Michelle Buras - Medfield MA Real Estate, Millis MA Real Estate, Medway MA Real Estate


If you’re trying to decide whether or not you should put a pool in at your home, there’s a lot to think about. You don’t want to regret spending a sizable amount of money. You may picture a life of luxury with a pool, but there’s a lot involved with the installation of it. It can be quite an ongoing investment to put in a pool. Maintenance, repairs, and more are involved. Depending upon the climate you live in, you may need to put a cover on the pool during the offseason as well.


When Putting In A Pool Is A No-Brainer


If you live in a warm climate like California, Florida, Hawaii, Or Arizona, it makes total sense to invest in a pool. these places get the maximum benefit from pool installation since the pool can be used the whole year through. 


If you have a large yard and are able to accommodate both a pool and some yard space, it’s also not a bad idea to put in a pool. The important thing is that you understand that you’re not always going to get a return on your investment when you sell your home. Not all homebuyers like pools and often the presence of a pool can even deter some buyers from even looking at the home.


Questions To Ask Regarding Return On Investment:


  • Does a pool fit in with the neighborhood?
  • Is the pool in good condition?
  • How old is the pool?

The idea with homes that have pools is to attract the right buyers. Many times, families with young children stay away from properties with pools since they see it as a safety hazard. Other home shoppers may fall in love with the property because of the pool. The important thing about putting in a pool is knowing that you as a homeowner will enjoy the feature. 


Costs


The average cost to put in a pool in the US is around $30,000. That’s just a basic pool. You’ll probably need to add a few more details like fencing, pool furniture, and more landscaping. That can cause the total investment to rise significantly. The type of pool that you choose also has an effect on the cost of the project. Don’t forget about the added energy expenses of running a filter and putting a heater in the pool. 


Insurance


When you have a pool, you’ll need to change the type of insurance that you have. The pool can increase your insurance costs significantly. There also could be certain requirements set forth by the insurance company, such as the pool needing to be fenced in. 


While adding a pool to your home may make your life more enjoyable, it may not add to the value and return you get on your home. Don’t over invest in an amenity that won’t give you the returns your looking for unless you’re prepared and know that you as a homeowner will truly enjoy the pool.


This Condo in Medway, MA recently sold for $435,000. This Townhouse style home was sold by Michelle Buras - WEICHERT, REALTORS® - Real Market.


3 Kingson Ln, Medway, MA 02053

Condo

$429,000
Price
$435,000
Sale Price

5
Rooms
2
Beds
2/1
Full/Half Baths
Move-In Ready/ End-Unit Townhome in a fantastic location with easy access to highways, shopping and entertainment. Quiet & very well-maintained townhome development. You will find sun-filled rooms w/ gorgeous oversized windows adorned by custom blinds making it so easy to filter the beautiful sunlight as you desire. With the flick of a switch, the gas fireplace illuminates the living & dining rooms; most will agree that the best part is no messy ashes to clean. First floor & 2nd-floor master ensuites. A 2nd-flr bonus room is perfect as home office, spare bedroom, game room etc. This kitchen is chock -full of cabinetry, counter space & stainless appliances & are included. Amazing closet space throughout this townhome. If you have storage space needs, then this home will check that box entirely. Large deck overlooks wooded yard. New Central Air units(2) & a New Gas HE Heating System. Privacy here is just like a single-family style home but no maintenance required. Highly desired schools!




If you’re planning on buying a home in the near future and are confused about many of the terms associated with mortgages, you’re not alone. Real estate is its own industry with its own set of processes, terms, and acronyms. If you’re new to the home buying process, there can be somewhat of a learning curve to understand what each of these terms means.

Since buying a home is such a huge investment and life decision, there’s a lot of pressure on home buyers to make sure they get everything right. This makes for a stressful situation for buyers who don’t feel like they understand the terminology of things like mortgages, appraisals, credit reports, and other factors that contribute to the home buying process.

To alleviate some of those concerns and to make the home buying process run more smoothly, we’ve compiled a list of the most common, and most commonly confused, real estate words, terms, and acronyms. That way, when you’re talking things over with your real estate agent or your mortgage lender, you’ll be confident that you understand exactly what’s being considered.


Read on for our real estate terminology glossary.

  • Adjustable rate mortgage (ARM) - This is one type of home loan. Mortgage rates with this type of loan fluctuate throughout the repayment term of the loan. The fluctuation is based on a market indicator.

  • Fixed rate mortgage (FRM) - Another type of home loan, a fixed rate mortgage has a rate which does not fluctuate, remaining constant for the life of the term, most commonly 15 or 30 years.

  • Appraisal - An appraisal is the determination of the value of a property. Appraisals are used when purchasing and selling a home, as well as when refinancing a home loan. Appraisers are required to be licensed or certified in each state and are usually paid for by the lender.

  • Appreciation - An increase in a property’s value, most commonly due to market inflation, or the general increase in home prices over time.

  • Depreciation - A decrease in a property’s value, due to either market deflation (uncommon) or the wear and tear on a home that comes with age.

  • Closing costs - The costs and fees that a buyer is responsible for when purchasing a home or taking out a mortgage. These include underwriting fees, inspections, appraisals, transfer taxes, and more. Closing costs typically range from 2% to 5% of the total loan amount.

  • Contingency - Home purchases have contracts to protect the interest of the buyer, seller, and lender. Contingencies are provisions designed to protect the buyer or lender should something occur in the time leading up to closing on (or purchasing) the home. One common contingency is the buyer’s right to have a final inspection of the home before closing to ensure no new issues with the home have occurred.

  • Private mortgage insurance (PMI) - Buyers who cannot afford a down payment of %20 typically are required to take out a private mortgage insurance policy. This policy protects the lender should the borrower default (fail to repay or meet the conditions of their loan).




This Condo in Worcester, MA recently sold for $234,500. This Townhouse style home was sold by Michelle Buras - WEICHERT, REALTORS® - Real Market.


33 Candlewood Place, Worcester, MA 01606

Condo

$234,500
Price
$234,500
Sale Price

6
Rooms
3
Beds
1/2
Full/Half Baths
Quabbin Estates! This unique 3 bedroom end unit townhouse is move-in ready, updates include newly painted room(s),kitchen upgraded with granite,new sink & faucet,updated electric panel box, updated windows. Floor plan is open and sun-filled with an eat-in kitchen, 1/2 bath,garage conversion which now lends itself to a great storage area and a 1st floor office/family room or dining area offering additional 1st floor living space, the large living room offers shining hardwoods, a lovely fireplace with decorative mantel, sliders to the outside patio and rolling lawn and woods for that feeling of privacy. The second floor has two spacious bedrooms and closets with a Hollywood bath between the two which offers 2 commodes 3 sinks and an updated full bath/shower, built in bookcases in one bedroom and the third floor offers a great nesting place great for bedroom or studio/office. Pet friendly complex,all units owner occupied, pool and tennis,access to highways,umass,location plus....

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It’s a difficult time to be a first-time home buyer. Post-recession buyers are wary--and for good reason--of how and when to save money for a down payment on a house. One thing to remember, however, is that it’s always a good time to start saving.

In this article, we’re going to cover the four most useful methods of saving for a down payment on your first home. That way you can feel confident in taking the first and most important step toward homeownership.

Choosing the right savings account


Unlike riskier investments, a savings account is a safe and proven way of building interest and saving for a home. However, not all savings accounts are created equal.

Typically, brick and mortar banks offer interest rates that are low--the current national average is only about 0.06% annually. While these banks offer conveniences such as in-network ATMs and check-cashing, their physical locations make them expensive to run.

Enter the online bank. Since online banks don’t have all of the costs associated with running branches, they can afford to offer better rewards--namely, high-interest returns on your savings accounts.

So, should you take all of your money out of your current savings account and transfer it to an online bank? Maybe. But let’s talk about the benefits of having multiple savings accounts.

Open a dedicated account with automatic deposits

Saving isn’t just difficult due to financial reasons. Managing money also takes time and effort. To simplify this process, it’s preferable to direct deposit or automatically transfer a percentage of your weekly income into your down payment savings account.

While it may seem like pinching pennies at first, even small weekly deposits add up, and within a few years the compounding interest can earn you enough for a higher down payment than you thought possible.

Prioritize high-interest debt now

Have student debt or a car loan that’s keeping you from focusing on saving for a down payment? Oftentimes the best coarse of action is to aggressively pay off high-interest loans. In the long term, this will save you money that can then be used toward a down payment.

For debt that will take several years to pay off, consider refinancing for a lower interest rate, or consolidating your student loans. Speaking with a student loan adviser or financial planner is a good first step to take toward managing your debt.

Make a real budget

Most of us think of a verb when we hear the word “budget.” However, it’s more useful as a noun.

Creating a real budget, whether it’s in Excel, Google Sheets, or with the help of an app, having a budget you can refer to once a week is vital to making good savings decisions. It will help you monitor your spending and stay on top of your savings goals.




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