Expert: Matt Heisler - 1/13/2009

Question
Hello Matt,  I live in Framingham and interested in buying a condo.  However, I have no idea where to start. I don't know anything about buying any type of property or where to go to get proper advice in making such a big commitment.  I'm 25 yrs old and have good credit.  One of my big concerns is my income.  I only make $28000 a year.  Is it possible for someone like me to make this kind of investment? I hate to say that I'm alone in this quest because my fiance has terrible credit and I feel the rest of my family would just discourage me.  Can you lead me in the right direction?

Answer
Hello Maria:

It is possible, but it is difficult.

The steps you want to make are as follows:

1) You want to find out your budget; It's probably going to be around $100,000.
2) Find an agent.  Happily, I work in your area.  If you'd like, please contact me directly and we can discuss what you need to do in more detail.
3) Discuss your needs, apply budget, set expectations, and shop.

It's a tough budget.  But, if you feel you have job security, and want to start saving for the future, buying a house is really the single best way.  There are rates as low as 4.5%, and most of the agents I know feel the rebound is already happening.  Paying yourself rent - and not a landlord - can be a great step in the right direction.  Let me know if I can be of more assistance.

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Matthew D. Heisler
Heisler & Mattson Properties
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508.925.4626 (o)
617.755.3190 (c)
matt_heisler@heislerandmattson.com
http://www.bjheisler.com