Why You Should Buy Property When Interest Rates are Low

If you're trying to buy a new home, it's safe to assume that you aren't suffering from a shortage of advice from friends and family. It seems like everybody has their own personal tips and tricks, and the advice can be as different as the people offering it. Some people claim that a sizeable down payment is absolutely necessary for buying a new home. Others list proximity to school, work, friends, family and entertainment as the most important aspects. There is one thing that most people neglect to think about when it comes to buying a new home, and that's the interest rate on their impending mortgage.

Home and property buyers have lived in a fiscal utopia for the last few years because of the economic downturn. Interest and property rates have been low because of the economy, so it has essentially been a buyers' market for several years. 

The economy is recovering, slowly but surely, which is great news for job seekers and employers, but it could spell bad news for people that want to buy new construction townhomes in NJ. The low interest rates you're seeing now may not be there in a few months, making now a perfect time to pull the trigger and buy your next home.

Don't wait a few more months if you're seriously thinking about buying a home or investing in a new property. Buying a home when interest rates are low can significantly impact your future savings. Low interest over the course of a 30-year mortgage can really add up: consider a $200,000 loan for 30 years. At 3.50%, your payment will be $898.09. Raise that even one percent, to 4.50%, and your payment goes up to $1,013.37. That’s a difference of $115.28 per month, or $1,383.36 per year. Over 30 years, that amounts to $41,500.80 that is in your pocket instead of your lender’s if you buy at the lower interest rate. 

Take a look at our residential homes and apartments at Edgewood Properties and experience luxury living at a reasonable price! Call or contact us today!

On The Hunt: Things To Look For In A Luxury Apartment [Infographic]

Finding a new place to call home can be challenging, however, if you are looking for luxury apartments in New Jersey, check out this infographic to learn about the things to look for!

3 Things You Want With A Condo

Resort-style living is one of the finest luxuries around and so many people strive to achieve this type of relaxed lifestyle. However, there's a misconception that this type of living is too expensive to attain and that is not always true. In order to live more comfortably, it just takes a little bit of research to find the next perfect place to call home. With that being said, have you looked into a condominium?

As you may already know, a condominium complex is typically situated on a large property with individual units that give owners access to shared common space and amenities. Living in a condo can provide you with many luxurious conveniences that you might not get anywhere else. So who wouldn't want to make their lives a little easier? Check out these three things that you want in a condo community!

1. Professional Landscaping

Yard work can take a lot of time out of your busy schedule and choosing a condo community that includes professional landscaping can save you time and money. You'll always come home to a well-manicured property and won't have to get gas for the lawn mower anymore! When you live in a condo that includes landscaping you can rest assured that the leaves are picked up, the grass is mowed and the bushes and trees are always trimmed. Sometimes this type of landscaping service will even include snow removal, so if the winter weather gets bad, you can be sure that your walkway will be cleared!

2. Worry-Free Maintenance

It goes without saying that home maintenance can be a challenge because not everyone knows how to replace a roof, fix a gutter or repair plumbing. By living in a condo that includes maintenance services like these, you'll save yourself from the hassles and frustrations of doing it yourself.

3. Community Features

Since most condo complexes are their own, private tight-knit communities, some will feature amenities that are exclusively for those who live in the complex. These may include things like access to a private swimming pool, fitness center, clubhouse and other community benefits. Why pay for a gym membership when it could be included with your condo?

Just remember, not all condominium complexes are the same and you must do your research to find the perfect one that will enhance your lifestyle. Let Edgewood Properties help you find New Jersey condos for sale so you can start living the lifestyle you deserve!