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Although spring and summer are usually the busiest time of year for realtors, people who are looking into buying a home can sometimes find a good deal if they are savvy and constantly looking.
After you have spoken to banks in Philadelphia, you can get a good idea of what kind of a residential mortgage you might be able to qualify for. After you have been pre-approved, you can start searching for homes.
If you are thinking about buying a home in the next six months, you have some advantages you should definitely try. For one, the season is slower like we said, so a motivated seller may be more likely to accept your offer. Take a chance and offer a lower amount to see if the seller will bite.
Additionally, because the season is a little slower, we would encourage you to be very exact in what you should look for in a home. If, for example, a home is okay, but doesn’t check every box, you don’t need to settle. Remember, you are going to have a residential mortgage for the next 15-30 years. You should get the home that you want.
However, just because the season is slower, there are some things you should keep in mind. Understand, first and foremost, that closing may take a little longer as you will have to allow for potential inclement weather that could delay the inspection or a meeting. Second, you should ask for pictures of the home during other parts of the year to see what the home looks like.
Finally, have your inspector check the home very carefully for leaks. The winter months do give you the opportunity to see what the house is like during the worst of weather. If you can, get receipts and building permits from the seller to confirm his claims on when the roof was replaced, water heater fixed, etc. By doing these things, you can close on a home and be ready for spring.
