The Pros & Cons of Spring House Hunting

There’s an ongoing debate about the best time of year to buy a house. Spring is a strong contender — although there are also some disadvantages to house hunting during this time of year. Being clear about the pros and cons will help you come to an informed decision.

Pro: More Choice

Spring is a popular time to move, which leads more sellers to put their homes on the market. This means more choice for homebuyers — and therefore greater odds of finding the perfect property.

Con: Greater Competition

The downside of spring being popular is the need to compete with many other homebuyers. This means bidding wars are more likely — you could even lose out on your dream property, which is definitely disappointing. In the best case scenario, you’ll often pay more than you would have for the same property in the winter.

Pro: Move in the Summer

Families with kids prefer to search for a new home during the spring because it means they’ll likely finalize the sale right before the summer and be able to move during the school break. Moving is far less disruptive if it doesn’t interfere with school commitments. Plus, the kids will be settled before the fall semester begins. This is especially important if you’re moving far and will need to change school districts. Since the average transaction takes between 60 and 90 days, coming to a decision in April or May is ideal.

Con: Decisions Are Often Rushed

To finalize a sale before the summer and compete with other homebuyers, it may be necessary to come to a decision quickly — or lose out on the property. Purchasing a home is a big decision and rushing it is far from ideal.

Pro: Spring Weather Makes House Hunting Pleasant

Homes often appear more attractive in the spring, making them more enjoyable to visit. You’ll see how the gardens look in full bloom, fresh air will be blowing in through the open windows, and visiting multiple houses over the weekend becomes a fun experience rather than the chore it can be during the winter.

Con: Negotiations Are Often Difficult

If multiple people are interested in the same property as you, it may be necessary to offer more than the asking price. You need to consider carefully if this is something you can afford.

Pro: Homebuyers Often Have Extra Cash

Spring tends to be the time of year when people have the most spending money: they’ve recovered from their holiday spending, received their tax return, and their kids’ school expenses are typically at their lowest. The extra cash can go toward expenses like legal support, inspections, and movers.

Whatever time of year you decide to go house hunting, it will help to have the support of professional realtors. Sherwood Park homebuyers can find the perfect property for them when they work with Damon Bunting. Since the market can be tough in the spring, it’s especially important to have a great negotiator on your side — we can help with that. Contact us to learn more.