The decision to buy a house is a personal one and depends on many factors such as your financial situation, housing market, and personal preferences.

In Minnesota, the real estate market can slow down during the winter months, which may result in fewer homes on the market and less competition from other buyers. This could potentially lead to lower prices and more negotiating power. Let’s go over some pros and cons of buying in a winter market:

PROS:

1. Motivated Sellers. Anybody in Minnesota that is selling their home during the winter months is highly motivated. It’s easier to move in the spring and summer months so that’s when most people choose to move, so usually, there's a reason why they need to sell in the winter. There's a good opportunity to get some price reductions and to negotiate some pretty good deals in the Minnesota winters.

2. Reduced competition. Again, it's cold in winter and we don't see as many people wanting to move during those winter months. There are not as many active home buyers, so you’re not competing against a lot of buyers. 

3. More attention. Now this is kind of a weird one, but you may get increased attention from your real estate agent. Our goal as agents is to make you feel like you’re our only client, in both summer and winter months. But if you decide to work with another agent, you may feel as if they have more time for you since it’s a slower time for them. 

4. Spot issues. Winter is hard on us and our houses in the winter. Ice dams are common and can really damage your house if not taken care of. When the ice melts and freezes it can get under the shingles and cause leaks. You’ll only be able to spot this issue in the winters when we’ve had snow. It also tells you that the house needs more insulation. Another issue that the winter can help show us is if the grading around the house isn’t sufficient. If the slope isn't great and things did melt for a bit, we could see pockets of ice sitting around the foundation of the home. 

5. Really, the number 1 reason to buy in the winter. You can get a great deal on a home! If you take a look at the chart below you can see how our market fluctuates throughout the year. Prices jump up in June, July, and August and they bottom out in February

So now let's get into talking about some of the reasons to NOT buy in the winter months.

1. Reduced inventory. As we talked about earlier in this video, there are a lot fewer sellers that put their homes on the market in the winter because they know it means a lower sale price and there are fewer buyers in the market. That means that rather than 50 homes that fit your criteria, there are 15 homes that do. 

2. Unseen issues. While we mentioned that the winter can show us some issues with the house, it can also hide them. We can get a lot of snow in Minnesota. That means some years you’ll have snow covering the roof meaning you won’t be able to actually see the condition of the roof and shingles. We have inspectors that will fly a drone and try to find a spot that doesn’t have snow on it BUT that’s not necessarily good. A spot that doesn’t have snow on it means that there isn’t proper insulation below that portion of the roof. Winter also means they can’t inspect the air conditioning unit simply because cold weather means it will blow cold air no matter what. Snow piled around the sides of the house means we might miss cracks in the foundation. It’s not the most common problem but it can happen.

3. Curb appeal. Since pretty much everything dies off in the winter here you’re not going to be able to get a good picture of what the yard looks like. Whether the grass is in good condition, how the shrubs are doing, or if the garden beds are mulched.

4. The weather. And finally, the last con of buying a home in a Minnesota winter is simply the weather. It's tough to move when it is snowing, when it’s cold, and when it is icy outside. Everything just takes a bit longer to do and it’s just a little bit more dangerous carrying those boxes into the house when everything's covered in ice.

It's important to consider these factors and weigh them against your specific circumstances and goals. Make sure the time is right for you to buy by speaking with a lender and then deciding when the time is right for you.

It is always recommended to work with a real estate team that has local market expertise, as well as a home inspector, to ensure that you make an informed decision. When you’re ready to talk, reach out!