Should I buy a house in the winter?
Short answer, yes. Long answer, yeeeeeeeeees.
Well first of all, if you’ve ever lived in, been to, driven past Connecticut, you know our winters can be pretty terrible. Tons of snow, icky roads, slush everywhere – most people here wouldn’t choose to list their homes in the winter. This means that most listings you see in the winter are people who were having trouble selling their homes in the fall or who really need to sell their homes quickly.
Connecticut: A little of column A, a little of column B
As a buyer, that means good news for you! Sellers may be looking to offer price reductions or incentives to avoid having their house sit on the market for more time. You’ll also be less likely to have competition as the majority of home buyers are not looking in winter, either. (If I’m venturing a guess, most people don’t prefer to move when it’s 10° and icy).
Another benefit of buying a home in the winter is you can assess the house for structural issues or damages – if the roof is covered in snow, are there leaks inside? Is the house drafty/hard to keep heated? Can you feel cold air coming in from any specific spots in the house? Inspectors may be able to find more issues during the winter than they would in the spring and summer.
Finally, you may have an easier time getting your loan closed and hiring movers because the season is slower. Lenders may have fewer loans to process and may be able to get your loan closed more quickly.
So, overall it’s a good idea to look for homes in winter if you have no reason to wait. You may have fewer homes to choose from, but you’re likely to get a good deal and have less competition in your search.
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