Category Archives: right time of year to purchase a home

Is spring the best time to buy a home?

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brick home for sale in spring“When is the right time to buy a house?” “Is spring the best time to buy a home?”  When temperatures rise so does the interest from home buyers—and the amount of questions about when is the right time to purchase a new home.  The answer to this question is not as cut and dry as it seems (or as most buyers want to hear).  Here is the complete answer for anyone looking for the ideal time to purchase a new home. (If you have any other questions, we’d be happy to answer those questions too.)

Pros

Buying a home in spring comes with a list of advantages.  Traditionally, more homes come on the market in spring so buyers have more homes that fit their criteria.  In Wisconsin, it’s easy to see why: spring weather is better (translation: not snowy and freezing) so more buyers are willing to venture out to find a new home.

Spring is also the ideal time for families who want to be in their new home before the new school year.  Starting the home search spring gives families ample time to put their existing home on the market, close on the new home, and register in the new school district before the first day of school.  When kids are involved, it’s easier for everyone in the family when they don’t have to bundle up before every home showing.

For home buyers, there is also some reassurance in shopping for a new home in the spring.  It’s easier to see the home you are touring (including the blemishes) when it’s not covered in a blanket of snow.

Cons

Because spring is such a hot time for home buying and selling, market prices tend to be slightly higher simply because of supply and demand.  Because there is more activity, there tends to be more competition for a property.  Put simply, more buyers mean more offers on a desirable property and a higher purchase price than during fall or winter.

Takeaway

Your answer to this question is going to depend on the circumstances and reasons you are purchasing a new home.  If you want to be in a home in a new school district, the time to buy is spring or summer.  For a shopper looking for the ultimate bargain, fall and winter are the best times when inventory is low and the competition is minimal.  If you want a lot of options, spring is traditionally when a lot of new homes are put on the market.  To find out exactly what the state of the local market is right now, contact a local real estate agent to find out when is the best time to buy a home in your area.