4 March Why Spring is the Best Time to Buy for New Homeowners March 4, 2024 By Melisa Rana Home Inspection, Home Maintenance first-time homeowner, kids, landscaping, moving, new homeowner, organization, real estate, roof, spring 0 WHY SPRING IS THE BEST TIME TO BUY FOR NEW HOMEOWNERS March 4, 2024 | Home Inspection, Home Maintenance | spring, new homeowner, first-time homeowner, real-estate, moving, kids, roof, landscaping, organization Optimism in the housing market among Gen Zers and millennials is on the rise thanks to mortgage rate drops from the Federal Reserve (per reports at Business Insider). While this is great news for those who have been waiting to jump into the housing market, people who are waiting for lower housing prices are likely to be disappointed as mortgage rates are just one piece of the puzzle. A lack of inventory and high demand mean that housing prices aren’t likely to see a substantial change anytime soon, so when is the right time for a new homebuyer to start looking? For many reasons, it might be this spring! The Housing Market is Seasonal It’s no secret that the housing market is largely seasonal, especially in regions that see a large amount of snow. The hassle of moving during inclement weather obviously isn’t ideal, plus homebuyers can have an inaccurate view of what the home and its neighborhood even looks like if it’s covered in snow. Because of these factors, warm weather tends to bring the busiest time of the year for real estate agents - but this doesn’t necessarily mean summer is the best time for everyone to buy a home! Since more buyers are looking during the summer, their offers need to be extra competitive if they want to close, which can often leave them at a disadvantage compared to the seller in negotiations. Instead, buyers who hit the market earlier can benefit from increased inventory (as sellers prepare for the summer rush) without having to deal with a competitive market. Spring is the Best Time to Meet Your Home Saving a bit on the closing price isn’t the only reason why spring is a great time for buyers, though. When in the process of closing on a house, a home inspection is one of the most important pieces of leverage a buyer can get, as they get to know the condition of their new home and set a maintenance plan moving forward. With the inspection in mind, there may be no better time for a home to get inspected than in the spring. Again, in areas that experience heavy snow in the winter, spring marks the first time that property inspectors can safely access the roof and evaluate its condition. Purchasing a home in need of a roof replacement can lead to trouble securing insurance, along with major costs for homeowners. Spring is a perfect time to see how the roof held up over the winter, and how it deals with heavy rain. Learn more about how to prolong the life of your roof right here! Water intrusion is one of the top concerns for home inspectors because the damage excess moisture can cause can lead to mounting issues throughout the home. Spring is also a great time to see how the driveway and sidewalks have settled and whether any drainage or landscaping issues might be a concern. Buying Early Means More Time to Feel “at Home” Moving into a new home is a major task even in the best weather, but settling in during the spring just might lead to the smoothest transition for families. As parents know all too well, the beginning of the school year can feel chaotic, as everyone gets busier while adjusting to their new schedules. Families who move into their new homes during the summer have a limited amount of time to become comfortable and organize themselves before the rhythm of school dominates their attention. Families who move in earlier have a better chance to establish an organization system that their kids will remember, reducing clutter, cutting down on messes, and keeping their home in better condition for company. This extra time isn’t just a benefit for the kids though! Integrating into a new neighborhood can be tough, but new homeowners who move in the spring will have the benefit of meeting their neighbors when they’re most likely to be outside. Homeowners who have all summer to build relationships will have a greater chance to feel comfortable in their new home and become a part of their new community. When closing on your new home, contact NPI to identify any maintenance issues and equip yourself with the best information.Call NPI before you buy! Comments are closed.