Baltimore: An Attractive Choice for First-Time Home Buyers
If you ask real estate agents on where could possibly be the best city for first-time homeowners, one of the most common responses would be Baltimore. This is one of the places in the East Coast wherein you can see attractive Baltimore real estate listings when it comes to price. In fact in 2014, the Real Estate Business Intelligence and the National Association of Realtors have ranked Baltimore on the top in terms of affordability for purchasing a home. With such, there is no wonder why Baltimore real estate news is always filled with assertions on how the city keep on attracting more new home buyers.
What the Numbers are Saying
There are solid evidences that can strengthen claims on the attractiveness of Baltimore real estate market. For instance, in March 2015, 2,532 homes were sold, which is reflective of almost 24% of increase in the units sold during the same month in 2014. This is also a whopping 32% increase from sales in the previous month. This only shows that the city is indeed being an attractive destination for home-buyers and such is expected to rise in the future.
More so, the median income is also said to have played a huge role in their real estate market. It is believed that the median income, on average, is 11% above the cost of home ownership, which means that it is entirely possible for its residents to find a home that they can afford. In addition, affordability of cost of living is also high in Baltimore, not only when it comes to buying a house, but when it comes to living conditions in general.
Tips when Buying a House in Baltimore
One of the most important things to do in looking for Baltimore real estate for sale is to pick the specific neighborhood you like. It should be within easy access to places of interest, such as your office, school, business districts, hospitals, and shopping centers, among others.
Rather than looking for properties on your own, a better thing to do is to rely on the professional expertise that can be extended by Baltimore real estate agents. They know the best properties in the area and the best deals because of their network. For sure, they will make it easy for you to find a house that is perfect for your budget.
As you look for Baltimore homes for sale, you should also consider your financing options. Talk to your bank or to any other institution that will make home ownership less of a financial burden for you. Make sure as well to polish your credit history to increase the likelihood of being approved for a loan and to avoid sky-rocketing interest fees.