Lynne Eliopoulos
ERA Key Realty Services | 508-832-1032 | [email protected]


Posted by Lynne Eliopoulos on 10/18/2020

You want to buy a house, but you know that you need to save as much money as possible for a down payment. Although you've tried to save money in the past, your best efforts have failed to help you collect the funds that you'll need to make a down payment on your dream residence.

Let's face it – saving for a home can be difficult. Fortunately, we're here to offer creative ways to help you get the money that you'll need to make your homeownership dream come true.

Now, let's take a look at three creative ways to save for a down payment on a house.

1. Start a Friendly Competition

Competition often brings out the best in homebuyers. Much in the same vein, you and your friends may be able to compete against one another to see who can save the most money for a down payment on a home.

If you and your friends intend to buy a home together or separately, a friendly competition can make a world of difference in getting the required funds for a down payment. In fact, you can even award the winner of this competition with an "Ultimate Saver" trophy or other fun prizes.

Ultimately, a friendly competition is a great way to have fun with friends and save money for a down payment on a house at the same time. Regardless of who wins the competition, you'll notice that your down payment savings will increase, moving you one step closer to acquiring your ideal residence.

2. Use a Rewards System

Saving for a down payment on a home may seem like a long, arduous process. However, if you build rewards into your day-to-day savings efforts, you can earn incentives as you reach various milestones.

For instance, you may want to reward yourself with a special dinner every time that you reach a savings milestone. Or, you can always celebrate hitting a savings milestone with a trip to the dog park with your puppy.

3. Trim the Fat from Your Budget

It sometimes can be tough to remove cable TV, takeout meals and other excess items from your budget. But if you consider the long-term benefits of these short-term sacrifices, you may be better equipped than ever before to save significant funds for a down payment on a home.

Look closely at your daily, weekly and monthly budgets. Then, you can determine which budget items are essential and which are not and trim the fat from your budget accordingly. This will allow you to speed up the process of saving for a down payment on a house and ensure that you can achieve your homeownership dream faster than ever before.

Lastly, as you prepare to explore available homes, don't hesitate to reach out to a real estate agent for extra help. By hiring a real estate agent, you can get the assistance that you need to discover a great house that falls within your price range.





Posted by Lynne Eliopoulos on 9/6/2020

Want to buy a house? If you plan ahead for the homebuying journey, you may be better equipped than ever before to reap the benefits of a seamless homebuying experience.

Now, let's take a look at three tips to help you prepare for the homebuying journey.

1. Figure Out Where You Want to Live

Do you prefer the hustle and bustle of the big city? Or, would you like to reside in a small town? Think about where you want to live, and you may be able to speed up the homebuying journey.

A homebuyer who narrows his or her search to houses in a set number of cities and towns may be able to quickly discover the ideal residence. Thus, if you know where you want to go, you can act fast to pursue your dream house. And once you find your dream home, it may be only a few weeks before you can finalize a home sale.

2. Obtain a Mortgage

A mortgage generally is a must-have for a homebuyer, regardless of where he or she decides to live. If you submit a mortgage application before you embark on the homebuying journey, you can enter the real estate market with a budget in hand.

Oftentimes, it won't take long to get pre-approved for a mortgage. You can meet with a variety of banks and credit unions, and these financial institutions can teach you about a wide array of mortgage options. Next, you can select a mortgage that satisfies your personal requirements.

When you meet with banks and credit unions, don't hesitate to ask plenty of questions, either. If you receive expert mortgage insights, you can make an informed mortgage decision that likely will serve you well for years to come.

3. Consult with a Real Estate Agent

Let's face it – pursuing a home should be a quick, easy process, but problems may arise that prevent you from buying your ideal residence. Thankfully, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you make your homeownership dreams come true.

A real estate agent is a housing market expert who can teach you how to discover a terrific house at a budget-friendly price. This housing market professional can explain the differences between a buyer's and seller's market and help you map out a successful homebuying journey. That way, you may be able to improve your chances of acquiring a superb residence if you hire a reliable real estate agent.

In addition, a real estate agent will serve as your guide along the homebuying journey. He or she will keep you up to date about new residences that become available, set up home showings and help you submit homebuying proposals. And if you ever have homebuying concerns or questions, a real estate agent is available to respond to them.

Achieve the best-possible results during the homebuying journey – use the aforementioned tips, and you can plan ahead to acquire your ideal residence.




Categories: Buying a Home   buying tips  


Posted by Lynne Eliopoulos on 8/30/2020

If you plan to conduct a house search, there is no reason to settle for inferior results. Instead, you should dedicate the necessary time and resources to conduct a comprehensive search for your dream house.

Ultimately, there are many reasons why it pays to perform an in-depth home search. These include:

1. You can avoid the risk of buying a subpar house.

As a homebuyer, it is paramount to discover a residence that meets or exceeds your expectations. Because if you purchase a house that falls short of your expectations, you may suffer the consequences of your decision for years to come.

For example, if you want to acquire a home quickly, you may be tempted to submit an offer to purchase the first house you view in-person. You might even choose to ignore house problems that are discovered during an inspection.

In the aforementioned scenario, you may wind up purchasing a home that will require costly, time-intensive repairs in the foreseeable future. Perhaps worst of all, you may struggle to generate equal value for your residence if you decide to re-sell it at a later date.

2. You can boost the likelihood of finding a house that matches your budget.

If you have a limited homebuying budget at your disposal, there is no need to leave any stone unturned in your quest for your ideal residence.

By dedicating time and resources to conduct an extensive house search, you'll be better equipped than other buyers to find a first-rate residence at a budget-friendly price. Plus, you may be able to pounce at the opportunity to buy a home that matches your budget as soon as this residence becomes available.

3. You may be able to capitalize on a buyer's market.

A patient homebuyer may be able to wait out a seller's market, i.e. a real estate market that features an abundance of buyers and a shortage of sellers. And in this situation, a buyer could capitalize on a buyer's market, i.e. a real estate market that boasts an abundance of sellers and a shortage of buyers. As a result, this buyer could choose from a wide selection of top-notch residences in a buyer's market and select a residence that offers a great combination of affordability and quality.

If you plan to pursue a home soon, you may want to hire a real estate agent. Because if you have a real estate agent at your side, you can receive plenty of support throughout the property buying journey.

A real estate agent understands what it takes to conduct a thorough home search. He or she will keep you up to date about new houses that become available in your preferred cities and towns and offer expert homebuying recommendations. Also, if you want to submit an offer to purchase a home, a real estate agent will help you put together a competitive homebuying proposal.

Simplify the homebuying process – work with a real estate agent, and you can streamline your house search.





Posted by Lynne Eliopoulos on 8/16/2020

There’s a lot of things to think about before buying a home--some financial, others personal. Most people tend to focus on one or the other. However, both are instrumental in choosing the right house and buying at the right time.

In this article, we’re going to talk about some of the ways you can determine if you’re ready for homeownership. We’ll discuss things like credit scores and down payments, but also important life factors like your career and future plans.

Getting your finances in order

There are a few simple things you can do right now that will help you understand if you’re financially secure enough to start looking at houses. First, you’ll want to look up your credit score.

Lenders strongly consider your credit when determining how much risk is involved in lending to you. A higher credit score can not only get you approved for a mortgage, it can lower your interest rate and make you eligible to borrow without having to pay private mortgage insurance.

The amount of money this saves seems trivial in the short term, but over the lifespan of your loan it can save you tens of thousands of dollars. So, read a free credit report and if your credit is lower than 700 start finding ways to improve your credit.

In the meantime, you’ll want to save for a down payment. While it’s possible to buy a home with a small or no down payment, it can come back to haunt you in the form of interest as you pay off your loan. Furthermore, many lenders won’t pre-approve you unless you make a down payment of a minimum amount (often 20% of the loan).

If you have a high credit score and you’ve saved for a down payment, another thing to check off your list would be proving your stable income. This can be difficult for the self-employed, contract workers, or people who have recently changed jobs.

Lenders want to see that you have a stable income history to ensure that you’ll be able to pay your mortgage each month. If you recently changed jobs or are in between jobs, it could be to your benefit to wait 3-6 months before getting pre-approved. In that time, you can continue to raise your credit and save for a down payment, further increasing your chances of getting a low-interest loan.

Preparing for homeownership

While the financial aspects of homeownership are important, so are the personal aspects. You’ll want to consider several life factors before buying a home.

First, think about your longterm goals. Do you want to live in the same area for the next 10 to 30 years? Will your career bring you to different regions or will you attend school somewhere else? These questions will help you decide if it’s a good time to buy or a better investment to save money while renting.

If you have a family (or plan on having one soon), you’ll also have to find a way to balance all of your living needs.

Finally, ask yourself if you have time for homeownership. Many people who are used to renting aren’t aware of the amount of time and money it takes to maintain a home. You’ll have more bills, you’ll have to mow your own lawn, and you’ll be responsible for maintenance of your home.





Posted by Lynne Eliopoulos on 7/12/2020

If you find lots of great homes are available and cannot decide which residence to buy, there is no need to stress. Rather than submit multiple offers to purchase various houses, you should hone your home search. By doing so, you can discover the right residence, at the right price.

Now, let's take a look at three tips to help you narrow your home search.

1. Define Your Dream Home

Think about the features you want in your dream home. Then, you can make a list of "must-have" home features and search for residences that offer these features.

Furthermore, consider where you want to reside. If you prefer big city living, for example, you may want to focus exclusively on city houses. On the other hand, if you want to reside in a small town, you can search for residences in myriad small towns.

2. Conduct a Preliminary Housing Market Review

Let's face it – searching for a home can be overwhelming, regardless of whether you are a first-time or experienced homebuyer. But if you perform a preliminary housing market review, you can get a good idea about the volume and quality of available residences. Next, you can use this real estate market information to map out your homebuying journey.

Of course, it may be beneficial to attend open house events as well. These events enable you to get an up-close look at assorted residences. They also can help you understand the features you want in your dream house so you can further refine your home search.

3. Consult with a Real Estate Agent

When it comes to navigating the housing market, it helps to have a real estate expert at your side. Thankfully, real estate agents are available in cities and towns nationwide, and these housing market experts are happy to help you acquire a superb residence at an affordable price.

A real estate agent understands what it takes to help you find a quality home that won't force you to break your budget. First, he or she will learn about your homebuying goals and teach you about the real estate market. A real estate agent next will help you analyze the real estate market and explore a broad range of houses. And once you find a house you want to buy, a real estate agent will help you craft a competitive offer to purchase this residence.

Let's not forget about the guidance a real estate agent provides throughout the homebuying journey, either. Purchasing a house is no small feat, and a real estate agent will take the guesswork out of the homebuying cycle. Best of all, a real estate agent can respond to your homebuying concerns and questions at any time.

If you want to discover a home that matches your expectations, it helps to plan ahead for the property buying journey. By taking advantage of the aforementioned tips, you can streamline your house search and find your ideal home faster than ever before.