When is the Best Time to Buy a House in Thornhill, Ontario?

 Best Time of the Year for House Hunters in Thornhill, Ontario

Buying a House in Thornhill Ontario

Deciding on where to move next, could be quite interesting especially in a beautiful place such as Thornhill, Ontario. Thornhill is considered as one of the best places located in the northern part of Ontario, which is split between the cities of Markham and Vaughan. Thornhill was once considered a polite village but, with almost a hundred thousand inhabitants, it becomes one of the best towns in its own right. Thornhill is well-known with a good average income with relatively low property costs and taxes. Aside from this, the market value of the properties started to rise after years of decline. Additionally, Thornhill is a fast-growing town, which offers better job opportunities, which makes it a perfect place for every family to move in and start a new life in their own house. With all these pros, you may decide to buy a house in Thornhill, Ontario. But maybe you will be asking, when is the best to buy a house then?

Best Hunting Time for Home Buyers

Location is one of the most spouted mantras, particularly in real estate investment, but in terms of seasonal market and housing, getting the best deal on buying a home, maybe more on timing over anything else. Based on some researches made, it is known that analyzing home sales and other real estate data  Thornhill area, January was identified as the best time to buy a house. Homebuyers who want to close the deal in the first month of the year spend less amount of money compared to buyers in the spring season. In this matter, a sizeable chunk of money could be saved, which will help pay even a large sum of down payments, other investments, or savings accounts.

One of the reasons, why January is the best and cheapest month of the year to buy a property in Thornhill, Ontario, traces back to supply and demand. In this particular month, fewer buyers are on the scene, so demand drops and prices eventually drop as well. In most cases, houses in January take a bit longer to sell than in the spring season. More than that, in the peak spring season, buyers usually pay 100% of the original list price. These reasons feedback to why January is the cheapest period of the year to buy a house, specifically in Thornhill, Ontario.

Those who are trying to sell in January know they are into a dead sales period and most of them are highly motivated to sell by cutting a significant amount of money off the actual price. Thus, this is good news for new house hunters who want to save big time. However, it is also important to consider that January comes to a smaller supply of home listings, which provide fewer new listings, than any other calendar months on the average. Likewise, there is a small pool of listing to choose from, and moving will be more difficult for families to do in the snowy days of January. Despite all the obvious setbacks, January is by far the best time to sign on for savvy and conscious house buyers.

According to one of the best Ontario’s real estate brokers, January is considered the best month for home hunters to make house purchases. Some house hunters wait for the spring season, when inventory skyrockets, but the demand on this season is too high, which causes bidding wars and other frenzy competitions.  

Whether or not you may be influenced to buy a new house in January or not, it is important to study and dig into a more detailed angle of the housing markets and to know that the right timing can have a great impact on your final decision. However, if you want to stick to the typical months of the year to buy, either in July or August may be a good month to buy a new home. Based on some studies, outside of the winter season, these months were the only warmer times to see home prices fall below the calendar-year average.

Additionally, based on the reports of Justo Brokerage, Tuesday is considered as normal and the best day of the week to purchase a new house. Engaging in offers on Tuesdays provides lengthy days in the week for discussing and selling home hunters before everybody gets comfy and looks forward to the weekend‘s recreation mode.

Homeowners’ Eagerness to Sell

Justo Brokerage noted that December was the worst month of the year for home sales, per GTA over the past six years. These issues have led eager home sellers, to sell and settle with interested house buyers immediately.  In this case, sellers place their tangible properties on the market in January with a sense of urgency. Perhaps, they know that at this time, house hunters have a great deal of leverage in this sluggish sales cycle. Also, there is a reduced level of competition in January as most prospective buyers are looking for the spring season when listings are on skyrockets.

Holiday Payables

Debt has always been a concern of most home hunters that could steer them away from making huge purchases, like a new home, but for motivated buyers who have planned, buying a home specifically in January will never be an issue at all.

Impact of Weather

Some homebuyers don’t want to go house-hopping during snowy cold weather, giving great opportunities and a major advantage to those who are willing to combat the bad weather and make the largest purchases of their life. Apart from weather that holds buyers back, January is when credit card bills surge up from the holiday season, which may cause some prospective home buyers to rethink their timelines. Thus, giving a chance for excited home buyers to save and enjoy huge savings on hand.

Conscientious Home Hunters

Indeed, the time of year will influence and affect your home buying options, notwithstanding the specific housing market where you plan to stay and live. Real estate investment is considered as among most recurring industries, and when looking for a new home purchase, buyers need to be aware of the best timeline that falls in that particular cycle. There may some months of flexibility, but depending on market forces, such flexibility may or may not be in your favor. In case, the local housing market is stable, however, then the best time may work well on your side.

With the high cost of real estate recorded in Thornhill Ontario, it is just fine if you will decide to stay on the sidelines. Nobody can predict what will happen with the prices, so buyers need to be smart enough, on how much money to borrow and invest. Buying a home will be the largest purchase of anyone’s’ life, so take the best steps to be more educated on this matter, before jumping into the markets.

Statistics show that January, is the best time to buy a home, however, do not get too upset, if in case you will miss this window. Planning ahead of time, knowing your budget, and sticking to it, while getting that beautiful dream home would pay-off, in the long run, giving you a comfortable and satisfying life.