Interest rates are low, we are changing our work habits to include more telecommuting, less time spent in our traditional office location and spending more time at home. With these recent changes, it allows for living further from the office, as we will only make that commute a few times a week, if at all, moving forward. So, we can start looking at homes and communities that can help us with other amenities we are looking for or would like to enjoy. Maybe you are looking to upgrade to a newer home, one without the higher price that comes with living in the city or moving from private school and the cost of a private school to a community where you like the public schools’ options.
As more people start to work at home, clients are starting to look for homes that have a home office, sometimes two areas in the home that both spouses can have a separate place to work in. In addition, as we spend more time at home, other amenities such as bigger yards, pools, home theater rooms, or a place to setup your home gym and exercise area may become important as well.
The real estate market has stayed strong during the coronavirus pandemic and a lot of that has to do with our life changes of working from home and of course mortgage interest rates that we have never seen before. As a buyer, if you are looking to upgrade to a new home that has more of the features that compliment your new work environment, take advantage of an historical low interest rate, this is a great time to purchase that new home.
For more information on interest rates and mortgages, be sure to look at our blog in this quarters newsletter on mortgages, and feel free to reach out to and I will be to provide you further information and answer any questions you may have.