Winter is a great time to pick up an investment property in Chicago. Learn more about what to expect and how to do it in our latest post!
Many people stay away from the real estate market during the winter months, but this is all the more reason why you should be looking! For homebuyers in Chicago, winter can be an excellent time to buy! The market is slower, there is less competition, and transactions will typically move much faster, Keep reading to learn more about why you should buy your investment property this winter in Chicago!
During the winter months, sellers are usually a bit more motivated to sell their homes fast. There are fewer buyers out there which means they won’t be receiving as many offers. Plus, if they are selling during the winter, they might be more eager to sell than someone selling during the summer months. To pick up and move, pulling kids out of school and battling the elements wouldn’t be anyone’s first choice. Houses will usually sit on the market longer during the winter, which is tough for people who wish to sell their houses right away. If a homeowner needs to sell their house fast in Chicago, there is likely a reason why. Because of this, they will likely be more eager to sell the house – meaning you can get a better deal on the property!
Experience The Elements
By seeing the investment property in the winter, it will be easier to spot drafty windows, a leaky roof, or a room that requires insulation. You will be able to see how the house handles the cold, rain, and even snow. These are things you wouldn’t be able to determine during the warmer months and could end up costing a pretty penny to fix. You wouldn’t want to buy a house in the summer only to find that it is absolutely freezing during the winter months! By knowing what to expect during the winter, you’ll be able to make a better choice about purchasing the property. Having this information will help you better negotiate a great price for your new home in Chicago!
During the winter, there are fewer people out there buying homes. The market is slower and there is a lot less going on in the real estate world. The weather is cold and people don’t want to go out. With the holidays, the events, and the expenses, buying a new property is likely the last thing on most people’s minds. People don’t want to leave the comfort of their home, just to pick up and move. Of course, depending on where you live, your winters may not be as cold, but typically, you will have less competition for the properties that are available. With fewer potential buyers out there, your offer is much more likely to be seen, considered, and accepted.
With less action happening in the real estate market transactions are able to be processed much more quickly. Everyone from the bank to the title company to the inspector will have less on their plate and more time to help you. There are fewer properties to be inspected, fewer closings to process, and fewer loans to put through the system. While Chicago Home Buyers can always close quickly, during the winter months the process becomes even faster! When you work with Chicago Home Buyers to buy your investment property, the process will be fast and efficient. You won’t have to wait around or worry about unexpected fees or costs.
Get A Deal
With motivated sellers and a lack of potential buyers, you are in a place to get yourself a very good deal. While you don’t want to take advantage of someone’s misfortune, working with a motivated seller can make it a great deal for both parties. Home sales drop off in the winter, forcing people to lower their asking prices. You will likely be able to pick up the same house for less during the winter then you could in the summer. Many investors do a majority of their purchases during the winter months because of this.
At Chicago Home Buyers, we work with investors and buyers to help them find the perfect property to add to their portfolio or to live in themselves. We find and source only the best available properties, doing all of the leg work for the buyers we work with. We will provide you with all the data you need to make a great decision when buying your investment property or forever home in Chicago! All you have to do is tell us what you are looking for, and we will make it happen! Get in touch with Chicago Home Buyers today to learn more!