Three Reasons Why Buying a Home in the Winter is a Smart Move
Winter is Buyer’s Market
Why? Because there is less competition and fewer house-shoppers. The colder months present a great opportunity to snag an incredible deal. Asking prices are typically lower and you’ll face fewer buyers offering competing bids. Even a small difference in price can mean significant savings in the long term. For example, let’s say you’re buying a house with 6 percent closing cost and a 30-year mortgage with a 3.25 percent interest rate. If your house costs $500,000 compared to $550,000, the total cost of your mortgage will decrease by over $80,000. You’ll reap the benefits of buying low for decades to come.
Snag Awesome Deals
Buying during the holiday season may be a bit hectic, but the payoff will be more than worth it. Real estate is a “supply and demand” industry, which means good deals can be found when no one else is looking. Therefore, some of the best deals happen during the coldest months of the winter, especially around the holidays. While people are busy shopping for presents and entertaining you could be landing a pretty awesome gift for yourself! Another good point is that if you are looking to buy a bank foreclosure, many banks are eager to get the loans off the books before the close of the year, which means better deals can be found because of bankers increased motivation to sell.
Prime Time for Staging your Home
Although the holiday season can seem like a crazy time to show and sell your house, there are distinct advantages to staging and showing your home at this this magical time of year. Your holiday décor will give your home an added warmth style. The holiday season may be the best time to show your home as chances are it looks its very best, adorned with warmth and cheer that’s sure to cast an inviting and positive vibe.