May 15, 2018
5 Reasons to Buy a House this Summer
The weather is warming up, the days are getting longer, and school is winding down, but the surest indication that summer is near may be the “For Sale” signs popping up around your neighborhood. When buying a home, timing is of the essence, and according to the latest Freddie Mac forecast, NOW is the time to buy. Not only are mortgage rates expected to continue to rise, but summer is the hottest season for home buying.
Here are five reasons to buy a house this summer:
- Higher inventory of homes for sale.
May, June, July and August are known to be the heaviest home-selling months. With a higher volume of homes for sale, buyers have more homes to choose from, which increases their chances of finding the right property. The large inventory offers more opportunities for buyers to identify specific floor plans, amenities and locations. Plus, with more properties for sale, buyers may have more leverage in negotiating prices.
- Better weather for house shopping.
With warmer temperatures and more hours of daylight, the weather is ideal for walking through homes and strolling around the neighborhood to get a lay of the land.
- You have a better shot at buying and selling at the same time.
Because of the competitive summer housing market, selling your current home is more likely. A busier housing market increases your chances of having a seamless transition into a new home.
- School’s out for the summer.
As most parents know, moving during the summer minimizes the disruption in their children’s lives. Plus, your kids can easily attend house showings and be a part of the home-buying process.
- Better conditions for home improvement projects.
If you’re considering buying a fixer upper, purchasing in the summer will give you more hours of daylight to complete the projects that need to be done. Summer also provides more favorable conditions for things like landscaping, exterior painting, pressure washing the decks, and more.
If buying a house is in your short-term plan, act sooner rather than later to take advantage of these benefits. Contact Method Mortgage to begin your path to the smartest way home this summer.