The best season for buying property in Kelowna

Sticky Post Posted on May 6, 2015 by in Real Estate

While the housing market in Kelowna is excellent and deciding to move here is always a good idea, there are seasons better than others for buying property. By choosing to hunt for houses three months later or earlier than you had planned might end up saving a significant a lot of of money, not to mention less stress and frustration.

Just think of it this way: you find the perfect home, and you envision the beautiful life you are going to have there. When you are on the verge of buying, you find out there’s another buyer willing to offer more money than you. And so you get caught up in a bidding war in which, regardless of the outcome, you lose. You either don’t afford to outbid the other buyer, and your perfect home becomes their home or you outbid them, buy the house, but end up spending a lot more on it that you had initially planned. And all this could have been avoided if you had just known when to make the offer.

“When” is the most important question

private-house 12We all know that people are more willing to make changes in their lives during spring. Maybe it’s the rebirth of nature, the sense of change or merely the effect of sunny days, but people tend to take on new projects and make significant changes in their lives during spring. But this may not be the best time to buy a house, after all.

Even though the real estate market is booming in the spring, you may want to wait a little or start looking for homes before spring. Yes, you will have many options at your disposal in the spring, but you will also encounter many buyers. The chances of not getting into a bidding war in spring are close to none. Now if you were a seller, then you should definitely sell your house in spring when you have the highest chances of getting the best deal.

But you are a buyer, and so you should start house hunting when almost nobody does: in the winter. And because Kelowna enjoys milder winters than the rest of Canada, house hunting in winter becomes doable. The best month to start looking for a home in Kelowna and even make an offer is January. You’ll find the lots for sale kelowna when buyers are not ready to start building.

Firstly, you have the advantage of being among the few people to buy homes in January. This means that you will have no competition, and so you will not have to pay more than you planned on the house. Secondly, January comes right after December, the most expensive month of the year. People are usually broke in January, and so a seller may be willing to even let down the price of a property. And last, but not least, if a seller has decided to put their house on the market in January instead of waiting for the spring to get a better deal, it means that they are in a hurry to sell. It also means that you can negotiate a lower price and be successful.

The time of the year when you decide to buy a house in Kelowna is crucial. Almost as important as the agent you work with. With the right agent and knowledge, your house hunting mission will be successful and, before you know it, you may find the perfect home in Kelowna for you and your family.