Millennium Realty



Posted by Millennium Realty on 9/24/2020

Image by Chanh Nguyen from Pixabay

Buying a home ranks among the largest purchases everyday people make in their entire lifetimes. If you have gone through the process at least once, you probably gained some valuable life lessons. Whether it’s time to purchase a larger home for a growing family or downsize to a more manageable living space, there are pitfalls that trip up even experienced homebuyers. These rank among the unforeseen issues that can cause setbacks and ways to avoid them.

1: Overcompensating For Past Regrets

When buyers search for their next home, it’s not uncommon to be driven by the perceived shortcomings of the last. For example, you bought a property that had all the living space you need. This may have included a home office, attached garage, and plenty of room to entertain guests. The downside may have been a lack of outdoor living space. Driven by the desire to have a veranda, deck, or big yard, emotion may cause you to compromise on other musts. It may be in your best interest to make a checklist of your needs and be certain you won’t experience buyer’s regret, a second time.

2: Skipping Contingency Planning

It’s not unusual for people to see properties moving quickly in their area and become overconfident yours won’t sit on the market long. The common mistake is to move forward and buy your dream home while expecting only a short period of holding two mortgages. If for some odd reason the market goes dormant in your neighborhood, the financial implications could prove disastrous.

The flipside is selling your hot property and renting as a stop-gap measure. Low housing inventories and competitive markets could land you in a pinch, and home-ownerless for an extended period. These are the reasons why people rely on contingency plans. Craft a deal that sets the homes up like a series of dominoes. When one sells, they all move, and you spend only one day relocating instead of many in a tight spot. Contingencies provide security and stability.

3: Forecasting A Neighborhood’s Future

No homebuyer or real estate professional has a crystal ball that accurately predicts a property’s value. But there is plenty of hard data that can be used to indicate whether a neighborhood is trending in the positive or negative. This may be particularly true in 2020.

Potential homebuyers can look at the pricing that includes listing, sales, and valuations that began before the last recession and lending crisis. You can expect to see a decline in these measures during that rough period. But these days, the economy is robust in many areas. How the property, and surrounding area, performed coming out of the recession could be a telltale sign of where values are heading. The point is to conduct thorough due diligence about the home and others in the neighborhood. Making an informed decision is critical to purchasing a property, regardless of whether you’re a newbie or seasoned homebuyer.




Categories: Uncategorized  


Posted by Millennium Realty on 9/22/2020


584 Chestnut Hill Rd., Millville, MA 01569

Rental

$1,850
Price

5
Rooms
2
Beds
1
Baths
Very charming Cottage style Country Home situated on approx. 2 wooded acres of Millville/Mendon town line across from Mendon State Forest walking/biking trails. Enjoy perennial gardens, lilac bushes, horse paddock, also a large shed for extra storage with electricity, Chicken coop. Newer kitchen and bath, pickled oak cabinets. Tile in Kitchen and bath, new pergo flooring throughout the rest of the home. Living room has cathedral ceilings, rustic beams, cozy working corner fireplace. First floor hook up for wash/dryer. Some pets considered. No smoking in house. Tenant responsible for Snow/Ice removal and lawn care. (mower supplied). Rent includes water/sewer and refuse removal. First/Last/Security. Security can be paid over 4 months. $40 fee per adult for application credit/criminal check.
Open House
No scheduled Open Houses






Tags: Real Estate   Rental   01569   Millville  
Categories: Price Change  


Posted by Millennium Realty on 9/22/2020


123 Laurelwood Drive, Hopedale, MA 01747

Rental

$2,200
Price

5
Rooms
2
Beds
2/1
Full/Half Baths
Move in early October! Beautiful 2 BR 2 BA Harvard Unit with attached 2 car garage. Get settled in your new home and enjoy a large LR that has a wood fireplace with sliders to deck overlooking woods! Gorgeous french doors lead from living area to a spacious first floor office/library. Second floor has 2 large bedrooms- each it's own private bath and ample closet space! Laundry hookup also on second floor. Galley walk through style kitchen with a bright breakfast area. First floor is tile and pergo flooring, second floor is neutral carpet. There is plenty of extra storage space in the large unfinished basement. Central A/C,. Rise Energy assessment/insulation completed 9/19. First/Last/Security required. $40. fee to tenants for credit/criminal check. Pets depending on type/size/breed/temperment/# of. Showings begin Sept. 26.
Open House
No scheduled Open Houses






Tags: Hopedale   Real Estate   Rental   01747  
Categories: New Homes  


Posted by Millennium Realty on 9/17/2020

Buying a home will likely be one of the largest financial decisions you will make in your lifetime. While this may seem scary at first, itís worth noting that buying a home can also be a valuable financial investment.

When it comes to preparing to buy a home, many people just wait until they run out of room in their apartment before deciding that they need to upgrade to a home. A better approach, however, would be to start planning for your first home a year or more in advance.

Saving for a down payment is a vital step to making the best long-term financial decision. A larger down payment can help you pay off your home sooner, pay thousands or tens of thousands less in interest, and start using your home equity as an asset.

But, saving for a down payment is easier said than done. So, in this post, weíre going to talk about some of the ways you can aggressively save for a down payment so that, when the time comes, you can achieve long-term financial security from your investment.

Setting your savings goals

The first thing you should be thinking about when saving for a down payment is what your goals are in a home. Setting realistic goals in this phase will make saving for your down payment more feasible and less discouraging.

Think about what you really need from a home at this point in your life and compromise where you can.

Remember that on top of your monthly mortgage payments, youíll likely also be paying for taxes, insurance, utilities, homeowners association fees, and more.

Save on a timeline

When setting your savings goal, make sure youíre aware of the timeframe youíre working with. If you want to buy a home next year, youíll need to focus on short-term savings options. However, if youíre okay with renting for the next 5 years, investing your money could be a better option.

Lock away your savings

Treat your down payment savings like an emergency fund. Open a separate account, automatically deposit a portion of your pay into the account, and never withdraw from it. To do this, you will, of course, need to already have an emergency fund with a monthís expenses in it.

However, once youíve established your emergency fund, start immediately depositing into your savings account.

Pay off credit cards

It may seem like saving for a down payment is more pressing than paying off old debt. However, the numbers will show that making interest payments on your credit cards is essentially throwing away money that could have been used toward your down payment savings.

Adjust your spending habits

While it isnít easy to start spending less once youíve built a standard of living, there are ways to spend less money and still lead a fulfilling life. Think about where your money goes each month, including bills and services you might pay for.

Now could be the best time to cut the cord and start using a service like Hulu to save $50 or more each month.

Time for a raise?

If itís been some time since your last pay raise, now could be an ideal time to speak with your employer. To improve your chances of success, donít discuss reasons outside of work that might be influencing your decision to ask for a raise (such as saving for a down payment). Rather, back up your request with evidence of your accomplishments at work.




Categories: Uncategorized  


Posted by Millennium Realty on 9/15/2020


584 Chestnut Hill Rd., Millville, MA 01569

Rental

$2,000
Price

5
Rooms
2
Beds
1
Baths
Very charming Cottage style Country Home situated on approx. 2 wooded acres of Millville/Mendon town line across from Mendon State Forest walking/biking trails. Enjoy perennial gardens, lilac bushes, horse paddock, also a large shed for extra storage with electricity, Chicken coop. Newer kitchen and bath, pickled oak cabinets. Tile in Kitchen and bath, new pergo flooring throughout the rest of the home. Living room has cathedral ceilings, rustic beams, cozy working corner fireplace. First floor hook up for wash/dryer. Some pets considered. No smoking in house. Tenant responsible for Snow/Ice removal and lawn care. (mower supplied). Rent includes water/sewer and refuse removal. First/Last/Security. Security can be paid over 4 months. $40 fee per adult for application credit/criminal check.
Open House
No scheduled Open Houses






Tags: Real Estate   Rental   01569   Millville  
Categories: New Homes  




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