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Massachusetts homeowners and prospective home buyers should expect to see thousands more accessory dwelling units (ADUs) in neighborhoods throughout the state in the coming years after the signing of a new law.
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(978) 835-5906
Aug 19, 2024 10:39:44 AM
Massachusetts homeowners and prospective home buyers should expect to see thousands more accessory dwelling units (ADUs) in neighborhoods throughout the state in the coming years after the signing of a new law.
Topics: Home-buying Tips, Community Information, Real Estate Misc., Real Estate Law, Homeowner Tips
Aug 16, 2024 10:06:01 AM
An accessory dwelling unit (ADU) is not a new concept. ADUs have been around in some form in the United States for nearly as long as housing.
Topics: Home-buying Tips, Real Estate Misc., Real Estate Law, Homeowner Tips
Apr 29, 2022 5:31:33 PM
Flooding is not only the most common natural disaster in the United States. It is also one of the most costly.
Topics: Home-buying Tips, Real Estate Misc., Homeowner Tips
Apr 10, 2022 1:03:30 PM
For many of us, smart technology for the home has given us better efficiency, improved security, and more comfort in our everyday lives.
Topics: Home-buying Tips, Real Estate Misc., Homeowner Tips
Apr 13, 2018 9:15:55 AM
Massachusetts Governor Charlie Baker wants homeowners to provide an energy scorecard and rating to potential homebuyers. The Massachusetts Association of Realtors (MAR) does not like the proposed legislation. Whether homebuyers care one way or the other remains uncertain.
Topics: Home-buying Tips, Massachusetts Association of Realtors, Real Estate Misc., Homeowner Tips
Nov 27, 2017 11:47:16 AM
Nearly 30 percent of homes in Massachusetts are heated with oil, and homebuyers are often responsible to pay for any oil remaining in the oil tank at the time of closing.
Topics: Home-buying Tips, Real Estate Misc., Homeowner Tips
Dec 20, 2016 12:45:13 PM
New Massachusetts regulations, in effect as of December 1, 2016, require replacement of old and expired smoke alarms.
Topics: Real Estate Misc., Homeowner Tips
Nov 5, 2013 6:54:00 PM
Massachusetts home buyers should know home inspectors do not check smoke detectors and carbon monoxide detectors during a home inspection; however, state law requires home sellers have smoke detectors and carbon monoxide detectors checked by their local fire department before the sale of their home.
Despite the comfort of knowing that the local fire department has inspected smoke detectors and carbon monoxide detectors for code violations before they purchased their home, new home buyers – now homeowners – can further protect themselves by considering the following fire safety tips at home.
No one thinks a fire at home will happen to them, yet according to data from the Massachusetts Fire Incident Reporting System, there were 31,229 fires reported in Massachusetts during 2012 that caused 39 civilian deaths, 322 civilian injuries, 531 fire service injuries and an estimated $257 million in property damage.
Topics: Home-buying Tips, Real Estate Misc., Homeowner Tips
Sep 19, 2013 9:43:00 AM
Many Buyers assume that when they purchase a property, it will be delivered clean and move-in ready. That is not always the case.
In Massachusetts, properties are sold “as-is.” Unless there is specific language to the contrary in a contract / offer to purchase or a purchase and sale agreement, a buyer purchases a property in the condition that it is in at the time the contract is signed, wear and tear notwithstanding. There is nothing that requires a seller to remove trash and debris and/or clean the property prior to the closing. The condition of the property at the time of closing needs to be agreed upon in advance.
Topics: Home-buying Tips, Real Estate Law, Homeowner Tips
May 12, 2013 10:26:00 AM
The National Association of Home Builders (NAHB) publishing arm recently released a study of what home buyers want in a home.
"The housing downturn of the last few years affected not only the number of new homes that are built each year, but also the characteristics, features and size of the ones that do get built. Builders and other industry professionals now have an opportunity to find out what home buyers really want and will not give up in today’s market, as well as which features they are ready to leave behind in light of current economic realities," according to the NAHB study released February 19, 2013.
Topics: Home-buying Tips, Real Estate Misc., Homeowner Tips, New Construction
Mar 8, 2013 9:45:00 AM
Massachusetts home buyers calculating the total cost of homeownership may need to remove the potential for tax breaks to repair or replace a septic system and/or for removal of lead paint.
As part of a package of tax increases and the elimination of a variety of tax breaks, Massachusetts Governor, Deval Patrick, hopes to raise $1.9 billion annually in revenue. Two of his proposals are to eliminate the lead paint tax credit and the septic system repair / replacement credit.
Topics: Home-buying Tips, Massachusetts Association of Realtors, Real Estate Misc., Homeowner Tips
Feb 16, 2013 1:56:00 PM
For those Massachusetts home buyers that have benefited or will benefit from purchasing a home at prices at or near the bottom of the real estate market, they may have to share their good fortune with the Commonwealth of Massachusetts, if a proposal by Governor Deval Patrick is enacted by the legislature.
As part of a package of tax increases and the elimination of a variety of tax breaks, Governor Patrick hopes to raise $1.9 billion annually in revenue. One proposal is to eliminate the capital gains tax exemption on home sales.
Presently, Massachusetts follows federal tax law in exempting up to $500,000 in capital gains on the sale of homeowners primary residence. Governor Patrick's proposal to the eliminate capital gains exemption is in conjunction with raising the income tax from 5.25 percent to 6.25 percent, effectively raising the capital gains rate to 6.25 percent.
For example, if a homeowner sells a home after livng in it for a number of years for a gain of $200,000, that homeowner will have $12,500 in tax liability.
Topics: Home-buying Tips, Massachusetts Association of Realtors, Real Estate Misc., Homeowner Tips
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