Generally speaking, it’s common knowledge that the prime season for home sales is spring to summer. It’s also common knowledge that the winter is the slowest season, especially here in Columbus Ohio; how many people want to trudge through the snow looking for a new home, or haul all their belongings to a new home when it’s freezing outdoors? It certainly doesn’t sound fun, but there are more than a few reasons supporting the notion that buying in the winter will actually give you an advantage!
The most bluntly clear pro of buying and moving during winter is exactly because the winter season is so slow. Most aspiring homeowners are shopping during the spring and summer seasons, as per their real estate agent’s advice. This is great news for you, because this means you have much less competition! This lack of competition also leads to a lesser chance of the house you want receiving multiple offers putting you in a bidding war.
Supply exceeds demand when the market has fewer buyers. As a buyer, this is a huge advantage; despite how freezing cold it is, some people still need to sell their houses. Prices are already likely to be lower in winter than in warmer months due to this lack of demand. In addition, the winter’s activity lull means sellers will be far more motivated to sell and negotiate, whether on closing costs/date, selling price, or sale terms, such as, for example, whether or not the refrigerator is included in the sale.
One final upside to winter home shopping? This low activity means you will likely have the undivided attention of your realtor’s efforts.
Is there a downside to home buying during the winter? Not many. One often-expressed concern is that the home inspector will not be able to walk on the roof or possibly even able to see the roof when it is snow and ice-covered. There is a Columbus Ohio home inspection company that solves that issue. Habitation Investigation provides a 5-year roof leak warranty with every home inspection even if the roof can not be seen. How? When they inspect they are also looking at the ceilings for leak indications and in the attic spaces as well. If no signs of active leaking then the home is covered by the warranty company. Habitation Investigation is the home inspection company to hire year-round and especially in the winter.
Get house hunting, and try to stay warm!
Written by Kaitlyn Troth of Troth Media