Cozy up to a winter mortgage

1. There are fewer buyers.

With less competition and fewer dedicated house-hunters, the colder months present an opportunity to snag a good deal.

2. You may get a better deal.

Winter isn’t the most convenient time to move, but a home on the market now might cost more in the spring. Not only are asking prices typically lower, but sellers and agents know it's a slow time of year so they might be more accommodating on price and other terms.

3. You may not have to negotiate as much.

One of the nice things about homes being sold in winter is that many sellers are already aware that the season requires compromises, which means you will find many homes priced to sell. Also, less competition means there’s less of a chance you’ll face a competing bid.

4. See how a home works in harsh weather.

Once you buy, you'll be enduring many winters in the home so you might as well see what they'll be like. Do the leafless trees expose the neighbor's junky yard? Is the kitchen just too dark in the morning? If so, you want to know. And if a home is pleasing in January, it's sure to be great in June.

5. The seller may be moving out of necessity.

Homeowners are just like everyone else – many of them would prefer to sell in the spring or summer. However, they could be in a situation where selling is necessary due to circumstances beyond their control. As a buyer you benefit from their need, closing sooner and for a better price than you would in the more popular months.

6. Everyone is less busy. 

There are some great benefits to buying a home in the winter. Nothing is certain, but it wouldn't be surprising to see prices bump up a bit in the spring due to a flood of eager buyers. People find their ideal house quickly, and they are willing to pay a higher price. So if you could live with a move in the winter rather than spring, consider buying a home during the cold months.

Ready to make a move? Talk with one of our mortgage experts.