“When is the best time to buy or sell a home?” The truth is, it’s now! Here’s why.
|LESS COMPETITION AND LOWER PRICES |
Most people hold off until late spring or summer before buying or selling, which means less competition and more opportunity for sellers to have their homes stand out. Often, homes are priced lower by sellers in the winter months. Since the home selling season does not kick in until the spring months, and demand for homes is less, the laws of supply and demand are in effect. As a buyer, you can not only save money by purchasing a home during non-peak selling season, but possibly get into a house you might not have been able to afford in the peak selling months of the year.
The entire closing process will take less time in the winter months once a home is sold. It’s often easier to close on a home faster in the winter months as lenders and title companies are not as busy.
You’ll get a real perspective of the home in the winter. You’ll see possible negatives that you won’t see in the perfect summer conditions. In Tennessee all lake homes look great in the summer. Winter may paint a different picture of the same house. Lake levels are lower in the winter months. That lake house you are viewing in summer, with the water a hop, skip, and a jump from your door, may be a muddy mess in the winter. Or, the water may not be as close, and require a treacherous walk to the lake. Or, that floating dock that allowed you to jump in your boat and cruise around the lake, may be grounded, as the lake level dropped. There are some great late fall days. As well, as some short-sleeve winter days in East Tennessee. TVA will still drop the lake levels, regardless of the temperature. You can’t enjoy year-round lake living if you can’t easily get to the lake. You can’t enjoy the benefits of year-round boating and living on the lake if there is no lake. Looking at a non-lake home? Those oak and maple trees that created a park-like setting, and a sense of privacy, with the home you are viewing, are stripped bare of foliage in the winter. Didn’t realize you had a neighbor that close? An ugly eye-sore next to you? In the winter months, all the make-up is gone. You can see the face of the surrounding neighborhood for what it really is. So, the moral of the story is that if the property looks great at the worst time of the year, it will look even greater during the peak spring and summer months.
QUICK AND CHEAPER MOVE
You’ll have the opportunity to move faster. Moving companies are slower in the winter months. It will be easier to get on a schedule and get moved quicker. Also, because of the lack of demand for movers, during the slow season, moving prices will be lower. Again, the laws of supply and demand kick in.