A Real Estate Agent Shared The Best Time To Buy & Sell A Home In 2023

The first thing you need to do when buying and selling real estate — in Montreal or anywhere — is to have patience, says real estate broker Luciano D'Iorio. This is especially true for "potential first-time homebuyers," he told MTL Blog over the phone.

(Okay, so maybe most Montrealers aren't looking to invest in real estate right now, considering the state of the economy. For now, let's just pretend you can afford this conversation.)

D'Iorio's second tip is to keep location in mind. "Location, location, location, that's always the number one," D'Iorio said. If you're looking to buy a home, it's worth assessing not just as your own property. "It's also an investment, you know?"

So think about where you're buying and know that it's a long game. D'Iorio's experience is mostly in commercial real estate, but his advice applies to residential investments, too. From a leasing perspective, he says, "the best timing is probably over the next two quarters or so," when landlords will be "willing to give more incentives" to potential tenants.

In terms of investments, D'Iorio sees a lot of potential coming from new developments. "I think some [investors] are in a situation where they may have bought more than they can [handle] and bitten off more than they can chew," he said. "And so I think there's going to be opportunities for investors that are looking to get in the game."

For people deciding whether to buy or rent, D'Iorio suggests those looking for flexibility stick to renting, while people with more long-term needs should buy — but not right away. He sees interest rates potentially decreasing sometime soon, or at least remaining stable enough that waiting shouldn't put you at any great risk.

For those still waiting for a market crash to buy their first home… fingers crossed!

This article's cover image was used for illustrative purposes only.