To all our clients past and present,
Happy Valentine’s Day!
Thank you for your business, friendship, and referrals! We value your business and appreciate the trust you instill in us!
Laurie Williamson – Team Leader
Kelli Taylor – Buyer Specialist
Rising rents—the very motivation driving many young adults towards homeownership. This may also be a major reason they are not buying, at least not yet. Rising rents have become a trap, stealing disposable income that could be saved for a down payment. We are here to help! We don’t want you to fall into the trap.
So what’s the back story? Boston is notorious for high rental rates, with an average rental cost for a one bedroom costing $1,979. The best solution, buy instead of rent. No only are you going to save a ton of money, when you buy a home there are numerous financial incentives available such as tax write offs and earning equity in you home.
Studies have shown that over the span of a 30 year mortgage, a homeowner would spend $540,000 on a purchase as compared to $900,000 a renter would spend for the same time period.
So, what is a renter to do? Start saving as much as possible, even by making small changes to your habits. In this article, we outline simple ways to start saving for a down-payment. Additionally, lower down payment options are readily available for borrowers that qualify. For more information about loan down payment options, click here.
Schedule a buyer consultation. Don’t be shy. Even if you have a small amount saved up, reach out to us now so we can help you achieve your goals sooner! Click here to schedule a free consultation with our team!
Buyer Specialist, REALTOR®
Agent Lic# 9540818
Company Lic# 9499
Decide What You Want.
Where do you want to live? Do you want a condo, or a single family home? City or ”the burbs”? Do you like to entertain? Do you want a garden? Write down your home ownership goals. Gathering your thoughts now will make decisions you make later in the home buying process much easier. Plus, it’s easier to give up the $5 latte when you have a distinct picture in your mind of what will soon be yours.
Set a Budget and a Timeline.
Although the majority of your home purchase will be financed through a mortgage, you will still need to put a significant amount of money down to get approved for a loan. This amount varies on the type of loan you choose and the price of the home. You won’t know these factors right now, but you can start taking small steps to save. The app Mint.com allows you to set up specific “goals” within your account. Sign up and set a goal of “purchase a home in 18 months” and the app will tell you exactly how much from each paycheck you will need to save in order to achieve this goal.
Easier said than done, we know. However, you don’t need to give up shopping entirely, or stop going out to eat to save money. Baby steps. A great tool to use to easily save is the app Digit evaluates your spending habits and transfers small amounts of money out of your linked bank account into your Digit account, which accrues interest. Savings via text messages…can’t get much easier than that. Now, this tip seems quite obvious, but you would be surprised how much you can save by making small changes to your daily habits. Do you have a gym membership you never use? Cancel it. Do you stop at Starbucks five days a week? Cut it down to two days.
Check Your Credit.
Good credit is essential to obtaining a low mortgage rate. Go to and find out what your current credit score is. Check for mistakes, and if you find any, get the issues cleared up as soon as possible. Check your current interest rates on any loans or credit cards and find out if consolidating your debt with a low interest Personal Loan is an option that makes sense for you. If your credit is poor, don’t get discouraged. You can improve your credit over time by getting current on your payments and staying on top of them each month. No better time to start than now!
Contact Us today.
In order to purchase a home you will need a Mortgage Loan Officer and a Realtor. Even if you are not ready to buy just yet, we will be able to give you the information you need to prepare you when the time comes. Your loan officer will be able to tell you what you can afford, and what program and interest rate you will qualify for. This information will be valuable to you as you start to plan, budget, and save for that home of your very own.
If you want some fast, easy ways to give it a new look, consider these options:
Change things up. It seems cliché, but simply rearranging the furnishings can revive a room. Try a new plan for the furniture, and give it a couple of days to sit with you — even if it seems “off.” You might come to really enjoy the new look and discover it adds newfound flow, or functionality to the room. When rearranging, keep these two feng shui tips in mind: make sure your entryways are clear and have about 3 feet of walking space around the room. This is what you need to be comfortable, without knocking into furniture and bumping into walls.
Reduce clutter. Cut down on the number of decorations filling a room. Remove extraneous ornaments and conversation pieces so that you can open up space and showcase the remaining items. Consider switching out items on a seasonal basis to keep the room looking new.
Concentrate on a few focal points. When you cut down on decorations, make sure to keep two or three larger, more eye-catching elements, such as a statuette, vase, or wall art. These will create focal points for the room that engage visitors and fool the eye into believing that you significantly changed the room.
Re-color. A new coat of paint can completely change a room. Take pictures of the room and its furnishings and head to the home store to compare your snapshots to paint swatches. You might be surprised at the color combinations you uncover. Check out Pantone’s official colors for 2017 Once you’ve found some you like, get some samples, paint some swatches on the walls, and see how they look at different times of day and in different light. Once you’re satisfied you’ve found your new hue, start painting!
Cost guides, comparisons, and term cheatsheets for hundreds of remodeling, installation and repair projects. Click here