The American dream used to be owning your first home as quickly as possible! The visions of backyards, green grass and white picket fences has been the associated vision with families and happiness for decades; well times have changed. An incredible 54% of Americans now prefer renting to home ownership. Another 61% of homeowners delayed the decision longer than the previous decades of buyers. Many retired seniors are opting for a maintenance-free life with a landlord or property manager rather than hang on to the family home.
When is the best time of the year to move into an apartment? This depends on the answer to one major question: What are your priorities?
The months of May through September seem to be the most popular time of year for apartment hunting. College graduates are moving out of apartments in the Spring, younger kids are on summer break from school, and many part-time residents in mild winter states have vacated. The weather is usually better for apartment hunting (except for the brutal heat of the Southwest and South where you need to start early!). The inventory of available apartments will be higher during this time and will give you the most choices and better serve you to meet your other priorities as well.
Do you want to build a savings account? Do you want to lower your prior monthly rent or mortgage amount? Have you suffered from a cut in salary? Then, the rental price itself is the most important element in your search, so you may want to wait until the winter months for your search. The choices may be less, but landlords are more likely to be negotiable and/or running rental specials.
Have zero flexibility on your move? If you have a definite date to move out of your present living arrangement with no interim living choices like a friend’s apartment or parent’s home, then your time frame will be governed by that, but you can still play it smart. By organizing your searches on the internet and other sources, making lists and utilizing your spare time well, you can plan the move at any time of year.
If you are still looking to rent then I hope this article helps you in your process. If you’re tired of renting and interested in buying a home in Philadelphia, give me a call @ 215-518-5193 or schedule an appointment to chat with AGENT LADY about find your dream home!
About Agent Lady: Cherise Wynne is a leading real estate agent in Philadelphia, helping home buyers and sellers navigate the City of Brotherly Love, with a special focus on first time home buyers. To chat about getting started with your first time home buying experience, click here.