Andrea Gonzalez

Down Payment - Does it really matter?

Saving for a Down Payment

In the wake of the newly announced MassHousing zero down program, it’s important to remember that while a zero down payment may sound great, it may also make your Offer less competitive if/when multiple Offers are submitted.

When you begin to consider purchasing a new home, often times the first step is to start saving for the down payment. A down payment is the amount of money a buyer pays out of their pocket, while the remainder of the purchase price is paid by a mortgage. This amount is typically expressed in a percentage, for example on a $100,000 home purchase, Adam put down 20% or $20,000 and mortgaged the remaining $80,000.

As a Seller, if two offers are of the same purchase price amount, they will refer to other terms of the Offer, including the down payment, to distinguish the strength of the offers. If all other terms are the same, the Offer with the higher down payment would be considered the stronger of the group.

Here are several ways to help save for that down payment:

Build a budget. Taking a look into your spending habits can help you narrow down areas where you could be stricter with your budget and help save.

Pay off high interest debt, like credit cards. Don’t get stuck paying outrageous interest rates while trying to save for a home. Work to pay off credit card debt to help save on the monthly payments.

Go grocery shopping and stick to a list. People who grocery shop aren’t as likely to order out and in turn save money on eating in.




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    5 Reasons To Use A Buyer's Agent

    5 Reasons To Use A Buyer's Agent

    1. It’s FREE — Using a Buyer’s Agent when purchasing a home is not an additional cost to the Buyer! The commission paid to the Agents involved in the transaction is paid directly by the Seller.

    2. Market Knowledge — Our team has lived in the Greater Boston area for almost 20 years. As a full time Brokerage with over $10M in sales so far this year, our ability to understand price points in different markets and provide market analyses provides our clients with a competitive advantage when navigating the housing market. 

    3. Safeguard — Transactions can, and often do, take unexpected turns. A Buyer’s Agent is not only a great asset, but also someone who can act on your behalf when charting unknown territory and help overcome setbacks 

    4. Negotiations — As an Attorney and legal professional, Andrea has shared her negotiating skills with her team members. Our ability to effectively negotiate gives our clients an edge over not just Sellers, but also other Buyers you may find yourself competing with. 

    5. Contracts — As a licensed Massachusetts Attorney with over a decade of experience in Real Estate, Andrea deals with contracts and conditions on a regular basis. Therefore, we are familiar with purchase contracts and which conditions can and/or cannot be safely be removed, which is an added protection you have when purchasing a home with Us as your Brokerage. 


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      5 Reasons to List with AG Luxury Boston

      5 Reasons To List With Us

      1.     Convenience/Access: We are FULL-time Real Estate professionals. When you hire Us, you speak directly to Us.  Andrea built her legal practice on being accessible and cultivating convenience, and we offer that same level of service now to all of our real estate clients.


      2.     Education & Experience: Andrea is a licensed Massachusetts Attorney with a decade of experience in real estate. Contracts can be hard to handle. We deal with the same contracts and conditions on a regular basis and we are familiar with the terms and conditions and how to use the contract to protect you when selling your home.


      3.     Negotiation Skills & Confidentiality: As an Attorney and legal professional, Andrea values confidentiality almost as much as her ability to negotiate. As your agent, we can help by speaking for you in tough transactions and smoothing things over with other parties when needed.


      4.     Neighborhood Knowledge: Our team has lived in Boston for 17+ years. We currently have homes in Downtown Boston, Brookline, and South Boston. We have lived in South Boston, Downtown/Midtown, the Leather District, Back Bay, Beacon Hill, Chestnut Hill and Brookline over the years. There is not  a neighborhood our team doesn’t know in the Greater Boston area.


      5.     Price Guidance: When you couple our education and experience with our negotiation skills and neighborhood knowledge, the competitive advantage is clear. We can provide a market analysis to value your home AND negotiate that price to get you the most money when you sell.





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