Robert Ross - Realty Executives Boston West, Framingham, MA Real Estate, Natick, MA Real Estate


The biggest area of your life that you need to understand before you buy a house is your own finances. Before you know what kind of house you can buy, you’ll need to understand your own buying power. While things like square footage, how many bedrooms you need, and finding the right neighborhood are important, you can’t go very far without some type of financing. While understanding how much you can spend on a property is one of the more serious parts of buying a home, it’s something that you’ll want to do. Knowing what you can spend on a home is a step to helping you land a home you love. If you understand your own numbers, you’ll know the chances that you have of an offer being accepted on a place you love.  


The Elements Of Your Buying Power


Your Credit Score


This little three digit number has a lot of meaning behind it. This is the most basic piece of information that lenders use to determine your loan worthiness. The factors that influence your credit score include:


  • Payment history
  • How much you owe
  • Length of your credit history
  • Mix of credit accounts
  • How much new credit you have opened


A low credit score is somewhere under 620. Having a score this low doesn't necessarily mean that you’ll be denied for a loan, but the type and amount of the loan you’re offered can be impacted. You’ll also face higher interest rates because of a low credit score. This means your mortgage could be considerably more expensive than if you had a higher credit score. 


Down Payment


The 20 percent down as a rule of thumb actually offers many benefits to your buying power. This means that you’ll need 20% down of the purchase price of the home in cash. If you put this amount of money (or even more) down on a home, it eliminates the need for you to have to buy PMI (Private Mortgage Insurance). You’ll even be able to negotiate a lower interest rate. A large down payment may be especially helpful in competitive markets where there is a lot of buyer competition.


How Your Financial Picture Appears


Your assets and your debt-to-income ratio are also important factors in your financial picture that you present to the lender. Basically, all of these numbers let both the lender and the seller see how committed you are to buying a home. It is one of the biggest financial undertakings of your entire life. If you can’t show financial responsibility, then it may be a bit difficult for lenders to see that you’ll actually pay your loan back in a timely manner.


The better all of your financial numbers are, the more buying power that you’ll have. If your numbers are good, you’ll be able to afford more house. While it may not be the most exciting thing to look over all of your financial numbers, it’s a vital step in the process of your journey to home ownership.



14 Webster Street, Framingham, MA 01702

Multi-Family

$599,900
Price

2
Units
2,515
Approx. GLA
Outstanding opportunity with this well maintained 2 family in convenient downtown location! Solid & well built w/high ceilings throughout both units! Lots of living space! Separate utilities Many updates to building including updated kitchens with maple cabinets with granite counters, stainless steel appliances, newer bath on 3rd floor and updated baths on the other two, replacement windows. young roof, Both units in good condition Second and third floor combine for a spacious 4 bedroom unit with baths on both floors.1st floor unit is a clean unit. Hardwoods throughout the house, Good size living and dining rooms. Ample storage and big back yard. Laundry in basement, fully rented, Close to commuter routes, Trains, hospitals, stores, and parks. Plenty of off street parking. Don't let lack of photos dissuade you...bad timing....xmas decorations everywhere.
Open House
No scheduled Open Houses

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This Single-Family in Stow, MA recently sold for $470,000. This Raised Ranch style home was sold by Robert Ross - REALTY EXECUTIVES Boston West.


422 Taylor Road, Stow, MA 01775

Single-Family

$469,900
Price
$470,000
Sale Price

5
Rooms
3
Beds
2
Baths
Exceptionally maintained 3 bedroom with potential 4th bedroom, 2 full bath move-in ready home nestled in the heart of Stow. First floor open concept cathedral ceiling. The custom windows and 4 skylights give th living and dining room a ton of natural light. An updated kitchen. The trees and full house fan keep the house cool in summer and 2 fireplaces provide warmth in winter. The 3 season room flows out to your large composite deck overlooking your beautiful backyard oasis. The bottom floor offers many options for the needs and desires of owner. Currently it serves as a guest room, office, laundry/furnace room, workroom and exit to outdoor shed. Additional updates include, fully renovated bathroom with heated Italian tile floor, 4 bedroom septic (2004) , a new Garage (2016), New Furnace (2011), New Roof( 2006), New Electric (2010), New Deck(2010) and more. Close to South Acton Train Station, Rt. 2 and shopping. DON'T MISS THIS OPPORTUNITY




"Motivation" could be defined as a positive energy that is applied to the achievement of a desired goal.

You may be wondering whether you, as a home seller, need to be motivated. The short answer is: "Yes! Your attitude and energy level can potentially make a huge difference in the sale of your home!"

In rare instances, the right buyer may show up at just the right time, without much effort on your part. However, when it comes to getting the best price for your house and selling it within the shortest period of time, you don't want to leave things to chance! The stakes are too high and the window of opportunity is too brief to depend on luck. Although there are several variables that are beyond your control -- such as market conditions, location, and time of year -- there are plenty of things you can do to increase the probability of a fast sale.

Choose a proactive real estate agent: The encouraging news is that there are many full-time real estate agents who are personable, focused, and results oriented. They know their business and they recognize the value of positive client relationships. However, all real estate agents are not created equal. Unless you're hiring a real estate agent based on a rock-solid recommendation from a trusted friend or relative, it's always best to interview at least two agents before making your final decision.

The real estate agent you ultimately work with will have a direct impact on many aspects of your home-selling experience, so it pays to choose carefully. Although a good rapport does go a long way toward a successful working relationship with an agent, it's vital to find one who's experienced, knowledgeable, and successful. Success is important because if they don't have a proven record of selling houses in your area -- especially ones in your price range -- then how can you be sure they'll market your home effectively?

Always put your best foot forward: One crucial thing house sellers do have control over is making a good impression. You rarely get a second chance to make a great first impression, so it's well worth your while to prioritize things like curb appeal, cleanliness, and home staging.

If there's anything about the appearance or functionality of your home that concerns you, you can be sure prospective buyers are also going to notice it. An experienced real estate agent will have a good sense of effective home staging, what might put off buyers, and how you can cost-effectively remedy problems.

Half the battle usually involves thoroughly cleaning your house, applying a fresh coat of neutral-colored paint where needed, and getting rid of clutter in and around all surfaces, including floors, countertops, walls, and storage areas. Although every situation is different, when it comes to furniture arrangement and room décor, "less is (usually) more!"



84 Central St, Framingham, MA 01701

Rental

$1,600
Price

3
Rooms
1
Beds
1
Baths
Cozy guest house in prime area! Private one bedroom cottage gives you the taste of single family living. Cute little detached 1 bed 1 bath apartment in the Saxonville area. Quiet little space well off Central St. Recently... updated with new kitchen with granite counters and new appliances, upgraded bath as well as numerous other more minor upgrades throughout. Washer and Dryer ....Only ONE PARKING SPACE and that can't be changed..... Very convenient to everything. 10 minutes to the Pike and T station. One year lease, No pets, No smoking, Verifiable income a must.
Open House
No scheduled Open Houses

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