Brampton's slower-paced winter housing home-buying hunt has more to offer than most can see. It just takes adopting somewhat of a skewed state of mind.
Even in a community with as much to offer as Brampton, winter isn't typically the "ideal" time to buy or sell a property. If they had their choices, most buyers or sellers – especially those with families – would rather not endure the busywork and stress of moving in unpredictable weather amid holiday-season stress and midway into most school years. Usually, homes are on the market and buyers are actively looking out of some timely sense of urgency.
That's no reason to be entirely down on the experience. The balance of bargaining leverage can shift dramatically between later September and March, creating several usually unexpected perks along the way. Take our word for it and keep a few optimistic truths about winter home-buying in mind to make the most of what can be an imperfect situation.
Brampton's winter home market is a somewhat curious thing.
Numbers of both sellers and actively searching buyers take a hit when the mercury starts falling. However the ball lands largely within the buyer's court. Numbers alone favor neither, but buyers won't feel as rushed by knowledge of a field of fellow house hunters scrutinizing the same property. Meanwhile, they know that a seller who isn't taking a break through the holidays doesn't have the luxury of time.
Just as importantly, this often makes sellers more open to negotiating discounts if it means closing a sale with quickly and with minimal haggling.
Here's a big difference between Brampton's wintertime buyers and sellers.
Buyers incur little cost browsing throughout the winter months. If anything, it's just the time investment of looking at properties and perhaps even writing offers. On the other hand, the longer the time sellers keep their homes on the market, the more hits the reasonable asking price endures.
Homes known to have spent a long time on the market without selling or with a history of deals that fell through carry with them a hard-to-offset stigma. The impression becomes one that there must be something critically flawed about the package of the property, the sellers and/or the agent that's destined to break deals. After a time, lowering the price significantly becomes the only way to improve the chances it moves off the market. This is all to say nothing of many sellers' desires to sell their homes by certain dates for tax purposes.
EXPRESS MORTGAGE APPROVAL
Know who else will often make some concessions to drum up business during this slow season? Many Brampton lenders.
Fewer buyers shopping around means fewer mortgages. Time your search just right, and it's like being the first person in line on a given day to get a driver's license. When lenders aren't as busy with high volume, they tend to process applications and standard credit checks more quickly.
It's also an even better time than usual to shop around. Cast a wide net, and you never know how many lenders you may gather who are willing to reduce or eliminate fees to drum up volume.
Smart sellers keeping their homes on the market this time of year will adjust their prices accordingly. The more reasonable the asking price looks right off the bat, the more buyers a home is bound to attract. What's more, wintertime sellers are typically looking for as little negotiation as possible, but could still be talked down by the right buyer with the right offer if it means closing the deal.
Bottom line: winter is nobody's ideal time to move, but if circumstances demand it, there's every reason to move strategically to capture what could be an exceptional deal.