When you picture yourself buying and moving into a new house, you imagine it’s during the summertime, right? The kids are out of school, obligations have slowed down, and you have more time to sort out such a massive change in your life. Especially if you’re moving into a beach house, you can already picture the glaring heat of the sun and feel the gritty sand in the air. But because most people buy new beach houses in the summer is precisely why you should wait to buy your beach house in the fall.
According to a survey by Trulia, September is the beginning of the slow season for house hunters. “Home searches for September and October combined are 6% below the annual average,” according to Trulia.com. Just like how Hawaiian surfers wait until the fall and winter for the biggest waves, house hunters looking for their dream beach home should wait for the colder months, too. Plenty of homes are still on the market, but there is markedly less competition for them.
If you’re specifically looking for a vacation home in Fort Myers, FL, West Palm Beach, Orlando, or Virginia Beach, NC, Trulia’s survey shows that house hunting in these cities drops dramatically during the fall months.
Making the decision to buy a beach house is a big one, and shouldn’t be taken lightly. Everyone can benefit from waiting until the prime time to invest in their dream home.
When NOT to Buy a Beach House
Across the country, most people choose to start house hunting and putting in offers in the spring months, according to an article on thebalance.com. More houses are put on the market in the spring because people use their summer vacation time to make their move to a new place. Additionally, once school lets out, coupled with spring fever, parents want a fresh start in a new environment. The return of warm weather brings people out from under their heated blankets, helping them feel more invigorated and ready to make a change.
The only problem with this is that, because of the increased competition during the spring months, houses on the market will be overpriced and out of many people’s reach. This is even more true for beach houses because families want to purchase a vacation home they can escape to immediately. Thebalance.com argues that the worst day to put an offer in on a house is the last Friday of May since most people have finished their house hunting in April and finally settled on their home of choice. But they say the best day to buy a house is on Christmas Day, Dec. 25. So maybe this year, instead of stuffing your family’s stockings with candy and toys, give them the keys to your new house.