3 Reasons to Buy a Home this Winter

3 Reasons to Buy a Home This Winter

When most of us think of winter, we think of the holidays, sitting around a warm fire, dead trees, or having the kids back in school. Real Estate is very much a seasonal industry, however people are constantly buying and selling throughout the year for many reasons. If you are one of those people who are thinking of buying a home (or maybe haven't even thought about it) this winter, let me show you 3 great reasons to buy now:

Reason #1: Less Competition

As human beings, we naturally find ourselves migrating less this time of year. Most families have kids in school and don’t want to fool with moving during the holidays. With fewer people wanting to move, this means less competition among buyers in the market.

Reason #2: More Negotiating Room

With fewer buyers in the market, this means fewer offers and homes sitting on the market longer. Sellers are looking to sell and are willing to negotiate on price, repairs, closing costs, home warranties, and more. You are also less likely to have any multiple-offer scenarios, which puts you in a great position, especially if you can find a home that has sat on the market. Are interest rates up? Have the seller help buy down your rate. Old HVAC System? Get closing costs paid to help reimburse a future expense! Remember that buyers dictate the market, not what the seller is asking!

Reason #3: You’re Likely to Get a Better Deal

With less competition in the market and more room for negotiation, you're more likely to pay less and get more on your next home. In the year 2022, peak summer months saw Knoxville homes selling for 99-102% of the asking price (which means homes selling over asking, which means you guessed it: bidding wars). In December, that figure fell down to 95%. For reference, that's $25,000 off of a $500,000 home. Let the seasonal fluctuations of real estate be in your best interest.

If you’re considering buying a home this winter, maybe these 3 reasons will give you some peace of mind.

Do I know everything and have a crystal ball? No, sadly. Will I call you back and talk enthusiastically about real estate (or anything else for that matter)? You bet.

Call or text me anytime; I looking forward to speaking with you.

(865) 776-8167

Lance Hamilton

EXIT Tennessee Realty Pros