Buying in Spring
When it comes to buying a home
, timing matters as different seasons
feature different homes and prices. That said, here are a few tips why you might want to buy a home this spring.
First, if you're still renting, spring is usually a good time to switch to owning the home you live in:
Either Way, You Are Paying a Mortgage
There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage - either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity. Via ternullorealestate.com
If you're planning to stay in town a long time, it may be worth your while to make the transition to owning a home.
Home prices are low now, which means they'll only go up in the future
Another advantage of spring buying is that you'll be in a better position compared to the colder months:
Buy Early and Enjoy More Equity
By purchasing your first home in spring, you will be more likely to pay closer to the home’s true market value. This means that as time progresses, and home values and prices start to climb, you’ll be gaining additional equity in your home as a result.
The only thing you can really expect out of the 2018 housing market is that, as usual, it will likely be unpredictable. Ultimately, buying in the spring will help you avoid any potential negative changes that may come into play later in the year. h/t 1magellan.com
Home values fluctuate throughout the year, but spring listings are generally closest to their real value.
Lastly, moving to a new house is easiest when done during spring:
Speaking of moving, you shouldn’t have major concerns over the weather if you are moving more towards the summer months. Sure, it might be hot, but you shouldn’t have to worry too much about a rainy spring or a snowy winter. Plus, the clear skies will help make your move go faster and lessen the chances of damaging any of your furniture or electronics. read more at alcovamortgage.com
It goes without saying that in a place like Fort McMurray, the move is definitely easier in the warmer months.