Most people think it’s best to buy in the summer or spring, but winter can be a “hot” time to get into the market. If you don’t mind a little bit of cold weather searching – this might be the best time for you to start looking for a new home!
Here are 6 benefits to consider on your house hunt:
- Professionals have more time to serve you.
During the busier months your real estate agent will probably have many clients to deal with, during the winter, their workload is usually lighter. Other professionals such as contractors and movers may less bookings and may be able to accommodate you better. They may be able to get tasks done quicker and work with your schedule.
- Interest rates tend to be lower.
There are many factors that influence interest rates in the Canadian landscape, but in the winter they are often lower. Speak with your mortgage consultant and do your research to see if you can secure a lower rate.
- You can find the deal of a lifetime.
The winter season can give you some of the best deals, the real estate market is a “supply and demand” type industry, so you have the opportunity to find better deals when less people are looking. The cards are stacked in your favour. Less competition means less dedicated house hunters, home sellers may be willing to negotiate the sale price and offer you more bang for your buck.
- Smaller selection of homes.
Depending on who you ask this can be a good thing or a bad thing but in this case, you can save yourself a lot of time. Instead of visiting 50 properties, you can visit less and really focus on which house is the best for you.
- You can find out how the house holds up in the winter months.
You’ll be able to check to make sure the heating and hot water systems are up to par. As well, you can see what type of winter gear you will need to keep your property safe during winter snowfall (will you need extra shovels? a snow blower?)
- This is a good time to see how your prospective neighbours keep their properties during the winter months — are the driveways and sidewalks shoveled? Does the city/town/municipality plow and salt your streets? These are all important aspects to consider when thinking about buying a home.
Even though the winter and holiday season can be busy, you might be able to find the best deals for your budget and your lifestyle. Talk to your real estate agent and see if winter buying might be in your future.