William Raveis Delta Realtors - Medfield, Massachusetts Experienced Realtors = results!


There are so many factors that go into finding and securing the financing to buy a home.   While lenders require quite a bit of information for you to get a loan, you still need to be aware of your own financial picture. Even if you’re pre-approved for a certain amount of money to buy a home, you still need to dig into your finances a bit deeper than a lender would. The bottom line is that you can't rely solely on a lender to tell you how much you can afford for a monthly payment on a home. Even if you’re approved to borrow the maximum amount of money for your finances to buy a home, it doesn’t mean that you actually should use that amount. There are so many other real world things that you need to consider outside of the basic numbers that are plugged into a mortgage formula.   


Run Your Own Numbers


It’s important to sit down and do your own budget when you’re getting ready to buy a home. You have plenty of monthly expenses including student loan debt, car payments, utility bills, and more. Don’t forget that you need to eat too! Think about what your lifestyle is like. How much do you spend on food? Do you go out to the movies often or spend a regular amount of cash on clothing? Even if you plan to make adjustments to these habits when buying a home, you’ll want to think honestly about all of your needs and spending habits before signing on to buy a home. 


Now, you’ll know what your true monthly costs are. Be sure to include things like home insurance, property taxes, monthly utilities, and any other personal monthly expenses in this budget. If you plan to put down a lower amount on the home, you’ll also need to include additional insurance costs like private mortgage insurance (PMI).


The magic number that you should remember when it comes to housing costs is 30%. This is the percentage of your monthly income that you should plan to spend on housing. Realistically, this could make your budget tight so this is often thought of as a maximum percentage. By law, a lender can’t approve a mortgage that would take up more than 35% of your monthly income. Some lenders have even stricter requirements such as not allowing a borrower to have a mortgage that would be more than 28% of monthly income. This is where the debt-to-income ratio comes into play.


As you can see, it’s important to take an earnest look at your finances to avoid larger money issues when you buy a home.  



This Single-Family in Scituate, MA recently sold for $540,000. This Cape style home was sold by Office Medfield - William Raveis Delta Realtors.


4 Summer St, Scituate, MA 02066

Single-Family

$550,000
Price
$540,000
Sale Price

9
Rooms
4
Beds
2
Baths
This West-end classic is new to the market for the first time in over 75 years. There have been updates over time that have served to enhance the charm and character of this antique cape, most notably in the kitchen and upstairs bathroom. Many of the rooms have wood flooring with the downstairs floors being recently refinished to a gleaming shine. In the midst of substantially higher priced homes, this fine property comes with an entertainment sized deck complete with hot tub, and overlooking a beautifully private back yard with a newly installed 4 bedroom septic system. The rooms are spacious and well-proportioned and one of the parlor rooms, with direct access to a full bath, would work well with someone in need of one-level living. A first floor laundry center, a 2-Car attached garage, and a location convenient to shopping and commuting options to Boston help contribute to making this one of Scituate's best values. The home is being sold as is with no warranties or representations.

Similar Properties




71 Myrtle Street, Norfolk, MA 02056

Single-Family

$799,000
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
Nearing completion, this quality NEW CONSTRUCTION home is situated on a beautiful 1.3 acre level lot! Granite kitchen featuring center island and pantry closets opens to the family room with gas fireplace. Flexible floor plan with office or den on the first floor. Front to back master suite with sitting area and two walk-in closets. Spacious master bath with double sink vanity and walk-in ceramic tile shower. Three generously sized bedrooms, family bath, and laundry complete the second floor. Additional features include open foyer, hardwood flooring throughout, gas heat and cook top, and two car attached insulated garage. Well established and trusted builder. Close to center of town and commuter rail. Interior painted; hardwood flooring installed on both floors, kitchen and baths complete, driveway and landscape are in. Ready for you to call home!!
Open House
Thursday
August 22 at 5:00 PM to 7:00 PM
Cannot make the Open Houses?
Location: 71 Myrtle Street, Norfolk, MA 02056    Get Directions

Similar Properties



This Single-Family in Holliston, MA recently sold for $440,000. This Ranch style home was sold by Office Medfield - William Raveis Delta Realtors.


31 Wingate Road, Holliston, MA 01746

Single-Family

$440,000
Price
$440,000
Sale Price

7
Rooms
3
Beds
2
Baths
This lovely three bedroom home offers an open floor plan and is picture perfect and move-in ready! The center of the home features a beautiful gourmet kitchen with a large skylight, granite counters and high end appliances. The dining area, adjacent to the kitchen, has hardwood floors and leads to a lovely step down den/summer room with a slider leading outside to a new composite deck. The step down living room has palladium windows, tasteful w/w carpeting (with hardwood underneath) and built-in. Past the entryway is a full designer bath with skylight, oversized linen closet and three bedrooms. The master with full en suite has large closet space and offers a peaceful respite from the day's activities. Updates include composite deck, tankless hot water, 200 amp electric, newer roof & windows. This home sits on a well groomed level lot in a popular area close to shopping,dining and major commuter routes. Nothing to do but move right in & enjoy!

Similar Properties




10 Pleasant Ct, Medfield, MA 02052

Single-Family

$669,900
Price

7
Rooms
3
Beds
2/1
Full/Half Baths
Cul-de-sac location and only two blocks from downtown, this beautiful Cape was completely renovated in 2013. Perfect family home with an open floor plan, living room with fireplace, 3 bedrooms, and 2 1/2 baths. The granite and stainless kitchen features a dining area and opens to a large mudroom. First floor master suite with tile shower and walk-in closet. The spacious 2nd floor bedrooms are front to back and separated by a family bath. Finished family room/playroom in the lower level for the expanding family with plenty or storage in the unfinished area. Just in time for the summer months you will love entertaining on the huge backyard patio - grill kitchen with outdoor dining at the high top granite counter, built in fire pit to gather round and hot tub for your relaxation. You will still find plenty of grassy area in the totally fenced yard. Just minutes from in-town restaurants & shopping and Medfield high school & middle school - come and see what this awesome home has to offer
Open House
Saturday
August 24 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 10 Pleasant Ct, Medfield, MA 02052    Get Directions

Similar Properties