Monday, March 18, 2024

Why Older Homes Might Be More Appealing to Lexington MA Homebuyers

For homebuyers in Lexington MA today, there are many choices associated with local real estate. From when to buy or when to sell, which mortgage type is best and which community is the best fit, there is also one other important question homebuyers must ask themselves— new construction or existing?

The prices can vary dramatically and while you may prioritize having a brand-new home over a lived-in property, it’s important to consider the financial differences between the two.

New Construction Upgrades

When you visit a model home in a Lexington MA community, it can be easy to feel attached to all of the modern features. However, each of those upgrades comes with a price tag and it can be a hefty one at that. When you realize how much everything you want in the home will cost, older homes start to become more appealing.

More available, less expensive

Older homes in Lexington MA and the surrounding areas are typically less expensive than new construction and more readily available in the real estate market than newer homes, all depending on the area, of course.

Troublesome Financing

Newer homes can come with larger price tags and because of this, can be harder to finance. With stricter lending requirements (especially for self-employed buyers), homebuyers are forced to comply with traditional guidelines of down payments and debt to income ratios. If your home will be using more than 30% of your household gross income to cover living expenses (mortgage, taxes, insurance), lenders may not see that as a sound purchase.

As your local real estate expert, I can help you determine which style of home and location are best for you and your needs!

Let's connect!

Theresa D'Antuono

Sunday, February 18, 2024

What to Do When Your Lexington MA Home Isn't Selling

If your Lexington MA home is currently on the market without any promising offers yet, you might find yourself growing increasingly frustrated as time goes on. It’s a common scenario for many area home sellers that can be understandably disheartening, but don’t worry too much!

There are several proactive steps you can take to breathe new life into your Lexington MA listing to attract the right buyers:

1. Evaluate Your Pricing Strategy: The first thing to reassess is your pricing strategy. In a competitive market, pricing can make or break a sale. Consider consulting with your real estate agent to conduct a comparative market analysis (CMA) to ensure your home is priced competitively.

2. Enhance Curb Appeal: First impressions matter. Sprucing up your Lexington MA home's exterior can make a significant difference in attracting potential buyers. Simple enhancements like landscaping, a fresh coat of paint, or updating the front door can go a long way in improving curb appeal.

3. Address Any Issues: Identify and address any issues that may be deterring buyers, such as outdated fixtures, repairs, or maintenance issues. Investing in minor repairs and updates can make your home more appealing and potentially increase its value.

4. Flexible Showing Schedule: Make it as convenient as possible for potential buyers to view your home by offering flexible showing schedules. Accommodating their preferred times can increase the likelihood of receiving offers.

Remember, patience is key in the home selling process. By implementing these strategies and staying the course, you can increase your chances of selling your Lexington MA home successfully.

Do not hesitate to give me a call for help in navigating your home sale. I'm here to guide you, every step of the way!

Contact me today!

Theresa D'Antuono

Thursday, January 18, 2024

How to Decide Between Lexington MA Condo and Townhome

Downsizing, whether due to empty nesting or seeking a simpler lifestyle, often prompts the question: Should I move to a condo or a townhome in Lexington MA? Both options offer low-maintenance living, but understanding the nuances can help you make the right choice as you embark on this new chapter in your homeowner journey.

Condo Living in Lexington MA

Condo living presents a compelling case for those looking to minimize upkeep responsibilities. With amenities like lawn care, exterior maintenance, and communal facilities typically covered by homeowners' association (HOA) fees, condos offer convenience and freedom from many traditional homeowner duties. This lifestyle appeals to individuals and couples eager to say goodbye to yard work and time-consuming exterior upkeep.

Townhome Living in Lexington MA

On the other hand, townhomes offer a middle ground between detached single-family homes and condos. While townhome residents enjoy the benefits of shared maintenance responsibilities, they also maintain some degree of autonomy over their property. With separate entrances and potentially more space than a condo, townhomes provide a sense of privacy while still offering community amenities and shared maintenance benefits.

When choosing between a condo or townhome, it's important to consider your long-term real estate goals. If you desire a lock-and-leave lifestyle for travel, a condo may be the ideal choice. If you value a bit more space and independence while still enjoying shared amenities, a townhome might be the better choice.

The decision all comes down to your lifestyle preferences, financial situation, and future plans. Whether you opt for the simplicity of condo living or the balance of townhome ownership, downsizing offers an opportunity to embrace a more manageable way of life.

Contact me today for a list of available townhomes and condos in the Lexington MA area

Theresa D'Antuono