Are you looking for a new property to call home? Charlotte, North Carolina has continued to be a perfect location for home buyers looking to upgrade their lifestyle and move into their dream home.
In fact, Charlotte ranked in the Top 5 Best Cities for Young Professionals with factors including happiness, work-life balance, compensation and growth opportunities, as reported by Forbes.com.
Not sure about making the move to Charlotte? Aside from being a great place for young professionals, bizjournal.com also cited Mecklenburg County in Charlotte as one of “The 10 Counties with the Highest Purchasing Power”. Other counties on the list included: Wake, Union, Camden, Orange, Chatham, Mecklenburg, Gates, Davie, Dare and Lincoln.
Mecklenburg County in Charlotte is a great location for everyone to explore and enjoy. There are lots of things to see and do for visitors of all ages, and citizens of the area are always happy to extend a warm welcome to new homeowners.
The travel section of the U.S. News & World Report cited the “Top 10 Best Things To Do in Charlotte”, with the list including lots of sports events, historical sites and museums, great areas for outdoor hikes and nature-observing and more. Those looking to entertain younger crowds will also have lots to do, with lots of family-friendly shows, a great theme park and educational events. Charlotte truly is a place for everyone.
Just a short list of the many places to visit include:
U.S. National Whitewater Center
Mint Museum Uptown
7th Street Public Market
Levine Museum of the New South Charlotte Motor Speedway
Carolina Raptor Center
NASCAR Hall of Fame
Carowinds Roller Coaster Theme Park
The housing market has stabilized, leading more and more homeowners to consider moving up to the home they have always dreamed of. Research shows that prices are still below those of a few years ago. Interest rates have stayed near historic lows.
Regarding the latest weekly mortgage rates data from Freddie Mac, it has been explained that the 30-year fixed-rate mortgage averaged 3.61% last week, slightly down from the week before (3.66%), and nearly 20 points lower than a year ago (3.80%).
Sellers should realize that waiting to make the move when mortgage rates are projected to increase probably doesn’t make sense. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain budget for your monthly housing costs.
Wondering why it’s such a great time to quit renting and start owning?
Trulia also added on their Rent vs. Buy Report that:
Homeownership is cheaper in comparison to renting with a traditional 30-year fixed rate mortgage in 100 large metro areas in U.S. In terms of how much cheaper homeownership is than renting, the nationwide average is 36%, with Houston as high as 46%. In comparison, it is 5% less expensive to rent than own in California.
Here is a chart detailing the buyer’s purchasing power, as explained by Freddie Mac:
According to Freddie Mac, the current 30-year fixed rate is approximately 3.75%. With each quarter of a percent increase in the interest rate, the value of the home you can afford decreases by 2.5% (in this example, by $10,000).
Freddie Mac predicts that mortgage rates will be closer to 4.7% by this time next year.
If you have been thinking about making a change, there is no better time than now! Take advantage of the current housing market conditions and start moving towards your dream home.
It has been expressed by many real estate professionals that buying property gives homeowners an edge. Many homeowners in the U.S. show their confidence, as Americans rank real estate #1 in long-term investments. A survey performed by the Gallup organization found that 35% of votes went to real estate being the best investment, followed by stocks & mutual funds, gold and savings accounts or bonds.
To make moving up easier for you, start checking out your options with our listings below! Not seeing something you like? Feel free to browse through our long list of homes for sale in North Carolina. Properties for sale include:
25450 Seagull Drive, Lancaster SC 29720
4 Bedroom | 4.5 Baths | 1 acre Lot
Waterfront home on a dockable lot. Get a walk out basement, custom oak cabinetry in kitchen area, 3 bigger rooms with its own bath suite.
5120 Sand Trap Court, Monroe, NC 28112
4-5 Bedroom | 3.5 Baths | .21 acre Lot
Home on Golf Course, with lots of natural light, bedrooms with walk-in closets, has an open layout and lots of harwoods.
Would you like more real estate updates and reports for Charlotte and the surrounding communities? Call us today at 704.997.3794 or message us here! We will be more than happy to assist you and give you some free planning resources.
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