Owning a home is one of the important hallmarks of building a family. Whether you are saving for your first starter home or upsizing to accommodate a growing family, choosing the right home is essential to your family’s well-being. To this end, you will need to do some personalized planning based on your current family size, future plans, and long-term real estate goals. Consider the following tips to steer your family’s search for the perfect Cambridge home.
1. Choose your geographical area
Your home search will start with choosing an area where you’d like to live. If you are moving to a new city, be sure to have a real estate agent on your side who can give you a feel for the amenities and points of interest in the area in which you are looking.
For instance, if you are interested in moving to the Boston area, you have so many notable residential neighborhoods to choose from. Living in Cambridge, you can enjoy a close-knit atmosphere with big-city amenities within easy reach. A local real estate agent can give you the lay of the land in your preferred area and connect you with a home and neighborhood you’ll be happy with.
2. Consider the neighborhood and local schools
An integral part of considering your ideal home is choosing the kind of neighborhood in which you would like to live. Some areas are primarily residential, while others are right in the heart of all the action. When considering the community, be sure to research the distance from your work and your children’s school.
Beyond these factors, neighborhoods simply have different aesthetics and atmospheres depending on their history, architecture, and various other factors. Talk to your real estate agent about the neighborhoods in your area to determine which one is best for you and your family.
3. Determine your preferred home style
Homes come in a variety of sizes and architectural designs. If you have only ever lived in a single-family home, don’t overlook the value that a townhouse or condominium may provide. These properties often come with additional community amenities that your kids might enjoy, such as pools or playgrounds. While you may already have a firm idea of the type of home you prefer, talk to your real estate agent for more ideas and inspiration.
4. Get preapproved for a mortgage
Financial planning will be an integral part of your home search. Getting a mortgage preapproval will give you an idea of the home that you can afford, given your finances and current mortgage rates. This will assist you in filtering through properties, as you will know which homes fit squarely within your budget. If you focus on Cambridge homes that are listed slightly below the amount of your mortgage preapproval, you will have excellent odds of putting in a winning offer, getting a mortgage, and becoming the proud new owner.
5. Choose the right size for your home
It goes without saying that your home needs to be big enough for all your family members. However, determining the size that your home needs to be is slightly more complicated if your family is growing and changing, as most families are.
For instance, perhaps you plan on having more kids. Alternatively, you may have kids that are about to move away to college, and you may or may not want to leave bedrooms set up for them. Even further, your family members may simply need more space than they currently have.
All of these factors need to be considered in light of your goals for home ownership. You might want to choose a home with room to grow, and you can convert some extra bedrooms into a guest room or office if needed in the future. Focus on homes that can adapt with you as your family grows and changes over time.
6. Don’t wait for the market to be perfect
Buying a home is a considerable investment, so it is only natural for some home buyers to be tempted to wait for the perfect price and mortgage rate combination. When you see average home prices fluctuating by tens of thousands of dollars and mortgage rates fluctuating by multiple percentage points within the same year, it becomes evident that the same property could cost significantly more or less depending on current market conditions. Thus, many real estate seekers are waiting for the stars to align.
With that said, the problem with this mentality is that the market is not predictable. While prices are declining, rates could be increasing, or vice versa. Inventory levels also fluctuate. While homes are going up and down in price, properties are also becoming more or less available depending on market conditions.
If a home seems perfect for your family, the timing is right, and you can afford to buy it, then you are ready to move. Don’t wait for the perfect market conditions; instead, rely on the expert guidance of a Cambridge real estate agent who can connect you with outstanding properties that fit your goals. In short, your readiness to purchase a home depends more on your personal circumstances than on market conditions.
7. Tour multiple homes
While you may be tempted to snatch up the first home that truly strikes you, it is generally a good idea to shop around. Go to open houses, schedule private showings, take pictures, and write things down. By doing some due diligence in your home search, you will be able to find a property that best accommodates your particular needs and interests.
8. Work with a leading local agent
Are you hoping to learn more about Cambridge, Massachusetts, real estate? If you have your heart set on living in Cambridge, get in touch with a qualified local agent to find a property that checks all the boxes.
Scarlett Tamburro is a highly skilled luxury agent with top-notch insight into Belmont, South End, Beacon Hill, and Cambridge real estate. Check out Scarlett’s current listings for a preview of what you can expect in the gorgeous properties in the Boston area. Contact Scarlett Tamburro today to find the right home for your family.
*Header photo courtesy of Pexels
