Winter Buyer Tips
Many people think real estate slows down during winter months. People are busy with the holidays or don’t want to move during the holidays – right? Not necessarily. Winter can be a great time to buy a home!
Stereotypical winter home-buying assumptions can cost you. Keep in mind these 6 common mistakes—otherwise you might just lose out on your dream home.
1. Beware of Holiday Debt
Don’t rack up new debt buying lots of gifts. Even if you have good credit, running up credit card debt can negatively impact your scores and possibly change your debt to income rations.
2. Failing to Use Your Imagination
The property looks a bit drab under gray skies, icy walkways and bare branches. But don’t eliminate a home because of winter blahs – imagine what the home might look like come spring when flowers are blooming and the grass is green.
3. Ignoring Possible Closing Delays
Don’t assume everything will go as planned. While many contractors work throughout the winter, there are certain things that cannot be done during heavy snowfall or dramatically low temperatures. Build in some buffer time for your closing as even a little snow could put the freeze on your move-in day schedule.
4. Lacking Flexibility
House hunting requires a certain level of spontaneity – you have to be ready to act quickly when a home comes on the market that matches your criteria, even if he weather is working against you. Flexibility is even more crucial during wintertime as weather can cause unexpected delays.
5. Assuming You’ll Get a Sweet Deal
Inventory is low and buyer demand is strong. Unfortunately, the math doesn’t necessarily work in your favor. Don’t think sellers are more negotiable just because of the holiday season or cold temps.
6. Making a Low-ball Offer
Don’t think winter sellers are desperate. A low-ball offer can insult and anger a seller, so much so that they either won’t even counter your offer, or they will counter high.
Let’s work together to create a competitive offer that isn’t offensive. Nothing is worse than losing the home you love to another buyer because you thought you could get a good deal.