It may seem counterintuitive, but December can be an excellent time to find a home.
That’s particularly true for buyers who are tired of losing out to others in the more competitive homebuying months. But why buy now?
1. There’s less competition for homes
During the winter there are fewer buyers searching for homes, and that equates to less competition. That means there’s less likelihood that you’ll end up in a multiple-offer situation, and with less competition you can take a *little* more time to look. Of course, on the flip side there are fewer homes on the market to choose from.
2. Prices tend to be lower
Central Austin home prices tend to be lower in the winter. Homes for sale the spring tend to go for 6 -8% more than they do in the winter. If you find a home you like, the winter is the ideal time to take advantage of the lower prices.
3. Sellers are often more motivated
With the holidays here and a new tax year right around the corner, sellers may be more motivated to close the deal in time to start fresh in 2017.
4. You can see parts of the home that are hidden in the spring
Looking at homes in the winter will allow you to see parts of the home you might not otherwise see. Because of the harsher conditions of winter (except when we are having 70-80 degree weather like this year), some of the landscaping will die back so you can more easily see the permanent structure of the home. You will also be able to see how the home performs in cooler temperatures, so be sure to check for drafty window seals and so on.
5. You might get a tax break
As an added benefit, you might get a tax break if you close before the end of the year, since you may be able to deduct mortgage interest and other costs.
Ready to make a move?
We’d be excited to share our expertise and help you maximize this winter buying season. Contact us for a no obligation, no BS consult today.
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