Maurice F. Reidy & Co. Since 1909, Worcester’s Oldest Continuously Operating Real Estate Brokerage


A home is one of the biggest purchases that an individual can make in his or her lifetime. It also may prove to be expensive, particularly for those who fail to plan ahead for the property buying journey.

There is no need to break your budget to acquire your dream residence. In fact, there are many quick, easy ways to guarantee you can keep you finances in check and avoid the risk of spending too much to purchase your ideal house.

Now, let's take a look at three tips to ensure you can buy a quality house at a budget-friendly price.

1. Get Pre-Approved for a Mortgage

You want to buy a home, but you still have no idea how much you can spend on a residence. Thankfully, if you get pre-approved for a mortgage, you can enter the real estate market with a budget in hand. As a result, you will know exactly how much you can spend on a house and can plan accordingly.

Banks and credit unions employ friendly, knowledgeable mortgage specialists who are happy to meet with you. These mortgage specialists can review your income, credit score and other relevant financial data. Then, they can provide you with mortgage options based on your finances.

2. Narrow Your Home Search

Although most people want to buy a mansion, it is important to establish realistic homebuying expectations. Because if you narrow your home search to properties that fall within your price range, you can speed up the property buying journey. Perhaps most important, you can shop around to find a terrific home that corresponds to your budget.

Don't forget to consider homes in a variety of cities and towns too. In some instances, it may prove to be more cost-effective to purchase a house in a small town than a residence in a big city.

3. Evaluate Your Short- and Long-Term Plans

Think about your short- and long-term plans, and you may be better equipped than ever before to map out your home finances for the foreseeable future.

For instance, if you plan to raise a family in the years to come, you may want to consider the costs associated with childcare and other child expenses. This will allow you to budget properly as you search for your dream home.

On the other hand, if you recently accepted a work promotion, your income soon may rise. In this situation, you may be able to increase your homebuying budget due to the fact that extra income will be coming your way.

Lastly, as you get ready to search for a house, you may want to hire a real estate agent. In addition to helping you find a home that matches your budget, a real estate agent will offer expert guidance throughout the property buying journey. He or she will help you prepare for a home inspection, closing and other important steps during the homebuying process. By doing so, a real estate agent will help you seamlessly navigate the homebuying journey and achieve the optimal results.


Believe it or not, your credit score can make a world of difference as you get ready to search for your ideal house. If you have an excellent credit score, you likely will have no trouble obtaining home financing. On the other hand, if you have a bad credit score, you may struggle to get the financing you need to make your homeownership dream come true.

Ultimately, there are many reasons why you should try to boost your credit score before you purchase a home, and these include:

1. You can simplify the homebuying process.

Purchasing a home can be challenging, particularly for property buyers who fail to get pre-approved for financing. Luckily, if you request copies of your credit reports, you can find out your credit score and identify ways to improve it. Perhaps most important, you can explore ways to bolster your credit score before you submit a mortgage application and increase the likelihood that you can receive pre-approval for a mortgage.

It usually is a good idea to review your credit reports before you enter the housing market. You are entitled to a free copy of your credit report annually from each of the three reporting bureaus (Equifax, Experian and TransUnion). If you request a copy of your credit report from the three reporting bureaus, you can learn your credit score and plan accordingly.

2. You may qualify for a low interest rate on a mortgage.

An excellent credit score may help you get a low interest rate on a mortgage. Thus, if you have an excellent credit score, you may wind up reducing your monthly mortgage payments.

Of course, a low interest rate on a mortgage may allow you to invest in your home as well. If you use the money that you save on your mortgage to complete home improvements, you could upgrade your residence and increase its value over time.

3. You can select the right mortgage option based on your individual needs.

With an outstanding credit score, there likely will be no shortage of lenders that are willing to work with you. As such, you can review a broad range of mortgage options and choose one that matches your expectations.

If you need to improve your credit score, there's no need to worry. Typically, paying off outstanding debt will help you boost your credit score prior to buying a house.

Furthermore, if you receive a credit report and identify errors on it, contact the bureau that provided the report. This will enable you to make any corrections right away.

And if you need help as you get ready to pursue your dream house, don't hesitate to reach out to a real estate agent too. A real estate agent can put you in touch with the top lenders in your area and make it easy to obtain home financing. Plus, this housing market professional will enable you to evaluate residences in your preferred cities and towns and find one that you can enjoy for an extended period of time.


As a homebuyer, entering the real estate market with insights into what it takes to find the perfect house is essential.

Becoming an expert homebuyer, however, may seem impossible at times. Lucky for you, we're here to help you gain the knowledge and skills you need to make your homeownership dreams come true.

What does it take to become an expert homebuyer? Here are three tips to help you do just that.

1. Look at Real Estate Market Trends

The housing market ebbs and flows. Therefore, a seller's market today may transform into a buyer's market tomorrow.

Ultimately, the real estate market fluctuates constantly, and you'll want to learn as much as possible about the housing sector to ensure you can map out your homebuying journey accordingly.

In a buyer's market, there are usually more home sellers than buyers. This means homebuyers may be better equipped than ever before to secure a top-notch house at a budget-friendly price.

On the other hand, a seller's market features an abundance of homebuyers and a shortage of sellers. For homebuyers who operate in a seller's market, they may be forced to submit competitive offers on homes quickly, or risk missing out on a dream residence to a rival.

When you study the housing market, don't forget to check out the prices of residences that recently sold. By doing so, you can gain a better understanding of how much you'll likely need to pay to acquire a first-rate house based on the current state of the housing market.

2. Learn How a Mortgage Works

What differentiates a fixed-rate mortgage from an adjustable-rate option? An expert homebuyer will know the ins and outs of assorted mortgage options and select one that corresponds to his or her finances.

To learn about mortgages and how they work, you'll want to meet with credit unions and banks. These lenders can describe the different types of mortgages and the pros and cons associated with them.

Also, an expert homebuyer will get pre-approved for a mortgage. With a mortgage in hand, this homebuyer will be able to stick to a price range as he or she searches for the ideal home.

3. Collaborate with a Real Estate Agent

Let's face it – no homebuyer can afford to make mistakes. Fortunately, you can work with a real estate agent to receive expert guidance as you navigate the homebuying journey.

A real estate agent boasts the skills and know-how needed to streamline the homebuying process. He or she may have many years of housing market experience and is happy to teach you about the opportunities and challenges associated with buying a house.

Furthermore, a real estate agent will help you accelerate the homebuying cycle. He or she can set up home showings, negotiate with home sellers on your behalf and much more. That way, you can focus on what's important – finding a terrific house at an affordable price.

Take advantage of the aforementioned tips, and you can become an expert homebuyer.


An open house may prove to be exceedingly important, particularly for a buyer who plans ahead and makes the most of this opportunity. Because if a buyer enters an open house with a plan in hand, he or she can gain the necessary insights to determine whether to set up a home showing or consider other residences.

Now, let's take a look at three things that every buyer needs to know about open houses.

1. Open houses generally take place on weekends.

If you plan to pursue a home in the near future, you may want to keep your weekends open. That way, you can attend as many open houses as possible and boost the likelihood of discovering your ideal residence.

Most open houses are held on Saturdays and Sundays, and these events may begin late in the morning and end late in the afternoon. There is no requirement to attend an open house as soon as it begins. However, it is important to remember that the early bird catches the worm. And the sooner you attend an open house, the sooner you can determine whether a residence is right for you.

2. Each open house is designed to provide a stress-free experience.

During an open house, you can walk around a residence and explore all aspects of a home at your own pace. Meanwhile, a seller's real estate agent is present and can respond to your concerns or questions as well.

Oftentimes, it helps to craft a list of questions prior to an open house. This will enable you to receive immediate responses to your queries from a seller's real estate agent.

You also may want to carry a notepad and pencil with you as you walk through an open house. This will allow you to keep track of any notable home features or flaws, and ultimately, weigh the pros and cons of a residence.

3. An open house provides no guarantees.

There is no guarantee that you'll find your dream residence during the first open house you attend. In fact, you may need to attend dozens of open house events before you discover a home that matches or exceeds your expectations.

As a buyer, there is no need to leave anything to chance as you search for your ideal house. And if you collaborate with a real estate agent, you can stay up to date about open house events for residences that correspond to your homebuying criteria.

A real estate agent is a property buying expert and will do everything possible to help you discover your dream house. In addition to keeping you informed about open house events, a real estate agent will set up home showings and offer homebuying recommendations and suggestions. By doing so, a real estate agent will help you achieve the best-possible results during the property buying journey.

Hire a local real estate agent today, and you can take the first step to find and buy your dream house.


If you intend to find your dream house, it helps to establish a homebuying strategy. That way, you can enter the real estate market with a plan in place to accomplish your desired goals.

Now, let's take a look at three tips to help you craft an effective homebuying strategy.

1. Create Homebuying Criteria

If you know where you want to reside, you can narrow your house search. As a result, you may be better equipped than other buyers to accelerate the homebuying journey.

Creating a list of home must-haves and wants usually is a great starting point for homebuyers. This list typically forces homebuyers to think about what separates an ordinary residence from a dream house. And once a homebuyer crafts a list of home must-haves and wants, this buyer can search for residences that meet his or her expectations.

2. Budget for a Home

In most instances, homebuyers lack the necessary financing to buy a house. Luckily, lenders are available that can help a homebuyer assess mortgage options and get pre-approved for home financing.

Budgeting for a home is a major part of the homebuying process. Because if you know exactly how much you can spend on a residence, you could speed up your house search.

To get pre-approved for a mortgage, you should meet with a variety of banks and credit unions. Then, when you find the right mortgage, you can enter the real estate market with a budget at your disposal.

3. Hire a Real Estate Agent

There is no requirement to hire a real estate agent before you pursue your dream house. Yet the advantages of hiring a real estate agent can be significant, and perhaps it is easy to understand why.

For homebuyers, a real estate agent takes the guesswork out of finding the right house at the right price. A real estate agent also collaborates with a homebuyer and will go above and beyond the call of duty to ensure a buyer can achieve the optimal results.

If you want to purchase a house as quickly as possible, it may be a good idea to hire a real estate agent sooner rather than later. Oftentimes, a real estate agent will meet with you and learn about your homebuying aspirations. He or she next will work with you to craft a homebuying strategy and launch a successful house search.

Furthermore, a real estate agent is a housing market expert who will help you overcome any potential homebuying hurdles. A real estate agent understands the challenges associated with purchasing a house and will help you identify and address such issues before they escalate. And if you ever have concerns or questions as you search for your ideal residence, a real estate agent will respond to them.

Enter the real estate market with a plan in hand – take advantage of the aforementioned tips, and you can create an effective strategy to streamline your search for your dream residence.




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