From great weather to a wide selection of homes, find out why the warmer months are an ideal time for purchasing a new property

There is a myriad of reasons to buy a home. Maybe your family is beginning to grow, you’re hoping to downsize, or you’ve just moved to a new area for work. Whatever your reason for buying, there are many different factors that can come into play when determining which home to purchase. 

Did you know that the time of year you buy can have a major impact? Each season is different, and buying a house in the fall is not the same as buying in the spring. Here in Toronto, summer is one of the best times to buy--here are three reasons why.

Weather

There is no place like Toronto in the summer. Longer days and better weather electrify the city, and there are a plethora of things to do. Head over to High Park to see the flowers in peak bloom, or go biking along the shores of the Toronto Islands. Fall in love with the cobblestones of the Distillery District and check out one of the Sunday markets; wander the trails at both the arboretum and botanical garden; or take in a Blue Jays game.

The fact that it’s pleasant outside will allow you to explore the community you’re interested in moving to in addition to the home itself. Location is key, and you’ll want to make sure there are shops, restaurants, and other entertainment venues nearby that you’re interested in utilizing for optimal convenience and leisure.

Options

There is no shortage of homes on the market in the summer months, meaning that you will have a vast pool from which to choose. Historically, the majority of houses go on the market around May, and more listings mean more options so you can get everything on your wish list.

Interest Rates

Interest rates are a huge factor when taking out a mortgage. Luckily, the Bank of Canada is not expected to raise interest rates more than once this year, so they should stay at the current rate of 4.375 percent for some time. So if you are buying a house this summer, you most likely won’t have to worry about a sudden jump in rates.


Want to learn more about why Toronto is a great place to live? Check our blog. If you are thinking of moving to the Toronto area, contact us today. It would be our pleasure to serve as your Toronto real estate agents and help you find a home that’s right for you.