Tag Archive for: home ownership

How to Prepare Your Home for Winter

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You’ve worked hard to find and afford a home that you love, now it’s time to make sure it is
prepared for the New England winter. Here are some tips that will ensure your house stays safe
from damage before it starts to snow, so you can rest easy in the cold weather!

Start from the Outside


A good way to begin your winter preparations is to clean your gutters and downspouts to make
sure drainage areas are free of leaves and debris from the fall. This way you won’t have to
worry about water overflowing and damaging your roof! If you know how to inspect your roof
safely, this is also a good time to do so. If not- I would always recommend hiring a professional!
Replace any shingles that are curling or cracking, and check the flushing around windows or
chimneys for gaps- they should be filled before any snow arrives. Use a screwdriver to test any
wood trim around windows, doors, railings, and decks. If any of it is rotted, it is best to replace
them before the winter months make the damage worse. If you do not have the time for the full
replacements you would like to do, bringing caulk outside with you is a good way to fill any holes
or rotted wood that you are worried about, as well as any window or door molding that is not
fully sealed.


Prevent Freezing


If your plumbing is not equipped for the winter, your pipes could freeze and leave you with a big
mess and a hefty bill. Your exterior spigots should be turned off and fully drained, as well as any
garden hoses you may have been keeping outside. Any water pipes in your exterior walls
should be wrapped in heating tape to save energy and prevent them from freezing up and
potentially bursting. This is especially important if you live in an older home or have not had your
plumbing inspected in a while.


Stay Safe and Warm


If you use your fireplace, even if just occasionally, you should have it cleaned out before the
winter to prevent any pests from getting in and lower the risk of a chimney fire. Similarly, your
firewood should be kept at least 15 feet from your house to keep termites at a safe distance! To
stay warm, consider getting a tune-up on your heating system, the last thing you want is to lose
heat in the middle of a snowstorm. Finally, reverse the directions of your ceiling fans so they can
help get the heat moving from the tops of your rooms and keep your whole house warm all
winter long.
Taking the time to do these simple things can save you a lot of stress in the coming months, and
potentially prevent damage to your home! Though it may seem tedious, you will have peace of
mind in knowing that you and your house are safely prepared to enjoy the beautiful winter
months without risk. Contact me today if you are looking to buy or sell a home

10 Issues Commonly Found During Home Inspections

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In 2020, home inspections started to be waived frequently to make buyers’ offers look enticing. The market is still hot, but home inspections are becoming more common during the fall 2022 market. There is a lot that goes into the process of buying and selling a home. Although not required, a home inspection is one of the most transparent ways to unearth your potential new home before you sign on the dotted line for the final time. 

Here are some of the most common issues found during the home inspection process. 

But first, what is a home inspection?

In simplest terms, a home inspection is a thorough examination of the current condition and safety of a home. It is conducted by a licensed home inspector and reviews areas such as:

  • Heating system
  • Central air conditioning system
  • Interior plumbing
  • All electrical 
  • The roof and attic space
  • Visible insulation
  • Interior areas such as walls, ceilings, floors, windows, and doors
  • The home’s foundation and other structural components
  • The basement 

What does a home inspection help with?

As buyers, home inspections are great ways to get to know the bones of your potential home, ask sellers to fix any significant and costly problems before purchase, and negotiate the terms of your offer to meet your financial needs while getting the house back in order.

As sellers, home inspections are a great way to gauge the overall condition of your home, get a better understanding of your home’s value, and work with your realtor and buyers to discuss options for fixing any major issues with terms that work for both of you. 

What are the 10 most common issues found during a home inspection?

1. A faulty foundation

The most common signs of this issue include ​sticking windows or doors, cracks in the wall, especially above the doorway, sloping floors, or visible cracks in the exterior base of the home. One of the most costly issues to fix, an update to the foundation could cost upwards of $10,000.

2. An old roof

The life expectancy of most roofs is anywhere from 15 to 20 years. During the inspection, roof issues are often noted when there are loose or crooked shingles, leaks in the ceiling, or any loose flashing. Roof repair or replacement can cost between $5,000 to $10,000 or more.

3. Plumbing issues

Faulty plumbing can be noticed in things such as leaky pipes, backed-up sewage systems, or improperly functioning water heaters. The cost to repair plumbing depends on the location and severity of the issue.

4. Mold 

Mold, especially hidden, can be highly detrimental to the overall health of a real estate property. Mold is caused by moisture, which in most cases indicates a leak somewhere in the home. The cost to mitigate mold depends on the severity of its spread. 

5. Electrical issues

Poor wiring or other electrical hazards are frequent issues found during the home inspection process. The most common wiring issues are missing junction boxes, reverse polarity, and damaged receptacles. However, repair and replacement costs are relatively low compared to other reported home inspection issues unless the wiring problem is extensive and requires a complete home replacement.

6. Heating failures

Problems like a blocked chimney, faulty furnace, or non-working controls are enormous issues that home inspectors often encounter. Failed heating systems can cost a lot to replace, especially when your home requires a new furnace. Generally speaking, fixing common heating problems is between $5,000 to $8,000.

7. Structural damage

A common issue in older homes, structural damage can refer to various problems. The most frequent sagging floor joists, rafters, and door headers. Depending on the severity of the issue, the cost could range from minor to major. Review your report in detail to better understand exactly what structural issues are at play.

8. Pest infestations

The ever-so-devious pests come up often on home inspection reports. From rodents to termites, pests can cause serious problems in a home, especially when left untreated. The cost of pest removal depends on how much area the pests have destroyed and exactly what is needed to remove them.

9. Drainage Trouble

Surface grading around the exterior of a home can cause severe drainage issues. Extensive drainage issues can lead to mold and mildew growth, a leaky basement, or foundational issues if not tended to properly. The cost to fix surface grading is based mainly on the size of the area. 

10. General cosmetic issues

Often seen by the naked eye, cosmetic issues are not something that most would think to see on a home inspection report. However, as a seller, it is vital to take care of cosmetic issues to show the buyer and inspector that you care for the property at all levels. Lack thereof could signal other issues to be found below the surface.

 

If you’re in the market for a new home or hoping to sell your home this year, it is important to consider all the factors that go into a home inspection. To learn more about the home inspection process or begin the home buying or selling process, contact us today. 

Renting vs Buying

Renting vs Buying

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Owning property is often considered one of the great landmarks of success and maturity. This mindset makes sense- it is no small feat to purchase a home! Though it should most certainly be something to strive for, buying a home before you are mentally and financially ready can be disastrous. You don’t want to purchase outside of your means, nor settle for a home you aren’t passionate about simply because you want one. There are many questions you should ask yourself before you begin the home-buying process, and an understanding of the current housing market in your area is vital. If you are reckoning with the pros and cons of buying vs renting, consider these factors before making the leap.

 

LOCATION, LOCATION, LOCATION

Are you comfortable in your current location? Is this spot somewhere you can see yourself in 5 years? 10 years? Reflecting on your location is key to deciding whether you should buy or rent in your current area. If you are unsure whether you want to stay put or take up space in another locale within the next 5 years or less, buying may not be right for you at this stage. Often we hear that renting is about pouring money into something that doesn’t belong to us, but in turn for the rent, you can live in an amazing space for a limited amount of time. In contrast, if you feel as though you want to stay where you are for the long run, it may be best to start the buying process so that you can invest in a property that belongs to you for years to come.

 

PURCHASING POWER IS KEY

Before you can make a sound decision on whether or not purchasing a house works for your lifestyle, you need to gauge your overall purchasing power. You can find calculators online that will give you a sense of how much you can afford. There are various factors that play into your purchasing power including credit score, savings amount, down payment, debt to income ratio, and payment history. Major debts such as past mortgages, credit cards, and car loans need to be factored into this decision. When determining your pre-approval amount, a loan processor will look at these factors to decide whether or not you are financially sound enough to purchase a home and how much you will be able to borrow. If you don’t meet all of the criteria or are on the lower end of the spectrum when it comes to purchasing power versus your wish list, renting may be the best option until you are able to bring all aspects to pristine health. During your rental period, focusing on cleaning up your credit and saving money diligently for your down payment are key aspects of growing your purchasing power. 

 

THE FUTURE IS NOW

If you’ve decided that the home purchase route is the right one for you, consider what the future may hold. Reflect on questions such as:

  1.     Will I be married or have roommates now or in the future?
  2.     Do I plan to grow my family?
  3.     Do I want pets?
  4.     Do I plan to host holiday gatherings, events, or guests at my home often?
  5.     Do I want to build on or renovate a home or do I prefer a move-in-ready type?
  6.     What floor plan layout works best for my plans now and in the future?

Although you plan to purchase now, or in the near future, you must contemplate the wants and needs that may arise in the future. This way, your home will fit your changing lifestyle as you and your family grow and change. If you are uncertain of your future plans, renting would be the best option as you can oftentimes choose between a long-term or short-term lease agreement. Similarly, you may decide the timing is right for you but the market is not. Be sure to have a concrete understanding of the housing market before you make an investment that may not be as successful as you had planned. 

 

When deciding whether renting or buying a home is the right option for you, there are many different factors to reflect upon before jumping in headfirst. Consider factors such as your financial buying power, your debt-to-income ratio, your savings and purchase plan, and your future personal goals. Understanding the full picture will allow you to make the best choice for you now. Still not sure what the best option is for you? Contact me today, I would love to help walk you through the process to determine the best route for you.

How to Gain and Use Home Equity

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The North Shore real estate market is still incredibly hot! The high values of homes in this current seller’s market mean that those who already own them have probably seen a large increase in equity due to high appraisal values. Working with an experienced Realtor who is knowledgeable about the market is critical- here is how to gain and get the most out of your home equity. 

How to Build Home Equity

The first way to build home equity is through a down payment on a house. The larger a down payment you spend on a house, the more equity you will immediately possess. Your equity continues to grow as you make mortgage payments, so be sure to pay them on time. If you have the means to pay more than the minimum monthly mortgage payment, you will build equity faster.

Home equity grows with the value of your home, so staying in the same place for multiple years will likely increase the chances of your home’s value going up. Though it isn’t possible to predict the housing market with complete certainty, home values always trend upwards over time. Another way to increase the value of a house you own is with home improvements. Obviously, improvements that increase square footage will bring more value to your home, but so do smaller projects like finishing a basement or adding a walkway. Be sure to research what home improvements will add value to your home, and consider using money borrowed against your home equity to fund such projects. If money borrowed on home equity is used for capital improvements, the interest is tax-deductible. 

 

How to Borrow Against your Home Equity

Home equity is considered an asset and a part of your net worth, but it is not a liquid asset. To use your home equity to leverage more funds, you will have to look into the different ways to borrow against it. 

Home Equity Loan

A home equity loan, also referred to as a second mortgage, is a lump sum borrowed against your home equity, separate from your original mortgage. Unlike business or student loans, you can use a home equity loan for a large variety of purposes. They also have lower interest rates than credit cards due to the fact that your home is being used as collateral in the transaction. Taking a lump sum is a good option for those who are prone to overspending, as you cannot impulsively take out more than the agreed-upon amount. 

Home-Equity Lines of Credit 

Home-equity lines of credit, or HELOCs, are a common way of borrowing against your home equity. HELOCs are growing increasingly popular with homeowners who are not interested in refinancing their homes due to current high interest rates. They work similarly to credit cards in the sense that the homeowner can borrow up to a certain amount of money and pay off the balance. This method of borrowing is considered better than lines of credit or personal loans, as they are far cheaper. HELOCs offer a revolving line of credit that allows you to borrow as much or as little as you like, making them different from the lump sum received in a home equity loan. 

 

How to Use Funds Borrowed Against Home Equity

Borrowing against your home equity can help you pay off debts at lower rates. Many people choose to use home-equity lines of credit for large debts, higher education, or another property! Perhaps the most common use of a HELOC is for funding home improvements or additions. Using money borrowed against your home equity to improve or add to the home is a great idea, both for your own personal use of the space and for increased home value if you are looking to sell in the future. If you are looking to use your current home equity to help you invest in another property, contact me today to get started!

How to Conserve Energy in Your Home

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Hot weeks like this can make you think about the energy conservation methods for your home. With fall right around the corner and winter right behind it, now is the perfect time to put a plan in place! Whether you’re motivated to protect the environment – or just to save on your utility bills – here are a few ways to reduce your energy consumption, starting with the easiest!

ADJUST YOUR BEHAVIOR.

  1. Turn off lights and appliances when you are not using them.
  2. Turn down your heat or air conditioner at night, and when you’re not at home.
  3. Wash only full loads of dishes and clothes, and think about hang-drying or washing dishes by hand.
  4. Wash clothes in cold water.
  5. When raising or lowering the temperature, do so slowly.
  6. Use a microwave or toaster oven instead of a conventional oven, when possible.
  7. Clean the dryer lint filter regularly.
  8. Use less hot water, or turn the thermostat on your water heater down. 
  9. Turn off the water heater when you’re going away for a few days.

Invest in energy conservation.

  1. Use smart power strips that shut off the power to electronics when they are not being used.  As much as 75% of the power used by electronics is consumed when they are switched off!
  2. Purchase a low-flow showerhead, and insulate your water heater and pipes.
  3. Replace your lightbulbs with CFLs or LEDs – they can use 25-80% less electricity and last up to 25x longer than traditional bulbs.
  4. Install a programmable thermostat to automatically adjust heating and cool when you’re asleep or out of the house. 
  5. Weatherize your home by sealing air leaks around vents, windows, doors, and especially attics. 
  6. Consider installing solar panels at your home or buying local solar energy.
  7. Insulate your home, including the attic, walls, floors, ducts, basement, and crawl spaces. 
  8. Purchase energy-efficient appliances and water heaters.
  9. Install energy-efficient windows – this can save 10-25% of your heating bill!  Low-e coatings can also help to reduce heat gain in the summer, as can blinds and screens.
  10. Purchase an energy-efficient HVAC system.

Changes don’t have to be big or expensive to make a difference. 

For more details, visit:

 31 Ways to Save Energy in Your Home

 and The Top 10 Ways to Save Energy.

If you’re looking to make energy-efficient changes to your home, reach out for my recommendations!

North Shore, Massachusetts Relocation Guide

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When it comes to finding a spot on the map with picturesque beach views, cozy snowed-in winters, a small-town vibe near a big city, and a community that provides support, togetherness, and an old-town feel, we couldn’t think of a better location than Massachusetts’ North Shore. 

Whether you’re a native New Englander, current Massachusetts resident, or someone hoping to get their feet wet on the North Shore and are preparing for the big move across country, state, or town lines, our personalized relocation guide is sure to provide you with the inside scoop on exactly what makes this little, yet robust area of Massachusetts so wonderful.

Let’s explore all that the North Shore has to offer everyone. 

First, what towns are part of the North Shore?

As prideful and experienced Bay Staters, we understand how hard it is to figure out precisely what towns and cities make up different regions of our small but mighty state. But, in short, the North Shore is considered the coastal region north of Boston and the New Hampshire border. 

The North Shore is comprised of the following towns and cities in Massachusetts:

  • Amesbury
  • Andover
  • Beverly
  • Boxford
  • Danvers
  • Essex
  • Georgetown
  • Gloucester
  • Groveland
  • Hamilton
  • Haverhill
  • Ipswich
  • Lawrence
  • Lynn
  • Lynnfield
  • Manchester-by-the-Sea
  • Marblehead
  • Merrimac
  • Methuen
  • Middleton
  • Nahant
  • Newbury 
  • Newburyport
  • North Andover
  • Peabody
  • Rockport
  • Rowley
  • Salem
  • Salisbury
  • Swampscott
  • Topsfield

What makes the North Shore so special?

Although there is so much to gush about when it comes to the beautiful North Shore region of Massachusetts, some of our favorite things include:

  • Location to the ocean
  • Proximity and commute time to Boston
  • The small-town family-friendly feel
  • Good schools 
  • A plethora of activities for all ages year-round

A Bird’s Eye View Overview of Our Most Notable North Shore Towns 

Beverly, Massachusetts

Boasting a top-rated school system, the most amazing options for dining, shopping, and activities for all tastes and styles, and a thriving downtown, Beverly is the perfect place to raise a family and plant your roots. 

Just 26 miles north of Boston, it’s the ideal spot to get away from the hustle and bustle of the big city while still being close enough to enjoy all it has to offer whenever you feel like it. Close to route 128 and housing its own airport, it’s great to travel to and from with ease. 

Labeled the “Garden City,” Beverly has miles of glorious coastline, pristine public parks, and plenty of open space to enjoy all that the four seasons have to offer. 

Salem, Massachusetts

Once considered one of the most important seaports in America, during the Puritan era, Salem has a wealth of history and stories to boot. 

Most famous for the Salem Witch Trials and the endless amounts of Halloween-themed events and experiences, Same is a great place to enjoy various entertainment for all ages. 

A coastal city where the U.S. National Guard was born, it boasts beautiful beaches and ocean views from what feels like all angles. A great spot to indulge in big-city experiences with small-town vibes. 

Danvers, Massachusetts

Located on the Danvers River and a short ride to Boston, Danvers, Massachusetts, is the ultimate New England small town. With a sea of history and ties to the Salem Witch Trials, Danvers played an integral role in building on America.

Aside from its deep history, Danvers boasts top-notch public schools, delicious dining options, and quaint shopping choices in its downtown area.

If you’re a nature lover, Danvers is your oasis. With many open space and recreation opportunities, including a marina, Endicott Park, and a 4.3-mile rail trail that connects schools, downtown Danvers, parks, neighborhoods, and trails in the neighboring towns, there is no shortage of things to enjoy here.

Peabody, Massachusetts

In its early years, Peabody was known as the “leather capital of the world” due to the 91 facilities used to produce and process leather throughout the city. Like all North Shore cities, Peabody has a rich history tied primarily to the Puritan and Pilgrim eras. It also played a role in the Salem Witch Trials linked to neighboring towns.

Just a 30-minute drive from Boston, Peabody is the perfect place to plant your roots outside the city limits while feeling close enough to the action. This is especially important for those who plan to work or attend college in the city. 

With around 55,000 residents, Peabody exudes a sense of community for all who live there.

Essential Resources for Relocating

Housing-Specific

Realtors:

If you’re hoping to secure your next home purchase on the North Shore, we’d be happy to help. With over 100+ 5 star reviews and thousands of homes sold over our long and rooted tenure in Massachusetts, we would love to help you find the home of your dreams in a neighborhood you love. 

New Developments

Hoping to score a new build in the lovely city of Beverly? Stay up-to-date on the latest builds in our community before you plan your next move. Learn more here. 

Moving Companies: 

Although it would be great to grab your best friends and offer up some pizza and beer in exchange for a day or two of moving, we know from experience that moving companies make the process of packing and heading from one location to another a lot easier.

Some of our favorite local moving companies are:

  • Trowt Movers, in Beverly, MA, serving all of the New England area
  • Roy’s Moving, in Boston, MA, helping those throughout the Boston area pack and move their belongings with ease.

Lenders: 

Without a solid lender, your dreams of owning a home in the North Shore are, well, just a dream. Don’t just opt for anyone. Instead, invest in a team with years of experience lending and helping families plant roots in the North Shore.

Our favorite team of lenders is located at Ross Mortgage & Drew Mortgage

Contact them today to start the process toward homeownership. 

Interior Designers: 

If you’re hoping to stage your current home to sell it for top-dollar or need assistance with interior design, Sheek Interiors is the answer you’ve been looking for. 

Dining

Nothing makes a move easier than knowing you’ll be arriving at a spot with delicious eats, right? When it comes to dining on the North Shore, there are hundreds of mouth-watering options to choose from.

Check out some of my favorite local eats:

Crave – Located in Beverly, they pride themselves on offering “great food to go.” From breakfast sandwiches to cupcakes and coffee, there is something to satisfy everyone.  

Tartine Kitchen & Eatery – Also located in Beverly, they create everything from breakfast to dinner items and specialize in tartines, open-faced sandwiches served on artisan bread. 

Frank – Located on Rantoul Street in Beverly, this is the idealistic “farm to table” restaurant. They believe in sourcing their ingredients from local, sustainable farmers whenever possible. 

Joe’s on a Roll When craving the best lobster in town, Joe’s, on Federal Street in Beverly, is the spot of choice. Their lobster roll paired with a bowl of their delicious chowda’ will lift your spirits and give you a taste of your favorite summer nights. 

Wrapture if you’re looking for freshly made wraps or a bit of Mexican flair (think made-for-you burritos or tacos), then this is the place! Located on Cabot Street in Beverly, Wrapture uses fresh ingredients to please your palate. 

Taste Buds Kitchen – If you’re looking for some variety in your meals, the new cooking club that Taste Buds just launched is perfect! They post new cooking videos every Tuesday and Thursday and are great for your entire family to participate in. 

Pet options 

A move is not complete without including our furry best friends, our pets.

Here are some of my favorite pet-friendly options to consider using after you move to the North Shore:

Shopping

Whether you’re a self-proclaimed fashionista or just hoping to be close to good shopping options, the North Shore is not short on local businesses and unique shops. 

Although my list could take up an entire page, some of my favorite local shops include:

  • Unpacked Living in Beverly is a sustainable market with options for home, beauty, baby, and pet is one-of-a-kind.
  • Copper Dog Books in Beverly is an independent bookstore that boasts many readworthy options for people of all ages. So unleash your inner bookworm in the heart of downtown.
  • Worthy Girl in Beverly is a feel-good way of shopping without breaking the budget while reducing your eco-footprint. This consignment shop is loaded with labels from various designs at an affordable price. 
  • Oak and Moss is located in historic downtown Salem and perfectly combines home, plant, and gifting options for you or someone you love. 

Entertainment

After a long week at the office, everyone deserves to relax and unwind with some good-heartedentertainment. Some of our favorite North Shore entertainment spots include:

Parks & Beaches

Although there is a lot to brag about when it comes to North Shore living, we can’t say enough about the glorious beaches, expansive green space, and coastal elements of living with the Atlantic Ocean at your back door.

Some of our favorite beaches and parks include:

  • Castle Rock Park in Marblehead
  • Forest River Park in Salem
  • Good Harbor Beach in Gloucester
  • Independence Park in Beverly
  • Long Hill in Beverly
  • Lynch Park in Beverly
  • Millbrook Meadow in Rockport
  • Patton Park in Wenham
  • Plum Island in Newburyport
  • Singing Beach in Manchester-by-the-Sea
  • West Beach in Beverly

Not to mention all of the beautiful nature trails winding throughout the wonderful landscape all around us. We encourage you to check out:

  • Appleton Farms in Ipswich 
  • Beverly Common Trail
  • Salem Rail Trail 
  • Walk along Lothrop Street for beautiful ocean views and magazine-worthy homes
  • Walking by Endicott College for a dive into history alongside roaring ocean views

If you’re hoping to make the North Shore home, we want to be the first to offer you a warm welcome. We know that the journey to get here may feel long, but the joy of planting roots in such a vibrant and wholesome environment and community is worth everything. We can’t wait to help you acclimate to the world around you on the North Shore.

If you’re relocating to the North Shore and have questions, contact us directly, or join one of our groups:

NextDoor: Relocating to Beverly

Facebook: Relocate Beverly, MA

10 Common Homebuying Questions Answered

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Whether you’re in the market for your first home or your tenth, buying a house is an exciting and sometimes, overwhelming time in your life. From your dream must-have lists to the ideal locations, school ratings, neighborhood amenities, and budget, there is a lot involved in the homebuying process. As you continue to navigate through your personal journey of purchasing your next home, many questions may arise throughout the process. 

Today, we want to answer the ten most common questions that realtors get asked in the homebuying process. We hope our answers will give you some insight into the process and ease any anxiety about all that home buying entails. One thing’s for sure: buying a home may be a lot of work, but it is worth every list, question, and step in the process to get you into the home of your dreams to enjoy for years to come. 

Here are the ten most common questions about buying a home. 

1. What’s the first step in the home buying process?

Before you begin touring homes and popping into open houses, the first step is to obtain a mortgage pre-approval from a loan officer. This document outlines how much you can afford and how much you’ll get pre-approved for once finalizing your mortgage. This allows you to work directly with a realtor to search for homes within your budget and wishlist. Without it, you don’t have much ground to stand on or a solid number to work with on determining the best homes in your budget. The mortgage officer will run a thorough credit check, verify income, and review other financial documents to determine a max approval amount during the pre-approval process. You may also discuss what type of loan is best for you, downpayment requirements, and overall timeline. 

2. How long does it take to buy a home from start to finish?

The timeline for buying a home varies by person and is mainly driven by how quickly you find a home you want to put an offer on. Some people go through 20 or more homes before finding their dream home, while others just visit a handful before submitting an offer. Once your offer is accepted, the standard timeline from approval to keys in hand ranges from 30 to 60 days based on the terms of the closing agreement. 

3. How does a realtor help me?

Realtors are your go-to industry expert in the search for your next home. They help you schedule showing, provide detailed information on the neighborhood and home specifications, and are often well-versed in the area you are shopping in, giving you the insider scoop on what area, home size, neighborhood, and amenities are right for you and your family. Realtors also work with your mortgage company and other realtors to finalize documents once you’ve closed on a home. In short, realtors are your eyes and ears in the market during the buying process and your go-to expert throughout the entirety of the purchase transaction. 

4. How much does a realtor cost?

In most instances, a realtor does not cost the buyer anything. During the home selling process, the sellers pay a fee to their realtor, which is typically split between the selling agent and buying agent at the time of closing. Buyers may opt into compensating their realtor as part of their realtor agreement. 

5. Do I need to meet a minimum credit score?

Yes, you must meet and maintain a healthy financial status to qualify for a home purchase. Although different loans vary when it comes to credit score requirements, most require a score of at least 620 or higher. In rare instances, a score as low as 580 may work. During your preapproval process, speak with your mortgage specialist about your unique credit situation. If you do not currently meet credit score requirements, your mortgage lender will often provide you with a path to improve your score and qualify for the loan you need over a period of time. 

6. How much does my down payment cost?

Down payment cost depends on the type of mortgage loan you use. However, in most cases, you can expect a down payment to range from 3% to 5% of the total cost of the home. 

7. Besides the down payment, what else should I plan to pay for?

Planning out your financial path during the homebuying process is an essential part of setting yourself up for success. Although a down payment is typically the biggest chunk of the out of pocket expense you’ll face, there are other fees you should know about and save up to cover including:

  • Closing costs
  • Homeowners insurance
  • HOA fees (if applicable)
  • Property taxes
  • Home repair and maintenance

8. Are there any programs I could qualify for?

Yes, in some instances, you may qualify for special home buying programs such as:

  • VA Loans
  • USDA Loans
  • FHA Loans

Speak with your real estate agent and mortgage lender to determine what loans you qualify for. 

9. What advice would you give first-time homebuyers?

Buying a home for the first time is a big feat, albeit exciting. There are plenty of things to consider before taking the leap on submitting an offer for your first home. Our advice is this:

  • Make sure you have a strong financial cushion to help pay for all costs associated with a down payment, closing costs, and other costs that may arise during the home buying process.
  • Keep an eye on your credit score and work with your mortgage officer to follow recommended steps to keep your finances in tip-top shape.
  • Use a realtor who understands the area and has experience working with first-time home buyers.
  • Don’t be afraid to ask questions.
  • Prepare to compromise on your dream wishlist.
  • Enjoy the journey!

10. Why buy a home in New England?

We may be biased, but New England has our heart. From the picturesque winters and crisp falls to the blooming springs and warm and welcoming summers, we couldn’t think of a better place to call home. There is nothing like experiencing all four seasons in the glory of your backyard. Not to mention, the schools are top-rated, the seafood is out-of-this-world and the history is all-encompassing. So whether you’re new to the area or have called New England home for a while, we couldn’t think of any reason not to consider calling this lovely side of the United States home. 

If you’re in the market for a home this year, it’s always important to stay up-to-date on the latest market trends, understand the entirety of the buying process, and connect with professionals who are willing to travel the entirety of the home buying process with you to make all aspects of this next chapter easier on everyone. To learn more about buying a home, or to begin the process contact us today. We would love to help you get into the home of your dreams this year.

Understanding the Fees Associated with Buying a Home

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When it comes to buying a home, whether your first or tenth, understanding exactly what goes into buying it, especially when it comes to money, is crucial. Outside of the direct cost of a home, there are various fees associated with purchasing a home. Those fees can sometimes vary based on the offer presented to the seller, the current market conditions, and the type of home loan you decided to go with (and qualify for!).

Although it would be magical if all we had to worry about was the listing price, that’s just not the reality of the housing world. The good news is that my team and I believe in the power of transparency and getting you as ready as possible for the new big adventure in your life: a home purchase.

After you land on a favorable mortgage offer and solid preapproval, it’s important to remember that, although exciting, having a comfortable amount of money saved ahead of time will help you tackle all the fees associated with buying a home without the added worrying of scrambling to get your ducks in a row as you’re on the hunt for your dream home.

Let’s break down the costs associated with buying a home so that when you’re ready to step into the world of homeownership, you are ready and able to afford the home you adore.

1. Down Payment

A down payment is the amount of money you put down, upfront, on your total home purchase. It is deducted from the total purchase price at the time of sale and not part of your standard mortgage payment. Most home loans require a down payment of some kind. If you are opting for a conventional or FHA loan, a down payment is required. FHA loans require a down payment of at least 3.5%, while conventional loans vary based on property type, location, and loan terms. Conventional loan down payment amount is typically anywhere from 3% to 20%.

The only loans that do not require a down payment are VA loans (available only to military members) and USDA loans (used to purchase homes in rural areas as designated by the USDA).

It is a good rule of thumb to have about 10% of the total home cost saved for a down payment. If you spend less, great, as that can be used to cover other fees.

2. Closing Costs

Before you can get keys in hand for your new home, closing cost payout is required. “Closing costs” is an umbrella term used to describe all the fees associated with pulling a mortgage. Typically, they range from 2% to 5% of your loan’s principal.

Although different for every situation, they often include:

  • Credit check fee
  • Application cost
  • Appraisal
  • Home inspection
  • Underwriting fees
  • Title search
  • Title insurance
  • Transfer tax

In some cases, the sellers will cover closing costs (in partial or full) based on the terms of the final offer. Therefore, it is important to speak with your loan officer to determine exactly what fees you’ll need to pay out under your specific closing costs.

3. Homeowners Insurance

This type of insurance helps to protect you financially from unexpected events that could significantly damage your home. Think natural disaster, theft, or in-home accidents, like fire.

Homeowners’ insurance isn’t required by law, but most mortgage lenders require it. The cost varies by loan details and location and the options seem quite endless for coverage. We always encourage you to compare different options and rates to choose one that best suits your needs and budget.

4. HOA fees

If you’ve purchased a home within a designated community, there may be HOA or homeowner’s association fees you have to pay on a monthly, quarterly, or yearly basis. Although different for everyone, the specifics of your HOA requirements will be outlined in your homeowner’s purchasing agreement. Fees are extremely variable and are set into place by the homeowner’s association of your community.

Your dues cover specific services that the association provides, which may include security, a pool, a gym, or landscaping and maintenance.

5. Property Taxes

Like any big purchase, tax is something that comes with the territory. In most cases, property tax is included in your monthly mortgage payment but is separate from the interest and principal portions. Property taxes are paid for the entirety of homeownership and are based on the assessed value of your property.

There are various fees outside of the standard purchase price when purchasing a home to keep in mind. Although these are the most common and general fees, other fees could include home upkeep, renovations, or other non-standard items or requirements based on your unique home, location, or needs.

If you’re in search of your dream home and hoping to secure the funds needed to purchase, we’d love to help you through the process. Contact us today to start your journey to homeownership in New England.

My Favorite Holiday Gift Basket Ideas

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Well, it’s official. The holiday season is upon us. From turning on holiday music and building gingerbread houses to decorating the Christmas tree and snuggling up with a nice cup of hot cocoa, there is so much to enjoy this time of year. 

One of my favorite things about the holidays is gift-giving. Nothing makes me happier than being about to surprise a friend or family member with a gift that they adore. One of my favorite things to do every day is support small businesses and shop locally. Marrying two of my favorites together makes for a memorable holiday for our loved ones and is beneficial for our communities. 

As we approach the last few weeks before Christmas, it feels like crunch time when it comes to checking off everyone on our nice list. Whether your list has grown unexpectedly or you’re slowly but surely moving through it, a great way to put together a last-minute gift is by making a curated gift basket. Themed gift baskets are a fantastic way to gift some of your favorite items while celebrating your recipient and the holiday season.

To spread some holiday cheer and make your shopping a bit easier, I thought it would be nice to share some of my favorite gift basket ideas with you. 

Explore these unique gift options by theme, and shop locally this season. 

1. Family + Children

If you have a family on your gift list, consider making them a basket filled with treats, games, and activities they can enjoy together. Grab some age-appropriate board games, locally produced snacks, and a bottle of wine for the parents to enjoy together. 

Also, consider adding some gift cards for family experiences that they can enjoy after the holiday season has passed. Here are some of our favorite family-friendly spots to consider:

  • Tastebuds is an excellent option for families who love to cook and enjoy good food together. They host cooking classes and parties for anyone two and older in Beverly. Here, you can attend mommy and me classes, kids-only classes, adult-only classes, or a private class for the entire family. A great gift option to set up a love for cooking at an early age; a great, interactive gift for the whole family. 
  • Give the gift of theatre at North Shore Music Theatre in Beverly. With show offerings suited for all family members, your gift recipients can enjoy the magic of theatre right in the heart of their town. A perfect family-friendly show to consider gifting is “A Year with Frog and Toad,” A whimsical musical performance follows two best friends through all four seasons. Filled with fun, music, and imagination, the entire family will be enchanted, making this an unforgettable memory and gift. The show takes place on 03/26/2022.
  • The perfect gift for an artsy family, Clay Dreaming Pottery Studio in Beverly offers child, teen, and family classes suited for the whole family.  Consider adding a handmade clay piece to the basket along with a gift card for them to enjoy making clay pottery themselves. Not only will they be left with the memories of a wonderful time had by all, but they will also have the pottery pieces they made to display in their home for years to come. 

2. Friends

Aside from our immediate family, girlfriends are the pillars of love, community, and trust in our lives. Often, friends become our chosen family over the years. So during the holiday season, it is essential to remind them of how much value they add to our lives. Whether you decide to make them a gift basket of their favorite staple items or simply want to give them some new and exciting gifts to pamper them and make them feel loved, these local favorites are some great options. 

  • With 4 locations throughout Eastern Massachusetts, Nails and Co. Spa is the perfect way to treat your bestie this season. From gel manicures and spa pedicures to skin care, facials, and waxing, they have a little bit of everything for the full spa experience. The perfect gift to wind down from the hustle and bustle of the holiday season.
  • A gift certificate to attend workout classes are a great option for the friends in your life who love to stay active. Some of my favorite spots include Fit Ritual and Inner Cycle with multiple locations throughout the North Shore. An added bonus is if you join them in trying out a new class in the New Year.
  • Everyone loves a little pampering. So why not gift a blowout at a luxe blowdry and esthetics bar in Beverly? Prette is the self-proclaimed “destination to feel your most prettiest self.” Let the gift card lead as the theme of the gift basket and include other self-love spa day items such as a new wet brush, a makeup set, a bottle of their favorite wine, an eye mask, and some local, delicious chocolate. 
  • If your friend considers herself a foodie, then Frank is the place to send her. A place that has lived the idea of farm-to-table, before it was the mainstream, Frank offers delicious, nutritious, and locally sourced menu items that are simply to die for. Offering a brunch, daytime, and nighttime menu, your friend, can enjoy everything from florentine benedict to a savory raw bar and charcuterie board. The ultimate place to sit back and indulge after a long holiday or weeknight. Pair this gift card in a basket with a bamboo cutting board, a new apron, a cheese platter set, and some decadent cheeses, and a perfectly-paired bottle of wine. 
  • Looking for unique gifts, home decor, or plants for a friend who has everything? Look no further than Roost & Company or Oak + Moss. Both offer sustainably-based paper and gift items. Grabbing items at these two shops is the ideal way to shop locally while scoring gifts that excite. 

3. Spouse

Sometimes it’s hard to shop for the ones closest to you, especially if you feel they already have everything or claim that they don’t need anything. So this year, consider putting together a fun and romantic gift basket of things you can enjoy together as a couple.

Some of my favorite options include:

4. New Homeowner

Do you have a friend or family member who recently purchased a home? One of the best gifts you can give them is a gift basket filled with fun and valuable things they can use in their new home. 

Some of my favorite new homeowner gifts include:

  • Plants from Oak + Moss with decorative and unique pots
  • Home decor items from Simply Placed
  • Snacks and wine
  • A fresh bouquet in a colorful vase
  • Soaps, candles, and lotions

 

Whoever you’re shopping for this holiday season, we encourage you to choose gift items that excite their senses and leave lasting memories for years to come. Above all, we hope that you can enjoy the season surrounded by those you love most while sharing the joy of gift-giving with all of those who are special in your life. So, from all of us, Happy Holidays and Merry Christmas! 

How to Design a Beautiful Guest Bedroom in Your Home

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One of the best things about owning your own home is sharing it with the people you love most. From family and friends to neighbors and guests, creating a place that you consider your sanctuary to host in is a beautiful thing. 

Are you one who loves to have guests over? Or maybe you’re just in the perfect location for your house to be unofficially deemed the home of the holidays. Whether you consider yourself the hostess with the mostest or like to keep it more low-key while guests visit, having an intentionally curated space in your home for guests is essential, any time of year.

No matter how you decide to decorate your spare or guest, bedroom make sure that it’s clean, comfortable, and uncluttered. The space should exude warmth for a welcoming vibe while being a place of relaxation to lay your head after a long day of travel and connection. 

Here are my top tips for designing a beautiful guest bedroom. 

1. Pick a theme.

Often, people believe that a guest room is a free-for-all space when it comes to shedding some design inspiration. Although this is true, to some extent, the theme of your guest space should match the aesthetic of the rest of your home. It should be a complimentary room to the main living spaces and not stick out like a sore thumb. A mismatch can cause it to feel too isolated or unwelcoming. 

Picking a theme is a great idea, but make sure it aligns with your full home’s design goals. Great options for themed guest rooms include natural, farmhouse, modern, hotel-chic. Whatever theme you decide on, make sure that each piece of furniture and accessories works within your theme effortlessly. 

2. Keep it cozy.

Coziness is the name of the game when it comes to designing a guest room. For your guests, whether they’re traveling from across the country or across the city, a guest room acts as an oasis space, allowing them to relax and unwind in comfort. 

Include cozy items like oversized pillows, plush blankets, and soft throw rugs. Consider going a step further by adding deluxe bathrobes and extra large towels. If possible, make the thermostat in the guest room a separate entity from the rest of your home so that your guests can choose their most comfortable setting. Finally, don’t forget staple comfort items such as books, a television, or ample lighting. 

3. Take advantage of natural accents in the room.

Many New England homes are filled with old-world charm. From natural hardwood floors to vintage fireplaces, there is a lot of beauty to be found in natural home elements. If your guest room is graced with a piece of history, don’t be afraid to show it off. Place your furnishings around the accent pieces to showcase them. Decorate mantels and shine hardwood floors. Add an oversized pillow to a bay window bench seat to instantly transform it into a reading nook. All of these small elements make the room feel personalized and worldly. 

4. Keep the clutter out.

Don’t ever treat your guest room like a storage closet. Do your best to keep clutter out at all costs, even in the guest closet. Consider this an active living space and use it as a study or relaxation room when guests are not visiting. This will allow you to recognize it as a living space instead of a storage bin. Before guests arrive, clean up any clutter throughout the area to ensure they walk into a freshly cleaned room. 

5. Don’t skimp on furniture.

Don’t leave your guest room feeling extra sparse if you have the extra space. Lack of furniture can lead to a lack of feeling cozy and comfortable. Instead, consider adding intentional elements in the space, like a desk, small dresser, and corner reading chair to make it functional without feeling cluttered. 

6. Update for each season.

When decorating for the season throughout your home, don’t forget the guest room. Decorate with fresh flowers in a vase in spring. Brighten up the space with light linens in the summer. Add a bit of fall warmth in the autumn. Bring in all that’s merry and bright in the winter months. A fun way to tie the guest room into the other rooms of your house is to include it with each seasonal change. Your guests will feel inspired and at home there with a few extra seasonal decor pieces.

7. Consider your guest list.

Your guest room is only as good as the guests who stay in it. If it’s not suited for your type of people, then it’s not going to feel comfortable for them. Know what they like, what makes them happy and comfortable, and opt to include those elements in the space. Whether it’s extra pillows, weighted blankets, or more natural light, make it a space that’s welcoming to the people you care most about while also functioning as a happy place for you too. 

8. Don’t forget to stock it with essentials.

Traveling is hard enough. Most of the time, guests forget something. Whether it’s a toothbrush, body soap, or their favorite hair dryer, stocking up on the essentials just in case helps alleviate any added stress on their plate. If you have a guest bathroom, fill it with travel-sized items that they can quickly grab during their stay with you. Think of hotel front desk offerings and go from there. Make sure the room is well-stocked with towels, blankets, pillows, a change of sheets, and maybe even a welcome basket. Guests appreciate you taking care of the small stuff. 

 

Designing a guest room shouldn’t feel like an added chore on your laundry list of to-dos for your home. Instead, make it a fun experience by choosing a design you love, finding items that make it feel extra cozy, and turning it into a home away from home for both you and your guests. Do you love the idea of a guest room, but haven’t found your dream home yet? Let us help! Contact us today to get started on your journey to homeownership- guest room included. 

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