The St. Martin Team - Westford MA Real Estate
Westford Massachusetts | 978-935-9500 | Info@StMartinTeam.com



Posted by St. Martin Team on 12/6/2018

Buying your first home is a big decision; one that involves a lengthy process of saving money, building credit, and planning the next phase of your life. However, owning a home comes with one major payoff: home equity.

Simply put, home equity is the amount of your home that youíve paid off. However, it does get more complicated when we bring in factors like the market value of your home and how it shifts over the years.

In this article, weíll discuss home equity and what it means for you as a homeowner. This way, youíll have a better idea of what to expect when you finally make that last payment on your home or when you decide to sell.

Home equity and market value

As I mentioned earlier, home equity is more than just the amount youíve paid toward your mortgage. Like most markets, the housing market shifts over time.

Most homes slowly increase in value over time. In the real estate world, this increase in value is called appreciation.

However, that doesnít mean that your home is simply going to increase in value indefinitely until you decide to sell. As you will find out (if you havenít yet already), owning a home can be expensive. Houses age and require upgrades. If you fail to keep up with the maintenance of your home, its value can diminish.

How to build equity

The most important thing you can do to build equity is to make on-time payments to your mortgage. Making extra mortgage payments will help you build equity even faster.

One method of paying extra on your mortgage that many people are adopting is to make bi-weekly payments. Twenty-six bi-weekly payments comes out to 13 full payments per year, the equivalent of making one full extra monthly payment.

The second method of building equity is something that you have less control over: appreciation. However, if you stick to a maintenance schedule for your home and keep it in good repair, youíll most likely benefit from appreciation over the lifespan of your mortgage.

What can I use home equity for?

The most common way to use home equity is as a down payment or full payment on your next home. First-time buyers who donít have a 20% down payment saved often buy a starter home and then later upgrade as their family grows and their needs change. In the years that they own their first home, they build enough equity to make a full down payment on their second home, avoiding fees like mortgage insurance.

Many homeowners planning on retiring in the near future use their equity toward their retirement home, often turning a profit in the process. If you plan on downgrading for retirement and have fully paid off your mortgage, you can often use your equity to pay for your next home in cash.





Posted by St. Martin Team on 12/4/2018


44 Newport Dr, Westford, MA 01886

Nabnasset

Single-Family

$419,900
Price

6
Rooms
3
Beds
1
Baths
Home, Sweet Home! This 3-bedroom ranch-style home in a popular neighborhood setting offers a formal living room with masonry fireplace, recessed lighting and picture window, a kitchen with gas cooking, plenty of cabinet space, a breakfast bar that opens to dining room, and a full bath with granite vanity. There's additional living space in the lower level, and laundry/utility room and storage space is located here too. Refrigerator (new in 2018), washer & gas dryer included with sale. Additional features include a built-in whole-house gas generator, central AC, vinyl replacement windows, irrigation system, a storage shed, and a 12x15 deck overlooking wooded back yard. Water frontage allows for kayak and canoe access to Nabnasset Lake. Excellent public school system and convenient to commuter routes and tax-free NH shopping!
Open House
Sunday
December 09 at 11:00 AM to 12:30 PM
Cannot make the Open Houses?
Location: 44 Newport Dr, Westford, MA 01886    Get Directions

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Posted by St. Martin Team on 11/30/2018


56 Chapman Street, Dunstable, MA 01827

Single-Family

$624,900
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
Construction under way! Introducing one of Dunstable's newest subdivisions ~ River's Edge ~ a brand-new 18-lot cul-de-sac neighborhood of quality-built homes by Bentley Building Corporation, beautifully set next to the Nashua River Rail Trail and close to the New Hampshire border for convenience to restaurants, entertainment and tax-free shopping. Groton-Dunstable regional school system. This lot features the New Manchester model with a two car garage. First floor is built with an open floor plan, great for entertaining, large eat-in kitchen and family room with a fireplace. Master bedroom with private bath and walk-in closet plus 3 large bedrooms. Still time to make your own selections or choose your lot today and get started with choosing your model and options for customizing.
Open House
Saturday
December 01 at 11:00 AM to 12:30 PM
Cannot make the Open Houses?
Location: 56 Chapman Street, Dunstable, MA 01827    Get Directions

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Posted by St. Martin Team on 11/30/2018


24 Chapman Street, Dunstable, MA 01827

Single-Family

$624,900
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
Construction under way! Introducing one of Dunstable's newest subdivisions ~ River's Edge ~ a brand-new 18-lot cul-de-sac neighborhood of quality-built homes by Bentley Building Corporation, beautifully set next to the Nashua River Rail Trail and close to the New Hampshire border for convenience to restaurants, entertainment and tax-free shopping. Groton-Dunstable regional school system. This lot features the New Manchester model with a two car garage. First floor is built with an open floor plan, great for entertaining, large eat-in kitchen and family room with a fireplace. Master bedroom with private bath and walk-in closet plus 3 large bedrooms. Still time to make your own selections or choose your lot today and get started with choosing your model and options for customizing.
Open House
Saturday
December 01 at 11:00 AM to 12:30 PM
Cannot make the Open Houses?
Location: 24 Chapman Street, Dunstable, MA 01827    Get Directions

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Categories: Open House  


Posted by St. Martin Team on 11/29/2018


8 Tolkien Ln, Tyngsborough, MA 01879

Single-Family

$489,900
Price

7
Rooms
3
Beds
2/1
Full/Half Baths
Don't miss this meticulously maintained home nicely set at the end of a cul de sac at the Villages at Maple Ridge, a 55+ community of free-standing homes. Quality features and custom finishing throughout: tiled foyer, large family room with soaring ceiling, dining area & sliders to deck overlooking private, wooded back yard, a home office with built-in cabinets & shelving, kitchen with granite counters, gas cooking, recessed lighting, a mud room area with pantry, storage and laundry. First floor master suite offers a spacious bedroom with walk-in closet and a large master bath with separate shower stall, soaking tub and granite vanity with double sink. Two additional bedrooms and another full bath on the second floor, as well as 400+sq.ft. of unfinished storage space. Huge walk-out basement offers tons of storage/work space and potential for future finishing. Convenient to commuter routes and tax-free NH shopping.
Open House
Sunday
December 02 at 12:00 PM to 1:30 PM
Cannot make the Open Houses?
Location: 8 Tolkien Ln, Tyngsborough, MA 01879    Get Directions

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