Four Things You Need to Know About Buying a Home This Winter
December 5, 2017
Buying in the winter never feel ideal, unless you living in a place that is warm all year-around. Not only does the snow and ice make it difficult to go home-hunting, it can also hide some of the charming features of a home. If you are in a crunch and need to buy a home within the next few months, here are something you need to know about the market right now.
Inventory is Low, But First-Time Buyers Have Options
Overall, inventory in the U.S. is low right now, especially as we creep into the winter months. Home inventory is now at a post-recession low, down 9.1 percent nationally in the third quarter compared to a year ago, according to Trulia. But, if you’re a first-time homebuyer – you may be in luck. Inventory for starter homes has actually increased by 7 percent in the past three months. This means that you will most likely get a better price if you’re looking at less-expensive homes.
No Bidding War Worries
The upside to buying in the winter, is that there’s less competition. Buying in the winter means you may be able to be a bit more specific with your stipulations as you will most likely be the only bid on the table.
Sellers Make Deals
Winter is a good time to negotiate. If a seller is going through the effort of listing a home in the winter, they are more than likely ready to move the home. This gives you some leverage when you place your offer.
Home Inspections May Not Catch it All
It’s important to be careful during home inspections in the winter, as there are some important parts that may not be able to be carefully reviewed. Things like trees, can look dormant but could actually be dead. You can hire an arborist to take a look and make sure you won’t be hit with a large tree removal bill. Roofs are also something that could be hidden by snow or ice – be sure to ask your inspector if they can tell the roofs age. If it’s quite old, you may want to add a contingency to your offer.
We hope you find what you’re looking for this winter and get a good deal while you’re at it. When you’re ready to make that next move, we hope we will be considered to help you move your things to your new home. We offer free, no-obligation in-home estimates that fit your schedule. Contact us today and plan ahead.
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