Choosing a Mortgage for Your Boston Home

Buying a home in Boston is a huge commitment that requires a lot of planning. If you’ve kept up with my blog, I’m sure you know this by now! One of the biggest and most complex parts about preparing for your home purchase is finding a lender and getting approved for a home loan. However, before you start mortgage shopping, there are a number of questions you need to ask yourself.    

• What is my five to ten year plan?
• How long do I plan to live in this particular home?
• How important is it to me that I am debt-free?
• Can I afford to take some financial risks? 

Once you can honestly and thoroughly answer these questions, you can begin looking around for a mortgage that will complement your unique situation. How you finance your home purchase is a huge decision that shouldn’t be taken lightly. While I’m sure you’re eager to sign on the dotted line and get settled into your new Boston home, I encourage you to take time to evaluate all of your options before accepting an offer.

Once you find the perfect Boston home, you will need to decide if you want to finance it with a 15-year or 30-year mortgage. A 15-year mortgage will have a significantly lower interest rate, but your monthly payments will be twice as high as that of a 30-year mortgage. Most homebuyers enjoy the flexibility of taking out a 30-year mortgage with the option to make extra payments when their budgets allow.

In a seller’s market, interest rates are typically high. If this is the case when you’re a position to buy a home in Boston, you may want to consider an adjustable rate mortgage (ARM). Your interest rate is fixed at first, but begins fluctuating as market conditions change. Therefore, while you may get stuck with a high interest rate when you buy your home, you can potentially take advantage of lower rates down the road.

If you’re short on cash for a down payment on your Boston home, consider an “80-20” loan. A standard mortgage funds 80% of the purchase price, and a second loan finances the 20% down payment. This method of obtaining a home loan eliminates the need for private mortgage insurance since you are making a down payment of at least 20%.

There are several other options you have as a homebuyer, and there will be additional questions that come up throughout the mortgage application process. As your Boston real estate agent, I can help you address any concerns that surface along the way. It’s my job to steer you towards success whether you’re a first time homebuyer or a seasoned pro. Please let me know once you begin your home search in earnest. I’d be happy to help!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Celebrate Memorial Day in Boston!

The calendar start of summer doesn’t technically arrive until late June. But here in Boston, Memorial Day signifies the unofficial start to the summer season and it’s coming up this weekend! This time of year, many locals take the opportunity to hit the road and travel to Cape Cod or Martha’s Vineyard. If you’re interested in buying a home in Boston, this weekend would be a fantastic time to visit. Fewer crowds will make exploring the city stress-free, not to mention you’ll have an easier time snagging a dinner reservation and getting tickets to a Red Sox game. Here’s your roundup of Memorial Day activities to check out while you’re visiting us in Boston this weekend.

Red Sox Game at Fenway Park

There’s nothing quite like taking a mouthwatering bite of a hotdog at the first Red Sox game of the summer season. Simply being in the vicinity of Fenway Park during a Red Sox game has a palpable energy you won’t find anywhere else. With so many diehard fans out of town for Memorial Day weekend, you may even be able to score a few tickets below face value. Buy your tickets now for an unforgettable experience at Fenway Park on Saturday, Sunday or Monday.

Visit the Military Heroes Garden of Flags on Boston Common

Once again, the Massachusetts Military Heroes Fund has planted flags on Boston Common to honor the Massachusetts service members who have given their lives to defend the United States since the Civil War. This year, the organization planted 33,000 flags at the Soldiers and Sailors Monument, and they will be on display until 6pm on Monday, May 27^th.

“Boston I Love” at Boston’s Museum of Fine Arts

This weekend presents a great opportunity to tour Boston’s Museum of Fine Arts completely free of charge! From Saturday through Monday you’ll enjoy special exhibitions, art making, gallery tours, family activities, and a community art project. Additionally, all on-site contributions will directly benefit victims of the Boston Marathon bombings through donations to The One Fund Boston.

Shop Memorial Day Sales in Boston

Memorial Day weekend is notorious for having some of the greatest sales of the year. Right now would be the perfect time to pick up some finishing touches for your Boston home if you’ve just moved in or are planning to sell in the near future. Prudential Center, Newbury Street and Copley Place are all top shopping destinations for Boston residents and visitors alike.

There’s so much happening in Boston this Memorial Day weekend! While it’s certainly fun to find new ways to celebrate the unofficial start of summer, I encourage you to visit Boston Common and take a moment to remember the service members who have lost their lives for our country. If you’ve been thinking about buying a home in Boston, this weekend is the perfect time to pay a visit and get a feel for what the city has to offer. Please contact me, your Boston real estate agent, once you arrive. I’d be thrilled to help you find your new home just in time for summer!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Applying Color Theory in Your Boston Home

Whether you’re considering buying a home in Boston and want to add a personal touch to each room or are just looking to give your kitchen a makeover, choosing a color scheme is the most logical place to start. You may have some basic knowledge of how color gives a space a particular mood or energy. For example, yellow is known for making babies cry, blue promotes a soothing and relaxed atmosphere, and orange gives off an energy that encourages conversation and good times. But there’s so much more to consider!

When selecting a color scheme for a particular room in your Boston home, it’s important to think about the purpose of the room and the mood you want to evoke. Most importantly, the space should be livable and feel like home! The easiest way to transform a room is with a fresh coat of paint, but what color should you choose? What color would look best as an accent? Here’s where color theory comes to the rescue, and you don’t have to be a professional interior decorator to experiment.

Remember the color wheel from art class? Complementary colors sit opposite on the color wheel and work well together to build a color scheme for a room. When it comes to selecting your palette, look beyond the obvious primary colors and consider more sophisticated, natural shades like sage green, dark olive and mustard yellow. Analogous colors sit next to one another on the color wheel. When used the right way, selecting analogous colors can create a striking contrast in the interior of your Boston home.

It’s also important to consider how you want to feel and how you want visitors to feel inside your Boston home. Warm colors, such as reds, oranges, and yellows are bright colors that give off a homey appeal. Cool colors, like blues, greens, and purples work best for creating a space where you’ll be relaxing. Warm and cool colors can be mixed if you do so successfully using your new knowledge of complementary and analogous colors.

Now that you have selected a palette (no more than three colors), it’s important to make sure you have the right balance. Interior decorators use the 60-30-10 Rule to pull a room together and give it a cohesive look. Use 60 percent of the dominant color, 30 percent of the secondary color, and just 10 percent of the accent color to ensure the room is balanced. When you look at the finished product, you should feel comfortable with how the space looks and feels. After all, this is your home.

If you feel challenged and can’t quite nail a color palette that works with your taste and preferences, enlist the help of a professional. As a Boston real estate agent, I can recommend some interior decorators in the area who can give you their professional opinions on how to make each room in your home sophisticated and livable. Along the same lines, an interior decorator comes in handy if you’re planning to sell your Boston home and want to make it as appealing as possible to potential buyers. Please reach out if you need any assistance!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Celebrate Mother's Day in Boston!

If you’re lucky, you have a special person in your life to whom you’d like to show your appreciation on Mother’s Day. Whether this individual is your biological mother, adoptive mother, aunt, stepmother, grandmother, or a close friend, there are so many ways to show her you care this weekend. While a card and bouquet of flowers is a nice gesture, consider switching up your traditional Mother’s Day routine in favor of one of these thoughtful ideas sure to make this year’s celebration is truly memorable.

If your mother is visiting Boston from out of town, a dining experience at Top of the Hub is a fantastic way to give her a bird’s eye view of the beautiful skyline. The executive chef and his staff have prepared special Mother’s Day brunch and dinner menus that will be served from 11:00am-2:30pm and 3:30pm-9:00pm, respectively. Both menus include four-course prix-fixe menus that look absolutely delicious. Call Top of the Hub to make a reservation at 617-536-1775.

For a unique view of the city, take your mother on a cruise through the Boston Harbor aboard the Boston Odyssey. Mom will receive a flower on board and the entire family will enjoy themselves at the brunch or dinner buffet. Planned activities will keep the kids busy as adults sip a glass of champagne or a mimosa and listen to a live band set against the Boston skyline. Call Odyssey Cruises to make a reservation at 866-307-2469.

Our hectic lives can sometimes make it difficult to spend quality downtime with our loved ones. Take mom to Newbury Street this weekend for a day of shopping, pampering, and dining. This impressive eight-block promenade is lined with broad sidewalks and countless boutiques, salons, coffee shops and restaurants. Check out the history of Newbury Street before you go for an entirely new perspective on your favorite shopping district.

Celebrate your mother (and all of the animal mothers) at FranklinPark Zoo in Boston this Sunday. In recognition of all that our moms do for us, mothers will receive free admission throughout the day. Everyone will enjoy exploring the wildlife and seeing how resident mothers, such as the western lowland gorilla, Kiki, interact with their babies. Grab lunch at the Giddy-Up Grill and pick up something special for mom at the Things Wild Gift Shop before heading home.

Hopefully this brief Mother’s Day guide gave you a few unique ideas for how to spend your weekend with the special woman in your life. As a Boston real estate agent, I enjoy more than providing buyers and sellers with assistance in navigating the Boston real estate market. It’s my goal to help you explore new areas of Boston and become acquainted with the city that you may one day call “home.” Please feel free to contact me if you have any questions about living in Boston or about the buying or selling processes!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Prepare Your Home for the Boston Real Estate Market

If you have recently decided to sell your Boston home, congratulations! You’re entering a fantastic market for sellers as home prices continue to climb and mortgage rates remain below 3.5% for a 30-year fixed loan. While you’re probably eager to stick a “For Sale” sign in the front yard and get your home listed in the MLS (Multiple Listings Service), there are some things you need to consider and steps you need to take before you’re ready to officially put your home up for sale. Here are my tips for making sure your home is ready for the Boston real estate market.

Determine a budget for updates

Sure, homebuyers may be impressed by a new Jacuzzi tub or a new roof, but it’s not likely you’ll get a big enough return on your investment to make it worth the cost. When preparing your home for the Boston real estate market, my advice is to spend as little money as possible and focus on minor touchups throughout your home that will highlight existing features. As a Boston real estate agent, I’m very familiar with what local homebuyers are looking for. I’d be happy to help you decide what repairs and improvements will grant you the greatest return on your investment.

Clear out the clutter

Personal knickknacks, family photos and stockpiled newspapers and magazines can be distracting as homebuyers walk through your home. To make clearing the clutter out of each room as simple as possible, I suggest you create three piles: Keep, throw away, and donate. Don’t toss everything into a closet, either! Buyers will be peeking in every nook and cranny to see how much storage space is available in your Boston home.

Neutralize the décor

You may like those neon wall colors you chose for the kids’ bedrooms, but that doesn’t necessarily mean potential buyers will feel the same way. When preparing your home for the Boston real estate market, it’s best to try to appeal to a wide range of buyers. I suggest that all of my clients re-decorate statement rooms to follow a more neutral palate. A muted interior design scheme will also prevent buyers from being distracted by your taste in home accessories and help them focus on the floor plan and features.

Make all necessary repairs

Take a walk through your home with the scrutinizing eye of a homebuyer. Does the bedroom door squeak when it’s opened and closed? Does the kitchen sink have a leak? These nuisances are a part of your daily routine and can be easily overlooked as you make routine repairs around your home. Take the time to fix these problems before listing your home on the Boston real estatemarket, or hire a professional to take the tasks off your hands.

Once you have decided to sell your home, please contact me for more tips on how to prepare your home for the Boston real estate market. With thorough planning and preparation, I’m confident your home will receive multiple offers at, or even above, your asking price. I look forward to working with you!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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