Understanding the Dedham, MA Housing Landscape
Thinking about buying a home in Dedham? Congratulations! You've chosen a colorful city with a dynamic selection of parks, businesses, and educational opportunities, and we're here to help make your home purchase and move a little easier. We support 3.8 million customers nationwide and are familiar with the ins-and-outs of the Dedham housing market.
Dedham's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Ongoing support for local businesses and cultural growth have helped to entice entrepreneurs, retirees, and new graduates to the Dedham area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Dedham and its nearby areas still offer an array of homes in price and amenities. You can find duplexes, single-family homes, townhomes, condos, and (fingers-crossed) your perfect home! When buying a house in Dedham, double check that you're factoring in the home's distance from your daily activities. If possible, drive the route you'd take from the house to your school, office, and favorite hangout spot. The location of your house will impact virtually every part of your life. Traveling around Dedham will also give you an idea of why homes in west Dedham are priced differently than homes in east Dedham, what the neighborhoods are like, and where to find Dedham's hottest attractions.
Are your finances in the right place to buy a home in Dedham? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We think the dream of homeownership should never fade and work to make every stage of the journey more enjoyable and less worrisome. You could choose to buy a home in Massachusetts or elsewhere. We help experienced homeowners and first-time homeowners alike. Read through the following steps to help you see if you're in a good financial position to buy a house in Dedham.
Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Dedham. After that, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. Everyone's situation will differ, but a quick online search for average expenses in Dedham will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.
Then, look at how much money you can put toward a down payment. Placing a minimum of 20% down can improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). Even so, the required down payment will depend on the type of loan you get. Here's where it can help to get prequalified for a mortgage. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!
It's Go Time! Buy a House in Dedham, MA
While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Dedham. Contact Mr. Cooper as you prepare to buy a house in Dedham.