Site icon Alison Clay-Duboff

Five Reasons to Buy a Home During Housing’s Hottest Season

Summer is the most popular time of the year to buy and sell a home. So, if you’re thinking about starting your home search, your first instinct might be to stay away and wait for the weather—and the market—to cool down. However, Realtor.com points out five distinct advantages to entering the marketplace during housing’s hottest season.

1. Prices aren’t necessarily higher

Home prices do usually peak from June through August. And it’s a seller’s market in most areas. But other forces playing a major role in a home’s asking price include the number of similar homes also for sale in a given area, interest rates and the job market.

2. Inventory is broader

You wouldn’t buy a car from a dealer with only two models for sale, so why limit your options when it comes to choosing a house? The open-plan kitchen you’ve been yearning for or a home in a top school district is much more likely to pop up in a busier marketplace. In some less competitive markets, knowing that there are plenty of homes for sale can give you more leverage for price negotiation, and peace of mind knowing that if you have to walk to away, another home will be just around the corner.

3. Buying and selling at the same time could be easier

If you need to sell your current home before you can buy another, you likely will have an easier time during the summer. Rather than getting trapped with two mortgages, you could have a more seamless transition in a busier market. But, remember, these transactions take time, so if you’re planning on pulling off a double act, get ready as soon as possible so you can capture as much of that golden season as you can.

4. School’s out for summer

Any parent can tell you why this factor is crucial. By waiting until summer to make your move, you can minimize disruption to your kids’ lives. And, if the sellers have kids, they also might be trying to cement a sale in time for the new school year—and likely will be more motivated toward the end of the season.

5. You’ll get to know the lay of the land

It’s easier to conduct a little detective work on your potential home when the weather is nice and the days are longer. Trees and flowers are in full bloom, so you’ll get a better idea of your prospective new yard. You can step out on the back porch and envision what it will truly be like to live there and host your barbecues. Plus, everyone’s more active, so you’ll get a better feel for the community.

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