Moving during the winter can seem like a terrible idea because of the cold temperatures and cloudy days that last for weeks. However, there are actually some great reasons to consider moving to New York City during the winter.
Less Competition
One important factor in the real estate market, especially in New York, is consistency. The busiest time for rentals is the late spring season, which usually lasts from April to September. During these months, there is a high demand in the market. Many people who graduate late hope to rent apartments in May. Young professionals with summer internships or new jobs sign leases in June and July. And college students typically return for school in August and September.
Lower Rent Prices
Is it cheaper to move during the winter? Yes, generally speaking. During the winter season, condos tend to stay on the market for a longer period of time. This makes owners and management organizations lower their prices in order to attract tenants.
For example, in April or the late spring season, the rental costs for one room reach a maximum of $2,900, while the rental costs for two rooms reach a maximum of $3,500. During the winter season, the price for one room decreases to $2,750, and the price for two rooms decreases to $3,190.
Also Read: Steps to Safeguard Your Real Estate Investments in New York
Incentives
Landlords and management organizations often provide additional incentives to encourage tenants to move in the winter, due to lower lease costs. It is common for landlords to provide one to two months of free rent when signing a lease, delay or reduce application fees, offer a free year of amenities, or give out gift cards. There are no established rules or guidelines for motivating factors. It is important to be aware of them when looking for an apartment.
Power to Negotiate
Empty apartments during the off-season are a landlord’s worst nightmare. Property owners are willing to do anything to ensure tenancy, including negotiating the terms and conditions of the rent, because they lose money every day the condo stays empty. If you are a leaseholder, you have an advantage during the winter and it is definitely worth trying to negotiate a lower lease.
Scheduling
Making a move will not be necessary during the winter. You will have less competition when trying to hire a moving company or reserve an elevator in your new building. Additionally, once you have moved in, you can quickly make your home feel comfortable.
There are many benefits to moving in the winter, so it makes sense to do so. If you’re thinking about moving to New York or another city, take a look at some affordable apartments for rent.
