If youre looking for warm weather and beaches to get away from it all during the winter on an annual basis it might be worth considering buying a winter home. Having said that, there are some common mistakes that people make when house hunting. By far the biggest one is rushing headlong into da deal without doing a lot of groundwork. Its likely that you are doing your initial views of houses online since theyre out of your area, and that leaves a whole lot to the imagination. NEVER, EVER, buy a house if you, or a representative you hire, can get up close and personal with the site. Remember that once youve entered into a contract, it becomes very difficult to be released.
2. A second error made withr winter homes is investing too much money in it. Look at your budget seriously, remembering that youre only going to use this residence part time. It doesnt have to be expansive or fancy, just functional and comfortable. Make sure you stay within your financial limits, or youll find that dream winter house rapidly becomes a nightmare.
3. Along the same lines some folks set their expectations too high when they're buying a winter home. They turn down house after house, even those that come very close to their expectations. Remember that you can always tweak a home. Dont let a great bargain slip through your fingers thinking that eventually youll find the absolute, 100 percent ideal winter housing.
4. Tied to points 2 & 3 its not a good idea to buy after just one look at a house. Theres a lot more to a winter home besides how it appears. Whats the neighborhood like? Will your home be safe when youre away? What type of resale values do houses historically have nearby? All of these are important questions particularly if you feel you may sell in the future.
5. Fifth do not buy without a home inspection This protects you from what could be very expensive, but invisible problems in the home. Some things inspectors find are hazardous to your health too! Generally an inspection wont cost more than $500 and it could easily save you thousands (not to mention an over-sized headache).
6. Making an offer without conditions. Again because youre doing a lot of this long distance, you need to protect yourself. If you make an offer on your dreamy home make sure its contingent on a clean inspection, and the bank approving the house for a mortgage.
7. If its not in writing it isnt real. You cannot depend on oral agreements, and you need to understand the language of anything you sign completely. That means being provided with all mortgage documents ahead of the closing date for a good read-through by your lawyer.
If you follow these guidelines, youll find that the experience of buyiing a winter home goes forward with much less stress and frustration. After all, you want your home to be a place where you can kick back, sunbathe and unwind not something filled with bad memories before you move in.