“Why do people like to wait until the spring or summer to purchase a home?
What is it about the spring and summer that makes people feel it’s a better time to buy a house?”
While we know spring and summer are great seasons to shop for a home, did you know it is actually better to buy a house during winter versus spring and summer?
Don’t let the real estate market fool you, there are many benefits to buying a house in winter vs summer in Central PA.
During our Facebook Live, we discussed the pros and cons of buying a house in Pennsylvania during the winter and we’d like to share why winter is a good time to buy a house.
3 Benefits of Buying a House in Winter vs Summer
When spring hits Pennsylvania in late March/early April, the weather warms up and many people are eager to leave the homes that they’ve been cooped up in during the cold, winter months.
This is especially true for people who were waiting until the spring to begin their home buying process. For individuals with children, waiting until spring seems like the perfect time to begin house shopping since the school year will end soon, warm weather is slowly approaching, and many new homes start to appear on the market
However, when you are one of many who are thinking about buying a home in the spring, you now enter into a pool of hundreds of potential home buyers who are also looking to buy and searching at the same time.
If you’re serious about buying a home, here’s three benefits of buying a home during winter.
1 – The PA Real Estate Market is Less Competitive During the Fall/Winter
The spring and summer months of May, June, July and August, are the most active home buying months, according to the National Association of Realtors.
In a buyer’s market, this won’t be a huge deal as there will be plenty of inventory, aka homes for sale, for potential buyers
However, if you’re looking to buy a home while in a seller’s market, you’ll have to compete with more home buyers, and there’s a higher chance you may lose out on your dream home due to a competing offer. You may place offers on several homes before you get one that is accepted, which can be frustrating.
But, when you buy a home during the fall or winter, there is usually less competition among buyers because fewer people have extended their search from the spring/summer into the fall/winter.
2 – You Can Get a Better Deal on Your Home In Fall/Winter
Now, as we mentioned above, during the winter months, you’ll have less competition from potential buyers.
Another benefit to buying a house in the winter vs summer in Pennsylvania is you can potentially get a better deal on your home.
Typically, fewer people list their home for sale during the winter months, but people who do are often in situations where they need to sell regardless of the ebbs and flows of the market.
If you’re looking to buy a house in the winter, you may be able to get a better deal on your home because the sellers are desperate to get their home off the market and may be open to negotiations on the sale price or other contingencies.
For instance, if the home has been on the market for a while, you may be able to negotiate the price or maintenance/repairs on the home. In some cases, the seller’s may be more willing to offer seller’s assistance if they want to sell quickly and there’s few offers available.
Whatever the case, you can potentially get more home for your buck when you buy a house in the winter.
3 – It May Be Easier To Find Vendors During Winter vs Summer
Another way the summer season brings out competition during the home buying process is the competition for vendors.
When we say vendors, we’re referencing the many different businesses or entities you may need to work with throughout the home buying process, from appraisers and mortgage lenders to moving companies and inspectors/contractors.
During the spring and summer months, many people are out shopping for homes. And, with more people shopping, there’s a greater need for common services that take place in real estate transactions, such as contractors for home repairs or moving companies.
For example, during the summer months when there is greater competition among home buyers, and a high demand for home appraisals you risk having to wait weeks to receive your final results, which, in some cases, may jeopardize your closing date.
However, during the winter months when fewer homes are on the market and there’s less competition for homes, you may obtain an appraisal weeks before you would during the summer.
Winter time is often a slow season for many businesses, so if you need a moving truck or another service, you likely won’t have to wait.
Is Winter a Good Time to Buy a House in PA? – Yes!
Seasonality always is a factor when someone decides to buy a home, but don’t let the fall/winter scare you. Winter time is a great time to buy a house if you are ready to begin that new journey.
If you live in Harrisburg, Mechanicsburg, Hershey, Hummelstown, Carlisle, or Lancaster, and you’d like to speak with a licensed real estate agent about buying a home (or selling your home), complete our online form and we’ll be happy to reach out to learn more about your motivations for buying a home.