Advantages to Selling Your Home During the Winter
One common homebuying myth is people don’t buy houses during the winter. Although the spring and summer months are traditionally the best times to sell your home in Brookings, SD, you shouldn’t dismiss the winter months. As any South Dakotan well knows, December through March can serve up some pretty nasty weather, but don’t let this discourage you. Winter homebuyers are out there searching and the real estate experts at Brookings Home Team are here with a list of advantages to selling your home during the winter.
Winter Presents Its Challenges
Living in the Midwest, the thought of a home sale during the winter months may sound like a major undertaking. Things like sub-freezing temperatures, gusty winds, snow, and ice can make even the easiest, daily activities seem like challenging projects. Below are some potential issues you could run into along the way if you decide to sell your house this winter:
No Off-Season on the Internet
It’s no secret that most homebuyers start their search for a new house online, no matter if it’s sunny and 80 degrees or snowy and -20 with the windchill. The Internet has no offseason and winter home sellers should take full advantage of this aspect. Work with a trusted real estate team like Brookings Home Team to ensure the best, possible listing, and consider using tools like professional photography and virtual showings for an extra advantage.
Buyers Are Motivated
The winter months tend to bring out motivated buyers. Think about it: When the weather is cold and snowy, you tend to limit your outdoor activity, right? This will reduce (if not eliminate) the window shoppers who aren’t ready to buy yet. Oftentimes, a winter homebuyer is being faced with relocation or expiring lease, creating a sense of urgency.
Fewer Sellers to Compete With
As we previously mentioned, fewer homebuyers during the winter can equal fewer opportunities for multiple offers. However, there is also less inventory during the winter months, which means less competition from other sellers.
Buyers Have Vacation Time to Burn
The winter holiday season can be busy, but it’s also the time of year when people are using up their vacation time (or PTO). They have more time to browse online listings, research the market, and schedule home showings. Remember, most winter homebuyers are highly motivated, so make the most of this opportunity to generate interest in your house.
Beginning of Winter Also Means Year-end Bonuses
Just as the holiday season can offer homebuyers extra time off, December can also bring year-end commissions and/or holiday bonuses. These financial windfalls could mean more money to spend on a home.
Possible Tax Benefits
Speaking of the end of the year, did you know that buyers who purchase a home before year’s end not only can write off certain expenses, but they also stand to benefit from multiple tax breaks? Generally, a homeowner can take advantage of deductions relating to real estate taxes, mortgage interest, and private mortgage insurance (PMI) premiums.
As we stated before, winter homebuyers are highly motivated and this financial gain is just another reason why. Plus, if you’re buying and selling a home at the same time you too could be eligible for tax benefits.
Use Winter Weather to Your Advantage
Again, we’ve discussed how winter weather can hamper your ability to feature some of the exterior characteristics of your home, but this is also a perfect time to show that your house can withstand the winter elements. Tell prospective buyers about your new furnace or roof and highlight features like a short driveway (less shoveling), fireplace (added warmth), heat tape on the north side of the roof (prevent snow accumulation), or south-facing driveway (quicker snow and ice melting).
Making Room for New Additions
According to a recent article in Reader’s Digest, September is the most popular birth month, which means new parents and growing families could be looking for more space come wintertime. After parents bring home their newborn and get settled in, they may realize their apartment or small home is too crowded.
Should You Sell Your Home This Winter?
Is now the right time to sell your home? While there are both advantages and challenges that come along with a winter home sale, discussing your situation with a real estate professional is a step in the right direction. Call the Brookings Home Team at 605-691-3023 to speak with a Brookings Realtor® or simply use the contact form on this website. We’d love to hear from you!