Is Spring A Good Time To Buy And/Or Sell A House?

We’re nearing the end of February now, which means that spring is really only a matter of weeks away… so for those of you considering putting your house up for sale or who are looking to buy in the near future, you might well be asking yourself whether spring is a good time to make a move on the property market or not.

Well, in short – yes! 

Spring is a fantastic time to think about buying and selling, with property listings increasing (so lots of choice available to house hunters), sellers motivated to do deals before summer arrives and viewing conditions more favourable thanks to the uptick in the weather.

Buying a house in spring

Those of you in a position to buy over the next few months should be prepared for higher levels of competition, however, since more buyers will be present. This can mean sellers receive multiple offers and you could find yourself in a bidding war, which will drive prices up.

Homes also sell a lot quicker at this time of year and your dream home may be snapped up in a matter of days, so be prepared to move swiftly if you find what you’re looking for.

If you’re able to wait, however, and your main aim is to find a cheap property, waiting until winter to move is perhaps your best course of action.

Selling a house in spring

For sellers, you’ll find that buyers are more active at this time of year and you’ll benefit from increased curb appeal as your garden starts to bloom once more. Families are also a great marketing opportunity, since they’ll want to relocate before the new school year starts.

Consider listing your property between mid-February and June, and you may well find that it sells quickly – and for a really good price.

On average, it takes around eight weeks to agree a sale on a property, but this will also depend on your local housing market and what price your house is on for. With home valuations, be prepared to lower the price if demand is looking slow.

You should expect the entire process to take around five months to complete on average, so factor this into your plans… and bear in mind that it can take longer if you’re in a chain. 

It is often easier to separate the buying and selling process, giving you more time and taking the pressure off somewhat.

Regardless of the time of year, however, if you’re not ready to sell your house – just don’t! Rushing this process could mean you make some very expensive mistakes.

Whatever your plans and whenever you intend to make them, if you need any mortgage guidance and advice, get in touch with the BR Needham team today.