With Memorial Day well in the rearview mirror and Independence Day just around the corner, summer is in full swing. As the mercury rises, more home shoppers start looking and more homes are put on the market. All of that means that the summer selling season is heating up, and if you are looking for a new home then now is the time!
Here are some of our tips for house hunting in the summer heat:
There’s More to Choose From During the Summer
It goes without saying that with so many homes on the market, there will be a much broader inventory for you to shop from. The summer months see more home sales by and large than any other season of the year. This means for you as a buyer that there won’t be a shortage of homes on the market, but that doesn’t mean they’ll be around long.
Generally, homes sell faster during the summer months. In addition to the added volume of homes on the market, there is a considerable amount of inventory turnover so if you’re looking to buy, make sure you’re ready when the opportunity is right.
Homes Aren’t Necessarily More Expensive
One of the common misconceptions of buying a home in the summer is that homes are more expensive, but this isn’t necessarily the case.
On one hand, sellers can price homes higher, but that doesn’t mean they’ll sell higher. While, yes, listing prices may be higher in the summer months than the same one in the winter months, the sales price will likely be almost identical. The good news for you as a buyer is that you have a great deal of bargaining power to negotiate down from the listed price.
People Are Busy During the Summer
There’s no doubt about it, people get busy during the summer months. Families with children are especially busy with the kids being out of school and parents being able to cash in on time off for vacations, camps, and everything in between.
You’re probably just as busy, but if you’re focusing on buying a home then you may be beating other busy families to the punch by putting in a little extra time and effort into your search. Not to say you shouldn’t enjoy your summer time off with the rest of your family, but by putting in some quality time to hunt for the right house you may be able to find a deal while others are snoozing.
Mortgages Are Hot Too!
The mortgage industry goes hand-in-hand with the real estate industry, so you can almost bet your bottom dollar that with the summer home sales season in full swing, there will be some great mortgage deals to be had as well. Not only that but having all of your financing and mortgage details lined out before you start your home search in earnest will leave you with one less thing to do when the right home comes available.
If you’re not sure how to go about getting a mortgage or you’re not sure what the best mortgage product is for you and your family, then contact the loan experts at Tidewater Mortgage Services, Inc. For over 20 years, Tidewater has been helping homebuyers like yourself get the financing they need for the home of their dreams. Apply online today!
