4 Main Reasons to Buy a Home During the Summer
Forget the 'normal' four seasons: as usual, in South Africa, we've skipped spring and went straight into summer!
Besides the return of our green grass and colourful flowers, both home sellers and buyers are coming out of the woodwork during these next few months.
If you're looking to buy a home in the summer months as well, don't despair as there are quite a few advantages of buying during this time of the year.
Here are the 4 main reasons why you ought to buy a home in the summer:
#1 - Increased housing supply
Without a doubt, the months of September and October normally see quite the influx of new properties coming onto the market.
After all, a lot of home sellers believe this time to be the most beautiful period of the year to showcase their homes.
Add to this the slowing South African economy thus far, and most real estate agents will confirm that we are very likely to see record numbers of properties being listed this coming summer!
In other words, if you're someone who's looking to buy a home in the summer, you'll have plenty of homes to visit and choose from before making up your mind!
#2 - Lower selling prices
As mentioned above, the big influencing factor will be the availability of properties in any particular area.
Obviously, if there are only a handful of houses available, you'll definitely see price competition.
However, the majority of SA suburbs aren't experiencing this type of buyer frenzy.
During these next few months, correctly-priced properties will undoubtedly sell quickly, whereas overpriced ones will remain on the market for longer periods of time.
With plenty of properties available to home buyers during this time, you'll see plenty of bargain shoppers, who will try their luck with lower offers.
Also, the buyers, who realize they've got ample choice to pick from, won't be too fussed if they don't get their (lower) offers accepted on the first property.
There's always the next one!
This type of thinking by the home buyer will lead to overall lower selling prices in an area.
#3 - Less buyer competition
It might initially seem counterintuitive!
'Everyone' is buying during this time of the year, which should mean higher prices, no?
Not quite!
In-line with the lower selling prices explained earlier, home buyers who have plenty of choices to select from won't necessarily react too emotional if they miss out on an opportunity to buy a certain property.
After all, there are a lot of other properties on the market, so why bother overpaying for one specific one?
#4 - Property is in full view
While this might not be as applicable in some provinces, others do see quite the difference in the presentation of the properties during winter months vs. summer months.
Imagine having to face the cold temperatures or drizzling rain when viewing a property.
You, as the home buyer, might not be in the greatest of moods, but neither will the property!
The property only has one chance to make a first impression, and if the weather is overcast, rainy, and cold, how is that stunning (summer) garden supposed to impress you?
Meanwhile, most of the rooms might be quite dark and dingy as there's no decent sunlight during the viewing!
During the summer months, all these problems are unlikely to be present, as you can actually properly see what you're buying, especially in terms of the outdoor spaces!
