Young woman on a cozy beige sofa, looking at homes for sale on her laptop in Fargo, ND

6 Reasons to Buy a Home in Winter.

Cold days. Hot listings. From less competition to more motivated sellers, here are six surprising advantages of buying a home during the winter months.

Is It a Good Time to Buy a House?

As the temperatures drop, you may be wondering whether winter is a good time to buy a home – especially here in snowy North Dakota and Minnesota.

6 Reasons to Buy a Home in Winter:

While most people kick off their house hunt in the warmer months, there can actually be quite a few advantages to buying a home during the wintertime. Wondering why it may be worth your time to dig out those snow boots and hit the pavement?

  1. More affordable home prices

    During the winter, you just might get a better deal on your dream home. In fact, on average, home prices are typically lowest in January and February (ATTOM Real Estate Data, May 2023). With fewer buyers in the market, sellers are often more open to negotiation – resulting in lower prices and more favorable terms for buyers.

    In other words, you may be able to reduce your monthly mortgage payment and put a little extra savings toward movers, new furniture, renovations, you name it.

Pro Tip:

Not quite sure how much house you can afford? Try our handy mortgage calculator to estimate your monthly payment!

  1. Senior gentleman drinking coffee while looking out his window on a winter day in Bismarck, NDMotivated sellers

    New jobs. Retirements. Life changes. Whatever the reason, winter listings are more common for motivated sellers who need to move quickly (Yahoo! Finance, Housing Market 2023).

    As a buyer, this situation can work in your favor when it comes to negotiating the sale price, appliances, repairs, closing costs and more.

  2. Personalized attention from your realtor

    Since fewer people tend to go house hunting in cold weather, your real estate agent will likely have more time and availability.

    That means you can benefit from more focused, one-on-one attention during the winter months – particularly if you’re a first-time homebuyer.

  3. Reduced competition

    While there may be fewer homes available during winter, this can actually simplify your search. With fewer buyers in the market, you're less likely to get caught in a bidding war – and more likely to have your offer accepted with fewer conditions.

  4. Winter weather views

    Snow. Wind. Ice. For better or worse, house hunting in winter allows you to see your potential property in its least attractive state, complete with bare trees and the occasional drafty window.

    The good news: this presents a great opportunity to evaluate how well the home copes with the cold, from efficient heating to insulation.

  5. Faster closing

    Since the winter season typically sees fewer home sales, this can expedite the entire buying process. You may be able to take advantage of faster approvals and more flexible schedules with movers, too!

Ready to Make a Move?

To make the most of your winter house hunt, get your finances bundled up. Start saving for your down payment, and know your overall budget. Oh, and if you aren’t quite sure where to start, just ask! Connect with a local lender, who’ll be more than happy to help you understand all of your options.

At Gate City Bank, we’re always here to walk you through every step – whatever the weather!

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