Our Real Estate Blog
28 Coldspring Dr, Sutton, MA 01590
If you intend to purchase a house soon, it helps to prepare for the home buying journey. In fact, if you identify potential issues before you start your quest to find your dream home, you could avoid them during your property search.
Now, let's take a look at three common issues that plague homebuyers, along with tips to address these problems.
1. Lack of Home Financing
In some instances, a homebuyer will check out residences and find one that matches their expectations. Next, this buyer will submit an offer to purchase a home that ultimately gets accepted. At this point, however, the buyer may discover that they lack the necessary financing to acquire this home.
Entering the housing market with financing in hand is ideal. If a buyer gets pre-approved for a mortgage, they will know precisely how much money is available for a home purchase. As a result, this buyer can map out their home search accordingly.
To get pre-approved for a mortgage, it helps to meet with a variety of banks and credit unions. These financial institutions can teach a homebuyer about his or her mortgage options. Plus, they can help you make an informed mortgage selection.
2. Tight Home-buying Timeline
If you have only a limited amount of time to move from your current address, you may rush to purchase a house. In this scenario, you risk making a rash home purchase – something that may prove to be problematic both now and in the future.
For buyers who face a tight home-buying timeline, there is no need to stress. If you make a list of home-buying tasks you need to accomplish, you can take a step-by-step approach to the property buying journey.
3. Unrealistic Home-buying Expectations
You may expect to buy your dream residence without delay. Yet the real estate market offers no guarantees. And in certain instances, it may take many weeks or months before a buyer finds a house that they want to purchase.
To establish realistic home-buying expectations, it usually is a good idea to work with a property buying expert. Lucky for you, real estate agents are available in cities and towns nationwide, and they can provide home-buying insights that you may struggle to obtain elsewhere.
A real estate agent is committed to a homebuyer's success. As such, he or she will work with a homebuyer and help them prepare for the housing market. A real estate agent will also set up home showings and provide feedback about available residences in a buyer's preferred cities and towns. And if a buyer finds a house that they want to purchase, a real estate agent will help this individual put together a competitive home-buying proposal, too.
When it comes to purchasing a home, you should plan for the best - and worst-case scenarios. If you consider the aforementioned home-buying issues before you begin your house search, you can boost the likelihood of enjoying a successful property buying experience.
Parcel A Jones Road, Sutton, MA 01590
Lot 2 Jones Road, Sutton, MA 01590
Sharing living expenses with your partner or roommates can be a difficult and confusing issue for many.
Life would be made much easier if there was just one bill to pay on your home that includes everything.
Recently there have been attempts to bring such a suction into fruition. Many homeowners and renters have turned to apps that help them split expenses, or have signed up for mortgage agreements that cover stray expenses like property tax and private mortgage insurance.
In this article, we're going to give you a few tips on splitting the bills in your home to make things easier for you, your spouse, and your roommates.
Who pays what?
Many young couples are often left wondering who should pay which bill, especially when you share so many services.>
However, there's a big difference between sharing a Netflix account and sharing a car. One solution is to use the bills that report to credit agencies for whoever needs help building their credit score.
Putting credit cards under the person with the lowest score’s name can help them build credit even if they're simply listed as an “authorized user” which means you can take advantage of good interest rates and build credit at the same time.
Paying the mortgage
It can quickly become tiresome having to write two different checks each month for your mortgage or rent. To solve this problem, you can either alternate payments (you pay a full month’s rent or mortgage one month and your spouse pays the following month), or you can choose to pay bi-weekly, which will help you pay off your mortgage sooner.
The best apps to use
If you live with your spouse, you likely aren’t overly concerned with splitting all of your expenses 50/50. Chances are whoever has the higher income will foot the bill for the larger expenses.
However, if you have roommates there’s a bigger chance you’ll want things to be split evenly between you and the other members of the household. That’s where apps come in handy.
First, sit down with your roommates and go over all expenses. Write down each bill that you share: rent, heat, electricity, cable, internet, gas, insurance, and so on.
Then, decide who is responsible for making the payment on those bills. Even if you decide to split them all evenly, one person will have to be responsible for sending out the check each month.
Once you’ve determined which bills you have and who is going to pay them, it’s time to find out how you’re all going to contribute.
One way is to open up a shared account. Doing so can be messy, however, if you’re using that account for multiple bills. Some banks and services also charge a portion of the transfer, so you’ll each be losing money each month, and the amount depends on how many bills you have.
Some apps and services you can use to split bills and transfer money include Splitwise, Mint, PayPal, and Chase’s QuickPay. The benefit of apps that don’t transfer money is that they are often free and don’t collect transfer fees. So, if you’re comfortable with handling money by hand, you could save in the long run.