STEPHANIE RIO MACFARLAND | Reading Real Estate, North Reading Real Estate, Wakefield Real Estate


If you’re in the market to buy a home, you want to find the perfect place for you and your family. In a seller’s market, the competition can be fierce. As a buyer, you may be under the impression that you need to make the highest offer in order to secure the home of your dreams. The problem is, you may never know what price other people have offered for the same home.


Know Your Budget


First, you should know what kind of a budget you have to work with to buy a home. You probably have done an online search to see what’s out there and what price range the homes you like fall into. You’ll want to go beyond the online search and actually see some of your favorite houses in person because pictures can be deceiving. 


Next, you’ll want to do is speak with a lender. This can help you before you even hit the ground running on your home search. A lender can pre-qualify you then work you through the process of pre-approval. This will give you a definitive number to work with when searching for a home. With this number, you’ll know how much you can offer comfortably when you find that house you fall in love with.


Make A List Of Priorities


Finding the “perfect” house usually requires that you make a few compromises along the way. It’s very unlikely that you’ll find one house that gives you everything you want in one place without a bit of imagination. Jot down all of the things about a home that are the most important to you. These items could include:


  • The neighborhood
  • Big backyard
  • Open floor plan
  • Number of bedrooms
  • Hardwood floors
  • The size of the rooms
  • Style of the house
  • Granite countertops


Whatever is important to you should be on the list. Next, go through the list and see what can be compromised on. There are probably a few luxuries on the list that you could stand to give up in lieu of something else.  


The Offer


Once you find that home you know that you absolutely want to live in, you’re going to want to make an offer. Let your realtor know immediately that you’re interested in the home and they can get to work. Your realtor can help you to make an offer that’s reasonable based on the asking price and your budget. Your offer doesn’t have to be thousands of dollars over the asking price for you to win the bid. There are a couple of strategies that can help you to land the right home even if you’re not stretching your budget to the max.


Showing You’re Serious


Taking steps like being pre-approved and having all of your finances in order can help to give you the upper hand in the house hunt. Sellers don’t want to deal with a buyer who is ultimately going to have issues where the deal will fall through.


The Offer Letter


Writing a letter along with your offer is a great personal touch to help you land the home of your dreams. If a seller knows that the home they have lived in and loved will go to another owner who is going to appreciate and take the same great care of the home, they will be more likely to go with you as a buyer. First, tell the seller a bit about yourself and why you love the home so much. Compliment the landscaping. Tell the seller just how much your kids are going to appreciate living in the home. Don’t be afraid to get too personal when it comes to writing an offer letter to the sellers. They will appreciate honesty and a candid approach in the sometimes all too serious matter of buying a home.


Deciding whether to set up a home showing sometimes can be a tough decision. Yet a home showing can make a world of difference for a buyer as he or she searches for the ideal residence.

Ultimately, there are many reasons to schedule a home showing, and these include:

1. You can look beyond a home listing.

A home listing generally offers details about a house's age and features, as well as photographs of different areas of a residence. But a home listing can only provide so much information. Fortunately, a home showing enables you to assess a house in person and decide whether a residence is right for you.

During a house showing, you can walk around a residence and view each room. If you want to further pursue a residence after a showing, you can submit an offer to purchase. Or, if you find a house fails to match your expectations, you can always continue your search for your dream home.

2. You can gain comprehensive insights into a house's condition.

When it comes to evaluating a house's condition, it typically is a good idea to attend a showing. That way, you can get an up-close look at a home's condition and determine whether a residence needs major or minor repairs.

A home showing enables you to analyze a residence both inside and out. After a showing is complete, you can decide whether you are satisfied with the condition of a home and map out your homebuying journey accordingly.

3. You can imagine what it would be like if you purchase a home.

A home showing makes it easy to envision what life may be like if you purchase a particular house. As such, a showing may prove to be crucial as you pursue your dream residence.

If you feel good about a house following a showing, you should not hesitate to submit a competitive homebuying proposal. Conversely, if you feel uncomfortable with a residence, you may want to pursue other options.

Of course, hiring a real estate agent may be exceedingly valuable as you search for your ideal house. A real estate agent can schedule home showings at your convenience and provide plenty of tips to help you pursue residences in any housing market. By doing so, a real estate agent will empower you with the insights you need to make an informed decision about a house.

Let's not forget about the assistance that a real estate agent will provide after you find your dream house, either. At this point, a real estate agent will help you put together a competitive offer to acquire your ideal residence. And if you have any concerns or questions as you move along the homebuying journey, a real estate agent is happy to respond to them.

Ready to find your dream residence? Schedule a home showing, and you take the next step to acquire your ideal house.


As a homebuyer, it is important to set high expectations. At the same time, a homebuyer must act reasonably, or he or she risks missing out on a golden opportunity to acquire the perfect residence.

Ultimately, becoming a reasonable homebuyer can be quick and easy – here are three tips to help you do just that.

1. Establish Realistic Expectations for the Homebuying Journey

The homebuying journey sometimes can take weeks or months to complete, and a homebuyer should plan accordingly. By doing so, a homebuyer can prepare for any potential homebuying pitfalls.

For example, a homebuyer may submit an offer on a home and receive a "Yes" from a home seller. But if a home inspector discovers myriad problems with a residence, a homebuyer may need to walk away from the house and restart the homebuying journey.

In the aforementioned scenario, a homebuyer may become frustrated and annoyed, and for good reason. Conversely, if a homebuyer understands the challenges associated with buying a house, he or she can plan for the best- and worst-case scenarios.

2. Search for Homes That Fall Within Your Price Range

Have you established a budget for your home search? If not, you may wind up focusing on houses that you won't be able to afford.

Get pre-approved for a home loan – you'll be glad you did. With a home loan in hand, you can enter the real estate market with a homebuying budget. Then, you'll be able to narrow your home search to houses that fall within your price range, thereby speeding up your search for the ideal residence.

It won't take long to get pre-approved for a home loan, either. In fact, if you meet with local banks and credit unions, you can instantly learn about a variety of home loan options.

3. Collaborate with a Real Estate Agent

Although you know that you want to buy a house, you have no idea what to expect during the homebuying journey. Fortunately, if you hire a real estate agent, you can learn what it takes to stay calm, cool and collected as you search for a house.

A real estate agent is a housing market expert who takes pride in his or her work. As such, a real estate agent will be available to respond to your homebuying concerns and questions, ensuring that you can make an informed home purchase.

Perhaps best of all, a real estate agent will go above and beyond the call of duty to eliminate homebuying hurdles.

For instance, a real estate agent is happy to negotiate with a seller's agent on your behalf, guaranteeing that you can avoid the stress of negotiating a home price. Or, if you need help finding a qualified home inspector, real estate attorney or other local professionals, your real estate agent can provide honest, unbiased recommendations.

Be reasonable as you kick off your search for your dream residence. That way, you can seamlessly navigate the homebuying journey and improve your chances of acquiring a house that matches or exceeds your expectations.


The decision to purchase a second home may be one of the biggest choices you will make in your lifetime. As such, it is important to consider all of the factors associated with a house purchase before you embark on a quest to acquire a second residence.

Now, let's take a look at three key factors to evaluate as you weigh the pros and cons of purchasing a second home.

1. Your Current House

Consider the state of your current house – you will be happy you did. If you assess your current residence, you may be better equipped than ever before to determine if now is a good time to start a search for a second house.

For instance, if your home needs a new roof or requires other repairs, you may want to complete these improvements first. After these house repairs are finished, you then can kick off a search for your second house. Perhaps most importantly, you can launch this home search with the reassurance that your current house is in good shape and likely won't require significant repairs in the near future.

2. Your Finances

If you still have a mortgage on your current house, you may want to focus on paying that off first. Once your mortgage is paid in full, you can conduct a search for a second house without having to worry about paying two mortgages at once.

Of course, if your current house's mortgage is paid in full, you should still evaluate your finances closely. Ensure you have sufficient finances to cover a mortgage for a second house, as well as your everyday expenses. By doing so, you can hone your search for a second house to residences that fall within your price range.

3. Your Immediate and Long-Term Plans

Think about why you want to buy a second home in the first place. Then, you can determine how this decision may impact your immediate and long-term term plans.

For example, if you want to return to college, buying a second home may affect how much money you have at your disposal that you can use to go back to school. On the other hand, if you hope to get a work promotion in the foreseeable future, you soon may have additional funds to help you make your dream of owning a second home come true.

As you decide whether to launch the search for a second house, take some time to consult with a real estate agent. A real estate agent is a homebuying expert, and he or she can provide housing market insights that you may struggle to obtain elsewhere. Plus, a real estate agent will guide you along the homebuying journey and can help you acquire a top-notch house at a budget-friendly price.

Account for these factors before you start your search, that way you can make an informed decision about whether now is the ideal time to pursue a second residence.


Image by StockSnap from Pixabay

The perfect home is not the only thing you'll need to shop for when you want to become a homeowner. In order to get the best terms, the lowest monthly payment and a reasonable interest rate, start doing some homework now -- before you even attend your first open house. 

1. Check Your Credit Score

Checking your credit score should be the first thing you do when you're considering the purchase of a home. Why? Because every lender you speak to will use it as a benchmark for determining the likelihood of you being able to pay off the debt. The better your credit score, the more favorable terms and interest rates a lender might offer you. The earlier you know your credit score, the more time you have to address any issues that might be contained in it. Remember, you're entitled to one free credit report from each of the three reporting agencies each year. Take advantage of this service and keep tabs on your credit score. 

2. Have Steady Employment 

Being able to demonstrate that you are gainfully employed will go a long way toward qualifying for a mortgage loan and being offered attractive interest rates. Aim for at least two years of unbroken employment. Be ready to back up your claims regarding the duration of your employment and the dollar amounts you bring home. 

3. Offer a Sizable Down Payment 

Come to the negotiating table with a lender and with a solid down payment, you'll be able to enjoy lower monthly payments. There's no fast rule regarding the amount of a down payment. That being said, most lenders like you to have at least 20 percent of the home's purchase price as the down payment. There are some lenders, however, who accept less than 20 percent. If your lender accepts down payments that are less than the standard 20 percent, expect to have to purchase private mortgage insurance. This can be anywhere from .05 percent to 1 percent. 

4. Know Your Debt To Income Ratio

The debt to income ratio demonstrates your ability to pay off the mortgage as agreed upon. Most lenders like to see that your monthly debt payments are equal to or less than 43 percent of your gross monthly income. 

In a seller's market, there might be several people vying for the same home. Addressing the items above can make you look more attractive compared to some of the other potential home buyers. 




Loading