It’s a common misconception that people don’t buy homes in the winter! That is just not the case! The real estate market heats up during the cold months, and here’s why.
#1. Buyers mean business.
The homebuyers who are looking for a new home in the winter often have a motivation to do so. These reasons could be anything from a new job, relocation, or a lifestyle change (e.g., growing family, divorce). Due to a higher incentive, these buyers will make their decision quicker than those without.
#2. Less Competition.
Homebuyers naturally prefer less competition. Many people believe that winter is an inactive period for homebuying which means that fewer competitors are vying for your dream home!
#3. Looking at homes is an indoor sport.
With most home searches starting online, homebuyers can research homes on cozy sofas from the comfort of their warm home. With the popularity of online real estate searches, buyers can view floor plans, homes, and lots without stepping out of the house. They can also narrow down their selections before heading out to browse the home physically.
#4. The quicker you start to build, the faster you reach your move-in date.
Let’s say you’ve decided to build your next home and are looking to move in the spring or as soon as the school year ends. Don’t wait until the spring to get it started! In January and February, the homebuilders have more time to work with you, one-on-one, so your home can be ready to move into when you need to. Check out our inventory of move-in ready homes that are either under construction or completed to see if one works with your timeline.
#5. It’s almost tax return season.
Are you awaiting a tax refund from the IRS? Use that money as an investment towards buying a new home! Home values have been increasing and investing your return in the real estate market while also living in your dream home is a win-win scenario.
#6. Prices and interest rates continue to rise.
As the market rebounds, So will home prices and mortgage rates. At this time, both are still low but the unbeatable deals we saw a couple of years ago are in the past. The longer you wait, the more you will pay. With rising mortgage rates, you will also get less home for your money. We’re anticipating a price increase in the latter part of this year in the Oklahoma City market. Now is the time to move.
Ideal Homes currently has 18 new home communities in greater Oklahoma City metro region, including the popular suburbs of Edmond, Norman, and Moore. Many of these communities feature quick move-in homes! With so many reasons that are in favor of the winter homebuyer, don’t wait. Contact Ideal Homes to put this valuable time to work in your favor.