Buying in winter, good or bad idea? We take a look at the pros and cons of buying property in winter.
Waiting until winter to buy a property can be a good strategy to take advantage of a “quieter” market than in high season. However, the real estate market is particularly buoyant right now, and that can change the rules of the game! Here are a few points to consider when buying in winter.
Winter period, especially in the beginning, is considered the least active time of the year. This means there are fewer homes for sale, but also fewer potential buyers.
During this time, buyers are more determined and don’t visit just out of curiosity! They’re ready to brave the cold and snow to find their dream home.
For sellers, the holiday season is the ideal time to embellish their home and make it even more attractive to buyers. Take the opportunity to light candles, and the fireplace, decorate the house and create a warm atmosphere! The first 3 minutes are the most important for buyers; they need to feel at ease as soon as they enter the property.
Inspections are very important, summer and winter alike. During winter, electrical and heating systems, as well as door and window sealing, are put to the test. That’s why a pre-purchase inspection is so important.
What’s more, with snow piling up, you’ll be able to see if there are any infiltrations or insulation problems. Finally, certain areas may be inaccessible, such as balconies and terraces. The inspector might therefore recommend an inspection when the warm weather arrives.
When appointing an inspector, make sure they have expertise in winter conditions. Don’t hesitate to ask your real estate broker for advice, as they’ll be able to refer you to professionals you can trust.
Between lush nature and fascinating history, the Lanaudière region is a true corner of paradise to be discovered without moderation.
A region of culture, leisure and wide-open spaces, Lanaudière covers an area of 12,308 square kilometers. It is bordered by the Laurentians to the west, Mauricie to the east and north, and Montérégie, Montreal and Laval to the south, as well as the St. Lawrence and Mille-Îles rivers. Forests make up 73% of the Lanaudière region, much to the delight of outdoor enthusiasts.
The diversity and vastness of the Lanaudière region have led to the identification of five sectors, each with its own characteristics.
To the south is the Grande Côte, stretching from Repentigny to Berthierville and its islands. Kayak enthusiasts will be delighted by the Route Bleue, while history buffs can follow the Chemin du Roy.
The heritage cruise on the St. Lawrence River combines these two activities, presenting the history of Repentigny and its surroundings, the era of the resort, the surrounding islands and the region’s main attractions, all enhanced by musical entertainment.
The Les Moulins sector encompasses Vieux-Terrebonne and Vieux Mascouche, immersing visitors in the heart of New France with its ancient buildings and ancestral homes. Water activities on the Mille-Îles and Mascouche rivers are also at the heart of this sector. Add to this the many terraces, bistros, boutiques and entertainment venues for a lively lifestyle.
The Musée de l’Île-des-Moulins in Vieux-Terrebonne comprises three historic buildings: the Maison Bélisle, the Bureau seigneurial and the Moulin neuf. Exhibitions, interpretation and animation activities explain the social, economic, industrial and cultural history of Terrebonne and the Moulins region.
The La Plaine area, from Joliette to L’Assomption, is more of a gourmet trail, thanks to the agricultural plains that make up this territory. Pick-your-own berries, cheese-making, sheep-farming and much more, epicureans are in for a treat!
La Suisse Normande in Saint-Roch-Ouest welcomes visitors to its boutique, where they can watch the making of their vast range of farmhouse goat, cow and ewe cheeses. It’s even possible to taste the cheeses and visit the goat barn and farm.
Heading further north is the Le Piémont sector, with its magnificent landscapes sure to please adventure-seekers. This part of the Lanaudière region includes the towns of Saint-Calixte, Rawdon and Saint-Jean-de-Matha, as well as Lac Maskinongé. On the menu: hebertism, hiking, golf, canoeing, kayaking and swimming in crystal-clear lakes and rivers.
All the way north lies the Les Montagnes sector, from Saint-Donat and Saint-Michel-des-Saints to the Atikamekw lands of Manawan. A haven of peace, this area is the perfect place to recharge your batteries or go fishing. Reserves, parks and outfitters welcome vacationers in cozy inns surrounded by fir trees. Tranquility guaranteed!
The Parc régional de la forêt Ouareau in Notre-Dame-de-la Merci offers day hikes and refuge stays for outdoor enthusiasts. The varied itineraries can be adapted to suit the type of experience desired. Pets are welcome.
The Lanaudière region’s residential real estate market recorded a significant 53% increase in the number of sales in September 2020 compared to the same period last year.
The median price of single-family homes rose compared to September 2019, recording a 21% increase to $280,000.
Finally, the number of active listings decreased by 47% and new listings increased by 12% compared to September 2019.
Residential real estate market statistics for the Lanaudière region based on the Centris provincial database of real estate brokers.
The 3rd quarter of 2020 saw a strong 57% increase in sales in the Lanaudière region, with 2,630 transactions completed.
The number of new properties for sale rose by 12% to 2,874, while active listings fell by 48%.
In terms of prices, the median price of single-family homes reached $291,500, up 23% on Q3 2019.
For more real estate statistics for the Lanaudière region in Q3, click here.
Source : Centris
Selling your home is an important process that involves many steps. Team up with a real estate broker for a successful sale! Your broker will ask you for certain documents, which you can prepare in advance to be more efficient.
Purchase Contract
This document is proof of your ownership of the property. It will be particularly useful in the event of separation or inheritance.
Certificate of Location
This document is essential and must be provided by the seller. It is valid for a maximum of 10 years and must describe the current state of the premises. The certificate indicates the measurements of the building and property, as well as the cadastre. If your certificate is out of date, please note that it will take approximately 4 to 6 weeks for a new one to be drawn up. The notary must be informed at least 20 days before signing the deed of sale.
Municipal Tax Account
If your city’s registry is not free, you’ll need to provide your broker with the tax account.
Notarized deeds and building documents
If you have any property-related documents in your possession, gather them together to speed up the process. Here are some examples of documents you may have, depending on your situation: deed of sale, deed of loan, deed of servitude, school tax bill, title deed, inspection or appraisal report, deed of mortgage guarantee. Alternatively, a few tools, such as the land register, can be used to retrieve such information.
Invoices and Documents for Seller’s Declaration
Invoices and Documents Relating to the Work
A complete, accurate and fair seller’s declaration is essential to protect the seller and establish a relationship of trust with the buyer. This is where you detail all the work and repairs you’ve carried out. Transparency is essential! If you’ve had water infiltration, for example, you need to declare it. If you’ve re-roofed or installed a swimming pool, try to find invoices for the materials used. Supplement your file with guarantees, invoices, plans, permits, reports, etc., that can attest to the work carried out.
Electricity and Gas Bills
These documents can be used by the buyer to find out the energy costs of the property and to ensure that the bills are paid before selling the property.
Identification to identify parties
Photo identification
Your broker will need to verify your identity with government-issued photo identification (driver’s license, health insurance card, passport, etc.).
Other Documents
You can prepare in advance any other documents relevant to the sale of your home, such as inspection and appraisal reports. Remember that the preparation of your documents is important to ensure that your file is complete and that you can put your property on the market as quickly as possible.
Homebuyers aren’t necessarily turning their backs on the real estate market. Rather, the problem is that more and more buyers are no longer finding homes to buy, since their numbers have dropped significantly since the arrival of the coronavirus.
A year ago, in April 2019, the Quebec housing market had 41,221 listings waiting to be snapped up. A year later, in April 2020, that number had fallen sharply. According to statistics provided by the Association professionnelle des courtiers immobiliers du Québec (APCIQ), there were 30,608 homes for sale last month. This represents a 26% drop in the number of listings compared to last year.
Normally, in times of crisis, the number of listings is high, the number of bank repossessions increases and demand decreases.
On paper, there are currently fewer homes for sale. Last month, the number of transactions was also down 61% year-on-year.
But on the ground, buyers haven’t necessarily disappeared. That’s what real estate broker Francis Lavoie, who is active in the Greater Montreal area, is finding out. Since the beginning of the COVID-19 crisis, he has noticed that around forty additional buyers are contacting him every week to buy a home. However, he notes that these buyers have to deal with an unusually low supply market. Many are waiting for more listings to find their dream home.
In any case, the current context for selling a home may not be as unfavorable as you might think, but that depends on your region. In the Montreal region, compared to April 2019, single-family home prices were up 9% last month. But for Quebec as a whole, growth was lower, at just 1%.
TIPS
©Tous droits réservés - Équipe Stéphanie Dionne.
Une création de Propagande Guerilla.
