Worcester County should be at the top of your list of options if you're looking for a place to call home. With 98 towns and cities spread out across 1,511 square miles, there is something for everyone here. Most of all, you can easily find more property for your money and plenty of homes that are certain to meet your lifestyle expectations.
The COVID pandemic created a price equalization effect among Massachusetts cities, suburbs, and exurban communities, and this is readily apparent from looking at Worcester home prices. The introduction of remote work led many to seek houses offering more than just a place to rest their heads. Buyers are looking for larger residences with yards, access to nature, country living, and plenty of open space. Worcester County — especially the Leominster-Fitchburg area — offers excellent homes, land, and an incomparable lifestyle at a price that is hard to beat.
Worcester County's affordable homes
One of the reasons people are flocking to Worcester County is the affordability of housing here. In 2022, the average home price for the towns local to our RE/MAX office ranged from $290k in Athol to $432k in Leominster. At the same time, there were 1,435 single-family home sales, about 60% of which were real estate seekers from Boston. This significant migration was heavily affected by a desire to find more space and an improved lifestyle out of the hectic big-city atmosphere.
The Leominster-Fitchburg area: a great place to live
The area around Leominster and Fitchburg is one of the jewels of Worcester County. It offers affordable housing, outstanding schools, and a quality lifestyle that is hard to find in other parts of the state. Many families are moving here to escape Boston's high cost of living and congestion. With excellent amenities, such as parks, recreational facilities, and cultural events, the area perfectly balances suburban and urban living.
Interest rates and home buying
Interest rates can be a significant factor in the decision to buy a home. While it is essential to understand their impact on your investment, they are not the only factor to consider.
In 2021, it was common for a home to go on the market for what agents would consider a reasonable market value. However, the offers often exceeded the asking price by 10% to 30% or more. However, comparing 2.99% interest to 6.5% interest, at 10% over asking, it takes four years to pay back the difference. At the same time, 20% takes eight years, while 30% takes 12 years.
There may be little you can do about real estate prices, but interest rates vary, and you can always refinance a home when interest rates come back down.
The benefits of working with an experienced agent
Working with an experienced real estate team like David & Fiona King of The KING TEAM, can save you time, money, and stress when upgrading to a larger home with more space. David & Fiona have an in-depth knowledge of the local housing market and can provide valuable insights into different properties' pricing, availability, and suitability. They can also help you narrow down your options and find the perfect home that meets your needs and budget.
Perhaps even more importantly, a knowledgeable real estate agent can help you navigate the complex buying process, avoiding the overwhelmed feelings and confusion experienced by buyers who are unfamiliar with the process. From negotiating the offer to coordinating inspections and closing the deal, an experienced agent can handle all the details and ensure a smooth and stress-free transaction. Get started today!