Consoli Realty Group - North Andover MA Real Estate, Haverhill MA Real Estate, Methuen MA

There’s a lot of things to think about before buying a home--some financial, others personal. Most people tend to focus on one or the other. However, both are instrumental in choosing the right house and buying at the right time.

In this article, we’re going to talk about some of the ways you can determine if you’re ready for homeownership. We’ll discuss things like credit scores and down payments, but also important life factors like your career and future plans.

Getting your finances in order

There are a few simple things you can do right now that will help you understand if you’re financially secure enough to start looking at houses. First, you’ll want to look up your credit score.

Lenders strongly consider your credit when determining how much risk is involved in lending to you. A higher credit score can not only get you approved for a mortgage, it can lower your interest rate and make you eligible to borrow without having to pay private mortgage insurance.

The amount of money this saves seems trivial in the short term, but over the lifespan of your loan it can save you tens of thousands of dollars. So, read a free credit report and if your credit is lower than 700 start finding ways to improve your credit.

In the meantime, you’ll want to save for a down payment. While it’s possible to buy a home with a small or no down payment, it can come back to haunt you in the form of interest as you pay off your loan. Furthermore, many lenders won’t pre-approve you unless you make a down payment of a minimum amount (often 20% of the loan).

If you have a high credit score and you’ve saved for a down payment, another thing to check off your list would be proving your stable income. This can be difficult for the self-employed, contract workers, or people who have recently changed jobs.

Lenders want to see that you have a stable income history to ensure that you’ll be able to pay your mortgage each month. If you recently changed jobs or are in between jobs, it could be to your benefit to wait 3-6 months before getting pre-approved. In that time, you can continue to raise your credit and save for a down payment, further increasing your chances of getting a low-interest loan.

Preparing for homeownership

While the financial aspects of homeownership are important, so are the personal aspects. You’ll want to consider several life factors before buying a home.

First, think about your longterm goals. Do you want to live in the same area for the next 10 to 30 years? Will your career bring you to different regions or will you attend school somewhere else? These questions will help you decide if it’s a good time to buy or a better investment to save money while renting.

If you have a family (or plan on having one soon), you’ll also have to find a way to balance all of your living needs.

Finally, ask yourself if you have time for homeownership. Many people who are used to renting aren’t aware of the amount of time and money it takes to maintain a home. You’ll have more bills, you’ll have to mow your own lawn, and you’ll be responsible for maintenance of your home.

This Condo in Newburyport, MA recently sold for $415,000. This style home was sold by Office Consoli Realty Group - Consoli Realty Group.

522 Merrimac St, Newburyport, MA 01950


Sale Price

Full/Half Baths
Views of Merrimack River from this pristine condex. The outside deck and patio surrounded by gardens is like living in paradise. Inside, there is a large, gas fire-placed living room with hardwood floor. Double glass door to the deck. Half bathroom with first floor laundry. Kitchen is upgraded with granite, hardwood and stainless steel. Upstairs you'll find 2 bedrooms. Master bed with views of the Merrimack River, large full bath, and sitting area. Bedrooms have brand new wall to wall carpet. One full and one half bath in the property. Top it off with central air for the hot Newburyport nights. Full basement for storage. This condex was fully refinished in 2007. You won't be disappointed. Showings start right away.

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This Single-Family in Amesbury, MA recently sold for $625,000. This Colonial style home was sold by Office Consoli Realty Group - Consoli Realty Group.

19 Paige Farm Road, Amesbury, MA 01913


Sale Price

Full/Half Baths
MOVE RIGHT IN to your gracious and spacious CUSTOM COLONIAL by builder Don Hughes with 4 levels of living in South Hampton Woods, Amesbury's most coveted neighborhood. OPEN-CONCEPT fire-placed living room, dining & kitchen w/ granite counters & NEW STAINLESS STEEL JENNAIR appliances, 2 dishwashers and gourmet gas stove on the main level. High ceilings, hardwood floors, built-ins and beautiful crown molding throughout. Enjoy 4 large BRs including master suite w/ DUAL RAIN SHOWERS, JETTED TUB, dual vanities and fireplace on 2nd floor. Huge Bonus/Family/Guest Room/Office on 3rd floor. Finished walk-out basement features family room and JACUZZI HOT TUB. Outdoor deck off of dining area overlooks beautiful private wooded area w/small brook and professionally landscaped yard. 2 gas fireplaces, 4 Zone Natural Gas Heat/Central AC and VAC. 2-car oversized, heated garage. New roof. Close to Beach, Restaurants, Newburyport, 95/495. First showings @ Open Houses Sat 4/27 & Sun 4/28 12-2PM.

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If you’re in the market to buy a home, one of the easiest ways to do it is to look for homes that are move-in ready. Out of all the options that exist for buying real estate, buying a house that’s ready for you is a no-brainer. 

The problem for many real estate agents who are helping buyers find homes is that buyers aren’t sure what “move-in ready means. It means something different for everyone. Below, we’ll discuss some misconceptions and truths about move-in ready homes. 

Move-In Ready Doesn’t Have To Be New

New construction homes are indeed move-in ready, but there are a few roadblocks to buying new construction homes. First, these homes take some time to get. Many times,  buyers are purchasing them and waiting months to move in. There’s also less of a selection of locations. Most new construction homes can be found in the same area because that’s where the land is. New construction is certainly an option for people who have the time to wait to move into a new home. 

There are plenty of existing homes that may not need much work and have been constructed in recent years. You may not have been able to pick the colors on the walls or the types of countertops you have, but the house certainly isn’t falling apart. 

Move-In Ready Could Mean There’s A Little Work

Buying a fixer-upper is worlds different from purchasing a home that’s ready for you to live. Some move-in ready homes could use some work. The work involved is only cosmetic. The walls may need some painting or the house may need some cleaning up, but everything that needs to be done will be minimal. These are the types of projects that will be involved in buying a home that’s move-in ready.

The Benefits Of A Move-In Ready Home

You can enjoy the home right away

Things like appliances and other features in the house will be newer

The home will be in a sought after location

Sellers and builders will be motivated 

It's easy to enjoy the home and find newer features in a move-in ready home. New constructions homes will have the latest in everything from appliances to security. The owner will have upgraded homes that are ready to move to. More modern homes also tend to be in desirable locations. All of this not only equates to better living conditions for you an your family but better value when you sell the home at a later date.           

This Single-Family in Lawrence, MA recently sold for $445,000. This Antique style home was sold by Office Consoli Realty Group - Consoli Realty Group.

500 Lowell St, Lawrence, MA 01841


Sale Price

Full/Half Baths
One of a kind listing in highly desirable Tower Hill. Elegant 1860s Italianate Victorian sitting on a lovely piece of property with lots of yard in front and private garden area in back. 12 Rooms 5 Bedrooms with an additional 3 Parlors with wood flooring throughout. Period trimwork and attention to detail in all rooms. Large Remodeled Kitchen with hand picked tiles. Ornate Tin Ceilings. Several working fireplaces. 1/2 Acre of property with mature gardens. Detached Barn with lots of storage upstairs. This type of property rarely exists in Lawrence any longer. Come see a piece of history. Perfect house for entertaining.