Paul Conti - Paul Conti Real Estate Burlington MA real estate listings and homes for sale


Buying a home as a single individual comes with its own set of unique experiences and challenges. Some are to be expected, like financing with a single income. While others not so much, like a more competitive market.

You know that financing will be based on your sole income. However, the vast majority of homeowners are couples who have dual incomes. Your eligibility is going to be very different than that of a couple and for some home buyers when they receive a lower number this comes as a shock. Expect to see numbers that are on the lower side of those who apply as couples.

Since you are on a sole income you may want to look into various loan types such as those that offer low-interest rates and lower down payments. Two to look at are first-time buyers programs and FHA loans.

When comparing options watch the lenders fee in comparison to the interest rate. Where you may have low-interest rate it might come with a higher lender fee. Do the math on these ratios to get a true value of each.

Before applying for mortgage approval, clean up your budget and handle any existing debts, especially expensive ones. Pay off card balances, refinance student loans, and swap out expensive monthly car payments for one that is more reasonable.

Draw up a budget and get really clear on just how much house you can afford month to month. Include the cost of house ownership and maintenance in your budget in addition to the cost of future monthly mortgage payments.

As a sole earner having savings is incredibly important as you don’t have a second income to rely on. In addition to setting aside your down payment (as close to the recommended 20% as you can), build up a nest egg of three to six months worth income should anything misfortune arise.

Start the buying process well prepared with the right mindset. Smaller houses make up a lower percentage of the housing market and cheaper homes are competitive when it comes to the buying process. Be ready for a search that might go a little longer and a buying process that needs you to move a little faster than traditional ones.

Bring a trusted friend or family member with you to home viewings to have a sounding board for your decision process. It’s easier to get swept away emotionally when you don’t have a partner to hash out the gritty details with. Find someone who can come to each viewing with you so that you can compare the different homes pro’s and con’s together.

Buying a home as an individual is a unique process but it doesn’t have to be a difficult or lonely one. Ask for feedback from your realtor, bring a trusted friend and know what to expect from the buying process as a sole income earner.


This Single-Family in Billerica, MA recently sold for $525,000. This Gambrel style home was sold by Paul Conti - Paul Conti Real Estate.


16 Allendale Ave, Billerica, MA 01821

Single-Family

$499,999
Price
$525,000
Sale Price

6
Rooms
3
Beds
2/1
Full/Half Baths
Located near the Burlington Line in the Ditson School District you will find this immaculate, 2011 built Gambrel style Colonial ideally situated just minutes to highways, shopping, restaurants and more. Beautiful & spacious sun-filled 3-bedroom, 2.5 bath featuring pristine hardwood flooring, a massive eat-in kitchen w/dining area complete with granite & copious cabinet space, formal dining and spacious first floor living room complete with central air & irrigation system. The top level offers 3 generous bedrooms including a master w/walk-in and bath offering double vanities and shower/tub. The lower level has a finished mud room plus a finishable storage/utility room and oversized 2 car garage with walkout plus a driveway for 4 additional cars.

Similar Properties



Buying a retirement home is a big decision. And doing so before you retire is a smart decision. However, you’re also in a completely different place than you will be when you’re retired or as you age. You don’t know what the future holds. It’s easy to take our mobility for granted until we lost it. There are a few things you should look for in a home to plan for the future and whatever it may hold.

Many empty-nesters look to downsize when buying their next home. And this very well might be the perfect option for you. But first, consider how often and how many guests you may want to have over at a time. Will you host holiday dinners or want to have room for grandchildren to stay for the night? If you have a large family or one that is growing many couples find they want the room to host dinners or have a pull-out couch.

You’ll also want to plan ahead for the future when choosing the size and layout of your new home. Even if you downsize it’s wise to put wide hallways and a single floor plan on your wishlist as you house hunt. If either of you has mobility limitations in the future you’ll be glad to have such an accessible home.

The lower your monthly payments on your new mortgage, the better. But more ideally you’ll want to consider homes in a price range that allow you to pay in full. Again, keeping retirement in mind keeping bills to a minimum so that either one of you can cover all costs on one sole income could save you from hardship down the line. Retirement is very different from what it used to be, often many people find themselves needing to take on part-time work to get by. Keeping expenses well below your monthly income can help to ensure you can spend your retirement years enjoying life in the way you want to.

In general, when planning retirement it’s best to live below your means. Not only do you want to account for inflation costs but also for any unexpected large expenses that could crop up such as home repairs, emergency care, or car maintenance. Having an idea of what your future budget will be as well as your current one will help you make the best decisions for the years ahead now.

Buying a retirement home can save you money in the long run on bills like heating and electric. However, house hunting for the perfect home entails a lot more decisions that many couples realize. Remember to plan for your life both now and later when putting together your must have features for your new home.



46 Washington Ave, Burlington, MA 01803

Rental

$2,800
Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Wonderful opportunity to rent a single family home in one of Burlington's most sought after neighborhoods! This location offers great access to public trans, 3rd Ave, Lahey, the mall, Wegmans, the District , rtes 128 & 3 and so much more yet is nestled on a quiet side street. This spacious 3 bedroom 2 bath home offers many upgrades including hardwood floors, updated baths, newer interior doors and boasts 2 fireplaces (one with gas insert), gas heat and central air, a private, fenced yard and large mahogany deck. The lower level offers a large family room, office and second bath plus separate laundry room...Ample off street parking plus a garage and more!
Open House
No scheduled Open Houses

Similar Properties




26 Old Colony Rd, Burlington, MA 01803

Single-Family

$675,000
Price

10
Rooms
5
Beds
3
Baths
Looking for a large home that offers lots of options for an extended family or in-law plus a potential, rentable accessory apartment to help subsidize the mortgage? This versatile home may be perfect for your family. Purchased in 1967 and loving maintained by the same family is this expanded ranch sited on a very deep lot which afforded the ability to add a 66x24 addition consisting of an in-law apartment and 2 car garage with additional (42x19) storage area that can be finished, a lovely farmer's porch and so much more. 6 potential bedrooms, 3 full baths, 2 kitchens plus a potential 3rd, 2 washer/dryer hookups newer central air, hardwood flooring, recent siding, insulation and so much more. Just steps from public trans and walking distance to town center, the library and so much more. See attached floor plan, plot plan and special feature sheet. The lot extends way back...the above ground pool, basketball court and shed are all on this lot.
Open House
Saturday
April 06 at 12:30 PM to 2:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 26 Old Colony Rd, Burlington, MA 01803    Get Directions

Similar Properties





Loading