Why winter is often a great time to buy a property…
Just because it’s chilly outside, it doesn’t mean when it comes to buying or selling a home you’ll be left out in the cold. It is still possible to fetch or find a good property price in winter time.
If you’re a buyer …
- In colder months there’s usually less people at inspections
Winter can actually be a great time for house hunting. Even though it’s considered off-season, it could mean that you can find the perfect property for a great price due to less competition.
Often fewer people at viewings comes down to one thing: the weather. We all know that on cold, rainy days many people would rather hide under the doona than assess bathrooms. Parents who are also forced to cart around bored, cranky children can often totally bypass this house hunting season, feeling it’s in the too-hard basket.
- There are less bidders
If there are less people at inspections, that could also mean there are less people making offers and bidding at auctions. Also, even if there are fewer properties available on the market, this could be a great advantage for you when things get serious as you’ll have less competition.
- Real estate agents will have more time for you
With generally less to do, real estate agents will have the time to really show you around as a potential buyer. You could really benefit from their local knowledge and they might let you in on pre-market properties before they’re advertised.
- It’s a good chance to see how a house holds up
Winter gives you an opportunity to see how a home really handles the harsher elements during an inspection. Test to see how cold it feels in the house and search for heating systems. If it’s colder than Antarctica then take a deep (chilled) breath and suss out the insulation.
Observe whether water leaks when it rains or whether cracks in the windows let in bone-jangling drafts. Most importantly, asses how much sunlight the house lets in and whether there’s any mould, or damp, which can be a pain to rectify. Viewing a property during a sunny day might mask these things and lead to a troublesome purchase.
Because the winter months are generally spent visiting family, eating food and making great memories. Temperatures may drop and snow could even be on the ground, and the last thing on your mind may be buying a home. However, we have 5 powerful reasons why buying a home in the winter can benefit you. These benefits include:
- MOTIVATED SELLERS
Owners who list in winter usually need to move from their property for a reason (i.e. job relocation) and therefore, are normally willing to negotiate on price. Use this aspect to your advantage in scoring a deal.
- BARGAIN PRICES
Home prices are at an annual low during the winter months, which means buying a house now can increase your
purchasing power and get your more house for your money.
- LITTLE COMPETITION
Fewer buyers mean less competition. This means fewer chances for multiple offers being put in on your dream home.
- SEASONAL PERSPECTIVE
Cooler months means you can check the functionality of the heating system, or if there are any drafts coming through the windows. Any other time, these important factors may not cross your mind while touring a home. This could essentially leave money in your wallet.
- AVAILABILITY OF PROFESSIONALS
Lower activity during the winter months can mean more attention from your real estate agent and lenders can be more accessible for questions and assistance.
So, if you plan to buy a property in Melbourne during winter, talk to us in the first instance and we can guide you through each step of the buying process by helping you select the right property at the right price saving you time, money and stress!
Happy house hunting and buying this winter 😊😊😊