You hear a lot about the summer home buying season—how it’s one of the busiest, the most popular and the most-supply heavy times of the year.
And though buying a house in the summertime certainly has its benefits, it’s actually not the best time of year if you want a great deal.
In reality? Winter may just be the best season to buy a house.
Why Winter’s Tops the “Best Season to a Buy a House” List
There are many reasons why winter is the best season to buy a house, but most of it boils down to competition. In the colder months, buying a home just isn’t as popular. People are spending their money on Christmas gifts and vacations with the family, and they’re not looking to up and move amidst the busy holiday season.
For the buyers who do venture out into the market, this means serious benefits, like:
- There are fewer buyers to compete with, meaning less bidding wars and sky-high prices.
- Sellers are more desperate to sell their properties, so they may be willing to come down on price or concede certain fees or closing costs.
- There’s less activity for lenders, agents, moving companies, and title agencies, so you’ll likely get serious one-on-one attention from the vendors you work with.
- Furniture stores, home décor stores, and other shops may be running holiday specials, which can help you save cash on sprucing up your new home once you move in.
Throw in just how beautiful homes are when they’re decorated for the holidays, nestled in a snowbank or trimmed in lights and holly? And you’ve got not just a good time to buy, but a downright enjoyable one.
Buying a Home in the Winter
Just because winter is possibly the best season to buy a house doesn’t mean it’s easy. If you’re planning to buy, make sure to keep a tight rein on your holiday spending, and don’t rack up too much credit card debt before applying for a mortgage. See our recent blog on protecting your credit during the holidays.
You should also consider how any potential holidays may affect your purchase. Remember, many mortgage companies and title agencies will be closed on Christmas, New Year’s Eve, New Year’s Day and maybe a few days in between. Check with your vendors, and make sure to work those closures into your timeline.