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Benefits to buying a home in the Winter

Written by: Nitin Bhagat, Financial Consultant

Manitoba winters are long and they’re cold. While many might prefer to hide inside where it’s warm, if you are looking to buy a house, it might be worth your while to get outside and begin the hunt.

While it’s true that the housing market slows down during the winter months, there are a number of advantages that could benefit you. Here are the top three:

 

  1. Less competition

Fewer people are out house hunting in the winter. What this means for you as a buyer is that you are less likely to encounter competition and bidding wars if you find a house you really love. This can also allow you more time to consider the purchase without feeling pressured, making the process less stressful overall.

 

  1. Motivated sellers

Winter isn’t an ideal time to put a house on the market because there are fewer people out house hunting. If a seller has chosen to do so, it is likely that they really need to move. This gives the buyer the upper hand because the sellers will be more motivated to get that sold sign up. If the home isn’t already listed at a lower, more aggressive price, you may be able to negotiate an even better deal whether that be the selling price, closing costs, closing date or terms of the sale.

 

  1. Assess the home in harsh conditions

Winter months are the toughest on the home. Buyers will have the perfect opportunity to evaluate the homes under the worst conditions. Pay attention to how well the furnace is working, if there is moisture on the windows, drafts in any of the rooms or if any doors are frozen shut. You’ll also get a better idea of what to expect in the winter months in terms of snow clearing. This is your chance to be extra critical before you commit.

 

So if you’re looking to buy, there’s no need to wait for the weather to warm up! And if you haven’t done so already, come sit down with a Westoba mortgage specialist. They will help you determine what you can afford and get everything in place so when you find the house of your dreams, the process will go as smoothly as possible.