Should You Buy a Haunted House?
October 7, 2019 | Posted by: Ron Chan
With Halloween fast approaching we figured it’s a perfect time to answer another interesting question that a few prospective home buyers have - should you buy a haunted house? Yep, people actually go online and pose this question (go ahead, watch it auto-complete on Google) and why not? After all, in every city there are a number of single detached houses that have become attached to paranormal tales over the years. Some of the historic properties are very attractive, well-constructed, and located in prime communities. Should they be discounted from consideration due to what is likely nothing more than hearsay? Let’s find out…if you dare.
5 Reasons Why Getting a Mortgage on a Haunted House May Actually Be a Good Idea
Rock Bottom Prices for Otherwise Desirable Homes
This is the biggest and most obvious benefit. When rumors swirl about supernatural phenomena within a house the market value falls accordingly. Even better, is that a typical haunted house is a historic build with expansive yard space, many rooms, and good bones, and we don’t mean the ones buried under the basement (sorry, couldn’t resist). The houses are also commonly located in long-upstanding communities. For many, this is the only financially viable means to buying into a prime property, pesky haunting aside.
Buyer Competition is Scarce
You’re considering buying a haunted house so you’re not averse to a little risk when the potential reward is big. But most people are afraid, which reduces buyer competition. That means you will have a better shot at having a lower asking price accepted. You may even be able to scare up seller concessions such closing costs, loan processing fees, attorney's fees, transfer taxes, title insurance costs, inspection fees, and more. Heck, the seller may even be willing to part with antique furnishings on the property. Sofas can’t be haunted too, can they?
You’ll Be the Star Attraction Every October
Whether you believe the property is haunted or not is beside the point. Others will still consider it so. That means your newly purchased (at a steal!) home will be one of the city’s star attractions throughout October, each and every year. You may as well embrace this fact and go the extra mile when it comes to decorating for Halloween curb appeal. Invite local media to swing by and don’t hold back on the tall tales, detailing unexplained noises from the basement and late night sightings in dim lit hallways. You can capitalize on the theme even further by putting the “haunted house” up on Airbnb, VRBO and other short-term-rental service sites as adventurous locals and visitors alike pay a premium for the chance to stay in a haunted house during the season.
Cold and Hots Spots Can Help Reduce Utility Expenditure
One of the symptoms of a haunted house is the presence of persistently cold and hot spots in certain rooms. For some this is a bane but we suggest that you embrace this trait as a means to reduce seasonal heating and cooling expenses. On cold autumn/winter days you can find solace in the room/s with unexplained but appreciated hot spots. Then on hot summer days/nights the room/s with cold spots can offer a cool oasis. By optimizing occupant experience accordingly you can reduce your heating and cooling expenditure. Who knew haunting could be so good for your HVAC goals?
Other Savvy Buyers Are Doing It
We told you in the introduction - you’re not the only one considering buying what’s deemed to be a haunted house. Forbes reports that 33% of buyers are open to the concept, with the number growing when low prices (as mentioned above) marry great square footage and a desirable community. Of course, you may have already lived in a haunted house in the past without realizing it as studies find that only 34% of sellers woulddisclose a haunting to interested buyers, while another 27% would only tell them if directly asked. If you’re truly considering investing in a haunted house you can find additional peace of mind in knowing that you’re not alone…even when you think you are.
Ready to talk about getting a mortgage on a “spirited” house in the greater Winnipeg area? As the city’s premier mortgage specialist Ron Chan will not only get you the best rates, he can connect you to the trusted local Realtors, agents, home insurers, decorators, and if need be…paranormal investigators. Contact Ron today at 204.290.9950.