Preparing to Buy a House in the Summer

Summer days can be – quite literally – a hot time for the property market.

The good weather and longer days make it much easier for would-be buyers to visit properties for sale and see them up close and personal.

When you do find the right house to be your next home, that extra daylight and lack of Ohio winter weather make the physical act of moving in much, much easier.

But, because it is a popular time to go house hunting, it can be somewhat of a seller’s market with increased competition for the properties listed for sale as more people are chasing the same houses – which can lead to higher prices. And with school being out of session, it is much easier to arrange viewings for families.

That said, taking advantage of more daylight can pay for itself in the long run as it means you and your home inspectors can do a much deeper job of looking around carefully and investigating potential problems.

Just be careful – the one aspect good weather helps hide may be leaks or damp patches, as there is less of that Ohio rain and snow. Check for signs of water damage in ceilings and basements or window and door frames that show signs of swelling.

Houses generally look their best in the summer – all the greenery, flowers, and foliage are fully out, colors are brighter, and we can envisage the outdoor spaces being used to their full potential. 

But if it is a busy time for buyers, how can you position yourself to secure the home of your dreams, even if you are willing to pay a little more for it?

Getting your financial ducks in a row is the best place to start – research and prepare your budget so you know when you have to stop if a bidding war does start. Your dream home will not be nearly as much of a delight if you have committed to an overwhelming mortgage.

Get pre-approved for your mortgage – being in a position to make an offer and move quickly is highly prized by many sellers. Cash talks – some sellers would prefer an easy deal and accept a lower offer if it means no waiting and uncertainty of approval. But do not expect to be haggling and getting away with a sneaky lowball offer – not in the summer months.

This also helps you – if you are selling a house and forming a chain, the more prepared you are the better you can enjoy being a summer seller as well as a summer buyer.

Being prepared to move quickly is not just on your financial side – if you are a family moving, or if your sellers are a family, there is often an internal deadline to be settled before the new school year in mid or late August, especially if the children are going to be in a new school or district. When schools start up again, there is often a fallback in asking prices.

But the best advice for a successful summer of house hunting is to work with a professional who can guide you through negotiations and position you for success – and in Northeast Ohio, that means Key Realty. Call today to meet your real estate expert.