Blog :: 2020

4 Steps to Take Before Buying Your First Home

 

Buying your first home is a significant event in life. Although this event is an exciting milestone, the process of buying a home can be intimidating and stressful. Figuring out how much you’re willing to spend, how you’re going to fix any flaws in your credit, and saving for a down payment can all add up quickly. Instead of rushing, take your time to do proper research and take some advice from a Waltham Realtor who is ready to help you figure out all of your finance options when it comes to buying your first home. Here are 4 steps to take before buying your first home to ensure your finances are in order and you’re ready to take this big step!

 

Boost Your Credit

Your credit score is a huge factor in whether or not you are ready to buy a home. Your credit score determines if you are qualified to have a mortgage and if so, for how much. To qualify for the lowest down payment you must have a credit score of at least 580, although that will not get you the best interest rates. Waltham real estate suggests having a credit score of at least 740 to get the best interest rates possible.

It is important to take the steps to boost your credit before you start the process of buying a home. The higher your credit, the more money you will save in the long run. Waltham real estate agents can assist you in ways in which you can boost your credit.

 

Know Your Budget

It is important to know what you can afford and what you cannot before starting the process of buying a home. The down payment is just one of the many payments you have to make when you are purchasing a house. Each month you will have to pay insurance, interest, principal, and property tax and all of these must be considered when you are figuring out your budget. Hiring a Waltham Realtor can ensure you are budgeting for the proper amount which will allow you to find the perfect home for the perfect price for you.  

Do your research beforehand and learn about the average cost of homes in the neighborhood you are looking in. It is recommended by Waltham real estate to always do home research outside the neighborhood you are looking in. Keeping your options open can surprise you and result in finding a bigger home that is still within your budget.

 

Understand the Process

When going through the process of buying a home it is important to not rush. Sometimes the process can take longer than expected but one must remember that the best outcomes sometimes take the longest. Once you make an offer on a home your Waltham realtor and the lender will be able to give you a timeline of what to expect going forward and how long things will take. Always take a Waltham real estate agent’s advice when it comes to searching for a lender to work with.

 

Let Your Lender Work for You

Once you have made it to the stage of your offer being accepted, this is when things start to get busy and there becomes a lot of moving parts. You’ll have to fill out many forms and documents as well as find a settlement date. Inspections will also have to be done and then you’ll need to start the process of the move itself. Let your lender guide you through all the moving parts so nothing is lost in the process and you’ll be able to complete everything on time.

 

To begin the home buying process contact Hans Brings, your #1 Waltham real estate agent! Your Waltham Realtor will ensure you get the best home for the best price and everything in between goes smoothly. Call today at 617-968-0022 or email Hans at hans@hansbrings.com.

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    Buyers, Don't Make These House Hunting Mistakes!

                                                                                  

     

    Buying a home requires a lot more than just finding a home and writing a check. It takes a lot of planning and research to ensure you’re aware of everything that comes with and around that property. It’s important to be prepared before you begin your search so you can make sure the process goes as smoothly as possible. These tasks from a Waltham Realtor will help set you up for success when it comes time to making that purchase.

    Avoid These 5 Mistakes

    1. Not Hiring a Buyer’s Agent

    Some people who are searching for a home choose not to hire a buyer’s agent because they think they’ll be able to get a better price by working with the listing agent directly. This is indeed not true. Listing agents act in the best interest of the seller of the home, not the buyer. Hiring a professional Waltham real estate agent will benefit you in all areas. A Waltham Realtor will help you find homes that fit your requirements and will not waste your time showing you homes that don’t. Since buyer’s agents are familiar with the Waltham real estate market, it is easier for them to negotiate prices for you.

    1. Not Getting Pre-Approved for Mortgage

    No one wants to find a dream home, fall in love with it and then find out they are not approved for the amount of money they need to borrow. It is in your best interest to get a mortgage pre-approval before starting your home search. This will also ensure that if you find a home you love, you are able to make an offer on it right away. Your Waltham Realtor can walk you through the process of getting your pre-approval.

    1. Settling Because You Think There’s Nothing Better

    The inventory of homes changes often throughout the year. At times, specifically in the winter and spring, there is a low inventory of homes for sale making it more competitive when searching. At other times of the year, like the summer and fall, there are usually more homes on the market leaving you with more choices. Don’t settle for a home that you kind of like just because you are in a rush to buy. The market is constantly changing, and your Waltham realtor will make sure you to help you find the perfect home for you.

    1. Thinking You’ll Fix Everything Up

    Sometimes you come across a home that is perfect for you in most aspects but there may be some work that needs to be done. This is a normal case in which people buy homes and then fix them up to their standards. However, people need to be careful to make sure that they don’t underestimate how much time and money would need to go into the renovations they want. Make sure you have enough in your budget to complete all the tasks that you want.

    1. Dragging Your Feet

    Although you don’t want to rush into buying a home, you also don’t want to take too long to make offers. It can be heartbreaking to constantly get beat out by other people looking at the home just because you were dragging your feet in the process. Hiring a Waltham Real Estate agent will help you stay on track and diligently get the home you have always dreamed of.

     

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      5 Strategies to Create a Bidding War on your Property

       

       

       

       

       

       

      Having a bidding war on your home is something that makes home sellers ecstatic. Having a bidding war on your home comes with many benefits when it comes to selling, the obvious reason being getting more money for your property. Other benefits include having more leverage with terms of the sale like dictating deposit amounts, dates, etc. Here are 5 strategies a Waltham Realtor suggests to create a bidding war on your property.

       

      Price it right

      Pricing your home at the right amount or even a little less is more likely to bring in a lot of buyers. If people know they are not the only ones interested in your home, they will automatically become competitive and most likely raise their offer to beat out others. Everyone wants what other people want, so it’s only natural for people’s competitive side to come out. Pricing your property right means pricing it in accordance to what similar homes have recently sold for in the neighborhood and surrounding neighborhoods. It is not recommended to price your home higher just because of one feature that you believe is good enough to do so. Some people may not agree, and you could suffer in selling your home because of it.

       

      List in the winter

      It is possible to create a bidding war on your property at any time of the year, but Waltham Real Estate agents suggest you can add even more to your chance if you list in the winter. In the winter and early spring, inventory is lower than in the summer and fall. Because of this, when buyers have less to choose from in the winter and early spring, they tend to bid more money on properties that they like knowing that others are also interested in those properties. Bidding wars slowdown in the summer because there are more properties up for sale.

       

      Market more than others

      There is more to marketing your home than just putting it on MLS. Top real estate agents have special agreements with the top websites like Realtor.com, Trulia, Zillow, etc. They make sure their listings come up at the top of these websites when people are searching. Although most agents have access to these websites, they don’t always take advantage of them. Taking advantage of these websites is crucial if you want to market your property better than others.

       

      High-quality photos and videos

      In addition to marketing your property on these websites, Waltham real estate top sellers recommend to post high-quality photos and maybe even videos to social media. Don’t just post these on your personal page and leave it for just your followers. You want to boost your posts and target them to the right audience so that you put the listing in front of people who are actually looking and are more likely to buy.

      Hire an experienced Waltham real estate agent

       

      Hire experience.

      An experienced real estate agent will know exactly how to negotiate and find the best buyer that will pay the highest price possible. This is very important when selling a property because you need an expert to guide and help you through the selling process to make sure you get the best outcome possible. Having an experienced Waltham Realtor will keep you on the right track.

       

      If you are looking to buy or sell a house in or around Waltham, MA be sure to contact Hans Brings!

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