Spring brings new beginnings and can be an ideal time for your home search. If you are considering purchasing a new home, this may be primetime for snagging precisely what you want at a great price. Please keep reading to learn more about why spring is a great time to buy a new home and our tips for searching for your dream home during the spring.
Spring Real Estate Season
While spring can vary from place to place, the spring real estate season generally lasts from April to June. Spring is traditionally accompanied by an increase in listings and open houses as we emerge from the difficult and depressing weather of winter. More people are looking to make a move which means more homes on the market. This can mean that houses move quickly, but it also makes it a great time to see what’s available and jump if the price is right.
Why Buy During Spring
While the National Association of Realtors reports that prices are lowest in the winter, this can be a difficult season to buy a home due to weather and transportation challenges. Snowy conditions and dark days make it challenging to get to open houses or envision homes in all their glory. Prices are highest during the summer, making it a less than ideal season for most buyers.
Spring offers ideal conditions for open houses and increased availability on the buyer’s side. The holidays have come and gone, and many home buyers are ready for a change. It’s enjoyable to spend a day visiting homes, imagining what your life may be like there. And while prices are on the rise, it can be a great time to get a deal on a home that may have been listed all winter.
Tips For A Spring Home Search
Do Your Research
With the speed of the market during the spring season, it is essential to do your research and stay on top of the areas you are interested in. Make sure you are very clear on what you are looking for and what your budget is. The ability to make decisions quickly will be to your advantage during the spring real estate season.
If you are searching for a home in a particular area or neighborhood, make sure you know the ins and outs before you begin your search. You should be aware of the value of homes in that area and how much similar houses have recently sold for, as well as researching crime rates, school districts, and local community attractions.
Choose An Expert
As a buyer, working with a real estate agent can be highly beneficial for you during your home search. Consider seeking out an expert in the area you are looking to buy in that can offer knowledge that may not be available via research. A real estate agent can also help you negotiate or navigate a bidding war. They will help you make sure you don’t pay more for your dream home than it is worth.
Consider A VAL
The spring season brings both an increase in homes and homebuyers to the market. This can make certain areas especially competitive, and you may want to take advantage of specific tactics to provide you with a step up over other buyers. One way to do that is through a Verified Approval Letter (VAL).
By having a VAL, sellers will know that you can reliably finance their home upon purchase and may make you a more desirable buyer. It makes it clear that you have prepared funds and are serious about buying a home.