Joseph Duggan | Malden Real Estate, Medford Real Estate, Melrose Real Estate


As a homebuyer, it is easy to envision finding the perfect house, submitting an offer on it and acquiring it right away. However, it is important for buyers to consider the worst-case scenarios as well.

A buyer who understands the worst-case scenarios that he or she may encounter during the homebuying journey can plan accordingly. That way, this buyer will be better equipped than others to avoid various homebuying worst-case scenarios altogether.

Now, let's take a look at three common homebuying worst-case scenarios, as well as how buyers can avoid these situations.

1. You find your dream home, but it falls outside your price range.

If you enter the housing market without a mortgage in hand, you may need to act quickly to acquire the necessary financing to purchase your dream house. But once you kick off a search for a mortgage, you may find that the cost to acquire your dream home falls outside your budget.

When it comes to getting home financing, it often helps to be proactive. Fortunately, if you meet with banks and credit unions before you launch a home search, you can determine exactly how much money you can spend on a residence.

Banks and credit unions employ friendly, knowledgeable mortgage professionals. With these mortgage experts at your side, you should have no trouble getting pre-approved for a mortgage at your convenience.

2. You discover a wide range of problems during a home inspection.

A home inspection likely will be completed in the days after a seller accepts your offer on a residence. And in some instances, an inspection may force you to reconsider whether you want to purchase a house.

If you encounter problems during a home inspection, you still have lots of options. You can ask a seller to perform assorted home repairs or reduce your offer. Or, you can walk away from a home sale and restart your home search.

For homebuyers who are worried about any problems that they encounter during a home inspection, it is paramount to look closely at all of the aforementioned options. By doing so, you can make an informed decision about whether to proceed with a home purchase or reenter the housing market.

3. You employ a real estate agent who fails to help you achieve your homebuying goals.

Many real estate agents are available in cities and towns nationwide. But if you fail to conduct an extensive search for the right real estate agent, you may struggle to accomplish your homebuying goals.

When choosing a real estate agent, you should learn about this housing market professional's industry experience. It also helps to meet face-to-face with a real estate agent and discuss your homebuying goals with him or her. This will enable you to determine whether you're comfortable working with a particular real estate agent.

Enjoy a quick, stress-free homebuying experience – consider the aforementioned worst-case homebuying scenarios, and you can minimize the risk of potential pitfalls throughout the homebuying journey.


When you are ready to buy a house, it pays to plan ahead to conduct a successful house search. That way, you can quickly and effortlessly navigate the real estate market and make your homeownership dream come true in no time at all.

Ultimately, you don't need to be a real estate expert to navigate the housing market like a pro. To better understand what it takes to complete a successful house search, let's take a look at three tips to ensure you can seamlessly go from homebuyer to homeowner.

1. Create Homebuying Criteria

If you plan to purchase a house in the foreseeable future, it helps to establish homebuying criteria. By doing so, you can enter the real estate market with a plan.

Think about where you want to reside. For example, if your goal is to live in the same small town as your family members and friends, you may want to hone your house search to properties in this town. Or, if you want to own a house that is close to your office in the city, you may want to pursue residences in or around the city itself.

Consider what differentiates your dream house from an ordinary home too. Thus, if you want to own a home that boasts an in-ground pool, dazzling garden or other distinct features, you should include these criteria in your homebuying strategy.

2. Get Pre-Approved for Home Financing

Lenders can help you get pre-approved for a mortgage prior to launching a home search. Then, you can establish a budget for the homebuying journey.

There is no shortage of mortgage options available, regardless of your credit score, income and outstanding debt. If you meet with banks and credit unions, you can learn about different mortgage options and select a mortgage that is sure to serve you well.

Of course, when you meet with lenders, don't hesitate to ask questions. Lenders employ friendly, knowledgeable mortgage specialists, and these professionals are happy to help you make an informed mortgage selection.

3. Hire a Real Estate Agent

A real estate agent can help you simplify your home search. In fact, with a real estate agent at your side, you can boost the likelihood of finding a terrific house at a budget-friendly price.

Generally, a real estate agent understands what it takes to pursue a home in any city or town, at any time. If you employ a real estate agent, you can get the help you need to accelerate your quest for your dream residence.

A real estate agent usually learns about a homebuyer's goals and maps out a homebuying plan. He or she sets up home showings and keeps a homebuyer up to date about new residences that fit a buyer's criteria. And if a homebuyer wants to submit an offer to purchase a residence, a real estate agent will help this buyer craft a competitive proposal.

Ready to buy a house? Use the aforementioned tips, and you can streamline your search for your ideal residence.


Image by Karolina Grabowska from Pixabay

Buying a home is a huge investment and the buying process can be very confusing—especially if you’re buying your first home. However, buying a home doesn't have to be challenging. By understanding a few key tips, the whole home buying process can run smoothly and efficiently.

Understand Your Needs

Even before you start looking at houses to buy, you should clearly understand your needs. The last thing you would want to happen would be to regret your purchase decision down the road. That being said, it’s extremely vital to do a lot of homework before even browsing for your new home. Think about your budget, lifestyle, future plans and anything else that relates to buying a new residence. This new home is an investment that can be with you for a very long time; therefore, you must make educated decisions throughout the whole home buying process.

Have a Hefty Saving Fund Ready

When buying a home, it’s very smart to put down a solid down payment. Doing this can help to limit the amount of interest you’ll pay over time, including possible lower mortgage insurance. While many lenders will permit a low down payment, it’s a good idea to put down at least 20%. However, this can be a hefty fee. In fact, even a 5% down payment on a $200,000 home is still $10,000. That being said, you’ll need a big chunk of savings in order to have an appropriate down payment. Be sure to start saving early and don’t pull the trigger on buying a home if your savings isn’t sufficient.

Explore Down Payment and Mortgage Options

There are many stressful factors in the home buying process, but the money involved tends to be the most troubling aspect. However, by knowing the many options you have when it comes to the down payment and mortgage, you can rest easy knowing that you made great decisions when it comes to financing your home. If you’re trying to come up with a solid down payment, you may want to try these options:

  • Conventional mortgages
  • FHA loans
  • VA loans
  • Understand Your Budget

    Understanding the budget is where many home shoppers fail. They may find a home that they can afford, but they don’t account for the unfortunate instances that can happen during home ownership. Things like a broken dishwasher, plumbing issues or water damage are all situations that can happen, and many of these scenarios can cost a great deal of money. That being said, be sure to look at properties that cost less than what you’re approved for.

    Don’t Focus On Market Timing

    Many home shoppers will continue to monitor the real estate market until they feel like the market has tipped in their favor. While some believe this is a very effective tactic, it isn’t a very intuitive move. That’s because it's impossible to anticipate the housing market. Prices will go up or down at any time, and it’s extremely difficult to know what will happen on any given day. So when you find that perfect home, pull the trigger and go for it—no matter where the market stands.


    If you are preparing to buy a house in the foreseeable future, you'll want to check out lots of home listings. That way, you can browse dozens of residences at your convenience and boost your chances of finding a terrific house.

    Ultimately, there are several factors that homebuyers should consider as they evaluate house listings, and these factors are:

    1. A Home's Age and Condition

    A home's age and condition are key considerations for all homebuyers, at all times. If you assess a house's age and condition in a home listing, you may be better equipped than ever before to determine whether a residence is right for you.

    Oftentimes, a home seller will provide the year that a residence was built in a house listing. A seller also may include details about any home upgrades and when these were performed, such as the installation of a new roof or heating and cooling system.

    Study a house's age and condition closely – you'll be glad you did. If you evaluate these factors in a home listing, you can narrow your home search as needed.

    2. A Home's Price

    You know that you want to acquire a house, but you need to consider how you'll pay for a residence too. Fortunately, a home listing includes a house's price, ensuring you can find out whether a residence falls within your price range.

    If a house exceeds your price range, you may still want to check it out as well. Remember, the initial asking price of a house is not set in stone, and you may be able to negotiate with a home seller.

    For a buyer who reviews a house listing and is unsure about whether to pursue a residence based on its price, assistance is available. In fact, if you meet with local lenders, you can evaluate many mortgage options, get pre-approved for a mortgage and establish a homebuying budget.

    3. A Home's Location

    Think about whether you want to live in a city or town as you assess home listings. By doing so, you can perform a fast, efficient home search and increase the likelihood of discovering a house in your ideal city or town.

    Furthermore, it usually is a good idea to think about your day-to-day activities prior to looking at home listings. If you want to own a house that's close to your office in the city, you may want to review home listings for residences in or near the city itself. Comparatively, if you prefer small town living, you can examine home listings in small towns across the United States.

    If you need assistance during your home search, you may want to hire a real estate agent. This housing market professional can provide timely, accurate home listings for residences as soon as these houses become available. As a result, a real estate agent can make it easy for you to pursue many outstanding residences and find one that you can enjoy for years to come.


    The right time to purchase a home varies from person to person. Meanwhile, buying a house is one of the biggest decisions an individual may make in his or her lifetime. As such, it is important to weigh your options closely to determine if now if the right time to buy a house.

    There are several things you can do to get ready to pursue and buy your dream home. These include:

    1. Make a Plan

    Think about the steps you'll need to take to go from homebuyer to homeowner. Then, you can craft a plan to put these steps into action.

    Also, it often helps to create a list of homebuying criteria. This list will help you narrow your home search and speed up the process of finding your ideal residence.

    You should stay flexible as you conduct your home search too. The housing market fluctuates constantly, and if you maintain flexibility, you'll be ready to adjust your homebuying strategy as needed.

    2. Get Home Financing

    It usually is a good idea to get pre-approved for a mortgage. If you have a mortgage in hand, you'll know exactly how much you can spend on a home.

    Banks and credit unions are available to teach you about all of your mortgage options. Thus, meeting with these financial institutions will enable you to learn about different types of home financing and make an informed mortgage selection.

    Of course, you should not hesitate to ask home financing questions. Banks and credit unions employ courteous, knowledgeable mortgage specialists who are happy to respond to your queries. Therefore, if you are unsure about which mortgage option is right for you, these mortgage specialists can help you evaluate all of your options.

    3. Hire a Real Estate Agent

    A real estate agent offers expert guidance throughout the homebuying journey. He or she will help you find your dream home and submit a competitive offer to purchase it. Plus, a real estate agent will negotiate with a seller's agent on your behalf, help you prepare for a home closing and much more.

    In addition, a real estate agent can provide plenty of support during your house search. He or she first will help you craft an effective homebuying strategy and search for properties that meet your criteria. Next, a real estate agent will set up house showings and keep you informed about open house events in your preferred cities and towns. And if a seller accepts your offer to purchase his or her home, a real estate agent will help you set up a property inspection and finalize your house purchase.

    For those who are ready to purchase a home, it helps to be prepared. If you take advantage of the aforementioned tips, you can enter the real estate market as an informed property buyer. As a result, you may be better equipped than other homebuyers to enjoy a quick, successful property buying experience.




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