5 Reasons Why The Best Time To Buy A House In Spokane Is During The Winter
Everybody has their own opinion when it comes to the best time to purchase a house. The following are some of the main reasons why wintertime may be the best time to buy a house in Spokane.
According to traditional house-buying wisdom, the best times to purchase a house are spring and summer. Real estate trends appear to indicate this is true. Across the nation, May through August is when the most house sales occur, and then during the winter, the inventory and sales number drop, with many sellers taking their houses off of the market during the holiday season.
However, just because a majority of people prefer shopping for houses when the weather’s nice does not mean you should not purchase a home during the winter. In fact, buying a house during the winter could be a better idea than purchasing one during the summer. Here are some of the main reasons why:
You May End Up Getting A Better Deal
If you would like to get the best possible deal on a house in Spokane, you can purchase it during the winter. People who buy houses that close during the month of January pay 0.51 percent less on average than those whose sales close during the other months of the year. This may not sound like a lot. However, keep in mind that when it comes to the price of a house. Fifty-one percent can end up saving you thousands of dollars.
During the winter, a majority of sellers tend to be more motivated to sell their houses since this is when house sales historically slow down. So there is a good chance you will be able to get the seller to lower the price more than in May and June when usually sellers can command higher prices on their houses. And for winter buyers, a lower sales price will also result in average lower closing costs. This means you will have money that you can spend on a new American Home Shield home warranty, renovations, paint, new furniture, or movers.
There Is Less Of A Chance That You Will Be Outbid
Bad weather and lower inventory levels mean that fewer people will be competing to purchase the same homes in many markets. During the winter there may be fewer houses for you to choose from. However, there will be a much better chance that your offer will be accepted since competition from other homebuyers will be less. This means that sellers will get fewer all-cash or fewer offers. So your traditional financing might look more favorable to them.
You Will Know What You Can Expect From A House During Bad Weather
When purchasing a home, it can be difficult to know what you should look for – and when you purchase during the summer, you will see houses when they are at their best during ideal weather conditions. A major drawback to purchasing a house during the summer is you do not get the opportunity to see how well it holds up in low temperatures, ice, and snow. When you are shopping for houses during the winter, it will give you the chance to see how cold a house’s bedrooms get or how drafty its windows are. You will have the opportunity to check out the driveway, walk for icy areas and inspect the roof to see if there are any ice dams. How well are the roads cleared by the city that lead to your potential house? You will be able to sell if you drive there during the winter.
You Can Close Quicker
Since the real estate market really heats up during the spring and summer months. Mortgage brokers tend to fall behind all of the work they have to do. That means during the warm months, it will most likely take longer to close on your house since the mortgage broker will have less time to work on getting your paperwork completed. It can be a real drag to have to wait to close because your mortgage broker is really busy. However, if you purchase a house in Spokane during the winter, you could end up being able to close a lot faster.
Hiring Movers Will Be Easier
Movers, just like mortgage brokers, are also very busy during the summer since everybody wants to buy a new home and move into it during the summer while their children are not in school. However, snow and ice can make the moving process more difficult, being able to choose the moving company that you really want can help make up for this. Booking a mover during the winter will be a lot easier, and you may also be able to negotiate a lower price as well since they may not be fully booked. When they are not booked solid, that will also give you more flexibility in case you need to reschedule should a snowstorm hit on your moving day.
At first glance, it may not sound like a very good idea to purchase a house during the winter. However, in reality, it can be a perfect way to get a great deal on that dream home you have wanted for so long. After you purchase your new house, make sure to protect it by getting an American Home Shield home warranty. Contact us to learn more about how we can help to protect your budget and home in Spokane from unexpected breakdowns and emergencies.