Why December is the Perfect Time to Buy a Home!

Contrary to popular belief, December is actually a great time to buy if you’re motivated. Sometimes a cooler, calmer market presents a great opportunity to buy. Here are a few reasons why December is, in our opinion, one of the best times to shop for a new home!

There’s Less Competition.

As December is, historically, one of the slowest months for real estate sales in Toronto, people don’t tend to shop around as much this time of year. (Ok, and let’s face it, usually we’re pretty tied up with Holiday shopping and tying up year end deals at work.) However, if you can make some time to look around, you’ll find that, while there are less homes on the market in comparison to the hot spring market, there are also less people buying. The Toronto spring market has become notorious for its extreme bidding wars, awarding sellers hundreds of thousands of dollars over their listing prices. Less competition means you likely won’t get caught up in an outrageous bidding war. It’s become an extremely competitive market, so if you can find something in the cooler months, why not? Buying in December might even mean that the buyer will accept your offer price. What a concept!

Sellers Are More Serious.

Most people who aren’t in a rush to sell will wait for the hot spring market to list, often even just to test the market and see if they can get an inflated price for their home. Sellers with homes listed in the cooler months like December and January are usually more motivated to sell, especially if their hope is to have their property sold before the end of the tax year (December 31). If you’re willing to close quickly, you will likely find a great deal, and perhaps even be moved in by the Holidays if you so desire!

You’ll Have Your Agent’s Undivided Attention.

A slower market means less busy agents. While we real estate agents pride ourselves on our ability to multi-task, (you’ve got to be able to, in this industry!) it’s inevitable that, when there’s more time and focus, there’s more attention to detail. Take advantage of your agent’s expertise and undivided attention during the cooler market, and you’re guaranteed to find a great home and get your best deal possible.

Looking to purchase a home this month? Our team of experienced realtors and legal representatives are ready and waiting to close your deal quickly! Give us a call today at 416.443.9000 and let’s get started.

One Team. One Goal. One Commission.

For more information, contact us at info@realawstate.com!

 

 

 

By |2019-02-28T11:25:36-04:00December 6th, 2017|All Posts, Professional Advice|0 Comments

About the Author:

Graham F. Alloway founded the firm Alloway & Associates in 1990 and carries on practice in the areas of banking and finance, bankruptcy and insolvency, corporate restructuring, creditors’ rights, and charities law. His clients include Canadian and foreign corporations, governments and private individuals. In addition to the practice of law, Graham has and continues to serve on up to ten corporate and charitable boards, some of which have been successfully merged or sold. He has been part of a management team for a commercial beef operation running in excess of six hundred head of cattle and is involved in small land development projects, both residential and commercial. Graham’s personal corporate interests lie in the generation of electric power, for which he has participated in the development of two hydro electric sites in northern Ontario, as officer, director and investor in all corporations. Further, he has participated in the management and investment in partnerships drilling for oil and gas in the United States.