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Now is the Time to Buy a New Home

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Now is the Time to Buy a New Home11/13/2017

Winter is not a popular time to move. In fact, most Americans move between May and September. While the idea of moving in the cold months and possibly having to deal with adverse weather conditions may not be appealing, moving during the winter can save you lots of money. Read on to see the three ways starting your new home search now can save you!

  1. Less Competition
    Because so few people want to face the cold and potential snow to move between November and February, there is less competition for everything you need to move. Asking neighbors and friends for their old boxes and packing supplies can be a cost save, and during the winter there will be less people clamoring over these items. There will also be less competition to hire a mover, which means you can get your first choice. And there will be less competition when you put an offer. This can limit the potential of multiple offers, bidding wars, and sellers will be more eager to work with you!
     
  2. Lower Prices
    It is well documented that homes are less expensive in the winter, with closings that happen in January proving to have the most bang for your buck. In 2014 the median price of homes during the summer was 220,000, but prices dropped to below 200,000 in January 2015.  Not only are homes typically priced lower in the winter months, but you can get discounts on movers too. Because less people are moving during winter you can get a deal on a mover, often get your first choice in company, date and van size, and you can sometimes make last minute reservations without penalty.
     
  3. Mortgage Rates May Change
    Mortgage rates don’t always change from year to year but there is always the chance that they will go up in the new year. Mortgage rates are still at historically low prices though, so you should lock in a rate now. PCU offers great rates on mortgages, and with our online application you can know how much you will be approved for quickly. Or you can come into one of our branch locations and talk to someone about your loan options in person. Our staff is ready to help you buy the home of your dreams this winter!
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