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Should You Buy the "Less Than Perfect" Home?

When you’re shopping for a new home, you want to find a property that has all the features and characteristics you want. A large deck surrounded by picturesque landscaping ... a beautiful kitchen with gleaming marble countertops... a cozy finished basement with fireplace....
You should look for the ideal home. You deserve it! But some home buyers make the mistake of becoming fixated on finding the "perfect" property, and passing too quickly on those homes that don't quite measure up.
Why is that a mistake? Because some of those less-than-perfect properties have the potential of becoming your next dream home.
First of all, a home that is lacking some desirable features, such as a finished basement, will probably cost less. Those savings may be more than enough to cover any needed upgrade or renovation.
Secondly, if you look at a home in terms of its potential, rather than the features it happens to have now, there will be more properties available on the market for you to consider.
If you're determined to have a large wrap-around deck for entertaining, for example, don't cross homes that don't have this feature off your list. At least not yet. Instead, view these properties with an eye on potential. Is the backyard big enough to accommodate a large deck? How would a deck like that look if added to this particular property? How much would such a renovation cost?
There's no doubt about it. You want to find a home that has all the features and characteristics you want. If you work with a good REALTOR®, there is a good chance you'll find a property that has most of them.
But keep an open mind. Sometimes a "diamond in the rough" can – with an upgrade or renovation – become a home you'll treasure for years.

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The 5 Advantages of Buying a Home During Winter

It's a cool time to buy a Brampton home, as there are a number of advantages to buying a home during winter. 

Despite the common misconception that spring and summer are the ideal times to buy a home in Canada there are 5 tangible and strategic advantages to buying a home during the winter season:

 

1. Historical Savings
   According to the Canadian Real Estate Association (CREA), home prices, historically, are at their lowest in winter months. “Typically, winter is not a popular time to sell or buy homes, but it could be a smart decision,” says Romana King of Canadian financial magazine MoneySense. “Historically, homes sell for less in December/January than at any other time of the year.”

   In fact during the winter months in Canada home prices are generally 1% to 6% lower than in the summer months, which translates into a savings of between $3,500 to $20,000 for the average Canadian homebuyer spending $350,000 on a home.
   

2. Decreased Competition
   It is an all-too-common misconception that spring and summer are the best times to buy homes in Canada—use this in your favour. Less people shop for homes in winter, which translates into more motivated sellers and fewer competitive-bidding situations.

   Competitive-bidding situations drive prices higher than even the summer-selling season can. Use the lack of competition in the winter to avoid expensive competitive situations.
   

3. Realtor Face-to-Face Time
   As demonstrated above the real estate business is at its slowest in winter, and this means you have a larger percentage of your realtors time. You'll have more face-to-face time, and you'll have more of their time and expertise dedicated and working towards leveraging the time of year into a great home at an affordable price.

   An attentive agent creates a happy buyer.
   

4. Determine Energy Efficiency
   Winter provides a unique opportunity to determine the energy efficiency in potential homes. Check the roof for uneven snow, which can be a sign of insufficient insulation or air leaks. Ask for the latest electric and gas bills and you will be able to easily determine the energy efficiency of a home. During cold Canadian winters and humid summers this will save you thousands of dollars in future energy bills and expensive renovation repairs like new windows/doors and improved insulation.

 

If you're wondering whether this winter is the opportune time to buy a Brampton home—Call me today at 905.456.1000 ext. 3426. 

 

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