Summer is an extremely popular time to move. Of the approximately 40 million Americans who move each year, more than half move during the summer months. Home sales increase during spring and through summer. With this in mind, you want to make sure you get preapproved for a mortgage loan to start the process right away. Putting the heat aside, moving during this time of year does offer many moving benefits.
Why does it seem like everyone is moving during the summer?
Several factors have helped to determine summer is the time to move in the U.S.
The most popular reason that comes to mind for families is the traditional school schedule. With kids out of school, the move may be a little less disruptive for the kids since they won’t have to start with new classes, teachers, and classmates in the middle of the school year. The transition will be smoother for the kids through the summer when they can make friends around the neighborhood or through summer camps and other activities without the school pressure of being ‘the new kid.’ Moving during the summer also gives parents a chance to breathe, get school supplies and make sure all the necessary transfer paperwork is completed with no frantic rush.
Second, since summer is already a time that employers expect their staff to take off, it isn’t as difficult to ask for a few extra days off if you’re moving locally. Granted, moving is no vacation, but not trying to cram it into a weekend or worse, in the evenings after work, is worth the time off. Additionally, summer is often the slow period for many businesses and employees can take advantage of the slower paced work schedule to duck out for a bit.
Last, more homes are available for purchase during the summer. It stands to reason that if more than half the moves in the U.S. occur during the middle of the year, then there would be an increase in inventory. Don’t let this lull you into a complacent state when it comes to home buying. Though there are more homes available as many move, there are also more people looking for a home and snapping them up faster than you would ever expect.
If you are looking to move over the next couple of months, it is important that you are taking steps now to help secure funding and ensure that you have a leg up on your competition. You can get preapproved before you have even selected a house. With rising interest rates affecting home affordability, purchasing sooner rather than later is the best option in this volatile interest rate environment.
What can I do to ensure a smooth move during the summer months?
Start early. If you start packing unnecessary items and things you know you won’t use prior to your move, there will be that much less to do when it comes down to the ‘big pack.’
Stay organized. Even if you start early, you want to make sure you have the right kind of boxes and label them well. Decide on your labeling system and stick to it.
Choose an order. Pack one room at a time to cut down on confusion and frustration that can occur otherwise. Trying to pack multiple rooms at once can be overwhelming to your already stressed body and mind. Just don’t do it.
Plan, plan, plan. If you are helping with the move and not hiring movers, ensure that you are prepared for the summer heat with lots of cool water and other items that can help you beat the heat. If you are hiring movers, get to them now. Moving companies across the country are already booking up for the summer and you do not want to wait any longer to call if you haven’t already reserved your time.
Protect your belongings. If there are valuable or delicate items that you will be moving, make sure that they are with you and not in the moving truck. Pack them carefully and make sure to label the box Fragile. This is especially true for items that do not do well in heat. Depending on how far you are moving, they may be stuck in a hot truck for several days.
Remain calm. Moves can be stressful, but the more you take care of ahead of time, the less chance you will become overwhelmed. Take a few deep breaths, have a glass of wine, and enjoy the new adventure!
It’s not too late! If you haven’t yet been preapproved or even started the process of getting preapproved, you can still take advantage of the current interest rates, which will only be rising over the next several years. Contact Park Place Finance today and we will work to help get you into your next home.