6 Reasons to Buy in the Winter
The lower winter inventory may scare off some buyers, but rather than being scared, just think of how motivated the sellers are! We gathered some of the most compelling reasons to not wait until spring to buy your next house (or your first!).
Denver's home values rose 16% in 2015, and are predicted to increase another 5% in 2016. That being said, buying during the winter will ensure less competition on the lower winter inventory and increase the likelihood of your offer being accepted.
2. Realtors love this time of year.
How does this help the buyer? Because the demand is typically lower on real estate agents in the winter, they are able to spend more quality time focusing on you and your specific needs. This is not to say you won't get the same high quality service in the busier real estate months, however; scheduling viewings is a lot more flexible with the decrease in demand on your agent.
3. Seasonal Demand
Seasonally, the demand for housing increases in the late spring months on into the summer. However, with Denver's real estate market, the inventory is not likely to match the demand that the late spring and summer months bring. Likely, this winter you will have less competition and more inventory when compared with the expected demand and lack of inventory as compared to the demand in the high season.
4. Witness a Home's Winter Wear
While you may miss out on some curb appeal during the winter, you'll be able to witness the furnace in full swing, notice any ice dams on the eaves and valleys of the roof, or drafts within a home.
5. Mortgage Rates Are Typically Lower in the Winter
With the exception of 2014, 2011-2015 showed that interest rates in January are lower than the proceeding months. Lower interest rates mean more of your money can go toward more house rather than the financing of it. (Source: freddiemac.com)
6. You Can Get A Good Deal
Winter sellers are motivated. If someone is selling in the winter, they are usually eager to get out of their home sooner rather than later. With this, and the lowered competition you (with the help of your Realtor) have a great chance at negotiating something both you and the seller are happy with.