Tips for buying and selling Boston real estate

Particularly over the past few years, the Boston real estate market has been highly regarded and especially competitive, with a price appreciation rate of around 8%. According to the Greater Boston Association of Realtors, there was a 7.4% increase in the median price of single-family Boston homes from January 2021 to 2022.

 

Boston has been ranked in the top 20 in US News & World Report’s list of the best places to live in 2022. It is not a surprise that more and more people are choosing to make their homes here.

 

With the increased demand, it is the ideal climate for people to sell their existing Boston residences as well.

 

With the competition stiff, it is crucial that you know the ins and outs of Boston real estate before getting started. Dylan Costello, real estate agent, can be your expert guide to buying or selling your property with these excellent tips.

Following these four tips will ensure that you, the buyer, will find the best value for your money especially in the competitive Boston real estate market. Also, having an experienced realtor who knows the neighborhoods can help you choose a house that is perfect for your needs.

 

Before starting the process of buying a home in Boston, the first thing to do is to get pre-approved. After your credit history and financial background are evaluated, getting pre-approved will give you a great idea of how much you can afford in your new home. Knowing the numbers means that you can then look for homes in Beacon Hill real estate that are within your price range.

Once you and your agent start looking for homes, consider homes with commission rebates. A commission rebate is when the real estate brokerage gives the homebuyer a percentage of the commission they received. This will provide you with more money to reinvest into your home or elsewhere.

When searching for your dream home, be sure to take a look at the mortgage rates. Even a small difference can mean thousands of dollars in savings during the entire life of your loan. Look at rates offered by different banks and mortgage companies and select the ones that will enable you to save money each month.

When you are looking at potential Boston neighborhoods of interest, such as Back Bay real estate, look at the surrounding homes and determine what their current values are. Your real estate agent will assess the sales history of recently sold homes in the area and evaluate the market to determine how much your home’s value would be expected to change over time. They can calculate your home’s ability to appreciate in five, 10, or even 20 years down the line. Of course, you want to find a home that will continue gaining value to get the best investment. Look to your real estate agent for guidance in determining whether a neighborhood has investment potential.

When in a seller’s market, this is excellent news if you are interested in selling your property. In this situation, there is a limited quantity of Boston residences up for sale and an increased number of interested buyers, so you will have the freedom and luxury to get more money back from your real estate investment.

 

Even though the odds are considerably in your favor in making a sale, you still want to follow these tips to leave a remarkable impression on potential home buyers.

 

You want your potential buyers to be able to visualize themselves in the home. For this reason, you should remove any custom touches and personal memorabilia before showings. Remove the photos from the walls, take down the magnets from the refrigerator, and remove any political or religious artifacts. Tidy up the shelves, counters, and closets and only keep the bare essentials in the house. You want your buyer to enter a clean, tidy, and minimalistic floor plan that looks like it has the potential to be modified to fit them and their specific style.

 

Just like you need to make the inside tidy and inviting, you need to do the same with the exterior. Remember that the exterior will be the first thing a buyer sees when considering your home. Make the needed repairs, freshen up the paint, wash the windows, and do the necessary landscaping work so that your home exterior looks fresh, clean, and welcoming.

 

Because a move-in-ready home can be an important selling point for many buyers, it’s a good idea to complete any minor repairs that can detract from the overall vision of your space. Take a thorough walk-through of your home and make a note of any repairs that need to be done, especially if they are easy to do yourself. Seal up the cracks or fix any minor damages. Fix the window panes, and repaint the walls if they look dingy. Change out the light fixtures to illuminate the space.

 

It’s also a good idea to set up a professional pre-listing home inspection to determine whether your home needs any more substantial repairs. Call a professional to see if there are any plumbing, heating, or electrical issues in the house. Completing repairs like these can make a world of difference in making your home look presentable and inviting to potential buyers.

Once the minor repairs are done, then consider hiring a professional cleaning team to make your home sparkle and shine in every corner. Once your house has been thoroughly cleaned, you can easily and quickly spot clean and dust the house before each showing to ensure that it looks its very best each time. It also leaves you free to set up the finishing touches so that you can quickly get your house ready to sell.

If you’re ready to buy or sell in the incredible Boston area, contact Dylan Costello for expert guidance. Whether you’re looking at Back Bay, Seaport, or Beacon Hill real estate, you can count on the Dylan Costello Team for customer service that goes above and beyond as you search for your beautiful new home or navigate offers as you sell your property.

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