If you’ve been on the fence about buying a home. The upcoming winter season may be the time to do it.
Mortgage rates are low, demand for movers is waning, and you’ll enjoy serious savings on several levels.
Are you considering a home purchase in the near future? Here’s why you may want to do it soon.
1. Less competition.
There tend to be fewer people out shopping for homes in the wintertime. Many are saving their cash for holiday gifts or trips to see family, and the hustle and bustle of the season often keeps them off the market.
For those who do decide to shop, it can mean fewer bidding wars, more flexible negotiations, and more wiggle room on price.
2. Cheaper moving costs.
For moving companies, winter is the slow season. There’s not much demand, and movers are generally more available and flexible, schedule-wise. Even better? They’re often more affordable, too. You’ll get an especially good deal if you opt for a weekday or move at the beginning of the month (these are slow times for movers, too).
3. School’s out.
If you’ve got kids, buying a home in winter is a win-win. There’s no school to work around, the weather’s cool (no complaining about being hot during the big move), and you have plenty of time to get settled in and comfortable before heading back to work.
If your move will mean switching schools, it also allows your kids to make the change at the start of a new semester — which may be easier learning-wise.
4. Lower home prices.
Data shows that homebuyers tend to pay the least when purchasing a house in the winter. In fact, according to a report from ATTOM, nine of the top 10 days to buy a home fall between November and February — the coldest months of the year.
December 26 is technically your best bet. ATTOM’s data shows buyers save around $2,500 by purchasing a house on this day.
5. Mortgage rates are super low.
Interest rates have hit record lows several times this year. Most recently, Freddie Mac reported the average rate at a mere 2.80% — the lowest point ever on record.
Lower rates don’t just mean lower monthly payments, but they could also help you expand your buying budget, meaning a bigger house, more space, or maybe even buying in a better neighborhood, all without raising your payment.
The bottom line
If buying a home is on your radar this winter, get in touch with Premier Nationwide Lending. We’ll get you preapproved for your mortgage loan, so you can shop with confidence.
Premier Nationwide Lending is an Equal Housing Opportunity lender. Sponsored by NTFN, Inc. 6201 West Plano Parkway, Suite 100, Plano, TX 75093 | NTFN NMLS 75333.