I know it’s fun to browse the internet for downtown Boston real estate, hit open houses here and there when you get the urge to dip your toes into the Boston real estate pool but if you rather cut to the chase and kick off a serious Back Bay home search that will produce results, I have a few tips for you.
Pre-Approved
There are a few key things you should do before you plot out your Sunday open house tour. Getting pre-approved for a loan is the number one priority, so you know what you can afford. Second, get your Boston real estate agent on board. He or she is going to be key with respect to guiding you so you don’t waste time in a number of ways.
Conversations
And then sit down for a comprehensive meeting with your Boston real estate agent to chat about your price point and what’s out there. I always back into what a buyer can afford. For example, if $1.5M is your limit, I provide a list of recent sales within that range so you can see exactly what type of property and neighborhood are realistic.
If you’re cool with what you can afford, you then need to structure your search so you’re leaving room for the appropriate level of overbidding. The market might be cooling off in places, but when it comes to, say, Beacon Hill, Back Bay, Midtown, Seaport and other good locations, you can still count on overbidding.
Placing an Offer
And along with price, it’s important to know how to structure a competitive offer once you’ve found a Beacon Hill home you love. Your agent should be able to guide you when it comes to contract contingencies and how you can craft the offer that wins over sellers.
Your agent should be able to tell you what properties are worth your time seeing, and also suggest a few out-of-the-box ideas or off-market opportunities along the way. Because you never know, for example, if that two-story condo in a great location with a private yard will surprisingly fulfill your dream of owning a Boston Midtown high rise condo
Bottom Line
Don’t hesitate to get in touch if you’d like to kick off the conversation. You can reach me, realtyford@yahoo.com or via cell/text 617-595-3712 and I will be able to use my experience and market knowledge to your advantage.
