Spring season is the most popular time for buying and selling real estate. Although the season starts from March to May, the list of properties that are up for sale start to increase in February. If you’re thinking about purchasing a new home this season, you may want to weigh its pros and cons so you could determine if it’s best to push through your purchase or if it’s smarter to wait some other time for this. Let’s go through the advantages and disadvantages of purchasing a property during the spring season, which is the hottest season for real estate sale.
Pros of Buying a Property in Spring Season
There Are More Properties for Sale
As mentioned, spring is the most popular and hottest season of real estate sale. This is because there are also more people who are looking for properties during this time. One of this reason is the nice weather. It’s also easier to make the property look better compared to the winter season when everything is covered by snow. Flowers are in bloom and plants and trees are lush during spring, making properties even prettier, thus attracting more buyers.
You Could Move by Summer
If you successfully purchased a house in spring, you are probably ready to move by summer. This is a convenient time as the kids would be on vacation so everyone could help around and you don’t have to worry about their schedule. Plus, if they need to move to a new school, it would be in the start of a new school year, which makes it even more convenient than having to move in the middle of the school year.
The Weather is Nice for House Shopping
As stated above, more buyers prefer to hunt for a new house during spring because of the nice weather. Imagine having to drive during winter, when everything is surrounded by snow. It wouldn’t be a nice experience and you wouldn’t be able to see what the houses really have to offer.
There’s Probably Extra Cash in Your Pocket
School is already about to end during spring, plus the holidays are over so the expenses may not be as high, leaving you extra money in your pocket. You might need this for your house hunting and also for various expenses that you may incur if you decide to purchase a home.
Cons of Purchasing a Property in Spring Season
You Would Compete with More Buyers
Looking for a house during this popular season also has some cons and one of them is that you would have more competitors. Since more people are also looking for properties, there may be others who could make a higher offer than you.
You Might Feel Pressured to Make a Decision Fast
If you feel the pressure of having to purchase a home so you could move in by summer, it might affect your decision making. You might end up settling or purchasing a property that may not really be the best option for you.
Negotiation May Not Be an Option
This is related to the many competitors that you have. Since sellers know that there are many bidders out there, it might be more difficult to negotiate for a lower price.