How to buy a home in winter
Can I buy a home in the winter?
Yes, you can buy a home during any season, including winter. Fewer homebuyers are shopping for homes during winter as they are during spring and summer, which can be a good thing.
With less competition on the market, you could have a better chance of finding a good home in your budget. Learn what your home budget will be when applying for a home loan today!
Can I get a good deal on a home in winter?
Buying a home in winter can be one of the best times of the year to get a good deal. Winter tends to attract fewer homebuyers compared to other seasons. With fewer buyers looking for a home, sellers could be more eager to make a deal with buyers.
Is bidding strategy for homes different in winter?
The nice part about looking for homes in winter is that bidding typically isn’t as common as it is in other seasons.
Fewer buyers could also mean that sellers are more motivated, and more real estate agents are available to you. Motivated sellers tend to be more willing to accept offers, and real estate agents can work to make sure you are getting the best deal.
What should I look for when touring a home during winter?
Looking at homes in winter allows you to see the property under some of the worst possible weather conditions. Trees won’t be in bloom, snow could be covering the roof or ground, and you may even have to avoid some ice patches as you walk to the front door.
While all of this can sound like a pain to deal with on a first viewing, it allows you to see how potential homes will look and respond to the harsh weather winters can bring.
If you are viewing homes during winter, check to see if there are drafts coming from the windows or doors, make sure the home is heating to your liking, and if there is snow, see how well the roads are plowed.
Looking at a home during winter shows you what to expect so you aren’t surprised when the cooler months come around.
What did buying a home in winter look like last year?
The end of 2024 saw a higher number of homes listed for sale than spring, but still lower than summer and fall of the same year.
The median listing price of homes in December 2024 was $402,503, which was down almost 2% from the previous December. This was also the year’s lowest listing price. The highest listing price of homes in 2024 was May, with homes listing just above $440,000.
Mortgage rates in December of 2024 were only slightly lower than May’s rates the same year.
When is the best time to buy a home?
The best time to buy a home depends on what you are looking for in the homebuying process. If you are hoping to see more homes, you will want to consider looking for a home during warm weather. If you are trying to get the best possible deal, you might want to think about shopping for a home during the cooler months.
During the warmer months of spring and summer, there can be increased competition as there are more buyers since sellers tend to list their homes for sale during this time. So, while buyers have more options when choosing a home, the prices could be higher.
As temperatures start to drop, the number of houses on the market tends to decrease fewer buyers want to shop for a new home during fall and winter, particularly during the holiday season. This can lead to sellers dropping home prices to attract potential buyers.
How can I start the homebuying process?
No matter the season, you can start the homebuying process online today. From searching through listed homes to applying for a loan, it is all available to you at any time.
If you have an ideal city or specific street in mind, you can search through all the listed homes in the area and find the one that fits your needs and budget.
If you are trying to determine your budget, you can apply for pre-approval and find out how much home you could afford. It is recommended to get a pre-approval before home shopping, as it will let you know the price range you should be looking at.
If you are ready to start the homebuying process and want to learn what your budget will be before looking at homes, you can apply now!
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