WHY YOU SHOULD BUY A HOUSE THIS WINTER
Category General
There are some very compelling reasons to buy your home during the winter months, and more specifically this winter.
With the mercury dropping to minus temperatures in many parts of the country, one can understand that any reasonable person would much rather cosy-up in front of the fireplace than to run around looking at property to buy. But, whether you brace yourself to do physical viewings or look at virtual property tours online, now is a good time to buy.
Interest rates are at an all-time low (and a further drop in rates is expected quite soon), and it is, therefore, easier to qualify for a higher home loan amount, coupled with the fact that house prices are dropping as more sellers are becoming really urgent to sell due to financial stress. These are all tell-tale signs that the time to get your foot in the property market is Now.
One can gauge the motivation of a Buyer and a Seller at this time of the year. If there is no urgency, why not hibernate and wait for the sunny weather? Great deals are made in winter because you have a willing and eager buyer and a motivated seller. Most sellers that put their property on the market in winter, do so because they have to, not because they want to. A change in life circumstances often prompts a seller to sell, although the market is not in his favour - all to the benefit of the buyer who is willing to brave the inclement weather.
When the grass is yellow, or even covered in snow or frost, the house looks less attractive and the rooms look dull and unappealing. As a buyer, you must overlook these aspects and visualise the garden in full colour and the sun streaming through the windows. Now is a good time to feel how cold the rooms can get, and to check the insulation and window orientation. You might notice if water is seeping through the ceilings and damp creeping up the walls - things that will not be so evident in summer.
It takes approximately 3 months from signing the agreement of sale to the time that the property is finally registered in your name. Buying now means that you can move into your new home in spring, just in time to plant colourful flowers that will bloom in summer; ready to enjoy your December holidays at home with your family and friends. If you are buying a beach house for investment purposes you can plan events in such a manner that you will be able to generate an income from holiday rentals.
So, if you're looking to lock down your next dream home - or simply invest in a new property - the winter can be a prime time to do so. Put on your coat, brave the cold, and go house hunting!
Author: Adrie Barnard
