Spring is here, and if you’re a buyer, there are plenty of things to love about buying a home right now. However, there are also a few things to hate about the spring buying season.
I recently came across an article from Realtor.com that outlines all the major positives and negatives you need to be aware of before taking the plunge. To read the full article, click here.
In the meantime, here are some of the main points to take away from it.
Things you’ll love:
- Increased inventory. There are more homes to choose from, so you need to focus your time effectively and distinguish between areas you love and areas that are less desirable.
- More open houses. As more and more homes hit the market, there are more and more open houses taking place that give you a great opportunity to match what you see online with what you see in person and size up the competition from other buyers. As always, use your time effectively when sightseeing open houses.
Things you’ll hate:
- More competition. This means you need to fine-tune what you’re looking for and make your choices quicker. In an active market, new listings don’t even make it to their first open house before they’re snatched up.
- Time-related pressure. Like I said above, you’ll have to make decisions quicker in this market. If you have to sleep on it, odds are, you won’t get to sleep in it. Doing as much prep work up front as possible while working with an agent who has their finger on the pulse of the market will help tremendously in this regard.
- Increased prices. It all boils down to supply and demand. If there’s a lot of demand and many different buyers vying for the same homes, prices will go up.
If you have any questions about buying in the spring or you have any other real estate needs I can take care of, don’t hesitate to reach out to me. I’d love to help you.
