It is a bit tough to think about purchasing a home due to the negative news on the real estate market. When you review the facts, it is actually a very good time to purchase a home. Here are advantages of purchasing Waltham MA homes in 2013.
Advantages Of Purchasing Waltham MA Homes In 2013
Reduced Mortgage Rates
Mortgage rates are extremely low. Most buyers secured fixed rates below four percent during recent months. Interest rates have a significant impact on monthly loan payments. By getting a low rate, home owners spend less money on a home or are able afford a higher prices property. Rates may not stay low for the long term, so buyers may want to act quickly to ensure a low rate.
Affordable Market Prices
The decreased real estate market means that homes are sold at a lower price than they were in past years. Similar to stocks, it is better to purchase at a low price than a high one. Real estate normally appreciates over time. By buying on the low end, there is also more room for an increase in value.
The Ability to Upgrade to a More Expensive Home
When property prices fall, it is really a great time to upgrade to a more expensive house. Buyers can lose money in selling an existing property, but the money saved on the new home should be more than that loss. Many buyers are realizing that the declined prices provide a rare opportunity afford a dream home.
A Smaller Gap Between Renting and Buying
Rental rates are high while housing prices have dropped, resulting in a smaller gap between renting and buying. Buying has the added benefit of tax deductions for mortgage interest, property taxes, and other expenses. When you also consider the benefit of building equity over time, home buying offers both savings and long term growth potential.
Home Buying Assistance for the Waltham MA Area
There are many advantages of purchasing Waltham MA homes in 2013. If you are ready to take advantage of decreased prices, low interest rates, and the other benefits of a home purchase, your first step should be to get in touch with a mortgage professional and real estate buyer broker. Contact Bradford Pratt at REMAX on the Charles (781-316-5760, firstname.lastname@example.org) for additional information on the local market and help with your property search needs.