Maura and Ross Rodino - Berkshire Hathaway HomeServices Commonwealth Real Estate |


Buying a house is arguably the most expensive purchase most people will make in their lives. With real estate prices steadily rising year after year, many Americans are finding ways to save on housing.

At the same time, rent prices too are increasing, especially around metro areas where many young Americans are entering the workforce. With costs rising and wages stagnating, it can be hard to find an affordable place to live while still building equity that can be used later on down the road.

One option that many Americans are considering is the fixer-upper route. However, it takes know-how and a lot of hard work to make this method a good choice to save you money. In this article, we’ll tell you how to make certain buying a fixer upper is a good idea and what costs you can expect along the way.

Adding up the costs

Buying a house that needs work means you’ll need to spend a good amount of time calculating costs and getting quotes from professionals. Even if you’re familiar with several home maintenance tasks, there are some jobs that are safer if left to the pros. This isn’t only a matter of physical safety, however. If you start a job that you aren’t qualified to finish you could end up paying much more than if you had just hired a licensed professional to do the job in the first place.

When estimating costs for reparations and renovations, aim high. It’s better to plan for it to be more expensive and have more left over than to underestimate your projects and go over budget.

Get an inspection report

If you aren’t sure whether or not you want to go through with a deal, make sure you have an inspection contingency clause in your contract. This will enable you to back out if the home inspector makes you aware of any costs that you weren’t told about by the seller.

Don’t forget added costs

There are several closing costs you’ll be responsible for as a buyer. Make sure you keep tabs on how much you can expect to spend closing on the home. If you’re going through a mortgage lender, they are required to give you an estimate of closing costs.

Once you know the purchase price of the home and the closing costs, make sure you account for other aspects of your renovations, such as getting required permits.

Borrow wisely

If you do plan on taking out a loan to cover the cost of renovations, be smart with how you get and pay back that money. One option is the FHA 203(k) loan or renovation loan.

Renovation loans help you save on closing costs and simplify the lending process by giving you one loan that accounts for the cost of the renovations and of the home itself.



9 Sanctuary Ln, Hopkinton, MA 01748

Hayden Row

Condo

$479,900
Price

7
Rooms
2
Beds
2/1
Full/Half Baths
Beautifully maintained 2 bedroom 2 1/2 bath END UNIT townhome in sought after Sanctuary Lane Estates over 55 community. This pristine, move-in ready, condo features first-floor master bedrm, first-floor laundry, gleaming hardwood floors throughout, central air, natural gas heat & central vac. The spacious master bedrm w/bathrm en suite includes double vanity, tiled shower & walk-in closet. The inviting eat-in kitchen boasts stainless appliances, gas stove, granite counters & loads of upgraded cabinets. The dramatic living room has a vaulted ceiling w/gas fireplace & formal dining rm off the kitchen. The sunlit family room leads to deck w/direct line gas for grill & outdoor patio to a tranquil yard. The second floor has a bedrm w/bathrm en suite & two spacious closets, loft office & walk-in storage area. Full basement w/endless storage and a large work area. Near Hopkinton St Park, great schools & access to miles of hiking trails. Prime commuting location near Routes 85, 495, 135.
Open House
Sunday
August 18 at 1:00 PM to 3:00 PM
Cannot make the Open Houses?
Location: 9 Sanctuary Ln, Hopkinton, MA 01748    Get Directions





11 Carding Mill Rd, Sudbury, MA 01776

South Sudbury

Single-Family

$1,029,000
Price

9
Rooms
4
Beds
2/2
Full/Half Baths
Welcome to this Stately Colonial set on 2.59 acres of land in convenient South Sudbury. You enter to a grand two story foyer with a beautiful curved staircase. The sophisticated living rm & dining rm have french doors & dentil molding and the vaulted ceiling library boasts handsome built-ins surrounding the fireplace. A welcoming eat-in kitchen w/gas cook top island & unique countertops lead to a screened porch & deck. The Stunning family room w/vaulted ceiling, fireplace & wet bar with labradorite counter top are perfect for entertaining. The second floor features a balcony with 1st fl overlook, a sizable private master en suite w/updated bath, walk-in closet, fireplace & 13ft ceilings plus 3 spacious bedrooms & large bath w/ laundry. Full-size basement w/endless storage.Young Buderus boiler, Central AC, 3 car side entry garage, central vac, security system & sprinkler system. Near Wayside Inn, Nobscot Conservation Land & Ford's Folly, great schools, shopping & dining. Prime Location!
Open House
Sunday
August 18 at 1:30 PM to 3:30 PM
Cannot make the Open Houses?
Location: 11 Carding Mill Rd, Sudbury, MA 01776    Get Directions

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9 Sanctuary Ln, Hopkinton, MA 01748

Hayden Row

Condo

$489,900
Price

7
Rooms
2
Beds
2/1
Full/Half Baths
Beautifully maintained 2 bedroom 2 1/2 bath END UNIT townhome in sought after Sanctuary Lane Estates over 55 community. This pristine, move-in ready, condo features first-floor master bedrm, first-floor laundry, gleaming hardwood floors throughout, central air, natural gas heat & central vac. The spacious master bedrm w/bathrm en suite includes double vanity, tiled shower & walk-in closet. The inviting eat-in kitchen boasts stainless appliances, gas stove, granite counters & loads of upgraded cabinets. The dramatic living room has a vaulted ceiling w/gas fireplace & formal dining rm off the kitchen. The sunlit family room leads to deck w/direct line gas for grill & outdoor patio to a tranquil yard. The second floor has a bedrm w/bathrm en suite & two spacious closets, loft office & walk-in storage area. Full basement w/endless storage and a large work area. Near Hopkinton St Park, great schools & access to miles of hiking trails. Prime commuting location near Routes 85, 495, 135.
Open House
Sunday
August 18 at 1:00 PM to 3:00 PM
Cannot make the Open Houses?
Location: 9 Sanctuary Ln, Hopkinton, MA 01748    Get Directions




This Single-Family in Natick, MA recently sold for $615,000. This Cape style home was sold by Maura and Ross Rodino - Berkshire Hathaway HomeServices Commonwealth Real Estate.


7 Columbia Ave, Natick, MA 01760

Single-Family

$599,900
Price
$615,000
Sale Price

9
Rooms
4
Beds
2
Baths
Delightful 4 Bedroom, 2 Full Bath Cape style home on a lovely street in sought after neighborhood near Lake Cochituate. The first floor features a formal living room with crown molding, hardwood floors, wood fireplace, and a handsome custom bookcase. The dining room has two built-in china closets, hardwood floors, and crown molding. Updated kitchen boasts granite counters, tile backsplash, and pantry closet. Family room has wainscoting and mudroom area with access to the yard and patio. Two spacious bedrooms with Elfa closet systems round out the first floor. The 2nd floor has two generously sized bedrooms with hardwood floors, loads of closets and bonus storage space over the garage. Basement includes a large carpeted playroom, laundry room w/sink and bulkhead to yard and two storage rooms. Young heating system, roof and freshly painted exterior make this a phenomenal home. Prime location near Mass Pike, Routes 9, 135, 27. Close to Great schools, Restaurants, and Shopping.

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