Why more home sellers are listing in January
Given the uncertainty in the housing market right now, more sellers are opting to put their house on the market in January.
Following the holiday season, most sellers will wait until February to put their homes on the market. This year, however, it appears that sellers are opting to get started a month early. The change, likely due to uncertainty surrounding the real estate market, gives prospective buyers an opportunity to find their dream home in a less busy season. This article provides helpful hints for both sellers and buyers looking to get started in the winter months.
Winter, with all its snow and overcast days, can prevent a home from looking its best. If you are selling, step back and look at the property with a critical eye, and try to brighten the exterior with simple planters. It is highly recommended to remove Christmas lights and decorations from the house, as they may give prospective buyers the impression that the seller is not keeping up with the care of the property. It is a good idea to have photos available that showcase the property at its best, during summer and autumn, so buyers can see what's in store once the snow melts. If the property has a fireplace, ensure it is in good working order for any showings. The interior temperature should be comfortable and the lighting should be bright enough to compensate for overcast weather.
Buyers should be mindful of what they are unable to inspect in the winter - air conditioning systems and swimming pools, for example. Buyers should consider placing a warranty clause in the purchase and sale agreement that gives them until May 1st to inspect and have the seller responsible for any damages. Have a look at the snow around the property and on the roof. Snow that appears to be evaporating faster from the roof than from around the home could be a sign of poor insulation. It is always important to have a thorough inspection done on the property, and an environmental audit may also be a good idea. Ask your real estate agent for the amounts of the latest electric or gas bills to check for energy efficiency.
For more helpful hints regarding buying or selling in the winter, contact an Ottawa Mortgage Broker.