Winters in Michigan can be brutal. The cold weather and snowy conditions make everyone want to stay inside and steer clear of any outdoor activities. However, it might be surprising to know that winter is actually a great time to purchase a home.
Recent studies show there are several advantages to buying in the winter months. While spring and summer are traditionally the most popular seasons for aspiring homeowners to make their homeownership dreams come true, there are plenty of reasons that now is an even better time.
Take a look at the reasons winter is the optimal time to buy:
1. Less competition
There are many people who are not willing to go house hunting in the dead of winter. Take advantage by getting in contact with a real estate agent and taking a few house tours. Fewer people means less competition for the perfect home. The low demand will be favorable and relieve any worries surrounding bidding wars.
2. Motivated sellers
When there is a home that goes up for sale in the winter, more than likely, the seller really wants to sell, which opens the door for negotiations. The seller may be willing to lower the price, discount closing cost, or even offer other incentives like appliances to be included with the home sale.
3. Motivated realtors
Typically, everything in the winter months slows down. That means realtors may have less clientele and can give extra attention to the clients they are currently working with around this time of year. Realtors are willing to go to bat for their clients and work a little harder to get them the best deal possible.
For anyone with a strong desire to become a homeowner, the time is now. Interest rates are still historically low, which is excellent for potential homebuyers and homeowners alike.
Homeowners can take advantage of these low rates by refinancing to consolidate debt, lower monthly mortgage payments, eliminate PMI or take cash out.
You can receive a free five-minute mortgage review with Hall Financial to get on a fast track to savings.
Take advantage of the winter housing market conditions and get pre-approved today.
Click here to learn more about Hall Financial.