5 Tips for Buying Your Home This Summer
Are you buying your your home this summer? If you are, you’re also joining many other families looking to move into a home before the new school year starts! Because inventory is low and the demand is high during summer, it’s important to have a game plan before you dive in.
Here are five tips for buying your home this summer.
1. Investigate the pricing trends for your location.
The market may be hot, but your potential home’s location plays a factor in buying your home this summer. Experts say that starter homes, in particular, are generally in high demand, but once you research the pricing trends, you’ll be able to better gauge the chances of you finding a home in the location of your choice.
2. Make a list of non-negotiables for your home.
Because the summer market can be a rat race, knowing what your must-haves for your future home before the search is crucial. Here are some questions you may ask yourself:
- How important to me is a large yard?
- What is the minimum number of bedrooms I’m looking for?
- Do I prefer an eat-in kitchen or a separate dining room?
3. Be willing to be flexible with the price.
The selling price isn’t necessarily set in stone. Offering more than the asking price causes you to stand out among other buyers, especially when the clock is ticking. Other factors that keep you ahead of the game are having a nice-sized down payment or even offering an earnest-money deposit will catch the seller’s attention.
4. Choose your agent wisely.
Hiring the right agent can make a world of difference when buying your home this summer. An agent that is knowledgeable, tenacious and willing to go the extra mile is who you will need during this process, especially if a bidding war ensues.
5. Make a strong offer.
The highest offer doesn’t always win the seller over. For instance, sellers can be swayed by being able to choose the closing date. When making your offer, it’s also wise to not include too many unnecessary contingencies. Of course, it goes without saying that writing a letter to the seller will add a nice personal touch.