Why Winter is the Best Season to Buy a House in Florida written by: Merovingian
The value of real estate is determined by many factors. These could range from size, location to aesthetics. Timing however, is one of the biggest determinants when it comes to value of a house. It is true that some seasons are better to buy a home than others. This of course differs from state to state because of the climatic conditions. A state like Florida for example is generally warm except for winter. So why is winter a good time to buy a house?
Cold
People are less likely to go around searching for houses when it’s freezing cold outside. Winter is the one time of the year when people prefer to stay indoors under blankets and fire. This means there is less competition and as a result you can get a good deal. When it comes to real estate, a house sitting in the market for too long is not good. Sellers will be desperate to sell their listed house as soon as possible. If you find a house on sale in winter, it will be available for the least price possible and you can negotiate even further.
School Going Kids
Parents who have school going kids will not want to disrupt their learning by buying and moving to a new home in winter. This means most parents buy new homes during summer when kids are home. It’s also a time when most people have just taken their kids back to school and are therefore short on cash. With parents of school going kids out of the market, demand is low and supply is high. This makes for a good time to buy property at low prices.
Holiday Season
The winter leads to the December holidays. Most people do not want to be moving to new homes over the holidays. It’s the time to travel,visit family and relax. People who want new homes often do it before the holiday get close so they will be settled by then. Those who do not wait for the rush season to end. Financial constraints( with all the gifts and traveling) also contribute to this shift. Real estate agents are desperate to close all their listings at this point to avoid taking them to the next year. There is also pressure coming from the home owners to sell fast. They sell their properties at very good prices just to get rid of them and have some holiday money. All these factors put together make the holidays the best season to buy a house in Florida.
According to a survey done by RealtyTrac, the best month to buy a house in Florida is October. This is the time when people get the best deals ,at 2.6 percent below the average market value. November, December and January are also really good because of the holidays, financial constraints and cold weather. The days are also significantly short and there is no time to go house hunting. Though spring is also a good time to buy a home, the price will not be as good as winters’.
When we reached out to a few Florida Realtor firms, we found that opinions varied as well. For example, we spoke with the broker at Palmetto Park Realty in Boca Raton who suggested that the best time to purchase is when you’re ready, and the macro-economy shouldn’t play into things. Meanwhile other brokers around South Florida have differing opinions.