Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my Wellesley Real Estate or Newton Real Estate websites. Search for homes HERE.
Many times people ask me about trading up and buying a new home. The chart to the left speaks for itself, but let’s look at a couple who wants to move up but have stalled that decision because their home is not worth as much as they expected. Here’s how I helped them processed that information:
They purchased their home in Wellesley in 2005; the very height of the market for $600,000. They are looking at buying a home for $1.2M. Their home is now worth $550,000. If they wait for the market to appreciate 10% it will cost them $65,000 to wait for their home to appreciate 10% ($550,000) to $605,000.
That new home they wanted to buy if it appreciated 10% would be a $120,000 more or $1,320,000.
It’s simple math. Waiting would be costly. In addition, they would possibly lose their dream home waiting for the market.
Other articles on Real Estate Investment:
Buying A Home in Wellesley, MA is An Investment
Is Now the Right Time to Upgrade a Home in Wellesley, MA?
To Rent or To Buy, That is the Question
Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Wellesley Real Estate market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.
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