Believe it or not, this winter is a great time to buy a home! Interest rates have gone up a bit in the last few weeks, but are actually at the same levels they were this time last year – which means they are still near their historic lows. This winter is a great time to take advantage of low rates. Other great reasons to buy a home this winter are motivated sellers and fewer other buyers out there – which could mean a great deal for you. If you are thinking about buying a home, read on!

If you’re in the market for a new home, don’t let these winter months halt your progress! While it may seem like a perfect time to postpone your home-buying search and hibernate with some hot chocolate, a comfy sweater, cozy socks … maybe a Snuggie®, winter is actually a great time to buy a new home. During winter, the home-buying market can work in your favor, with timing on your side, competition at a minimum, and real estate agents and other housing professionals readily available.

So throw on your comfy sweater, take that hot chocolate “to-go,” and take advantage of these five benefits of buying a home in the winter:

Motivated Sellers

While the number of homes on the market may be lower in colder months, homeowners that do list their home in the winter are likely very motivated and serious about selling. This can work in your favor when it comes to negotiating the price of the home and closing costs. Some sellers may be determined to sell their house before the end of the year for tax purposes, so they may be more agreeable to your purchase conditions.

Fewer Buyers

As mentioned above, the winter months can cause many homebuyers to take a break from house hunting. For you, that means less buyers to compete for your favorite property. You can also take your time looking for your perfect home and not feel rushed into making an offer out of fear of losing out to other buyers.

Available Realtors

Due to the off-season lulls in the real estate market, there are typically more industry professionals available to help with your home-buying journey. And with a shorter client list, real estate agents can devote more time and support to your specific home search.

A Winterized Home

Viewing homes in the winter can give you a first-hand look into how the home holds up in colder temperatures. As you tour the home, take note of the heating unit and its effectiveness. Pay attention to any drafts you may feel, especially near windows and exterior doors. Run hot water in the sink to test the temperature and its speed-to-warm. Also, have a home-inspection expert evaluate the home’s winter durability.

Discounted Movers

Hiring professional movers is one of the best ways to ensure a successful move. And during the colder months, many professional moving companies discount their service costs. Some moving companies also reduce their staff for this slower period, retaining only their most seasoned movers. For you, that can mean you’re hiring the best of the best to move your belongings — at the most affordable prices. 

6 Winter-Moving Tips For Braving The Cold

On the flipside of these winter-moving benefits, there are some challenges to prepare for, in order to manage a safe, warm and successful move. As noted by Lansing, Mich.-based professional movers, Two Men And A Truck, consider practicing the following tips on your moving day:

  1. Clear driveways, porches, stairs, walkways, and any additional home-to-street access points, of ice, snow and debris.
  2. Track the weather closely and try to schedule (and reschedule when necessary) your move on the most favorable forecasted day.
  3. Pack emergency supplies, including a shovel, sand and salt, for any unforeseen ice- and snow-related conditions. In addition, carry a first-aid kit, extra water, snacks and blankets for other unplanned circumstances.
  4. Dress warmly to protect yourself from the elements. Wearing layers is a great way to adjust through the indoors-and-outdoors of moving.
  5. Keep yourself, your belongings and your home dry with extra towels, small rags, drop cloths and tarps.
  6. Drink plenty of water! An extra zero missing from the 10-degree temperature reading outside doesn’t mean that you won’t sweat and exert a lot of energy. So drink plenty of fluids!

If you’re ready to take advantage of buying a home this winter, PrimeLending is here to guide you through your home loan process … and to share some hot chocolate! Contact a PrimeLending loan expert today.

from the PrimeLending blog, by Mandy Jordan

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