To Do List for Buying a House in Massachusetts

Choose where to buy your Massachusetts home

The first thing to consider before buying a home in Massachusetts is location. This may be largely influenced by where your work or family is, but if you’re flexible there are a few things to think about.

Density

The first is density - Massachusetts in the 3rd densest state in the country, but the majority of this density is in the eastern half of the state, centered around metropolitan areas like Boston, Lowell, Fall River, and Worcester. Springfield is the largest city in the western half of the state, followed by Pittsfield, but the surrounding areas are much less dense and much less suburban than those surrounding the cities in the eastern half. 

Accessibility

Another important consideration is accessibility. The Massachusetts Turnpike (I-90) runs east/west across the entire state, but is entirely in the southern half through Springfield, Worcester, and into Boston. Major north/south highways include the inner urban ring of 93/95 which contains Boston and its suburbs, the outer ring of 495 which contains the North and South Shores and the towns east of Worcester, and 91 coming from Hartford, through Springfield and Amherst, and into Vermont.

This means there is less direct access to the northwestern and central parts of the state, and access to some areas like Cape Cod are limited by geography (the Cape is narrow and the only access points are two bridges which means traffic can be bad, especially in the summer). In the end, all roads lead to Boston, which has New England’s busiest international airport in Boston-Logan, the MBTA public bus and subway transit service, ferries along the coast, and railways leading north, west, and south. 

Price

Of course, the ultimate variable in your decision might be price. You’ll be hard pressed to find a house inside I-95 for under $500k, and prices in particularly affluent suburbs like Newton and Lexington can be in the millions. Homes in the smaller cities like Lowell, Worcester, and Fall River and their surrounding areas are significantly lower ($200-400k). As a general rule, prices will increase the closer you get to Boston and the coast. 

Work with a Massachusetts realtor

The benefits of working with a realtor are in their expertise; they know the ins and outs of the market and the home buying process. A realtor can help you identify when something is unusual about a listing or point out a good deal, help you determine the best use of your time and energy, and guide you toward what kind of information to seek from sellers. Realtors will likely also have access to listings that aren’t available through online searches, which can provide a competitive edge in a crowded market. A realtor is a professional home buyer on your team.

Getting pre-approved for a mortgage

Getting pre-approved for a mortgage is an important step in determining your realistic budget so you don’t waste time looking at homes you can’t afford. The lender will want to look at all of your finances - bank statements, credit report, tax returns, etc - and you may find it beneficial to work with a mortgage broker to guide you in this process. Most banks will issue loans, but since the 2008 housing crisis the majority of mortgages have been issued by non-bank lenders like Quicken Loans and PHH Mortgage who are often able to offer more flexible terms than the banks. Some local options for pre-approval include Cambridge Savings Bank, East Cambridge Savings Bank, Cambridge Trust, Cambridge Mortgage Inc, and the Cambridge Lending Group. 

Making your home offer

Once you’ve found a home you like, your realtor will help you make a written offer. This will include information such as total offer price, initial deposit, execution deadlines, and contingencies like mortgage approval and inspections.

The housing market in Massachusetts is highly competitive, so it’s common for sellers to receive multiple offers at once - often over asking price. The seller may then come back with a counteroffer. However, price isn’t the only factor for sellers; certain bids may be more attractive if the seller thinks the buyer is a better fit for the property or if they want to help a young family purchase their first home, for example.

Your realtor will help you decide how to package your offer in the way that provides the best chance of acceptance, but don’t get discouraged if your bid is rejected. The home buying process can take some time and it may take several attempts to be successful.

Getting a Massachusetts home inspection

One of the main contingencies for purchase should be a home inspection - you don’t want to get into a situation where you discover something wrong with the property after you’ve bought it.  A licensed inspector will check for any structural, plumbing, or electrical issues as well as pests, mold, and radon. Anything they find might change your offer or lead to further negotiation with the seller. Once you’re satisfied with the inspection, you’re a Purchase & Sales Agreement away from closing and owning a home in Massachusetts.