If you’re like many investors, you know that you need to strike while the iron is hot – but is it sometimes wiser to wait until winter to flip a house? This guide explains why it may be in your best interest to do so.
Should You Wait Until Winter to Flip a House?
Conventional wisdom says that the real estate market heats up during summer – more people are buying and selling at that time. There are more homes available, and it’s more convenient for people to purchase and move during the warmer (and out-of-school) months. But does that really mean that winter is the best time to dive in with both feet?
Sellers Are Different During Winter
If you wait until winter, the sellers on the market are generally more willing to part with their properties – or they’re being forced to due to job relocation or another reason – and there are fewer buyers to compete with you for them.
Related: 4 smart ways to enhance a small house
Finding Contractors May Be Easier During Winter
Even better, if you begin a rehab project in winter, you may be able to find more affordable help from contractors who are less-busy during the colder months. It’s a great time to begin building your team of contractors you trust, too, because you can take the time to vet people properly and gauge their work; you won’t be crammed in between a million other projects that they’re fielding.
Related: Can an easement affect your property rights?
Winter is Time to Work and Spring is Time to Sell
A project you begin in winter, even if it takes several months to complete, should be done by late spring or early summer. That positions you to be ready to sell when buyers start flooding the market.
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