The homebuying process can feel daunting, but it’s important to remember that there are countless resources across the Commonwealth to support first-time homebuyers. For Terra and her husband, they used all their resources to successfully buy their first home in only three months!
When their townhome’s renewal in Chestnut Hill included a rent increase, Terra and her husband decided that it was time to start their homebuying journey. “I had finished my graduate degrees, and my husband mainly works from home. We are lucky to have a lot of flexibility, and we could move somewhere further west… I just thought, ‘we could be spending this money on a mortgage and not just rent.’”
Terra had originally learned about Homebuying 101 classes while she was living in Maine. She decided to take the leap and enroll in Allston Brighton CDC’s June 2024 class. “I liked that there was a virtual option. All of our questions were answered in the chat function.” Terra also remarked that the virtual class made her feel confident to engage and ask questions. “Something I loved about the Homebuying 101 class was that it felt like all the presenters were passionate and wanted to be there. I felt like they wanted everyone to succeed. The virtual chat made asking questions really approachable and I feel like even if I took the class myself, I would have felt comfortable asking any question.”
After completing the three sessions, Terra and her husband realized that the pre-approval process was fairly simple and they decided to take the next step. They were pre-approved for a mortgage in only one day and started to look at houses on Zillow to get a sense of what they wanted for their first home.
Another important aspect of their homebuying journey was utilizing downpayment assistance from MassHousing. “That downpayment assistance program is a lifesaver… (MassHousing’s staff) were extremely helpful and it was great to have people who are educated about the homebuying process help us.”
They found a Real Estate agent and in early July and went to 13 open houses over one weekend. “We wanted to see as many houses as possible in a short period of time.” The couple fell in love with a 1950’s home in East Longmeadow and decided to put together an offer. “I felt more comfortable looking for houses in this area because houses in Western MA tend to sell slower and we felt like we could take our time to think.” Their offer was accepted within 24 hours, contingent on the completion of a home inspection.
“One of our favorite parts of the Homebuying 101 class was the section about the home inspection. I learned so much and the home inspector in the class gave us a set of questions that we should ask during our own home inspection. I brought those out and I felt like I had so much confidence during this step in our process.”
By mid-August, Terra and her husband had moved into their new home! “Homebuying 101 honestly changed my life. I learned so much and I felt so confident. Even if we hadn’t decided to buy a home so quickly, we felt like we would know what questions to ask down the line.”
When asked about advice for other first-time homebuyers, Terra reiterated that folks should take a homebuying class, even if they just have an inkling that they want to buy down the road. “The certificate that you get from a Homebuying 101 class is good for three years so even if you’re not ready right now, take the class!”
She also wants to remind other homebuyers to vet your homebuying team before deciding to work with anyone. “Your realtor works for you! Talk to multiple agents, lawyers, and inspectors to find someone who really cares and who you want to work with.”
Finally, Terra wanted to remind folks that they should take advantage of the resources that are available. “We didn’t decide to enroll in Housing Counseling since the process went to quickly, but it’s a great resource. People can get personalized advice on the homebuying process or can even get help repairing their credit.” It’s important to remember that there are amazing organizations across the Commonwealth focused on supporting first-time homebuyers. No matter if you want to buy a home now or if you’re just trying to see if homeownership is right for your family, use your resources! Homeownership is achievable and whether you work with Allston Brighton CDC or another homeownership organization, we want to see everyone succeed and make their dreams of homeownership a reality.
Congratulations to Terra and her husband on buying their first home! Check out our upcoming homeownership workshops today or check out our list of homebuying resources to learn more.