More Home - Less Money - Tips For Massachusetts Home Buyers

• Cast a wider net. Rather than looking for a home in a specific city or town, think about looking within a radius of your work. Pinpoint your place of employment on a map and draw a radius that represents a reasonable commuting distance you are willing to consider. You may be surprised that your area includes additional living opportunities. You can even search for real estate online using a radius option. Often you will find a lower cost community. If schools are a major reason for choosing a community, you may want to weigh other educational opportunities available in Massachusetts - including public, private, regional or charter schools. Many communities participate in school choice, where students in one district may attend school in another district if space is available.
• Make it pay. Consider purchasing a two-family home, letting your tenant help pay your mortgage. In the future you can keep the home as a rental property or sell it in favor of purchasing a single family residence. Be sure to consult with your attorney and/or CPA about the pros and cons of becoming a Massachusetts landlord.
• Under-size. Just how big a home do you really need right now? There are advantages to looking at smaller homes with good "add on" potential. Look at neighborhoods where ranches are becoming two-story homes, etc. If you haven't had a chance to read Sarah Susanka's "The Not So Big House", try to do so. It may change the way you think about what a house needs to be in order to be "home".