Boston Property Management: Buying a home during the Holidays
Homes can be quite pricy and the changing economics of the market make it challenging for people to get a new home. However if you look around and do your homework properly, you may not have to wait too long to find a new home. They say that one of the best times to get a home is during the holidays. This post looks at the advantages of shopping for a home in December.
Real estate experts say that the best time to buy a house is in December. This is because the prices are quite low in the month as compared to any other month in the year. They also believe that real estate prices are rising at a slow pace. So if you want to go around looking for a place this is a good time to do that.
An important point to remember is that a number of people are also looking to buy so it could get tough. Home prices tend to go up 6.4 percent year by year. The positive part is that there has been a slowdown in prices. They are expected to only grow at a rate of 3 percent next year. This makes it a good market for buyers.
Boston Property Management: Low mortgage rates
Buyers will rejoice knowing that they can afford to buy a house in this market. The housing market is currently good because mortgage rates are at the 4 percent mark. The most they will go up is to 5 percent next year. An important point to consider is that even an increment of a point will make your purchasing power go down by 11 percent.
There may be sellers who list their homes during this time of the year. This could mean a number of things. They could be pressured to sell their house either because of a divorce, personal problems or relocation. This puts the buyer in a better position to negotiate since the competition is not so tough.
The most important point to remember is that people will always be looking for ways to lower their taxes. So if you close on your new home before the start of the New Year you can get a break.
If you can come up with all these savings, you have more equity built up and more to spend.
We hope you liked our post “Boston Property Management: Buying a home during the Holidays”.