Friday, March 21, 2008

Home Prices and Creating Extra Living Space

Home prices in the Quabbin area are stable. Just this week, in the National Association of Realtors magazine, an article showed the median prices of area homes, by county. The news was good! Why isn't this news reflected in the national media? Because they are not local. All real estate must be evaluated locally, not nationally. The article said Quabbin area prices are only slightly lower in some areas, like Franklin county. But the good news is that prices in one local county actually rose! That means home prices for those who want to buy or sell their home will, on average, pay or receive slightly more money this quarter than they would have in the previous quarter. That’s great news! It means things are ok, the sky is not falling. It tells me that if all other things in your life are aligned, then this is the time for you to buy or sell your home. If you have out-grown your home, buy a bigger one. The selection is unbelievable, better than it has been for years. But this only applies if you can afford the higher payments, if your job is stable, and your financial history is clean.

If the above factors are not the case, then maybe adding onto your current home might be a better solution for you. There are many ways to make your current home more livable. One way to utilize wasted space is to create more living space by better utilizing the un-used space around your home. Do you have a basement, garage, attic, super-high stairway ceiling or wide hallways? All these areas can be utilized to store things out of the way so you have more living space in the rooms you use every day. I can provide the name of a great contractor if you or your spouse don’t wish to do the work yourself, just ask!

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