Hopyard Farm by Hazel Homes
5320 Weems Drive
5320 Weems Drive
4738 Wensel Road
Posted on May 28, 2015
You might be wondering:
Is summer really the best time to buy a house? Many people think of summer and immediately think of planning a beach vacation, not home buying.
The real estate market can be tricky, and knowing the right time to buy gets you the best house available for the lowest price. With dozens of factors coming into play, you need to consider every angle before beginning your search.
People typically start the home buying process during the spring. When summer arrives, the home buying mindset has died down, leading to a quiet real estate season.
Here are a few reasons to take advantage of the summer slump and consider purchasing a home this summer.
When spring turns the corner and summer is on the horizon, homes start to look their absolute best. Grass grows thick and green, lush hedges dot the landscape, and the entire property transforms from a barren, slushy mess to a beautiful and cheerful estate. By visiting a home at its most appealing, you get to see the potential of the property and decide if the work necessary to improve is worth the time and money.
Without the excuse of fall and winter weather, sellers cannot sweep any needed improvements under the rug. With excellent weather for landscaping, leaves matting the lawn and broken shutters give you plenty of reasons to start negotiations on pricing.
Homes typically hit the market at the beginning of the year. Spring months are the busiest, with houses and buyers flooding the real estate market. This flurry of activity reaches a bursting point, which is when most of the reasonable houses have been bought.
However, summer marks the point at which sellers of overpriced homes begin to panic. Houses that were marked too high and did not sell start to drop in price. Sellers that desperately want to sell open the floor for bargaining and negotiations. This marks the perfect time for buyers to come in and get a great price on gorgeous homes that may have previously been out of their price range.
The best part of shopping for a new home during the summer?
The lack of competition.
With an open market, buyers can take their time and comfortably deliberate without worrying that a dream house will be snatched out from under them.
A hectic spring market means a relaxed real estate experience during the summer months. At this point, most buyers spend their time thinking about summer getaways and 4th of July plans. With cookouts and family vacations occupying most buyers, there is less of a rush to make an offer on a home.
Conversely, sellers panic because of vacations on the horizon. These upcoming trips instill a sense of urgency in the buyers and their wish to finish the stressful business of home selling helps you get the best deal possible.
The summer months offer buyers a better chance to get to know the neighborhood. During winter months, residents stay indoors and hunker down with family. The neighborhood appears dull and uninviting to homebuyers.
When summer arrives, residents are more likely to go outside and enjoy the neighborhood. Homebuyers have the chance to meet and talk to some of the neighbors. Think about it: Most homeowners do not complain about their house, they complain about their neighbors.
Getting to meet potential neighbors lets you make a quick judgment call about whether or not you can see your family getting along with the people next door. Although not a perfect system, it beats simply hoping that you bought a house beside reasonably nice people.
Summer vacation provides the opportunity to bring the kids along and get additional feedback from the entire family. Parents sometimes tend to overlook simple things that could snowball into disastrous problems. Plus, the kids can help with the packing and relocate to a new school without the adjustments needed for a mid school-year move. A summer move means less worry not just for you, but for the kids, as well.
Although you may want to leave the kids at home for the first few home visits, bring them along before making an offer to hear what they have to say about it. Buying a home is a huge investment; you should get every family members opinion to make an informed decision.
A summer move provides all hands on deck for unpacking and decorating your new space. Plus, it gives your family time to settle in before school starts.
Whether you’re a first-time buyer or an experienced real estate guru, knowing when to shop for a home potentially saves you thousands of dollars. The famous summer slump gives you time to make a decision before the kids return to school. Remove some of the stress of home buying by starting your search in the upcoming summer months.