First-Time Home Buyers
Your first house, explained in plain English, with nobody rushing you into an offer you do not understand.
Nobody is born knowing how this works
The first time through, the vocabulary alone is a wall. Pre-approval, contingency, escrow, P&S, binder, Title 5, rider. Everyone around you uses these words as though you already know them, and asking feels like admitting you should not be here.
You should be here. The words are not difficult, they are only unfamiliar, and anybody who makes you feel slow for asking is telling you something useful about themselves.
I explain the why before the what. You will know what every number on a page means before you sign underneath it, and if I use a term you have not heard, stop me. That is not an interruption, it is the job.
Start with a conversation
The order things actually happen in
Most first-time buyers start by looking at houses online, which is enjoyable and is not actually the first step.
- Talk to a lender first. Not to commit to anything, but to find out what you can borrow and what the monthly payment really looks like once taxes and insurance are in it. This one conversation prevents the most common disappointment in the whole process, which is falling for a house in the wrong price band.
- Get pre-approved, which is a lender actually reviewing your finances rather than a number from a website. Sellers here take a pre-approval seriously and mostly ignore anything less.
- Work out what you want, which is where I come in, and which is more about how you want to live than about a bedroom count.
- Look at houses, and expect the first few to recalibrate everything you thought you wanted. That is normal and it is useful.
- Make an offer, with the contingencies that protect you explained before you agree to anything.
- Inspection, financing, and the purchase and sale agreement, which I will walk you through step by step at the time, for your specific transaction.
- Closing, and the keys.
Programs worth asking a lender about
Massachusetts has more help available for first-time buyers than most people realize, and a lot of it goes unclaimed because nobody mentions it.
MassHousing and the ONE Mortgage program are the two most people qualify under, and there are down payment assistance options, closing cost help, and in some cases town-level or employer programs on top. Some are income-limited, some are limited by purchase price, and the thresholds are different for different programs.
I am deliberately not printing the current limits here, because they change and a stale figure on a real estate website is worse than none at all. What I will do is point you at a lender who works with these programs regularly and tell you which ones are worth asking about for your situation. The difference between a lender who knows them and one who does not can be thousands of dollars.
What a house on this coast costs beyond the mortgage
The payment your lender quotes is not the cost of owning the house, and first-time buyers are the group most often surprised by the gap.
- Insurance, which near the water can be considerably more than inland, and which may involve separate wind coverage.
- Flood insurance, if the property is in a flood zone. Ask early. It is not a small line item.
- Septic, if there is no town sewer. Pumping is routine, and a Title 5 inspection is part of buying.
- Heat, and on the older housing stock here the difference between an efficient house and a drafty one is a real monthly number.
- Repairs, because things break and there is no landlord now.
I would rather you bought slightly less house and slept well than stretched to the top of your pre-approval and found out about the insurance afterward.
I will tell you when a house is wrong for you
Out loud, even when it costs me the sale.
There is no version of this where you buy the wrong house and I am pleased about it. You will live here, you will tell people who helped you, and this coast is small. An agent who pushes a first-time buyer into a house with a problem is trading a commission for a reputation, which is a poor trade in a market where most of my business comes from people talking.
Expect me to point out what is wrong with each house, including the ones I think you should buy. Every house has something. Hearing it from me now is better than hearing it from an inspector when you are already attached, and far better than finding it yourself in year two.
This describes my general process and is not legal, tax, or lending advice. Program eligibility and terms are determined by the lender and the program administrator.
Frequently Asked Questions
How much do I need for a down payment in Massachusetts?
Less than most people assume. There are programs for first-time buyers with low down payment requirements, and down payment assistance on top of that in some cases. The right move is a conversation with a lender who works with MassHousing and ONE Mortgage regularly, and I can tell you who those lenders are.
What first-time buyer programs exist in Massachusetts?
MassHousing and the ONE Mortgage program are the two most buyers qualify under, with down payment and closing cost assistance available alongside them, and sometimes town-level or employer programs as well. Income and purchase price limits apply and they change, so check current terms with a lender rather than relying on a figure printed on any website.
Should I talk to a lender before looking at houses?
Yes, and it is the step people most often skip. One conversation tells you what you can borrow and what the monthly payment actually looks like with taxes and insurance included. It prevents the most common disappointment in the whole process, which is falling in love with a house in the wrong price band.
What does it cost to own a home here beyond the mortgage?
Insurance, which near the water is higher than inland and may need separate wind coverage. Flood insurance if you are in a flood zone. Septic maintenance where there is no town sewer. Heat, which on older houses here varies a lot. And repairs, because there is no landlord now. I would rather you bought a little less house and slept well.
Do I pay you as a buyer?
How I am paid is set out in a written agreement we sign before we get far, and I will explain it in plain language first. Compensation is agreed between us and it is negotiable. No rate here is standard or customary, and the arrangement can be structured more than one way.
Is it a bad time to buy my first home?
That depends far more on your own situation than on the market, and anyone who answers it confidently without knowing your finances is guessing. Waiting for a perfect moment has cost more first-time buyers more money than buying at an imperfect one. Tell me where you actually stand and I will give you a straight answer for you.
First-Time Buyers by neighborhood
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