On a lazy afternoon, you curl up in the sofa in front of the window, with your Kindle and a cup of steaming Earl Grey. Can life get any better? Yes! Add a breathtaking view in front of you. Perfect!
It’s no surprise that a view makes a home more attractive to buyers. But a view of what, exactly? Ocean waves, snowy mountains, or just the trees in your own backyard?
It turns out that homes with a view of the urban jungle sell the fastest—at just 83 days on the market. If you guessed that homes with ocean views would be most in demand, well, they sit on the market for 98 days on average. But let’s get real; the median price of $749,000 for an oceanfront home is clearly not for everyone.
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 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.”
Christina Boyle, a Senior Vice President, Head of Single-Family Sales & Relationship Management at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:
“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
1. Buyers relocating for job purposes may be in a hurry to get settled into a new home before the new year, particularly if they have school-age children.
2. Buyers who are looking for a home during the holidays tend to be more serious and in a hurry to buy.
3. Some stagers argue that homes show better when they’re decorated for the holidays and welcome buyers in.
4. Sellers will likely have less competition against other home sellers during the holidays. The supply of listings tends to increase after the holidays and new-home construction likely will pick up then so home sellers will compete against more homes for-sale.