How to Prepare to Buy Boston Real Estate

It's no coincidence that more homebuyers are entering the Boston real estate market this year. It seems the majority of Americans still find homeownership to be a major aspect of the American Dream and are ready to claim their own slice in the near future. Not only do these Boston homebuyers find real estate to be the best long-term investment (even over stocks!), but they recognize the benefits associated with owning over renting.

And this real estate confidence is causing the markets to heat up! We may be seeing more bidding wars and higher sale prices, especially in the luxury real estate sector, as we move into the summer months— you don't want to delay!

So how do you go from buyer to owner? There are steps to take before you begin the whole mortgage song and dance and the following can help you get started:

Get Pre-Approved, Not Just Pre-Qualified
It's great to get pre-qualified, but go the extra step to submit a pre-approval letter. When you're pre-approved to purchase a Boston home, it not only gives your real estate agent peace of mind, but the home seller. The pre-approval letter shows that you're serious about buying a home and a lender is confident in your ability to secure a home loan and make it to the closing.

Get to Know Your Lender
Before you begin the Boston real estate process of buying a home, get to know your lender. Most of all, be responsive to what they ask for. If they ask for more information on your finances or request certain documents, be ready to provide them and respond. The more willing you are to provide what they need in terms of paperwork and details, the less likely you are to have problems leading up to your closing. Of course this applies to all others involved in your transaction, including title companies and the like.

Be Decisive
Know what you want out of your Boston home, but do not act on a whim and purchase the first home you see. Do your research on the property— follow expert advice to place your home sale contingent on a home inspection. You may fall in the love with the property, but will quickly fall out if you find the home comes packaged with a host of problems.

As your Boston real estate expert, I can help you make all of the right decisions leading up to your home purchase. If you're ready to start your home search for homes in Boston, feel free to contact me on what's available. Have questions? I'm here to answer them!

Ken Snyder

Keller Williams Realty Boston-Metro

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