Pros and Cons of Buying a Home in Winter

Pros and Cons of Buying a Home in Winter

Spring is often considered to be the best time of the year to sell a property as the weather improves, gardens come to life and houses become flooded with natural light. During the spring and summer months buyers are more motivated to get out and about and view properties and the balance between selling and buying tips in the favour of the sellers. When the winter months arrive, the balance reverts back to the buyers as less homes come to the market and there are less people picking up the phone to book viewings. But there are plenty more pros and cons to buying in winter and here are just a few:

PROS

Less competition - The most obvious advantage of buying and moving in winter is the reduced competition from other potential buyers. The likelihood of entering into a bidding war is likely to be diminished in comparison to the summer months.

Price adjustments - The losing law of supply and demand could very well work in a buyer’s favour, as asking prices tend to decrease as demand falls.

Sellers are more motivated to sell - In the winter months, sellers may be distracted and less focused on selling their home, but they are also more likely to be more motivated to accept an offer.

You see if the property is overlooked - With trees losing their canopies during the winter months you are able to get a sense of how private the house remains during the winter months.

A measure of the effectiveness of the heating and insulation - Central heating and thermal insulation of windows and doors can be checked during viewings. Fireplaces may also be lit, which provides a viewer with a sense of how easy or difficult it will be to heat the home.

More removal companies are available - With most people moving in spring and summer, once the property purchase has been completed it will be easier to hire a moving company who will be able to accommodate your move date.

CONS

Less stock - Stock levels tend to drop during the winter months as the majority of people looking to sell their homes decide to wait until spring and some sellers even losing to take their homes off the market until the weather improves.

You might not get a sense of the outdoor space - House hunting in the winter allows viewers to test the indoor heating, but it doesn’t always allow you to see the full potential of a garden, which may be dormant or covered with ice and snow. For this reason, buying in the winter may require taking a gamble on what the spring will bring to the garden.

Moving in winter can be more stressful - Moving day is always challenging, but inclement weather, ice, snow and freezing temperatures can align to create a thoroughly unpleasant and stressful experience.

Family life can be disrupted - Moving can be a difficult time for children at any time of the year, but it can be especially disruptive when they are in the middle of a school term. Whether they are changing schools or not, it might be difficult for them to re-adjust to their routine when they have a new house and room to contend with.

There are many pros and cons to buying a home in winter, however the most important consideration is for you choose to move at the right stage of your life and to a home which fits your requirements with as limited number of compromises as possible, no matter what the season.