While spring and summer are the most popular seasons for house hunting, there are several advantages to buying a house during the winter months in Minnesota.
1. Less Competition: Tired of always being the runner-up in a bidding battle? Frustrated by missing out on your dream home because it sold before you could even schedule a viewing? With fewer buyers looking for a home in the winter months, you can finally wave goodbye to the packed open houses and say hello to a more relaxed house hunting experience. Simply put, there are fewer buyers in winter, and with fewer buyers means better odds of finding your new home and fewer offers to compete with.
2. Lower Prices: It’s common knowledge that homes sold during the summer season tend to fetch higher prices. But historically, once the snow starts falling, housing prices typically decrease. This is due to the anticipation of a “quieter” market during the winter. Plus, if a home was originally listed earlier in the year but has been on the market for several months, lowball offers can often yield success – especially if the property requires a significant amount of renovation.
3. Motivated Sellers: There could be a reason a house hits the market in winter. The seller might be moving out of state, or have other reasons they need to sell quickly. This means more flexibility on the final selling price, or other terms such as negotiating appliances, repairs, or closing costs.
4. Winter Reveals Issues: Winter weather can be tough on homes, and might reveal damage and long-term issues that aren’t evident during warmer seasons. Since winter is usually wetter, you have a better chance of spotting leaks. You will notice a drafty home or ice dams on the roof. You’ll see the lot with bare trees and no foliage—basically, at its worst. If you like it that way, you’ll LOVE it in the springtime.
5. Quicker Closings: When summertime hits, the housing market turns into a madhouse! Mortgage lenders, movers, and vendors are swamped with work and it can take a lot longer to close a deal. But come winter, things change a bit. The property game slows down and professionals in the biz have more time to devote to each customer. Plus, fewer people are calling, which means less distraction and more attention to your needs.
If you’re looking to make a move this winter, get in touch with us for a free, no-obligation consultation!
