Kathleen Donovan - Charlestown RI Real Estate, Richmond RI Real Estate, Exeter RI Real Estate


Buying your first home is a big endeavor, both financially and personally. Homeownership means taking on new responsibilities and bills, but it also means true financial independence.

If you’re hoping to buy a home in the near future, you might be wondering what you should be doing now to put yourself in the best position when it comes time to buy a home. Well, you’re in luck. Today’s post is a simplified list of all of the things you can be doing today to start making your way toward your ultimate goal of homeownership.

1. Pay off small debts

The first thing you’ll want to do to start saving for a down payment is to make sure you’re not pouring money down the drain to credit card companies for interest rates. If you owe small amounts of money (or less than $1,000), now is the time to aggressively pay down those debts.

The goal here is to get your credit cards to a place where you pay off your balance in full each month, avoiding interest while still earning rewards and building credit.

2. Speaking of credit…

One of the most important aspects of buying a home is your credit score. Take the time to learn about the 5 main things that contribute to your credit score and then work on ways to improve your score in those areas.

3. Don’t open any new accounts if you can help it

Once you start getting closer to applying for a mortgage, you won’t want any new inquiries on your account that are temporarily lowering your score. If you need to open a new account to lift your score, then do so well in advance of applying for a mortgage.

4. Get serious about saving for a down payment

There are a few ways to proactively save for your down payment; none of them include setting money aside when you feel like it. Start by opening a dedicated account and direct-depositing a portion of your pay into that account each week.

If you have an emergency fund in place, you might be in a position to use a CD or certificate of deposit. These give the highest earnings from interest out of any form of savings. The catch? You can’t withdraw from the account until you reach your savings goal without a penalty. If you know you won’t need to dip into these funds before they’ve matured, a CD is an excellent way to save.

5. Find out how much house you can afford

Homes are expensive. but, if it’s your first home, you might need to borrow the maximum amount form the bank to find a house that you’ll love. To find out what is a reasonable amount to spend on a home, you’ll need to consider your monthly mortgage, bills, taxes, insurance, and any other expenses. Leave yourself room for savings, emergencies, and to live a little. You won’t be able to enjoy your home much if you have to spend your days struggling to afford it.

6. Career planning is vital

A good career is a balance between stability and upward mobility. Don’t be afraid to be on the lookout for new positions with higher pay and better opportunities, even if you’re happy with your current job.

If you’ve been in your position for a while, consider asking for a raise. Research salaries for other people in your position and go to your boss equipped with data to show that show you deserve a raise.


If you've set a goal of buying your first home within the next year, there are several things you can begin doing now to set the stage for a positive experience.

While it pays to familiarize yourself with everything from your credit score to mortgage options, choosing a good real estate agent will prove to be an invaluable advantage when navigating through the process of buying a home. An experienced, knowledgeable agent will help keep you on track, prepare necessary documents for you, and answer the myriad of questions that will occur to you.

Should you choose the first real estate agent you talk to? People occasionally find a perfect fit right off the bat, but it's often a good idea to interview a couple agents before you make your final decision. Having one or two points of comparison can provide you with a wider perspective of available choices.

Not only would you want to work with a professional who has a successful track record in helping first-time home buyers, but you also want to make sure your personality is compatible with your agent's communication style and energy level. Unless you stumble on the home of your dreams on the first day, you're probably going to be spending a lot of time with them. Most real estate agents do tend to be knowledgeable, resourceful, and service oriented, but your journey will be a lot smoother and more satisfying if you sign on with an agent who's a good match for your individual needs and personality.

One of the most effective ways to prepare yourself for a real estate search is to create lists of things you need to do, have, and schedule. It's also helpful to prioritize what you want in your ideal house. By identifying and reminding yourself of the features that are most important to you, you'll have a greater tendency to recognize what you want when you see it. You'll also find yourself communicating your needs and wants more clearly to your real estate agent. As is the case with any professional or personal relationship, good quality communication usually yields the best possible results.

As a home buyer, there are many property features and priorities you'll want to ponder and discuss with your significant other. In addition to your future home's square footage, bedroom space, and number of bathrooms, you may also be interested in the reputation of school districts, the character of neighborhoods you're considering, and the amount of privacy each property affords.

Another list worth compiling before you get too far into the house hunting process is a personal budget. By seeing how your income stacks up against your monthly expenses, you'll be in a stronger position to determine a realistic price range for your next home.


The kitchen is one of the busiest rooms in a home. Not just a place to cook meals it’s also often the entrance to a home and where families gather together at the end of the day. Arguably, it’s also the most important room in the home and the one home buyers should be most astute of.

The kitchen is one of the most expensive rooms to remodel ranging between $20,000 and $50,000. Whether you’re eager for some renovation projects or looking for a move-in ready home, you’ll want to assess the level of work this room will need as your shop potential houses.

Start with perhaps the most obvious - is the room large enough for your daily needs? Is there plenty of counter space or room to expand cabinetry? Do you have a lot of kitchen tools that call for plenty of storage space or perhaps prefer an island to prep dinner at? Know what your ideal kitchen space ahead of time, especially if it is a priority, so your realtor can help you find the perfect fit.

Check that all appliances to ensure they are in working order as per the disclosure statement claims. Appliances are a big expense and you’ll want to have a good idea of what will need replacing or to be installed. Consider if they are an easy color to match when it comes time for replacement and if any are under warranty.

You’ll also want to examine the cabinetry. Check to ensure all drawers and cabinets are properly aligned and open smoothly. If they are wooden cabinets you can easily swap out hardware or change the color if you’re not a fan of the current style. However, other materials are not as convenient so consider replacement costs if you’re unhappy with the current installation.

Countertops can be another major expense. Have the granite countertops been properly taken care of? If they are laminate are they scratched or chipped? If this isn’t an upgrade you’re looking to make, be sure to look closely at what each home already has in place.

Kitchens are one of the busiest rooms in your home, especially if you love to cook. Check flooring for loose tiles, discoloration or poorly maintained wood flooring. This tells you a few things. Firstly, the quality of the materials used to build the home. And secondly, how well the house has been maintained over time.

Remodeling isn’t on everyone's list when house shopping. And with kitchen’s being one of the most expensive to renovate, this is one room you want to pay extra attention to as you view each potential home. Happy house hunting!


For homebuyers who want to do everything possible to discover their dream residences, it generally is a good idea to attend open houses. These events make it simple to analyze residences and determine whether they match or surpass your expectations.

Ultimately, there are many reasons to attend an open house, and these include:

1. You can get a first-hand look at a home.

A home listing often provides a great starting point for homebuyers. However, a listing alone fails to empower buyers with the information that they need to fully analyze a house.

By attending an open house, you can get an up-close look at a residence. An open house allows you to walk around a home and view each section of a residence at your convenience. Plus, an open house usually is stress-free, and if you don't like a residence after the event, you can simply continue your search for your dream home.

2. You can receive comprehensive home insights.

During an open house, you can gain home insights that you may struggle to obtain in a home listing. Therefore, homebuyers may want to prepare a list of questions before they attend an open house to ensure they can obtain deep insights into a home's condition.

Moreover, an open house may help you determine whether there is substantial or minimal interest in a residence. If an open house is attended by dozens of potential buyers, you may need to act quickly to submit an offer to secure this residence. Comparatively, if you are the only person to attend an open house, you may be better equipped than ever before to negotiate a home's price with a seller.

3. You can envision what life might be like if you purchase a residence.

When it comes to deciding whether a home is right for you, attending an open house is paramount. In fact, an open house enables you to envision what life may be like if you purchase a residence. And if you feel comfortable with a home after you attend an open house, you can always submit an offer to help transform your homeownership dream into a reality.

If you plan to attend open houses in the foreseeable future, there is no reason to attend these events alone. Fortunately, real estate agents are available who can help you prepare for open houses and ensure you can discover your dream residence.

A real estate agent is a housing market expert who can teach you everything you need to know about buying a home. This housing market professional first will learn about your homebuying goals and craft a personalized homebuying strategy. Then, a real estate agent will keep you up to date about open houses, offer homebuying insights and do everything possible to help you find a home that you can enjoy for years to come.

Reach out to a real estate agent today. By doing so, you can start attending open houses and boost the likelihood of a successful homebuying experience.


If you want to enjoy a successful homebuying experience, it may be beneficial to hone your house search to residences in a select group of cities and towns. That way, you can speed up the process of finding and buying your dream residence.

Now, let's take a look at three tips to help you narrow your house search.

1. Review Your Short and Long-Term Goals

Consider your immediate and long-term goals. By doing so, you can focus on finding a home that falls in line with your aspirations.

For instance, if you want to work in the big city, you may want to search for residences in or near the city itself. On the other hand, if you have children, you may want to explore houses near top schools and parks.

Be flexible as you consider homes in assorted cities and towns, too. If you are open to homebuying opportunities in different areas, you may be able to quickly find a great residence at a budget-friendly price.

2. Obtain a Mortgage

With a mortgage in hand, you'll know exactly how much you can spend on a house. Then, you can narrow your home search to residences that correspond to your budget.

Meet with a variety of banks and credit unions, and you can get pre-approved for a mortgage. Banks and credit unions employ friendly, knowledgeable home financing specialists, and these professionals can help you determine which type of mortgage will suit you perfectly.

Also, you may want to ask questions as you review your mortgage options. Home financing specialists at banks and credit unions are happy to reply to your mortgage questions, and ultimately, help you make an informed mortgage selection.

3. Consult with a Real Estate Agent

Finding a home in a particular city or town may be tough, especially if you try to navigate the real estate market on your own. Conversely, if you hire an real estate agent, you can get the help you need to discover your dream house.

A real estate agent is a homebuying expert who will go above and beyond the call of duty to transform your homeownership dream into a reality. He or she first will learn about your homebuying goals and budget. Next, a real estate agent will provide you with details about available homes in myriad cities and towns. A real estate agent then will help you kick off a home search so you can locate your ideal house.

Of course, once you discover your dream home, a real estate agent will help you submit a competitive offer to purchase this residence as well. And if your homebuying proposal is accepted, a real estate agent will devote the necessary time and resources to ensure you can immediately finalize your home purchase.

Take the guesswork out of finding your dream residence – use the aforementioned tips, and you can boost the likelihood of acquiring a terrific house that you can enjoy both now and in the future.




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