The Varano Realty Group - Needham MA Real Estate


Posted by Adriano Varano on 7/31/2017

House title search fees, mortgage application fees, mortgage insurance, homeowners insurance, property taxes and homeowners association fees are only a part of the cost of owning a house. There is also the mortgage principal, home appraisal fee, closing costs, home inspection fees and mortgage interest to pay after you buy a house. Facing all of these and other costs takes thought.

Three simple steps to home ownership and lower mortgage payments

By preparing to buy and maintain a house, you could save big over the short and the long term. Get creative and you will see that there are many ways to save for your home. Three simple ways that you can save for your home are to:

  • Open a home savings account. Do this at least two years before you buy a house. Set up an automatic deposit so that money goes into the account each time you receive your payroll check.
  • Use money from your bonus check or tax return to invest in your house down payment. Start doing this early, as soon as you graduate from high school, and you could save several thousand if not tens of thousands of dollars.
  • Work a second job or freelance. Invest all of the earnings from this work into your home savings account. You could sharpen your talents by using these abilities to generate income. For example, if you have design skills, you could start your own web design or marketing design company and use earnings from sales to build a down payment on a house.

Splitting the down payment with another adult you buy a house with is another way to make smart house buys. Hold yourself and other adults who will be living in the house responsible for making their portion of the monthly mortgage. Split house maintenance costs as well.

Get serious about saving money to buy your first house

As soon as you decide to buy a house, start taking steps to save for your home. For example, if you know that you want to buy a house two years after you graduate from college, start saving for a down payment while you're still in college or as soon as you graduate.

Learn how to build and manage a budget. Depending on how disciplined you are, you might benefit from working with a line item budget. If you live at home, slowly work your way up to saving enough each month to cover the mortgage on the type of house you want to buy.

Do this for two years and you could save a healthy down payment on a house. Focus on what it takes to get your monthly mortgage payments down to where they only require 25% or less of your total net income and you be financially comfortable throughout the home buy and maintenance process.

You might even have enough money to add one or more rooms onto your house, increasing the total value of your property. This single step could position you to yield a profit should you decide to sell your house.




Tags: home   homeowner  
Categories: Uncategorized  


Posted by Adriano Varano on 5/22/2017

People often describe themselves as either a "city person" or "country folk" depending on their taste when it comes to where they like to spend their time. Usually, what they really mean is that they prefer either the busy or the quiet life. However, there's a lot more to choosing the best place to live besides just the number of neighbors you'll have. If you're trying to decide whether you want to buy a home in the city, live out in the country, or move to the suburbs where you get a little bit of each, this article will tell you everything you need to know to make the right choice.

Life in the city

If you grew up in a small town, odds are you always dreamed of someday living in the city. The busy streets, the tall buildings, and public transportation that you can take anywhere all make city life feel like one giant amusement park if you grew up in the country. However, there's a lot more to city life than just the bustling atmosphere.
  • Amenities. One of the main benefits of living in the city is easy access to most of the necessities of life. Depending on your location in the city you might be surrounded by hospitals, schools and grocery stores.
  • Entertainment. You'll never run out of things to do or new places to explore living in a big city.
  • Community and culture. In most large cities you'll find great diversity of cultures and values. If you're looking for a place you can identify with, odds are you'll find a community you can fit into within the city.
  • Cost of living. This varies between cities and states, but generally the cost of living goes up in the big cities with higher rent prices, more expensive groceries and dining options.
  • Traffic. You have to love being around other people if you live in a big city. Whether you're on the train or at the crosswalk, you'll always be within arms length of a group of strangers.

Country living

  • Privacy and sovereignty. If you like your alone time and the freedom to do what you want with the space you have, country life might be for you.
  • Peace and quiet. If you hate traffic jams and don't mind driving long distances to reach amenities, small town living could be a good fit.
  • Nature and space. Out in the country there's plenty of room to roam and to experience the local flora and fauna.

Suburban life

Life in the suburbs is meant to have the best features of the city and the country. Hopefully your town has a couple grocery stores and easy access to the highway to reach the nearest city. It will also have access to recreation parks. One downfall of suburban life is that you need to make the extra effort if you want to build the sense of community provided in the city or the connection to nature that comes with living out in the country. However, if you are the type to actively seek these out, suburban life could be the happy medium your life needs.




Tags: city   country   home   home living   life   living   suburbs  
Categories: Uncategorized