The start of a new year is a good time to take stock of your financial goals, including your real estate holdings.
Now's the time to set your 2025 real estate goals. Whether you're ready to become a first-time homeowner, trade up to a new home or add to your investment portfolio, a well-thought-out plan of action is key to realizing your real estate objectives this year.
Become a Homeowner
If you’re currently renting your home, ask yourself if you're ready to become a homeowner. While housing prices have increased significantly over the past several years, the rate of price acceleration has slowed. Mortgage interest rates, which were somewhat erractic last year, are expected to hover around 6.5% in 2025. If owning a home is one of your goals for the new year, you’ll want to start working with an agent sooner rather than later. You should also meet with a lender to determine your budget and get prequalified. Remember, the best time to own a home is always as soon as you are able!
Tip: Use our Rent Accumulation Calculator to see how much money you're spending on rent that could be going toward a mortgage instead.
Find a New Home
Oahu single-family home and condo median prices increased slightly last year, ending 2024 at $1.1 million and $510,000, respectively. With low inventory for single-family homes and high property values, many homeowners may be able to leverage the equity in their current homes to move into a new home that better suits their needs. Think you don’t have enough home equity to trade up? You might be surprised to learn how much your home has appreciated!
Tip: Use the Locations Home Valuator to get an instant, free home valuation.
Start or Add to a Real Estate Portfolio
If you’ve been thinking about purchasing your first investment property, this could be the year to turn your dream into reality! Investing in a rental property now will allow you to take advantage of growing equity as prices rise. Investment properties have other perks, too, like tax benefits and added monthly income. If you already own real estate investments—whether in Hawaii or somewhere else—the beginning of a new year is a good time to examine your portfolio and note how your investments are performing.
If you have an underperforming property, or one that may require costly maintenance in the near future, you may want to consider using a 1031 exchange to secure a replacement property. Whether you’re a seasoned investor or a first timer, you’ll want to partner with a Realtor who can match you to an investment property that will best meet your needs. Don’t wait—make your plan today!
Find a Trusted Real Estate Partner
Once you’ve settled on your real estate goals for 2025, it’s time to make a plan. If you don't have a relationship with a Realtor already, you can search for a Locations agent by office location and language spoken. We suggest "interviewing" a few agents until you find the best match for your needs.
If you're new to homebuying or real estate investing, we also suggest attending a free Locations First-Time Homebuyer Seminar or Real Estate Investor Seminar, which are held throughout the year. Locations also hosts educational real estate seminars for seniors and Japanese buyers.
Tip: Register for a Locations Seminar that aligns with your real estate goal. More dates will be added throughout the year.
