Less Competition: During the winter months, fewer buyers are shopping for homes. This allows you to negotiate better deals and potentially score significant seller concessions.
Motivated Sellers: Many sellers are eager to close before the holidays to avoid double mortgage payments and the stress that comes with it, giving you an advantage in negotiations.
Future Refinancing: While interest rates may be higher currently, the option to refinance later can make purchasing now a smart financial decision if you can afford the current payments.
Take the 30 second mortgage quiz to see if you qualify
First and foremost, winter means fewer prospective buyers are out looking for homes. The combination of holiday festivities, cold weather, and family commitments keeps many people from shopping for a new house. This is your chance to step in where others are hesitant. By choosing to look for a home when most others are not, you position yourself to negotiate better terms and prices.
For instance, in a recent transaction, a property in Georgia garnered $116,000 in seller concessions—where the seller agreed to cover part of the buyer’s closing costs. Such significant concessions are rare in the competitive spring and summer months but can often be found during winter periods when the market typically slows.
Another benefit of buying a home in the winter is the presence of motivated sellers. During the holiday season, many sellers feel the pressure of double mortgage payments. They want to close the deal and alleviate the stress of holiday bills. This urgency often translates into more flexible negotiations. You might find sellers willing to entertain lower offers, agree to repairs, or provide concessions that can save you money in the long run.
Consider the story of the Georgia property mentioned earlier. After being on the market for 45 days, the seller was anxious to sell before Christmas—motivated by the desire to avoid additional stress and financial burdens.
Take the 30 second mortgage quiz to see if you qualify
Of course, with the current economic landscape, many prospective buyers are concerned about elevated interest rates. While there is valid concern regarding the cost of borrowing, it’s important to remember that rates are not at their historical highs, nor are they unattainable.
A key strategy is to remember that you can always refinance down the line when rates decrease. If you can comfortably afford your current mortgage payment, investing in a property now—even in a higher interest rate environment—can still be advantageous. The wisdom of “date the rate, marry the house” comes into play: focus on securing the home you want now, and consider refinancing when it makes sense financially in the future.
Buying a home in winter lends itself to unique opportunities that are not present at other times of the year. With less competition, motivated sellers, and the possibility of refinancing later, it’s time to think differently about your home-buying journey.
However, approach your purchase cautiously. It’s crucial to ensure you don’t overpay. Work closely with a knowledgeable realtor who can help you evaluate the market, price your future home fairly, and identify any potential seller concessions that could benefit your purchase.
Have questions about VA home loans? Click here to contact me.
I can originate VA mortgage loans anywhere that I’m licensed.
I’m licensed in Alabama, Arkansas, Arizona, California, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, and Wisconsin.
Additionally, our team can originate mortgages in several additional states through our corporate referral program.
If you’ve been denied for a VA home loan by major lenders like Veterans United or Rocket Mortgage, don’t lose hope. You still have a strong chance of getting approved. The reason? Many big online lenders enforce additional rules known as lender overlays, which go beyond what the VA itself requires.
If you’ve been denied for a VA home loan by major lenders like Veterans United or Rocket Mortgage, don’t lose hope. You still have a strong chance of getting approved. The reason? Many big online lenders enforce additional rules known as lender overlays, which go beyond what the VA itself requires.
Manual underwriting is a process that involves a human underwriter reviewing an applicant’s financial information instead of an automated system. This process can be used for VA loans when the VA’s algorithm doesn’t approve an applicant, or when an applicant has certain negative items in their credit history.
Take the 30 second mortgage quiz to see if you qualify
