1There Isn’t a Lot of Demand During the Winter
2Sellers May Think Like Retailers Between Black Friday and Christmas
It isn’t uncommon for sellers to encourage buyers with perks such as gift cards for looking at the house or making an offer. They may also decide to keep appliances in the home for the buyer’s benefit or otherwise make concessions that wouldn’t otherwise be available. Therefore, you could save thousands on furnishing your home or pick up an easy $500 just for making an offer on a house that you want anyway.
3You Never Know if Market Conditions Will Persist Into the Spring
As a general rule, you should finance your home whenever you think you can get the best deal. If you get an interest rate and other loan terms that are favourable, it doesn’t make sense to wait two or three months just because you think it is conventional to do so. Instead, go ahead, buy a home in the winter, and apply for your mortgage and complete the buying process as opposed to taking a risk that interest rates may rise.
4Your Lease Ends When Your Lease Ends
If you have a lease with your current landlord that expires in December, January or February, you have to make a decision immediately. While you could sign a bridge lease to give you time to finalize a home purchase on your own schedule if necessary, it could cost $100 or more per month to do so. In many cases, you can take possession of the home before the transaction closes assuming that the buyer is alright with that.
5Get a True Feel for Your New Home
In a city like Winnipeg, you can expect snow and cold to stick around for up to half the year. Therefore, moving into your home during the winter months gives you a true sense of what it will be like to live there. It also gives you a chance to get an idea of how much maintenance it may need or how hard it will be to maintain the home by doing your home search during the winter. Even if you have to take action to stop drafts or guard against ice dams, it is easier to fix minor issues when you know that they are present.
No matter what a real estate agent or mortgage broker may tell you, it is not a bad idea to buy a home in the winter. As long as you get the home that you want at a price that you can afford, move on the deal as soon as possible. Remember, the sooner that you move in, the sooner that you can stop paying rent and start building equity in a property you can enjoy for many years to come.
Yeah, I think you covered just about everything. Why extend your lease when you could save more and be in the Christmas spirit? Perfect way to start off the new year.
Interesting article, I found this very helpful. True that house is important, some people are unable to pay the lease in time not because they unable to pay it but as they have paid for other things such as children. I like that people can pay the lease whenever they want.
This does not apply to me he he. But it is a good thing to have
You’re right! Winter is the perfect time to buy a home because it’s off-peak season. There’s less competition too.
Great article. Thanks for the tips. It’s true, most people are busy planning to buy gifts in Winter rather than deciding to purchase a house.
Yes, so true. Instead of waiting for the next season, why don’t we focus on looking for that perfect house right now rather than pay for the rent on Winter. Winter should not be an excuse in doing that.
Buying a home during winter time is a smart decision. The housing market provides the best deals during winter.
That is one persuading article. I also like that point of view wherein you could check the state the house in during winter season. It is the most difficult time of the year and it has a harsh weather condition. Good idea.
It is a good decision to make this kind of investments at that time of year, there are many offers that can be used
What a great guerilla home shopping tactic. This reminds me of shopping for clothes deals during the off season. This is when you get the best deals!
Exactly…..when everyone else is selling…..BUY!