Tips for Buying in the Summer

The housing market is strong in the summer, so take advantage of the beautiful weather to look for your next home!

Not only is the weather nice, but the deals are hot too. In fact, prices tend to drop during the summer months, and you’re also likely to get a better price on prime mortgage insurance.

If you’re thinking of buying in the summer, here are some tips:

Don’t avoid older listings

People often think that if a home has been on the market for more than a week, it’s a red flag. But this is not necessarily true. In fact, it likely means a buyer reneged at the last minute, even though there’s nothing wrong with the home.

Think about houses that need work

There are many more homes on the market that need work than those that are move-in ready. There’s nothing wrong with putting some work into your new home. If you’re not prepared to do so, it’s important to be ready to move swiftly on the right deal once it comes along.

Consider the neighborhood

Even if the house is perfect, you can easily regret a purchase if you don’t like the neighborhood. Make sure you do adequate research on the neighborhood before making an offer on the home.

Make sure your offer is strong

A strong offer doesn’t necessarily equate to the highest offer. In fact, the key is to make an offer in cash. If you can’t make a cash offer, consider generous contingencies instead.

Source: trulia

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