Buying a home in a New Hampshire winter

Is winter a good time to buy a home in New Hampshire?

It can be. Fewer buyers tend to shop in the cold months, which can mean less competition and more time to decide, though there are usually fewer homes for sale too. Sellers who list in winter are often motivated by a job move or a deadline. The loan process itself doesn't change with the season, so a pre-approval still comes first.

What can snow hide during a home inspection?

Snow and ice can cover the roof, the grading around the foundation, decks, walkways and the driveway. Ask your inspector to list anything they couldn't see or test, and talk with your agent about wording in the contract that lets you look again or negotiate if a problem shows up later. A well or septic that's hard to reach under snow can need extra planning; see the well and septic guide.

What should I check on the heating system?

Winter is the best time to see a heating system working. Ask how old the boiler or furnace is, when it was last serviced, and what fuel it uses. Ask the seller for a year of fuel or electric bills, and look for ice dams along the roof edge and drafts around windows. Heating cost belongs in your monthly budget; the NH home heating guide walks through oil, propane, gas and heat pumps.

Does snow affect the appraisal?

The appraiser values the home as it is on the day of the visit and notes anything they couldn't see. Snow usually doesn't change the value by itself, but a condition the appraiser flags, like a damaged roof or a missing handrail, may need to be fixed before closing. If the value comes in short, see what to do about a low appraisal.

What if repairs can't be done until spring?

Outdoor work like exterior painting, a driveway or some roof and grading repairs may have to wait for warmer weather. Some loans can still close with an escrow holdback: money is set aside at closing and paid out when the work is done and checked.

• Conventional loans. Fannie Mae lets the lender decide whether to escrow for minor items and deferred maintenance that don't affect the home's safety, soundness or structure.
• New construction. Fannie Mae allows postponed improvements with an escrow of 120% of the estimated cost, finished within 180 days of closing.
• FHA, VA and USDA loans have their own repair escrow rules and deadlines, and each lender sets its own limits too.

Holdbacks aren't guaranteed, and safety items usually have to be fixed before closing. If you see a repair coming, get a contractor's written estimate early and tell Tom, so he can find a lender whose rules fit before your financing deadline.

How do year-end property tax bills affect a winter closing?

Many New Hampshire towns bill property taxes twice a year, and the second bill often comes due late in the year. At closing, taxes are split between buyer and seller by date, and your escrow accountEscrow account An account your loan servicer uses to collect and pay your property taxes and homeowners insurance as part of your monthly payment. See the full glossary× is funded for upcoming bills. The tax bills and escrow guide explains how it works, and the property tax calculator shows the cost for any town.

Anything else for a winter closing and move?

• Schedule your final walk-through in daylight and check that the heat is on and the pipes are fine.
• Line up snow removal, and get your heating fuel delivery set up in your name before you move in.
• Set up homeowners insurance early; some insurers ask about the heating system and roof age.
• Holiday weeks can slow appraisers, town offices and closing schedules, so leave a little extra time.

The closing timeline planner lays out your key dates.