Understanding the general direction of the current housing market conditions is of vital importance to both buyers and sellers. If you are looking to buy or sell a home in the Branford CT area I want to be prepared to make sure that you are given the best selling or buying experience with expertise and knowledge to guide you along the way.
Should Branford CT Boomers Buy or Rent after Selling?
In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home.
“Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent…
Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”
This makes sense in the short term for many reasons. If you are moving to a different part of town or a new region of the country, you may decide to rent until you pick the perfect home in an area you love. However, is renting a good long-term strategy?
A mortgage payment remains fixed. Rents, however…
The Census Bureau recently released their 2017 third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:
As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether you should rent or buy your next home, you should take this into consideration.
One way to protect yourself from rising rents is to lock in your housing expense by buying a home instead of renting. Let’s get together so we can help you decide what the best step is for you and your family!
If you are a Branford baby boomer looking to buy a condo or downsize to a single story home here are some great condos and single story homes under $300,000.
Single Story Homes Under $300,000
Condos Under $300,000
This information is brought to you courtesy of Jamie Dumaine-Russell at RE/MAX Alliance. I am happy to be your neighbor and friend in real estate serving New Haven, East Haven, Branford and the Greater New Haven area including Hamden, North Branford, North Haven, Guilford, Madison, Milford, West Haven, and Wallingford.
Please remember me for all of your real estate needs and give me a call at 917-705-5675.