What the Spring Real Estate Market Means to You

By: Mayhew Gibbs Property Group

What the Spring Real Estate Market Means to You

Tags: Spring Market, Real Estate, Ottawa, First time homebuyers

Often you will hear realtors or experienced homeowners say that the spring real estate market is a hot time to buy or sell, and it is! Being prepared for this and understanding what this could mean for you is incredibly important for setting yourself up for success. Here are 5 tips for the spring real estate markets boom, whether you are a prospective buyer or seller.

1. Get a Realtor

It is incredibly important, especially in a spring market boom, to have a Realtor working for you, because they will be able to get you the best possible deal. The market is incredibly competitive during this time and there may be higher price tags as well that you simply cannot negotiate on your own. Even simple things like inspections, staging and so forth can be taken care of through your realtor and that takes the stress out of selling or buying a home. If you choose to sell or buy on your own then you could be risking getting a much worse deal or settling for a property that will cost you thousands in unforeseen expenses.

2. Know What Your Plan Is

Something as seemingly simple as buying a new home can become incredibly complicated and stressful when you need to consider selling your current home at the same time. After selling, details like if you will be staying with family between homes or renting are very important and your Realtor is going to need to know going in what your plans and expectations are. Your Realtor is there to prepare you and help you finalize those plans into realistic steps.

3. Know Your Local Spring Real Estate Market

Understanding how the market is behaving both for spring and in general is incredibly important in making sure that you are positioned to take advantage of it to the fullest. Spring is a unique time of year for real estate because people are getting excited and there are a lot more properties available to buy, and more people looking to start fresh by selling their homes too! Talk to your Realtor about what to anticipate for the spring market in your neighbourhood and the neighbourhood you desire to be in.

4. Clean & Organize

Of course you want to make sure your home is as ready for purchase as soon as possible. If you only start cleaning and organizing when there is an open house around the corner then it is going to be a massive and intense job that is going to cause stress. Make sure to start cleaning and organizing your home before you list it. You’ll want to make sure the pictures taken represent your home in the best way and you’ll be less stressed too. This is also a good tip for people looking to buy a new home. You may be surprised to learn that you need less or more space than you had previously been planning. This could affect what kind of home you may be looking for with your realtor.

 

5. More Choices & More Competition
During a spring market you may find that there are increased choices for homes. Actually buying a new home may be more difficult however, because there is more competition than you might anticipate. Your Realtor will be able to set your expectations realistically for this, but making sure that you are ready to sign by getting everything in order is best. From where you will live, your mortgage and legal intricacies, as well as making sure you’ve got the money ready will make you a more attractive buyer for your dream home. For sellers, this means that you may have multiple offers and will need to make yourself available to have multiple showings for your home in order to get the best price. This also means that you need to be ready to sell and have your “ducks in a row” before you get those offers.

 

Ultimately, the real estate market can be unpredictable especially for those not trained in what to expect. It is realistic to say that spring brings out new buyers and sellers looking for a fresh start. Homes look more appealing, people are more willing to travel to open houses, and offers are plentiful. Having a Realtor is the key to making sure that your goals for spring are met because they are there with you every step of the way!

 

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