Shopping for a Chicago home this summer? Here are some key tips

The summer homebuying season isn’t quite as busy, historically, as is the spring real estate market. But there are still plenty of single-family homes and condominiums for sale in Chicago this summer.

Want to land your dream home during the hotter months? Then you’re in luck: Sellers often discount the asking prices on condos and single-family homes during the summer selling season.

Real estate website Trulia recently ran an interesting buyers’ guide on the summer homebuying season. It’s well worth a read if you’re going to be wading into the Chicago housing market this summer.

The first thing to know? You might find a good bargain during this season. That’s because homes that didn’t sell in the spring are often discounted as sellers try to close their home sales before the summer ends. And if you do come across a listing that is discounted? Don’t automatically assume that the property didn’t sell because it had serious flaws. Sometimes a home that didn’t sell during the spring will be a perfect fit for you.

Be patient, too, especially if you are looking for a bargain. Trulia said that price cuts happen most often in August. This makes sense: As the summer nears its end, sellers get increasingly antsy to sell. If you can hold off on buying a Chicago home until then? You might save a significant amount of money on the residence you buy.

My top tip, though? Work with a REALTOR®. You want to work with a professional who can tell when a home is overpriced or listed at a bargain price. You also want a REALTOR® on your side who can help you negotiate a lower sales price with the sellers.

Trying to buy on your own without the help of a REALTOR®? The odds are that you’ll overpay.