How Many Homes Should You Tour Before Buying?

If you are beginning the home-buying process, you may begin to wonder how long it will take until you find the perfect home for you and your family. The answer to that varies due to different factors. Check out these three factors on how many homes you will tour before buying:

The State of the Market

A buyer's market is when there are few houses for sale and the ones that are available, sell quickly. This creates a higher demand for houses as people scramble to buy what they can. If the location you are considering seems to be a buyer's market, you may be competing with multiple buyers for the same house. If you are hesitant with a house because you think a better one is out there, someone else may swoop in and sign a contract. This leaves you with fewer options and a long time trying to find a house. If you find yourself in this situation, you will probably need to move as quickly as possible if you want to secure a home.

Knowing What You Want

If you are specific about the type of house you would like, then it is usually much easier for a real estate agent to suggest properties to tour. For example, if you insist on living in a house with a backyard, they will refrain from suggesting a high-rise condo. If you are more open to various options, you have a bigger playing field, and it may take some time to sort through the selection. Before you begin your search, take some time to really consider what you are looking for.

Your Willingness to Compromise

Home buyers usually have a list of things they absolutely need to have in their potential home. However, all of the amenities you are looking for might not be in the right location or fit within your budget. For example, a three-bedroom house a short drive from downtown may cost thousands more than that same type of house further away. If you are willing to compromise on what you want, you can find a home much quicker. 

Finding the perfect house for you can take weeks, months, or even longer. To shorten this length of time, know what you want, and be willing to compromise. Soon, you will be able to find the home you have been dreaming of and begin life as a homeowner.


When is the Best Time of Year to Buy a Home?

Spring may be the most popular time of the year to buy a new home, but is it the best time of year to go home shopping? While the best time to browse real estate is when you need a new home, there are advantages to shopping in each season. As you prepare to buy a home, learn what to expect when home shopping in spring, summer, fall, and winter.

What to Expect When House Hunting in Spring 

As winter ends and weather starts to warm up, people emerge from their houses. The same flurry of activity holds true for house shopping. Suddenly, there are many more homes for sale on the market, and many more interested home shoppers. 

Sellers who took their listings off-market during the winter may renew listings now. Nice weather means homeowners can make improvements, so in the spring real estate market you're likely to see high-quality homes listed at market-rate prices. 

More inventory is offset by higher competition for premium homes and higher prices. Sellers are optimistic that they will be able to sell their home before summer, so they may be less likely to accept a lowball offer. 

What to Expect When House Hunting in Summer 

The summer market is similar to the spring real estate market, except that fewer houses will come online. Homes that were listed early in the spring and have not sold may see their prices decrease; sellers may be more likely to compromise on price now. Since there are still new homes coming on the market, there are lots to see and do. 

Many buyers want to close on homes for sale before summer, so the children can start at a new school. As summer stretches on, expect to see fewer homes for sale and less competition for premium properties.

What to Expect When House Hunting in Fall 

The real estate market starts to slow down in fall. With children in school, families who were considering a move may put it on the back burner since the timing is no longer ideal. This means fewer crowds at open houses and an easier time getting into showings for listed real estate. 

You will notice fewer new listings of homes for sale; here again, prices may drop. At this point, home sellers can become extremely motivated to sell their homes before the end of the year. It's bargaining time! 

What to Expect When House Hunting in Winter 

In areas with four seasons, fewer people list their homes for sale in the winter. Those who do put their houses on the market in wintertime tend to do so because they need to sell their home quickly and they cannot wait for an ideal real estate market. Now you really have a buyer's advantage. The caveat here is that homes on the market now may be in fair condition and require a lot of work: fixer-uppers, in other words. Don't let that deter you from house hunting, because you never know what you will find. There may be a diamond in the rough.

Ultimately no matter what season you decide to look for a home, there are pros and cons. When you understand what to expect in each season, you can evaluate properties, understand trends, and make the right decision with less stress.

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.