Is the Winter a Good Time to Buy or Sell?

When one looks outside on this dull January day, one might feel that winter is a poor time to be buying or selling a home.  Think again, winter can be the best time of the year not only to market your home but for buying one as well.

Real estate can be hotter than the weather outside, especially this year, with the shortage of inventory.  There is less competition in the marketplace because most people wait until spring and summer to list their homes.  In the winter home buyers and sellers are generally more motivated to make a transaction come together to everyone's satisfaction.

In the spring and summer we see many more families in the marketplace seeking larger homes and wanting to be settled before the new school year begins.  In the winter we see empty nesters downsizing after deciding they don't want to clear the snow for another year.

It is not uncommon for me to have fewer homes to market in the winter months, allowing me additional time to market your home.  With fewer clients to  manage in the winter, I am able to offer a specialized approach to your home buying and selling needs.

Another bright spot is the fact that interest rates are currently low but there are indications that this could change from mid-year onwards.  Now is a good time to get mortgage financing set in place at attractive rates for the next four to five years, as facing rate increases in the short term can put unwanted pressure on your household budget. 

Yet another incentive is the Harmonized Sales Tax that is on the horizon.  The HST comes into effect mid-year and will mean an increase in home closing costs after June 30th.

If you are considering selling or buying a home, now might just be the perfect time to give me a call.