Tony Economou - RE/MAX Advantage I



Posted by Tony Economou on 12/21/2017

We’re not taught much about homeownership when we’re young. Like paying bills and taxes, it’s something we’re all expected to pick up along the way. But with something as important and expensive as buying a home, there should be a guide to help first time homeowners determine if they’re ready to enter the real estate market.

Today, we’re going to attempt to provide you with that guide. We’ll offer some of the prerequisites to homeownership to help you determine if you’re ready to buy your first home.

A rite of passage

Buying a house is a significant moment in anyone’s life. It’s often a precursor to starting a career, a family, and settling in a part of the country you will likely call home for a large portion of your life.

It’s also overwhelming.

There’s much to prepare for before buying your first home. You’ll be calculating a lot of expenses, thinking about jobs and schools, and learning new things about home maintenance. Here are some things to think about before buying your first home.

Can I afford it?

The most obvious question first time buyers ask themselves is whether they can afford a home. What many don’t ask, however, is if they can afford all of the unexpected expenses that come with homeownership.

Everyone knows they’ll be making mortgage payments. But to decide if you can really afford a home you’ll have to make a detailed budget. Here are some other expenses to consider:

  • Mortgage closing costs

  • Property tax

  • Home insurance

  • Maintenance and repairs

  • Home improvement

  • All utilities

  • Moving costs

Do I plan on staying in the area?

When you buy a home, you’re not just committing yourself to the house itself, but also to the area you live in. Typically, it only makes sense to buy a home if you’re planning on staying in it for a number of years (usually five or more). Ask yourself the following questions to determine if you can truly commit yourself to your area.

  • Could my career lead me to transferring to another location?

  • Could my spouse’s career lead them to transferring?

  • If children are in the present/future, is the local school district what I’m looking for in terms of education for my child?

  • Will I want to move live to family?

  • Will I have to move soon to care for aging parents?

  • Do I like the weather and culture in the area?

Is my income stable?

Owning a home is much easier when you have a stable income or two stable incomes between you and your significant other. It help you get preapproved for a mortgage and help you rest easy knowing that you can keep up with the bills each month to maintain or build your credit.

Stability doesn’t just mean feeling comfortable that your company won’t get closed down or that you’ll be dismissed from your job. It also means that there are frequent openings in your field of work in the area you choose to live. So, when planning to buy a home, make sure you factor in the potential travel distance to cities or places you could potentially work.

Am I prepared to put in extra work?

If you currently rent an apartment, you’re most likely not responsible for maintenance outside of basic cleaning. Owning a home is a different story. You’ll be taking care of the house inside and out. That means learning basic maintenance and buying the tools for the job.

It also means mowing the lawn, cleaning the gutters, shoveling snow off of the roof, and other menial tasks that you’ll need to make time for.





Posted by Tony Economou on 12/20/2017


713 Franklin Street, Worcester, MA 01604

East Worcester

Multi-Family

$274,900
Price

3
Units
3,002
Approx. GLA
INCREDIBLE LOCATION to own a three family! This property is located approx. 1 mile to UMASS/Memorial Lake Ave, across the street from the beautifully renovated Harrington Park, a quarter of a mile to the Ecotarium, mere minutes to all the fine restaurants on Shrewsbury Street as well as just about a mile or so from the MBTA Commuter Rail. 2 of the 3 units are in good overall condition and the first floor unit has 1 room that needs to be finished and there may be the potential for an additional half bath. Rents are below market for the area and there is plenty of off street parking. The roof is recent, most of the windows are vinyl replacement windows, 2 of the three units are heated by gas on gas stoves and the first floor by gas hot air. Here is an amazing opportunity to own a 3 family in a great location in the City of Worcester!
Open House
No scheduled Open Houses

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Categories: New Homes  


Posted by Tony Economou on 12/17/2017


165 Holden Street, lot B, Worcester, MA 01606

North Worcester

Land

$69,900
Price

0.19
Acres
Residential
Land Type
POTENTIAL HOUSE PLAN IS ATTACHED. Over 2500 sf. Home is possible with a 2 car garage under. Take a look. Beautiful ANR lot on Holden Street near Brattle St. Location allows for easy highway access to I-190 and I-290 and is just about 15 minutes to I-495. It's also just a few minute walk to the park and basketball court on Ararat St and is in the new Nelson Place School district which is scheduled to open this Fall. Building envelope is approx. 31 feet across by 54 feet deep. Here it is, get your house number and permit and start building. Can be packaged with 1C Smith Lane, MLS # 72174505
Open House
No scheduled Open Houses

Similar Properties





Tags: Worcester   Real Estate   01606   Land  
Categories: New Homes  


Posted by Tony Economou on 12/17/2017


1C Smith Lane, Worcester, MA 01606

North Worcester

Land

$74,900
Price

0.22
Acres
Residential
Land Type
Beautiful lot just off Holden Street in Worcester near the "Brattle Stop". Fairly flat lot with a generous building envelope awaits your house plan. Location offers walking distance to parks and basketball court, easy access to I-190 and just about 15 minutes to I-495. Nearly a 1/4 acre lot for you to build on. This can be package with Lot 1B Holden street, mls# 72161688.
Open House
No scheduled Open Houses

Similar Properties





Tags: Worcester   Real Estate   01606   Land  
Categories: New Homes  


Posted by Tony Economou on 12/14/2017

Adding a condo to the housing market may seem difficult at first. Lucky for you, real estate agents can help you streamline the process of listing your condo, stirring up interest in your property and ensuring you can maximize its value.

What does it take to find the right real estate agent to sell your condo? Here are three questions that you should ask a real estate agent before you hire this professional to sell your condo:

1. Have you sold condos in the past?

When it comes to selling a condo, it is always better to err on the side of caution. Therefore, you may want to consider hiring a real estate agent with condo selling experience over a real estate professional who exclusively sells homes.

A real estate agent with condo selling experience may be able to offer insights that you won't receive elsewhere. For example, this real estate professional may be able to provide tips to help you enhance your condo without the risk of violating homeowners' association (HOA) rules.

Plus, a real estate agent with condo selling experience will understand how to manage home selling challenges that may arise. This housing market expert will be able to address such challenges quickly and limit their impact on the condo selling process.

2. What approach will you take to sell my condo?

As a condo seller, your goal is to sell your condo as quickly as possible and ensure you can get the best price for your property. Meanwhile, you should find a real estate agent who shares your goal and will do everything possible to promote your residence to the right groups of property buyers.

Initially, a real estate agent should learn about your condo selling needs. He or she will listen to your condo selling concerns and ensure you are fully supported throughout the condo selling cycle.

A real estate agent should be ready to promote your condo in a variety of ways too. From social media posts that highlight the size and beauty of your condo to open houses that enable property buyers to check out your residence, a real estate agent should go above and beyond the call of duty to showcase your condo.

3. Why should I hire you?

No two real estate agents are identical, and as such, you're sure to hear lots of different responses to this question. Consider a real estate agent's answer closely, and if you are satisfied with the response, you may want to move forward with this housing market professional.

For home sellers, it is essential to collaborate with a real estate agent who makes you feel comfortable. This real estate professional will communicate with you regularly and keep you informed at each stage of the home selling process. As a result, you'll never be left in the dark as you move closer to selling your condo.

Ready to sell your condo? Use the aforementioned tips, and you can hire a great real estate agent to help you simplify the condo selling process.




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