House

Why Summers isn’t the best time to Buy a new Home?

Your estate agent may have less time for you at this time of the year because many others are seeking his attention at the same time as you.

Buy a new home in Summers

Buying a home is a big financial transaction and as with many other goods, sales and purchases occur through the year. But the time of the year you purchase a property affects the type of property you get, the amount you spend, and even the interest.

For many, summer is the best time in the year to buy a home for different reasons including:

  1. More houses to buy

There are rightly a lot of houses to buy during summer. More people sell during this period and so, you likely have lots of options to pick from.

  1. Aesthetics

Clearly, summer is a great time for views. During summer, depending on where you stay, you may have daylight till 9 pm or later, and so you can see the neighborhood you love in clear light even if you spent your whole day at work.

  1. More time

Because a lot of academic activities will probably not be happening around that time and kids are not hurrying to go to school, you have a lot of time to see your prospective property.

Why not buy a home in summers?

But it might not be the perfect time to buy a house for several reasons.

First, summer is a time where everyone is looking to buy a house. What it means is that there is high demand during the period and so the price is naturally higher than other times where demand for homes may be less. More people may be admiring the same house you are admiring and so you may find yourself negotiating with not just the agents but also other buyers.

Secondly and closely related to the first point, the cost of moving also becomes more expensive. You may find that your moving company charges higher than they would normally. It’s the time of the year.

Also, you just might be bidding your summer vacation a bye. This is because every event is trying to get fir into summer, so apart from buying a house, you probably have weddings and reunions that you want to attend. You most likely will be left with no time for a vacation after buying a house, moving, tidying up your house, and attending the events on your list. Your favorite time of the year for relaxation may turn out to be the busiest.

Also, note that your estate agent may have less time for you at this time of the year because many others are seeking his attention at the same time as you.

Buying a house in summer may be interesting but you may consider buying at another time of the year where you are at more advantage.

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Harish Yadav

Finance and market analyst and chief writer on howtofinance. Passionate to read books and articles on marketing and accounting. Also edits other articles and publish them here.

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