Three considerations for spring buyers
After a long, cold winter, spring is officially here (despite the dusting of snow on the ground.) While flowers and green grass are obvious markers of the change of season, a subtler indication is springing up throughout Calgary: “for sale” signs! Here are three things to consider when purchasing in the spring
April showers bring May flowers…and water damage: While the market is often inundated with new inventory in the spring, homes can be susceptible to flooding from rapidly melting snow. Keep an eye out for standing pools of water outside the home and moisture along the foundation. If you choose to have the house inspected, a licensed inspector should be able to alert you to any areas of concern that may need restoration.
Inventory: Inventory is traditionally highest in the spring resulting in an influx of new homes on the market. This is great news if you’re looking for a new home, as you often have the pick of the lot. However, keep in mind if you need to sell your existing home, the increased competition can make that more difficult.
Possession Dates: With the traditional school year ending in June, many parents are hesitant to disrupt their children’s academic schedule. As a buyer, this can serve to your advantage if the seller has school-aged kids – especially if you have yet to sell your home. Don’t hesitate to ask for a later possession date. It could turn out to be a win-win for both parties.
Whether you’re purchasing your first home or your fifteenth, buying a house is an exciting time and spring can be a great time to do it. Should you need assistance with the financing side of things, we’re happy to help you find a mortgage that’s as perfect for you as your new home will be.