Winter is usually one of the slowest times of the year for the housing market. People are typically spending their time and money on other things. Some buyers even stop looking for a few months because they will not be available for closing should they find something. But for someone who is ready to move to another Austin home or is preparing to move to Austin from elsewhere, wintertime can be a great time to buy. Let’s take a look at a few reasons why.
Let’s face it. If you have a pressing reason to move, it doesn’t really matter what time of year it is. If you are starting a new job in the area or your old lease is up, it’s best to find a suitable home sooner rather than later. Staying in a hotel or suffering a long commute gets old, especially in the wintertime. With a baby on the way or a wedding on the horizon, you might be looking for a bigger house. Settling into a new Austin home is best done before the rest of your life changes and you have less time to find the right place.
The lending rate is usually lower in the winter than in the spring. This makes buying a home in the winter more affordable. A few points might make a difference on how much home you can afford and how much of a down payment you are willing to make.
With fewer buyers on the Austin real estate market in the winter than the spring, there is less competition. You might be able to find something in your price range and location more quickly. Another possibility is finding a motivated seller. With fewer prospects, the seller might be more willing to help with closing costs or make a desired improvement as part of the contract.
In some parts of the country, January is a time to stay indoors and hibernate. In Austin, we are fortunate to have mild winters. If you are ready to buy an Austin home, take advantage of the slower market this time of year and find your dream home. Contact York Real Estate. We can help.