Right now, the Wellesley real estate market is in excellent shape and moving fast. There are lots of homes on the market and buyers are able to look at several options and find the perfect fit for their family. If you are considering buying a home this year, now is the time to do it.
Keeping Current Matters, which tracks real estate market trends, reports that now is the time to buy for five reasons:
1. Supply is Shrinking
2. Price Increases Are on the Horizon
3. Owning a Home Helps Create Family Wealth
4. Interest Rates are Projected to Rise
5. Buy Low, Sell High
Inventory for the Wellesley market is high right now, meaning there are lots of homes being listed. But, that won’t last forever, so while the market is in a good place, why not start the search for your dream home?
Keeping Current Matters predicts that home prices will increase from now until 2018. Take advantage of a high inventory and good home prices now, before prices go up again. To ensure that you’ll get into the perfect home for the perfect price, you will need to work with an agent who can help you prepare a professional offer that is likely to get accepted.
In the coming months, interest rates are also projected to increase, meaning it will be more expensive to buy a home. Experts predict that by the end of the year, interest rates for a 30-year mortgage will likely increase to over five percent.
When you invest in a home, you are investing in your future and increasing your family wealth. As a homeowner, you will gain a valuable asset that increases your net worth. In fact, according to the Federal Reserve, the net worth of the average homeowner is 30 times higher than the average renter’s net worth.
Low home prices make buying a house an excellent option and low interest rates mean now is a good time to act. When you buy a home, it’s wise to spend less than what you’ll be able to sell it for later. Right now, the market is ideal for this kind of investment.
Take advantage of this market, with low home prices and interest rates, and move into your dream home. As you do this, you’ll be making a financial investment and increasing your net worth, which brings many benefits.
Since the market is moving so fast you’ll need to work with a real estate agent to make sure you get the best deal possible. An experienced agent will help you find the perfect house and write an offer that the seller will accept. She’ll also guide you through the buying process, so you’ll have someone by your side ready to help and answer questions.
You can find more home buying tips on the Christine Norcross & Partners website. To find a Wellesley home for sale, contact Christine Norcross at 781-929-4994. We are professional and experienced agents who know the market well and can help you find your dream home. You can also connect with us on Facebook for more information on current market trends.
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