Bigger Houses, More Property: Suffolk County Residents Look to Upgrade
With attractive home values and appealing neighborhood benefits like walkability and access to entertainment, Boston residents have a lot to be thankful for. It may sound out of the ordinary, then, for Suffolk County homeowners to leave a good thing behind.
A recent Hometap survey revealed that 40% of Suffolk County residents plan to move in the next five years with 60% of those looking elsewhere in the state, citing bigger houses and more property as the motivation. However, it’s worth considering other ways to fund your dream home before selling a lucrative property.
Residents in the area love Suffolk County for a number of reasons:
Location, Location, Location
Suffolk County has become a hot bed of homebuying activity. With residents reporting a 7/10 overall satisfaction rating when it comes to their neighborhoods, it’s no surprise that young and older buyers alike are on the lookout for homes in the area.
Access to Everything
With good walkability to local shops and restaurants, Suffolk County is a welcome respite from the confines of your car.
More Time at Home
Low commuting times to and from work mean more time spent with family and friends, enjoying the creature comforts of your home.
Rising Home Values
Perhaps the most attractive differentiator for Suffolk County is increasing home values. With greater demand to buy in the area, those seeking to sell are seeing higher resale numbers than ever. Homeowners in Massachusetts have cause to celebrate their investment as they’re poised for continued growth.
When a House Is a Home
Increased demand for Suffolk County and its nearby towns should have homeowners’ ears buzzing.
Whether you are planning to stay to ride the wave of rising home values or are considering a move, it’s worth investing in the upkeep of your home to maintain, or even increase, property value.
You may be sitting on serious equity and can use that—rather than savings—to fund home maintenance or renovations. After all, a house can only become a home when you make it one. However, if you’ve really got your heart set on a larger home or bigger backyard, you can use equity built in your current home to fund a second property.
With no monthly payments or interest, a Hometap Investment can be a smart solution.
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The opinions expressed in this post are for informational purposes only. To determine the best financing for your personal circumstances and goals, consult with a licensed advisor.
Hometap is made up of a collaborative team of underwriters, investment managers, financial analysts, and—most importantly—homeowners—in the home financing field that understand the challenges that come with owning a home.