When Is The Best Time To Buy A Home?
Posted by Garman Group on
One of the questions we get asked here at The Garman Group is, “When is the best time to buy a home?” But is there really a “best” time to enter the housing market? Read on as we try to answer this loaded question for you.
Does Time Of Year Matter?
In some parts of the country, the weather can be an incredibly important factor in the buying and selling market. However, when it comes to Real Estate in Victoria, much like golf, it's a year-round sport. Our (mostly) mild winters allow a home to have pretty decent curb appeal and an enjoyable moving experience all the time.
Of course, like the rest of the country, Victoria Real Estate does see an upturn in listings in the spring. This is the time of year when people are able to fix up and renovate their homes in order to be ready to move over the spring and summer months.
It almost goes without saying that December is one of the slowest times in the Real Estate market. It's a busy month for most – not to mention it’s a month where finances are often being allocated elsewhere. January can be a bit slow as well because of the post-Christmas “crash” most of us go through plus it's a rather dreary time of year. This can work in a buyer’s favour, however – people who do list in the slower months are often eager to sell and you may have less competition from other buyers.
Summer tends to be a fairly stable time in the housing market. It can be slow as it's prime vacation time for most families, however, it can also be a prime time for families to list and move as to not cause a disruption in the school year.
What Are The Trends in Your City?
The Victoria Real Estate market has its ups and downs, like every other market, and while it’s been on an upswing for the past few years, it has recently cooled a bit. This is something to look at, but it depends a lot on the actual area and new construction trends in the immediate area. Have a conversation with your REALTOR® (like us at The Garman Group) about the up-to-date trends in the area you're looking to buying in.
When Do You Need/Want To Buy A Home?
You may only have time off in December so you can only take a good look at the housing market during this time. Or perhaps you're starting a job in a new neighbourhood in the fall so you'll need to buy a home and move there in the summer.
Entering the housing market is a stressful time already. Don't add more worry trying to find the “perfect” time to buy. When you and your family have a reason to or feel the need to move, that's the time you should start looking.
Have You Contacted The Garman Group?
All of us REALTORS® here at The Garman Group have plenty of experience with the housing market and Victoria Real Estate all year round. We're more than happy to answer any questions you may have and would love to be able to help you and your family find a home whenever you may need it. Contact us today!