5 Reasons Home Ownership Should be #1 on your February To-do List
Winter is a Great Time to Buy
Can you believe it's February? It seems the days since we welcomed in 2015 have passed faster than the Starship Enterprise at warp speed! But the year is still young so If home ownership is one of your New Year's Resolutions, now is a great time to begin the journey. Yes, I know, it’s darn cold here in the Twin Cities and you are happy enjoying your warm fires and cozy corners but don’t wait until the tulips are in bloom to start looking for a home. Pull on your boots and dig out your scarfs and mittens because here are 5 great reasons to buy a home now.
1. Less Competition
Spring brings droves of buyers out of winter hibernation looking for homes. As a wiley winter buyer you will face less competition for available homes, tipping the scales in your favor. Even though there are more listings to choose from in spring, chances are the home of your dreams may very likely be the dream home of other buyers as well. When this happens, you may find yourself in a bidding war or at the very least feel pressured to offer a higher price and make more concessions to the seller than you had planned in order “to get” that house before your competition steps in with a better offer.
2. Winter Buyers Enjoy Lower Prices and More Leverage
Spring rains cause rivers, creeks and home prices to rise. Historical data supports higher listing prices for homes in spring and summer months. It is not uncommon for a seller with a desirable property to receive more than one offer which results in less opportunity for you the buyer to negotiate price and conditions of the sale. In winter however, fewer buyers in the market inspire sellers not to let a good one off the hook by haggling over the price and the small stuff so chances are you can work out a better deal all around.
3. Buy While Interest Rates are Low
Right now 30 year fixed mortgage interest rates...