5 Essential Tips for Your Home Search

5 Tips for Your Home Search:

1. Picture Your Ideal Home

2. Determine Your Budget

3. Engage an Experienced Agent

4. Manage Your Search

5. Formulate an Offer Strategy

Searching for a home in Boston can feel like a

daunting task - there are a number of

neighborhoods at varying price points and properties tend to sell fast.

Here are 5 tips to help with your search:

1. Picture Your Ideal Home

The first step is to visualize what it is that you are looking for in a home. We are fortunate enough

in Boston to have a diverse selection of neighborhoods that feature many different

offerings. Would you like to live in the midst of a

bustling area with restaurants and shops just a few steps away, or would you prefer a more

private, residential setting? Do you picture a condominium with charm, a full service luxury

building with a concierge, a single family house

with a private yard or something in between? It is important to make a list of non-negotiable,

“must have” items, as well as a wishlist of additional features that may not be deal-

breakers.

2. Determine Your Budget

Setting a budget at the beginning of the process

will substantially help you in your search. It is important to meet with a loan officer so that you

can obtain a pre-approval letter. Not only will this help you determine what you will be able to

afford, but a pre-approval letter will be required

when you submit an offer on a property.

Understanding your budget and what you

envision for your ideal home can help determine the neighborhoods you should focus on.

3. Engage an Experienced Agent

Although most buyers begin a search online initially, they do find working with a competent

agent is a necessity. Many online sites are not up to date and an agent can not only familiarize you

with neighborhoods, but will set you up on a real

time information network so you are getting news regarding open houses, new listings, etc. as

they appear.

Overview

When it comes to negotiating an offer and guiding you through the purchase process, an

established agent has invaluable insight of market conditions, various building and

management issues, and timing. Buyer’s agents

are generally no cost to you, so don’t make unnecessary costly errors.

4. Manage Your Search

Once you have a handle on what you can afford

and the neighborhoods you want to focus on, set

up a search so that you receive continuous updates. Again, an experienced real estate agent

can set this up for you, and will also monitor listings as they come on. As new properties

come to market, you will see the different types

of opportunities that arise and at what price and how quickly they sell.

Additionally, as your real estate agent receives your feedback and starts to hone in on your ideal

home, he or she can keep an eye on sources

beyond the traditional marketplace. Experienced agents network with other professionals and

sometimes hear about new properties before they come on the market or that may not be

publicly l isted (although rare, there are

sometimes off-market properties for sale).

Finally, consider your timing, budget and

willingness to take on a project to decide if you can manage any renovation or cosmetic updates,

or if you prefer to pay a premium for a home

that’s move-in ready (or close to it).

5. Formulate an Offer Strategy

Whether you have been searching for a few days, a few months or even longer, once you find a

property you want to take the next step with, how will you move forward?

Perhaps most important is determining the price

you will offer. An experienced agent will provide you with comparable sales data to show you

what similar homes have recently sold for, which you can use to get comfortable with a price you

will offer.

In addition to price, there are many other terms that need to be considered - home inspection,

financing contingency, timing, etc. Boston’s housing market is competitive, so be sure that

your offer is presented in an organized and

compelling manner.

____________________________________

Cabot & Company is a full-service boutique real estate company servicing Boston, Cambridge and

the surrounding areas. We have been located on

Newbury Street in Boston’s Back Bay for over 35 years, and we have residential, commercial and

property management teams to help us deliver results to each and every client. Our personable

and informed agents will help you achieve your

goals in purchasing or selling a home, investing in income property or renting an apartment.

Contact us and/or start your search through our website: www.cabotandcompany.com

213 Newbury Street, Boston, MA 02116 | 617-262-6200 | www.cabotandcompany.com