Most people don't want to buy real estate in the dead of winter. There are many people who are going to buy "in the spring". This attitude makes May the busiest month in real estate. As a buyer you really want to avoid the time when everybody else wants to buy!
Consider buying in the winter!
Winter in the Vancouver area is dark and wet! If you like a home in the middle of dreary January, then it is almost guaranteed you will like that home even more in the pretty month of May.
Here are some advantages:
1. Home sellers in January are likely serious sellers. Many realtors advise their clients to sell in the brisk spring market to attract top dollar. Therefore, the sellers that insist on selling in winter are very serious sellers. Not only might they be more flexible on price but they might also be more flexible on other terms of the sale such as possession date or subject removal date.
2. There is a reduced chance of a buyer competing in a multiple offer situation during the slow months on the year.
3. Often prices rise in the spring.
4. The process of getting a full approval from a mortgage lender will be quicker in January when business is slower. This reduces a buyer's stress.
5. Your realtor might be less busy and be able spend more time with you.
One bit of advice about looking for a home in the wet and cold winter months: wear shoes or boots that easily slip on and off. It will make the process of viewing homes all the more enjoyable.
Your first step in the real estate process is to get pre-qualified for a mortgage. Even if you don't end up buying until the spring, a pre-qualification will have you good and ready for the competitive spring market. Give me a call and we can discuss the best rates for you.
