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. More on inspections 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.
#4: Motivated Sellers
We would like to think that all sellers are motivated but the reality is that those who have listed their home during the winter months, may have some extra motivation to sell before the new year. Taxes? Move up Home Investment (contingent)? Moving out of state? Or perhaps they don’t want to pay the bills during the winter months, especially when they are not living there!
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.
CALL/TEXT Realtor Jenny Wetzel (253) 381 – 9788 or email Jenny@jennywetzelhomes.com