Relocating to Massachusetts: A homebuyer’s comprehensive guide

Buying a house is stressful no matter where one is, but looking for property in a different state brings even more challenges. Anyone looking for a house or land in Massachusetts will be joining the ranks of thousands of Americans who are choosing it as a new home every year. This guide contains tips and hacks on navigating unfamiliar waters of the housing market, finding realtors in Massachusetts and avoiding common real estate mistakes.

What makes Massachusetts a great place to live?

The Bay State doesn’t need much advertisement. We all know about the rich history, food scene, vibrant culture and beautiful nature that make Massachusetts a top holiday destination. However, here are the main reasons that bring out-of-state newcomers permanently to MA:

Boston Metropolitan Area

One of the world-famous cities on the East Coast, Boston attracts many tourists and ambitious Americans. Boston has a stable economy, world-class healthcare, prestigious universities, a diverse culture and a growing job market. The city is famous for great public transportation and walkability, making it an easy one for commuters. Like many New England towns, the Boston metro area is densely populated with 4.59 million people. The growing population and demand for housing have required major construction and neighbourhood expansion. Since the pandemic, the exploding real estate market has kept Boston real estate agents on their feet.

Strong economy

Massachusetts’s state economy is second best across the nation. Extremely diverse, the state is home to world business headquarters, tech development and robust higher education industry, in addition to agriculture and fishing. Entrepreneurs who enjoy an active lifestyle and high quality of life will thrive in Massachusetts. The job market is expanding by the second, giving any young specialist space for professional growth.

Top-notch education facilities

Massachusetts is home to some of the most revered higher education institutions in the country, including Harvard University, MIT and  Boston University. Besides that, the state offers quality education from kindergarten through high school, with plenty of options for families who can choose to send their children to prestigious private facilities or top-rated public schools.

Affordable real estate market

Despite the population growth and professional appeal of Massachusetts, it’s still possible to find affordable real estate. The median price for a house across the state is around $480,000. When looking into buying property in Massachusetts, it’s worth researching the specifics of the market local to the area where one wants to live. For example, a single-family house in the Boston metropolitan area will cost around $800,000. For an even more affordable option, it’s worth exploring other areas, like Cape Cod, North Shore, South Shore and more.

Tips and tricks for buying a house in Massachusetts

This advice is worth remembering when buying a home in Massachusetts!

Choose the neighbourhood wisely

Researching the state’s market is not enough when preparing to buy a house. Exploring the specifics of the cities and neighbourhoods one picture oneself living in is essential, and the local market varies in different areas. When setting requirements, it’s important to pay attention to:

• Crime rates
• Commute times
• Available transportation methods
• Lifestyle compatibility (family-friendly, artsy, dynamic, nightlife, etc)

That way there’s a greater chance of finding a place that will be comfortable to live in for a long time.

Get pre-approved for a mortgage

Figuring out financing is a number one priority. Without a down payment and pre-approved mortgage letter, buyers will not be able to withstand the competition. Massachusetts offers several governmental homeownership programs for low- and moderate-income families and first-time buyers. With the Homeowner Assistance Fund (HAF) and the US Department of Housing and Urban Development, one can explore options to get assistance with financing the down payment or an entire purchase.

Partner up with a local realtor

When moving from out of state, the guidance of a local expert will help navigate the market. Massachusetts allows dual agencies, so a single broker might represent both the buyer and seller; a dual agent will act neutrally toward the buyer and seller. It’s recommended that house hunters find a buyer’s agent who will act in their best interest and try to get the best deal. Finding an exclusive agent will guarantee they will advocate for the buyer during negotiations and closing.

Understand the expectations of disclosure forms

Another nuance in the Bay State is that sellers can skip the disclosure agreement. Usually, such a practice protects the buyer from any inside-the-house damage. In the disclosure paper, the seller has to list the state of each essential system like plumbing, electricity, foundation and the roof. Yet, in Massachusetts, this responsibility falls to the buyer.

Don’t neglect a house inspection

…which lead to house inspections: if, in other states, a professional inspection is the responsibility of a seller in MA it sits on buyers’ shoulders. Since the seller isn’t required to provide a disclosure form, it’s up to a prospective buyer to perform an inspection and evaluate the house’s quality. The house inspector will compile a full report to verify if there is a need for repairs or re-installation. Foregoing an inspection can be extremely costly in the long run, as some issues can be invisible at first.

Massachusetts law requires a closing attorney

In Massachusetts, an attorney must be present for the closing and signing process. In fact, both the buyer and the seller should have an independent attorney present during the signing of the Purchase and Sale Agreement. When one is a newcomer, it can be challenging to find representation, so it’s a good idea to make sure to seek help from a trustworthy realtor.

The bottom line

The Massachusetts real estate scene has many nuances. Finding a reliable, local realtor to support a real estate journey is essential – buyers shouldn’t hesitate to contact an expert to find a dream house in Massachusetts.

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