When it comes to buying a home in Kelowna, great timing can make a world of difference. If you're currently hunting for a new home and a little unsure of best practices, you're certainly not alone. Below are some suggestions regarding the best time of year to buy a home in Kelowna.
Before buying a home in Kelowna, always consider recent market stats and trends for insight on buyer demand and how this relates to the supply of homes on the market. Choosing a new home is by no means an easy feat, but identifying market trends is an effective way to avoid undue stress and ensure confidence in your buying decision.
Online searching for the latest market trends and investment advice in Kelowna is, of course, an excellent place to start. In fact, there are plenty of helpful resources right here on our site. If you are looking to become a first-time homeowner, for instance, check out these helpful questions and advice for home ownership. Aside from perusing the internet, you can have all your questions answered by contacting a trusted realtor in the area.
Complete with sprawling vineyards, gorgeous scenery, and job opportunities abound, it's no wonder Kelowna is becoming a popular dream destination, especially for Vancouverites looking to enter a more affordable real estate market. Up until recently, the Kelowna real estate market has been a hub of activity showing no signs of slowing down.
At the top of 2018, however, the Kelowna market finally experienced a decrease in sales and an increase in inventory, before balancing out nicely in the Spring and Summer months. A balanced market can be helpful in giving buyers more time to play with, allowing them to focus more on seasonal factors and personal pros and cons in the pursuit of buying their dream home in Kelowna.
Note the Changing Seasons
Even in a neutral market, it's crucial to note how the changing seasons can affect the best time of year to buy a home in Kelowna. Typically, more people buy homes between July and September, with the market dying down significantly in October through December.
Naturally, homes tend to show better and brighter in the summertime, but moving in summer can also be a much more suitable choice for parents of school-aged children who don't wish to risk disrupting their children's usual routine. More generally, in the cold winter temperatures, those looking to delve into the real estate market may not be quite as eager to uproot their lives, reacclimate, and adapt to a new neighbourhood if they have the option of waiting till Spring.
With this knowledge in mind, assess whether you'd be willing to make a move in the frosty Kelowna winter. It may be worth it to you, if it means starting Spring with the keys to your ideal Kelowna property.
Consider Buying A Home During the Holidays
Although it may not be your ideal holiday activity, being mindful of national and local events can give you a competitive edge in the real estate market. The best time of year to buy a home in Kelowna is often surrounding major holidays, when buyers and sellers alike are typically in good spirits.
Arguably the best day of the year to buy a home in Kelowna is December 25th, when most celebrators have gifts on their minds, and turkey and eggnog in their stomachs. To that end, homesellers may be more willing to compromise on offers when engrossed in the holiday spirit. While it can be difficult to find a real estate agent willing to work on Christmas Day, it's certainly possible, and doing so could grant you and your family a whole new reason for holiday cheer.
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