On Tuesday, I discussed the pros and cons of selling a house in the winter. Today, I’d like to talk about buying a house in the winter. Many potential buyers I speak to, especially those who are currently renting or are first time homebuyers, think they need to wait until the spring to buy a house. The old assumption is that there is more inventory, so you are more able to find the right house. And because there is more inventory, you can negotiate better terms.

But as I said on Tuesday, you are likely to pay more in the spring. So if you can get a house at a 3-5% discount, there is certainly some merit to that. And if you do not have a need to move in the winter, but are simply doing so for convenience sake, you are in a situation where you have the ability to negotiate aggressively. And since most people who put their homes on the market in the winter due so out of necessity (relocating, income issues, etc.), you can often push for a lot more than you can in the spring when there are other buyers and less motivated sellers.

It is also important to see how the house holds up here in Michigan in the winter. Any house can look like a million dollar house in the spring, but how will your new home look when there is snow on the ground? How will the roof holdup when there is snow on it? These are important questions to ask, and you can get a better idea of what you are getting yourself into by seeing the house in the winter. Make sure to check the windows, the heating system, and the roof, because these are important parts of the home which you can’t really look into if you look in the spring.

If you have any questions about buying a house in the winter here in Michigan or need a preapproval letter, please contact me. If you have anything to add about buying a house in the winter, please leave a comment.