We often get asked, “Is It a Good Time to Buy a Home in the Boston Area?” The short answer is that it depends on your personal circumstances. Market prices and interest rates also play an important role. Right now both of those are good.
If you’re in a relatively stable market, as in most communities in the Boston area, and if you expect to be in your new home at least four years, this is probably a great time for you to buy a home. This is especially true for first-time buyers and also for trade-up buyers.
Even if your market took a hit in recent years, it’s still probably a good time for anyone using a mortgage given the relative effect price and interest rates have on monthly payments. If mortgage interest rates climb by just one percent over what you can get today, the price of your new home would have to decline by a full ten percent for you to save one penny on your monthly payment.
Even when someone is smart or lucky enough to have made a killing in the stock market, it’s highly unlikely they bought at the very bottom of the market and sold at the very top. Getting close enough on either end is what matters, and there are probably many more examples of people who regret not pulling the trigger near the bottom before it shot up, or selling near the top before it tumbled. The same is true in real estate, whether you hope to make a killing or just a moderate return.
Prices are currently still relatively low in most areas in and around Boston,..and so are interest rates. All things considered, it is a good time to buy a home in Massachusetts. If you would like detailed market statistics for your particular city or town, please feel free to contact us. We are more than happy to provide you with information that allows you to make an educated decision about buying.
As home buying advocates it is our job to protect you in the purchase of a home. Our primary job is to get you the home you want for the best possible price. We do our homework, and our buyers are delighted with our results. Give us a call.
Ronn Huth 800-25-BUYER