The Norton Group, Inc.



Posted by The Norton Group, Inc. on 7/28/2019

These days, homeowners are very busy renovating and improving their property, according to a HomeAdvisor survey. The homeowners who participated in that survey admitted they had spent an average of over $6,600 on repairs and improvements in 2018, and almost 50 percent of these homeowners were thinking about doing more renovations.

What is driving all this home improvement? Part of the reason is that a lot of potential buyers are buying places that need work as home prices are becoming so high. So, many people are remodeling rather than moving when they want more or better space.

Home renovations are a serious project. Many individuals renovate to update and upgrade their homes as well as increase property values. There are many ways you can pay for home repairs. Below you will find the three smartest ways to cover those costs.

1. Saved-up Cash

This option can be effective if you have a separate emergency fund saved and can save what you need before renovations become critical.

If you had saved up enough cash, you probably would not be reading this post as you are here to know how you finance your home repairs with your available funds! But still, the best way to pay for a home renovation is with the cash you've saved over the years so that you can keep your total debt at the lowest level. 

Of course, your patience can wear down when you see your core rooms like the kitchen and the bathroom going down the drain. You know waiting until you have cash is not realistic at all as you should not delay critical repairs for a long time. If you neglect a leaky roof, it might turn into a bigger and more expensive problem.

However, if you are not sure how critical a repair is, especially for something like the roof or anything structural, consult a real estate professional such as a licensed a home inspector.

2. Home Improvement Loan

If you do not have enough cash in your savings to fund your renovation project, there is still hope; you can get a personal home improvement loan. This option allows you to secure loan money without putting your house at risk. If you go for an unsecured personal loan, you will probably get more than you can on a credit card. 

However, pay attention: it is more sustainable not to borrow more than you need for your repairs. No matter how much you borrow, make absolutely sure that you know the amount of your overall monthly payments.

3. Home Equity Line of Credit

Using home equity is a viable option if you have at least 20 percent equity in your home and do not need over $25,000 as well as want to make a series of smaller home improvements.

The HELOC or home equity line of credit works in the same way as a credit card. You do not have to borrow and pay interest on the complete sum all at once. Instead, you borrow and pay as you go. With this arrangement, this option makes a HELOC an excellent choice for not-too-large renovations or a series of small home improvements.

Wrapping Up…Home repairs and renovations can be expensive to handle, but there are many ways to pay for them. So, you should plan your budget before embarking on a home renovation project as the cost of most repair works can increase considerably.




Categories: Uncategorized  


Posted by The Norton Group, Inc. on 6/23/2019

If you are planning to buy or sell a home soon, it is essential you know whether it is a buyer’s or seller’s market. But how do you determine that? 

Buyer’s Market

A buyer’s market is a situation where the supply of houses is higher than its demand, giving buyers an edge over the sellers in price negotiation. It is equally a situation where the available homes for sale exceed the number of buyers looking to buy homes. If you are considering buying a new home, then a buyer’s market is the right place to start as it is the perfect time to make that result-oriented moves. You might be able to buy a high-end property at a discounted price than you would buy in a seller’s market.

On the other hand, trying to sell your home on the buyer’s market will make your property languish in the market for an extended period of time before you can get a buyer as a result of a large pool of available homes in the market. Too much supply will cause you to reduce the listing price or offer some discounts to secure a buyer.

Seller’s Market

A seller’s market is also a situation where the demand for houses is greater than the supply. This means that there are too many buyers looking to purchase homes which are less than the available homes on the market. Invariably, there would be many buyers chasing after a few houses, which causes rivalry or price war among bidders.

A seller’s market is a place to sell your property as you could get a selling price that is bigger than your listing price since more people are looking to buy homes. Better still, you could secure a sales price that is higher - that is the bottom line.

Here, the seller has all the advantages over you if you are buying a property in the seller’s market. If other buyers are interested in the property you are bidding to buy, you might not succeed getting it at a lower price. You could even lose the opportunity of purchasing the property if another bidder offers a premium.

As a result of this singular reason, seller’s market is sometimes referred to as renter’s markets. Thus, prospective buyers will keep on renting until they save enough money that is larger than the down payment, then they can compete with other buyers in the market.

Different Markets, One Professional

Whether it is a seller’s or buyer’s market, a local real estate agent can assist you by bringing a plan for securing the best transaction. If you are buying a property, they will know the right amount of money you have to offer in order to compete favorably with other home buyers. Likewise, if you are selling, they will know exactly what price to ask for.Working with a trusted agent - who will not push you to offer what you are not prepared to, or rush you into making a hasty decision - is the key to getting the best deal in any of these markets.




Categories: Uncategorized  


Posted by The Norton Group, Inc. on 1/2/2019


10 Allen Court, Somerville, MA 02143

Condo

$950,000
Price

5
Rooms
2
Beds
2/1
Full/Half Baths
Large expansive open Living/Dinning and Large kitchen area, lots of cabinets and stone quartz counter, stainless steel appliances, lots of cabinets, half baths and utility room, plenty of light, facing east. upper level has 2-large bedrooms with full baths, lots of closets and storage in unit. All new quality construction, top two units are townhouse style, 3&4th floors, large space. Great location, minutes to Harvard/Union/Porter and Inman, right smack in the middle.
Open House
No scheduled Open Houses

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Tags: Real estate   Condo   Somerville   02143  
Categories: New Homes  


Posted by The Norton Group, Inc. on 12/28/2018


19 Summit Road, Medford, MA 02155

Single-Family

$888,000
Price

7
Rooms
3
Beds
2
Baths
Custom home built in 1978, Dutch Gambrel Looks are deceiving, this home has lots of sunlight, cathedral ceilings, large older but nice kitchen fully applianced, with huge island, dining area. Small office leads to beautiful deck overlooking Boston. Three Bedrooms with 1.5 baths, some wood plank flooring,tiled flooring, with wall to wall carpet on 2nd level. Large walled fireplace in open living, entertaining area, panels of windows with another view. Lots of rustic charm and thought was put into this home when built. Again looks deceiving, this home is much larger than it looks. Basement has over 11 foot ceiling, large fireplace and brand new heating unit. Located in one of Medford's exclusive neighborhoods, priced to sell won't last! FIRST showing OH 12/30, 1 pm to 2:30pm & again Wed. Jan. 2, 5:30 to 7pm. All offers in by Thursday Jan. 3rd by 7p.m. EMAILED to listing agent.
Open House
Sunday
December 30 at 1:00 PM to 2:30 PM
More Open Houses
Cannot make the Open Houses?
Location: 19 Summit Road, Medford, MA 02155    Get Directions

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Categories: Open House  


Posted by The Norton Group, Inc. on 12/25/2018


19 Summit Road, Medford, MA 02155

Single-Family

$888,000
Price

7
Rooms
3
Beds
2
Baths
Custom home built in 1978, Dutch Gambrel Looks are deceiving, this home has lots of sunlight, cathedral ceilings, large older but nice kitchen fully applianced, with huge island, dining area. Small office leads to beautiful deck overlooking Boston. Three Bedrooms with 1.5 baths, some wood plank flooring,tiled flooring, with wall to wall carpet on 2nd level. Large walled fireplace in open living, entertaining area, panels of windows with another view. Lots of rustic charm and thought was put into this home when built. Again looks deceiving, this home is much larger than it looks. Basement has over 11 foot ceiling, large fireplace and brand new heating unit. Located in one of Medford's exclusive neighborhoods, priced to sell won't last, FIRST showing OH 12/30th 1:pm to 2:30pm & again Wed. Jan. 2nd 5:30 to 7pm. all offers in by Thursday Jan. 4th by 7p.m EMAILED TO listing agent.
Open House
Sunday
December 30 at 1:00 PM to 2:30 PM
More Open Houses
Cannot make the Open Houses?
Location: 19 Summit Road, Medford, MA 02155    Get Directions

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Categories: Open House