3 Secrets to Why You Should Buy a House This Winter

Have you been considering buying a house?

I know, moving in the winter sounds less than ideal, especially in Michigan. Cold weather, holidays at home, and snow are all reasons why you may have thought about pushing your move off until the summer. However, today, I am going to let you in on a few secrets that make moving in the winter a good idea.

There are 3 secrets to why you may want to consider moving this winter. The first is mortgage rates fell below 4% last month. We haven’t seen this low of mortgage rates since this past June. Second, you may like to consider buying a house this winter because it isn’t the most pleasant time to move. Buyers are typically scarce giving you the pick of the houses on the market. Lastly, sellers who keep their homes on the market during the winter are likely to be a little more flexible and motivated which could mean a better deal for you.

Let’s take a deeper look into these 3 secrets.

  1. 30-Year Fixed Mortgage Rates Fell Below 4%

    To be honest, I wasn’t sure if we would see an interest rate this low again. Yahoo! Homes reported last month that interest rates dropped below 4% for the first time since June.

    This winter, you can still lock in a low interest rate. For example, on October 22, 2013, you could purchase a home with a 30-year fixed interest rate of 3.98%. That low of a rate proves that this winter might be the perfect time for you to purchase a house.

    In addition, we don’t know how much longer 30-year fixed mortgages will be around. The Democrats and Republicans are deeply divided on 30-year fixed rate mortgages, and Washington is currently in debate about it. You can read more about this debate in our article, Will The 30-Year Fixed Rate Mortgage Disappear?
  2. A Less Competitive Market

    For the same reasons why you don’t want to move in the winter, other potential buyers are choosing not to as well. This gives anyone looking to buy a house during the winter an advantage. That advantage means that if you chose to buy this winter, you won’t face the same type of competitive market like you will in a few months. You may even be able to come in with a lower offer than you can in a few months from now.

    According to MSN Real Estate,

    “There will be less competition for any house you do find and fall in love with, and less competition should translate into a bigger discount. Prices are typically at a 12-month low in December, according to Realtor.com.”
  3. Flexible Sellers

    It’s no secret that selling your home in the winter can be difficult. As a buyer, you can use this non-secret to your advantage because those homes that are still on the market may have flexible sellers. Flexible sellers could mean many good things for buyers who are willing to brave the winter weather.

Now that you know the 3 secrets to why buying a home this winter may be the perfect time for you to move, please give our office a call. We may be able to get you into your dream house by Christmas.