CENTURY 21 CUDDY



Posted by CENTURY 21 CUDDY on 6/18/2017

Becoming a home owner for the first time is an exciting milestone for Millennials! Going from renting an apartment to owning your own property represents a big transition from dependency to independence.

For many people, it even symbolizes making the leap from childhood to adulthood. Once you're a homeowner and a property taxpayer, there's often a newfound feeling of being more established and successful.

While home ownership may bestow upon you a boost in status, the added responsibility of paying for your own repairs, maintenance, and upkeep can take an unexpected toll on your budget. With a little extra planning, however, you can avoid many of the pitfalls of home ownership.

Looking at the Big Picture

Here's a misconception that sometimes creates a financial strain for first-time homeowners: "If we can afford to pay $1800 in rent, every month, then we should be able to afford monthly mortgage payments in that same amount!" While that premise may sound logical, there are a few crucial "missing pieces" from that equation -- pieces which could throw your household budget out of kilter!

In addition to the costs associated with purchasing real estate, such as a down payment and closing costs, there's also the matter of home repairs and property maintenance. Depending on where you decide to live, there could be other fees to absorb, too, including garbage collection, yard waste removal, and water usage. Other expenses that first-time homeowners may overlook include the cost of buying a lawnmower, a snow blower, yard maintenance supplies, tools, and furniture. That's why creating a detailed estimated budget, based on your income, debts, and anticipated expenses can help you determine whether you're truly ready to take the plunge into homeownership.

Enlisting Professional Help

A mortgage broker or bank loan officer can provide you with assistance in calculating your financial readiness for purchasing a home. A good real estate agent can also offer insights and guidance into the process of finding, buying, and owning a house you can comfortably afford. They should be able to provide you with vital information about school taxes, property taxes, average utility bills, homeowner association fees (if any), and any issues revealed in the seller's disclosure form.

One way to avoid -- or at least be prepared for -- costs that often accompany home ownership is to have a qualified property inspector take a close look at the condition of everything in the house from the basement and attic to major appliances and structural features. They can generally tell you whether there are any concerns about mechanical systems, water in the basement, foundation damage, issues with property drainage, the electrical system, potential plumbing problems, and dozens of other vital checkpoints

Whether you're a first-time house hunter or a seasoned homeowner, it pays to understand, anticipate, and budget for the many costs of being a property owner. While owning your own home can be a rewarding and satisfying experience, a guiding principle to keep in mind as you consider available homes on the market is "caveat emptor" (Let the buyer beware)!




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Posted by CENTURY 21 CUDDY on 6/11/2017

Ready to buy a home? Ultimately, you'll want to prepare for the homebuying process. By doing so, you can avoid many costly mistakes.

Believe it or not, it is easy to make mistakes as you browse the housing market. Some of the expensive mistakes that homebuyers frequently make include:

1. Overspending on a Residence

No one should be forced to overspend on a home. Unfortunately, if you fail to study the real estate market, you risk paying too much to acquire your dream house.

Remember, an informed homebuyer will be better equipped to optimize the value of his or her real estate investment than others. And if you understand the costs of properties in your area, you can avoid the temptation to overspend.

Explore the real estate market closely and assess the prices of similar houses. By doing so, you can understand the price range of homes that fall within your budget and plan accordingly.

Also, work with an experienced real estate agent. This real estate professional will help you determine how much you can spend on a home and can provide you with details about properties that match your budget.

2. Failure to Get Pre-Approved for a Mortgage

After you find your dream home, you'll need to figure out how to pay for it. And if you struggle to obtain a mortgage before you start your home search, you might miss out on the opportunity to purchase your dream residence.

Meeting with banks and credit unions prior to checking out properties is ideal. This will allow you to obtain a mortgage and search for houses that fit your price range.

Moreover, getting pre-approved for a mortgage may help you stand out in the eyes of a home seller, as he or she won't have to wait for you to secure financing to finalize a purchase agreement.

3. Lack of Realistic Expectations

As a homebuyer, it is important to understand that every house has its pros and cons. But if you fail to establish realistic expectations for the homebuying process, it may be impossible for you to find the right property at the right price.

Separating your homebuying wants from your homebuying needs is vital. If you determine exactly what you'd like to find in your dream home before you explore the real estate market, you can narrow your search and streamline the process of acquiring the perfect residence.

Furthermore, hiring a real estate agent can make a world of difference for homebuyers. Your real estate agent can keep you up to date about new homes as they become available, set up home showings and help you submit offers on residences. This real estate professional also can offer homebuying recommendations, ensuring that you can minimize the risk of homebuying mistakes.

With a real estate agent at your side, you can accelerate the process of going from homebuyer to homeowner. Collaborate with a real estate agent today, and you should have no trouble securing your ideal residence.




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Posted by CENTURY 21 CUDDY on 6/4/2017

Whether new or old, many homes can have issues that arenít obvious from photos. Many of the most common problems in a home have to do with the plumbing system. Since water can be so damaging, itís especially important to get these issues out in the open prior to sale.

Some sellers might be aware of their plumbing issues, others may have no clue at all. Oftentimes, if a home was previously occupied by only one or two people who didnít entertain many guests, they may not be aware of the strain that a larger family could have on things like the septic system.

In this article, weíll cover some of the most common plumbing issues that a home has and help you identify these issues before you buy a new home.

The small fixes

Letís start with some problems that are common and simple to address. When touring a home or performing an inspection, test all of the homeís faucets. Dripping faucets might not seem like a big issue, but the cost of wasted water can add up on your utility bill.

Leaking pipes are another issue that is seemingly harmless, but can lead to bigger problems that could cost thousands of dollars to repair. Check ceilings, floors, and underneath cabinets for signs of water damage.

Flush the toilets in the house to see if they continue running. Toilets that continue running water is often a simple fix, like replacing the chain or flapper in the tank. However, a leaking toilet could be symptomatic of a bigger problem that could include having to replace the toilet.

Sewer line and septic systems

Ask the owner about the history of the sewer or septic system. Find out if theyíve had problems recently and when the last time they were taken care of. If there is a septic tank or field on the property, look for signs of issues such as the grass having been dug out, water pooling in the yard, or foul smells in the area.

When it comes to septic and sewer issues, always reach out to a professional. They will be able to give you an accurate assessment and estimate of costs.

Inspect the pipes

Spot-checking the pipes in the home will tell you a lot about the state of the plumbing. Pipes that are old, worn, and lacking insulation are signs that plumbing issues could be coming. Rust is a major red flag. The water lines that lead out of the house for lawn faucets should also be wrapped to avoid freezing in the winter months.

Hot water heater

Just like the septic system, youíll want to ask about the history of the homeís hot water heater. If itís over ten years old, you might have to replace it soon after purchase.

You should also consider the size of the hot water heater. Youíll want to be sure it can accommodate your expected water usage. If children are in your future, having a bigger hot water heater might be something you want to plan for to avoid cold showers in the morning.





Posted by CENTURY 21 CUDDY on 5/28/2017

There are important points that first time homeowners should consider. These points can help homeowners avoid future head and wallet aches. Other advantages embedded in these important points include better understanding of homeowners association rules, house inspection preparation and mortgage repayment expectations.

Don't let homeowner excitement force you into a bad house buying deal

You'd be hard pressed to find an experience that is more exciting or stressful as buying a house. First time homeowners are people who are generally hopeful and ready to go after their dreams. Their backgrounds are broad, diverse. Hopefulness aside, buying a home is a large step. It's the largest purchase that many people make.

If house shoppers aren't careful, they could sign a lousy mortgage contract. The below points are great to consider before buying a house:

  • Credit history - Access your credit history.Check your credit report with all three major credit agencies. The major agencies are Experian, TransUnion and Equifax. Don't stop there. Consider how ready you are to take on more debt.
  • Check the neighborhood - Visit the neighborhood during the day and night. Pay attention to the condition of painting and siding on houses, sidewalks, driveways, community facilities, schools and lawns.
  • Speak with neighbors - While you're walking around the neighborhood, introduce yourself to neighbors. Ask them what they like best and least about the neighborhood.
  • Think about how long you plan on living in your new home - Because lenders build mortgages that require you to pay most of the interest during the early part of your home loan, you could save if you stay at your new home longer than five years. Otherwise, it might be more cost efficient to rent.
  • Familiarize yourself with homeowners association(HOA) fees - Ask your real estate agent what the monthly homeowners association fees are. Go with a HOA that is well funded. Also, choose a home that is managed by a HOA that invests part of fees it receives toward savings.

More ways that first time homeowners can get ahead during the house buying process

  • Understand HOA rules - Some states set HOA rules. Other states do not. Check with your state to see if they have regulations that HOAs must abide by. If the state doesn't have HOA regulations,get a copy of the HOA rules. Take your time reviewing the rules. If you are adamantly against a HOA rule, buying a home in a different neighborhood might be the right decision.
  • Calculate your monthly mortgage payments - Do this before you agree to move forward with buying a home. Don't just factor in the principal. Factor in interest, closing costs and inspection fees.
  • Shop for a fixer upper - Compare the costs of buying a fixer upper versus buying a key-ready house. If you buy a fixer upper,make sure that you can afford to cover repairs. Should you or someone you know be a handy person, buying a fixer upper as first time homeowners could prove smart.
  • Consider other expenses - As first time homeowners, you may need to buy furniture. Think about these costs before you become first time homeowners.
  • Buy a large enough house - Get a house that's large enough to accommodate your family, now and several years into the future.




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Posted by CENTURY 21 CUDDY on 5/23/2017

Stunning Colonial Home built in 1996 and superbly maintained by original Owners..Large Eat in Kitchen with wonderful Pantry Room, Raised Panel Oak Cabinets..Formal Dining Room with seating for 8..Over-sized LIving Room with Fireplace and Hardwood..Sun Room with access to large Deck overlooks fenced rear yard..Second Floor begins with spacious Master Suite offering multiple Closets, Cathedral Ceiling, and Master Bath..2nd and 3rd Bedrooms offer both ample size and closets perfect for Children..the 4th Bedroom has endless possibilities..Used currently as Home Office and Family Room Combo this room could easily work for Teenagers or Twins..The Basement has both Recreation Room and Exercise Room plus Utility Room for extra storage.. Recreation Room is heated by electric baseboard..Back upstairs and out to the yard which is level, south facing, fenced and perfect for a Gardener..All of this and located in the Town of Sudbury noted for superior Schools, Shopping and proximity to Boston

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