7 Reasons Why Summertime is a Great Time to Buy a New Home!

7 Reasons Why Summertime is a Great Time to Buy a New Home!

There's nothing better than a summertime filled with joyous family gatherings. However, if your family functions have outgrown your current home, maybe it's time to begin the house hunting process and there is no greater time than summer to begin the search for your new home. Here are a few reasons why.

1. There is not going to be a better time for a new home purchase than right now.

Mortgage rates aren't going down any time soon. If you're playing the waiting game to see if mortgage rates go down before you make your next home purchase, you could be waiting a long time. According to Freddie Mac, even though there was a brief respite in mortgage rates, they are again on the rise with rates forecast to average 4.9 and 5.4% in the four quarters of 2018 and 2019.

2. If you have to change school districts, it's best to do it during the summer

If you are moving to a new area for work or another reason, why not do it now while the kids are out of school for the summer. This way, they can start the new school year off fresh with the rest of their classmates, making it a much easier adjustment.

3. Since summer is a popular moving time; you may be able to sell your own home quicker.

If you can get your existing home on the market during the prime summer real estate months, you have a good chance of selling it quickly. The sooner you sell your existing home, the sooner you move into your new dream home.

4. Summertime will provide nice weather for your move.

You won't have to worry about freezing temps, burst pipes, frozen roads, etc. if you do a summertime move. And of course, if you find a new home with a pool, you and your family can take a break from moving chores with a refreshing dip in the pool!

5. It is an easy time to gather neighborhood intel.

If you want to check out a neighborhood before deciding if it's a good fit for you and your family, summertime is a great time to check out the local neighborhood events and attractions. Neighbors will be out and about and you can see all the local activity first hand.

6. You will have a larger inventory to choose from before you make your buying decision.

Prime real estate inventory close to the best school districts generally comes up during the summertime because other people also want to get into their new homes when relocating before the new school year begins. Also, if you find more homes for sale in a prime area, it may give you more wiggle room when negotiating the asking price.

7. Buying and selling simultaneously may be easier in the summertime.

If you currently own a home, of course you must sell this home before you can buy another. Buying and selling can be a big chore but may be much easier accomplished during the summertime real estate market rush. People are more likely to come out to your home showings when it is nicer weather and the kids are out of school and can accompany their parents when viewing potential homes. Buying and selling at the same time can be tricky but with the proper planning, you can pull it off without a hitch.

Whatever your concerns are about buying a home, whether you are concerned about relocating your kids to a new neighborhood or whether you are concerned about obtaining financing, there are options available for you. If you'd like more information, contact us and we'll be glad to go over your options!

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