Lorrie Parajeckas | Winchester Real Estate, Lexington Real Estate, Arlington Real Estate


Whether you've just moved into a new neighborhood or have lived there for decades, there are many advantages to maintaining friendly relations with neighbors.

If, on the other hand, you adopt more of an isolated lifestyle, then the experience of home ownership may be a lot less fulfilling.

Taking the time to have a friendly chat with your neighbors, once in a while, can produce both immediate and long-term advantages. While not everyone has a gregarious, outgoing personality, making the occasional effort to say hello can open the door to a variety of benefits.

Home Security: The best neighborhoods are those in which everyone looks out for one another. When you know your neighbors on a first-name basis, they'll be a lot more likely to keep an eye on your house and let you (or the police) know when they observe any suspicious activity. It's also nice to feel comfortable enough to be able to ask your neighbors to watch your property while you're away -- either for the weekend or when you're on vacation. Even in low-crime areas, burglaries and vandalism has been known to happen, so it's in everyone's best interest to know their neighbors and be ready to help. Although Neighborhood Watch groups are not active everywhere, there's no reason why people still can't be alert and responsive to loitering, trespassing, or other questionable activity.

Networking Benefits: You may not need a plumber, electrician, or a reasonably priced HVAC technician, right now, but sooner or later, you will -- guaranteed! There may also come a time when you need emergency child care or fast help jump-starting your vehicle. You're probably not going to approach your neighbors for help if you don't know them, but there's a good chance you will if you do have a rapport. By sharing information, resources, and recommendations with neighbors, you'll be paving the way for a mutually beneficial relationship. While you may or may not become best friends, it's nice to know that there's someone nearby you can count on for support and help.

Feeling of community: Although some neighborhoods have a more friendly, close-knit feeling than others, it's often easy to break the ice with neighbors when you're outside -- either doing yard work, walking your dog, or going for a stroll. By taking the initiative to welcome new people into the neighborhood, you'll not only have a positive impact on their lives, but you might even forge a new, long-term friendship. You can also make social connections by chatting with people at yard sales, block parties, or by joining and being active in neighborhood Facebook or Nextdoor groups. While it may feel easier to just keep to yourself and avoid venturing outside of your comfort zone, becoming part of a larger community in your neighborhood (and beyond) is often much more rewarding!



15 Royalston Ave, Winchester, MA 01890

Single-Family

$1,550,000
Price

10
Rooms
5
Beds
3/1
Full/Half Baths
This distinctive, updated colonial accents today's more casual lifestyle with a spacious, open floor plan, hardwood floors, and a kitchen you'll fall in love with - maple cabinets, granite counters, a huge island to seat 6+, & breakfast counter overlooking the fireplace living room. Immense dining room w/butler's pantry/2nd sink & dishwasher. The amenities continue with a 1/2 bath, 1st floor guest room, & office w/pocket doors to provide solitude from a busy household. The 2nd floor has 3 bedrooms, bath, huge laundry room, & a truly luxurious master suite w/large walk-in closet & cathedral ceilinged bath w/soaking tub, double sinks, make-up table, and large glass shower. The lower level has a huge mudroom off the 2 car garage, & large family room & bath. But wait, there's more – sliders from the kitchen lead out to a mahogany deck & a gorgeous built-in pool. A truly great Winchester home in which to live, to entertain, and to enjoy for many years to come! Muraco School!
Open House
Sunday
February 17 at 12:00 PM to 2:00 PM
Cannot make the Open Houses?
Location: 15 Royalston Ave, Winchester, MA 01890    Get Directions

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We all know that buying a home is a significant decision that comes with a great deal of financial planning and preparation. However, few of us are taught the ins and outs of actually obtaining a mortgage to make your dream of homeownership come true.

Mortgages are a complicated business that is always changing, both with fluctuations in market rates and with policy decisions.

But, if you’re hoping to buy a home in the near future, it’s important to understand all of your options when it comes to mortgages.

In today’s post, we’re going to address the 20% down payment myth, where that number comes from, and what your options are when it comes to applying for a mortgage.

Where does the 20% down payment number come from?

For most people, 20% of a house is a serious amount of money that would take years to save up. If you’re a first-time homebuyer and don’t have any equity to use from selling another house, 20% may seem like an impossible amount to save within the time you want to buy a home. Fortunately, there are several ways to buy a home without having 20% in cash saved up.

But first, let’s understand where that number comes from.

Most mortgage lenders will want to ensure that lending to you is a safe investment of their money. They want to know that they’ll earn back what they’re spending. To do this, they use several methods.

First, they’ll check your credit history to see how often you pay your bills in time. Then, they’ll want proof if your income and financial stability. Finally, they’ll ask for either a down payment or a guarantee that you will pay them back. Here’s where that 20% comes in.

If you don’t have 20% of the mortgage amount saved for a down payment, you will typically have to pay something called private mortgage insurance. This is an extra monthly fee, on top of your mortgage payments with interest, that you pay to ensure the lender that they’re seeing a return on their investment.

Most homeowners put much less than 20% down

If you’re feeling bad about the amount of money you have saved for a down payment, don’t be! In fact, most first-time homebuyers put, on average, just 6% down on their first home.

Since first-time homeowners don’t have the benefit of equity they’ve accumulated by making payments on their previous mortgage, they often have to come up with down payments out of pocket.

Other options besides a 20% down payment

There are several ways to secure a mortgage without putting 20% down on the home. First, check to see if you are eligible for any loans that are guaranteed by the government. These can come from the Department of Veterans Affairs (VA), or the USDA single-family home program.

The third option is to take on private mortgage insurance until you’ve paid 20% of your mortgage payment.

Private mortgage insurance can be paid to an insurance company or to the federal government in the case of FHA loans, you can put down as low as 3.5%.


Between these three options, you should be able to find a mortgage that you can afford and one that will give you the best possible financial stability in the long-term.


This Single-Family in Canton, MA recently sold for $385,000. This Colonial style home was sold by Lorrie Parajeckas - Compass Massachusetts, LLC.


Canton, MA 02021

Single-Family

$399,999
Price
$385,000
Sale Price

7
Rooms
3
Beds
2
Baths
Back on market buyers house sale contingency fell through! LOCATION, LOCATION, LOCATION!!!! New Listing in Canton that's a Commuters Dream!!!! Well Maintained Colonial with loads of CHARM & CHARACTER on Scenic Indian Lane. Some Of the Lovely features of This Home Include: A Gorgeous Cobblestone Floor to Ceiling Fireplace, Generous Size Living Room w/ Open Stair Case, Large Eat-In kitchen, Separate Formal Dining Area, 1st Floor Laundry, 3 Good Size Bedrooms, Lots Of Closet Space, 2 Updated Full Baths. Some of the Updates Throughout the years Include: Septic system, Roof, Windows, Electrical Service, Fixtures, Pergo Floors, & More. This Home also Sits on a Lovely Country Setting Lot w/ a Private Fenced In Back Yard, Come Make This Home Yours!!!!!!!

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15 Royalston Ave, Winchester, MA 01890

Single-Family

$1,550,000
Price

10
Rooms
5
Beds
3/1
Full/Half Baths
This distinctive, updated colonial accents today's more casual lifestyle with a spacious, open floor plan, hardwood floors, and a kitchen you'll fall in love with - maple cabinets, granite counters, a huge island to seat 6+, & breakfast counter overlooking the fireplace living room. Immense dining room w/butler's pantry/2nd sink & dishwasher. The amenities continue with a 1/2 bath, 1st floor guest room, & office w/pocket doors to provide solitude from a busy household. The 2nd floor has 3 bedrooms, bath, huge laundry room, & a truly luxurious master suite w/large walk-in closet & cathedral ceilinged bath w/soaking tub, double sinks, make-up table, and large glass shower. The lower level has a huge mudroom off the 2 car garage, & large family room & bath. But wait, there's more – sliders from the kitchen lead out to a mahogany deck & a gorgeous built-in pool. A truly great Winchester home in which to live, to entertain, and to enjoy for many years to come! Muraco School!
Open House
Sunday
February 10 at 12:00 PM to 2:00 PM
Cannot make the Open Houses?
Location: 15 Royalston Ave, Winchester, MA 01890    Get Directions

Similar Properties





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