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Many people wonder what the best time of year to buy a home really is. One time that you may not consider when purchasing a home is the during the summer season. However, purchasing a home during the summer season can actually work to the buyer's advantage in several different ways.
The following are 6 great reasons why buying a home in the summer is a great time to purchase a home:
- The Kids Are Out Of School: If you are looking to move any distance away from the area in which you live moving towards the beginning of the summer can help give the kids time move in and to settle into your new home before schools starts. This is also a great time to get the kids involved in recreational activities or sports teams for the upcoming school year, so they can be involved in activities and meet new friends soon after the move is complete.
- As The Market Improves Housing Prices & Higher Interest Rates Will Continue To Increase:As the economy continues to recover from the crash of 2008 and the housing market continues to recover it's almost a surefire thing that the costs of housing will go up in the coming months and years. The average home as appreciated (increased in value) by about 6.5% in the last year and that trend of appreciation is likely to continue in the coming year. Interest rates are also likely to go up as the market improves and going interest rates to go up as well. You can save more by buying while interest rates are relatively low rather than waiting as they continue to get higher. Buying now can help save $1000s in the future by allowing you to find a new home before the prices continue to rise and interest rates increase.
- Weather Is Ideal For Moving: Especially if you live in the north where winter weather is common, moving in the summer can provide much better weather conditions for your move. This means that the absence of ice and snow will make it easier for movers to move your furniture and your other belongings to your new home. There are less likely to be weather delays if you have a long drive to your new hometown. Doing outdoor activities like throwing a goodbye cookout or BBQ or a welcome to the new home cookout or BBQ event will be easier if the weather is ideal as it oftentimes is during the summer.
- Longer Days Give You Time To Explore: When it's light outside till between 7:30 and 10:00 at night (depending on your location and during which part of summer you are moving during). This gives you more time to explore your new home and get the lay of the land as there are more hours of daylight available to you than during the winter months. Getting to know the lay of the land before the kids start school and the holiday season sets in will be helpful.
- Gives You Time To Prep Your Home: Moving in the summer makes it much easier to prepare your home as you move in. Despite pop-up thunderstorms or rain showers, outdoor projects are more likely to have optimal weather in the summertime rather than trying to do it in the snow, sleet, rain, or freezing temperatures of the winter if you are moving to a northern climate. This is also a great time to get projects done before the kids head back to school, you start back to work, and soon, the holiday season arrives and you want your new home to be ready for family and friends who may come to visit.
- Make It A Vacation: Many people take a couple of weeks off of work during the summer for family vacations or even just to relax and enjoy some time with their families and kids or to enjoy the nice weather. Using this time to look at new homes or execute a move can help you make the best use of your time off of work by helping you get the move out of the way without the stresses of work being on your mind at that present time. You take the time off anyways, so be productive, move, and make a vacation out of it.
Having said that, there are many reasons that summer is a great time of the year to consider purchasing your new home. Whether you are moving a few miles up the road or are making a cross-country move.
Whether you are considering a move at some point in the near future or are ready to move this upcoming summer, please feel free to speak to one of the loan officers here at First Savings Mortgage who can help you out with the details and answer any questions you may have before finalizing the purchase of your family's new home. We are here and always happy to work with you and help with anything that you may need!