Each season, there are some classic signs that let you know spring is here. Chirping birds. Late sunsets. A break in the weather. However, you might have noticed another clear springtime “sign” — the myriad “For Sale” signs that adorn the lawns of homeowners throughout the region. While spring might be the most popular time for the housing market, there are a few things to consider before beginning your search.
At The Novick Agency, we provide affordable home insurance policies for our clients in PA, and we understand that buying a home is generally one of the biggest single purchases you’ll make in your lifetime. We want you to have all the information you need to make your decision with confidence and certainty, so let’s take a look at why spring is one of the best times of year to purchase a home, and a few things you can do to prepare yourself and take advantage of the buying season.
Reason #1: Better Weather for House Hunting
In wintertime, house hunting can be a challenging endeavor. Not only can there be inclement weather, but the lack of plants or other landscape elements can leave you guessing about what the home’s exterior space actually looks like. However, home buyers typically come out of their hibernation during spring, allowing sellers to showcase their homes in their in optimum conditions.
Reason #2: More Inventory
Because homes show better in the spring, sellers are more motivated once warmer weather arrives. This leads to a considerable uptick in property listings, creating a wide range of inventory for prospective buyers. Additionally, sellers wait to get in on the action and jump into the bidding wars that often result from this surge in available homes for sale.
Reason #3: Ideal Time for Families to Buy
While moving a family from one place to another can be stressful any time of year, in the summer it can be much easier because there is no school for children to contend with. This means a less stressful balancing of schedules and can even make it easier to join a new school and district when the school year begins.
Reason #4: Extra Money
There’s a chance some home buyers are a little more flush in the spring. With Christmas long gone and a nice tax return in their pockets, the extra cash can be quite helpful to defray the costs of moving expenses like inspections, lawyers, moving crews, and more.
Preparing for the Spring Home Buying Season
Now that you understand the “Whys” of springtime home buying, let’s examine the “Hows” to give you the upper hand when purchasing your new home.
Tip #1: Understand Your Budget
You might start your home buying process online, looking at homes and researching prices — but once you get serious, it’s time to be realistic about your finances to avoid the whirlwind of getting pushed above your preferred prices. It’s best to select a reasonable budget and stick to it.
Tip #2: Don’t Go It Alone
Once you get serious about buying a house, you’ll need to call in the pros. By consulting real estate experts, banks, and lenders, you’ll have a fuller understanding of your loan options and be able to make more informed decisions.
Tip #3: Keep an Open Mind
While you’re out house hunting, keep an open mind and don’t be too stuck to your decision. Because the spring season provides a fast-paced housing market, competition can be fierce among buyers. This means you should be prepared with a list of priorities regarding the size, features, and other aspects of your new potential property. Also, figure out which things you’d be more inclined to compromise on.
While it’s essential to be prepared and have a home purchasing plan, consider out of the box solutions like buying a fixer-upper. Not only can that open up additional possibilities, but it can even save you money in the long run.
At The Novick Agency, we want to make sure that you get the most out of your home buying experiences — and we can help. With our affordable homeowners’ insurance policies, our team can help you maximize your coverage and keep your investment safe and protected.
For more information or to get a quote, contact us today at 267-447-8582!