Winter has a reputation for being tough on the real estate market, with harsh conditions putting a damper on transactions and sparking maintenance needs. However, if you’re in the fix and flip business, there are some ways to make the most of this season.
Evaluating Homes in Winter
If you already own a property, winter is a great time to see how it handles rough weather. For instance, winter is an ideal period during which to identify HVAC and insulation issues so that you can deal with them appropriately. If the house has problems, you can correct them and present that information to potential buyers. And if the house is already in great shape for winter, then that is a selling point for your fix and flip property as well.
Buying and Selling in Winter
As Diane Schmidt argues at The Spruce, buying houses in winter can be quite a good move. Schmidt points out that in winter, there are fewer buyers to compete with, prices are lower, and sellers are often more motivated to make a deal. These factors combine to mean that you shouldn’t stop looking for fix and flip properties just because winter has arrived.
At the same time, an argument can also be made for selling in winter. The fact that there is less competition can play to your advantage if you have finished renovating a home and are ready to show it off to buyers. It will have less competition and an easier time standing out, especially if the renovations have done a good job enhancing the home.
Renovating in Winter
Winter is also an ideal window to pursue repairs and renovations by working with contractors, who often face a decline in work volume during colder months. Contractors tend to be most busy during the spring and summer, but in winter, they will likely have more time to review and take on projects. They may even offer discounts to attract business.
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