http://www.youtube.com/watch?v=2YjILjr5HaQ&width=640&height=362&autohide=1&theme=light&autoplay=1 Get in touch with a Boston area Accredited Buyer Agent (ABR)
So You Want To Buy A Boston Area Home
Hello! Feeling stressed because home shopping isn't what you're used to?
No doubt about it, buying a home is a major emotional and financial undertaking. You want a great home with fair terms for the best price, but youre unsure HOW to buy.
Let me help. Buying isnt difficult. Its just a 4 step process.
- You need to prepare your finances
- You need to decide whether or not to hire an agent
- You need to mind the important home search factors
- You need to make an offer and close the deal
So what should you do to prepare your finances?
- However you decide to finance your home, it's important to start with healthy savings.
- Savings are needed for a down payment as well to cover unforeseen problems or repairs.
- Savings translate into more flexibility from lenders on factors like earnings and credit.
Improve Your Credit Score
- The better your credit score the lower your payments will be.
- Months prior to buying, boost your score by settling debts; refrain from new credit, closing accounts and major purchases.
Having prepared your finances, it's time to get a lender's pre-approval which is the complete measure of the home you can afford. A pre-approval positions you to make a quick and serious offer when the time is right
Get Ready, Get Set, Be Patient
- If you haven't already put your current home on the market, or be ready to do it at a moment's notice.
- If you rent, be prepared to break your lease or move to a month-to-month agreement.
FYI: The average homebuyer searches 12 weeks and previews 10 homes before closing a deal, however with Boston area's low inventory it can take much longer.
As you can see preparing your finances gives you a strong foundation for your home search and will keep you realistic about your options.
So will you need to hire a buyers agent?
With all the raw real estate data online it's tempting to think that you can buy on your own, however most buyers decide to hire an agent. Here are a few reasons why:
- Market Expertise - A good agent has local market awareness you can't get elsewhere like what is/ was/will be available and how much it should cost you.
- Professional Negotiation Skills - A good agent knows when to sign, when to wait, and for how long to get you the right home at the right price. Plus, your agent is obligated to protect your financial interests.
- Law and Contract Knowledge - A good agent knows about contracts and changing regulations, ensuring you don't sign a bad deal.
- Referral Network - A good agent is immersed in real estate and can connect you with quality professionals you can trust for all your home buying needs.
So what factors are important in searching for a home?
Location, Price, Size/Type and Condition
- Location - This is the most important factor and the one that can't be changed. Weigh commute, schools, public services, shopping, amenities, ordinances and restrictions as well as crime.
- Price - While there may be room for negotiation, your budget has limits and don't forget about property taxes, association fees and insurance.
- Type & Size - Homes come in all types, ages and sizes. Which is right for you? Which fit your near term plans like marriage, children or retirement?
- Condition - Most homes have defects. Some can be easily fixed, while others are deal breakers. Until you can have an inspection keep an open mind and trust your own powers of perception in decision-making.
So what factors are important in making an offer and closing a deal?
Research Your Offer
- Study recent sales trends for similar homes in the area. - Proceed with caution using sites like Zillow and Trulia which tend to offer outdated data.
- Have your agent do a comparative market analysis to help determine your desired home's worth. - FYI: With Boston area's low inventory and multiple offer environment, you may need to bid more than the list price to get your property
- Hire a professional home inspector. - While your own powers of perception are a good start, there is no substitute for an inspector's assessment of condition to help you come out on top. A good agent will help you manage the settlement process and work in concert with your lender and lawyer. Together your team will see you through to the day you close the loan, transfer title and take ownership.A good agent will stay in touch with you long after the closing to offer advice, provide referrals and attend to any lingering paperwork.
So what are you waiting for? Now that you know how to sell, let's start the process of finding you your new Boston area home!
My job is to make buying easy and enjoyable as possible for you. As your agent, I will be your tireless advocate, ensuring that you buy a great home with fair terms for the best price.
Please contact me for a free consultation I look forward to meeting you.
Joe Schutt, Realtor
30 Newbury Street 3rd Floor Boston, MA 02116 617.833.3376 | firstname.lastname@example.org