Buying a New Home in New Hampshire This Year? Read This First.
2020 brought us several new lifestyle and housing trends that are carrying into the new year. The most common change is the ability to work from home more frequently, and not just under special circumstances. No worries about traffic and commutes; as long as your high-speed internet works, professionals across industries are realizing they can live just about anywhere.
And if you can live anywhere? It’s no surprise people are choosing New Hampshire. We might be biased, but what’s not to love about an easy drive to the mountains, lakes and ocean? Hiking, skiing, beach days, bike rides, boating, and so much more… right in our own backyards. Homes in New Hampshire often also come with more outdoor space, perfect for kids’ play areas, family gatherings, and extra privacy. But there’s no need to sacrifice access to major cities when you choose more rural living in the Granite State — they’re a short flight or road trip away. The best of both worlds.
As our priorities, needs, and desires have changed, so has the housing market. There are many reasons this is a great time to look for your dream home. Interest rates are at historic lows. Even if they start to rise again this year, rates will likely remain lower than previous years for a bit.
Low interest rates usually put housing in high demand. And high demand almost always means the inventory of homes for sale is too low to keep up. New Hampshire’s real estate market is still red-hot, with average prices increasing steadily through the end of 2020. The imbalance of supply and demand — making it a sellers’ market — puts a lot of pressure on buyers and creates stressful competition. Avoid bidding wars and consider new construction homes.
The global shift over the last year to making almost everything remote and virtual has prompted online enhancements. That includes all things related to real estate. Digital tools are making the whole process of finding — and buying — a home so much easier. In an effort to continue offering a high level of service to prospective buyers from a distance, you can now visit a model home or ‘walk through’ a floor plan virtually. It’s a time-saver to be sure: no more committing weekends to open houses or showings of homes that aren’t even close to a good fit for you or your family. Banks, credit unions and mortgage companies are putting the vast majority of the home buying and mortgage approval processes online – you can even use your phone! Meetings can be conducted virtually and if you are buying new construction with LaMontagne Builders, you’ll have a private visit to our Design Center to select your fixtures, countertops, flooring, finishes, and more.
So are you ready to find a new home? Check out the roadmap we outlined for interested homebuyers last year — it’s a new year but the same advice still applies. We wish you well!