10 Inside Tips For Serious Home Buyers In The Game Right Now
“Neither snow nor rain nor heat nor gloom of night….” goes the postal creed. Serious Wilmington NC home buyers can live by the same mantra. Winter may slow down some home buyers (and sellers), but serious sellers and buyers continue to make deals to successfully transfer homes year ’round.
The home buying game goes on all throughout the winter months, and the selling side is ready and poised for action. Local sellers are motivated right now to move on to their next homes and are eager to engage with interested local buyers — no matter the season on the calendar or what the weather does.
Are you ready to score a home? Home buying moves aren’t complex if you have great coaching from real estate professionals like us. We can help you play the right strategy that will win you a home during the winter months. Here’s why. This time of year, you’ll have fewer buyers to compete with, less pressure to buy quickly, greater overall savings, stellar homes to view, faster closings and end-of-year tax benefits that all add up to a great final score. After you “win” your home, you’ll be able to look forward to the warmer months when you can enjoy it with friends and family!
Keep reading to discover 10 top reasons why right now is a great time to get off the sidelines and reach your goal to buy a home!
1. Less Competition. Think about it: How many people are out looking at homes during the winter and the busy holiday season? Buyers this time of year are usually those who absolutely need to make a move. Therefore, there is often less competition and fewer chances of a bidding war occurring than during the hyper-active selling/buying seasons of spring and summer.
2. Better Deals. With less competition, sellers are likely to consider your offer more seriously — because they’re seeing fewer buyers. Those same sellers are serious sellers that need to sell their home now. As a result, you might be able to negotiate a better price or terms than at other times of the year. With fewer buyers shopping, select home prices may be lower to attract a sale. The typical trend is for home prices to be at the lowest point of the year in December.
3. Overall Savings. Besides a lower home price, you may pay less for moving and repair services since winter is not prime moving time and contractors also aren’t as busy as during warmer months.
4. Interest-Rate Break. Mortgage interest rates are sometimes lower in winter than in spring when demand can push rates higher. You can increase your buying power when mortgage costs are lower.
5. Easy On The Eyes. Sellers often have their homes looking their best during the winter when more family gatherings, holiday celebrations, big meals and increased at-home entertaining takes place. Sellers’ homes are shining for their holiday and seasonal activities, and their homes are sparkling clean and showcased for your viewing pleasure.
6. Quick Closing. Because winter months have fewer home sales, your mortgage lender might not be as booked, resulting in a quicker closing/settlement — helping you and your seller move on and get settled without a lot of thumb-twiddling.
7. Tax Benefits. Closing/settling on your home by the end of the calendar year could help your tax situation. Various settlement charges may be claimed on this year’s tax return as deductions that can lower your federal tax bill. Sellers may also be anxious to sell and take advantage of their own tax benefits during the current tax year.
8. No Pressure. If you’re a first-time buyer or renter, relish the fact that you have a completely flexible schedule to purchase a new home. You don’t have to make rash decisions based on selling your existing home and needing to find a new one quickly. Winter is a great time to look leisurely at homes and make a solid decision based on your schedule alone.
9. ‘Tis The Season. With winter holidays upon us, many people are in a better mood than during other times of the year. Sellers who are motivated and enjoying or looking forward to holiday festivities can be easier to work with, more responsive and more open to negotiations, especially if their buyer is open to closing after the holidays.
10. Local Experts. We know that every neighborhood is different. Let us help you find a home during this winter season — or any time — and show you what makes our area great to live in. Contact us at any time and we’ll help you secure a home that meets your needs and finances.
The same goes for Selling Your Home, your competition is lower as well. Call us with any questions.