M300 Blog / November 7th
How Buying a Home in Winter Can Save You Money
Waiting to buy a home until spring or summer seems like the obvious choice for most families. The weather is warmer, kids get to finish out the school year, and there’s (usually) an abundance of homes on the market to choose from. But what about that other crucial factor — affordability? If saving money falls high on your list of priorities, here’s why buying a home during winter might be right for you.
Part of the reason prices are lower in wintertime is due to the lack of competition. Buyers come out in droves during spring and summer, but the holidays, cooler weather, and tighter housing inventory are all factors that typically keep buyers at bay during winter. With less demand, it drives prices down, making it the ideal time for buyers who are looking for the best deal possible. Plus, with fewer people to compete with, there’s less pressure to outbid other buyers, which can make your home search quicker and easier.
On top of cheaper prices and sparse competition, sellers who list their homes in the winter are highly motivated to get them off the market. And since homes take longer to sell during winter, homeowners may be willing to accept lower than asking price. This gives you even more leverage to strike the right deal and save big.
Lower prices, less competition, and motivated sellers: Put all of that together, and you have a market that’s ripe for financially savvy homebuyers. If you’re thinking of buying a home soon, consider doing so this winter to maximize your savings.
(By the way … if you purchase your home before the end of the year, you may be able to take advantage of tax breaks associated with homeownership. Talk to your tax advisor to see if buying before year’s end could help you save even more money.)
Posted from Waypoints Magazine - https://www.waypointsmagazine.com/single-post/2017/11/07/How-Buying-a-Home-in-Winter-Can-Save-You-Money
This article is for information purposes only and is not an advertisement to extend customer credit as defined by Section 12 CFR 1026.2 Regulation Z. Program rates, terms and conditions are subject to change at any time.
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