It is said that timing is a critical factor when it comes to purchasing a home. There are many ways to discover when that crucial moment is; either you spend hours in finding seminars, websites and real estate gurus to give you scoops on how you can land the best deal. Or you can choose to save yourself a lot of trouble by just taking a hike on the next street and finding the next house to buy in the neighborhood. Arm yourself with your property inspection tools and you may be able to spot a new home to buy.
Sure, walking in the middle of the snowing morning can be shirking, but many home buyers didn’t know that buying a home during winter is a secret opportunity in the housing industry. From November to January, inventory and prices sag and the real estate industry becomes sluggish. The reduced number of potential buyers and an increased number of realtors makes homes more open to concessions in winter.
If you are a home buyer with a flexible timeline when it comes to getting a home loan, searching for your house purchase this winter can help you get the best out of your every investment’s worth.
Why Winter?
“It’s absurd to buy a house in winter,” you may think. After all, is it even possible to have a home properly examined during the snow? A property inspector will have a hard time lugging around with his big toolbox just to get into the attic, basement, and around the corners of the home. Due to the cold, he may find it challenging to take note of every problem that needs to be addressed. How can anyone buy a home that is not properly assessed?
Chances are, back then, the answer is no. But because of the new property inspection software innovations like SnapInspect, home inspectors can now easily examine properties without the need for bulky tools. With just a flashlight, a pair of gloves, a screw driver and their smartphone, they can conveniently give you a fast, detailed property report without anything to miss. A property management inspection app makes examining a home easier for you and your property inspector, making winter home purchases more feasible.
Your Other Winter Perks
According to the National Association of Realtors, winter weather can make home shopping incredibly unappealing, making home inventory sliding down with 15%. Many homeowners think that their property appears better during spring and summer seasons. But a dip in the inventory and buyers equates into a longer downtime for mortgage companies and real estate agents. One of your perks is that when you buy a home during this season, you may enjoy a faster mortgage process and better loan terms.
You also get a different vantage point of a property. During in spring, you see the house with its lush gardens and beautiful sunlight. But when you take a tour during winter, you may be able to get a glimpse at how efficient the property’s plumbing and HVAC is, helping you discern if this house is really build to last. We’ll be talking about this topic in our next post.
Last Pointers in Your Winter Home Shopping
The online magazine TIME has discussed that the best month to bid on a house is January. A less number of buyers are willing to shop for homes during the nasty cold weather, which makes less competition for you. Sellers tend to be more motivated (they may have just received their credit card bills which reflects their holiday spending, making them financially insecure).
Winter is a good time to search for homes; just make sure that you have it properly inspected before you sign a mortgage contract. Make use of a property management inspection program so you can be certain you made the right decision!
