Buying property in winter might not be everyone’s first choice, but for savvy buyers, it can be a strategic opportunity. With fewer people attending open homes and generally less competition overall, winter can offer unique advantages, especially when it comes to negotiating with real estate agents and securing a better deal.
Here are some key tips for navigating the winter market with confidence:
Use the Slower Market to Your Advantage
Winter is traditionally a quieter season for property sales in Australia. Many sellers who list at this time of year are motivated, whether due to financial pressures, relocation deadlines, or simply wanting to move before spring. This can create a window of opportunity for buyers to negotiate from a position of strength.
Tip: If a property has been on the market for a few weeks without selling, it could indicate that the seller is open to realistic offers. Don’t be afraid to negotiate on price or terms.
Ask the Right Questions
When speaking with Real Estate Agents, your goal is to gather insights that might help you understand the seller’s position. Questions like:
- “Why is the vendor selling?”
- “How long has the property been on the market?”
- “Have there been any offers so far?”
- “What kind of settlement terms would the vendor prefer?”
The answers to these types of questions can provide leverage in your negotiation and help you tailor your offer to appeal to the vendor beyond just price.
Don’t Let Weather Cloud Your Judgement
Winter weather can make even the best homes feel less appealing – dark rooms, muddy gardens, and gloomy skies can be off putting. But this can also work in your favour. Properties can present poorly in winter, especially if they’re vacant or not well staged. This can suppress competition and create an opening to negotiate a better price.
Tip: Focus on the fundamentals – location, floor plan, natural light, and potential, rather than how the property “feels” on a rainy day.
Negotiate on More Than Just Price
In a quieter market, vendors may be more flexible on settlement terms, deposit amounts, or even including certain fixtures and fittings. If you can accommodate their preferences, for example, a quick settlement, you may be able to negotiate a better overall deal, even if the sale price stays the same.
Work with a Mortgage Broker Early
Getting your finance pre approved before making offers gives you an edge when negotiating. Agents and vendors are more likely to take your offer seriously if they know your finance is in place.
At First Point Group, we help our clients prepare thoroughly before entering negotiations, ensuring they understand their borrowing power, loan options, and timing.
Final Thought
Buying in winter can be a strategic move if you know how to play it right. The key is to do your research, ask the right questions, and work with professionals who can guide you through the process. Hopefully with fewer buyers in the market, this could be your chance to secure a great property at a sharp price.
Need help navigating your property purchase?
Contact us at First Point Group for tailored advice, loan pre approval, and support every step of the way.
