Winter Offers Some Unique Opportunities for Home Buyers and Sellers

“Winter is Coming”. Such a simple sentence but one with ominous connotations made more famous by the hugely popular show, Game of Thrones. But what’s so bad about winter?

It’s considered common knowledge that spring is the best time to buy or sell a home. If you plan to list your house for sale, you should wait out the cold winter months. But winter can have its advantages for home sales.

Here are some reasons why you don’t need to wait until the ground has thawed to put out the First Community Realty ‘For Sale’ sign.

1. Less Competition: Because everyone thinks they should wait for spring, there are fewer homes on the market. But that doesn’t mean potential buyers aren’t out there looking for a home. Fewer buyers mean fewer offers, so less competition.
2. Motivated Buyers: Some buyers can’t wait. They may be looking at a job relocation at the first of the year. Or they are changing schools. Or it could be for tax advantages. This may work in your favor for getting your asking price.
3. Faster Closing: Real estate transactions involve several parties: lenders, title companies, inspectors, and appraisers. Winter is also a “slow time” for these entities, making them less likely to get backlogged on their work. Your agent may have more time as well—time to focus on you and the sale of your home.
4. Winter ambience: Everyone loves green grass and flowers in bloom but don’t underestimate the ambiance of winter. Utilize warm lighting, comfortable furnishings, and seasonal décor to create an atmosphere that feels like home. Highlighting your home’s heating system, fireplace, and insulated windows can also appeal to buyers looking for comfort and energy efficiency during the colder months. Your home can take on a warm, cozy vibe to a prospective buyer and they might see themselves right at home.
5. Tax Benefits: Selling in winter allows buyers to close on their new homes before the end of the year, which can provide valuable tax benefits. For example, they can deduct mortgage interest and property taxes on their upcoming tax returns. This financial advantage can motivate buyers to act swiftly, increasing the chances of a successful sale.

While winter may not be the conventional time to sell your home, its unique advantages can benefit you. The combination of reduced competition, motivated buyers, and the opportunity to highlight your home’s warm features makes the colder months a practical time to enter the market. If you’re considering selling your home, don’t overlook the possibilities that winter can bring! Contact First Community Realty today to get going!