Insight for a Successful Home Purchase This Winter

Posted on: 30 November 2022

The weather is getting colder with snow and ice in some parts of the country, but the need to buy a home is still an important one in many households. Winter does not have to prevent you from buying a home due to fewer daylight hours, bad weather, or freezing temperatures. Here are some tips to help you through the process of purchasing a home this winter.

Get Your Financing in Order

Unless you have the cash available for an all-cash sale, financing is a really important part of buying your next home. Financing is one of the first things you should consider before you embark on the real estate market with your agent. In fact, when you work with a real estate agent, they will recommend that you talk with a mortgage lender first before they can help you out in the search. 

Winter can be a slower time for real estate sales, so you will likely find less competition for a mortgage lender's time during this part of the process. Find a local mortgage lender or talk to your bank's mortgage department to apply for a home loan. This will also give you an opportunity to shop around to find the right financing that fits your budget and credit. Without a loan pre-approval, you will not know how much home you can afford to finance and also if you can fully afford to finance the entire home purchase. Keep in mind some mortgages will require you to have a certain minimum down payment for the loan. 

Arrange a Home Inspection

With your mortgage approval in hand, you can start looking at homes in your preferred area with the help of your real estate agent. Your local realtor will arrange for a walk-through of any homes you are interested in viewing. Then, when you find the one you want to make your own, be sure you include a home inspection clause as part of the home purchase contract, which your realtor can help you arrange.

When you write up the purchase contract with your realtor, let the seller know you want to hire a professional inspection on the property to make sure there are no major problems with the home. A home inspection is a recommendation in the winter because, for example, the roof may be covered in snow and you can't see if the shingles are in good condition, and it may also be difficult to check if the air conditioner is working. Your professional inspector will be able to evaluate these areas despite any freeze in the weather.

Reach out to a home buyer realtor agent to learn more.