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.


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.


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.


Ready to negotiate the purchase of a new home? Ultimately, employing a real estate agent may help you avoid the stress and anxiety that is commonly associated with a homebuying negotiation.

There are many reasons to hire a real estate agent to handle a homebuying negotiation, including:

1. A real estate agent understands the art of negotiation.

A negotiation is a high-pressure situation, one that may be difficult to navigate on your own. Fortunately, a real estate agent understands what it takes to help a homebuyer get the best price for a house – without exception.

With a real estate agent at your side, you can receive support from an experienced negotiator.

A real estate agent possesses extensive skills and know-how, particularly when it comes to homebuying negotiations. This housing market expert will be able to negotiate with a home seller and ensure all parties are satisfied with the end results.

Furthermore, a real estate agent will dedicate the necessary time and resources to complete a successful homebuying negotiation. He or she will go the extra mile to negotiate with a home seller to help you acquire a home that matches or exceeds your expectations.

2. A real estate agent will keep you up to date at all times.

If you employ a real estate agent, it is important to know that this housing market professional will keep you informed throughout a homebuying negotiation. Lucky for you, a real estate agent will provide updates as you try to acquire your dream residence at a price that matches your budget.

A real estate agent acts as a liaison between you and a home seller. He or she will keep you up to date at each stage of a homebuying negotiation and will require your approval on any homebuying decisions.

Also, a real estate agent will provide suggestions during a homebuying negotiation. As a homebuyer, you always have the option to accept or reject this housing market professional's suggestions.

3. A real estate agent is unafraid to be honest with you.

Although a real estate agent will do everything possible to help you streamline a homebuying negotiation, he or she will provide honest, unbiased recommendations as well.

For example, if you want a home seller to drastically lower the price of a home after a property inspection, a real estate agent will handle your request. And if a home seller rejects your proposal, this housing market professional will provide you with feedback and help you map out your next step accordingly.

A real estate agent will be able to respond to any concerns or questions that you have during a homebuying negotiation too. As such, he or she can provide a valuable resource and offer homebuying insights that you may struggle to obtain elsewhere.

Don't let the complexities of a homebuying negotiation overwhelm you. Instead, collaborate with a real estate agent, and you can speed up the process of purchasing your ideal residence.


Many homebuyers face an interesting dilemma. On one hand, a broad array of houses is available nationwide, making it easy to find a great residence just about anywhere. Conversely, the housing market remains fierce, and a homebuyer who fails to submit the right offer at the right time may miss out on the opportunity to acquire his or her dream residence.

Ultimately, homebuyers must be ready to submit a fair offer on a house at any time. And even though you may be tempted to submit a proposal that exceeds a home seller's asking price to secure your ideal house, you should try to do everything you can to avoid overspending.

Lucky for you, we're here to teach you the ins and outs of making a reasonable offer on a home. Here are three tips to ensure you can avoid spending too much for a house.

1. Know What to Look for in Your Dream House

The definition of a "dream house" may vary from homebuyer to homebuyer. If you consider exactly what you'd like to find in your ideal home, you'll be able to browse the real estate market accordingly.

Although many great houses are readily available, it is important to keep in mind that no residence is perfect. As such, you should establish lists of must-haves and wants for your dream home and set realistic expectations. This will allow you to compare and contrast homes against your lists, find a residence that meets your expectations and remain calm, cool and collected as you prepare to submit an offer on a home.

2. Get a Mortgage in Advance

Homebuyers can get pre-approved for a mortgage and create a budget before they embark on a search for their dream home.

Getting pre-approved for a mortgage will require you to meet with banks and credit unions and assess all of the mortgage options at your disposal. In addition, lenders may be able to offer a variety of financing options based on your credit score, annual income and other economic factors.

With a mortgage in hand, you can explore the real estate market and find homes that fall within your price range. Therefore, if you get pre-approved for a mortgage, you may be better equipped to accelerate the homebuying process and avoid overspending on a house.

3. Choose the Right Real Estate Agent

Your real estate agent may make or break your home search. And with the right real estate agent at your side, you should have no trouble finding your dream home in any real estate market.

Your real estate agent is happy to provide tips to ensure you can submit a fair offer on any residence. That way, you can avoid the risk of overspending and improve your chances of acquiring your dream home at a reasonable price.

Hire a real estate agent who possesses comprehensive expertise and great people skills. By doing so, you can work with a real estate professional who can help you acquire your ideal home in no time at all.




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