Every day, people wake up and realize that it’s time for a change in their life. That is especially true when it comes to living accommodations. Whether they’re renters who are ready to get a taste of the freedom of owning their own place, a budding family in need of more space, or empty-nesters ready to downsize- all of these people have come to the conclusion that now is the time to begin their search.
Much talk is made in real estate of when the “best time” to buy is. Market conditions are constantly changing, as supply and demand rise and fall, interest rates change, and local developments drive up desirability in certain neighborhoods or even geographic regions. Even if you don’t plan on moving for a few months, it’s good to start understanding the current market, figuring out your budget, compiling your “Wish List, and deciding where you want to live. Even if you don’t find the ideal home right away, you’ll be gathering useful information that you can use later on.
As we enter the winter season, those who are ready to begin house shopping are in luck: winter is a fantastic time to buy! With many other potential buyers focused on the holidays, this can mean a decrease in competition. Sellers are often motivated to wrap up the selling process and may be willing to accept more favorable offers than they would in a more “hot” market. Before you grab your coat and head out to an open house, it’s important to remember that house shopping in November and December isn’t the same as shopping in June and July. Here are five factors you should closely consider while beginning your search.
- Winter Weather – Any search during this time of year is going to be influenced by seasonal weather conditions, be it regular chilly days or snowstorms. Aside from dressing appropriately for inspecting a property both inside and out, you’ll need to remember that winter weather can mean you miss key details of a property. If it’s cold out, you might feel rushed to quickly inspect the exterior of a home. Snow and ice can easily cover serious issues like a crumbling foundation, cracked driveway, or a damaged roof. Home inspections are always important, but extra care must be taken during the winter to ensure that the home is checked top-to-bottom in favorable weather conditions.
- Curb Appeal – While some shoppers love the look of a snowy yard, others will find the bare trees and dry lawn unappealing. Keep an open mind- winter conditions aren’t always fully representative of how a home will look in warmer months, once leaves and grass grow back.
- A Home for All Seasons – As you explore a home and its property, it’s important to remember how each feature will change along with the seasons. A big, open well-lit room may be a wonderful living space in winter but turn into a hard to cool room during the summer. A small pond or lake on the property may look lovely in the winter, but could be home to mosquitos later on. Don’t neglect to consider how you could modify these potential shortcomings.
- Check the Heat – When buying a home, the goal is to know ahead of time of any potential costly repairs. A malfunctioning heating system can be one the biggest expenses a new homeowner can face. While viewing the home, try to leave your coat at the door and see if the home is maintaining a comfortable temperature throughout. Check smaller rooms and closets too, as a well-insulated home with good airflow will keep these areas climate controlled even in the dead of winter. A lack of sufficient insulation will mean more expensive heating bills, and could even lead to moisture making its way into your home; or worst of all, burst plumbing pipes.
- Don’t be Afraid to Make an Offer- Even if you’re only beginning to search, it’s important to remember this important bit of advice: If you sleep on it, you may never sleep in it! If you see a home you love, don’t be afraid to take a leap of faith and make an offer. While there may be fewer buyers to compete with, there are also generally fewer homes available for sale. If you find one you really like, take the steps to start making it a reality! Have a plan in place with your agent to better understand what a timeline may look like after placing an offer.
While most are hunkered down from the winter cold, if a new home is something you are considering, there is now time like now to get started formulating a plan to get you where you want to live. Winter is a great opportunity to home shop, especially when you know what to look for. Make the most of the season and don’t let the weather keep you from achieving your real estate dreams.
