Since the warmer months are the busy months when it comes to real estate in Canada, you might not think about starting the buying process in the dead of winter, but there are a few good reasons why you should, especially if you’re hoping for a good deal.
More room to negotiate the price. Since there is less competition from other buyers in the winter (since few people enjoy moving all their stuff in the cold weather), it gives you a golden opportunity to get a good deal on a home. In the summer, there is less room for negotiation, so you’ll have better luck with a lower offer when you are the only offer on the table.
Easier to close the deal fast. Sellers have a lot to lose the longer their home is on the market, so it’s in their best interest to accept an offer when they get it. Since the offers aren’t pouring in during the winter months, this leaves you at an advantage not only for a better price, but for a quicker transaction. If you’re looking to move fast, winter is a great time to make it happen.
Service fees are lower in the off season. Another benefit, since home inspectors, appraisers and moving companies are less busy in the winter months, they might offer you a better price on services. It might mean saving thousands on fees just because you decided to purchase during the off season. It’s a great time to ask around and get quotes—once providers know you’re price shopping they may come back offering a better deal to get your business.