The 5 Key Advantages of Buying a Home This Spring

Spring is upon us and with it brings the most popular time of year for real estate in Edmonton – and for good reason! If you’ve been thinking about buying a home in the capital region this spring, here are five key advantages to look forward to.

1. It’s a Buyer’s Market 

In real estate, a buyer’s market refers to when the number of homes available on the market outweighs the current demand – ultimately resulting in lower sale prices. And, although spring typically sees more Edmonton homebuyers than any other time of year, this buyer-favouring trend is expected to continue. Other advantages of a buyer’s market include:

• Less Competition
• More Room For Negotiation
• Fewer Bidding Wars
• More Buyer Concessions
• Etc.

2. More Homes to Choose From  

Combine the spring selling season with a buyer’s market (mentioned above), and what do you get? A massive surplus of inventory. MLS listings will likely see an uptick in newly listed single-family homes especially, as families are more inclined to time their home sale with their child’s school year. Here again, as a buyer, you may also look forward to more competitive pricing among sellers (and therefore a better price on your new home), increased room for negotiations (i.e. repairs, closing costs, etc.) and much more.

3. See What You’re Getting Into 

As the snow slowly starts to dissipate, you get to see what’s really going on with a home. After a long Edmonton winter especially, home-related problems tend to make themselves more apparent. This might include warped, cracked or missing shingles (a sure sign of roof damage), cracks in the foundation and/or siding, shoddy or neglected landscaping, cracked pavement, water ingress and much more.

Note: Partnering with an expert Edmonton REALTOR® will prevent buyer’s remorse down the road

4. Low Interest Rates 

Yet another great reason to buy this spring? You’re likely to save thousands in interest over the lifetime of your mortgage loan. With Canada’s interest rates maintaining a steady low, now is a great time to buy a home. Edmonton home buyers will benefit from lower monthly payments and the ability to pay down their mortgage principal much sooner.

5. Move With the School Season 

Spring is a particularly good time for families to hit the market. Purchasing at this time doesn’t just ensure you’ll be settled prior to the start of another hectic school year, but it also guarantees you won’t be stuck packing and moving when summer vacation time is at a premium. Not to mention, more inventory on the market will broaden your choice of Edmonton neighbourhoods, and therefore schools (and additional amenities) for your children.

Are you thinking about buying a home in Edmonton? Get the help and advice you need by taking advantage of our FREE Buyer’s Resources. These include: 

• Our Buyer Guide – Everything you need to know about the home buying process from start to finish
• Six Essential Tips That Make Home Buying More Affordable
• How to Avoid Paying Too Much
• Our Homebuyer’s Blog
• And more!

Photo credits: Shutterstock.com

Categorised in: Buying a Home

This post was written by Terry Paranych Real Estate Group