Summer's Coming! Is it Time to Buy?

Summer's Coming! Is it Time to Buy?

Traditionally, Spring and Summer is the signature season to buy a house. So, if you’re finding yourself itching to go shop for real estate, we should take a look at a few things to consider. Do you have a plan? Will there be more competition because it’s the busy season? Your Rapid Team’s back this month with some pointers for jumping into the housing market about the same time you jump back into the pool!

When the weather is warmer, the real estate market typically sees a rise in activity each year, usually from early Spring through early Fall, and for obvious reasons. With the more seasonable weather, home buyers are more inclined to attend showings and open houses. The days are longer, and home buyers can attend a greater number of showings. On the seller’s side, most people find it easier to get home repairs done as the weather turns more comfortable. Also, most major holidays are behind us in the Spring/Summer, so there isn’t as much scheduling interruption for showings. 

So, should you buy in the Summer? The decision to enter the market shouldn’t necessarily be season dependent. Consider instead your financial situation, the strength of the offer you’re prepared to put forward, the area you’re looking to buy in, and your ability to bounce back if an offer were to fall through (which is a common occurrence). 

If you’re thinking the warmer weather is the time for you to go all in, here are a few of our top tips for Summer Buying. 

Find a home financing provider ASAP. First, you’ll want to get pre-approved to begin the process. Rapid Mortgage specializes in finding you the right home for your situation. We have the people to point you in the right direction.

Don’t shy away from a Fixer-Upper. Before you dismiss homes that need partial (or full) renovations, take a moment to do the math. Sometimes these homes are cheaper than fully done homes in the same neighborhood. You could really personalize a fixer to be your perfect home, in the perfect location.

Plan! If you have big plans for vacations, you might want to pick a different time of year. A weekend, or even a day, can make a big difference between the houses on the market and the time you have for making an offer.

Prepare! Make sure all of your finances are up to date and in order. Be prepared to show 60 days’ worth of bank statements and hold off on receiving large monetary gifts or moving large amounts of money (or be prepared to show and justify all of those transactions).

Partner! Find a real estate agent you trust to make this process smoother. You’ll receive professional insight and knowledge of the market and the negotiation process.

As the temperatures rise and the sun shines, keep these things in mind as you get excited about the process of finding a home. We are ready and waiting to get out there in the lovely weather this Summer and help you find your next home sweet home, so reach out to us today to get started! 

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