January is typically one of the slowest months in real estate. It is cold outside, the Holiday hype is behind us and home prices tend to be lower than warmer months. So why should you buy a home in January? Here is why:
1) Cold weather brings intensity in how your home stands up. Your furnace and plumbing are put the test with the cold. It is optimal timing to make sure all furnace and plumbing is working correctly. Your home inspector will be able to test these items for you and give you a complete health report.
2) Investment homes are easier to find. Investors are not likely to outbid on a property and this means more room for you to step up to the plate and get the deal before they get serious about looking for new inventory.
3) Not a lot of competition. People want to have moved into their new home prior to the holidays, so there is not a lot of competition fighting for the same homes in the marketplace.
4) Less traffic in homes, means sellers are eager to accept offers. Buying now could save you money. Once the leaves start developing a little green and coats turn into light jackets, more people will be putting in offers on homes.
5) Get a chance to see the yard and landscape in the winter. Lush landscaping won’t hide cosmetic problems on the home or make you fall in love with the flowers. Landscaping is easy to add later. Other fixes that can be seen at this time may need attention before you buy the home.
Buying in January gives you the opportunity to due some due diligence and negotiate a little more to buy your next home.