Benefits of Starting Your Real Estate Search Now
You’re planning on buying or selling in a year or two … So why would you start planning now?
Get to know your realtor (and let them get to know you)
This is likely the biggest financial decision of your life. A couple meetings well in advance with the person who could be helping you might make you feel more comfortable and more excited. A realtor will also want to get to know their buyers or seller - what’s important to them, what their timeline is, and which neighbourhoods and amenities would make them light up.
Fulfill your “Pipe Dreams”
For example, are you looking for a single family detached house with 4 bedrooms, 2+ parking spots, in the Golden Triangle, under 600k? 1 property matching this search criteria has sold over the past 5 years, “so, you’re telling me there’s a chance…”
You should have your realtor combing cancelled/expired listings and also give yourself this time (well in advance of when you might need to move) to discuss and adjust your criteria to ensure you’re search is realistic.
Familiarize yourself with the market
Your realtor will have you set up on a search with your criteria, and you have this time to check them out, go to open houses, and discuss pricing. Getting to know your possibilities decreases the potential that you will make an emotional decision. Your realtor is already familiar with the market and will know when you need to make a quick decision on a property. If you aren’t familiar with the market as well you might not feel comfortable pulling the trigger so quickly - and lose out.
Consider New Build
If you don’t have plans to move for a couple years, you have the opportunity and time to talk to your realtor about new build construction. Right now Ottawa is booming with new development neighbourhoods and condominiums, and there are dozens of builders, large and small. Each builder puts forward their own design style and may have model homes, or previously built homes on the resale market to visit around the city. Deposit structures can vary between developers in Ottawa, but some can be very generous with timing and initial investment. Typically construction time for these projects take 1 - 2 years, take this into account if you have a property to sell.
When is the best time to buy?
I’m sure every realtor out there, including myself, is asked this often. Typically, most buyers might think the spring or summer are the best times to buy. More listings hit the market in Ottawa once spring arrives (makes sense for marketing - you can actually see the backyards with amazing decks and pools). Yes, there are more listings, but there are also more buyers. Fall or Winter can be excellent seasons to buy. There might be less listings to choose from, but if that perfect property comes up, you may not have the competition from other buyers. If you don’t mind moving mid-school year, you could get very lucky with your dream home.
Contact me to start your search today.