Three Reasons Why Selling Your Home During the Winter Could Work for You

 Posted on November 21, 2019 in Real Estate

There is no question that spring and summer are the most popular months for buying a home. Therefore, they are also the most popular months for selling a home, since you cannot buy a home unless someone is selling.

While winter does not officially begin for another month or so, the cold season has already made its presence known in Northern Illinois, and we all know that it is here to stay for a while. With this in mind, you might have decided to wait until the spring thaw to put your home on the market. Some experts believe, however, that selling your home during the winter could be very rewarding for several reasons.

Reason #1: Less Competition

Because everyone “knows” that springtime is the season for selling a home, many people choose to wait. If you wait too, there probably will be hundreds of other homes available, including many near your neighborhood. With winter comes fewer available homes, which means your home will be in a better position to stand out. Fewer options will push potential homebuyers in your direction, even if not as many people are looking for new homes. The question is one of supply and demand, and the winter season is often a seller’s market

Reason #2: More Serious Buyers

In addition to there being fewer homes available, there will also be few buyers in the market for a new home. Once spring rolls around, you are more likely to have to deal with casual “lookers” instead of serious buyers. It is not uncommon for couples and families to begin browsing the real estate market long before they are ready to buy, but it happens much less frequently during the winter.

Serious buyers could be motivated by their growing families or being forced to relocate for work. Year-end or holiday bonuses could be used as a down payment, as well, helping to turn a looker into a buyer.

Reason #3: Showing Off Your Home

If your home is well-equipped to deal with the harsh winters of Northern Illinois, there is no better time to show off those features than during the winter. For example, new windows and a new high-efficiency furnace are likely to have greater immediate appeal to a would-be buying when the snow is flying than they would in the middle of summer. Fireplaces and hot tubs could also be major selling points in the colder months.

Lastly, almost every home looks better when it is decorated for the holidays. Holiday decorations could allow would-be buyers and guests at your open house to feel more at home, which is often a contributing factor in making the decision to buy.

Work With a Lake County Real Estate Attorney

If you are considering selling your home this winter, there are many legal concerns that you will need to address before you can give the keys to the new owner. Contact an experienced Libertyville residential real estate lawyer at Newland & Newland, L.L.P. to get the guidance you need throughout the process. Call 847-549-0000 for a free phone consultation today.

Sources:

https://www.realtor.com/advice/sell/reasons-to-sell-a-home-in-winter/

https://www.thebalance.com/top-tips-to-home-selling-in-winter-1799078