Spring is the busiest time of year for both home buyers and sellers. Once that long winter finally breaks, families start house hunting, visiting properties that have finally thawed after months of inclement weather. Once you’re on the hunt for the perfect home, there are a few things to keep in mind during this time of year.
Prepare for a Competitive Market
Because spring is the most popular time of year for buying and selling homes, you should prepare to enter into a highly competitive market this time of year.
Inspect the Property
If the idea of pouncing on a property quickly gives you pause, keep in mind that you can still make an offer and have an inspection done before the deal goes through.
David Steckel, home expert at home care platform Thumbtack, says buyers should pay special attention to the outside of a home, where water problems can be apparent this time of year.
“It’s important to thoroughly inspect a property before making a purchase,” Steckel says. “Have a professional inspect the home before purchasing and be sure to look out for water damage, roof damage, drainage problems, foundation issues, and pest damage. These are important to catch early on, as these repairs can be costly and affect the condition of your home over time.”
Of course, most of these potential problems should come up in a professional home inspection. And while certain aspects of the property might be more apparent or visible in the spring vs. winter season, for example, you’ll want to make sure whomever you hire is doing a thorough inspection regardless of the time of year.
How to Prepare to Sell
If you’re selling your home in the springtime, Steckel suggests sprucing up your exterior spaces. Potential buyers will be thinking of hosting summer cookouts and pool parties this time of year—call out the great outdoor features of your home to help your listing shine. If your outdoor space is lackluster, do what you can to spruce it up and highlight its potential.
“Homeowners can start by boosting their curb appeal, like painting the exterior of their homes, freshening up their landscaping, and completing outdoor repairs to their porch and deck, garage door, siding, and fence,” he says.
As you stage your home, Steckel suggests deep-cleaning your grill and porch furniture so everything looks sharp.
Why You Might Want to Skip the Spring Market
Not ready to buy or sell in time for this spring season? Don’t stress.
Brandon Snow, executive director at Ally Home, says that while there might be a ton of inventory on the market each spring, that doesn’t mean you’re missing out on the best time of year to buy or sell.
“While spring home buying has its benefits, buying a home during the fall and winter months can have a flurry of advantages—including less competition and faster closing time,” he says.
Snow says the best time to buy is often September or October.
“That’s when inventory is still relatively high, but prices are moderating, especially for starter homes,” he says. “For sellers, their homes might’ve been on the market all summer with no luck, and they may be antsy to make a deal.”
And once fall ends, inventory might drop, but sellers will become more and more eager to make a deal.
“You’ll likely have a smaller crop of houses to choose from, but sellers could be more motivated to make a move for end-of-year tax-break reasons,” Snow says.
However, stats show that you’ll likely pay more for a home in the future if you wait.
“Prices have grown (year over year) for the better part of the last 10 years,” says Stjernholm. “Oftentimes I see buyers say they’re going to wait longer to buy, but the result over the last decade has been they only end up paying an even higher price than when they first started looking.”