Winter Home Buying Tips

The peak home buying and selling season tends to be in the summer and spring. This time of the year generally boasts nicer weather and is less busy for both buyers and sellers since there are no major holidays to contend with. However, this doesn’t mean that you shouldn’t shop around for a new home in the winter. In fact, because the winter is an off season, it could actually be beneficial. You won’t have as much competition and sellers may be more anxious to sell, which means they could be more willing to negotiate. If you plan on buying a home in the winter, then keep the following tips in mind:

Pay attention to the home’s heating capabilities

The winter is the perfect time to find out how a home holds up to the cold weather. Does the heating system seem to be working well? Are there cold spots in the home? Do you feel drafts near the windows? These issues can not only make the home less comfortable, but could result in higher heating bills.

Find out why the owner is selling

Because the peak selling time is generally in the summer and spring, find out why the owner is selling in the winter. There’s a good chance that they have to sell quickly, whether it’s because they need the money or they are relocating for a new job. Knowing why they are selling could benefit you when it comes to negotiating the price.

Ask for a home warranty

It can be a little more challenging to get a thorough inspection done on a home during the winter. To protect yourself from investing in a house that has costly problems that the inspection failed to uncover, ask the owner for a home warranty. A home warranty will cost between $300 and $500 and will cover the HVAC system, electrical system, plumbing system and some appliances.

Get pre-approved for a mortgage

Like many other people, odds are that you are keeping relatively busy during the winter with the holidays. The last thing you want to do is waste your time, which means you won’t want to look at homes that it turns out you can’t afford. Make sure that you get pre-approved for a mortgage before you begin looking. This way, you’ll know exactly how much you can afford and you won’t waste your time looking at homes that are outside of your price range.

Having a mortgage pre-approval also shows sellers that you are serious in your intent and that you are ready to commit, which can help give you a leg up on any other buyers that may be interested.

Negotiate with your lender

Sellers aren’t the only ones willing to negotiate. Lenders may be more willing to reduce your closing costs because of the fact that it’s a slow time of the year.

Be sure to keep these winter home buying tips in mind and contact Alex Echeandia with Eagle Creek Mortgage for more information about home mortgages today.

 

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