I’ll start by admitting that I have purchased every one of the homes I have owned in the Fall or Winter. This headline isn’t for click bait advertising- I really mean it. If you are able to purchase your next home between the months of October and February, you should.
#1: The Best Time To Have Your Home Inspected
Typically it rains A LOT in the fall and winter months, which is great as a home buyer because you want to see and inspect your next home when in the worst weather condition. For example, maybe you are curious if your basement get’s water during the rainy season (if you aren’t curious, you should be!) Having the opportunity to view the home during the toughest weather conditions vs when it’s 80 and sunny will leave you feeling extra confident moving forward with you home purchase. Likely having to spend less money on surprise fixes, because you already knew about then. Learn more about the home inspection process in Pierce County here.
#2: Less Competition
There are fewer home buyers shopping. That’s a fact. Statistically the Average Days on market climbs during the Fall and Winter months. After the 4th of July Inventory levels begin to rise and they historically peak at the end of December. With more homes on the market, you as the buyer have more negotiating power and a little more time to decide.
#3: Lower Interest Rates
Interest rates traditionally do not climb in the Fall/Winter months. They are more likely to decrease, to motivate more buyers to enter the market. Timing the market may allow you to have more purchase power if you buy a home in the winter. Read more about how to finance your home purchase.
#4: Motivated Sellers
We would like to think that all sellers are motivated but the reality is those who have listed their home during the winter months, may have some extra motivation to sell before the new year. Often times, sellers who list their home in October or November are motivated to sell before years end for tax reason. Or they are preparing to purchase a new home and are positioning themselves (with the funds from their current home) to purchase their next home in the Spring/Summer. Being a contingent buyer is extremely nuanced. Learn more about the process and how to successfully make your housing when buying and selling simultaneously.
In summary, start shopping in the winter months and you will be able to see and inspect your home in the most harsh weather conditions; making it more likely to expose deficiencies and needed repairs that otherwise may have gone unnoticed, had you purchased in the sunny spring and summer months. Negotiate repairs with the seller, saves you money, time and future headache! Interest rates stabilize and although there are fewer homes for sale, there are significantly less buyers shopping. Allowing you a slight leg up with negotiating and not having to compete against other offers.
Looking to Buy or Sell? CALL/TEXT Realtor Jenny Wetzel (253) 381 – 9788 or email Jenny@jennywetzelhomes.com