The 5 Key Advantages of Buying a Home This Winter

With Edmonton’s harsh winters, we understand the last thing you want to do head out house-hunting in sub-zero temperatures. But the truth is, there are many key advantages to buying a home in the winter that you just don’t get any other time of year. So, before you opt to put off your search until next spring, be sure to consider these top winter-buying benefits first:

1. Cut the Competition 

One of the biggest advantages of buying a home in the winter is the lack of competition. Cold weather aside, many Edmontonians are reluctant to buy due to the holiday season and/or the possibility of having to uproot their children from school. As a buyer who’s willing to brave the winter weather, however, you can look forward to fewer bidding wars and more attention from sellers – especially with the help of a qualified Edmonton REALTOR®.

2. Better Prices 

While Edmonton’s median home price will always be subject to current market conditions, homes are often more affordable during the winter. Because of the slower season, sellers are forced to price their homes more aggressively to reduce time spent on the market – amounting to some significant savings for buyers like you! In addition, sellers whose properties have been sitting for an extended period of time may be extra eager to negotiate.

3. More Room For Negotiation

Speaking of negotiating, winter savings can extend far beyond reduced home prices. With fewer buyers around, a seller may be willing to “sweeten the deal” by upping the incentive to purchase. This might include more flexibility on your possession date, paying part of your closing costs, making additional upgrades or repairs, offering to throw in a few furnishings, etc.

4. Fewer Frills

Edmonton is often referred to as a “winter city,” and for a good reason: our freezing temperatures can last for months on end. Buying during the winter gives you the unique opportunity to see past flowery curb appeal and evaluate a property under the harshest possible conditions – potentially saving you thousands of dollars. For instance, red flags such as an outdated heating system, roof problem (i.e. ice damming), inadequate insulation or a leaky foundation are often more apparent when the mercury drops.

5. Quicker Closing Times

The real estate market may be slower in the winter, but homes tend to close faster for several reasons. Of course, this is partly due to the fact sellers are more eager to complete the sale (as we mentioned above), but also because lenders, brokers, lawyers, home inspectors, surveyors, home movers and other real estate-related professionals have fewer buyers on the line – meaning you can look forward to shorter wait times.

In short, buying during the winter comes with many great advantages – especially with the help of an expert Edmonton REALTOR®. Regardless of the weather, a qualified agent will work hard to ensure you get the best deal possible. 

Are you thinking about buying a home in Edmonton? Check out our buyer’s resources! From choosing the right neighbourhood to tips to making home buying more affordable, we have everything you need to make your home buying dream a reality! Or, for all other things home-related (and much more), we invite you to visit our blog!

Photo credits: shutterstock.com

Categorised in: Buying a Home

This post was written by Terry Paranych Real Estate Group