Moving in the winter may not seem like the stuff of dreams, but when significantly lower rent rates or purchase prices are taken into consideration, it might be the best move you’ve ever made. From getting a better deal to figuring out how to lock in a lower interest rate, we want to show you how even if the weather is frightful, getting into a new home could be so delightful.

For instance, if the rental costs for both one and two-bedroom homes crest at $2,900 and $3,500, separately, in April or the late spring season. But in the winter season, the cost for one room tends to tumble to $2,750, and prices for two rooms go down to $3,190,” an article from Rent Own Sell recently noted.

That difference adds up to $1,800 - $3,720 a year in savings and if you decide to stay in the same space for another year, that savings compounds further.

Likewise, buying in the winter months will likely save you a significant amount, with an article from Bankrate referencing a study from ATTOM, an online property database which initiated that “based on the sales of 33 million single-family home and condo sales from 2013 through 2020, also noted that the lowest premiums above asking price occurred on days in early November, December and January, and in the last week in December. In other words, these were the best days to buy.”

It’s also important to remember that if sellers are choosing to sell in today’s market – cold and snowy – then that means they need to get a deal done, fast. That gives you greater room to negotiate the price and end up with a better deal. 

If that’s not enough to move you from your perch in front of a toasty fireplace to search for your new home, also consider that while interest rates are higher than a year ago right now, it is expected that they will be dropping in 2023, according to experts interviewed by Forbes. 

Getting a property under contract and refinancing once rates drop will build in even greater financial security, as your monthly payment will drop once the refinance is completed. Considering a 5-year or 10-year ARM (adjustable rate mortgage) with a lower interest rate is another way to work around today’s higher rates while still giving you the ability to close on a home at a lower price because of the time of year.

We’ve also shared another way to get a lower interest rate: to buy down points, which we covered in this blog post. Remembering to ask the seller to help you in purchasing points can help you lower your monthly mortgage payment and is another way to negotiate the deal. 

Having an experienced real estate agent by your side during this process can help ensure that you get the best deal available in these wintery months. If you’re ready to buy or lease, we’re ready to help you find your home! Reach out today so one of our real estate experts can help you find the home of your dreams, tomorrow.