It is a bit tough to think about purchasing a property due to the negative press on the real estate market. When you consider the facts, it is actually a great time to purchase a home. The following are reasons for purchasing New Hampshire real estate in 2012.
Reasons For Purchasing New Hampshire Real Estate In 2012
Favorable Interest Rates
Mortgage rates are extremely low. Most buyers secured fixed rates below four percent in the first half of 2012. Mortgage rates have a huge effect on monthly mortgage payments. By getting a low rate, home owners spend less money on a property or afford to buy a more expensive home. Rates may not stay low for the long term, so buyers should act sooner rather than later to ensure a low rate.
Real Estate Price Patterns
The downturn in the real estate market means that homes are sold at a lower price than they were in past years. Similar to stocks, it is prudent to buy at a low price than a high one. Real estate in the usually increases in price over time. By buying on the low end, there is much more room for increased equity.
The Potential to Upgrade to a More Expensive Home
When real estate values decline, it is really the best time to purchase a more expensive home. Buyers may lose money on the sale of an existing home, but the savings on the new home can be more than that loss. Many buyers are realizing that the reduced prices offer a rare chance to purchase a home of their dreams.
The cost of rent are high even though housing prices are low, resulting in a smaller gap between renting and buying. Buying offers tax benefits as well for mortgage interest, property taxes, and other expenses. When you include the benefit of building equity over time, home buying includes both savings and long term growth potential.
Help With Purchasing a Property in the New Hampshire Area
There are many reasons for purchasing New Hampshire real estate in 2012. If you are ready to take advantage of home prices, low mortgage rates, and the other perks of purchasing a home, your first step should be to get in touch with a loan officer and real estate buyer broker. As a Marketing Manager at Accurate Title, I can offer information on your loan alternatives and a free mortgage pre-approval. You may reach me at 800-639-4405 or firstname.lastname@example.org.