Bellingham is a great place to live! I have lived and worked in this area all my life. Projections put forth by the local "experts" indicate there will be a housing shortage in Bellingham in the years to come. The City will not allow connections to to City utilities outside the city limits, so this is putting pressure on infill within city limits. Developing property outside the City presents it's own set of challenges due to increased uncertainty regarding water rights and if drilling a well for drinking water will be allowed in the future. Wetlands, watershed and critical areas protections create challenges for future development inside City limits. With the average single family building permit in the city $25,000 plus, new construction and affordable housing is hard to come by. With a growing population and limited new construction and development,I predict housing prices in Bellingham will continue to rise at a steady pace until around 2020. In my opinion, now is the best time to buy. I don't see prices or interest rates being any lower than they are now. I am a local Realtor in Bellingham. Let me know if I can be of further assistance as you explore relocating to this area.
Emily – hi there …have you had any success finding a new home to buy ? Do you still need any assistance ? Thanks for the consideration
WA MLO #278613
Eagle Home Mortgage
2200 6th Ave #100 Seattle WA 98121
w 206 714 9745
Buying in Bellingham Wa should be a reasonably safe bet. Realize that you'll be paying rent somewhere if you don't buy. A purchase comes with many benefits including the tax benefits you don't get from renting, appreciation (in most cases) and the intangible of pride of ownership.
Do your homework, learn the market, work with a great local professional and listen to their advice. Your biggest decision will be who you choose to work with. Not all agents/brokers are equal. A great one can give you useful advice and puts your needs first. Best of luck and welcome to Washington.