Is Buying a Home in Winter Cheaper?
Published on 29 August 2022, 07:22:56 AM
Does the thought of buying a home in winter make you shiver? Here’s something to warm you up. The advantages of buying a home in winter can far outstrip waiting for spring.
No one wants to move when it’s cold and blustery outside. Buying a home in winter may not even have crossed your mind. Maybe you’re worried about home prices. Are houses even more expensive in the winter?
The truth is houses are not more expensive in the winter and, in fact, it can be cheaper to buy a house in winter. Home sellers who’ve been on the market a long time — or need a quick sale to relocate — can be motivated to reduce their price when winter winds start howling.
Secret Advantages of Buying a Home in Winter
Picture this. Your competition stays home, toasting their feet by the fire. You pound the pavement and come out on top.
Sound enticing? Winter is the cheapest season to buy a house if saving money is a priority. Here are four tactics you should know about when you’re house hunting.
Incentives for first time home buyers (Ontario).
Looking On the MLS When You’re Buying a Home in Winter
Chances are unsold gems are lurking on the MLS, just waiting to be toured. Pull on your woollen scarf and ask your realtor for a list of homes in desirable areas that have been on the market 90 days or more.
By now, home sellers can be anxious for a sale. You swoop in with a lowball offer and voila!, it could be yours. Even if you have to counteroffer, you just might get a better deal than the list price.
Buying a new home from a builder in Ontario.
Quizzing Your Realtor About the Sellers’ Motivations
Who lists a home in winter when they could wait for more lucrative spring markets to arrive?
Relocating families, cash-strapped debtors, and home flippers with way too much inventory, that’s who. And that means buying a home in winter doesn’t have to be that hard.
Are you buying chattels vs fixtures? Telling the difference.
Find a realtor who lives or works in the neighbourhoods you’re interested in. They’re more likely to know when new inventory comes on the market because they spend more time driving around the area.
For Sale by Owner Deals
Bonus! You’ve found a FSBO (for sale by owner) property. That makes buying a home in winter even easier.
Watch for “homes for sale” ads in daily or weekly papers and on social media. They’re most likely from sellers who’ve decided to skip the commission by being their own sales agent. When you see a Purple Bricks or FSBORealty.ca sign go up, walk their way.
Consumer advice for Ontario first time home buyers.
FSBO sellers have fewer expenses, but less opportunity to stand out in a crowded real estate field. When MLS agents aren’t calling daily for home tours, any offer can be welcome.
Water Cooler Windfall
What better place to look when you’re buying a home in winter than the water cooler at work?
Virtually or otherwise, put your colleagues and non-Facebook friends to work by hanging out in the coffee room. You could find home buying bargains by canvassing home owners who could be reluctant to show their home in winter.
How a home inspection clause (Ontario buyers) protects you.
Why You Need a Real Estate Lawyer
Axess Law protects your financial and legal interests any time you buy (or sell) a home or land in Ontario.
We review your agreement of purchase and sale for terms, conditions, or clauses that restrict your buyer’s right to cancel. Subject-to financing conditions give you the time you need to arrange favourable mortgage financing.
Making a property title transfer (Ontario).
Never waive a home inspection, whether you know the seller or not. Axess Law adds vital home inspection clauses that preserve your right to hire a licensed professional to check for defects that could affect the price or seriously degrade possibly your biggest investment yet. Who to include on your home buying team.
We hold your real estate deposit in trust until your transaction is done and liaise with your lender to discharge mortgages you owe, or arrange new financing for your latest home purchase. Stop construction liens from delaying a home purchase.
Coldest places to live in Canada.
Axess Law has real estate lawyers in Ontario (virtually wherever you are), Greater Toronto Area, or Ottawa. We’re here when you need us, 7 days a week.
Affordable Flat Rate Fees for Any Budget
Access lawyers for less in Greater Toronto Area, Ottawa, or anywhere in Ontario when you buy, sell, or transfer property. Axess Law’s flat fee real estate lawyers are affordable, and our rates are all inclusive (excluding taxes, disbursements, and third-party charges). Axess Law offers you only the legal services you absolutely need. Your final invoice includes no surprises or hidden charges. Your itemized statement of adjustments is explained when we deliver it, and we answer any questions you have about it. You get the new keys to your home or lock box in weeks, without breaking the bank.
What are flat rate legal services anyway?
Access Lawyers to Buy a Home in Winter
Axess Law has real estate lawyers near you anytime you decide to buy. Our Greater Toronto Area and Ottawa locations are open 7 days a week, at your convenience.
Book your appointment online or call our 647-479-0118 lawyer line (toll free to 1-877-402-4207) for times that suit your schedule. You can park onsite or take the transit — we’re near major transit stops.
You don’t have to leave home if you don’t want to. Axess Law has virtual real estate lawyers who can video conference in real time anywhere in Ontario. Your personal information is secure and confidential with us. We email or courier legal documents you need to complete a real estate sales transaction, or you can drop by any office to sign.
Who qualifies for refunds for land transfer taxes.
