When confronted with numerous plans and tasks, you should set your priorities. Break large tasks down into smaller ones and be realistic about what you can accomplish in your allocated time frame. Setting realistic expectations and goals can help preserve and build your credibility and reliability, not only with yourself but with others. 

What better way to begin the new year? Setting goals and achieving them! Moving into a new home’s no different.

To begin, determine what you want and what you’ll need when it comes to home buying. Spring and summer are the most popular seasons to buy a home. However, if it’s your first time or you’re just looking for a good deal, then the start of the year’s the right time! 

Reasons Why You Should Buy a Home at the Beginning of the Year

1.     More affordable homes

Buying a home in the new year will allow you to make the most of the aggressively priced houses on the market. According to the recent study of ATTOM Data Solutions, property database curator and property data provider, the best days of the year to buy a home are in December and January. They’ve studied over 27 million single-family home and condo sales for the past seven years and found out that the hottest days for home-buyers are in the winter. In particular, January 26 and December 4 are the best days to buy a home, with the lowest median sale prices!

2.     More room for negotiation

Homes listed on the market are typically those that have already been listed from last year for an average of around 90 days. Since it’s only the start of the year, there are generally fewer buyers in the market causing sellers to be more flexible with negotiations and more eager to close a deal.

3.     Mortgage rates will only go up

Lower mortgage rates encourage more buyers. Considering the current economic situation, high unemployment rate and second wave of infection underway, the Bank of Canada has already committed to keeping the rates low. Remember, however, that although the rates are low today, they’ll go nowhere but up in the future. So, with the generally lower monthly payment now, you’ll most likely be able to afford the home of your dreams

Indeed, one of the things 2020 has taught us is that change is just around the corner. We know how mortgage rates are sensitive to changes and will most likely fluctuate. In order to shock-proof your chances of buying a home, find a mortgage broker and plan out your strategies early on. It’s always best to be prepared!

The start of the year is always the most predictable part. While prices are low and buyers still have the upper-hand in negotiations, January’s definitely an ideal time for home buying.

A few things to look for…

As a savvy buyer who’s now considering buying a home at the start of the year, you better get your ducks in a row early on. Plan well and cautiously before making your purchase. Here are a few things to look for if you’re planning to buy a home in the new year.

Save even during the holidays

If you’re planning to buy a home in the new year, prepare and plan to save! Try skipping out on the holiday season splurging and reallocating funds towards your down payment instead. 

Failing to plan ahead and not making room for delays

Since you’re trying to catch a seasonal deal for home-buying, you might need to start early with your leg-work, so that you can be the early bird and the first-in-line for sweet deals. Don’t forget to consider buffer time as there are definitely possible delays.

Take the next step and get your mortgage pre-approved. This’ll not only inform you how much you can borrow and what interest rate you can lock-in; this’ll also give you a stronger offer for when you do find your dream home. 

Next steps

Once you’ve decided to buy in the new year, start off by doing your homework. Start by planning and working towards your new year’s goal – buying your new home. It’s important to note that the housing market changes per season as much as it differs from one area to another. Although this is an important factor to prepare for, timing’s not the only thing to be taken into account. 

Home buyers who are serious about making the most out of their purchase and should have a thorough grasp of their financial situation and the housing market. 

While this might be a lot to take in, this’ll definitely ensure that the opportune time to buy a home doesn’t pass you by. To make things easier, faster and to have peace of mind, seek the help of a trusted mortgage broker and financial security advisor

What better way to start the year off than enjoying your new home.

Get started with Daisy Raouph today