Where's Next?

“But, where will I go?’ is still a question we hear from homeowners who have decided that it’s time to move on, but are concerned about where they will live next.

We don’t know about you, but when we decided to sell our Attleboro home, we didn’t know where we were going either. Cape Cod was never on our list. But, here we’ve been for the last 30 years.

We would guess that most of you never precisely knew where your next home was when you decided that it was time to make change.

The good news is that the supply of homes for sale is increasing.

Last year at this time there were 513 single family homes for sale. This July there was over 660. An increase of nearly 30%.

The inventory of condominiums has increased, too. In July of 2023 there were 124 for sale. This year? 202. An increase of 62.9%!

We’re still not close to pre-pandemic inventory, but those of you concerned about where’s next should feel a little better.

So, what are you options?

An Existing Home

Here are some benefits of buying an existing home.

Join an established neighborhood that you can get a feel for before moving in.

Choose from a wider variety of floorplans and styles.

Appreciate the lived-in charm that only an older home can provide.

Enjoy the privacy and curb appeal of mature trees and landscaping.

In addition to these lifestyle benefits, there’s strategic value to buying an existing home, too. You can always make upgrades to an existing home to give it some of the latest features available. This gives you the best of both worlds: you’ll get the charm, the neighborhood, and over time, you can still add those on-trend elements you may see in a brand-new home. And if you do, you’ll likely increase the value too.

A Newly Built Home

Here are some benefits of buying a newly built home:

Have brand new everything with never-been-used appliances and materials.

Use energy efficient options to save money and leave a smaller footprint.

Minimize the need for repairs and benefit from builder warranties.

Take advantage of builder concessions that can help with affordability.

You may have to wait for your new home to be built, so if you’re moving because of a job transfer or change in your family situation, new may not work for you.

Also, the number of available existing homes is much larger than newer ones or houses that still exist on a builder’s plans.

Bottom Line

If you’ve been delaying marketing your home because you’re concerned about where’s next, you should feel better about your opportunities to find the next house that’s right for you whether you’re looking to upsize, downsize or move to that “someday” area.

Need to talk it through? Let’s connect at 508-360-5664 or [email protected]. We’ve recently “been there, done that” selling that home we bought 30 years to move to something smaller that works for just the two of us.

Talk soon…

Mari and Hank

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. You should always conduct your own research and due diligence before making any investment decision.