Hunt Realty Associates LLC | Wilbraham Real Estate, Hampden Real Estate, Longmeadow Real Estate


Believe it or not, the process of buying a home can become long and complicated. And if you're not careful, you may encounter many hurdles that prevent you from acquiring your dream residence.

Lucky for you, we're here to teach you about the ins and outs of buying a house and help you simplify the process of going from homebuyer to homeowner.

Now, let's take a look at three common misconceptions associated with buying a home.

1. You will be able to acquire a house in a matter of days.

The process of locating your dream home is unlikely to happen overnight. Instead, a homebuyer usually will need to perform extensive housing market research to discover a residence that meets or exceeds his or her expectations.

Typically, a homebuyer will look at several houses before he or she can find the right residence. This homebuyer then will need to submit an offer on a house. And if a home seller accepts the homebuyer's proposal, a home inspection will need to be completed before a home purchase is finalized.

It is important to set realistic expectations for your home search. In most instances, it may take a few weeks or months to find your perfect residence. But with a diligent approach to your home search, you'll be able to discover a house that can serve you well for years to come.

2. You will be able to buy a home for less than a property's initial asking price.

Understanding the differences between a buyer's market and a seller's market is essential for a homebuyer.

In a buyer's market, many high-quality residences are available. This market usually favors homebuyers, and in many instances, enables property buyers to secure great houses at budget-friendly prices.

On the other hand, a seller's market features a shortage of first-rate properties. As a result, this market favors home sellers, and many homebuyers may compete with one another to secure the best houses.

Regardless of whether you're operating in a buyer's or seller's market, it is paramount to avoid the temptation to submit a "lowball" offer on a residence. By doing so, a homebuyer can minimize the risk of missing out on an opportunity to acquire his or her perfect residence.

3. You can find your dream home without help from a real estate agent.

When it comes to buying a house, the early bird catches the worm. Therefore, an informed, persistent homebuyer is more likely than others to locate a terrific home at an affordable price.

Ultimately, working with a real estate agent is ideal. With a real estate agent at your side, you can receive expert assistance throughout the homebuying journey.

A real estate agent will set up home showings, keep you up to date about new houses as they become available and much more. He or she also will respond to your homebuying questions and ensure you can acquire a stellar home in no time at all.

Take the guesswork out of buying a house – collaborate with a real estate agent, and you can make your homeownership dreams come true.


If you plan to buy a house, it helps to take an honest approach to the homebuying journey. In fact, there are many reasons to remain open and honest throughout the homebuying journey, including:

1. You can set realistic expectations for the homebuying cycle.

If you're honest with yourself, you can determine exactly how much that you can spend on a residence. Then, you can tailor your home search accordingly.

Furthermore, an honest approach is ideal to ensure you can maintain realistic expectations as you pursue houses. No house is perfect, but an honest homebuyer will realize this before he or she embarks on a home search. As a result, this homebuyer may be better equipped than others to discover a terrific house that matches his or her expectations.

2. You can resist the temptation to spend beyond your means.

Oftentimes, it helps to get pre-approved for a mortgage before you enter the housing market. If you pursue houses with a mortgage in hand, you can establish a price range for your home search, thereby reducing the risk of spending too much on a house.

When it comes to getting a mortgage, you'll need to be honest with prospective lenders. These financial institutions will perform their due diligence to ensure you are qualified to receive a mortgage. And if you are dishonest with lenders, you are unlikely to get the mortgage you need to acquire your ideal house.

3. You can speed up the homebuying journey.

The homebuying journey may prove to be a long, drawn-out process if you're not careful. Fortunately, with an honest approach to buying a house, you can limit the risk of encountering time-consuming homebuying hurdles.

For example, if you are honest with yourself about where you want to live, you can refine your home search to particular cities or towns. This will enable you to keep track of available houses in certain areas, resulting in a fast, efficient home search.

The aforementioned list highlights some of the key reasons to be honest with yourself and others as you pursue a house. Of course, if you need extra assistance as you search for your dream home, you may want to hire a real estate agent too.

A real estate agent is a homebuying expert who will be direct and forthright with you throughout the homebuying journey. As such, a real estate agent can help you take the guesswork out of purchasing a house.

Usually, a real estate agent will meet with you and learn about your homebuying criteria. This housing market professional then can tailor a home search to help you identify your dream residence. And if you have any homebuying questions, a real estate agent can respond to these queries immediately.

Perhaps best of all, a real estate agent will provide honest, unbiased recommendations as you proceed along the homebuying journey. This housing market professional will simplify the homebuying process, ensuring you can acquire a top-notch house that you can enjoy for years to come.


Image by StockSnap from Pixabay

The perfect home is not the only thing you'll need to shop for when you want to become a homeowner. In order to get the best terms, the lowest monthly payment and a reasonable interest rate, start doing some homework now -- before you even attend your first open house. 

1. Check Your Credit Score

Checking your credit score should be the first thing you do when you're considering the purchase of a home. Why? Because every lender you speak to will use it as a benchmark for determining the likelihood of you being able to pay off the debt. The better your credit score, the more favorable terms and interest rates a lender might offer you. The earlier you know your credit score, the more time you have to address any issues that might be contained in it. Remember, you're entitled to one free credit report from each of the three reporting agencies each year. Take advantage of this service and keep tabs on your credit score. 

2. Have Steady Employment 

Being able to demonstrate that you are gainfully employed will go a long way toward qualifying for a mortgage loan and being offered attractive interest rates. Aim for at least two years of unbroken employment. Be ready to back up your claims regarding the duration of your employment and the dollar amounts you bring home. 

3. Offer a Sizable Down Payment 

Come to the negotiating table with a lender and with a solid down payment, you'll be able to enjoy lower monthly payments. There's no fast rule regarding the amount of a down payment. That being said, most lenders like you to have at least 20 percent of the home's purchase price as the down payment. There are some lenders, however, who accept less than 20 percent. If your lender accepts down payments that are less than the standard 20 percent, expect to have to purchase private mortgage insurance. This can be anywhere from .05 percent to 1 percent. 

4. Know Your Debt To Income Ratio

The debt to income ratio demonstrates your ability to pay off the mortgage as agreed upon. Most lenders like to see that your monthly debt payments are equal to or less than 43 percent of your gross monthly income. 

In a seller's market, there might be several people vying for the same home. Addressing the items above can make you look more attractive compared to some of the other potential home buyers. 


If you want to find and purchase a great house at a budget-friendly price, it helps to enter the homebuying journey with a plan in hand. Lucky for you, we're here to help you prepare for all stages of the homebuying journey.

Now, let's take a look at three tips so you can set yourself up for success as you search for your dream residence.

1. Make a List of Home Must-Haves

The definition of a dream home varies from buyer to buyer. To define your dream home, you should craft a list of house must-haves and use this list to streamline your quest to acquire your ideal residence.

Think about which home features you need. For instance, if you require a house that boasts multiple bedrooms, you can tailor your house search accordingly. Or, if you need a home that is close to your office, you can search for a residence that provides convenient access to your office.

You may want to make a list of preferred cities and towns, too. This list will enable you to focus on available houses in cities and towns that match your expectations.

2. Create a Homebuying Budget

Learn about different types of mortgages – you'll be glad you did. Because if you make an informed mortgage selection, you can begin your home search with a budget at your disposal.

Generally, it is a good idea to meet with banks and credit unions before you launch a house search. Banks and credit unions are happy to teach you about myriad types of home financing. Then, you can select a mortgage that can help you make your homeownership dream come true.

If you are unsure about how various mortgage options work, there is no need to stress. Banks and credit unions employ courteous, knowledgeable mortgage specialists, and these professionals can teach you everything you need to know about home financing.

3. Collaborate with a Real Estate Agent

A real estate agent is a homebuying expert who is happy to share his or her housing market insights with you. By doing so, a real estate agent will help you achieve your desired homebuying results as quickly as possible.

Typically, a real estate agent takes an in-depth approach to the homebuying journey. He or she first will learn about you and find out what you want to find in your dream residence. Next, a real estate agent will help you narrow your house search to residences that satisfy your needs and keep you up to date about available homes that may suit you perfectly. If you find a home you want to buy, a real estate agent then will help you craft a competitive offer to purchase this residence. Finally, if your offer to purchase a house is accepted, a real estate agent will help you complete the homebuying journey.

Want to acquire your ideal residence? Take advantage of the aforementioned tips, and you can put yourself in position to succeed as you pursue your dream home.


As a homebuyer, it may be beneficial to establish goals. Because once you know what you want to accomplish during the homebuying journey, you can take the necessary steps to achieve your homebuying aspirations.

Now, let's take a look at three factors to consider as you develop homebuying goals.

1. Your Dream Home

Define your dream house – you will be glad you did. If you know what you want to find in your ideal residence, you can map out your homebuying journey accordingly.

Generally, it helps to make a list of house must-haves before you launch a home search. This list should include any features you require from a residence, along with your preferred cities and towns.

If you need a home that provides convenient access to your office in the city, for example, owning a house in or near the city itself is a must. Or, if you require a home that offers ample space for you and your kids, you can search for residences that provide multiple bedrooms and play areas.

2. Your Homebuying Budget

When it comes to buying a house, it is beneficial to get your finances in order. That way, you can hone your home search to residences that fall within your price range.

Meeting with banks and credit unions allows you to learn about a broad assortment of mortgage options. These financial institutions can teach you about different types of home financing. Then, you can select a mortgage and enter the real estate market with a budget in hand.

3. Your Homebuying Timeline

Consider how long it will take you to find and purchase a home that matches your expectations. If you establish a homebuying timeline, you may be better equipped than ever before to optimize your time and resources as you search for your dream residence.

Of course, it helps to maintain a flexible homebuying timeline. And if you encounter challenges during the homebuying journey, you can adjust your timeline as needed.

For those who plan to pursue a home, it may be helpful to hire a real estate agent, too. If you employ a real estate agent, you can get the support you need to navigate the homebuying journey like a pro.

A real estate agent is happy to help you explore a variety of homes in your preferred cities and towns. If you find a house you want to buy, a real estate agent will help you craft a competitive offer to purchase this residence. Plus, if your offer to purchase is accepted, a real estate agent will guide you along the final stages of the homebuying journey.

As you prepare to conduct a home search, you may want to develop goals. If you begin a home search with a plan, you could streamline the process of finding and purchasing your ideal residence. Best of all, you may be able to acquire a first-rate house that will serve you well for an extended period of time.




Loading