It's February And You Are Thinking of Buying a Home. 5 Reasons to Begin Your Home Search Now

-




It's cold outside!  Believe it or not, it is still a wonderful time to buy a home.

*Interest rates are still at near historic lows and the *inventory of homes is plentiful.  More homes will come on the market in the next two months as sellers who have been waiting to get past the holiday season are ready to offer their home for sale.  This trend will continue as we move towards Spring and the warmer Summer months.

*There are less buyers in the market now than there will be in the Spring, the traditionally most active time of the year.  So there is less competition for the home you may want.  You will have the opportunity to negotiate more aggressively with a Seller that is motivated now.

*Winter is an excellent time to check on the energy efficiency of homes.  Feel the areas around doors and windows to see if air flow is noticeable.  Does the home seem well constructed?    Look at the roof if there is snow to see if the snow is melting evenly.  An area that is melting much faster than others may indicate a lack of insulation.  Heat is escaping in that area.

*Homes are more completely tested during weather extremes.  An inspection on the home you choose will be even more beneficial in revealing areas that need improvement.  A clause can be written in your purchase agreement to allow you time to return to check the roof when weather permits.

*Interest rates are still at historic lows. A 30 year fixed rate is currently around 5.25% without adding points, or at 5% with 2 points.  The cost of a point is 1% of the loan amount.    By buying now, you may save significantly on your monthly payment.  Even an extra $200 savings of per month equals $2400/year and $72,000 over 30 years, the life of the loan.

Comments

  1. Nan @ Playful Decor5:53 PM

    Hi Diane, I found you through "On The Fence..." and will follow. Would love for you to visit my blog. I'm a former Realtor and have bought & sold several homes so I look forward to keeping up with you. Nan

    ReplyDelete
  2. Real Estate Manchester NH12:12 PM

    thats true, you can save money when you purchase earlier. There are less buyers in the market now than there will be in the Spring, that means there is more supply than demand.

    ReplyDelete
  3. Alison1:36 AM

    Thanks for sharing your experiences here on your blog.

    ReplyDelete

Post a Comment

Popular posts from this blog

Real Estate Abbreviations and Acronyms

-
Look at any home ad and you're bound to be confused by all the letters and abbreviations. To help you "speak" real estate, here are some of the more common abbreviations and acronyms and what they stand for: Home details: 2C-A—two-car attached garage 2C-D—two-car detached garage AC—acres ALARM-B—burglar alarm ALARM-F—fire alarm ALARM-S—smoke alarm Appl—appliances ASSG—assigned parking BSMT, B—basement BLDG SPEC—builder's spec home BONUS—bonus room BR—bedroom BRK—brick Bth, BA—bathroom CA—central air CLBPOOL—club pool Dk—deck FDR—formal dining room FP, frpl—fireplace Gar—garage Grmet Kit—gourmet kitchen HWF, HDW—hardwood floors IG pool—in-ground pool Ldscpd—landscaped LP—list price LR—living room MLS—multiple listing service OBO—or best offer SFD—single-family detached home WIC—walk-in closet YO—years old Transaction details: APR—annual percentage rate ARM—adjustable rate mortgage CC&R—covenants, conditions and restrictions CMA—comparative market analysis DAP—down ...
Read more

Bring Some Light to Your World--Exciting Lamp Giveaway!

-
Image
When it comes to lighting your home, it is important to use a combination of different lighting sources to create the right environment. Relying simply on overhead lighting can leave the lighting in your home either too dark or too harsh. Poor lighting can only take away from the aesthetic beauty of your home and it is vital that you strike the proper balance. By incorporating table lamps into your home décor, you can add a wonderful accent to any room which will help create that warming glow you need. In terms of lighting manufacturers there are 3 brands in particular that shine brighter than the rest. Uttermost is a family owned lighting company that has been a providing the world with beautifully handcrafted designer lighting and home décor since 1975. Their table lamps in particular are offered in a range of styles by top designers such as Carolyn Kinder, while still remaining an affordable lighting option for the common man. The Southwestern Xander Table Lamp in particular was d...
Read more

10 Ways To Winterize Your Home

-
Image
10 ways to winterize your home — now You’ll get a season’s worth of savings and peace of mind by taking a few steps in the fall to get your home ready for cold weather. By Christopher Solomon of MSN Real Estate So you’ve pulled your sweaters out of mothballs and found your mittens at the bottom of the coat closet. But what about your house — is it prepared for the cold months ahead? You’ll be a lot less comfortable in the coming months if you haven’t girded Home Sweet Home for Old Man Winter. With the help of several experts, we’ve boiled down your autumn to-do list to 10 easy tips: 1. Clean those gutters Once the leaves fall, remove them and other debris from your home’s gutters — by hand, by scraper or spatula, and finally by a good hose rinse — so that winter’s rain and melting snow can drain. Clogged drains can form ice dams, in which water backs up, freezes and causes water to seep into the house, the Insurance Information Institute says. As you’re hosing o...
Read more