Clements Realty Group



Posted by Clements Realty Group on 1/19/2018

The rent vs buy dilemma is something that Americans have been facing for decades. Both options have their benefits, and itís really a matter of timing and preferences when it comes to choosing which is best for you.

However, there are a lot of things to consider before making this decision. So, in todayís post weíre going to break down some of the benefits of renting an apartment and of buying a home. That way you can make your decision with a clearer picture of what each situation looks like.

One thing to note first, however, is that it isnít always as simple as buy vs rent. Some living situations draw on the pros of each type of living. For example, living in a condo might be a good option for people who want the privacy and independence of owning their own home, but who also donít have the time or desire to keep up with maintenance.

So, as we compare buying and renting, keep in mind that the features of each are not mutually exclusive.

Renting an apartment

Most people who are living on their own for the first time start off renting. For younger people just out of school, renting offers the first taste of independence without the prerequisites of homeownership.

When you rent your first apartment, youíll learn the skills associated with budgeting for your monthly expenses, making your rent payments on time, and will start learning some of the skills that it takes to run a household.

In terms of monthly costs, apartments can vary greatly. Depending on where you live (and how luxurious the apartment is) you could end up having rent and utility payments that are much lower or much higher than mortgage payments for a house.

However, apartment leases often come with the benefit of utilities, trash removal, and other expenses built in. They also typically require the landlord to maintain the apartment and the land it sits on.

Live in the northern part of the country and hate shoveling snow? Make sure your lease specifies that your landlord will provide snow removal.

One technique that many renters take is to find an apartment that is small and affordable while they save up for a home. In this case, itís worth living with fewer amenities if your end goal is saving for a down payment.

But, what if you want to own a home someday but havenít quite decided where you want to settle down? Maybe your work keeps you moving from place to place or youíve always wanted to move away to somewhere new.

Renting is typically a better option for those who arenít quite sure what their plans are for the next coming years. They can have a stable place to live while they figure things out and plan their next move.

Buying a home

Once youíve rented a home for a while, you might become increasingly aware that you want more space and more control over your home.

Youíre also likely noticing how much money you spend on rent each month that is essentially a net loss.

When you buy a home, your mortgage payments might be going to the bank, but someday the money youíve paid toward that home will be yours in the form of equity. You can then use this as a down payment for another home.

This financial benefit cannot be understated. Since house values dependably increase over time, owning a home is a great investment toward your future.

So, those are the main pros and cons of renting vs buying a home. Think about your circumstances and determine which one makes the most sense for you right now. Then, start planning for the future.




Categories: Buying a Home   rent vs buy  


Posted by Clements Realty Group on 1/13/2018


196 Ocean, Lynn, MA 01902

Diamond District

Rental

$1,500
Price

3
Rooms
1
Beds
1
Baths
This is semi-shared, fully furnished offer for a gorgeous Victorian condo, entire first floor of 3 unit condo conversion of a restored Victorian mansion in Lynn's diamond district. 25 minutes to Boston. Steps from the ocean. Ocean views from your private porch and separate private garden and patio area. Enormous space, high ceilings, fireplace, and all the period details you can expect in a victorian. Kitchen was recently fully renovated with granite counters, stainless range and hood. Laundry in basement shared with the two other condos. Off street parking for one. Utilities paid by renter: oil heat, gas hot water and cooking, and electric. First, $1000 Security and half month Brokerage Fee required.
Open House
No scheduled Open Houses

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Tags: Lynn   Real Estate   01902   Rental  
Categories: New Homes  


Posted by Clements Realty Group on 1/12/2018

When it comes to finding the ideal neighborhood for your next home, there's no "one size fits all" formula.

While some people enjoy the hustle and bustle of an urban environment, others prefer a quiet family-oriented neighborhood in the suburbs.

Whatever your preferences, convenience is near the top of just about everyone's priority list. Here's why:

Closeness to Work: Long, daily commutes are not only stressful, but they can cause you to miss family dinners, school events, and relaxing evenings at home. There's also the added cost of gasoline, highway tolls, and wear-and-tear on your vehicle. If you happen to be leasing a vehicle, then long commutes could result in additional mileage charges at the end of your lease. Although car leases vary, exceeding the mileage allotment set by the leasing company can sometimes run you as much as 25 cents a mile. That can potentially add up to a hefty surcharge!

While there are a lot of reasons to look for a home that's relatively close to your job or business, quality of life issues are among the most important. As an example, if your daily commute is 45 minutes, each way, that adds up to an hour-and-a-half on the road. If you factor in occasional traffic jams, road repairs, and other inevitable delays, you're talking about more than eight hours a week just driving back and forth to work. It's equivalent to adding an additional work day to your week! Although it's not always feasible (especially in two-income households), there are major advantages to finding a house that's less than a half-hour commute to your job(s).

Proximity to Conveniences: Life will also be easier if you live close to a well-stocked supermarket. When you shop at a large, high-volume grocery store, prices are more economical and food tends to be fresher. Corner grocery stores and pharmacies are nice to have nearby when you just want to pick up a few quick essentials, but for selection, price, and freshness, supermarkets are usually your best bet!

Other desirable locations to keep in mind when house hunting include good-quality schools, reputable childcare centers, and proximity to family and friends. Depending on your lifestyle, you might want to be close to airports, major highways, recreational facilities, and entertainment. It can also be an advantage to choose a home near medical and dental offices, a veterinary clinic, and a preferred church, synagogue, or mosque.

When launching a search for your family's next home, the key to success is to stay focused, create detailed priority lists, and work with a seasoned real estate agent. Whether you decide to live in a rural area, suburbia, or downtown, a real estate agent has the knowledge, training, and negotiating skills to help you get a good deal and match your lifestyle goals with your budget and timeframe.





Posted by Clements Realty Group on 1/11/2018


27 Hemenway Rd, Swampscott, MA 01907

Single-Family

$447,400
Price

7
Rooms
4
Beds
1/1
Full/Half Baths
Charming colonial located on a wonderful quiet dead end street in the desirable Stanley School district. Brand new remodeled kitchen featuring new stainless steel appliances, gas stove, Bosch dishwasher with hidden panel, under cabinet lighting, granite counter tops and butcher block island. Kitchen fireplace is prepped with a gas line just needs an insert. Lovely 3 season porch off the kitchen overlooking the good sized fenced in yard. New 1/2 bath on first floor. Large, bright living room with beautiful floor to ceiling windows with a working fireplace for the chilly winter nights. Lovely refinished hardwood floors throughout. Water heater was replaced in 2015. Flat roof over kitchen replaced in 2015. Priced to sell!!
Open House
Sunday
January 14 at 1:00 PM to 2:30 PM
Cannot make the Open Houses?
Location: 27 Hemenway Rd, Swampscott, MA 01907    Get Directions

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Categories: Price Change  


Posted by Clements Realty Group on 1/11/2018


27 Hemenway Rd, Swampscott, MA 01907

Single-Family

$447,400
Price

7
Rooms
4
Beds
1/1
Full/Half Baths
Charming colonial located on a wonderful quiet dead end street in the desirable Stanley School district. Brand new remodeled kitchen featuring new stainless steel appliances, gas stove, Bosch dishwasher with hidden panel, under cabinet lighting, granite counter tops and butcher block island. Kitchen fireplace is prepped with a gas line just needs an insert. Lovely 3 season porch off the kitchen overlooking the good sized fenced in yard. New 1/2 bath on first floor. Large, bright living room with beautiful floor to ceiling windows with a working fireplace for the chilly winter nights. Lovely refinished hardwood floors throughout. Water heater was replaced in 2015. Flat roof over kitchen replaced in 2015. Priced to sell!!
Open House
Sunday
January 14 at 1:00 PM to 2:30 PM
Cannot make the Open Houses?
Location: 27 Hemenway Rd, Swampscott, MA 01907    Get Directions

Similar Properties





Categories: Open House  




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