Buying your first home on the North Shore of Massachusetts is such an exciting journey! As you dive into the local real estate market it is essential to have proper knowledge and preparation to make the most informed decisions possible when searching for your dream home. This guide to buying your first North Shore home will provide a few tips to get you started.
Know your communities and neighborhoods
The North Shore has a lot to offer with its many different communities and neighborhoods, each having their own unique charm and character. From urban to coastal communities, the region offers something for everyone’s lifestyle preference. Take the time to research and explore different towns, cities, and neighborhoods, considering factors such as schools, amenities, transportation, recreation, and community services.
When considering the North Shore, take a look at the amazing beaches, highly-rated schools, and modes of transportation. Understanding the detailed features of each neighborhood will help you find the perfect place to call home.
Get a pre-approval
Before beginning your home search process, it’s crucial to obtain a pre-approval from a reputable mortgage lender. This will give you a clear understanding of your budget, enabling you to focus on properties within your financial reach and avoiding unrealistic expectations. It also improves your credibility with sellers, increasing your chances and expediting the process of closing on your dream home. Consult with a professional to gather the necessary documents and choose a reputable lender before the property search truly begins.
Keep taxes in mind
When buying a home, it is important to take taxes into consideration, as they vary by region and town. On the North Shore in particular, taxes can be on the higher end but can differ greatly by city. Do thorough research and understand each town’s tax rates to help properly factor property taxes into your budget calculations. To make a financially healthy decision, consider the long-term implications of taxes and how they will fit into your overall homeownership plans.
Get an inspection
A professional home inspection is a vital step in the home buying process, regardless of location. Homes on the North Shore are older, making it even more important to identify any problems ahead of purchase. A qualified home inspector will thoroughly assess the condition of the property and identify any potential issues or necessary repairs. The information gained from inspection can be used to negotiate repairs and/or price adjustments during the buying process. Additionally, accompanying the inspector during the inspection will give you a deeper understanding of the home’s systems and any maintenance requirements.
In the current real estate market many buyers are choosing to waive the home inspection in hopes of getting ahead of the competition, but the inspection is essential for buyers who want to purchase a home with complete confidence. I would always recommend a home inspection if you are interested in a house, as it can keep your investment safe and put an end to your anxieties before they may even arise.
Know the benefits of each town
The North Shore is home to many wonderful towns with many benefits for residents. Dive into details, visit, and experience each place firsthand to help make your decision. Check out some of these benefits:
- Gloucester beach sticker
- Ipswich beach and fishing sticker
- Salem history, restaurants, bars, and culture
- Marblehead beach and transfer station sticker
- Beverly/ West Beach Beach Sticker
For more details, check out my local guides!
If you’re looking to buy or sell a home on the North Shore, contact me today!