Upload
others
View
0
Download
0
Embed Size (px)
Citation preview
5 Essential Tips for Your Home Search
5 Tips for Your Home Search:
1. Picture Your Ideal Home
2. Determine Your Budget
3. Engage an Experienced Agent
4. Manage Your Search
5. Formulate an Offer Strategy
Searching for a home in Boston can feel like a
daunting task - there are a number of
neighborhoods at varying price points and properties tend to sell fast.
Here are 5 tips to help with your search:
1. Picture Your Ideal Home
The first step is to visualize what it is that you are looking for in a home. We are fortunate enough
in Boston to have a diverse selection of neighborhoods that feature many different
offerings. Would you like to live in the midst of a
bustling area with restaurants and shops just a few steps away, or would you prefer a more
private, residential setting? Do you picture a condominium with charm, a full service luxury
building with a concierge, a single family house
with a private yard or something in between? It is important to make a list of non-negotiable,
“must have” items, as well as a wishlist of additional features that may not be deal-
breakers.
2. Determine Your Budget
Setting a budget at the beginning of the process
will substantially help you in your search. It is important to meet with a loan officer so that you
can obtain a pre-approval letter. Not only will this help you determine what you will be able to
afford, but a pre-approval letter will be required
when you submit an offer on a property.
Understanding your budget and what you
envision for your ideal home can help determine the neighborhoods you should focus on.
3. Engage an Experienced Agent
Although most buyers begin a search online initially, they do find working with a competent
agent is a necessity. Many online sites are not up to date and an agent can not only familiarize you
with neighborhoods, but will set you up on a real
time information network so you are getting news regarding open houses, new listings, etc. as
they appear.
Overview
When it comes to negotiating an offer and guiding you through the purchase process, an
established agent has invaluable insight of market conditions, various building and
management issues, and timing. Buyer’s agents
are generally no cost to you, so don’t make unnecessary costly errors.
4. Manage Your Search
Once you have a handle on what you can afford
and the neighborhoods you want to focus on, set
up a search so that you receive continuous updates. Again, an experienced real estate agent
can set this up for you, and will also monitor listings as they come on. As new properties
come to market, you will see the different types
of opportunities that arise and at what price and how quickly they sell.
Additionally, as your real estate agent receives your feedback and starts to hone in on your ideal
home, he or she can keep an eye on sources
beyond the traditional marketplace. Experienced agents network with other professionals and
sometimes hear about new properties before they come on the market or that may not be
publicly l isted (although rare, there are
sometimes off-market properties for sale).
Finally, consider your timing, budget and
willingness to take on a project to decide if you can manage any renovation or cosmetic updates,
or if you prefer to pay a premium for a home
that’s move-in ready (or close to it).
5. Formulate an Offer Strategy
Whether you have been searching for a few days, a few months or even longer, once you find a
property you want to take the next step with, how will you move forward?
Perhaps most important is determining the price
you will offer. An experienced agent will provide you with comparable sales data to show you
what similar homes have recently sold for, which you can use to get comfortable with a price you
will offer.
In addition to price, there are many other terms that need to be considered - home inspection,
financing contingency, timing, etc. Boston’s housing market is competitive, so be sure that
your offer is presented in an organized and
compelling manner.
____________________________________
Cabot & Company is a full-service boutique real estate company servicing Boston, Cambridge and
the surrounding areas. We have been located on
Newbury Street in Boston’s Back Bay for over 35 years, and we have residential, commercial and
property management teams to help us deliver results to each and every client. Our personable
and informed agents will help you achieve your
goals in purchasing or selling a home, investing in income property or renting an apartment.
Contact us and/or start your search through our website: www.cabotandcompany.com
213 Newbury Street, Boston, MA 02116 | 617-262-6200 | www.cabotandcompany.com