With the chilling winter months nearly over the spring sun will begin to thaw out both mother nature and the property market.

So what is it that makes the spring property market so different from the rest of the seasons? Below are some of the opportunities and challenges that come with buying during the spring season.

The opportunities of options 

Typically the property market is flooded with inventory in spring with more property on the market than at any other time of the year. For those looking to buy this may offer some great property options. However, this can also lead to stiff competition amongst prospective buyers. Due to the spring sale frenzy, it’ll be particularly important to have everything organised, signed off and ready to go so that you have the best chance of getting in first and securing your dream property. Furthermore, due to the number of properties on the market and open house viewings you could spend your weekends racing around from one place to the next wasting your time on properties that aren’t suitable. It is important to have a clear understanding of what you are looking for in a property, prioritise your needs and wants and do your homework on the suburbs you are interested in. It’s a good idea to make a checklist that you can tick-off after viewing a property. After a few viewings they may all begin to blur! You could add criteria like proximity to schools, work, local shops and public transport to your checklist. 

What about the other seasons?

Let’s take a comparative approach, in general there are fewer houses on the market during the colder months, while this may lead to less buyer competition you’ll also have less options and properties to choose from. When it comes to finding your dream home the more options the better! So waiting till the warmer months may be worth it. However, summer can also have some disadvantages. While summer is a pleasant time to look for a property, the summer season can mask some serious problems with your potential new home. Summer weather can hide moisture, insulation, mould and heating problems. Furthermore, the physicality of relocating during the scorching heat while also preparing for the Christmas season doesn't sound particularly enjoyable, does it?

It’s the little things that make a difference

Also, let's think about the practical aspects of moving. We all know that moving is a lot of work. Multiple trips with boxes from your old house to the removalist truck, the car boot or your uncle’s trailer. But, what could make this experience even less enjoyable? Doing it in Winter! With buying and moving in spring you’re much more likely to have the weather on your side and once you're officially moved into your new property you’ll be able to clean, organise and nestle in with the beautiful spring season in the background. Ultimately clear skies and warmer weather makes for a far more enjoyable moving and relocation experience.

If you are looking at buying a property, speak to our friendly team of mortgage brokers at ActonLendingSolutions.

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