January is a time that is known for new beginnings, and there’s no beginning quite like finding a new home. Despite what you may have heard about winter buying and selling, the New Year is a great time to be in the market. Plenty of homeowners are looking to sell their current homes to make room for a growing family or simply to accommodate changing needs. Just keep a few things in mind in your winter endeavors before you start.
Selling your home can be a challenge in the winter months – so make sure to keep these things in mind when you’re looking to put your house on the market in the new year.
Make Winter Work For You
You won’t have the advantage of a balmy climate to bring foot traffic by your house, but it doesn’t mean the market isn’t still there. Fewer sellers mean less competition, and that can work to your advantage. Feel free to clean up on the seller’s market before the boom comes in Spring. You have more leverage than you think.
Know the Buyers
Do your research and know the kind of buyers looking into a new home for the spring. Families aren’t usually looking to buy in this season – the solstice holidays tend to leave those markets tapped. The folks looking to buy homes at this time of year include newly employed workers moving to a new job, divorcees, or older couples who don’t need a home that’s so large anymore. These buyers typically are more willing to negotiate and can be easier to work with. Sell with that market in mind and you already have a leg up.
Know the Market
It’s not enough to know the buyers, get to know the landscape of the market as a whole as well. Do your homework and find out what houses similar to yours are going for from as many different realtors as you can. Once you have an idea what other sellers are doing you can get a better idea of what you have to offer.
If you’re on the other side of the table and looking to buy a home in the winter, there’s a few other things to keep in mind as well.
Fast Turnarounds Aren’t Just For Sellers
The bottom line here is that the advice above for selling works the same for buyers. The process of buying a home is complicated and the seller doesn’t want it to go on for a long time either. A motivated seller loses value on their property the longer a house has been on the market. You can use this as leverage to get closer to the price that works for you.
You Get To See Your Potential New Home In Adverse Weather
Spring and Fall let you see a home in its best light, with fair weather and less stress on the home’s infrastructure. However, many challenges come up in the dead of winter. Houses contract, bear snow on their roofs, and potentially freeze pipes. You can check for all of these difficulties in the winter and save yourself future stress by seeing if a home suffers from any of these conditions – or more.
If no other reason motivates you, you can’t beat the prices on a home in winter. When sellers are motivated to sell a home quickly, they’re more likely to bring down a price for that fast turnaround mentioned earlier. Price is often the name of the game for buyers looking at this time of year.
Don’t Buy or Sell Alone!
If you’re in the market to buy or sell this Winter, Matt Albright, is your leading RE/MAX real estate agent. Contact him to help you get your house on the market and find homes for sale in Bucks and Montgomery County!!