Mortgage rates are still at yearly lows.

mortgage rates  According to the National Association of Realtors, mortgage rates are still at yearly lows.   The chart shows the average monthly principal plus interest payment for a $200,000, 30 year fixed loan rate.  The holiday season can be a great time to purchase a home.  Many sellers of homes on the market during this season of the year are anxious to sell before the New Year.  It’s quite possible, too, that you may qualify for  monthly mortgage payment that is less than your current rent payments. Contact me at Re/Max Partners in Andover if I can answer any questions you might have about the  real estate market here in Andover and the Merrimack Valley and start your Andover home search here.

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Either Way, You’re Still Paying a Mortgage

reasons to own

REASONS TO OWN

There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either your mortgage or your landlord’s. As a paper from the Joint Center for Housing Studies at Harvard University explains:
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
Also, if you purchase with a 30-year fixed rate mortgage, your ‘housing expense’ is locked in over the thirty years for the most part. If you rent, the one guarantee you will have is that your rent will increase over that same thirty year time period.

As a homeowner, the mortgage payment is a ‘forced savings’ which will allow you to have equity in your home you can tap into later in your life. As a renter, you guarantee the landlord is the person with that equity.

Bottom Line

Whether you are looking for a primary residence in Andover  for the first time or are considering a vacation home on the shore, owning might make more sense than renting since home values and interest rates are still at bargain prices.

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Taking the “Spooky” Out of the Mortgage Process

Taking-the-Spooky-2000     With interest rates so low, it’s still a great time to purchase a home.  If you need help finding a mortgage to suit     your personal and financial goals, contact me at RE/MAX Partners,  I’d be happy to introduce you to a qualified professional loan officer who will take great care of you.   In the meantime start your Andover or North Andover  home search here.  …and oh, by the way…..HAPPY HALLOWEEN!

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Trick or Treat Hours in Andover and North Andover

Halloween Fun in Andover

Happy Halloween

Halloween has certainly become a major treat for kids and grown ups alike.  We’re fortunate to live in a community where  it’s fun to celebrate with friends and family.

Here are some tips for staying safe this Halloween as well  the local Trick or Treat Hours for Friday,

October 31.   Have a “spooktacular Halloween!”

Andover   5-7 PM

North Andover  5:30 to 7:30 PM

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Mortgage Rates Hit New Lows

GettingAMortgage_iStock000004085541XSmallThis is great news for home buyers.  With mortgage rates at new lows now may be the perfect time to make a move.  Could waiting until spring cost you money?  Search all homes for sale in Massachusetts and New Hampshire here.

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Homeowners Net Worth 36 times that of renters

images2 Still renting?  Consider this recent survey of consumer finances which shows that the net worth of homeowners  is, on average, 36X greater than  that of renters.

 

If you’re thinking about buying but need some help getting started contact me at RE/MAX Partners in Andover and start your home search here!

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Top 10 Home Improvement Projects Which Add Value to Your Andover Home

cost vs value of your Andover Home At the top of the list of  real estate questions I’m most frequently asked  is which home improvement projects add the most value to a home.  Each year real estate professionals and home building contractors tackle this question by analyzing  market data across the country.  This is never an easy question to answer because the data varies from region to region as well as from city to city and style and price of the home. Never the less, the information in the COST VS VALUE REPORT is a great resource and includes a wealth of information to help you increase the value of your Andover home.

Some of the top remodeling projects which add value to your home include:

  • Entry door replacement
  • Siding replacement
  • Garage door replacement
  • Deck addition or replacement
  • Window replacement
  • Roof replacement
  • Minor bath and kitchen remodels
  • Bathroom addition
  • Roof replacement
  • Basement remodel

Contact me, Paulette Zuena at Re/Max Partners for questions about your Andover home improvement project and download your COSTvsVALUE Report for New England and the Boston Area here:     COSTVSVALUEbostonma 

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Are you fit to sell?

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Home decorating tips–Downton Abbey Style….

 

You don’t need to be buying or selling your home to incorporate these decorating tips from Downton Abbey.  Check out these luxury homes in Andover,  North Andover and Boxford!

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Are You Fit To Sell?

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