I recently came across an article on Realtor that lists the six pros and cons of doing so. To read the full article, click here. In the meantime, here’s a summary of what you’ll love and hate:
You’ll love: All the inventory. One of the best things about buying in spring is you have more options to choose from. However, keep your home buying criteria in mind so you don’t get overwhelmed.
You’ll hate: All the competition. A busier season means more buyers, which means more competition and a chance you’ll have to deal with bidding wars. As a result, you need to act quickly when the right listing comes along.
You’ll love: All the open houses. More homes on the market mean more open houses, so if you relish the chance to look at homes in person, this is the perfect chance to do so. This also represents a great opportunity to get a feel of the neighborhood you’re thinking of purchasing in.
You’ll hate: The time-related pressure. Great listings get snatched up all year long, but this is especially true during spring. When the right home comes on the market, you need to act fast, so you need to zero in on what you’re looking for and in what price range before you seriously start looking.
You’ll love: Shopping in warm weather. Shopping in warmer weather makes for a much more enjoyable house-hunting experience. Not only that, but it means much more favorable moving conditions.
You’ll hate: The higher prices. Buyers generally have more wiggle room during the slower seasons since there’s less competition. In spring, you need to be prepared to pay the full list price as long as the home is listed at its market value.
As long as you’re prepared for these pros and cons, you’ll be in a great position to close on your dream home. If you have any other questions about buying in the spring or you have any other real estate needs we can take care of, don’t hesitate to reach out to us. We’d love to help you.