Winter Home-buying Mistakes to Avoid
Posted: October 23, 2018 by Alan Tucker
The winter is typically a quieter time in the real estate market, but there are still some, perhaps yourself included, that are looking to buy a home during these colder months! While there are certainly some advantages of buying a home during the winter, there are a few common mistakes that you’ll want to avoid to ensure that your buying process is as smooth as possible! Whether it’s keeping an eye on your holiday debt, expecting weather-related delays, or expecting a great deal, these are all things to consider when looking to buy during the winter!
Keep an Eye on your Holiday Debt
The holidays, in general, are a time of celebration and gift-giving—which in turn means they’re a time of great expenditure as well. That said, buying too many gifts and accumulating debt can throw off your pre-approval, and that’s certainly a roadblock that you don’t want to encounter when attempting to buy a new home! That said, careful planning and budgeting for the cost of gifts ahead of time is the best way to ensure that you don’t end up overspending on gifts and leaving yourself out to dry when it’s time to close on a home!
Don’t be Surprised by Delays
When you’re closing on a new home you certainly want the process to go as quickly and smoothly as possible, but often times there are various challenges that can delay the process. In the winter, these challenges can be magnified by the potential ice, snow, and cold, and you should be prepared for various weather-related delays. For example, an inspection on the home you’ve just bought may reveal that a section of buried piping might need to be replaced, and yet the ground may be too hard for the digging to take place. As such, there are some repairs and processes that take much longer or are sometimes impossible during heavy snowfall or bitter cold.
This isn’t to say that something will go wrong with your new home, it’s just to prepare in case you find yourself waiting on a particular project or process that can’t be completed until the weather changes for the better!
Not Every Home will be a Steal
Often times the homes that are on the market in the winter are left over from the summer and fall markets, and thus the owners may have lowered the price of the home or are willing to do so. However, this does not mean that every home your look to buy in the winter will be a great deal—after all, many homes are listed in the winter because it’s the most convenient time for the owner to sell! As such, if you find a home that’s exactly what you’re looking for but feel that it’s not as sweet of a deal as it could be, you shouldn’t hesitate to put in an offer. Constantly looking for the best deal and passing on quality homes can prolong your search process and even end up costing you the perfect home.
In all, the winter is a unique time to be buying a home and, while there are certainly advantages to house hunting in the winter, there are also a number of mistakes you’ll want to avoid! However, if you keep these tips in mind then
you’re in a sound position to have a successful home-buying process!