Whether you’re looking to purchase a new home, or make renovations to an existing property, your first priority is probably securing a loan. If you’re serious about buying a new home and the price is right, why wait until spring when you can do it at the beginning of the year?
Buying in winter may be the ultimate test for a home, since the plumbing, roof and heating are under pressure to perform as temperatures plummet and snow falls. Sure, you’ll experience less curb appeal, but sorting the landscaping is a lot less expensive than purchasing a new furnace or roof. Everyone assumes that spring is the best time to buy or sell a home, so if you do begin the search in January, you can expect far less competition than those looking later in the year. Anyone purchasing a home in winter is buying with purpose, whether they’re expecting a newborn, need extra space for extended family moving in, or retirees eager to downsize and start the next chapter of their lives.
On the other hand, you may decide that it’s more cost effective to increase the footprint of your existing home, where you are close to amenities, it’s a short drive to the office, or the kids are in a great school. If you know you’re onto a good thing, and with further investment you’ll increase the value of your home, it’s definitely worth considering and discussing your options with your bank.
At Warren-Boynton State Bank, we offer several types of competitively priced loan products, which are structured to meet our clients’ individual needs. When it comes to loans, we offer residential one-to-four family, real estate construction, home equity, home improvement, auto, RV and boat, consolidation, and ready reserve overdraft protection.