Tips for buying your First home in Boston
Buying property for the first time can be a pretty stressful experience. You probably have so many questions swirling in your head and are unsure where to start. The prices may come as a shock to you, it might be difficult to pick a neighborhood, or you may just start questioning the very decision to buy instead of rent. However, even if you are a newbie to the real estate buying game, there are certain basic tricks you can employ to make sure your first experience goes without a hitch. These tips for buying your first home in Boston do not differ much from what you should do when buying your first home elsewhere.
Five tips for first-time homebuyers in the Boston area
Define what you want
While you shouldn’t hold on too tightly to the vision you have for your Boston home, it is still good to have a somewhat clear idea of what you want. The first thing you should consider is definitely your budget. It is what will really determine what you will be looking at. Another important part of a first-time homebuyer’s guide to buying in Boston is knowing what neighborhood you see yourself living in. This will be much easier to decide on if you’ve lived in Boston your whole life. If not, you will want to stay on top of all of the information about the different neighborhoods. Finally, you also want to consider the size and type of property you want. You don’t need to have a very detailed idea. However, you want to be aware of what your basic goals and deal breakers are.
Tips for buying your first home in Boston for non-natives
If you’re an out-of-towner looking at Boston neighborhoods, you will want to take into account the surrounding towns as well. One of the basic tips for buying your first home in Massachusetts is to stay open-minded. This is especially true if you have children and are looking for good school districts. Places like Woburn, Stoneham, Wakefield, and Burlington all boast great schools and a median sale price under $600,000. They are also very close to downtown Boston – 10 to 15 miles away. Another thing to consider if you are not a Boston native is the logistics of your relocation. While you can handle many things related to your veon your own, long relocations require professional help. Not only would you do well to hire a moving company, but you also want the help of a local realtor.
Get a good real estate agent
A first-time homebuyer’s guide to buying in Boston wouldn’t be worth its salt if it didn’t highlight the importance of having a good realtor. Not only will they be able to take you to showings that might otherwise elude you, but they will also be your connection to any other people you may need help from. Think attorneys to review your contract or lenders if you still haven’t secured the financing. They can also help you narrow down what kind of property you really want. A local real estate agent will also be particularly helpful for out-of-towners
Finding the perfect place and making an offer
Even if you have acquired the services of a real estate agent, there are still things you can do yourself to find the perfect home. There are all kinds of websites that list homes and the weekends are typically spent on visiting open houses. If you have your eye on a property, it
might be a good idea to take a walk around the neighborhood in the off-time. Take a look at what the surroundings are like and if there are all the facilities you see yourself requiring. Once you feel like you’re ready to make an offer, it is time to confer with your agent and work out the kinks. Your agent will send in the offer and you usually pay a deposit as well (typically not more than $1,000).
Once your offer gets accepted, you will be allowed to do due diligence. This typically means ,getting an expert to inspect the property. At this point, you will also bring in the real estate attorney. They are technically representing the bank’s interests. However, they will review all of the documents relating to the purchase and can be of great help to you. After this, you will sign the purchase and sale contract and put down an additional deposit. This is usually 5% of the price. Signing this is legally binding. After the loan is finalized, you will be able to close on thevproperty.
Shelley Irving is a writer now living in the wider Boston area. Before committing to writing full-time, she worked in real estate. Now she often works with companies like Moving Kings NC to help inform people about the ins and outs of moving and home buying.