Buying June 19, 2024

Buying a House in the Summer

Should you consider buying a house in the summer?

Are you in the process of searching for your new home? If so, you might be wondering if it is a good time to start your search in the warmer months. Is summer a good time to house hunt? Let’s consider a few pros and cons when looking to buy during the summer months. 

Advantages of buying a home in the summer.

  • Often times, there is an increase of homes on the market during summertime. With more inventory during the summer, you have more home options to choose from.
  • Sellers may be more motivated to sell their home quickly if they are looking to move before the start of the school year. These sellers may be willing to negotiate on price or contingencies.
  • Summertime means better weather and longer daylight hours. This can make a difference when going out and viewing homes, making it more accessible and effective.

Disadvantages of buying a home in the summer.

  • An increase of homes on the market may lead to more competition. Competition and higher prices may result from an increase in buyers.
  • The increase of buyers often can result in a decrease of days on the market. With homes selling faster, there may be less room for negotiation. Sellers also might feel less of a need to negotiate due to the competition.
  • Due to nicer weather, moving companies may be in more demand during the summer months, raising moving costs overall.

Ultimately, buying a house during the summer months will depend on your individual circumstances and preferences. If you want to avoid competition and a potential bidding war, you might want to wait for a quieter season like winter.

Successful tips to help get you started. 

  • Get pre-approved for a mortgage before you start looking. With a pre-approval letter and a idea of how much you are able to spend, you can narrow down your search and avoid homes that are above your budget.
  • Be flexible, but ready to move quickly. With homes selling quickly in the summer, it’s in your best interest to be able to move quickly with an offer. Flexibility about when to move will improve your odds with sellers. 
  • Work with an experienced real estate agent who has local knowledge and negotiation skills. You’ll want to utilize the services of an agent which will make the house buying process easier and less stressful for you.

Find a good real estate agent. 

Talk to a qualified real estate agent to help determine if buying is the right step for you. They can help ​​​​​​​you find suitable properties if you decide to take that step. An experienced real estate agent can provide valuable insights into the local market, considering your needs and wants when purchasing a home. With professional guidance, you can make informed decisions that align with your long-term housing goals. At ERA First Advantage Realty, we know experience matters. Connect with a local ERA agent today!