The House is Easier to Inspect
A residence’s weaknesses a more likely to be apparent in winter, such as inefficient windows, pests in the walls, an extra-wide driveway to shovel, ice build-up on the roof, etc. Plus, there isn’t any pretty landscaping to distract you! Viewing properties for sale in winter enables you to cast a critical eye on your investment.
Lower Demand Means Lower Prices
Typically, fewer real estate transactions take place over winter. As the overall market is driven by supply and demand, a drop in the number of buyers leads to lower purchase prices. This factor, in combination with a rise in interests rates, means this winter might be an excellent time to acquire property at a reasonable price.
There Is Less Competition
Has watching the real estate bubble swell over the past few years and hearing stories of multiple offers and bidding wars made you break out in a cold sweat? Since there are fewer people looking for homes in winter, there is a greater likelihood of you being the only one submitting an offer on your desired property. This also means you are in a stronger negotiation position for terms like the occupancy date or even items you fancied during the visit and would like to include in the sale, like the spa, billiard table, or appliances.
Sellers Are Particularly Motivated
People who decide to put their residence up for sale despite the chilly temperatures are generally not testing the market: they are motivated to sell. These are usually sellers who need to get the property off their hands quickly. This is a great business opportunity for buyers. Avoid being too arrogant by lowballing the sellers on the price, however. Stay within the price range of comparables in the neighbourhood that have sold in the past few weeks.