Buying a Home in the Winter? It’s Not Such a Bad Move

We get it: It’s cold outside. And it’s not much fun to tour homes when temperatures are falling below the freezing mark.

But buying a home during the winter months can actually save you some significant dollars, as this feature story by The Spruce says.

Why buy in the winter? First, you’ll face much less competition from other buyers. That’s because most buyers prefer to buy homes in the spring or summer months. If there aren’t as many buyers out there, the odds are lower that you’ll get into a bidding war. And no bidding wars? That can save you from having to make ever-higher offers on a home.

There will be fewer homes on the market during the winter. More owners put their homes up for sale in the spring and summer, too. But those sellers that are trying to move their homes during the winter months are often more motivated to sell.

These sellers might be facing a job relocation or other emergency that is forcing them to put their homes on the market during the chillier times of the year. If that’s the case, they might be more willing to settle for a lower price.

Buying a home in the winter, though, doesn’t mean you’ll automatically pay less. It just means that the odds are higher that you will, especially if you’re working with a REALTOR® who knows the neighborhoods in which you want to buy.

Such a professional can help you negotiate the lowest possible price with a seller. A REALTOR® will also let you know when a home’s asking price is a fair one, when it might be too high and when it might be a steal.

My advice? If you’re ready to buy, don’t let winter weather keep you out of the market. Chicago’s real estate market is a solid one today, and it’s possible to find well-priced homes throughout its neighborhoods. So put on some extra layers and get housing hunting.