Bethania Camilo - Coco,Early & Associates Star Division LLC



Posted by Bethania Camilo on 12/9/2018

With rent prices shooting soaring across the country, many young Americans who were previously happy renting while they saved for a home are now turning to other options.

One common solution is a starter home. If you want to keep your monthly mortgage prices low while being able to build equity and slowly save for your “forever home.” a starter home can be a great option for first-time buyers.

When does it make sense to buy a starter home?

Buying a home means mortgage payments, home maintenance and repairs, and closing costs. However, they can also be a great introduction to the responsibilities of homeownership.

Better yet, starter homes allow you to build equity that can be used toward the down payment of your next home, something that first-time buyers often struggle with. This could help you secure a lower interest rate and avoid costly private mortgage insurance (PMI).

Sounds great, right? But when shouldn’t you buy a starter home?

It might not make sense to buy a starter home if you don’t plan on living in it at least 3-4 years. You might find that the cost of renting is less than that of your mortgage payments and closing costs if you don’t live in the home long enough to reap the rewards.

It also might not be a good idea if your family is going to outgrow a small home in the next few years for the same reasons mentioned above. That makes it all the more important to discuss your long term plans with your spouse before considering a home.

Things to look for in a starter home

1. Resale value

One of the most important aspects of your starter home should be the ability to resell it in the future. Now, there is an endless number of factors that go into the marketability of a home. Key factors include the condition of the home and keeping it well-maintained, as well as the location of the home. Buying a starter home in an area that will attract young professionals down the road is typically a good investment.

2. Small size = low price

It probably goes without saying, but finding a home with a low price, at the expense of square-footage, is most often a smart choice when it comes to starter homes.

Small homes are cheaper to buy, cheaper to heat, and cheaper to maintain. However, since housing prices are trending upward, you’ll likely still see a positive return on your investment in ~5 years time when you’re hoping to buy again.

3. Reasonable home improvements

If you can spare the time, buying a starter home that needs some work can be an excellent investment. It can be more difficult later on when you have a large family to care for and less time to focus on making improvements.




Tags: starter home   first home  
Categories: starter home   first home  


Posted by Bethania Camilo on 12/2/2018

Ready to enter the real estate market for the first time? As a first-time homebuyer, you may encounter many challenges as you kick off your search for the perfect house. However, property buyers who understand these challenges will be better equipped than others to overcome such difficulties quickly and effortlessly.

Now, let's take a look at three common challenges that first-time homebuyers may face:

1. You don't know what to look for in a house.

You know you want to own a house, but how do you define your "dream" residence? Ultimately, you'll want to consider what you'd like to find in your perfect house so you can map out your real estate search accordingly.

Creating a checklist of things you'd like to have in your dream home usually represents a great starting point for first-time homebuyers. This checklist should include both "must-haves" and "wants" and can help you narrow your search for the ideal residence.

2. You aren't sure how much money you have available to purchase a home.

How much can you spend to acquire a residence? Without a budget, you may struggle to begin your real estate search.

Lucky for you, many banks and credit unions make it simple to get pre-approved for a mortgage.

Set up meetings with a few lenders in your city or town – you'll be glad you did. These lenders can help you assess your current financial situation, outline all of your mortgage options and ensure you can gain pre-approval for a mortgage.

With a mortgage in hand, you may be better equipped than other homebuyers to secure your ideal residence. This mortgage will help you determine exactly how much you can spend on a home. Plus, getting pre-approved for a mortgage can help you avoid the temptation to spend beyond your financial means to acquire your dream house.

3. You don't know what it takes to go from homebuyer to homeowner.

The homebuying process can be long and complicated, especially if you have no idea about what to expect from it. Fortunately, real estate agents are available to help you take the guesswork out of going from homebuyer to homeowner.

A real estate agent is a housing market professional who is happy to share his or her insights with you. He or she will respond to your homebuying concerns and queries and teach you about all stages of the homebuying cycle.

Furthermore, a real estate agent will set up home showings, keep you up to date about new houses as they become available and negotiate with property sellers on your behalf. This housing market professional will even go above and beyond the call of duty to guarantee you can purchase a home that you'll be able to enjoy for years to come.

When it comes to buying a home for the first time, there is no need to navigate the homebuying journey alone. Instead, collaborate with a real estate agent, and you can accelerate the process of acquiring a top-notch house at a budget-friendly price.





Posted by Bethania Camilo on 11/30/2018

This Single-Family in Lawrence, MA recently sold for $280,000. This Cape style home was sold by Bethania Camilo - Coco,Early & Associates Star Division LLC.


463 Riverside Dr, Lawrence, MA 01841

Single-Family

$285,900
Price
$280,000
Sale Price

7
Rooms
2
Beds
2
Baths
Completely renovated home with brand new kitchen, brand new hardwood floors, 2 full bathrooms one of which is brand new, two large bedrooms with a possibility of a 3rd. Great yard with above ground pool. Electricity and water heater have been updated. Won't last!

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Categories: Sold Homes  


Posted by Bethania Camilo on 11/29/2018


169-171 Haverhill St, Lawrence, MA 01840

North Lawrence

Commercial

$1,100,000
Price

1
Buildings
5+ Residential
Type of Comm.
8,276.00
Lot Size
Large rooming house in the heart of Lawrence with a view of the Common. 19 rooms fully rented out of which 4 have bathrooms and kitchens. Others have common bathrooms. Income is great and makes sense for any investors. Rent roll is provided on demand. Don't miss this opportunity!
Open House
No scheduled Open Houses

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Tags: Lawrence   Real Estate   Commercial   01840  
Categories: Price Change  


Posted by Bethania Camilo on 11/27/2018


48 Coolidge St, Methuen, MA 01844

Single-Family

$299,900
Price

5
Rooms
2
Beds
1
Baths
Cozy Ranch conveniently located near The Loop Shopping Center. Easy access to the highway. Property features open concept eat in kitchen, dining room and living room, 2 good sized bedrooms and possibility to convert it back to a 3 bedroom (Tax records indicate this home is a three bedroom). Full bathroom. Large basement ready to be finished. Good sized yard for Summer BBQs. Side street with minimal traffic.
Open House
No scheduled Open Houses

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Categories: Price Change