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Top Tips for Purchasing a Home in the Winter in Saskatoon
Buying a home in the winter might not be the most traditional choice, but it can come with unique advantages. In Saskatoon, the winter real estate market often brings less competition and opportunities for motivated deals. However, it also requires careful consideration to navigate weather-related challenges and make informed decisions. Here are some tips to keep in mind when purchasing a home during the colder months.
1. Take Advantage of Winter Market Conditions
The winter season often sees fewer buyers in the market, which can work to your advantage. With reduced competition, you’re less likely to face bidding wars and more likely to negotiate favorable terms.
- Motivated Sellers: Many sellers listing their homes in winter are motivated to close the deal quickly, whether due to a job relocation or personal timelines. This can translate into better pricing or more flexible conditions for you.
2. Be Mindful of Winter-Specific Challenges
Saskatoon winters bring cold temperatures and snow, which can create unique challenges when inspecting and evaluating a home.
- Inspect Thoroughly: Snow and ice can hide issues with the roof, gutters, or landscaping. Be vigilant and request a thorough inspection to identify any hidden problems.
- Check Heating Systems: Ensure the furnace, insulation, and windows are in good condition to keep your future home warm and energy-efficient during Saskatoon’s cold months.
- Look for Drafts: Visit the home on a cold day and take note of any drafts or uneven heating. These can indicate poor insulation or sealing.
3. Evaluate Year-Round Functionality
While winter is a great time to buy, it’s also important to consider how the home functions throughout the year.
- Assess Natural Light: With shorter days, you’ll quickly notice how much natural light the home receives. If it feels too dark in winter, it might not meet your needs in other seasons either.
- Plan for Summer Needs: Even in winter, think about outdoor spaces like patios, decks, or gardens. Look for signs of landscaping maintenance and envision how the yard will look when the snow melts.
4. Prioritize Safety and Accessibility
Saskatoon winters can make getting around more challenging. Ensure your new home will be safe and accessible no matter the weather.
- Parking and Driveways: Check for adequate parking space and ease of access. Consider whether the driveway or walkways are manageable to shovel or maintain.
- Proximity to Essentials: Factor in the home’s location relative to schools, grocery stores, and other necessities. Winter driving conditions can make convenience even more critical.
5. Work with a Knowledgeable Local Agent
Navigating the winter real estate market in Saskatoon is much easier with an experienced local agent by your side. A knowledgeable agent will help you identify the best properties, negotiate effectively, and guide you through weather-related considerations.
- Market Insights: A local agent understands Saskatoon’s market trends and can help you make an informed decision.
- Winter Expertise: They’ll know how to address winter-specific issues, such as frozen pipes or snow-covered landscaping, ensuring you feel confident about your purchase.
Find Your Perfect Home This Winter
Winter can be a fantastic time to purchase a home in Saskatoon, offering unique opportunities and advantages. By staying informed and working with a trusted real estate agent, you can turn the season into your buying advantage and find the perfect home for your needs.
Thinking about buying a home this winter? Contact me today for expert guidance and personalized service in Saskatoon’s real estate market. Let’s find your dream home, no matter the season!
9 Reasons to Move to Saskatoon
Known as the Paris on the Prairies, Saskatoon is the largest city in Saskatchewan. With the South Saskatchewan River flowing through its centre, as well 6 traffic bridges and 2 train bridges, it has also been called the City of Bridges by many, too! No matter what nickname you choose to use, though, there is a lot to love about the city of Saskatoon; and more and more people are choosing it as a wonderful place to live, work and raise a family! Why? Well, here are just 10 reasons why:
Meewasin River Valley
Saskatoon lies on the banks of the South Saskatchewan River and has wide, tree-lined streets amid vast parks and green spaces. Listed by Reader’s Digest as one of the top 10 greatest hikes in Canada, the Meewasin Valley Trail extends for 60 kilometres along the east and west banks of the South Saskatchewan River. The trail is also great for cycling, running, and walking your furry friends, and is well-maintained year-round.
City of Festivals
From the Wintershines Festival to the Saskatoon Blues Festival, the Fringe Festival to the Shakespeare on the Saskatchewan, Saskatoon is home to many festivals throughout the year. No matter what your interests, there is a season for you, and plenty of fun for the whole family at the city’s annual Exhibition Fair!
One of the Sunniest Cities in Canada
As the city’s slogan states, ‘Saskatoon Shines’! No matter the time of year—whether the ground is cloaked in snowy white or graced with green grass—the sky overhead is likely to be filled with sunshine. Residents of Saskatoon enjoy an average 2,381 hours of sunshine every year (a fact which undoubtedly contributes to their sunny dispositions). If you are looking for a place to soak up the sun, visit one of the city’s 198 parks or take a drive out to one of the many nearby beaches found at Pike Lake or Blackstrap Lake Provincial Parks.
City of Bridges
What do Paris and Saskatoon have in common? Bridges! Six traffic bridges and two train bridges span the city, all of which cross the South Saskatchewan River, and make travel through the city quick and convenient, no matter where you are coming from.
Persephone Theatre
For those who love live performances on the stage, the Persephone Theatre is made for you! Sigh, laugh, cry, and immerse yourself in the world of creative theatrical performances hosted at the Persephone throughout the year, including comedies, classics, tragedies, and even contemporary pieces. The theatre offers something for everyone, so discover the beautiful world of the human imagination and experience it all for yourself.
The Remai Modern Art Gallery
The Remai Modern Art Gallery sits on the banks of the Saskatchewan River, and offers 11 gallery spaces and spectacular views of the twisting waterway over the city plains. It hosts an assortment of art designs and tastes from the 21st century, and is regularly updated, so you can visit over and over again for a new experience each and every time!
Wanuskewin Heritage Park
Wanuskewin Heritage Park is a monument to the history of the Northern Plains indigenous people of Canada. It features a beautifully renovated heritage site—home to exhibits, a gift shop, and gorgeous conference and event spaces—as well as over 6 kilometres of walking trails amongst the stunning landscape. The park is designed to help visitors connect and understand the culture of bygone societies and their bond with the land.
Low Cost of Living
Saskatoon enjoys one of the lowest costs of living among major cities in Canada. This means that you will pay less for housing, utilities, food, and taxes in Saskatoon than in other similar-sized or larger cities. Paying less for these essential things means that you will have more money available for saving or spending on less essential items!
Affordable Housing
The Saskatoon real estate market is known to be quite generous, giving you much more bang for your buck than other major Canadian cities, such as Toronto or Vancouver. The average price of residential properties in the first quarter of 2021 was just $333,826. The mature Nutana area, the family-friendly Sutherland neighbourhood, vibrant City Park, and the peaceful Avalon district are some of the most popular places to settle down in.
Of course, these are just some of the reasons you’ll love living in Saskatoon, should you decide to buy a home here. If you’re ready to move to Saskatoon please reach out to me. We can discuss your neighborhood, and lifestyle wish list and find a home that will suit your needs!
Home Buying Incentives
The Saskatoon real estate market is hot right now. Buyers are searching for homes for sale quicker than they are coming on the market, and homes in certain price ranges are seeing an increase in value. This is making it even tougher to get onto the property ladder as a first time home buyer. These programs from the Government of Canada may be helpful to you if you are ready to start your house hunt:
The First Time Home Buyer Incentive
The First-Time Home Buyer Incentive is just like it sounds—an incentive for first time home buyers to buy their first house.
If you have the minimum down payment for an insured mortgage, you can apply to finance a portion of your home through a shared equity mortgage with the Government of Canada. For a purchase price of $500,000 or less, the minimum down payment is 5%. When the purchase price is above $500,000, the minimum down payment is 5% for the first $500,000 and 10% for the remaining portion.
A shared equity mortgage is where you take a smaller mortgage, in exchange for your lender owning some equity in the home. You’ll essentially become a co-owner of the property alongside your bank lender. You’ll get to live in the house, but only borrow a fraction of the purchase price. When you sell the house, you’ll share the profits and losses from the sale with the lender, in line with your equity share.
The Home Buyer’s Amount
The Home Buyer’s Amount is a non-refundable credit for first-time home buyers and buyers with disabilities. It offers a $5,000 non-refundable income tax credit amount on a qualifying home acquired during the year. For an eligible buyer, the credit will provide up to $750 in federal tax relief.
The Home Buyer’s Plan
The Home Buyers’ Plan is a program through the Canada Revenue Agency that allows eligible first-time home buyers to withdraw up to $35,000 in a calendar year from their RRSP to buy or build a qualifying home. The program states the funds withdrawn must be paid back within 15 years.
GST/HST New Housing Rebate
The GST/HST New Housing Rebate allows an individual to recover some of the GST or the federal part of the HST paid for a new or substantially renovated home that will be used as a primary residence.
To begin buying a house, start by assembling a team of real estate professionals to guide you through the process. Your lender can help you understand exactly what you can afford, and the steps you can take to afford the home you want. They can also give you solid advice on whether the first-time homebuyer incentive is something you should participate in. Your lender can then provide you with a pre-approval which will help your REALTOR® assist you in not only finding a home, but also in making an offer and negotiating the real estate agreement on your behalf!
