Beyond any doubt, this has been the year for real estate. Despite all the challenges, homeownership is alive and well and homebuyers are out in large numbers purchasing new homes. You may wonder why this year, of all years has been so busy for new home sales.
In this article in KeepingCurrentMatters.com, they discuss why this year in real estate has exceeded all norms.
Why Purchase a New Home Now?
Over the past year, mortgage rates have fallen more than a full percentage point, hitting a new historic low 15 times. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at two of them.
1. Move-up or Downsize: One option is to consider moving into a new home, putting the equity you’ve likely gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit, especially if your lifestyle has changed this year.
2. Become a First-Time Homebuyer: There are many financial and non-financial benefits to owning a home, and the most important thing is to first decide when the time is right for you. You have to determine that on your own, but know that now is a great time to buy if you’re considering it.
Last year, the average mortgage rate was 3.93% (substantially higher than it is today). If you waited for a better time to make a move, market conditions have improved significantly. Today’s low mortgage rates are a huge perk for buyers, so it’s a great time to get more for your money and consider a new home.
When you are considering a new home, check out these amazing townhomes at Seaboard Township in Hiram. Within walking distance to Silver Comet Trail at marker 14.7, Seaboard Township has several available homes. Enjoy the walk that is absolutely free of charge and the trail travels west through Cobb, Paulding, and Polk counties. It is a paved trail that is perfect for walking, hiking, bicycling, and more. This trail is also wheelchair accessible.