Westford Real Estate | Westford Real MA Estate, Chelmsford Real MA Estate, Groton MA Real Estate


Buying your first home is a big endeavor, both financially and personally. Homeownership means taking on new responsibilities and bills, but it also means true financial independence.

If you’re hoping to buy a home in the near future, you might be wondering what you should be doing now to put yourself in the best position when it comes time to buy a home. Well, you’re in luck. Today’s post is a simplified list of all of the things you can be doing today to start making your way toward your ultimate goal of homeownership.

1. Pay off small debts

The first thing you’ll want to do to start saving for a down payment is to make sure you’re not pouring money down the drain to credit card companies for interest rates. If you owe small amounts of money (or less than $1,000), now is the time to aggressively pay down those debts.

The goal here is to get your credit cards to a place where you pay off your balance in full each month, avoiding interest while still earning rewards and building credit.

2. Speaking of credit…

One of the most important aspects of buying a home is your credit score. Take the time to learn about the 5 main things that contribute to your credit score and then work on ways to improve your score in those areas.

3. Don’t open any new accounts if you can help it

Once you start getting closer to applying for a mortgage, you won’t want any new inquiries on your account that are temporarily lowering your score. If you need to open a new account to lift your score, then do so well in advance of applying for a mortgage.

4. Get serious about saving for a down payment

There are a few ways to proactively save for your down payment; none of them include setting money aside when you feel like it. Start by opening a dedicated account and direct-depositing a portion of your pay into that account each week.

If you have an emergency fund in place, you might be in a position to use a CD or certificate of deposit. These give the highest earnings from interest out of any form of savings. The catch? You can’t withdraw from the account until you reach your savings goal without a penalty. If you know you won’t need to dip into these funds before they’ve matured, a CD is an excellent way to save.

5. Find out how much house you can afford

Homes are expensive. but, if it’s your first home, you might need to borrow the maximum amount form the bank to find a house that you’ll love. To find out what is a reasonable amount to spend on a home, you’ll need to consider your monthly mortgage, bills, taxes, insurance, and any other expenses. Leave yourself room for savings, emergencies, and to live a little. You won’t be able to enjoy your home much if you have to spend your days struggling to afford it.

6. Career planning is vital

A good career is a balance between stability and upward mobility. Don’t be afraid to be on the lookout for new positions with higher pay and better opportunities, even if you’re happy with your current job.

If you’ve been in your position for a while, consider asking for a raise. Research salaries for other people in your position and go to your boss equipped with data to show that show you deserve a raise.


This Single-Family in Littleton, MA recently sold for $704,500. This Colonial style home was sold by Office Westford - Westford Real Estate.


Lot 28 Edward Drive, Littleton, MA 01460

Single-Family

$689,900
Price
$704,500
Sale Price

8
Rooms
4
Beds
2/1
Full/Half Baths
Under construction; 60 days to close but still time to select the kitchen cabinets, counter tops, tile and carpet. 4 bedroom, 2 1/2 bath contemporary colonial with farmers porch in Littleton's newest neighborhood, Bennett Orchards. This stunning home sites on a 16,000+ square foot lot near the backside of the subdivision, close 19 acres of conservation land with walking trails to the rear. Expansive floor plan,1st floor features 9' ceilings on the 1st floor, Foyer w/ turned staircase, impressive family room with propane fireplace, large kitchen with island, breakfast area with slider to deck, Dining room with chair rail and crown molding. Master suite features a tray ceiling, sitting area and large walk in closets. The luxurious master bath comes with custom tile shower and whirlpool tub. 2nd Floor laundry room makes this a beautiful and functional home!

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19 Sculley Road, Ayer, MA 01432

Single-Family

$245,900
Price

5
Rooms
3
Beds
1
Baths
Why rent when you can own? Great one level starter home in need of some updating and fresh paint. The home features a large living room with masonry fireplace, picture window and hardwood flooring. The tiled kitchen offers ample cabinet space, electric stove and full sized refrigerator. The working kitchen area opens to a tiled dining area. There is a full bath with tub/shower and three good sized bedrooms. The full basement offers room for future finished space & laundry room. Some replacement windows have been installed. Electric heat. Town water & sewer. 200 AMP electrical service. Close to commuter rail. This property offers a great lot that would lend itself to a possible addition or garage.
Open House
No scheduled Open Houses

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When you’re buying or selling a home, you may hear the terms, “assessed value” and “market value.” There are few things that you should know about these terms. First, they cannot be used interchangeably. The assessed value is generally much less than the market value. If you’re buying a home, you probably would rather see the assessed value of the home as a price! If you’re selling, the same holds true for the market value of the home for you.


Market Value Is Used Differently Than Assessed Value


The market value is how much your home is worth on the market currently. The definition is exactly as the term sounds the home is looked at by an assessor and given a value. The assessed value is used to determine property taxes, among other things. As you can imagine, the assessed value can become a point of contention for many homeowners especially when it comes to paying their tax bills. Many homes end up being assessed at a higher price than their current value, bringing tax bills to higher levels. The market value is what the home will sell for when it is listed for sale.


Be careful when searching for a home to buy. Many sites list the assessed value along with the price of the home or estimated market value of the home. You don’t want to get these numbers confused when budgeting and searching for the perfect house. 


If you’re getting ready to sell your home, pay little attention to the assessed value of the home. That is not what your home will sell for. 


The market value is a good reason to hire a realtor to help you sell your home. Realtors are experts in finding the market values of homes. They will even do something called a CMA (comparative market analysis) for you to help you determine the right price for your home to sell at. This is where comparable properties in the area are examined for their selling prices and all the perks of your home and neighborhood are considered. The market value is determined by the price of the homes that have recently been sold in the area based on the location of the home and how close it is to certain amenities like schools, parks, and the probability of future construction. 


Finally, know that the market value and the appraised value of a home have a lot to do with how much a lender will give you to buy the property. Every home that is being bought must go through an appraisal, to protect the lender from overpaying for a home.    


Whether you’re buying or selling a home, knowing your value terms can really be a help in understanding the sweet spot for pricing a property  



This Single-Family in Littleton, MA recently sold for $660,000. This Colonial style home was sold by Office Westford - Westford Real Estate.


58 Spectacle Pond Rd, Littleton, MA 01460

Single-Family

$679,900
Price
$660,000
Sale Price

8
Rooms
3
Beds
2/1
Full/Half Baths
Lovingly maintained colonial with a beautifully landscaped, level, 40,006 SQ FT lot. Passing Title V in hand. The floor plan boasts an exquisite master suite with a massive walk in closet, luxurious master bathroom with custom tile shower with steam feature, bubble whirlpool tub and beautiful double bowl vanity. The other bedrooms are generous in size and the 2nd floor hall has a beautiful built in cabinet, and stairs that lead to the finished 3rd floor. The Gourmet kitchen has natural Cherry cabinets, granite tops, tile flooring and a spacious island. The rest of the first floor features hardwood floors, living room with a sunny bay window, family room with wood burning fireplace and a slider that leads to the patio and the 6 person hot tub! The finished basement is perfect for a play room or exercise room and really makes for great additional living space. The 2 car attached garage is heated and has a ceramic tile floor. This property has it all!

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