In the summer, temperatures aren’t the only thing heating up. From May to September, the real estate season can be equally scorching. With the warmer weather, people being out and about, and gardens and backyards being at their seasonal best, the summer can be a popular time to buy and sell your house. But should you? Here are the pros and cons of buying and selling your property during the summer – to help you make the best real estate move.
The pros of selling a house during the summer
1. Longer hours = More showings.
With increased daylight, you will have lots of time during the day to show your home. With the warm weather, prospective buyers are also more likely to drop by to your open house.
2. Buyers are motivated during the summer
Sometimes, buyers are in a hurry to move in before the school year begins or before the arrival of the colder weather. Sellers take advantage of this urgency by listing their properties during the summer.
3. It’s a convenient time to move
With the children out of school, it is an easy time to move without displacing their studies. The temperate weather also makes it easy to move – buyers don’t have to deal with the unpredictability of other seasons, such as spring showers, harsh winter storms and frigid fall days.
4. Summertime: When your house is at its prettiest
In the summer months, your house shows its full natural glory. The grass is green, the pool is sparkling, and the foliage is lush – enticing prospective buyers.
5. It could be the perfect time to buy and sell your house at the same time
If you’re looking to buy and sell simultaneously, summer is an ideal time to do both. Not only are there more buyers – and more offers – but there’s also likely to be an increase in house inventory – leaving you with more options to choose from.
The cons of selling a house during the summer
1. Competition galore
Often, the housing market is flooded with listings, making it especially important for sellers to make their houses stand out from the competition. Many sellers have to renovate their properties to stay competitive.
2. Selling obligations may interrupt last minute vacations
Summer is also the most popular season for holidays and weddings. Be mindful that you will probably have to sacrifice those plans if you plan on selling your house this summer. You will be spending your time at showings – both for buying and selling – and you’ll also need to spend time cleaning and prepping your house before it hits the market.
3. Having children present during showings can be challenging
If you do sell during the summer, arrange for the kids to go to a day-camp or play-date during home showings. Be mindful that it can be an emotional time for them to see the house sold, and you want to minimize the impact for them as much as possible.
4. Moving during summer heat isn’t easy
Moving heavy boxes and furniture when it’s hot and humid outside can be exhausting. Make sure you’re prepared with plenty of bottled water, portable fans and sunscreen. Schedule plenty of breaks and protect yourself from fatigue.
5. Not all prospective buyers are serious
You may find yourself wasting precious time showing your property to prospective house buyers who aren’t even interested in the actual purchase. Some house hunters want to look at everything on the market simply because they can. Ensure your real estate agent vets the buyers for pre-approval letters before inviting prospective home buyers to showings.
If you are thinking about making your real estate move this summer, you need a strong team on your side. Whether you are looking to buy or sell property in the Greater Ottawa Area, it is critical that you have a real estate agent on your side who understands your needs. Adam Mills and his team have been in business for over ten years and have a proven track record for success. Our team is composed of knowledgeable and experienced professionals who are happy to help you navigate the ever-changing Ottawa real estate market. Please contact us at 613-825-7653 or email us at [email protected] for more information or help with your relocation.
