As counterintuitive as it sounds, yes, this is the time to do it.
Winter’s cold temperatures combined with the season’s influx of snow, sleet and freezing rain make it a great time to hibernate (Netflix and hot chocolate, anyone?), but it also happens to be the ideal time to move.
Yes, you read that correctly. As unappealing as it may sound to leave your cozy cocoon and brave the elements, it’s worth it if you’re in the market to relocate, whether you’re a renter or buying a home. But don’t just take our word for it — read on to find out why you should consider moving during the winter.
Real Estate Is Cheaper in the Winter
Looking to buy your dream home while sticking to a budget? Winter is the best time of year to score the property of your choice at a bargain price. This is largely because the season is not a popular time for people to move. As a result, sellers are far more motivated to reduce their prices and/or negotiate than in the summertime (when the weather is more agreeable and kids aren’t in school — aka when most people buy homes).
Another bonus: Because fewer buyers are scouring the housing market in the winter, there’s less competition, which means you’re less likely to get into a bidding war or lose out on a home you want. Simply put, winter is typically a buyer’s market, which almost always equates to saving money on a home purchase.
Renters trying to find their next abode are also in luck during the winter. Property managers are more likely to offer specials to get people into their available properties to reduce vacancies when people are often staying put. So, just like home buyers, renters face less competition in the wintertime.
You Can Probably Afford to Hire Movers
The worst part of moving is often…well…moving. Furniture is usually heavy, and the idea of moving all of your material possessions from one place to another can be downright exhausting — especially if you haven’t exactly embraced that whole minimalism thing. This is where movers come in.
Of course, hiring movers is another expense on top of everything else (after all, no one said moving was cheap). Still, moving companies typically offer their services at a discounted rate during winter because it’s their slow season. Plus, since the movers’ schedules aren’t packed, you have a good chance of choosing the date and time that best meets your wants and needs.
Start the New Year Off Right
If you’re someone who loves a fresh start, moving in December could be right up your alley. You’ll have a brand new canvas to decorate, which is the perfect excuse to upgrade your current housewares.
There are also possible tax benefits that come with moving before January 1st. For example, if you are eligible to write off your moving expenses on your taxes (this applies if you’re moving due to a change in your job or business location or if you’re moving because you’ve started an entirely new job or business), moving before the new year can allow you to take this deduction when you file rather than waiting.
In addition, first-time home buyers and current homeowners who purchased their property two years ago or longer and are buying a new principal residence are eligible for certain tax breaks – why not take advantage of them before the year ends if you’re planning to move in the near future anyway?