Purchasing a home is a big decision and some buyers are not sure when the right time to buy is. Some buyers are reluctant to purchase a home during the winter months, which is evident by the year after year slowing of the Real Estate market around the New Year. Some of these reasons may be:
- Tough to inspect certain aspects such as shingles, grading, air conditioning unit or even the quality of the landscaping.
- Market activity is slower so there are less homes to choose from.
- Less than ideal weather conditions to be viewing homes.
- Buyers do not want to move in cold weather.
While many of these points may be valid, there are plenty of advantages to purchase your home during the colder months:
- Lenders and lawyers are usually less busy because of the slower market, making your deal come together more quickly and seamlessly.
- Sellers may have fewer showings in the winter, which may mean their home will sit on the market for longer so they may be willing to accept a lower price than they would in the spring or summer.
- It is easier to inspect other aspects of the home such as proper attic insulation (if there are major icicles or much less snow on the roof of the house you’re looking at vs the surrounding neighbors, there may be a lack of insulation in the attic). You may be able to determine the homeowners maintenance habits by inspecting how the snow has or hasn’t been moved away from the foundation, etc. If you do see snow piled up against the foundation, that would be a good spot to look at on the interior basement to see if there is any sort of water damage.
- If the seller is not in a rush to move, it is easily possible to have an extended possession date so that the buyers and sellers do not have to move until spring. Just because you are shopping in January does not mean you cannot move in April!
- You can also see what condition the roads are in during the winter to see if parking in front of your new potential home may be a problem.
Homes sell at all times of the year. The right time to buy will be different for everyone; it is just important to know the advantages and disadvantages of the time of year that works best for you.
Remember, if you have a friend or family member that may be thinking of buying or selling in Saskatoon in the near future, I would love to speak with them and showcase what I can do for them! The highest compliment I can receive is a referral to your friends and family! Thank you for trusting me with one of the biggest investments you will make!