Going to tree lightings, drinking hot coco, decorating for Christmas, getting together with family and friends and trying not to put on too many winter lbs. This is what most people think of when it comes to winter in the inland northwest. But what if I told you there’s a real case to be made that buying a home in winter is the best time of year to do it.
So let’s get into, here’s my case for buying in winter.
No one wants to shop in winter
If you’re willing to brave the elements you’ll instantly reduce your competition and increase your likelihood of getting the home you actually want. So keep your pre-approval current and buy when competitors are focused more on turkey.
That being said you’re unlikely to encounter zero competition and the competition you will encounter will be very serious buyers just like you, don’t underestimate this and think you can get crazy offers to land.
One thing to note with severe weather, please don’t be reckless. I showed a property a couple of years back and the buyer slipped and broke her lower leg following some freezing rain. Winters here in the Inland NW are no joke. So bring appropriate footwear or something like YakTrax that can go over your shoes when conditions get bad. And if snow dumps over night, cancel your showing and reschedule, everyone is going to understand.
Homes are cheaper in winter
So you’ll have less competition which is huge. But here’s the kicker, you could also pay less for the home. This isn’t speculation, this isn’t a ploy to get you to buy a home. This is statistical fact.
Here is a chart detailing the national median home price for the past 5 years. What can you see? 5 low points on the chart. What do those low points colleralate to? Winter.
And it’s not a tiny variation either. In June 2023 the prices were 416K and in Jan 2024 they were 383K. That’s a 33K swing or 8%. That’s a substantial difference. Think about that, if you just bought in winter and sold in summer for the rest of your life you could be ahead in terms of equity by $100Ks just because you were prepared to go outside when it’s cold. If you’re a young home buyer feeling like you can’t get ahead, this is s a strategic advantage you can give yourself in a market that, at times, seems to be rigged against you.
You can spot defects easily
Have you ever heard the phase, fix the roof while the sun is shining? Well the opposite can be true when it comes to buying a home - if you can see a home in the rain you’ll be doing yourself a huge favor. Leaks are easy to spot. Moisture intrusion into the basement is easy to see. You can also tell which rooms are colder than others, which windows are drafty and where the water runs too in the rain, does it run towards the foundation or is it directed away from the property properly with good grading and gutters.
On the flip side of this the snow can conceal defects. You’re unlikely to get a sound opinion on a roof when it’s covered by snow. Also AC units and sprinkler systems cannot be tested below a certain temperature so you’re definitely taking a risk on a couple of things when it comes to buying in winter.
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That’s it for this video. If you are willing to move when no one else is and if you’re willing to brave the elements you can reap significant rewards. And if you want a real estate agent who will be there in the wind, rain, snow and sleet then look no further.
-Phil Wells, real estate agent licensed in WA & ID - (509) 992-9332
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