Why Summer is a Great Time to Buy a New Home
August 10, 2017
Drive around most neighborhoods this time of year and you’ll probably see many “For Sale” signs in front yards. It’s true that summer is the most popular time of year to buy and sell a home. And that may be reason enough for you to avoid the crowds and wait for the weather and market to cool down before starting your search for Columbus GA new homes.
But if you choose to wait until later in the year to buy, you may miss out on a golden opportunity to snag the home of your dreams. Here are a few reasons why it pays to shop during housing’s hottest season
Prices are still negotiable – Many people believe homes sell for more in the summer and less in the winter. But it’s not true. Even though home prices tend to peak between June and August, and most areas are in a seller’s market, there are other factors that affect a property’s asking price. These factors include how many similar homes are for sale in a certain area, interest rates and the job market.
Real estate experts say what it is true is that there are more homes for sale in the summer than in the winter, so there are more sales during this time of year.
Broader inventory – Buyers who are looking for specific floor plans, amenities and locations have more choices available to them during the summer because more homes are for sale. This can work to your advantage in less competitive markets, because you can have more leverage for price negotiation. Plus, you don’t have to stress if you decide to walk away from a deal, because you can keep shopping to find the right home for you.
Buying and selling together may be easier – Many home buyers need to sell their current house before closing on a new property in order to avoid paying two mortgages at the same time. That’s why summer is a good time of year to put your house up for sale. You’ll have a better chance of getting an offer on your current home, so you can buy the new house sooner. Keep in mind that these transactions take time, so get your property listed as quickly as possible to take advantage of the summer sales season.
School’s out – Home buyers who are parents know that summer is the perfect time to find a new house. The kids are out of school, which makes it easier to bring them along to showings. And if sellers have children, they may be more anxious to make a deal as the summer wanes, so they can close the deal before school starts. You may also find there’s less competition when making an offer because some buyers have stopped looking.
Get a feel for the neighborhood – Warm summer weather and no school means more people outside in their neighborhood. This is good news for home buyers because you can get a better sense of who’s living in the neighborhood, including how many kids live there, and a rough idea of their ages, such as grade schoolers or teenagers. Just watch out for any red flags, such as a giant cellphone tower you couldn’t see through the foliage of the trees.
Ready to start your search for Columbus GA new homes? Contact Rose Anne Erickson Realty today at 706-257-1776.
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This post was written by Rose Anne Erickson