New Years Real Estate Resolutions
by Tim Ford
Happy New Year! I hope that 2018 was a great year for you and that 2019 will be even better. The Gallatin Valley is a busy place these days. January is a great time to start making goals for the New Year, especially those goals relating to Real Estate.
If the market has been passing you by while you’ve been renting, this is a great time to get your financial ducks in a row and make a goal to get into your own home. While home prices have been rising around town, rents have been rising as well. Even with the appreciation our market has seen, most people find mortgage payments to be less expensive then renting, especially if they can find a roommate or two to help pay the bills.
The great thing about locking in a 30-year mortgage is that your monthly payments are more stable than wondering how much your landlord is going to increase your rent next month. A great first step is to meet with a lender and see what steps would be necessary in order to get pre-approved.
For those households with a growing family, 2019 may be the year to sell and get into something larger and more comfortable. Rising home prices have afforded many families the opportunity to sell their first home and get into their dream home. Winter is a great time of year to start prepping for the big selling season that is just around the corner. Take a look around your home and make a resolution to tackle projects that need to be finished up. Winter evenings are also a great time to start de-cluttering. De-cluttering your home prior to putting it on the market affords the most cost-effective means of preparing your home for sale and getting top dollar.
If you do plan to sell, aim to get your home on the market earlier than others. Many sellers shoot for May and June, but there are often more buyers in the market than homes available in the earlier months like March and April.
Whatever your resolution, I wish a Happy New Year and a prosperous 2019 to you! Look for my article in next month’s issue for a recap of the 2018 Real Estate Market.
As usual, I have included data for the number of homes sold in Bozeman during the first 11 months of 2018. In addition to the 885 homes sold during this time period, another 86 homes are currently pending, or under contract, as of the date of writing this article.
The included data reflects sales of homes on less than and more than 1 acre in the greater Bozeman area, including Four Corners, Gallatin Gateway, Bridger Canyon, and Bozeman city limits. The data includes home sales reported through the local Big Sky Country MLS, and does not include private party sales, Condominiums, or Townhouses.