Now is the time to
buy a Boston home! Mortgage rates decreased for five straight weeks, but last
week, they rose again and are projected to continue increasing this year, according
to The KCM Crew. The sooner you buy, the more you’ll save each month on a mortgage
payment!
Fox Business recently shared how to get the lowest mortgage
rate, depending on what type of home you buy, what type of loan you get and how
much of a down payment you have saved up. Having a large down payment is key in
the Boston real estate market.
A high down payment will mean a lower interest rate per
month, saving you thousands over the course of homeownership. If you have
enough saved to pay cash for your home, Boston home sellers will love you,
especially if you find yourself in a bidding war.
As your Boston real estate agent, I want to share tips with
you on how to save more money, so that when you’re ready to begin the
home-buying process, you have a good amount saved up for a down payment.
How can you harness your willpower to save? Credit.com
shared some tips:
- Picture your goals. If your goal is to buy a Boston home, spend some time everyday visualizing that coming true. Create a vision board if that will help, with homes that look like one you’d like to buy. Focusing on your long-term goal will help you save moment-to-moment.
- Remove temptations. Automate transfers from your paycheck to your savings. This will take the temptation out to spend your money instead of manually transferring it. Hang out with friends who understand your goals and don’t pressure you into spending. Carry only cash instead of credit cards.
- Procrastinate. This is true when spending. Before you buy anything, browse around for the best price and find things you’d like to buy, but don’t buy them right away. Sit on it for a few days and decide if it’s a purchase that you really need or that really makes sense.
For more tips, check out the Credit.com article in its
entirety.
Looking for quick ways to save money that don’t take a lot
of thought? Black Rock Blog shared ten quick money-saving tips that only take five
minutes. Here are a few
- Unsubscribe from three online retailer emails. The fewer ads you see, the less likely it is that you’ll buy unnecessary items.
- Set up automatic bill pay for all of your credit card bills. This means no more late fees, which means no harm to your credit score.
- Remove two credit cards from your wallet and put them in a drawer where you won’t be tempted to use them. Don’t forget to keep paying them off, though!
When you’ve got a down payment saved and you’re ready to buy a Boston home, contact me. If you have questions about the home-buying process, also contact me. As your Boston real estate agent, I’m always here for you when you
need me!
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
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