Are you thinking of purchasing property in 2018? Whether you’re looking to buy your very first home, upgrade to a new home or purchase an investment property, being prepared before the spring market hits can prove quite beneficial.
With the holiday season wrapped up and a new year underway, now’s a great time to start looking at properties ahead of the spring rush. There’s no doubt that spring and summer are the most popular times of year for purchases, but there are many perks associated with shopping in the off season.
There’s value in home shopping now
One of the main reasons to buy a property now is that there’s typically less competition than in warmer months. With fewer buyers in the market, homes don’t sell as quickly, and sellers are often more willing to negotiate on their asking price. They often need to move from the property in the near future, and you can use that to your advantage to get a favourable deal on a house that may otherwise be out of your price range during the peak selling seasons.
Lenders also usually have fewer mortgages to process and less paperwork to deal with in the off-season. With lenders less hassled, you can expect a smoother mortgage approval process, even with new mortgage changes now in effect.
Viewing properties during the winter also allows you to see things that you may not have noticed during warmer months. For instance, drafts may be a sign that windows need replacing or that there are air leaks that may need to be sealed. If the house feels warm without the thermostat being set too high, it may be an indication that the home has good insulation.
We can offer many more tips and tricks about buying in the off-season!
Regardless of when you decide to buy or sell, we’re here to discuss your options. Answers to your questions are just a call or email away.