Dino Rossi
RE/MAX Preferred Properties | 617-312-3910 | [email protected]


Posted by Dino Rossi on 1/3/2021

If youíre getting ready to buy a home, you know it will be one of the most significant purchases of your entire life. However, are you fully prepared for all of the expenses that buying a home will bring? You donít want to buy a house to find out that you canít afford it after all.


Many expenses go into buying a home that you can plan for ahead of time. Other costs arenít as exact that you will need to add in your budget. Read on to learn more about many of the expenses that throw first-time home buyers for a loop. 


Closing Costs


Closing costs encompass a whole bunch of expenses that youíll incur buying a home. These include:


  • Taxes
  • Application fees
  • Attorney fees
  • Title insurance
  • Reimbursements
  • Recording fees

No matter what the closing costs include, you should plan for these expenses to be about 2-5 percent of the price of your home. Costs can vary widely, but itís good to have a bit of extra cash on hand.


Maintaining Your Home


While most homebuyers are prepared for the initial costs of buying a home, they don't know how much it costs to maintain a home. Each year, things will come up on your property that needs to be addressed continually. These tasks include:


Cleaning

Yard care

Gutters

Pressure washing


These routine tasks are independent of other costs like replacing a stove or fixing a furnace. Homeowners need to be prepared for these expenses as well.


Taxes


Taxes can increase or decrease for any given year. You can lookup taxes in the area where youíre planning to buy a home in order to prepare yourself. You should make sure that your property taxes are comparable with that of other homes in your area.

Utilities


Utilities are what your home runs on. Depending on the climate you live in the number of utilities you pay can vary. Take into account these things:


  • Heat
  • Air conditioning
  • Water
  • Electricity
  • Phone
  • Cable
  • Internet

Most neighborhoods have one or two choices for services, so you can ask people in the neighborhood what providers they [refer and how much their bills are each month.         



Insurance


Youíre required to have homeownerís insurance when you get a mortgage. Even if you donít take out a mortgage and pay cash for a home, itís a wise decision to protect your investment. Estimate how much a yearly policy will cost you ahead of time. 


This insurance will protect your property from things like theft and fire. You can shop around for the best rates based on policies that suit your needs. Itís easy to price out policies online. See where you can save including discounts for security systems or multiple policy discounts. 


If you live in an area where floods or earthquakes are prevalent, you should be aware. Youíll find you need additional policies to cover damage in the event of these disasters. The most important thing about your homeownerís insurance policy is that you check the details for all of the fine print.       





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Posted by Dino Rossi on 11/1/2020

A "lowball" homebuying proposal is unlikely to do you any favors, particularly if you want to acquire your dream residence as quickly as possible. In fact, after you submit a lowball offer, it may be only a matter of time before you receive a "No" from a home seller.

When it comes to buying a house, it helps to prepare a competitive offer. That way, you can increase the likelihood of getting a seller to accept your home offer and speed up the homebuying journey.

Now, let's take a look at three tips to help you avoid the risk of submitting a lowball offer on your dream residence.

1. Analyze the Housing Market

Are you searching for a house in a buyer's or seller's market? Are homes selling quickly in the current real estate market? And are houses selling at, above or below their initial asking prices? These are just some of the questions that homebuyers need to consider as they assess the real estate sector.

With a diligent approach to buying a house, a homebuyer can become a real estate market expert. This buyer can assess a wide assortment of housing market data, and by doing so, gain the insights that he or she needs to submit a competitive offer on any residence.

2. Understand a Home's Condition

A home purchase is one of the biggest transactions that an individual will complete over the course of his or her lifetime. As such, the decision to submit an offer on a house should not be taken lightly.

To make the best-possible choice, it helps to look at all of the available information about a residence. You should review a home listing closely and attend a home showing. In many instances, it may be beneficial to check out a house a few times to get an up-close look at it before you submit an offer.

The condition of a home will play a major role in how much you are willing to offer to acquire a residence. Therefore, you should learn as much as possible about a house's condition. And if you feel comfortable with a home, you should be ready to submit an offer that will match a seller's expectations.

3. Collaborate with a Real Estate Agent

Hiring a real estate agent generally is a good idea, particularly for a homebuyer who wants to reduce the risk of submitting a lowball offer on a house. A real estate agent can help a homebuyer prepare a competitive offer, as well as ensure that a buyer can enjoy a seamless home transaction.

Furthermore, a real estate agent will allocate the necessary time and resources to help you analyze a house. He or she will even offer homebuying recommendations and teach you everything you need to know about the homebuying cycle.

Avoid the temptation to submit a lowball offer on a house Ė use the aforementioned tips, and you can submit a competitive proposal to acquire your dream residence.




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Posted by Dino Rossi on 9/13/2020

Everyone defines the term "quality of life" differently, but if you asked 100 people, you'd probably hear a lot of similar answers.

According to a Gallup study entitled "The State of American Well-Being," the  basis for a good quality of life includes having a sense of purpose, feeling good about what you do every day, having supportive relationships, being motivated to achieve your goals, being able to effectively manage your finances, having the energy and health to pursue your interests, and sharing a sense of community pride. Feeling safe and liking where you live were also key ingredients in the formula for a high quality of life .

The Gallup/Sharecare report focuses on several aspects of community life, such as the role local governments play in offering amenities and resources to citizens. The study concluded that "communities that invest in active living, including bike paths, parks, walkability and public transit, have residents with better health and well-being outcomes."

While factors such as the quality of school districts and low crime rates are often foremost in the minds of house hunters, there's also a lot to be said for communities that offer public recreational facilities, educational programs, cultural events, and services that promote health, safety, and a clean environment.

Advantages that can help make one community more desirable and family friendly than another can range from free outdoor concerts and public tennis courts to the availability of farmers' markets and clean, updated playgrounds. Other features which can positively impact the quality of life in a community include well-maintained roads and bridges, the availability of dog parks, community parades, and programs to encourage the proper disposal of drugs, electronics, household chemicals, and recyclable products.

At the neighborhood level, quality of life is often measured by factors like noise, the condition of nearby properties, the overall safety and security of the area, and the amount of street traffic. Clean air, mature trees, and friendly neighbors can also contribute to a wholesome living environment that can be enjoyed for generations.

While there are many advantages to designing your own home or buying new construction, one might need to make short-term sacrifices when it comes to things like noise, neighborhood aesthetics, and other temporary inconveniences. Your real estate agent or home builder can probably fill you in on things like construction timetables and project completion dates.

If you're in the market for a new home, it's always a good idea to clarify in your own mind what you and your family needs to feel comfortable, happy, and secure. Creating a priority list of needs, desires, and preferences not only helps you stay focused in your real estate search, but also increases the probability that you'll be satisfied with your new home on a long-term basis.





Posted by Dino Rossi on 9/6/2020

A closing represents the final stage before a buyer acquires a house. At this point, a buyer and seller will meet and finalize an agreement. And if everything goes according to plan, a buyer will exit a closing as the owner of a new residence.

Ultimately, there are several steps that a buyer should complete to prepare for a home closing, and these are:

1. Review Your Home Financing

Typically, a lender will provide full details about your monthly mortgage payments for the duration of your home loan. This information is important, as it highlights exactly how much that you will be paying for your house.

Assess your home loan information prior to a closing. That way, if you have any home loan concerns or questions, you can address them before your closing day arrives.

If you allocate the necessary time and resources to review your home financing, you may be able to alleviate stress prior to closing day. In fact, once you know that all of your home financing is in order, you can enter a closing with the confidence that you'll be able to cover your mortgage expenses.

2. Perform a Final Walk-Through

A final walk-through provides a last opportunity to evaluate a residence before you complete your purchase. Thus, you will want to take advantage of this opportunity to ensure that a seller has completed any requested repairs and guarantee that a house matches your expectations.

Oftentimes, a final walk-through requires only a few minutes to complete. The inspection generally may be completed a few days before a closing as well.

It is essential to keep in mind, however, that a final walk-through won't always go according to plan. If you give yourself plenty of time for a final walk-through, you should have no trouble getting the best-possible results.

Try to schedule a final walk-through at least a week before a closing. By doing so, you'll ensure that a seller can perform any requested repairs prior to closing day.

3. Get Your Paperwork Ready

During a home closing, you'll likely need to provide proof of home insurance, a government-issued photo ID and other paperwork. If you get required documents ready ahead of time, you won't have to scramble at the last minute to retrieve assorted paperwork for your closing.

If you need help preparing for a home closing, there is no need to worry. Real estate agents are available nationwide, and these housing market professionals can guide you along each stage of the homebuying journey.

A real estate agent will help you find a house, submit an offer on it and conduct a house inspection. Plus, this housing market professional can provide recommendations throughout the homebuying process to help you achieve your desired results. And as closing day approaches, a real estate agent is available to respond to your homebuying concerns and questions too.

Prepare for a home closing Ė follow the aforementioned steps, and you can seamlessly navigate the home closing process.




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Posted by Dino Rossi on 8/23/2020

Want to make your homeownership dream a reality? Get pre-approved for a mortgage, and a first-time homebuyer can move closer than ever before to acquiring his or her ideal residence.

Ultimately, there are many reasons to receive pre-approval for a mortgage, including:

1. You can establish a realistic homebuying budget.

Entering the housing market for the first time can be challenging. In fact, many first-time homebuyers struggle to establish realistic expectations before they begin their home search. And as a result, these homebuyers may end up spending too much for a house.

Fortunately, getting pre-approved for a mortgage enables a homebuyer to enter the real estate market with a budget in hand. This ensures a homebuyer can avoid the temptation to overspend on a residence.

Pre-approval for a mortgage also allows a homebuyer to map out his or her homebuying journey. With a plan in place, this homebuyer may be better equipped than others to acquire a top-notch residence that matches or exceeds his or her expectations.

2. You can speed up the homebuying journey.

Although a first-time homebuyer can always submit an offer on a home without a mortgage in hand, doing so may be tricky. In some cases, it may even slow down the homebuying process, especially if a homebuyer has to allocate significant time and resources to find a mortgage lender.

On the other hand, a homebuyer who gets pre-approved for a mortgage should have no trouble accelerating the property buying cycle. This homebuyer will know exactly how much money is at his or her disposal, and as a result, can speed up the homebuying journey.

3. You can gain a competitive advantage over rival homebuyers.

In many instances, a home seller may be more likely to accept a proposal from a first-time homebuyer who has been pre-approved for a mortgage versus an offer from a buyer who still needs to obtain a mortgage.

A homebuyer who has a mortgage likely won't have to wait too long to acquire a house. Conversely, a homebuyer who needs to apply for a mortgage after an offer has been submitted may need to wait many weeks or months to complete a home sale.

Clearly, there are many great reasons for a first-time homebuyer to receive pre-approval for a mortgage. For homebuyers who want to ensure the best results possible, it certainly helps to collaborate with an experienced real estate agent too.

An experienced real estate agent understands the ins and outs of the housing market and will do whatever it takes to help a homebuyer streamline the property buying journey. This housing market professional will set up home showings and negotiate with a home seller on a property buyer's behalf. Plus, he or she is happy to provide honest, unbiased recommendations to help a homebuyer make his or her homeownership dream come true.

Take the next step to acquire your dream residence Ė get pre-approved for a mortgage today, and a first-time homebuyer can get the necessary financing to purchase his or her ideal house.




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