Michelle Gillespie - Berkshire Hathaway HomeServices N.E. Prime Properties

Posted by Michelle Gillespie on 9/24/2017

You may have heard that you will need 20 percent of the purchase price of a home to put down in order to buy it. As the prices of homes continue to rise. 20 percent of the purchase price of any home may not seem like a small feat to save up. It’s not impossible to buy a home. You may be able to get around the 20 percent rule in a variety of ways. Keep in mind that putting down as large of a down payment as you can will help you to land the home of your dreams a bit faster. 

The 20 percent down rule is sort of a myth. While the more you have saved up, the better your chances of standing out among other buyers are. You can still get a mortgage with less than 20 percent down from most banks. The drawback in not putting down 20 percent on a home is that you will need mortgage insurance (also known as PMI). Mortgage insurance is necessary if you put less than 20 percent down because the lender wants protection in case the home is foreclosed on due to a lack of payments.

All About PMI Payments

If you do put less than 20 percent down on a home, your PMI payments won’t go on forever. Once your loan is paid down a bit, you’ll be free and clear of PMI payments. As a rule, if the loan-to-value-ratio reaches 80 percent, you can ask your lender to cancel the insurance for you. When the loan-to-value ratio reaches 78 percent, the lender will automatically cancel the PMI. This is a welcome decrease in expenses since PMI insurance can add up to be hundreds of dollars per month.      

Finding A Way Around 20 Percent Down

Before you even decide to buy a house, you should look at financing options. There are certain programs that are available to you to help. If you know about them ahead of time, you’ll be able to take advantage of them.  

Government Programs

Many different government agencies have programs available to help people get a home easier. These programs will provide home loans with a low interest rate and little to no down payment. The downside to these programs is that many of them actually require you to purchase private mortgage insurance as a contingency to get the loan. You’ll need to plan for these extra expenses. There are even grants available to help you with your down payment. Check in your state or local HUD office for details on various programs that can assist you with your down payment on your first home. Through a bit of savings and research, owning your first home can be possible with or without 20 percent down.

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Posted by Michelle Gillespie on 9/17/2017

There are several benefits derived from the right home office. Set up a successful home office and you could create multiple streams of income or start your own business. You could also enter a successful telecommuting arrangement for an employer or pursue deep, lifelong passions or hobbies.

Profits linked to a successful home office

Website design, freelance writing, real estate investment, interior design and insurance sales are just a few of the many business and hobby avenues that you could explore after you set up a home office. However, simply having space to work or create out of won't necessarily connect you to inner and financial rewards.

You have to feel confident working from home, and that is not a given. It might not seem like it, but there are several challenges inherent in working out of a home office. Among these challenges are requests to perform personal errands for family and friends, childhood responsibilities and background noise.

If you're easily distracted, you may need to sound proof your home office. You also might need to keep televisions and telephones out of your home office. Even if background noise doesn't generally distract you, to succeed while working out of a home office, you need mental discipline.

Path to a successful home office

Signs of mental discipline include only checking emails during certain times of the workday and avoiding non-work related online searches until after you finish projects. You simply must be focused to get the most out of working from home. Other musts are the right tools and equipment. Generally, a successful home office has:

  • An ergonomically fit work desk and chair - Your desk and chair should be properly aligned. If not, you could experience back, wrists or neck pain.
  • Storage space - Even if you store documents on your computer, it's a good idea to have a backup storage space which might come in the form of filing cabinets or removable disks.
  • Robust computer - A computer with a small amount of memory and bandwidth will slow you down. Even if you have to invest money in a new computer, if you plan on working from home full-time, it may be well worth it.
  • Office supplies - Depending on the type of work that you do from home, you may need copy paper, staples, a stapler, scissors, file folders, stacking trays, writing pads and pens.
  • Mailing - Should you do a lot of mailing, a mail weighing station could prove to be a benefit.

Successful home office setups could benefit the economy

Home offices may continue to become attractive, especially as the numbers of people pursuing independent business endeavors grows. If companies that are operated out of a home office yield significant revenues and profits, successful home office setups could strengthen the overall economy.

These offices could also give serious minded professionals increased work life flexibility. After all, it's not just work life balance that can support smart business owners. Work life flexibility is also a huge gain for employees who have an entrepreneurial mindset.

Getting the most from a home office requires the right setup. It requires smart forethought, planning and sufficient resourcing. After that, workers need focus, commitment, resiliency and vision. Passion for the work that is being pursued is a must. Working out of a comfortable, supportive home office could help workers to experience many of the aforementioned benefits.

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Posted by Michelle Gillespie on 9/11/2017

This Single-Family in Medway, MA recently sold for $530,000. This Colonial style home was sold by Michelle Gillespie - Berkshire Hathaway HomeServices N.E. Prime Properties.

13 Holbrook Street, Medway, MA 02053


Sale Price

Full/Half Baths
Beautiful, well maintained home located on a corner lot in a great cul-de-sac neighborhood. Four bedrooms and three bathrooms. Updated eat-in kitchen with granite countertops, stainless steel appliances, updated cabinets, breakfast bar, pantry, access to deck area. Formal dining room w/chair rail, crown molding, chandelier, french door and newly painted. Living room w/new picture window, hardwood floors & newly painted. First floor w/new hardwood floors. Family room w/recessed lighting, stone fireplace & new hardwood floors. First Floor Laundry Room. First Floor Bathroom. Master Bedroom w/master bath & walk-in closet. Four bedrooms total w/ceiling fans & closets. All bedrooms newly painted w/new wall to wall carpet. Finished basement has a bonus room, cedar closet & storage area. Front porch for relaxing on summer night. Deck area and level back yard for summertime BBQ. Over-sized two car garage. Central Air. Newly Sealed Driveway. Great commuting location, close to major highways.

Similar Properties

Categories: Sold Homes  

Posted by Michelle Gillespie on 9/10/2017

Buying a condo represents a life-changing investment. As such, you'll want to allocate the necessary time and resources to ensure that purchasing a condo is right for you.

So what does it take to determine whether to purchase a condo? Here are three tips for those who are evaluating the pros and cons of buying a condo.

1. Understand What Condo Life Is All About

A condo and a house are two very different types of properties. Thus, you'll want to understand what condo life is all about before you purchase a condo.

For example, homeowners likely will have a front yard and backyard that they will need to maintain year-round. Homeowners also can plant a garden, install an in-ground pool and perform various home maintenance and upgrade projects at any time.

On the other hand, condo owners frequently live in closer proximity to one another in comparison to homeowners. This means condo owners likely won't have to mow their own lawns or shovel their walkways in winter. However, condo owners might lack the space to set up a personal garden, and they may require homeowners association (HOA) approval to complete any home exterior modifications as well.

2. Know the HOA Fees

Although you'll pay a mortgage as part of a condo purchase, you will still need to consider the HOA fees in addition to your monthly mortgage costs.

HOA fees cover the costs of insurance, maintenance and other property expenses. Plus, if your condo's roof is severely damaged or destroyed, you should be covered thanks to your HOA fees.

To learn about your HOA fees, you can contact the HOA directly. Also, your real estate agent will be able to provide insights into the HOA fees associated with a condo.

3. Collaborate with an Experienced Real Estate Agent

When it comes to purchasing a condo, all real estate agents are not created equal.

Finding a real estate agent who possesses many years of experience with condos is paramount. This real estate agent will be able to help you understand the ins and outs of condo life, examine HOA fees closely and discover whether a condo purchase is right for you.

Furthermore, your real estate agent should be able to help you along each stage of the homebuying journey. He or she will be able to set up condo showings, assess condos that match your price range and provide expert homebuying tips as you move along the homebuying journey.

Perhaps best of all, your real estate agent understands that the process of buying a condo can be challenging. As a result, your real estate agent is happy to respond to your concerns and queries. That way, if you're uncertain about purchasing a condo, you can consult with your real estate agent and get the best support possible.

Hire a real estate agent with condo experience – you'll be glad you did. With this real estate professional at your disposal, you should have no trouble finding your dream condo in no time at all.

Categories: Uncategorized  

Posted by Michelle Gillespie on 9/7/2017

This Condo in Northborough, MA recently sold for $565,000. This Townhouse style home was sold by Michelle Gillespie - Berkshire Hathaway HomeServices N.E. Prime Properties.

15 Lydias Way, Northborough, MA 01532


Sale Price

BIGELOW FARM ADULT COMMUNITY Among the Youngest Units*Desired CORTLAND model in meticulous condition*Pinnacle quality & up to the minute style*All of the deluxe finishes that you'd expect from one of the area's most respected bldrs*Gracious entry w/vaulted foyer & transom opens to a spacious open floor plan*Expertly finished full-size walkout lower level wired for surround sound offers large Fam Rm & guest area w/3rd Full Bath*Incredible 1st flr Master Bdr Suite w/hardwood floors, transom window wall & Incredible Master Bath offering walk-in flush entry approx. 4’x7’ TILED shower, soaking tub & double vanity*Pleasing, neutral, upscale décor*Gleaming Granite in Baths & Kitchen*Warm Cherry w/Nutmeg finish glazed upgraded Kitchen Cabinetry*Loads of crown moulding*Skylit Screened Porch w/adjoining deck w/gas grill hookup*Exclusive common park area w/pergola & cozy fireplaced Clubhouse*So many extras including Grohe Pot filler over Dacor cooktop*Kitchen Aid Appliances.

Tags: Northborough   Real Estate   01532   Condo  
Categories: Sold Homes