Should You Buy a Metro DC Home Before Winter?

The temperatures are dropping here in Metro DC and we all know where we’re headed— yes, the cold season is nearly here!

Winter brings many great things to the Washington DC area, but an ideal moving scenario is not one of them. And while you can indeed buy a home during the winter season, it’s important to note that the process can take longer than usual.

If you’re on the fence about buying a home in Bethesda, Chevy Chase, Washington DC, or Northern Virginia, now is the time to get started. The Estridge Group has decades of real estate experience to help you find your dream home before winter and enjoy the upcoming holiday season in your new surroundings.

Metro DC homebuyers should be sure to take the following into consideration in their decision to buy before winter:

Mortgage Rates

We’re still seeing record lows for mortgage rates, with most sitting well below four percent. If you missed buying a home at a low rate in the past, don’t wait any longer! Mortgage rates are projected to increase and could be up as much as a full percentage point by the end of next year.

The Process

In past blog posts, we’ve discussed the mortgage process and how you can better prepare yourself to buy. However, during the holiday season, the entire process tends to slow down. With all of the paperwork necessary, the lender and your timing, it can take much longer for everything to come together than it would be if you purchased a home now.

Home Prices

Home prices, like mortgage rates, are on the rise! In fact, one of the reasons many home sellers are now ready to move is due to these higher prices. Waiting to buy a home in Bethesda, Chevy Chase, Washington DC, or Northern Virginia could mean edging yourself out of a great deal.

There is no time like the present to purchase a home, whether you’re moving up, moving down or simply moving to a new area. The Estridge Group is happy to help you every step of the way to ensure you’re in a new home before the winter season arrives.

Contact us today!