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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Spring Real Estate Market in Boston

Warmer weather will soon be on the way and spring is just around the corner. Spring is well-known as one of the busiest times in the Boston, MA real estate market. If you are you planning to buy a home in Boston, MA this spring, you are not alone. Over the next month or two, the Boston home inventory will soar and you'll have a whole new crop of homes to consider. If you’re a first-time homebuyer or if it’s been a while since you’ve gone through the home buying process, it’s important to know that there are a few items you should start thinking about right away. Here are three tips to ensure you are ready to jump into the spring Boston real estate market.

Get pre-approved for a mortgage. In a competitive real estate market, home sellers favor buyers who have been pre-approved for a mortgage. Though the terms are commonly used interchangeably, pre-approval differs from pre-qualification in that pre-approval includes having your financial information run through the underwriting process. This will give you a pretty accurate picture of how much you can expect to borrow from your lender and therefore how much home you can afford.

Be prepared with a down payment. It’s generally recommended to put 20 percent down when you buy a home. However, this amount can vary depending on the type of mortgage you’ll be applying for. For those seeking a traditional mortgage, it’s important to note that you’ll have to pay for private mortgage insurance (PMI) if you don’t come up with a 20 percent down payment.

Choose the right Realtor. Unless you’re a seasoned pro, having a Realtor on your side can make a big difference. Making an offer on a house in a competitive market can require more than just a willingness to pay the price. If a seller must choose between multiple buyers, they’re likely to choose the one that’s coming to them with the best overall package. A good Boston real estate agent will present your offer along with other information, including your ability to get a loan, your down payment, and anything else that might make you more appealing than someone else vying for the same property.

Buying a home in Boston, MA is one of the most exciting milestones you’ll reach during your lifetime. Before you start scouring the Internet in search of your new pad, be sure to keep in mind the three important items above. And when you are ready please contact a Boston, MA real estate agent. I hope to speak with you soon!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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How to Navigate Boston’s Seller’s Market

Boston is experiencing a great boom in real estate values. The Boston housing market forecast for the 3 years ending with the 3rd Quarter of 2021 is also positive. The accuracy of the Boston housing market trend prediction is 78%. Accordingly, LittleBigHomes.com estimates that the probability for rising home prices in Boston, MA is 78% during this period. If this Housing Market Forecast is correct, home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018. Buying into the Boston real estate market makes good financial sense for a future return on your investment. Like most of the country, Boston is experiencing a seller’s market. A seller’s market means there is more demand than supply and low levels of inventory.  What can a potential home buyer do to prepare for buying in a seller’s market?

·         Do the research. Scour real-estate websites and pump agents for data. Know what has sold for what price.

·         Pre-interview local contractors. To accept an as-is house, you need to ballpark how much repairs will cost.

·         Get preapproved. If you don’t have cash, show the seller that financing is guaranteed.

·         Act fast. Check for new listings daily and call the listing agent immediately.

·         Waive contingencies. It is scary, but sometimes necessary.

·         Write the seller a letter explaining why you love the house

And above all, make sure you are working with a qualified professional! A Boston Real Estate agent who has the experience to help you compose the perfect offer to get that Boston home of your dreams! Please contact a Boston Real Estate agent when you are ready, I cannot wait to earn your business!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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