5 Benefits of Buying a House in Summer

As the weather heats up, so does the housing market. That’s because buying a house in summer comes with advantages like great weather for moving, and kids being out of school. 

Here, we’ve broken down all the good reasons to buy in summer, and why it’s so important to have a realtor’s help in such a competitive season. 

Why is Summer Good to Buy a House?

While every season has its perks for purchasing a home, summer is extra special. It comes with a little less stress, more options, and several other benefits.  

  1. Time Off From School and Work

If you’re moving to a different city, waiting until the school year ends makes it easier for the kids to travel and be settled into their new neighborhood before fall. Having enough time to meet other students in the district is often easier than switching schools mid-year. 

Buying a house in summer is also usually better when it comes to taking time off work. Teachers, of course, have the whole summer off to find a house and get moved in, but many other employers are also more flexible regarding vacation day approval.

       2. Better Viewing of Outdoor Spaces 

Shopping for a home in the colder season means landscaping is dead, trees are bare, and the pool cover is on. Summer gives you the full scenario of what a home has to offer. And if you find a house you love with a patio, backyard, or other outdoor living space, you might just have enough time for a swim party or barbecue before the warm weather ends!

several houses for sale during summertime
Image by _ALEKSANDR_ by Canva.com

    3. More Inventory

It’s easier to find the home of your dreams when there are more on the market to choose from. According to the National Association of Realtors, the number of existing home sales in June is higher than any other month, with August, July, and May (in that order) not far behind. Looking at multiple properties will allow you to make a list of what you like and dislike, and to make an offer on a home you will actually love. The last thing you want to do is jump on the first property you see and end up regretting your purchase.   

    4. Better Moving Weather

While there’s always the possibility of a Midwest summer storm, buying a house in summer means you won’t be hauling furniture up and down icy steps. You’re also less likely to experience weather delays if you have a long drive to your new hometown.

     5. Selling is Easier, Too

Unless you’re a first-time home buyer, chances are you have to buy and sell a house at the same time. This could cause stress during other times of the year, but research shows that homes for sale in summer sell fast. The median days on the market in June is only 31 days, followed by 32 days in May, 33 days in July, and 34 in August. For all the same reasons summer is a great time for you to buy a home, other buyers will be eager to buy yours!

Are There Downsides to Buying a House in Summer?

Overall, there are more benefits to making a summer purchase than there are drawbacks. It helps to be prepared, however, for a couple of challenges you might encounter.  

Higher Prices 

We are still in a seller’s market, so homeowners have already been asking more for their homes due to supply and demand. But because many summer buyers are eager to get situated in their new homes before the next school year, sellers can get away with asking an even higher price. 

According to a Zillow analysis, the 2023 spring and summer months had a 0.5% to 1% increase in sales prices compared to the yearly average. Homes sold in June last year went for 2.3% more than in other months. Needless to say, you’ll have to be prepared to pay a little more for a summer purchase, but you’ll also be able to ask more for your current home when you’re ready to sell.   

More Competition

Since summer is good to buy a house, other buyers will also be out in full force. Even though inventory is higher, homes will sell fast. You will have to be fully prepared to make an offer on a home you want. An experienced realtor can help you beat the competition by:

Telling you a home’s realistic value. Bidding wars are still very much a thing. Homes in some areas receive 10 or more offers, and some buyers are offering 10% or more over the asking price just to ensure they “win” the war. An honest realtor will tell you if a home is truly worth paying what you’re willing to pay, or if it’s time to walk away and look for another one.

Providing virtual home tours. If a home pops up for sale in the area where you’ll be relocating, it may not be possible for you to get there before the competition does. A buyer’s agent in the area can walk you through the home virtually and offer honest advice regarding its condition, asking price, and whether it seems like a good fit for you. If it is, they can take care of the paperwork and have you sign an offer electronically if needed.  

Helping you make a backup offer. If a buyer chooses another offer over yours or a house you love is already under contract, pending, or contingent, a realtor can let you know if there’s still a chance the home could become yours. Contracts fall through all the time due to financing issues and buyers backing out. An experienced agent can help you make a backup offer that will appeal to the sellers if their initial contract doesn’t pan out.

Teaming Up with an Agent Can Help You Find a Great House this Summer

Is summer good to buy a house? Absolutely! But it’s a lot easier when you work with a realtor at Berkshire Hathaway HomeServices Select Properties who knows the St. Louis area real estate market. 

Our agents can tell you about homes that are about to be listed, offer advice on what a house is truly worth, and help you negotiate with sellers. Before you know it, you’ll be listening to the kids play in their new backyard or basking in the sun on your new patio. Contact us today to begin your search. 

Next Post

Subscribe

Search