Why Now is the Time to Invest in NH Real Estate
With the COVID pandemic and the stay- at- home orders, the housing market became increasingly backed up leading into the summer months. Now housing is going quickly as many families seek to escape the expensive, big cities of New York and Boston to find more peaceful home sanctuaries. Although it’s a seller’s market right now, meaning there is more demand for homes than are available, if you find a home in the Granite State that you are interested in, now is the time to purchase. Here’s why now is a great time to invest in New Hampshire real estate:
Mortgage Rates At All-time Low
Currently, mortgage rates are at a historic low at a range of only about 2.72%. With such low rates, many more prospective homebuyers are able to qualify for attractive mortgages. If you’ve been wanting to buy but haven’t been able to afford to, now may be an excellent time to jump on an opportunity while the mortgage rates are lower than ever.
Easier Than Ever to Close on a Home
Sellers are looking to sell their homes more quickly during the pandemic for various reasons and are making purchasing easier than ever for buyers. Many sellers are accepting cash offers with fewer contingencies. Now is a great time to purchase your New England home if you’d like to take advantage of the headache that comes with all the contingencies sellers usually have and the typical drawn out and delayed closings. For a fast and streamlined move, now may be the best time.
New Hampshire is one of the most affordable states to live in all of New England. With no state income or sales tax, New Hampshire is known as the “tax free state”. Residents get to enjoy the perks of all that Boston has to offer without having to pay the price of living in a big, popular city. In addition to the low cost of living, the median home listing price is 12% lower than metropolitan cities.
With months-long stay at home orders and social distancing, people are relying on the outdoors for fun more than ever. New Hampshire offers plenty to do outdoors with several lakes and mountains full of hiking trails and wide open spaces to camp, bike or any number of outdoor activities. There are historical museums and sites all over the state, charming beach towns, and easy access to big cities like Boston or Portland Maine. With so much to do and see, New Hampshire is a great place to live before, during and after the COVID pandemic.
With all that New Hampshire has to offer and the low mortgage rates currently offered, right now may be the perfect time for you to finally invest in the great Granite State real estate market. If you are interested in buying or selling your New Hampshire home, contact your local real estate agent at Verani.com. Our agents are the best in NH real estate and can answer any questions of your questions!
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