In today;s blog post I’ll go over the necessary steps in buying downtown Boston real estate.
Meet with a mortgage broker and find out how much you can afford to pay for a home.
While knowing how much you can afford is the first step,Beacon Hill condo sellers will be much more receptive to potential buyers who have been pre-approved. You’ll also avoid being disappointed when going after Boston condos for sale that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the Midtown condo you’re interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.
Make two lists. The first should include items you must have (i.e., the number of bedrooms you need for the size of your family, if accessibility is a factor, etc.). The second list is your wishes, things you would like to have (pool, den, etc.) but that are not absolutely necessary. Realistically for first-time buyers, you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.
Consider having your own Boston real estate broker represent you, one who is working for you, the buyer, not the Back Bay condo seller.
In a convenient location, keep handy the items that will assist you in maximizing your Boston condo for sale search efforts. Such items may include:
Are the rooms laid out to fit your needs? Is there enough light?
Instead of thinking with your heart when you find a Seaport condo, think with your head. Does this home really meet your needs? There are many houses on the market, so don’t make a hurried decision that you may regret later.
A few extra dollars well spent now may save you big expenses in the long run. Don’t forget such essentials as:
All the above may seem rather overwhelming. That is why having a professional represent you and keep track of all the details for you is highly recommended. Please email me or call me directly to discuss any of these matters in further detail.
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