Reasons to Buy a Home in the Winter

A recent blog post by Genworth Canada listed a few reasons why buying a home in the winter might be the right decision for you!

The reasons are listed below:

Your real estate agent’s full attention

Winter is traditionally a slow time in the real estate game. Less people are buying, less are selling. The cold just slows people down, no one takes on anything too ambitious during the winter months. So your agent will be super attentive and devote more time to you and your homeownership dreams!

Lower prices

The industry slows down, so resale prices drop a little. Take advantage of this and check out a few homes that may usually be out of your price range.

Fewer competitors

If you’re not buying new, you can find yourself in a bidding war. It’s happened numerous times this year in Toronto. Homes have been selling for thousands over the asking price just because two or more potential buyers were interested. Avoid this issue and home hunt during the off season.

Motivated sellers

Winter sellers are looking for a quick deal. Sellers who aren’t in a rush often take down their listing during the winter months because of the lack of buyers. Moving in the winter isn’t the most fun, but it might be worth it to make a good deal!

Lower interest rates

Banks also respond to the winter months by having lower interest rates. Buy a home in the winter and end up with significantly lower monthly mortgage payments!

Thanks Genworth Canada for the great tips!