Lucas Boston Homes: March 2020

Wednesday, March 11, 2020

Spring Renovations for your Boston Home

It's hard to believe it, but SPRING is just around the corner! There is no better time to focus on home renovation than springtime. The weather is (hopefully) milder in spring so renovation doesn't seem so daunting. Many of us also have tax refunds that we can put to good use and invest back into our homes. Springtime may be your best bet for home renovation in your Boston, MA home.

Payback for home renovation projects are finally back on the rise again after nearly a decade of decline. Remodeling Magazine has recently released its annual Cost vs. Value Report. Here are the best five renovation projects for Boston, MA based on the payback at the closing table.

Garage Door Replacement: Investment: $3732 | Resale Value: $3715

Vinyl Siding Replacement: Investment $15,115 | Resale Value: $11,575

Window Replacement, Wood: Investment: $21,760 | Resale Value: $16,415

Minor Kitchen Remodel: Investment: $23,452 | Resale Value: $17,884

Window Replacement, Vinyl: Investment: $17,925 | Resale Value: $13,018

I hope you are able to invest into your Boston, MA home with one of these projects. When it comes time to sell your Boston Home and buy new please look for a professional, someone well-versed in all aspects of the sale process. From strategic marketing, and negotiation, a qualified professional is a home seller's best asset. Your satisfaction is the key to my success. Don't sell your home without the help of an experienced agent. Contact a Boston real estate agent when you are ready. I look forward to hearing from you!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Wednesday, March 4, 2020

Your Boston, MA Mortgage

Landing a mortgage loan opens the door to home ownership in Boston, MA, but it’s no longer as easy as it once was. While there are numerous new mortgage-lending regulations to protect you, there are many newer rules to protect lenders from defaults by borrowers too. If you want to buy a home today without overpaying for a mortgage loan, you’ll need mortgage market savvy, a serious job, excellent credit, sufficient liquid assets, and limited debt.

While any mistake can kill the deal, here are the top mortgage mistakes:

Flying blind. Learn the mortgage market before jumping in. Luckily, reliable mortgage information is at your fingertips. Seek out independent, reliable sources to learn about the different types of mortgages and the risks and costs associated with each.

Waiting for the bottom. If you are waiting for interest rates to hit bottom, you’ll never move until rates start to rise. The bottom of any market can only be seen in hindsight. Buy a home because it’s cheaper than renting, you are financially prepared for homeownership, and the move fits your lifestyle plans.

Not checking your credit. If you wait until you apply for a mortgage and let the lender check your credit, it may be too late. Credit report errors happen and only you can correct things that deflate your credit score. AnnualCreditReport.com is the only federal government approved way to get your report for free.

Failing to shop around. Today’s mortgage market is online and offline, through banks, mortgage lenders, mortgage brokers, credit unions, local, state, and federal mortgage programs, seller financing, and other sources. Check them all.

Shopping with empty pockets. Get pre-qualified for a mortgage. That gives you home price-shopping parameters, negotiating strength, and credibility as a serious buyer.

Not locking down the rate. Even with pre-qualification, rising rates could price you out of the mortgage. With Mortgage Match, you can lock in your rate the moment your application for a loan is approved.

Buying over your head. Check your budget, a budget lets you know where your money goes, where you can cut costs and what you can afford to pay for a home, including the mortgage, property taxes, insurance, and monthly maintenance and utilities. Borrow what you can truly afford, not what the lender is willing to lend.

Wimping out. Buying a home takes guts. Be aggressive. Follow the above advice, get in touch with a local Boston, MA realtor and you’ll know where you can get tough and where you can give. Without the guidance of a local expert, it can be tricky to cover all the city's vibrant neighborhoods! As a Boston real estate agent my services extend beyond helping buyers and sellers through their transactions. I thoroughly enjoy getting prospective residents familiar with their surroundings and exposing them to the best of everything Boston, MA has to offer. I hope to speak with you soon!