How to Buy a House

How to Buy a House

By Stephen McCarthy
Decide which is best for you but generally speaking most people are better off owning a place of your own.
This list can be followed in any order but is best done concurrently.

Make Up Your Mind

Once you decide you want to buy a house. The 1st thing you need is a resolution. You need to commit yourself to the idea of buying a place.

Know Your Monthly Expense

Determine your budget. What could you realistically afford? You can get a general idea online however if you really want to know what you can afford you should speak with a mortgage professional. They will evaluate your credit, income, and funds available for down payment and tell you how much you can borrow.

How Much Down

Required down payments could range from 3% to 20% of the purchase price. If that money is available, great. Otherwise, build a realistic plan to save towards your down payment.

Know Your Credit Score

Credit. That same mortgage professional you talked with will tell you if your credit score is in an acceptable range. Or they will tell you what you need to work on to build your credit score up to allow you to obtain a mortgage.

Save and Build

No matter what throughout this process SAVE money and BUILD your credit score. Tip: When you have more money and a higher credit score you get better terms on the loan.

Location, Location, Location

Match your location to your budget. It can be a balancing act between the location you want and the one you can afford. Pick a starting point and go from there. Try to keep an open mind and consider your options. 

Your Real Estate Agent

Find a great real estate agent that will make your search a priority. You will work with this agent to evaluate the different options you have as a buyer. Your agent will help focus your search and guide you through the process from start to finish. And it is not just about finding the property. It is about finding the right property, at the right time, with the right mortgage, the right location, the right attorney, the right inspector, etc. You will know it when it happens. The right real estate agent will help.

Work With Stephen

I have been a full-time Boston Real Estate Sales Agent since 2001. I focus primarily on the South Boston, MA real estate market. However, I have closed sales throughout Greater Boston. I monitor values and market activity so that I may provide my clients with timely market information and expertise.

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