The temperatures are getting warmer and Summer is right around the corner. People are starting to turn their minds to thinking about vacation. Everyone is gearing up to hit the beach and listen to the sounds of those waves crash. Maybe one week at the beach just isn’t enough! People who can’t get their fill of the beach contemplate purchasing a beach house. While that sounds super luxurious, is now the right time to make that investment? Certainly there are more opportunistic months to catch a bargain on that swanky beach house, right? As a matter of fact there is!
While the Summer months bring a booming market to coastal areas, those who are looking to purchase their choice property on the beach better think twice. There is certain to be some stiff competition. This is the busiest time of the year for those thinking of purchasing their beach home. Other home buyers are looking for their choice property in the tropical paradise as well. With so many buyers searching for their home during this time, the sellers have the option to increase the price of their beach house. With the homes being in demand, buyers certainly wont find a bargain on the market. Even if buyers do find a property that is appealing to them there is the risk of bidding wars taking place.
Smart home buyers would let the Summer market cool off and jump on a good deal in the Fall months. In fact, coastal housing markets suggest that the months of September and October are the best times to consider purchasing a beach home. This is when home buyers are able to strike gold and get that deal that they’ve been holding out for. There is far less competition to compete with when they go in to make an offer on the house. This gives a much higher chance of getting their choice property. Some may think the inventory for these types of properties may be low by then, but there is still a decent amount of inventory left to choose from. While it may be tempting to jump on that house in the Summer to enjoy all of the perks then and there, holding out just a few more months will be well worth it!