We've all experienced the challenges of the economy and housing market the past couple years, but 2013 has been different. Wellesley area resident's attitudes toward the housing market have improved, and we've seen a big increase in activity in the Wellesley housing market this year. We've also seen Wellesley housing prices increase this year, which has been great for sellers. I've seen many buyers entering the market, so they can buy homes now, for fear of the continuing rise in home values and interest rates.
Many Wellesley MA renters believe strongly, that home ownership is an important financial decision and most renters I speak with, tell me homeownership is one of their top goals. The National Association of Realtors®, of which I'm a member, published a survey called, "The Housing Pulse Survey"; that showed renters are considering buying a home, more now than in recent years. At the same time, the number of people who prefer to rent has declined substantially.
This year more renters are thinking about purchasing a home, and many have told me that owning a home is one of their highest priorities. However, many 1st time home buyers either can't stop renting or can't buy the home they really want. Student loan debt, and little savings for a down payment or closing costs can make it hard for them to buy a home. Many 1st time home buyers I meet, consider student loan debt to be one of their biggest obstacles. Home buyers with student loan debt find it challenging to access mortgage credit or to save for a down payment.
Owning a home in Wellesley MA matters to Wellesley residents, who understand the benefits home ownership provide for their families and community. Right now, affordable home prices, and historically low interest rates, have more renters thinking about owning a home than in recent years. In some areas, it costs less to own a home than to rent one.
So it’s a no- brainer for renters to understand that buying a home in Wellesley MA, gives them awesome long-term benefits and is the best major investment they can make. The bottom line is that buying a home in Wellesley and Metrowest is a great financial decision and NOW is a great time to buy a home.
