There is some conventional wisdom that many people have heard about winter may not be the right time for buying or selling a home. Sellers can hesitate to list their home in the winter because they fear there will be fewer buyers, reducing their chances to sell their home or being able to sell at the right price. At the same time, buyers are afraid of the reduced selection of homes on the market as well as the difficulties that come with moving this time of year (bad weather or moving families mid school year). While there is definitely some truth around these beliefs, there are also some major potential advantages that can make it an appealing option for you to buy or sell during the winter months.
For sellers…less competition! There can be fewer people looking during the winter months, but at the same time, those that are looking could be facing a smaller inventory. So if you have the perfect home for that buyer, they could also be looking at fewer options and your property could be the best fit for them. Also, buyers looking at homes during the winter are typically ready to buy, motivated and qualified buyers. Sellers may want to keep in mind some winter specific things to do to increase the appeal of their homes including getting the heating systems inspected and maintained as required and working to create a look that is still warm and inviting while keeping the property as clear from snow and ice as possible. As well, if your exterior and yard is a selling feature of your home and you are unable to showcase this with the snow, have some summer yard photos available for the online listing as well as a photo display to leave in the house that buyers can see while viewing the home.
For buyers, while the selection of homes on the market may be less during the colder months of the year, just like sellers, there are fewer competitors looking for homes lessening your chance of getting into a bidding war or lost opportunities. And just because there are fewer homes on the market, doesn’t mean that the right home isn’t available!
Whether you are on the fence or ready to pull the trigger, I am here to help you through the process, assist you in making an informed decision and get you the best deal possible as a buyer or seller!