Dino Rossi
RE/MAX Preferred Properties | 617-969-0676 | dino@realestateman.com


Posted by Dino Rossi on 12/31/2017

Buying a new home can be an exciting but anxiety-inducing experience. With so many things to consider, it can be difficult to keep track of the things that matter most to you.

This process is complicated further when you discover a second or third home that you like as much as the first and you’re trying to decide which one to make an offer on.

In today’s post, we’re going to talk about how you can effectively compare houses to ensure that you’re making the most sensible, long-term decision for you and your family.

It’s all about the spreadsheet

Today, our method isn’t going to rely on any fancy new apps or paid tools. Everything you need to accomplish your spreadsheet is a tool like Google Sheets (it’s like a free version of Excel) or a simple pencil and notebook.

The columns of your spreadsheet will be made up of the factors that will influence your decision. This will include the obvious details like the cost and square footage of the home, but also finer details like its proximity to key places in your life.

The rows of your spreadsheet will be the properties you’re comparing. Now, it may be tempting to start listing every house on your radar in the columns of your spreadsheet. However, I think it’s more time-effective to only include the homes that you’re likely to make an offer on. This means doing some hard thinking and having a conversation with your family about your realistic goals for buying a home.

What is most important to you in a home and neighborhood?

Let’s turn our attention back to the top row of your spreadsheet. We want to fill that section with around 10 factors that are most important to you in a home and the location the home will be in.

In this section, you can include the estimated cost of the home and the estimated monthly expenses for owning that home (utilities, taxes, etc.).

Here’s the secret weapon of our spreadsheet, however. Rather than listing the actual cost of the home in this row, we’re going to give it a rank of 1 to 5. A score of 1 means the house is a lot more expensive than you want. A score of 5 means the house is the ideal cost. A 3 would be somewhere in the middle.

We’re going to use this 1 to 5 ranking system for all other factors on our spreadsheet as well.

Next to these costs, you’ll want to add other important factors to your home buying decision. Does it have the number of rooms you’re looking for? If a backyard is important to you, does it provide for that need?

In terms of upgrades, how much work will you have to do on the home to make it something you’re satisfied with? For DIY-minded people with time to spare, home improvement might be a welcome concept. For others, it simply would take too much time to accomplish everything you want. So, when you fill out the “Upgrades” column of your spreadsheet, make sure you determine a system for ranking the homes that suits your needs.

House location shouldn’t be overlooked

It’s a sad truth, but in today’s busy world, the average homeowner spends most of their time away from home, whether they’re at work, commuting, or bring their kids to and from after school activities.

You’ll want at least one column on your spreadsheet to be devoted to location. When ranking the location of a home, consider things like commuting time, distance to schools, hospitals, parks, and grocery stores. All of these things will have a larger impact on your day-to-day life than small details of the house itself.

Ranking the homes

Now that you have the first row and column of your spreadsheet built, it’s time to fill in the details and tally up the totals. These numbers will help inform your decision as to which house is really right for you.




Categories: Uncategorized  


Posted by Dino Rossi on 11/26/2017

As a homebuyer, you'll want to do everything possible to guarantee a quick, seamless homebuying journey. Because if you're not careful, you may be forced to deal with a nightmare homebuying experience.

Ultimately, there are many ways to ensure that you can avoid a nightmare homebuying experience, such as:

1. Narrow Your Home Search

Although you know that you want to buy a home, it pays to consider exactly what you'd like to find in your ideal residence. By doing so, you can narrow your home search and avoid the homebuying nightmare of pursuing residences that fail to meet your expectations.

Think about which features are must-haves for your new home, as well as which features you can afford to live without.

For example, if you require a home that is close to your office, you can search for houses near your workplace. On the other hand, if you want to live in a small town, you can remove city residences from your home search.

Establish priorities as you search for your dream house – you'll be glad you did. If you separate your home must-haves from your wants, you can simplify your home search and move one step closer to finding your ideal residence.

2. Get Your Finances in Order

How much can you afford to spend on a house? Create a homebuying budget, and you can avoid the risk of browsing available residences that fall outside your price range.

To determine how much money you have available for a home purchase, it often helps to meet with local banks and credit unions. These financial institutions can provide details about a variety of mortgage options and help you select a mortgage that corresponds to your finances.

Also, you should check your credit report before you buy a home. You are entitled to a free annual copy of your credit report from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Take advantage of this perk, and you can learn your credit score and take steps to improve it prior to purchasing a house.

3. Hire an Experienced Real Estate Agent

An experienced real estate agent understands both the homebuyer's and home seller's perspectives. As such, this housing market professional can help you analyze a home seller's point of view and negotiate the best price on any home, at any time.

Typically, an experienced real estate agent will meet with you and learn about your homebuying goals. This housing market professional then will map out a homebuying journey, one that helps you streamline the process of acquiring your ideal house.

Let's not forget about the assistance that an experienced real estate agent can deliver throughout the homebuying journey, either. A real estate agent can provide expert insights into the housing market and help you make informed decisions, thereby reducing the risk of a nightmare homebuying experience.

Take the guesswork out of buying a home – use the aforementioned tips, and you can minimize the risk of a nightmare homebuying experience.




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Posted by Dino Rossi on 11/19/2017

There’s a lot to buying a home. There’s no perfect home. Home inspectors will tell you that even brand new houses have their issues. If you know the right questions to ask before you even buy a home, you’ll be armed with a knowledge that you wouldn’t otherwise have. There are some very revealing questions that you can ask sellers to help you get some insight into a property. These questions can usually also be answered by your home inspector when you get to the inspection process.  


Have You Had Water Damage Or Pipe Issues?


Water damage is a big deal. It can hide mold and other damage. There’s also a big issue if the pipes in a home have previously burst, or caused water damage on their own. Especially in cold climates, water damage and burst pipes can be common if the piping has not been properly insulated.


The Age Of The Roof


If the roof on a home has been recently replaced, that’s a huge bonus to buying the home. Roofing typically lasts about 25 years until it needs to be replaced. If a roof is getting close to the end of its lifespan, you can ask for a rebate or be wary that repairs will need to be made in the near future. 


Pests


If a home has had any kind of significant pest infestation, then you’ll want to know about it and be sure that it has been resolved. There could be some underlying conditions within the home itself that have made the pest infestation possible. Whether there’s some unaddressed holes, rotting wood, or hidden leaks, they’ll need to be taken care of so that an infestation doesn’t reoccur. 


Paranormal Activity


This may sound strange but some people will run out of their homes as fast as they can if they see a ghost or something else. “Haunted houses” are a particularly difficult sell. This includes homes with:


  • Ghost sightings
  • Murders
  • Suicides
  • Unusual deaths
  • Drug labs


Many states require that these problems and conditions be revealed in a disclosure statement. Other states do not legally require this. Check local laws to find out more about paranormal activity disclosures.

Some other great questions to ask when you’re in the process of buying a home are:


  • Will your car fit in the garage?
  • How much are the utility costs?
  • Who are the utility companies?
  • Does the home have a sewer or a septic tank?
  • Are there any warranties left on items in the home?


Asking these questions not only helps you as you move into a new home, but it helps you to get a better understanding of what types of insurance you need to put on your home. If you need to add a few extra pieces to the policy to protect yourself due to any information that you learn, you’ll feel safer.




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Posted by Dino Rossi on 11/5/2017

Buying a home may seem like a smart financial move. However, it may not always be the right time or the right move for you. While buying a home is a great investment, you may not be ready to buy a home of your own. The following questions should help you to determine whether or not you are fully ready to buy a house in the near future.


How Much Money Do You Make? How Much Have You Saved?


buying a home is a significant expense. First, you’ll need quite a large sum of money for a downpayment and closing costs on the home. Second, to get approved for a mortgage, the lender will look at every part of your finances from your income to your assets. Once the home is purchased, you’ll also need quite a bit of capital for expenses including insurance, taxes, HOA fees, emergency funds, utilities, and furniture. You don’t want to buy a home only to be overwhelmed with costs. You want enough of a financial cushion to enable you to furnish your home, decorate your home, and not have a completely empty bank account. That’s why you should make sure that you do make enough money to buy a home.



How Much Debt Do You Have?


If you have established that your income is enough to buy a home, the next thing that you need to establish is that your debt isn’t too high. Before you enter into the adventure of homeownership, you’ll need to make sure that your bills are under control. These expenses include things like car loans, student loans, and credit card bills. Your lender will put your debt into consideration as a part of your entire financial picture. Your debt (including your proposed mortgage payment) should be less than around 36% of your gross income. Before you take the leap into buying a home, you’ll need to make sure that your debt is under control. If you need to take a step back and pay your bills down before you start house hunting, you should as it will make buying a home easier for you.


Are You Seasoned At Your Job?


In order to secure a mortgage for a home, you’ll need to show that you have been at the same job for a certain period of time. Your average income will probably be calculated based on how long you have been at the company and your job history. You should be able to explain any income gaps, changes in positions or companies. Otherwise, you’ll appear to be an unstable person to lend to. Lenders want to know that you’ll have a steady, stable income.


How Is Your Credit?


In order to secure a mortgage, you’ll need to have a good credit score. Check on your credit report when you begin thinking about buying a home. If your credit is on the low side, you’ll want to work on bringing that score up. 


     




Tags: Buying a home   finances  
Categories: Uncategorized  


Posted by Dino Rossi on 10/8/2017

The homebuying process can be stressful, particularly for those who are purchasing a house for the first time. From the time it takes to find your "dream" home to the final closing, there may be many hurdles that you'll need to overcome to secure your ideal home. As such, it sometimes can be difficult for a first-time homebuyer to maintain a positive outlook during the most challenging times.

Lucky for you, we're here to help you remain calm, cool and collected throughout the entire homebuying cycle.

Now, let's take a look at three tips to help first-time homebuyers maintain a positive outlook at each stage of the homebuying journey:

1. Establish Realistic Expectations

Although first-time homebuyers would like to believe the property buying journey will be quick and seamless, it is important to realize that problems can arise without notice. However, homebuyers who understand the ins and outs of purchasing a house should have no trouble identifying potential issues and minimizing their impact.

For example, a homebuyer who defines his or her ideal residence can narrow a home search accordingly. This homebuyer also will be able to check out a variety of houses based on assorted property buying criteria and boost his or her chances of discovering the perfect residence without delay.

A homebuyer who establishes realistic expectations will be ready for the worst-case scenarios too. And if this homebuyer submits an offer to purchase a home that ultimately gets rejected, he or she will remain confident and be ready to restart the homebuying cycle from stage one.

2. Become an Informed Homebuyer

A first-time homebuyer who learns about the housing market can improve his or her chances of getting the best possible results.

Allocating the necessary time and resources to understand the differences between a buyer's market and a seller's market, for instance, can make a world of difference for any homebuyer, at any time.

Furthermore, an informed homebuyer may be more likely than others to get pre-approved for a mortgage. With a mortgage in hand, this property buyer can set a budget for his or her home search and increase the likelihood of securing a terrific house at an affordable price.

3. Work with a Real Estate Agent

When it comes to purchasing a home for the first time, why should a homebuyer leave anything to chance? Instead, a homebuyer can work with a real estate agent to reduce the risk of potential pitfalls throughout the homebuying cycle.

A real estate agent is happy to respond to a homebuyer's concerns and questions as the property buying journey progresses. This housing market professional will even help a homebuyer maintain a positive outlook, regardless of what happens. That way, a real estate agent can assist a homebuyer through both good times and bad and ensure a property buyer can purchase a first-rate house that matches or exceeds his or her expectations.

Take advantage of these tips, and any first-time homebuyer can keep things positive at each stage of the homebuying cycle.




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