Are you trying to decide between building a new home or updating an older home? Do your research and determine your costs for each project, in time and money, before signing on the dotted line.
Pay attention to the age-old adage, “Location, location, location.” Take advantage of the lower real estate prices and buy a home in the best area you can afford.
When calculating the costs of ownership, remember to factor in the monthly mortgage payment, utilities, property taxes, repairs, homeowner’s association fees (if any), and home maintenance work.
Be sure to ask questions and do your research for the best mortgage rate. Ask your mortgage banker to break down what you will pay and evaluate different loan structures. Points, PMI (private mortgage insurance) and closing costs will increase your mortgage cost.
Ned Mahoney has been in real estate in the Greater Boston area for over 25 years. He’s continually recognized as one of the leading realtors in New England and has won many awards for his top performing sales record. Ned offers integrity, professionalism, and solid strategies to provide his clients with excellent real estate services. Ned is with Keller Williams Realty. Please visit Ned’s innovative website at www.nedmahoney.com