Are you looking to buy a new home this winter? Winter can be a great time to buy, but there are some things of which you should be aware.
Don’t make these 3 mistakes!
- Excess holiday spending
- Making too low of an offer
- Forgetting that many houses may look bad in the winter
Excess holiday spending
It is easy to spend, spend, spend during the holiday season. We go from being Halloween customers, buying candy & decorations, to preparing a big Thanksgiving feast, to spending more money than usual buying gifts for those we love. All of these things are great, but if you are trying to buy a home there are some things you should know. Your credit score is greatly affected by your debt to income ratio. When banks pull your credit score, they will see all the balances on your credit cards and that will come into play when approving your loan. The best thing you can do during this time is to make cash purchases. This way, you aren’t tempted to overspend and you won’t have any credit debt showing up on your credit report. Even if you pay your credit cards off every month, paying cash will save you a headache later.
Making too low of an offer
Even if you think that making a low offer won’t hurt anything, it might. Lowballing your offer may offend the seller altogether and they may not take another offer from you. Winter is a great time to buy, but don’t let the season and the cold weather conditions go into your decision-making process. Talk with your experienced agent about what the best offer is.
Forgetting that many houses may look bad in the winter
We get it, “bad” may be too harsh of a word, but houses do look a little livelier in the spring and summer with the sun shining and flowers blooming. It’s hard to get a feel for the true look of the house when it is covered in snow. You may also miss some of the house’s character with the white blanket of snow surrounding it. Try to use your imagination when it comes to picking out your future home, because it may end up shining a little differently as the season changes.
If you have questions about home buying or selling, be sure to contact one of our expert agents today.