Mary (Vigliatura) Stolarczyk
RE/MAX Vision | 508-612-1382 | [email protected]


Posted by Mary (Vigliatura) Stolarczyk on 7/29/2018

Buying your first home is a big endeavor, both financially and personally. Homeownership means taking on new responsibilities and bills, but it also means true financial independence.

If you’re hoping to buy a home in the near future, you might be wondering what you should be doing now to put yourself in the best position when it comes time to buy a home. Well, you’re in luck. Today’s post is a simplified list of all of the things you can be doing today to start making your way toward your ultimate goal of homeownership.

1. Pay off small debts

The first thing you’ll want to do to start saving for a down payment is to make sure you’re not pouring money down the drain to credit card companies for interest rates. If you owe small amounts of money (or less than $1,000), now is the time to aggressively pay down those debts.

The goal here is to get your credit cards to a place where you pay off your balance in full each month, avoiding interest while still earning rewards and building credit.

2. Speaking of credit…

One of the most important aspects of buying a home is your credit score. Take the time to learn about the 5 main things that contribute to your credit score and then work on ways to improve your score in those areas.

3. Don’t open any new accounts if you can help it

Once you start getting closer to applying for a mortgage, you won’t want any new inquiries on your account that are temporarily lowering your score. If you need to open a new account to lift your score, then do so well in advance of applying for a mortgage.

4. Get serious about saving for a down payment

There are a few ways to proactively save for your down payment; none of them include setting money aside when you feel like it. Start by opening a dedicated account and direct-depositing a portion of your pay into that account each week.

If you have an emergency fund in place, you might be in a position to use a CD or certificate of deposit. These give the highest earnings from interest out of any form of savings. The catch? You can’t withdraw from the account until you reach your savings goal without a penalty. If you know you won’t need to dip into these funds before they’ve matured, a CD is an excellent way to save.

5. Find out how much house you can afford

Homes are expensive. but, if it’s your first home, you might need to borrow the maximum amount form the bank to find a house that you’ll love. To find out what is a reasonable amount to spend on a home, you’ll need to consider your monthly mortgage, bills, taxes, insurance, and any other expenses. Leave yourself room for savings, emergencies, and to live a little. You won’t be able to enjoy your home much if you have to spend your days struggling to afford it.

6. Career planning is vital

A good career is a balance between stability and upward mobility. Don’t be afraid to be on the lookout for new positions with higher pay and better opportunities, even if you’re happy with your current job.

If you’ve been in your position for a while, consider asking for a raise. Research salaries for other people in your position and go to your boss equipped with data to show that show you deserve a raise.




Categories: Uncategorized  


Posted by Mary (Vigliatura) Stolarczyk on 7/22/2018

Although being a first-time buyer can seem overwhelming, there was one advantage to the entire process: You didn’t need to sell another property. If you would like to move out of the home that you’re currently living in and are in the process of buying a new place, your life is about the get complicated! Hold tight to your realtor and get ready for quite the ride. 


Since it’s often unrealistic to pay two mortgages at once, there’s a certain way that you must complete the transactions so as not to cause a huge financial headache when moving from one place to another. Unfortunately, you’re going to have to deal with buying a new home and selling your current one simultaneously in most cases.    


The good news is that it can be done! Read on for tips to find out how you can make the process go as smoothly as possible. 


First, you’ll want to understand the housing market that you’re in. You’ll know what strategies you need to employ if you understand the type of market that you’re dealing with. If the two homes are in completely different areas, this research will be even more important to you. 


Buying


While you’re searching for a new home and selling your current one, you’ll want to leave your options open. That means not locking yourself down to just one home. Of course, you’ll only put in one offer at a time, but knowing what’s out there for you to buy is important in case the purchase falls through on the first prospective home. This way you won’t have much chance of being “stranded” once your old home sells. 


Selling


You want your home to be sold in a timely manner. This means that your old home should be well-priced and ready to sell. Work with your realtor on staging, pricing, and holding open houses. The more effort that is put into marketing your home, the better chance you’ll have of selling it. Extra time on the market means that you’ll have a bigger headache when it comes to buying your new home. Selling quickly is not a bad thing so long as you have some other place to live. You can also put a contingency in the sale stating that you need to find suitable housing before you can move. Realtors can do a lot when their sellers are cooperative and proactive.           


Should You Buy First?


If you sell your home first, you’ll have an easier time getting a mortgage on a new home. The problem here is that you’ll need to find some sort of temporary housing before you even head out on the house hunt.


If you buy a home fist, your buying power may be less than if you sold your current home. Your debt-to-income ratio will be higher, giving you less money to spend on a new home.


While buying and selling a home simultaneously can be complicated, if you strategize correctly, you’ll be able to go through the entire process with ease.   

 





Tags: Buying a home  
Categories: Uncategorized  


Posted by Mary (Vigliatura) Stolarczyk on 7/8/2018

Buying a condo may seem like an uphill climb, particularly for those who are browsing the real estate market for the first time. Lucky for you, we're here to help you take the guesswork out of finding the right condo.

What does it take to locate a high-quality condo at an affordable price? Here are three tips that every first-time condo buyer needs to know.

1. Explore a Wide Range of Condos

The real estate market is filled with many first-rate condos, and the sheer volume of properties that are available may feel overwhelming at times. Therefore, you should allocate the necessary time and resources to find a condo that suits you perfectly.

Don't be afraid to check out several condos over the course of a few days or weeks. By doing so, you can better understand what you'd like to find in the ideal condo.

Of course, if you fall in love with a condo, you should be ready to submit an offer. That way, you can avoid the risk of missing out on a great condo that matches or exceeds your expectations.

2. Determine How You'll Pay for a Condo

Many property buyers get pre-approved for a mortgage, and for good reason. With a mortgage in hand, you'll know exactly what you can afford as you review the real estate market.

Meet with a variety of banks and credit unions. These lenders will be able to provide you with multiple mortgage options and respond to your financing concerns and queries.

Also, keep in mind that the price of a condo may extend beyond your monthly mortgage payments.

In many instances, condo communities have homeowners' associations (HOAs) in place that will charge monthly fees. Learn about any HOA fees in advance, and you'll know exactly what you'll need to pay each month to live in a particular condo community.

3. Work with a Real Estate Agent

No one should be forced to evaluate condos on their own. Fortunately, you can hire a real estate agent to streamline the process of finding a terrific condo.

A real estate agent with condo experience understands the hurdles that may arise during a condo search. As such, he or she will do whatever it takes to ensure you can get the best results possible as you look for the perfect condo.

For instance, a real estate agent will set up condo showings and keep you up to date about open houses. This real estate professional will even negotiate with a condo seller on your behalf, which means you won't have to worry about breaking your budget to purchase a stellar condo.

Employing a real estate agent enables you to get expert advice at each stage of the condo buying process too. Thus, you can receive instant responses to your condo buying questions at any time.

Simplify the process of buying your first condo – use the aforementioned tips, and you can boost your chances of acquiring a superb condo at a budget-friendly price.




Tags: condo   buyer tips   Buying a home  
Categories: Uncategorized  


Posted by Mary (Vigliatura) Stolarczyk on 6/24/2018

As you prepare to embark on the homebuying process, you may encounter a variety of homebuying myths. And if you believe these myths, the risk increases that you may be forced to deal with many problems along the homebuying journey.

Now, let's take a look at three common homebuying myths, along with the problems associated with these myths.

1. Buying a house is a quick, stress-free process.

The homebuying process may prove to be long and arduous, particularly for a first-time homebuyer. Fortunately, real estate agents are available to help you simplify the process of acquiring a top-notch residence at a budget-friendly price.

A real estate agent understands the challenges associated with buying a house. As such, he or she can help you identify and address these problems before they escalate.

Typically, a real estate agent will learn about what you want to find in your dream house and help you plan accordingly. With this approach, a real estate agent will ensure that you can enjoy a fast, worry-free homebuying experience.

2. Getting a mortgage won't take long at all.

There are many factors that will dictate your ability to acquire a mortgage that matches or exceeds your expectations. For instance, your credit score, income and outstanding debt will impact a lender's decision to provide you with a mortgage. And if you have experienced financial problems in the past, they may impact your ability to acquire a mortgage today.

It generally helps to get pre-approved for a mortgage before you enter the housing market. Because if you have a mortgage in hand, you can narrow your house search.

Also, it may be beneficial to shop around for a mortgage from several banks and credit unions. If you explore all of the mortgage options at your disposal, you can select a mortgage that suits your finances perfectly.

3. The first home that you see in-person likely will be the house that you'll end up purchasing.

The homebuying process offers no guarantees. And if you expect to buy the first home that you view in-person, you ultimately may be disappointed with the final results of your home search.

Oftentimes, it is a great idea to check out a wide range of houses. By conducting an in-depth home search, you can select a house that fulfills all of your homebuying demands.

As you search for a home, you may want to work with a real estate agent too. This housing market professional can set up home showings and keep you up to date about open house events.

Furthermore, a real estate agent is happy to provide homebuying recommendations and suggestions. He or she will do whatever it takes to help you find a terrific residence, as well as negotiate with a seller's agent on your behalf to ensure you won't have to pay too much to acquire your ideal house.

The aforementioned myths can be harmful to any homebuyer, at any time. If you hire a real estate agent, however, you can learn the ins and outs of the housing market and avoid potential hurdles throughout the homebuying journey.




Categories: Uncategorized  


Posted by Mary (Vigliatura) Stolarczyk on 4/1/2018

The ultimate goal of a home search is to find a residence that matches or exceeds your expectations. To enjoy a rewarding homebuying experience, you need to prepare accordingly.

Now, let's take a look at three tips to help you reap the benefits of a successful homebuying experience.

1. Narrow Your House Search

Think about where you want to live. By doing so, you can refine your home search and look for houses in your preferred cities and towns.

Also, creating a list of homebuying criteria usually is a good idea. This list can include home must-haves and wants, and ultimately, will help you further narrow your house search.

2. Get Pre-Approved for a Mortgage

Purchasing a house can be simple, particularly for those who get pre-approved for a mortgage. With a mortgage in hand, you can enter the real estate market with a budget. Then, you can pursue houses that fall within your price range and speed up your search for your dream home.

To get pre-approved for a mortgage, it is important to review all of the mortgage options at your disposal. Meet with banks and credit unions and discuss various mortgage options. This will allow you to learn about the differences between adjustable- and fixed-rate mortgages and find a mortgage that corresponds to your finances.

In addition, don't hesitate to ask mortgage questions when you meet with banks and credit unions. Lenders employ friendly, knowledgeable mortgage specialists, and these professionals will do everything possible to help you make an informed mortgage decision.

3. Work with a Real Estate Agent

A rewarding homebuying experience may be tough to achieve if you decide to pursue a house on your own. Thankfully, real estate agents are available who can provide plenty of guidance along the homebuying journey and ensure you can accomplish your desired results.

If you work with a real estate agent, you can take the guesswork out of purchasing a house. First, a real estate agent will meet with you and learn about you and your homebuying goals. This housing market professional then will craft a homebuying strategy to help you achieve the best-possible results as quickly as possible.

In addition, a real estate agent will keep you up to date about open house events, set up home showings and help you analyze the housing market. If you discover your dream house, a real estate agent will help you put together a competitive offer to purchase this home. Plus, if you have concerns or questions at any point during the homebuying journey, a real estate agent can respond to them.

When it comes to simplifying the homebuying experience, hiring a real estate agent is essential. Because if you have a top-notch real estate agent at your side, you can get the help you need to seamlessly navigate the homebuying journey.

Ready to find your dream house? Use the aforementioned tips, and you can enjoy a rewarding homebuying experience.




Categories: Uncategorized