For many across the nation, these uncertain times during the 2019 novel coronavirus (COVID-19) pandemic have caused stress levels to rise as financial woes burden Americans more than ever. One such
Mistakes to avoid when buying a home in the summer
Dated: July 1 2020
Regardless of whether you're looking to purchase a home for the first time or if you have purchased one before, there are many different mistakes to avoid when buying a home in the summer. This is because oftentimes, nicer weather will generally result in more competition for the specific home that you may be interested in. In the event that you're lucky enough to find the home that you want, it's important that you do everything that you can in order to secure it; however, there are many potential buyers who end up making mistakes that could have easily been avoided.
Here are three of the biggest mistakes to avoid when buying a home in the summer.
- First and foremost, perhaps one of the biggest mistakes involves missing all of the obvious warning signs involving a home. This is because the dry, warm weather during the summer season can often hide more serious issues such as moisture, which can be countered by closely examining window frames and doors in order to ensure that no warping is taking place, as well as any gaps or swelling that would allow for any air or moisture to enter the home. It's also important to closely examine both the ceiling and walls in order to look for possible mold or mildew, both of which are signs that there are additional serious issues with the home. Additionally, you should also take the time to look at the exterior of the home as well for any noticeable issues. Of course, many issues will likely be noticed during a thorough home inspection.
- Another big mistake to avoid when it comes to buying a home during the summer is going into the process with blinders on. While there are all sorts of great reasons to consider purchasing a home during this time of year, there are also different factors that can make this process challenging, such as increased prices and, as previously mentioned, increased competition for the home that you're interested in. Furthermore, despite what you may have previously heard, summer isn't necessarily the time of year in which there is a great amount of inventory involving homes. In fact, throughout the last ten years, there has been a lower inventory rate, even in markets that didn't expect something like that. Despite all of this, it's always important to focus more on what you are able to actually control during this time of year, such as how much your credit is worth, your loan application, and your budget.
- One other big mistake that you will want to avoid in terms of buying a home during the summer is not being prepared to close. It's important to always be prepared to quickly make offers, never expect any kind of lengthy negotiation, be aware of your watch list, and begin the entire home buying process with the end in mind. Essentially, this means that you will have little amount of time for blinking and you will need to take quick and decisive action, which is something that is important in any home buying environment.