Summer is one of the most popular times to buy a home, and for good reason.
The weather’s great for house hunting, families can move before the school year starts, and there’s typically more inventory on the market.
But with all that activity comes increased competition and some unique challenges you’ll want to be prepared for.
Why Summer Is Prime Home Buying Season
The warmer months bring several advantages for home buyers.
You’ll have better lighting for viewing properties, can easily inspect outdoor spaces like gardens and patios, and won’t have to worry about weather delaying inspections or closings.
Plus, many sellers list their homes in late spring and early summer to take advantage of the busy season, giving you more options to choose from.
Preparing for a Competitive Market
Summer’s popularity can sometimes mean you’ll likely face more competition from other buyers.
Getting pre-approved for a mortgage before you start looking is absolutely essential – it shows sellers you’re serious and can move quickly when you find the right property.
You’ll also want to have your down payment and closing costs ready to go, and consider working with an experienced local agent who knows the market inside and out.
Making Your Offer Stand Out
In a busy summer market, your offer may need to stand out. This might mean offering close to asking price, being flexible with the closing date, or limiting contingencies where it makes sense.
A strong pre-approval letter and proof of funds can make all the difference.
Sometimes it’s the personal touches that matter too. Partnering with a real estate agent who has great relationships can certainly help!
Timing Your Purchase Strategically
While summer is busy, there can be pockets of opportunity.
Late July and August sometimes see a slight dip in competition as families focus on vacations and back-to-school preparations. If you can be flexible with your timeline, you might find less competition during these periods.
Managing the Summer Timeline
Summer schedules can be tricky with vacations and family commitments. Make sure your lender, attorney, and other professionals know about any upcoming travel plans that might affect your closing timeline.
It’s also worth noting that some services like home inspections might be booked further out during peak season, so plan accordingly.
Don’t Forget the Details
Summer buying means you’ll want to pay extra attention to cooling systems during your inspection.
Check that air conditioning units are working properly and ask about utility costs during peak summer months. Also, take note of how the property handles summer weather – does the yard drain well during thunderstorms? How much sun does that gorgeous deck actually get?
The summer home buying season can be exciting and rewarding when you’re well-prepared. Having the right local expertise on your side makes all the difference in navigating this competitive market successfully.
Ready to start your summer home search in Massachusetts or New Hampshire? Call Laffely Real Estate Associates at (978) 255-4788 for personalized, local expertise that will help you find and secure your perfect home this season.
