Save up to $50,000 or more on the purchase of your home!
How? Shop for a home in the winter! It’s based on traditional housing market supply and demand. In the springtime and summertime, that’s typically peak buyers’ season meaning more shoppers and more competition. In the wintertime, it’s the complete opposite. It becomes a low season for buyers. As buyers are not likely to want to move in the winter if there’s snow on the ground, and also the holiday slowdown.
Fewer buyers in the market mean fewer chances of creating bidding wars and multiple offers on the same home. Sellers know this as well, so that’s why they typically wait to list in the spring. However, life happens, and everyone can’t just wait months to continue with their lives. So the sellers who are listing in the winter typically have to sell. They are not just testing the waters, so when they are listing, they are listing at very realistic market value prices or even lower in an attempt to move their home quickly. As their home sits longer and longer, they began to feel the pressure and are more likely to take lower-than-market-value offers potentially. In addition, they may be willing to negotiate better terms and incentives for buyers.
In addition, if you’re actually shopping for a brand-new construction home. Buying in a winter market might actually be the best time. Many builders are looking to offload any existing inventory they might have before the end of the year. So they could start the new year with as little existing debt as possible. So this might mean, savings of up to $50,000+. Things like a new driveway might be included, landscaping, and other optional upgrades, that would have been an upcharge might be included, just to get rid of the home.
As you can see, shopping in a winter market can really give you some maximum savings for your next home purchase.