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Porter Ramsay Blog

Is there a better time to buy real estate in British Columbia?

On Behalf of | May 9, 2019 | Real Estate Law |

Would-be purchasers of real estate always face the tough decision about when to make an offer on a property. Some British Columbia residents might think there is a best time to buy or sell real estate, but the truth is, the market doesn’t really work that way. There will always be some uncertainty in housing markets and forecasts are just that — forecasts. It is true there are times when prices ebb and flow, and if someone finds the perfect property for his or her situation, waiting to make an offer in case the price might fall is not necessarily the wisest idea.

Timing the market to buy low and to sell high is risky business. Experts say there is much more complexity to the market than pricing and when buying, much depends upon what is going on in a purchaser’s life. Is the purchaser going from renting to buying? Is he or she looking for an investment property? The motivators can be different in individual cases.

If purchasers have children who may be beginning school, perhaps they are looking for a home close to an upstanding school. Perhaps they will want to move into a new home prior to the children starting school. Much of the time, this is why the market seems to pick up the pace in the spring — purchasers want to be in a new home before the kids head back to class. 

Whatever the reasons are for British Columbia residents buying real estate, having the help of a lawyer in doing so can ease the stress. A lawyer can advise a client on what should be included in an offer to purchase. He or she can also review any potential offers to ensure a contract is in the best interests of his or her client.