Robyn Nasuti's Blog
Believe it or not, buying a condo can be a quick, easy process, particularly for those who understand their homebuying needs.
Ultimately, there are several factors to consider before you purchase a condo, including:
1. Your Budget
How much can you afford to spend on a condo? You should evaluate your homebuying budget closely to ensure you can cover all of the costs associated with condo living.
Getting pre-approved for a mortgage usually is ideal. With a mortgage in hand, you can browse a wide range of condos and find one that matches your budget perfectly.
Furthermore, don't forget to account for homeowners' association (HOA) fees before you buy a condo. HOA fees will vary depending on the condo community, and you should learn about them in advance so you can budget accordingly.
2. Property Size and Location
How much space do you need to accommodate your family? Consider the short- and long-term ramifications of a condo purchase, and you should have no trouble finding a condo that is the right size for you.
If you're uncertain about how big of a condo that you'll need, don't hesitate to consult with a real estate agent. This housing market expert will learn about your homebuying needs and help you narrow your search for the ideal condo.
Also, be sure to consider the location of a condo. If you want to find a place to live near school or work, you should search for condos that will help you cut down on your commute time.
3. Condo Rules and Regulations
Condo living is different from living in a traditional house. In a condo community, you'll have your own property, but there may be numerous condo rules and regulations in place that you'll need to follow at all times.
For example, many condo owners cannot modify a property's exterior without first getting approval from an HOA board. This means if you want to paint your condo bright pink or upgrade the property's windows, you'll need to ask the HOA board for permission.
Examine a condo community's rules and regulations prior to purchasing a condo. This will enable you to review the HOA board's mandates and determine whether you would feel comfortable following these rules and regulations.
When it comes to finding a condo, there is no need to look for a property on your own. Conversely, if you work with a real estate agent, you can take the guesswork out of searching for a top-notch condo.
Finding a real estate agent with condo experience is essential. This real estate professional will set up condo showings, keep you informed about new condos as they become available and negotiate with property sellers on your behalf. That way, this real estate agent will make it easy for you to acquire a first-rate condo at a budget-friendly price.
Kick off your search for the perfect condo today, and you can move closer to securing a condo that will serve you well for an extended period of time.
12 Mowry St, Mendon, MA 01756
If you are thinking of buying a home in the near future, there’s one three-digit number that could be oh so important to you. That number is your credit score. Read on to find out how a credit score can affect you and the steps you can take to be sure that your credit is in good standing when you head to apply for a mortgage.
What Is A Credit Score?
Your credit score is checked by lenders of all kinds. Every time you apply for a loan or a credit card, there’s a good chance that your credit score is being pulled to see if you qualify for the loan. Your credit score is calculated based on the information on your credit report. This information includes:
Length of credit history
New credit accounts opened
The areas with the most impact on your score is your payment history and your debt-to-credit ratio. This means that on-time payments are super important. You also don’t want to get anywhere close to maxing out your credit cards or loan amounts to keep your score up.
What’s A Good Score?
If you’re aiming for the perfect credit score, it’s 850. Most consumers won’t reach that state of perfection. That’s, OK because you don’t have to be perfect to buy a house. If your score is 740 and above, know that you’re in great shape to get a mortgage. Even if your score is below 740 but around 700 or above, you’ll be able to get a good interest rate on your mortgage. Most lenders typically look for a score of 620 and above. Keep in mind that the higher your credit score the better your interest rate will be.
What If You Lack Credit History?
Most people should get a credit card around age 20 in order to begin building credit. You can still qualify for a mortgage without a credit history, but it will be considerably harder. Lenders may look at things like your rent payments or car payments. Lenders want to know that you’re a responsible person to lend to.
What If Your Score Needs Help?
It doesn’t mean you’re a hopeless case if you lack good credit. Everything from errors on your credit report to missed payments can be fixed. The most important thing that you can do if you’re buying a home in the near future is to be mindful of your credit. Keep an eye on your credit report and continue to make timely payments. With a bit of focus, you’ll be well on your way to securing a mortgage for the home of your dreams.
Perhaps the only downside of living in a relatively secure, desirable part of town is that you might let your guard down completely. When that happens, especially on a regular basis, you're creating a vulnerability that could eventually be taken advantage of. That's why is pays to be consistent when it comes to locking doors, teaching your kids good security practices, and always making your home appear as if someone's home.
Your home IS your castle and -- short of building a moat -- there are a variety of practical measures you can take to keep it safe and secure.
- Install a burglar alarm or home security system. There are a lot of options for making your home more burglar-proof, such as installing video surveillance cameras, window and door alarms, or a whole-house alarm system that alerts the local police department or alarm monitoring service of a break-in or other security breach. Virtually any security steps you take will help "tip the scales" in your favor, but a professional advisor from a reputable home security company can assist you in identifying potential vulnerabilities and choosing the options best suited for your budget, your degree of risk, and your comfort level.
- Plan ahead when going on vacation. Allowing your mail or newspaper deliveries to pile up on your front steps or driveway is like extending an open invitation to burglars who might be scoping out the area. Temporarily suspending your deliveries while you're away is a good starting point for keeping your house looking occupied in your absence, but you might also ask a trusted neighbor to keep an eye out for unexpected deliveries. If you really trust them, you could even give them a key to your house, in case they're inclined to water your plants and take care of your pets! (That would eliminate the need and expense of sending your dogs and cats to a pet-boarding facility.) One tactic that a lot of homeowners forget about when they're going away for a few days (or even just overnight) is to hook up an automatic timer to a few of their lights. That simple step will help ensure that their house isn't pitch black at night. There's also the more expensive strategy of having a home security system that can be activated and monitored from your mobile device. Do-it-yourself installation kits are available, but some homeowners prefer the technical support features that come with a professional home security service.
- Outside lights can be a deterrent. A few motion-activated outdoor floodlights placed in strategic locations around your home can significantly reduce the risk of night-time prowlers staying on your property for very long. Since one of their primary objectives is to remain undetected and low profile, bright spotlights that turn on when they approach the house will often be enough to send them on their way.