In real estate, it is a general rule that spring and summer are the best months to buy or sell a home. Winter doesn’t seem like it would be a good time to start house-hunting, but there are some compelling reasons for purchasing a home when the snow hits! Here are a few factors to consider:
Less competition
The fact of the matter is that winter is just not a popular time to start house-hunting for many people. What with holiday parties, end-of-year demands, and the terrible weather, most people have other priorities. However, this could work to your advantage! Ottawa has just started experiencing the high demand for properties as seen in Toronto and Vancouver, and the bidding wars that go with it. Choosing to shop for homes in the winter could mean less frenzy and less competition for you.
Motivated sellers
Winter sellers are often more motivated than sellers in the spring or summer. Why? It could be that they have to move suddenly — for instance, they might be relocating for work. Just as most buyers aren’t often house-hunting in the winter months, neither are people generally looking to sell. It’s true that there will be less inventory on the market, however one of these homes could still be just what you’re looking for! Another thing to remember is that a home for sale during winter means the seller could be more open to negotiating on the price, closing costs, closing date, or even terms of sale.
More attention from your RealtorⓇ
Of course, you can expect to receive attentive service from your RealtorⓇ year round, however, during the winter your RealtorⓇ will have fewer clients on their books leaving them more time to devote to your needs.
Get a more accurate picture of the home
With bare trees, a white blanket of snow covering the yard, and muted natural light, you’ll be getting a clearer and more accurate picture of the home. Viewing the home during winter also gives you the opportunity to see how the house performs during the colder weather. Do the windows provide sufficient insulation? Is the furnace working properly? It is better to have these items checked out now, instead of discovering problems after you’ve purchased the property.
Get a headstart on the spring market
Even if you don’t find a home during the winter months, both you and your RealtorⓇ will have a better idea of what you’re looking for when spring finally hits. Many sellers look to list their properties in the spring, so armed with the knowledge you gained from searching all winter, you can hit the ground running when the snow melts!
Are you looking to buy or sell a home this winter? For assistance in determining the current market value of your home, reach out to the team at Royal LePage Performance Realty for a free home evaluation. Contact us at any of our branch locations to find out more — we look forward to hearing from you!
