Buying your first home is exciting, and in a competitive Massachusetts market, preparation is what wins. Here’s the checklist I give first-time buyers before we tour a single house.
1. Know your monthly number, not just the price
Your payment includes principal and interest, property taxes, insurance, and sometimes PMI or condo fees. Taxes vary a lot from town to town. Try my mortgage calculator to see the full picture.
2. Get pre-approved by a local lender
A strong pre-approval makes your offer competitive. I recommend Shant Banosian, Rate (NMLS #7206): (617) 827-6674. Tell him Rose said to call!
3. Ask about first-time buyer programs
MassHousing and the MHP ONE Mortgage help eligible buyers with lower down payments and assistance, and some towns offer their own help. Most require a homebuyer education class, so take it early.
4. Budget for closing costs
Plan on roughly 2% to 5% of the price for lender fees, attorneys, title insurance, recording fees and prepaid taxes and insurance. Good news: in Massachusetts the seller pays the deed excise tax.
5. Understand the buyer agreement
You’ll sign a written agreement with your agent before touring. It explains what I’ll do for you and how I’m paid. Ask me anything about it.
6. Line up your inspector and attorney
Massachusetts timelines move fast after your offer is accepted, so have them ready:
- Tiger Home Inspection: 1-800-62-TIGER (628-4437)
- Elliot Ralton, Ralton Law Group: (508) 697-1445
Tell them Rose said to call!
7. Pick your towns with real information
Schools, commute, taxes and the feel of a neighborhood all matter. Start with my free Town Guides.
8. Plan to file a Homestead Declaration
Recording a Declaration of Homestead after you buy increases the protection on your home’s equity. Your attorney can file it at closing.
Every buyer’s situation is different. For a more in-depth discussion about yours, call or text Rose at 781-248-6069.
First-Time Buyer Specialist
Your first home deserves an experienced guide.
Helping first-time buyers is a specialty of mine, and doing it well takes solid education, experience and knowledge of how Massachusetts purchases really work. For 30 years I’ve walked first-time buyers through every step, from pre-approval and first-time buyer programs to offer strategy, inspections and closing day, so you buy with confidence instead of guesswork.
Every buyer gets an individualized plan, built around your budget, your towns, your timeline and your circumstances. No two buyers are alike, and no two plans are either.
Let’s talk, whichever way is easiest for you
- Call or text: 781-248-6069
- Meet on Zoom on your lunch break or after work
- Meet in person: I’ll come to you, at home or wherever is most comfortable
Want to run numbers first? Try the mortgage calculator on my Massachusetts Buyer Resources page.
Rosemary Kelleher, Realtor®
Helping People Make Smart Moves in Real Estate for 30 Years
Direct/Text: 781-248-6069