Joseph Federico - Donahue Real Estate Company | Dedham, MA Real Estate, Canton, MA Real Estate


Finding the house of your dreams is a process that requires a lot of clarity, diligence, and patience. While it is possible for the first house you look at to be the ideal choice, it's a lot more likely you'll have to look at a dozen or more houses before finding the one that matches your requirements and feels like home.

Whether you're searching for your first home or your tenth, your decision will primarily be based on four factors: affordability, practicality, emotional appeal, and prevailing market conditions.

Affordability is a vital element in the mix because it's difficult to enjoy a beautiful new home if you're always stressed out about whether you'll be able to make the next mortgage payment! Developing a realistic and well thought-out budget is one of the first preliminary steps involved in launching a full-fledged search for your next home. In addition to being able to cover your current expenses and the cost of mortgage payments, you'll also want to ensure that there's a cushion in your budget for things like home maintenance, repairs, improvements, HOA fees (if applicable), property taxes, school taxes, and homeowner's insurance.

As far as practicality goes, your new home should -- at the very least -- live up to your basic needs and expectations. Ideally, all systems should work properly and be in good condition. Proximity to key locations, such as your job, shopping, and essential services can also have a direct impact on your quality of life. Long commutes, cramped quarters, or being buried by an avalanche of repair bills can definitely take some of the pleasure out of home ownership!

The majority of houses you'll look at will probably need some degree of updating, decorating, or repairs, but ideally, you'll want to tackle those projects over the next couple of years, rather than the immediate future! Having an experienced home inspector do a thorough inspection of the home you're interested in will help ensure you're not buying a home riddled with flaws, headaches waiting to happen, and other problems.

Although cost and practicality are vital aspects of buying a new home, you can't (and wouldn't want to) ignore factors such as aesthetics and emotional appeal. If you can't imagine you and your family living in and enjoying a house you're considering buying, it might be time to continue your search elsewhere! The house you ultimately choose should support your lifestyle, provide sufficient space for your family to grow and thrive, and be situated in a neighborhood in which you feel comfortable and safe.

To make the most of your available time and money, find an experienced real estate agent who's responsive to your needs and knowledgeable about the local real estate market. They will help you streamline your search, find houses that meet your criteria and negotiate the best possible price on your behalf.


Image by Steve Heap from Shutterstock

If you love vacationing at the same place every year you may consider investing in a timeshare property. This can often help control vacation costs and planning time. However, owning a timeshare home may not be not the right choice for everyone. It is important to understand that a timeshare is not like other real estate because you do not own the property yourself. Carefully consider what that means before signing a timeshare contract.

Should You Invest in a Timeshare?

Timeshare properties are homes that are co-owned. Similar to condominiums, the units usually have several rooms that allow more than one family to share the space at the same time. Each owner has the right to use the home for scheduled periods each year. If you are considering a timeshare investment, here are the advantages and disadvantages associated with owning such property. 

Advantages

  • You have a vacation home every year: If you own a timeshare property, you save some vacation planning time each year. You won’t have to deal with booking hotel arrangements or spend time determining a destination.

  • Scheduled time: If you vacation during the same timeframe every year, this is a great option because you won’t have to worry about having good accommodations available to you when you want to use them.

  • Cost-efficient: When you calculate how much you spend on hotel bookings whenever you go on vacation, you may realize it is more cost-efficient to buy a timeshare property. 

Disadvantages

  • Your vacation is restricted: Owning a timeshare property makes it difficult for you to vacation whenever and wherever you’d like. If you like to visit new destinations or vary your vacation weeks each year, a timeshare may not be the best fit. 

  • Additional expense: If you opt to exchange the timing or destination of your timeshare stay, you may meet with considerable fees during the process. You may also be billed for routine maintenance, utilities, taxes, and other fees related to the timeshare complex itself. 

  • Difficult to sell: It is often difficult to sell a timeshare if you decide you do not want it anymore. You might end up selling at a loss as timeshare value tends to depreciate over time.

Before investing in a timeshare home, weigh your cons against your pros to determine if it is the right decision for you. You might find it just as cost-effective to purchase a vacation home in your favorite location that you own outright. In some cases, you could even rent it out to other vacationers when you’re not using it to help pay for the mortgage. Contact your real estate agent for professional advice on buying the right vacation home for your situation.


Walpole MA 02081 - 2019 market in review! 

According to the MLS (multiple listing service), 210 single family homes sold in Walpole last year. Average sale price $599,280 

For context:
2018 had 208 single family sales, average sale price $598,233
In 2017, 213 sales, average price $553,098

If you are interested in the whole report for 2019 (average days on market, price changes, original list price to sale price, etc.), for Walpole or another town, for single families, condos, or multi-families - I can customize and email it to you. Let me know below or send me a message.

Let's hope the market holds strong for 2020!

Joseph D. Federico

Donahue Real Estate Co. 

Dedham-Canton-Walpole

5 Lincoln Street, Canton

"Neighbors Helping Neighbors"

www.Joefed.com

joe@donahuere.com


Westwood, MA 02090 - 2019 market in review! 

According to the MLS (multiple listing service), 171 single family homes sold in Westwood last year. Average sale price $902,133.

For context:
2018 had 179 single family sales, average sale price $926,645
In 2017, 180 sales, average price $896,656

If you are interested in the whole report for 2019 (average days on market, price changes, original list price to sale price, etc.), for Westwood or another town, for single families, condos, or multi-families - I can customize and email it to you. Let me know below or send me a message.

Let's hope the market holds strong for 2020!


Joseph D. Federico

Donahue Real Estate Co. 

Dedham-Canton-Walpole

5 Lincoln Street, Canton

"Neighbors Helping Neighbors"

www.Joefed.com

joe@donahuere.com


Canton, MA 02021 - 2019 market in review! 

According to the MLS (multiple listing service), 187 single family homes sold in Canton last year. Average sale price $624,297

For context:
2018 had 212 single family sales, average sale price $594,154. 
In 2017, 205 sales, average price $640,382

If you are interested in the whole report for 2019 (average days on market, price changes, original list price to sale price, etc.), for Canton or another town, for single families, condos, or multi-families - I can customize and email it to you. Let me know below or send me a message.

Let's hope the market holds strong for 2020!


Joseph D. Federico

Donahue Real Estate Co. 

Dedham-Canton-Walpole

5 Lincoln Street, Canton

"Neighbors Helping Neighbors"

www.Joefed.com

joe@donahuere.com




Loading