How Heavily Does Winter Really Impact Real Estate Holdings?
Winter weather means different things to different people. For some, it's a time of endless wonder and happy days spent sledding, building snowmen, or sitting curled up by the fire. For others, it's a difficult time of extra labor like shoveling their drive, and that comes with yearly costs like snow tires and lots of home maintenance. Winter has an effect on many markets as well, real estate chief among them. Not only does it become more challenging for real estate agents to sell properties during the cold months, when everyone is hunkering down in their existing homes, but the level of wear and tear on real estate holdings goes through the roof. A snow removal service has to be called in; leaks have to be boarded up, and heating systems need extra maintenance.
Winter weather has a severe impact on both the real estate market and any real estate that you already own. Let’s take a look at the areas of most significant impact and some ways to minimize that potential damage.
Seasonality in Real Estate
Seasonal patterns for real estate sellers are really clear and mostly consistent. Summer is always a far busier time of moving houses than winter is because, by the time winter rolls around, anyone who is in the market for buying a summer home elsewhere would already want to have one locked down and be moved in. No one is interested in the inconvenience of moving house in winter unless they have no other choice. This lack of market activity does mean that sellers are more often tempted to negotiate to sell a property that they might have had on the market for a long time.
If you’re looking for a good deal on real estate, the time you’re most likely to get one is in winter. If you’re looking to sell your home in winter, it might be difficult, but there are a few things that you can do to increase your chances of a sale. Offering a discount or simple terms on the sale might make a motivated buyer more inclined to tackle moving house in the dead of winter. If you have an open house, remember to stage the home to show off its best assets. A beautiful fireplace can be a real selling point in winter when everything's all frosted over outdoors. Plush rugs, soft throws on the couches, soft bedding, and plump squishy pillows on the bed will give the home a cozy feeling, and potential buyers will eat it up.
Though the garden will undoubtedly be primarily dormant, it's the first thing that potential buyers see walking up to your home; shovel and salt the walk, and make sure all the garden edges are neat and even, even if there are no plants to look at.
Handling Winter Wear and Tear on Your Real Estate Holdings
Weather causes far more damage to properties than you can imagine, mainly if the properties in question aren't regularly maintained or stand empty through the winter months with little or no maintenance or attention. Potential winter weather pitfalls could include
- Fallen trees or branches land on your roof or car during storms, and dead leaves clog up gutters and render them useless.
- Heavy snow sitting on your roof and causing structural damage as well as snow melting and getting into your roof and any wooden floors.
- Ice can cause structural issues like fractured foundations, which can cause leaks and mold growth in the long run.
- Extremely low temperatures cause freezing or blocked pipes.
Prevention, as they say, is better than cure. The best way to deal with issues caused by the cold weather is to stay on top of the problem. Shovel snow off your roof on a regular basis or hire a snow removal company if you need to. Clip any branches that might break off and cause damage if high winds come through your area. Hire a maintenance company for all the tasks that are too big for you to take on alone; your property will thank you for it come springtime! Branch or tree felling, as well as large-scale snow removal, are frequently too much for ordinary citizens to take on alone and are often very dangerous in the cold with snow and ice underfoot: we suggest that you leave it to the professionals.
Though winter can be a difficult time for homeowners, those selling homes, or those in the market to buy; there are ways to get around or over every hurdle if you just approach them with some forward-thinking and calm determination.