Checklist: Are You Ready for Homeownership?

Buying a home is a lengthy process that requires months or even years of planning. The end result, however, is to have a home you can truly call your own and to own equity that you can then use later down the road.

Figuring out the right time to buy a home can be difficult for prospective homeowners. You’ll need to have a firm grasp on your finances and personal goals for what you want your life to look like for the next 5 or more years.

Buying a home in more than just a financial commitment. It also means you take on all of the responsibilities of owning that home. Maintenance, both inside and out, can take up a significant amount of your time.

Furthermore, owning a home ties you down to one area. You’ll need to determine if you’re ready and able to settle in one area for the next 5-7 years. This has implications for careers and for family life. Will your job bring you elsewhere? If you change jobs, are there ample opportunities where you live? These are just a couple of the questions you’ll need to ask yourself before deciding whether you’re ready to buy a home.

To simplify the process, I’ve created a checklist for some of the things you’ll need before you’re ready to buy a home. While this list does cover the basics, there may be other factors unique to your circumstances that you’ll have to take into consideration.

So, if you’re thinking about buying a home sometime in the near future, read on for the checklist. And, keep in mind that these are not necessarily mandatory before buying a home. But they will give you the best chance of making a solid investment and securing financial stability.

The home buyer’s preparedness checklist

  • Raise your credit score to 750 or more. A score in the “excellent” range will help you get the lowest possible interest rate on your mortgage. It’s possible to get approved for a mortgage with a score that is much lower, but a high score is ideal and can help you avoid PMI and a high interest rate.

  • Have an emergency fund saved. You don’t want to buy a house and then suddenly find yourself needing money for an emergency. Save a month’s worth of expenses before your down payment.

  • Have an active budget plan for saving up your down payment. Creating a dedicated savings account that you automatically have a portion of your pay deposited into is a good way to ensure that you meet your savings goals.

  • Bolster the case for your financial stability. Lenders will want to see that your income is predictable and regular. Keep records of your income, tax returns, and anything else that can help show that you’re making more than enough money to safely lend to.

  • Have open conversations with your family. If you’ll be buying a home with a spouse and/or children, discuss what you’re looking for in a home. This can include location, size, etc. It’s a good idea for everyone to be on the same page before you ever start shopping for a home.

  • Get preapproved. Getting preapproved for a home loan will make you a better prospective buyer in the eyes of sellers.

  • Run the numbers again. Aside from your mortgage payments, you’ll also have to pay utilities, trash removal, property taxes, and any other expenses related to the home. Make sure you can comfortably afford these while still contributing to savings.

52 Green Ln, Sherborn, MA 01770 has an Open House on Saturday, Jun 16, 2018 at 12:00 PM








52 Green Ln,



Sherborn, MA 01770

Single-Family

$750,000
Price

7
Rooms

3
Beds

3/1
Full/Half Baths

Perfect setting for this sun-filled Contemporary nestled on 3 private acres. This home offers open floor plan, cathedral ceilings, gleaming hardwood floors and large windows. There is a spacious living room, dining room, fireplaced family room with wet bar, and well designed kitchen with comfortable dining area which leads to a private deck. The second level includes a large master bedroom suite with fireplace and full bath, 2 other bedrooms and family bath. Finished lower level with full bath completes the living area. The interior is accented by a rich combination of natural woods, crisp white walls and walls of windows with lovely views. Brand new septic system completed in October 2017 makes this a move in ready home. Extremely convenient, idyllic, one of a kind, country neighborhood of unique homes off the beaten path, yet seconds from Sherborn center for easy commuting! Great opportunity to own a very special home with the #1 rated school system in the state!

Open House

Saturday

June 16
at
12:00 PM to 1:30 PM

Peaceful setting for this fabulous Contemporary! Lots of light, lots of privacy! Convenient location!

Cannot make the Open Houses?

Location: 52 Green Ln, Sherborn, MA 01770    Get Directions

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183 S Main St, Sherborn, MA 01770 has an Open House on Saturday, Jun 16, 2018 at 2:00 PM








183 S Main St,



Sherborn, MA 01770

Single-Family

$599,000
Price

6
Rooms

3
Beds

2
Baths

Absolutely mint, this lovely and bright ranch style home offers easy one level living in move in ready condition! Set well back from the road on 1 acre of open, level and usable land with privacy. Sun filled rooms include open concept kitchen, dining area and fireplaced living room. There is a master bedroom suite with full bath and two additional bedrooms and full bath. The walk out lower level has lots of space including a very generous sized family room and separate at home office. This is the perfect home for the buyer looking for low maintenance, bright open spaces and room for gardening or play, all in an amazingly convenient commuter location with quick access to major routes and shopping. Enjoy all that Sherborn has to offer with bucolic Farm Pond, extensive trails and conservation and # one schools!!!

Open House

Saturday

June 16
at
2:00 PM to 3:30 PM

Easy one floor living at its best. Beautifully maintained inside and out. Fabulous grounds perfect for gardening and play!

Cannot make the Open Houses?

Location: 183 S Main St, Sherborn, MA 01770    Get Directions

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21 Greenwood St, Sherborn, MA 01770 has an Open House on Sunday, Jun 10, 2018 at 1:00 PM








21 Greenwood St,



Sherborn, MA 01770

Single-Family

$1,049,000
Price

9
Rooms

4
Beds

3/2
Full/Half Baths

Delightfully charming & spacious expanded Cape with fabulous curb appeal! Nicely nestled on a private lot amidst lush landscaping, this home offers a wonderfully flexible floor plan with plenty of space for all. There is a gracious open front foyer, stunning fireplaced library, formal fireplaced living room & banquet sized dining room. The kitchen has lots of cabinets, separate breakfast area, stainless and granite & is off a huge well designed and equipped mud room. There are 2 half baths, one for family and one for guests & a first floor master suite with access to back deck. The second level includes 3 very generous sized bedrooms and 2 full baths. There is plenty of space in the huge lower level walk out playroom, which can be used as a media room, exercise room & more. If you are looking for plenty of storage space, this home has it all. A three car attached garage, screened porch & huge deck across the back complete this wonderful package. The setting is exquisite!!

Open House

Sunday

June 10
at
1:00 PM to 3:00 PM

Best value for Buyers looking to build immediate equity! All the bones of new construction with high ceilings, multiple baths, 3 car attached garage, first floor library and so much more!!

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Location: 21 Greenwood St, Sherborn, MA 01770    Get Directions

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