Five Reasons Your Chicago House Buying or Selling Experience is Hotter when the Weather is Cold
The city of Chicago comes alive during the warmer months. People flood to the beach or Wrigley for a day in the sun.
This excitement seems to step down a notch during the winter months. Suddenly, people are rushing from one building to the other to escape the wind. They are curling into their blankets, and only leaving the house when they absolutely have to.
Winter in Chicago isn’t exactly the time that anyone wants to do much of anything, and that includes house searching.
Real Estate simply has more curb appeal in the spring, when the grass starts to get green again and the front foliage begins to fill out, however, what many people don’t acknowledge when looking to buy or sell a house, is all of the benefits they can experience if they choose to pursue the marketing in the winter.
Here are just a few reasons why buying or selling real estate during Chicago’s winter months can be more beneficial than entering the process in the spring/summer months:
Less Competition
Whether buying or selling, winter months become a less desirable time for people to move. As a result the inventory and demand is very low as most buyers and sellers tend to wait out the cold and start the buying and selling process in the springtime. Less competition in the home search means far less negotiating required of both buyers and sellers. This helps to ensure a much smoother process for all involved.
More Pressure on Both Sellers and Buyers
In most cases, if someone is buying or selling their home during winter months, there is an urgency to move quickly. They may need to relocate, or they may be looking to upgrade to a home that better accommodates a growing family. Regardless of the reasoning, the combination of the need to sell or buy and less demand on the market puts the buyer and seller in a position to move quickly. Transactions with motivated buyers and sellers will often be a little more lenient on price and post-inspection demands. Sellers listing their homes during winter months are likely motivated to sell quickly. Alternatively, Buyers who are motivated to move during winter months are typically more serious and ready to make reasonable offers.
More Year-Round View of the Home
During the summer months, there is one thing that an inspector can’t determine, and that is how well the house can handle the cold Chicago winters. If you buy a home during the winter, you will know when viewing the house just how well it can handle cold weather. You will be able to see the way the house looks without the disguise of foliage. You will be able to see how well the heater works, and most of all, you will be able to tell very quickly if there are any flaws in the insulation. Many summer buyers face a hard reality, not to mention a large utility bill, in the winter when they find that their new home can’t quite manage in the cold weather the way they did in the summer.
Buying in the winter can help to save you some cold nights and an outrageous bill to fix the heater or flaws in the insulation.
In addition, when selling a house in the summer, your buyer may require more expensive tests to investigate how “winterized” the house may be. This addition in the inspection could end up costing you money, even if the house is insulated and ready for the long winter ahead. When you sell your home in the winter, the buyer will be able to see for themselves just how well the home can handle the harsher weather, and may spare you the extra steps and negotiations in the inspection.
Year-End Bonuses and Taxes
Many find the end of the year, or tax season, to be the best time financially for them to purchase or sell real estate. Many people receive year-end bonuses or are eligible for tax incentives. This money can help with the many financial factors involved in buying a home, from the down payment to any renovations needed before or upon moving into a new home.
This money can also benefit the seller who may be facing real-estate fees, closing costs, or a down payment on a new home.
Start Fresh When Spring Hits
A house is rarely exactly how you want it when you first move in. When you move in during the winter months, it allows you to start fresh in the beginning of spring with landscaping and other yard work and renovations rather than spending your whole summer on these projects. This allows you to have more time to enjoy your new home and yard before the winter returns.
If you are looking to sell your home in the winter, you can benefit from the flip side of this. You will not have to worry about spending money to landscape the home to increase curb appeal for the sale. Most people looking in the wintertime will be looking more at the home itself rather than the money spent on landscaping and foliage.
Buying or selling real estate, no matter the season, is a big decision and can be huge investment for the future. If you are looking to buy or sell real estate but want to ensure that you are getting the fairest deal you can, hire an attorney to review the contract, assist with negotiations, and guide you throughout the process.
Contact Us today, and let us help you with your home-buying process.
