THE ULTIMATE GUIDE FOR WINTER HOME BUYING — Get that dream house despite the cold!
Are you prepared to BUY YOUR FIRST HOME or level up to your dream house but are just caught up till winter blows over? For most homebuyers excited to move in before the year starts, a lot of scouting around for that perfect house during the winter gets set back a couple more months.
However, would waiting for the buds to blossom and swimming pools to warm up, hinder you from the sweet discovery of a new home you absolutely adore at a price that is equally fantastic?
Well, it could.
Although celebrations could still be held during the holidays, the extremely cold weather and slippery sidewalks could keep the less eager house hunters glued to their living rooms with a good cup of hot coffee. But, factors such as the weather should not hold you back from finding your dream home.
Although granted that there are a lot more houses to choose from in the market during the warmer seasons, one often finds themselves in competition with a whole lot of other more aggressive buyers as well. Offers to buy a house would rarely get accepted at lower prices in such cases. The decided homebuyer would have better chances than to go for winter house hunting.
So, the question now is, are there actually advantages to buying a house in winter? In this article, we will be discussing why house hunting in the winter just might be the best thing you can do!
BENEFITS OF BUYING A HOUSE IN WINTER
There are quite a few places where it is warm and sunny almost all the time, where potential home buyers do not have to battle freezing temperatures in their search for a new home. But if you are in an area where the sun hibernates for a longer time and the snow piles up for days, the real estate market usually hibernates during this particular season also.
It may not be the most ideal time to scout for homes in the winter, but waiting around may lead to an opportunity loss.
Buying a home is a major investment one can make. Stalling your search will make you lose out on a great deal, and it is something that you do not want to happen.
Here are five reasons why shopping for homes in the winter may be a great idea:
1. It is Cheaper.
This may not always be the case with every deal you get with every home, but there will be those that will try to sell their property at the lowest listing during these months. When selling at an off-peak market value, some homeowners tend to match them with aggressive pricing. This will in turn enable your bank account to grow or even make you be able to afford a home you normally could not.
2. Fewer competitors.
A lot of people avoid home searching in the winter because they find it inconvenient to transfer homes or burden the children with the sudden change during this time. There will be definitely less competition in terms of people that will be interested and you will be having more time to choose and negotiate at ease. This will lead to great stress reduction and will lead to huge savings in the end.
3. Practical check-ups.
Falling in love with a house in the summer is easy! The light enters the place perfectly and your imagination can run wild with all the fun and romantic things you can do. But what of heating? How the house accommodates ice and frost? These are important things to consider in purchasing a home since you would want to be warm and comfy when it’s bitter cold outside. Actually, seeing and feeling the house during the winter is the perfect test for weather endurance.
4. Service
Since real estate agents will have lesser customers in the winter, they can and be willing to cater to you anytime you need them. In the same manner, financial institutions such as banks and lending companies, lawyers, inspectors, and surveyors will have decreased real estate clients to work with during winter time too. In effect, you will get to close your buy quicker, which is an advantage in several states.
5. Enjoy lower rates on your move.
Finding good movers during the summer or spring is almost impossible due to the demand, and because it is the peak season for moving, the movers charge you the top price for it. But in the winter, movers have fewer clients. Less demand means discounted prices.
As illustrated, your area and the available houses it offers in the market will have an influence on whether there are definite advantages to purchasing a home in the winter months. So, it is always best to be more open.
DRAWBACKS OF BUYING IN WINTER
There are always two sides to a coin. Advantages will always be confronted with disadvantages. To come up with the best decision, we should always look at both sides. Let’s take a look at the drawbacks of buying a house in winter:
1. Limited choices. As a lot of people delay listing their home until springtime, your dream home may be more difficult to find. If you do not wish to adjust or compromise, then waiting until peak season might be best, so you will have more options.
2. Challenges in-home assessment. You might be able to check for the winter stability of the house, but all the rest, like the garden, swimming pool, and landscape will have to be a surprise until spring.
3. Difficult weather conditions. You could get lucky and pick out a beautiful winter day to move, but the odds of getting a bad one are also pretty high. As if moving alone is not stressful enough, adding a blizzard will certainly turn things up several notches!
4. Hard for kids. Moving before the end of the school year is always hard for children. It means saying goodbye to routine, old friends, classmates, and teachers, and having to adjust and reacquaint themselves in a brand-new environment with strangers.
GETTING A GOOD DEAL ON A HOME IN WINTER
Do not let the opportunity pass you when looking for your dream house. Lesser people searching for homes do not mean there are no interested parties. You may not be the only one knowing of great deals you can get in buying a house in the winter.
Once you come across a house that fits the criteria you are looking for, do not hesitate to move on it no matter how heavy the snowfall may be.
Check out this list of tips when trying to negotiate for good deals that apply during the year:
1. Get the paperwork done. Check if you have the suitable requirements needed to apply for a housing loan. By then you will get to know how much or at what price range of the property you will be able to afford. A prequalification letter that you can get from a lending institution is something that will help when you make offers to sellers. This can even give you an edge at times when there are several buyers going over a particular property of choice.
2. Be clear on what you want. Determine what is essential for you and what holds more importance. Will it mean that you have to be situated near a school? Will you be needing your own workspace? Knowing what you need and what you want is important. Having this on the onset will help ensure you make a decision that you will not regret in the future.
3. Do not constrain yourself to a fixed value. Determine ahead what the most you can afford for a property that you want and perhaps a value you think you can get away with. Winter will not guarantee to give away prices so be prepared to negotiate and try to get the best deal you can get without going overboard.
4. Unless you have contracting skills in construction do not attempt to underestimate repair cost when browsing around during winter. DIY usually tends to save you a lot of dollars if you know how, if not, consider that if you used professional help to fix things on the properties you see you can subtract this from the asking price of the seller during negotiation.
5. Look into getting a home warranty. If there are amenities in the home that you may not be able to inspect thoroughly because of the weather conditions, try keeping in mind to ask for a home warranty so that it will cover these issues. Consider the use of an experienced real estate agent and legal advisor before signing anything.
IS PURCHASING A HOUSE IN WINTER A SMART MOVE?
Finding the proper timing in finding a new home is really not that different from all the other investments. You win some, you lose some. What matters is your readiness to do it. And once you have determined that you are ready, don’t let excuses stop you from going out and getting it! Not even the weather!
If you are financially qualified, zero in on what you want and need on a home, list them down. You can find that shopping for houses in the winter is actually not as bad as you thought, you may even be surprised.
Lastly, know that the home buying process is exactly what it is – a process – which means it can’t be rushed. This also means that if you close a deal during winter, you might be able to move into your new home by spring and be fully settled in by summer. Isn’t that better than waiting until the next year?
Some custom-built houses are already for sale, you can get in contact with Green Villas by filling out the form or by calling the number available here. For further information, you can also check their portfolio and see their past projects that include custom-built houses and commercial buildings!
Now, if you’re in the Saskatchewan region, you can book a free consultation and visit their Saskatoon office at the following address: 215-2750 Faithfull Ave, Saskatoon, SK S7K 6M6.