Five reasons to house-hunt this winter

The summer selling season. That alliterative phrase says all you need to know about when most buyers look for homes.

Yes, the weather is nice in summer and the kids are out of school—perfect timing for a move—but that doesn’t mean it’s the best time for look for a home. Use the lull in real estate sales that winter brings to your advantage, and enjoy the benefits of being an off-season buyer.

There are fewer buyers out looking. Even if you’re house-hunting in the country’s hottest markets, you’ll enjoy less competition from other purchasers. Although listing prices might not be lower, you’re less likely to get into a bidding war. And you might even get a chance to “sleep on it” before you make an offer.

Sellers who list over the holidays aren’t fooling around. Most sellers prefer to put their homes on the market during the late spring or summer, when sales are traditionally robust. Those who sell their homes in the winter are likely driven to get a deal done. They know there are fewer buyers, but circumstances dictate that they sell their homes now.

Price may not be the only determining factor. Sometimes these motivated sellers would rather close fast than pocket an additional thousand dollars, for example. Include terms in your offer that are attractive to the sellers or be willing to accept terms to accommodate their situation—in exchange for a lower price or other concession.

You could have a quicker transaction. The sellers aren’t the only ones who might be inclined toward a faster close. Real estate agents, appraisers, inspectors and other professionals involved in the deal are handling fewer transactions in the winter, which may speed things along.

You’ll see a true picture of the property. Is the house drafty? Are the pipes well insulated? What’s traffic in the neighborhood like when it snows? And how does the nearby school affect daily traffic on the street? These situations and plenty of others don’t rear their heads in the summer.

Winter may be the off-season for buying a home, but that doesn’t mean you should postpone your search. Your lender is happy to help you finance a whether it’s December or July.