5 Things First Time Home Buyers Need To Consider
Buying a home for the first time can seem like a daunting task. After all, there is probably no other time in your life when you'll spend this much money. Real estate is seen as one of the safest investments there are but without taking proper time to think about the decision, your investment could be taking on water fast. So what are some helpful tips for first time home buyers in South Boston to consider?
- How Much House Can You Afford?
- What Should Your Down Payment Be?
- What Are Some Of The Biggest Red Flags To Consider?
- 15 or 30 Year Mortgage?
- Knowing When It's Time To Call In An Expert
- How Much House Can You Afford?
The answer to this question is highly dependent on your personal situation. For example, the old rule of thumb is 28 percent of your monthly gross income is what can be put towards a mortgage. This means that if you make $5,000 per month, or $60,000 per year, you can reasonably afford a mortgage of $1,400 per month.
This rule of thumb fails to include any debt however. If you are still working on paying off things like credit car debt or student loans, this percentage of monthly income may be far less. They key is to create a budget and pick the value that best fits your specific situation.
What Should Your Down Payment Be?
Having a large down payment is nice because it lowers monthly payments and saves the home buyer from paying as much interest over the lifetime of the mortgage. An old...
Is Single Family Home Ownership As Appealing as Condo Living?
It's getting harder and harder to find Boston homes for sale since the area ranks second in the housing industry in the United States.
Property investors have a few tricks up their sleeves to drum up more interest in single and multi family home ownership. When you find your homes for sale in Boston sitting longer than you want, then a couple of upgrades can make a massive impact.
The key is understanding why some buyers go for a condo so that you can make your houses fit those needs and stand out.
Why buyers go for a townhouse instead of a house?
There are three big reasons why Boston real estate firms are finding more people interested in condo living over single family homes. Price, maintenance, and close quarters are often more inviting than complete privacy or yard space.
Some individuals feel more comfortable with neighbors on either side instead of a need for grassy yards, outdoor gardens, and expansive decks. Many people expect city living to be tight with someone on the other side of the wall.
One way to improve appeal is to boast about the amenities near your home for sale. Having little or no yard work to do after a long week of studying or working is very alluring.
Low-maintenance landscaping can make a home for sale more appealing to condo lovers
One of the most significant advantages of living in a condo is the maintenance coverage. These units save the owner time, hassle, and money. To increase the chances that these buyers will consider your property, you can use hardscape to reduce the time spent...
Boston Home Prices Continue To Soar Despite Recent Rough Weather
Did you know that homes in Weymouth, Massachusetts were in the path of 16 significant weather systems in the past year alone? CNBC says that’s a record for the city.
Would it be surprising for you to find out that meteorologists, real estate agents, city planners, and developers expect this trend to continue rising over the foreseeable future?
The forecast puts builders in a tough situation. Developing on and near the waterfront is excellent for the economy, brings in tourists, and increases luxury living in the city, but changes to building codes are necessary to help withstand the harsh weather that is coming.
The natural disasters not only affect residential buildings, and business owners are finding out that they are paying more for repairs, flood insurance, and disaster relief.
Homes That Sit Near Water Are Warming Fast
Coastal waters are not getting as cold as they did ten or twenty years ago. In fact, the area is close to the Gulf of Maine, which happens to be warming faster than almost every other state in the country.
CNBC talked with experts from the National Oceanic and Atmospheric Administration or NOAA who felt that these changes are here to stay. If the area continues to experience hurricanes and strong nor'easters, then new construction must be ready to withstand the severe weather.