Spring is one of the busiest and most exciting times in the real estate market. As the winter chill fades and the days grow longer, more homes become available, and buyers flood the market looking for their dream home. If you’re thinking about buying a home this year, March is the perfect time to kick off your search. Here’s why starting early in the season can give you a competitive advantage.
1. More Inventory Hits the Market
One of the biggest advantages of house hunting in March is the increase in available homes. Many sellers prefer to list their properties in the spring, knowing that buyers are more active. By beginning your search now, you’ll have a wider selection of homes to choose from before competition heats up even more in April and May.
To take full advantage of the new inventory:
- Set up alerts for new listings that match your criteria.
- Work with a real estate agent who has access to pre-market and coming-soon listings.
- Be prepared to tour homes quickly to avoid missing out on a great opportunity.
2. Get Ahead of Peak Buying Season
While spring is a popular time to buy, March is still early enough in the season that competition isn’t yet at its peak. As April and May roll around, more buyers will enter the market, leading to more bidding wars and higher prices.
By starting your home search in March, you’ll have the chance to:
- Find and secure a home before the competition intensifies.
- Potentially negotiate better terms with sellers who are eager to close quickly.
- Avoid the stress of rushing through the buying process during peak season.
3. Favorable Mortgage Rates and Loan Options
Mortgage rates fluctuate throughout the year, but historically, the early months of spring can offer competitive rates before demand spikes. Getting pre-approved for a mortgage in March allows you to lock in a rate before potential increases later in the year.
To prepare for a smooth loan approval process:
- Check your credit score and work on any necessary improvements.
- Gather all required financial documents, such as tax returns, pay stubs, and bank statements.
- Connect with a trusted mortgage lender to explore your loan options and secure pre-approval.
4. Better Weather for Home Shopping
Winter home shopping can be challenging due to shorter daylight hours, bad weather, and snow-covered landscapes that hide important details like roof conditions and yard maintenance. By March, the weather is improving, allowing you to get a clearer view of a home’s true condition, including landscaping, exterior features, and natural lighting.
Additionally, better weather makes it easier to:
- Schedule home tours without weather-related delays.
- Inspect the property thoroughly before making an offer.
- Get a feel for the neighborhood, including parks, schools, and local amenities.
5. More Time to Close and Move Before Summer
If you start your home search in March, you have plenty of time to close and move before summer. This is especially beneficial if you have school-age children and want to settle into a new home before the next academic year begins.
A spring closing also gives you:
- Time to handle moving logistics, such as selling your current home or giving notice to your landlord.
- A chance to plan home improvements or renovations before peak summer demand.
- The ability to enjoy your new home during the best months of the year.
6. Increased Seller Motivation
Many homeowners who list their properties in March are eager to sell quickly so they can move before summer. This can create opportunities for buyers to negotiate favorable terms, including:
- Closing cost assistance.
- Flexible closing dates.
- Potential price reductions for motivated sellers.
Working with an experienced real estate agent can help you identify motivated sellers and craft strong offers that stand out in a competitive market.
7. Avoid Last-Minute Homebuying Stress
If you wait until late spring or summer to start your home search, you may find yourself in a time crunch. Rushing to find a home, secure financing, and close before your desired move-in date can be overwhelming. By starting in March, you can pace yourself and make well-informed decisions without unnecessary stress.
March is the ideal time to begin your homebuying journey. With more inventory hitting the market, less competition than peak season, and favorable mortgage rates, you’ll be in a strong position to find and secure the perfect home.
If you’re ready to take the next step, contact Mortgage Financial Services today to get pre-approved and start your home search with confidence. Let’s make your dream home a reality this spring!
SPONSOR MFS, NMLS ID 43021 | 1900 W. KIRKWOOD BLVD., SUITE 4300C, SOUTHLAKE, TX, 76092 Mortgage Financial Services, LLC is an Equal Housing Lender. NMLS 43021 (www.mortgagefinancial.com) l 817-601-9010 Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits.
