There’s a lot of real estate movement during the spring and summer months, but that seems to make people think that those are the only times you should go house hunting. Nothing could be further from the truth.
Ultimately, the best time to buy a home is when you have your finances in order and you’re ready for a change of scenery, but there are plenty of great reasons to buy a home in the winter.
Leisurely Shopping Experience
Perhaps the best reason to go shopping in the winter is that you’re able to have a more leisurely shopping experience. In the summer months when everyone is shopping, the show homes can feel crowded. You may feel like you can’t take your time to really look at the details in the bathroom, the pantry, or the walk-in closet because others are waiting for their turn to take a look. It’s hard to get some time with the New Home Sales Consultant to have all of your questions answered because there are others in line.
In the winter months, though, you might have the whole show home to yourself. You can do things like wait downstairs while your partner walks upstairs to see if there’s noise. You can make a list of questions, then be certain that the New Home Sales Consultant will be able to take the time to answer all of them. It’s just an all-around nicer shopping experience.
You’ll also find that there are some great deals to be had during the winter months. Since sales start to slow down after the summer rush, builders sometimes try to keep the momentum going with promotions or discounts. This typically comes in the form of free upgrades, and you can usually choose which upgrades you want. It’s a good deal if you already had some ideas for upgrades in mind.
Other times, the deals are designated. For instance, the builder might include something specific like landscaping for buyers during the winter months.
If they’re offering something that you were going to buy anyways, a winter purchase can save you thousands of dollars.
The New Build Timeline
Another thing you may want to think about is the timeline for building new homes. The reason most people are shopping for homes in the spring and summer months is that they want to be moved in and settled before the school year starts. When you’re building a home, though, it can take between 9 and 12 months for your home to be ready. If you put in a purchase order for a new build home in the spring, this might mean that you’d be moving into it around March of the following year. That’s not exactly the best time to be listing your old home.
On the other hand, if you buy your home in the winter, you may be able to have it ready for you by the summer, especially if you choose a quick possession home that’s already been started. Talk to a New Home Sales Consultant about the best time for you to buy a home depending on your timeframe.
Faster Turnaround on Quick Possession Homes
If you’re looking for a home that’s move-in ready, quick possession homes are the right choice for you. And if you’re buying a quick possession home in the winter, there’s a good chance that the entire process can go quicker than it would if you purchased in the summer. That’s because the mortgage companies and lawyers are backed up with work during those busy months. When they have a lighter workload, they can move through your paperwork quickly. You may also find discounted prices, because builders are motivated to move their inventory in the slower months.
You Know What You're Getting
When buying a home in Canada, one of the most important practical things to think about is how the home will hold up during the winter months. This is less of a concern with new homes, but you can still rest easy once you've taken a tour during the winter and you know for certain there are no draughts or other surprises coming once the cold sets in. You'll also be able to get a sense of how easy the community and surrounding area is to navigate once there's some snow on the ground.
Better Deals on Services
Buying in the winter could mean that you’ll be moving in during the winter, whether you’re purchasing a quick possession home are starting a new build from the ground up. Again, because these months tend to be slower for the real estate market, they also tend to be slower months for all the people who provide related services, such as home inspectors and moving companies. It will be easier to schedule a time for the service you need, and you may be able to get a better price on it.
Yes, more people try to sell their homes during the spring or summer, but winter is still a great time to buy. Whether you’re looking for a better deal or a smoother process, the time is now.