The Next 4 Things No One Tells Acton First Time Homebuyers

By
Real Estate Agent with Keller Williams Realty Boston North West MA-9081217

 

The Next 4 Things No One Tells Area First Time Homebuyers

 

Of all the things first time homebuyers in our Acton area are told, some that turn out to be pretty important are too often overlooked. Here are four items first time homebuyers will find useful to know: 

4. Remodeling costs more than you think

You’ve found a fixer upper, your energy is to be applauded. But before you write that offer, if you are one of our Acton first-time homebuyers, be certain to have penciled out the bottom line cost of bringing the home up to the standard you require to be move-in ready. You may well be able to live with some items that you will fix over time, but in all areas, budget 20% more than your estimate.   

5. What matters is what the bank’s appraiser thinks the house is worth 

Getting a loan approved isn’t as simple as having great credit and a down payment. Your offer also has to pass the bank’s approval process before they will okay the loan. 

6. Getting inspected doesn’t mean there won’t be problems

Should you skip the inspection process? Absolutely not. You need to know if the home is structurally sound. But owning a home involves continuing expenses -- and problems can pop up even on Day One of ownership. Make sure you have funds set aside.

7. Buying your first house can be stressful…really stressful!

One of the absolute best pieces of advice I can give is to relax — expect the unexpected! Buying your first house is scary only if you allow it to be. Since it is all but certain that there will be ups and downs, allow the possibility that you may not get any particular house. Veteran homebuyers come to understand the cost of overly emotional involvement — when you do, too, you will be better able to roll with the punches…and to make financially sound decisions.

If you missed the first three items in my list, check back to Part 1 – or just call me! I’ll fill you in on everything Acton first time homebuyers need to know.

  Betsy Purcell - Keller Williams Boston North West - 978-758-7414          betsypurcell@kw.com

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Topic:
Home Buying
Location:
Massachusetts Middlesex County Acton
Groups:
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first time buyer
acton ma
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Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

This is all very good Betsy. So many people are uneducated and have unrealistic ideas of what it takes to become the home owner. "Getting inspected doesn't mean thee won't be problems", there are very few properties I have sold or listed that were problem free.

Great info,

Thanks

Mar 20, 2013 10:06 PM #1
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Betsy Purcell

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