Are you thinking of moving but are unsure if fall or winter is the right time to take the plunge? If so, you may be surprised to learn that you can save a lot of money by buying a house in the cold seasons. How? Here are a few of the best ways.
1. You Have Less Competition. The fact that many potential buyers plan to wait until spring or summer works out well for buyers looking in the fall and winter. You have less competition, often leading to lower prices and better properties for the same price.
2. You Can Do Tax Planning. Shopping for homes at the end of the calendar year offers you a chance to boost tax planning. If you buy at the end of the current year, you may be able to write off house-related expenses right now. Do you have changes coming up next year that may raise your income tax bill? Buy just after the new year starts and maximize the potential tax benefits of a home for the entire year.
3. You Learn the Home's Weaknesses. When you shop for houses during the sunny, happy months of summer, you don't get to see the property at its worst. Cold weather allows you to learn about drainage problems, city or HOA maintenance issues, lack of natural lighting, faulty heating, and even the condition of the neighborhood in the offseason. Knowing the true condition of your new property saves you money during and after negotiations.
4. You May Find Sellers More Motivated. Because it's a less popular option, homeowners who list their properties in the offseason are usually more motivated to get the sale done. This can benefit you during negotiations — not just with a better price but also more costs paid by the seller and more amenities or furnishings included.
5. Your Moving Costs May Be Cheaper. Moving houses doesn't just include the cost of the property. You'll also usually need to hire movers, transport your stuff, choose new service providers, hire a real estate agent, and get a mortgage. Because there is less buying and selling in the fall and winter, you may be able to get better deals on all these ancillary services. And you'll benefit from the added attention you get from providers.
Which of these financial benefits from a fall or winter move could help you most? No matter whether you can get a better deal, negotiate less expensive services, or ensure your new home is in its best condition, the perks of a cold-weather move can be significant. Learn more by meeting with a real estate agent in your area today.