How Much to Save When Buying Your First Home

By Hans Brings
Posted Friday, Mar 29, 2024

It can be hard to know where to begin when deciding to purchase your first-ever home in Massachusetts. One of the hardest decisions is understanding how much you can actually afford on a home. There are numerous factors and expenses that arise when purchasing your first-ever home and it’s important to be properly prepared. In this article, we will go over many expenses to consider for first-time home buyers and how much you should look to save on your new home.

Down Payment in Massachusetts

One of the most asked questions when purchasing your first Massachusetts home is how much money you should save for your down payment. This can be a tricky question for most home buyers and can leave them feeling overwhelmed or stumped. If it is the first time you are purchasing a home then the average down payment is at least 3-6% of the purchase price. However, if you are a repeat buyer then your average down payment is usually 20% or more. Keep in mind that a higher downpayment can help to lower your mortgage and interest payments.

Closing Costs for Your Massachusetts Home

A large cost that most first-time home buyers in Massachusetts forget about is their closing costs. If you are not prepared, then this surprise expense can certainly do some damage and have a large financial impact. The average closing costs in Massachusetts range from 1.3 - 1.56% of the home purchase price. Therefore, depending on the price of your home you can expect to pay large or small amounts on the closing of your home. It's important to keep closing costs in mind when purchasing a home so that you can save up the correct amount of money for your home budget.

Home Inspections

When purchasing a new home it is always important to make sure everything is fully functional and in the shape you expect it to be in. Sometimes you may invest in a home just to find out there is a lot of underlying wear and tear you were not aware of. Therefore, make sure to set aside extra money for a professional home inspection. Home inspections range from $400-$800 and can be even more depending on the overall size of the home.

Investing in Emergency Funds

Lastly, another area that you should be aware of is investing in an emergency fund for your new home as well. When having a new home sometimes problems may arise unexpectedly making an emergency fund a lifesaver at times. It is recommended to save around 3-6 months worth of expenses. This is not a necessary expense however it is an investment that can greatly benefit you and your home in the future.

Get Advice From Waltham, MA, Best Realtor

If you’re a first-time home buyer in the Waltham, MA, area looking for more advice or even your first home then call Hans Brings today! His team will put you on the right path to successfully purchasing your first home in Waltham, MA. Get the most out of your future investment and get in touch with Hans Brings.

How to Add Value to Your Waltham, MA Home

By Hans Brings
Posted Friday, Mar 29, 2024

If you’re in the market for selling your Waltham, MA, house or simply want to improve your property value then you came to the right place. There are numerous ways you can help boost the overall value of your property. Some ways to improve your Waltham, MA, home are more cost-effective than others so it's important to consider your budget. In this article, we will discuss some of the best ways to help boost your Waltham, MA, home value for the future.

Improve Your Waltham, Ma, Curb Appeal

A huge part of improving your home value is making your house a place others want to live in. If your house has amazing curb appeal then more people will be inclined to value it more. Therefore, renovating your home's exterior can have huge benefits for your Waltham, MA, home. Your house will have a more modern look and feel to it that attracts all kinds of passersby. When your home is the nicest looking in the neighborhood then usually it can garner the most property value as well. Some exterior renovations can take a lot of time and money so we recommend starting with smaller changes and working your way up throughout the years.

Maintain Your Waltham, Ma, Home

It sounds very obvious that most Waltham, MA, homeowners should maintain and take care of their homes but, sometimes life gets in the way. Rather than spending large lump sums of money on remodeling projects, you can just maintain the current health of your home. By performing regular maintenance checks and fixes you can avoid major issues arising whilst keeping your home looking beautiful. Potential buyers will love how put together your home is and will be willing to spend more on a well-maintained and cherished house.

Create an Open Floor Plan for Your Home

An upgrade you can make for your home that not only increases property value but may also increase your overall satisfaction with your home is an open floor concept. Making your home more open allows you to utilize more space to do whatever you desire. When selling your home, having an open floor plan will be more enticing to Waltham, home buyers that are viewing your home. Open floor designs are very sought after and people are willing to pay more money for this premium layout. If you are thinking about an open floor plan for your Waltham, MA, home then we highly recommend you do so.

Invest in Smart Home Technology

Technology has truly taken over all areas of our lives. Therefore, having a home that can easily connect to our mobile devices can go a long way for convenience. You can change the temperature, view cameras, turn on lights, and even view your fridge all from the comfort of your electronic device. Living in Waltham, MA is already an added benefit to your property, so implementing advanced technology is that much more of a plus. Smart homes are becoming more common as each day passes. If you want your home to get ahead of the curve and gain more value whilst doing so then smart technology is perfect for you.

Contact a Professional Waltham, MA, Real Estate Agent

If you’re looking to sell your property in Waltham, MA, and want to get the best service and guidance then contact Hans Brings today. His highly skilled team has been helping homeowners and buys in the Waltham, MA, area for years. Get the most out of your investment and call Hans Brings now!