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12 Benefits of Selling Your Home in the Winter
Nothing against the Twelve Days of Christmas, but the dozen items on this list can give you the gift of a sold home this winter!
Nothing against the Twelve Days of Christmas, but the dozen items on this list can give you the gift of a sold home this winter!
- #1 - Lower inventory means less competition
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Like clockwork, something that can always be counted on is the number of homes available for sale increasing in the spring and summer, then decreasing during the fall and winter.
If you are one of the sellers fortunate enough to have your home listed during the winter months, this lack of competition means more eyes on your home!
Because one of the
basic rules of supply and demand is that prices go up as supply goes down, you may actually find that the "slow" season can generate higher offers! If you wait
to put your home on the market, you are going to be just one of the crowd when the glut of new listings hits the market.
- #2 - Winter buyers tend to be more serious than spring/summer buyers
- Let's face it, winter adds some additional challenges and things like just getting out and about are more difficult than during the summer. If someone is going to
go through the trouble of getting all bundled up and then driving through the slush and snow to view a property, there is a pretty good chance they are interested
in the house! Winter tends to weed out the "looky-loos" and people who aren't totally committed to buying a house; the people who are braving the elements to look for
homes during winter tend to be serious buyers who are actively searching and more motivated to put in an offer.
- #3 - New parents are looking to upgrade
- Most births happen in July through October, with September and October usually trading back and forth as the most popular month. What that means once December rolls
around, there are a great number of new parents with 2 to 5 month olds, looking for more space and/or a home that is going to work better for their growing family.
- #4 - Employees who are relocating are looking for homes
- January and February are the most common months for job relocations, and all of these people are looking for a place to live. That place could be the home you are
trying to sell - if you have it on the market during winter!
- #5 - Year end bonuses give buyers extra cash
- Holiday time and the end of the year is the most common time for employers to pass out employee bonuses, giving those people extra money that they can apply
towards a down payment or moving expenses.
- #6 - Landscaping and curb appeal are not as critical
- There's no need to mow the yard and trim the shrubs with a thick blanket of snow on everything! Sure, you do need to plow or shovel the driveway and sidewalks,
but if your home's landscaping leaves something to be desired, your home may actually show much better during the winter.
- #7 - Show off your home's energy efficiency
- Is your home well insulated? Do you have a high efficiency furnace or low-e windows? This is a perfect time to showcase these features to potential buyers!
- #8 - Wintertime is a great opportunity to demonstrate how cozy and inviting your home can be
-
Amenities like swimming pools, massive decks and outdoor kitchens which can wow summer buyers aren't as important during the winter.
Every home can take
advantage of inexpensive little touches like comfy blankets, tasteful holiday decorations and the scent of freshly baked cookies to create a warm and inviting
atmosphere for buyers. Even better if you have a fireplace - make sure to fire it up for winter showings!
- #9 - Be ready for "early bird" spring buyers
- Many buyers who are planning to buy in the spring will start their home search a bit early. By already being available when those buyers start looking, you can
get out in front of the horde of homes that are bound to hit the market come springtime.
- #10 - Buyers planning to move in the spring start looking during the winter
- Since it can take a couple of months between the time an offer
is accepted and when the transaction actually closes, buyers who want to move in the spring will start looking during the winter. By making sure that your
home is already listed on the market, your home is available to these buyers.
- #11 - Real estate agents can give your home greater priority
- Because volume tends to decrease during the winter, buyer's agents can't be as picky about the homes they present to their buyers. A home that might
have ended up in an agent's discard pile during the summertime may actually get in front of their buyer clients during the winter.
Also, the agent who lists your home needs to divide their time and resources between all of their current listings. When inventory is low during the winter, your agent can spend a bigger percentage of their time and effort towards marketing and selling your home.
- #12 - Selling your home during the winter puts you in a great position to buy a new home during the spring
- If you are selling your primary residence, obviously you will also need to buy a home to move to. Unless you qualify for and can afford to make two
mortgage payments or buy your new house outright with cash, you will probably need to make your offer contingent upon the sale of your exising
home. However, if you have already sold your home over the winter, your offer can be non-contingent. So, not only will you have a much larger selection
of homes to choose from at potentially lower prices, when you do make an offer, it will be much stronger than competing offers from buyers who still
need to sell their homes.
Do you have a home or other property you have been thinking about selling? Please contact us and we would be happy to answer your qustions or help you to beat the springtime rush and get your home on the market now!
About the author: Jon Steiger is a Licensed Real Estate Broker and founder of Brick Nest Realty in Fredonia, NY. For a brief bio and contact information, please check out the "meet our team" section of the Brick Nest Realty web site. For more articles like this one, please visit our blog.
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