Millennium Realty



Posted by Millennium Realty on 9/20/2018

If you are thinking of buying your first home, you’re thinking of making the single biggest purchase of your entire lifetime. Real estate is complex. From getting finances in order to understanding the entire process to securing the home you love, there’s so much that you’ll need to know when it comes to buying your first home. 


What Is A Down Payment?


A down payment is a one-time cash payment that you’ll provide at the closing table when you buy a home. How much your down payment is will have an effect on how much your monthly mortgage payment will be. It will also affect your initial home equity value. 


Should You Keep Renting?


First, you’ll need to think of a savings goal and a timeline. The general rule is that if you own a home for at least 5 years, you have gotten your “money’s worth” out of the closing costs and the fees you paid at the time you purchased your home. If you don’t think you’ll stay in a home for at least 5 years before making another move, you may want to consider renting until you know where you want to settle. 


What Can You Afford? 


You’ll need to calculate just how much home you can afford. Look at potential monthly mortgage payments plus taxes, fees, insurance, utilities and other monthly expenses that you have.


In dual-income households, it’s nice if the living expenses can be covered just by one person’s paycheck. Once you have an idea of your budget, you can price out homes that will meet your needs and be in your price range. 


Why You Should Save More


The best practice in buying a home is to put 20% down on the house. With this sizable down payment, it will be easier to get approved for a mortgage. You’ll also avoid needing PMI (private mortgage insurance.) This is an additional cost for people who put down less than a 20% down payment. This can cost you a lot of money each month, so it’s best to save as much as you can for that initial down payment. 


Don’t be discouraged. You can still buy a home with a lower percentage of a down payment, but you’ll have to pay for the PMI and include the additional expense in your budget. The Federal Housing Administration has many different options available that allow you to put a smaller down payment on a home, so do your homework.  


How To Save 

           

Once you get an idea of about how much you’ll spend on your home, you need to take action and start saving. There are many ways that you can save automatically without even thinking about it. You can choose a fixed amount or percentage of your paycheck and save it automatically into the house fund. Save as much as you can so you’ll be able to make your home purchase more quickly. You may even want to consider putting your money into a money market account for a higher return on your savings once you reach a certain goal. 


Don’t Forget To Save Your Bonuses


Whether you have received a gift or a sizable Christmas bonus, make sure that you put that money away towards your home purchase. Every little bit helps. While we may have an inclination to want to spend the money on more immediate things, you’ll be happy that you saved your money when you head to purchase your house! 


Use Your IRA


The IRS allows a tax benefit for first time home buyers. You can take out up to $10,000 out of your IRA or Roth IRA for a first time home purchase. Your Roth IRA account must be at least 5 years old in order for you to do this. Distributions from this account are tax-free, but you’ll need to pay tax if you withdraw form a traditional IRA. You should discuss any withdrawals that you do make with your financial advisor and your tax advisor. This could be an opportunity for you to build your wealth in a new way, so make an informed decision. 


Happy saving and happy house hunting!





Posted by Millennium Realty on 9/19/2018


76 Lane Dr, Norwood, MA 02062

Single-Family

$550,000
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
You have been waiting all year for this! Amazing home, prime location, and thoughtful updates! This four bedroom expanded Cape is situated in a desirable, quiet neighborhood in the Cleveland School district, and is just 1 mile to the Commuter Rail (30 min to South Station). The beautiful corner lot boasts lush greenery screening the oversized deck. The rare attached garage, has been freshly painted inside and is squeaky clean. Inside, the home is obviously well cared for: beautiful hardwood floors, stainmaster carpets, and tile all installed since 2014. Harvey and Anderson replacement windows throughout. Water heater less than 1 year old, and roof is about 6 years old. Three oversized bedrooms upstairs, with a fourth on the first floor. The basement, complete with it's own 1/2 bath, is perfect for exercising or as a playroom. Fresh paint and new plumbing/electrical fixtures throughout, this home leaves nothing for you to do but to move right in. Showings begin at OH on Sat, 9/22, 11-1
Open House
Saturday
September 22 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 76 Lane Dr, Norwood, MA 02062    Get Directions

Similar Properties





Categories: Open House  


Posted by Millennium Realty on 9/19/2018


76 Lane Dr, Norwood, MA 02062

Single-Family

$550,000
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
You have been waiting all year for this! Amazing home, prime location, and thoughtful updates! This four bedroom expanded Cape is situated in a desirable, quiet neighborhood in the Cleveland School district, and is just 1 mile to the Commuter Rail (30 min to South Station). The beautiful corner lot boasts lush greenery screening the oversized deck. The rare attached garage, has been freshly painted inside and is squeaky clean. Inside, the home is obviously well cared for: beautiful hardwood floors, stainmaster carpets, and tile all installed since 2014. Harvey and Anderson replacement windows throughout. Water heater less than 1 year old, and roof is about 6 years old. Three oversized bedrooms upstairs, with a fourth on the first floor. The basement, complete with it's own 1/2 bath, is perfect for exercising or as a playroom. Fresh paint and new plumbing/electrical fixtures throughout, this home leaves nothing for you to do but to move right in. Showings begin at OH on Sat, 9/22, 11-1
Open House
Saturday
September 22 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 76 Lane Dr, Norwood, MA 02062    Get Directions

Similar Properties





Categories: New Homes  


Posted by Millennium Realty on 9/17/2018


45 WHITTENTON ST., Taunton, MA 02780

Multi-Family

$305,000
Price

2
Units
1,580
Approx. GLA
Don't miss the opportunity to own this beautiful two family home. Each unit has its own, separate entrance and separate driveway which means plenty of parking for everyone. Unit #1 offers 2BR plus another room that can serve as an office, playroom, or whatever meets your needs. Spacious eat-in kitchen features recessed lighting, abundant cabinets for storage and a garbage disposal. Need more space? Enjoy the heated, enclosed porch with cathedral ceiling that leads to the fenced in backyard which is great for entertaining. Unit #2 offers 3BR & 1BA (fully renovated in 2015) with lots of natural light and large living room. Plus, the full, walk out basement is heated with a full bathroom and is ready to be finished. Washer/Dryer combo. (less than 1 yr. old) is included. Updates include: blown in insulation (2017), H20 Heaters (1-2 yrs. old), roof (2014/2015), fence (4 yrs. old ), driveway (2012). Great for owner occupied with rental income or as an investment property. Must see!
Open House
No scheduled Open Houses

Similar Properties





Categories: New Homes  


Posted by Millennium Realty on 9/13/2018


90 Freedom St, Hopedale, MA 01747

Condo

$225,000
Price

6
Rooms
3
Beds
2
Baths
Move right in to this well-built home in an amazing location with water views of Hopedale Pond! Say” goodbye” to doing laundry in the basement with the first floor washer/dryer in the updated first-floor oversized full bathroom. This home has been touched over the years by amazing craftsmen: beautiful hardwood floors, French doors, built in cabinets, and a carved wood banister, to name a few. The carpet on the second floor is new in July 2018. The walk-up attic is begging to be finished as a playroom, studio, or even a dream-like master suite! Quick drive to commuter rail, I-495 and 146, walk to the schools, library, restaurant, parks, and athletic fields. Don’t miss the jewel of Hopedale: the wooded trails of The Parklands, right out the back door! All this at an amazingly affordable price, with no monthly condo fees!
Open House
Sunday
September 16 at 12:00 PM to 2:00 PM
Reintroducing this amazing 1/2 duplex condo! Seller's have mostly moved out, new pics now attached to listing!
Cannot make the Open Houses?
Location: 90 Freedom St, Hopedale, MA 01747    Get Directions

Similar Properties





Tags: Hopedale   Real Estate   Condo   Open House   01747  
Categories: Open House  




Tags