Real estate trends for years have shown that spring is the perfect time to buy or sell a home. Whether it’s the warmer weather, the pending summer break, or simply the seasonal shift, spring seems to be the time that people want to buy a home. Is spring really the best time to buy a house? There are some advantages and disadvantages to buying a home in the spring. Here’s what to consider.
Advantages of buying in the spring
During the spring months, there is usually more inventory meaning possibly a better deal for you, the buyer. Property listings tend to multiply around April to give buyers plenty to choose from. Simply stated, homes show better this season when plants and flowers are blooming and the weather is warmer.
Spring is also a great time for families to shop. For many families, relocating can be very stressful. With summer right around the corner, many things are lifted off families’ plates and moving can become the priority. If you are planning to move in the summer, springtime is the perfect time to shop for and buy a home. This timeline provides time for your family to get settled before having to start a new school year.
The weather makes for easy house hunting during the spring months. It’s hard to go out and get in and out of the car when the temperatures are below freezing or rain/snow is falling. It seems that spring puts everyone in a good mood, and things just look better and seem happier when nicer weather arrives.
Spring is also a great time to buy because you may be feeling a bit wealthier during this time. Christmas is passed, and a tax return could be on its way. This helps with the down payment and provides maybe more equity into your newly purchased home.
Disadvantages of buying in the spring
An advantage of buying a home in the spring is more inventory, but that can also work against you. There are also more buyers. With more people looking at homes, there could be multiple offers on the one you love, and that could lead to bidding wars and paying more than the asking price for the home.
Buying in the spring may make you feel rushed to get it all done. Not only closing on your home but packing and moving also. Again, with
Spring is also a terrible time to negotiate. You are not going to find a bargain in the spring for the same reasons mentioned prior. There are many buyers, and therefore many offers to compete with. You may not be getting the most for your money buying in the spring. You may expect to pay more for a home in the spring.