With this being said the New Year brings on a good question. Is it in fact a bad thing to purchase a home in the winter months?
Although the winter is colder and may feel more inconvenient when it comes to a move, there are some very beneficial factors to keep in mind.
Purchasing in the winter puts the buyer at more of an advantage because towards the end of the year the supply in the real estate market exceeds the demand, so naturally prices will lower as the demand is lower. This in turn allows the buyer more negotiating power when it comes to price and any terms in the purchase agreement that are set. There will also be less chance of multiple offers and bidding wars, which will make for a smother purchase experience.
Sellers are also much more motivated to sell in the winter. Most people who are selling in the winter are often doing so because they have to, so they are likely more inclined to close quicker and be more willing to do what it takes to get the deal finalized.
When you are purchasing in the winter you get to see the skin and bones of the house. You are seeing the home at its worst without any frills or hidden issues and know better what to expect. If there are any heating issues or drafts, any leaks or ventilation problems, even something as simple as the amount of natural light that will or will not be coming through your house will all be better revealed in the winter time.
As a buyer you can take your time to look, compare and choose your home in the winter as there will be less pressure to rush and buy the home before someone else does.
You can also benefit in tax breaks and write the house off for the following tax year.
Moving costs can also be cheaper, in addition to more flexibility with booking trucks and moving equipment, as not as many people are moving at that time.
On the sellers side, buyers tend to be more serious because if they weren't they wouldn't be looking through all that snow!