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The Advantages And Disadvantages Of Buying A Home In The Spring

There are many factors that affect when you should buy a home. One of those factors is the seasons in the year. Before investing the time and resources necessary to purchase a home, it can be helpful to know whether or not you are purchasing during a good season. The reality is that not all seasons are going to be the best for purchasing a home. What are the advantages and disadvantages of buying a home in the spring?

The spring is a buying and selling frenzy. It is a season where sellers and buyers come out from hibernation. After a long winter of not wanting to deal with selling or buying a home, the spring brings out a fresh housing market. In 2014, the number of homes on the market began to increase in February. In March, April, and May, there was a continual growth in the number of homes on the market. Then in June, the number of homes reached a high point. In the months following, there was a slow decline of homes on the market, reaching a low in December. This year, the trend of homes on the market has been very similar, with an expectation that over the next few months we are going to see more and more homes on the market.

Though San Diego does not experience harsh winters like other areas within the US, the city still experiences highs and lows in the housing market. Though the trends are not as dramatic, the number of homes still fall and increase comparatively.

If you are considering buying a home in the spring, this is the information you should consider.

The advantages of buying a home in the spring include:

  1. More choices. Homes are going on the market at a rapid pace, meaning there are more homes for the buyer to choose from. If you are in the market for a specific style of home or a home with certain amenities, you are more likely to be able to find that home during this time of the year.
  2. The weather is nice. The cold temperatures in California and the snow in other parts of the country are slowly dissipating. When the weather is nice, it is easier to have the motivation to go look at homes. This is the case for not only homebuyers and sellers, but professionals like home inspectors and construction workers are also going to be more willing to put in the time to get the job done well.
  3. The mortgage rates are low. Mortgage rates are still low but are predicted to increase throughout the rest of the year. If you want to receive a good rate, the earlier you begin the process of being accepted for a mortgage, the better.

Disadvantages of buying a home in the spring include:

  1. Increased competition for homes. The spring and the summer are the hottest times to buy a house. The number of homes available increases, but so does the number of people looking to buy. This means that you are going to be up against most other buyers in the area. You are not only up against buyers for your specific home; you are also going to be up against other buyers for the cost of your home. The chances of you finding a great deal are a little slimmer as the number of people looking for homes will keep the prices high. You may try to offer a low price, but with so many buyers checking the market, others are more likely to come in offering a higher price. Bidding wars are going to keep the prices high.
  2. Increased competition for professionals. The spring and summer are seasons that keep the professionals in the housing market alive. If you are looking for the best realtor, broker, inspector or any other professional in this field, you are going to be up against everyone else also looking for the best.

There is no right or wrong answer when it comes to when you should buy a home. There are trends, predictions, facts, and theories available. But in the end, the best time for you to buy a home is going to be something only you will be able to decide. Homes are on the market during every season. Great deals are waiting to be found. Professionals are always looking to be hired. There are advantages and disadvantages of buying a home in every season. Know what is going to work best for you and your family and do that.

Contact Paul Chunyk

Reach out to me, I would love to give you more details and get you headed in the right direction to accomplish your goals.

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