While some people tend to need to buy a new house for more immediate reasons, there are those who can afford to take the time and do a bit more research as to their options. It could be you’re looking at East Vancouver real estate for investment, or you’re planning for a move sometime in the near future.
There are, of course, plenty of considerations to factor in before making the final purchase decision. Aside from location, budget, and property size, one of the foremost would be the timing. Inevitably, the season when you go out looking for real estate can affect the cost that you will have to shell out.
From the Market
One of the ways to determine if it’s a good time to buy a house is to look at the mortgage. This is particularly crucial if you want to stick to a strict budget. In case you’re not well-informed enough to determine whether you’re getting a good deal or not, you might as well seek the help of professional real estate agents. They can help give you the lowdown on what is the average mortgage rate in the market, and if the one you’re being offered is a good deal.
Remember, it’s not just going to be the mortgage that you will have to deal with. There are other upfront costs such as taxes, legal fees, moving fees, etcetera, and, not to mention, the ongoing costs and extras such as maintenance and repairs.
If you want a more scientific approach, however, you might want to consider buying homes during the winter months. Various research studies across North America has found that months like October, December, January, and February yield a lot of good selling choices in the market. This is because homeowners would prefer to offload their property at this time of the year so that they can be ready to move come spring or summer.
If you’re looking at East Vancouver homes for sale to find someplace you can stay in for the long-term, it could be a great idea to choose one over the winter, too. This way, you can already assess the comfort level that the property can offer you, no matter how harsh the weather or climate may become. It’s a lot easier to show off the good side of the property on a warm, sunny day, after all. If you want to make sure you’re getting the right choice, you’d want to see it hold up to the toughest of conditions.
To better help you make your property purchase decision, get well-founded advice from professional real estate agents like those from Real East Van.
New Research Reveals the Single Best Day of the Year to Buy a House. Business Insider.
When is the Best Time to Buy a House? MyMoneyCoach.