Elena Langlois - CENTURY 21 Commonwealth



Posted by Elena Langlois on 12/21/2017

Buying a rental property is often one of the best things that first time home owners can do. They will often live in one of the units, and rent out the other units of the home. There’s many things to consider before you buy a rental property. Here, we’ll break down the good and the bad of being a landlord and owning your very own rental property. We’ll also show you the steps that you should take before you sign on the dotted lines. Gather As Much Information As You Can Before you make the decision to become a landlord, gather as much information as you can. Talk to people who are landlords and who own rental properties. See how people feel about living in their own rental properties. You can also read and research as much as you can on the topic for a broad perspective. Consider If You’re Ready To Be A Landlord There’s so many things to consider when it comes to buying a rental property. One of the biggest things to think about is if you truly are ready to become a landlord. There’s a lot of responsibility in being a landlord. Also, you’ll need to be prepared to deal with tenants and various problems that may come up with the property. Before you make the leap to becoming a landlord, think long and hard about how you’ll handle the responsibility and time commitment. Make Sure You Have Plenty Of Cash On Hand To purchase a rental property, you’ll need to secure a sizable downpayment for the mortgage. It’s also important that you have a reserve of cash ready for repairs that may need to be done around the building before it can be rented out. You’ll most likely need to spend some money first before you start making money on your rental property. Decide If You Want To Live On The Property For first-time homebuyers, purchasing a rental property and living in it can be a great decision. You’ll save on your monthly mortgage all while building your own capital. While you don’t always have to live on site when purchasing a rental property, it’s a great financial option to consider. Think About Hands-On Management While you may decide to pay someone to manage your rental property, you may need to deal with all aspects of your property yourself at first. Part of the job will include dealing with tenants as well as scheduling and assessing repairs. You should estimate that about ten percent of the rent that is collected will go towards these purposes. As a landlord, you’ll also need to be sure that the tenants you house are dependable and that the building is in the best shape it can be in.  




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Posted by Elena Langlois on 11/9/2017

Whether you’re buying or selling a home, one of the most important parts of the process is the negotiation phase. This means different things whether you’re buying or selling a home. When you’re selling a home, you’re usually looking to get the most money for your home that you possibly can. If you’re buying a home, you want the lowest possible price for the home. Hence, the reason for real estate negotiations. Buyers and sellers must meet somewhere in the middle. For your consideration, we’ll break down some of the most important aspects of the real estate negotiation process. The Cost Means Different Things As we stated above, buyers want the lowest price, while sellers want the highest price possible for a home. Whatever side you’re on, expect to meet somewhere in the middle. The price of the home has to make sense for both sides. The seller wants the sale of their home to make sense financially and the buyer wants to home to fit into their budget while getting the things they desire out of the home. The Financing Process Is Complicated If you have your mortgage fully approved prior to making an offer, you’ll be able to shorten the closing time of the home. The reason for this is that the preapproval shows that all of the buyer’s finances are in order and there will be no financial problems in the transaction. Sellers often prefer these buyers since they can be trusted to close properly and there won’t any issues with the real estate transaction. The property also won’t be on hold for months on end. The Date Of Closing Matters If sellers need to get their home off of the market fast, they can negotiate when the closing date will be. As a buyer, this matters because the next month’s mortgage payment is skipped once you close on a house. The closing date affects when exactly this payment doesn’t need to be made, which can have a positive effect on your finances when it’s timed right. Closing Costs Are Actually Paid Upfront Escrow is when the mortgage company holds the money for taxes and insurance, which is the prepaid closing costs. Buyers sometimes ask sellers to pay a portion of the closing costs. This could be a flat fee or up to 3 percent of the included mortgage. This could all have an effect on the asking price for the home. Just Like A Car, Homes Can Come With Warranties Buyers can ask for a warranty on the home, or the seller can offer one. This warranty typically covers the home’s appliances and utility systems. This provides a protection if things like the air conditioning or the dishwasher break after a certain period of time and need repair. This may make the home extra enticing to buyers and give sellers an advantage to get their home off the market quickly.





Posted by Elena Langlois on 8/14/2017

This Single-Family in Burlington, MA recently sold for $615,000. This Garrison style home was sold by Elena Langlois - CENTURY 21 Commonwealth.


35 Bedford St, Burlington, MA 01803

Single-Family

$599,000
Price
$615,000
Sale Price

8
Rooms
4
Beds
2/1
Full/Half Baths
Would you like to spend the rest of the summer entertaining friends in your private backyard around a beautiful in-ground pool? You can! With this 4 BR, 2.5 bath home, set on almost a ½ acre, yours will be the house that everyone wants to come to! The first floor has a fireplaced living room, formal dining room, eat-in kitchen with SS appliances, office, renovated bath with tile shower and a large mudroom that connects to the two-car garage. Upstairs are 4 generous-sized, corner bedrooms and a full bath renovated in 2017. Hardwood floors flow throughout. Basement has a newly renovated 1/2 bath, a built-in wet bar and additional living area that could be finished as a family room or playroom. Many recent updates to this home—including all new windows in 2013, new pool liner in 2016, new pool filter and pump in 2015, new 16X20 deck next to pool, and new roof in 2011 —and many more. See paper clip for list of improvements. Short stroll to all the activities at Simonds Park.

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Categories: Sold Homes  


Posted by Elena Langlois on 8/9/2017

This Single-Family in Winchester, MA recently sold for $710,000. This Ranch style home was sold by Elena Langlois - CENTURY 21 Commonwealth.


135 Main St, Winchester, MA 01890

Single-Family

$689,000
Price
$710,000
Sale Price

6
Rooms
3
Beds
2
Baths
Come take a look inside–you will not be disappointed! Large, bright rooms, & high ceilings describe this delightful ranch. Main level features front-to-back LR w/fireplace, large eat-in kitchen w/ cathedral ceiling and skylight, heated sun porch with French doors off the kitchen, two large, corner bedrooms and a full bath. Gorgeous hardwood floors flow throughout. Lower level has a large bedroom, a full bath, utility/laundry room and interior access to the one car garage. Lower level bedroom has three large windows, hardwood floors, and walkout access to backyard, making the possibilities for this space endless-could be used as an office, a family room, exercise space, or a playroom—you name it. Commuting is easy- just over a 1/2 mi to the Express Bus to Boston or minutes to the Wedgemere train station for a 20 min ride to N Station. Easy stroll to Lincoln & McCall Schools and to downtown Winchester with its vibrant shops and restaurants. Public Record does not reflect the 3rd bedroom.

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Categories: Sold Homes  


Posted by Elena Langlois on 7/27/2017

This Condo in Winchester, MA recently sold for $570,000. This Townhouse style home was sold by Elena Langlois - CENTURY 21 Commonwealth.


19 Belknap Ter, Winchester, MA 01890

Condo

$535,000
Price
$570,000
Sale Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Located on a quiet cul-de-sac, overlooking a tranquil brook, this 3 bedroom, 1.5 bath end unit condo is a haven in a hectic world. Main level includes a spacious living room ideal for large family gatherings, a dining room with slider to a private deck, the kitchen which is open to the dining area, and a half bath. Upstairs are three generous-sized bedrooms all with treetop views. The large, sunny master has two closets and the two additional bedrooms both have plentiful closet space. A full bath with tiled tub completes this level. The pristine basement includes a laundry area, workshop space, plenty of storage space and access to the one car garage. This condo lives like a single family home with a large grassy common area with many trees, a private deck overlooking Horn Pond Brook and the bike path to Horn Pond or the Town Center. It’s also just a short stroll to Lynch School. This condo has it all!

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Tags: Winchester   Real Estate   01890   Condo  
Categories: Sold Homes