Winter is finally coming to a close, which means the hustle and bustle of the real estate market is on its way. Spring will be a very busy time for everyone, but especially real estate agents and potential homeowners. It’s common knowledge that spring is the time to buy a house, but why is that so? What makes spring prime time for real estate? We aim to answer this question and illustrate the advantages of buying a home in springtime.
The exact months for the spring home-buying season vary from market to market. Most typically, the spring buying season begins around April and lasts until June. In Gainesville, the market can start heating up as early as February–or even late January. Determining the best time for someone to buy a home depends on the individual and their local market. Most people choose spring because it bests suits their interests and timelines, but for some, a late fall or winter purchase may be more desirable. In general, however, spring means more homes are available, giving home buyers plenty of options.
- The first reason spring is one of the best times to buy a home is because of the overall demand, and potential supply, of homes that have gradually built up during the preceding months. Buyers have been waiting out winter and are finally ready to see what the market has to offer. Sellers are similarly getting around to putting their home on the market, in hopes of taking advantage of the seasonal demand and competition.
- Another factor that causes increased business in the real estate market during spring is individual timeframes and comfortability. Many potential buyers feel financially flexible during the spring. There are fewer surprise expenses, people have recovered from the hefty holiday bills, and most buyers are expecting some form of a tax return. In addition, peoples’ personal timelines often force them to buy during the spring. Some families want to prioritize being fully moved into their new home before the next school year starts. This means they’ll probably have to start the process in early spring.
- The final major reason people buy more homes during the spring is because of the seasonal feeling of rejuvenation. As juvenile as it may sound, the return of more reasonable temperatures entices people to pursue fresh starts–both from a consumer and lifestyle perspective. The motivation to introduce change in one’s life is strong, and many people act on that motivation by purchasing new clothes, a new car, or even a new home.
So what can you do to get ahead of the curve? Don’t let spring catch you by surprise! There are plenty of things you can and should take care of before diving into the busiest real estate season of the year. Consider these helpful tips to make sure you’re ready for the spring rush.
- Have a well-defined plan
- Make sure you have a good credit score
- Save a 20% down payment
- Have extra cash available in case of an emergency
- Be prepared to pay list price
- Ensure you have a reliable income
Are you looking for your dream home this spring? Let Thomas Group Realty help you! Explore our website or contact us at (352)-226-8228.