Buying Your First Home on the North Shore? Do These Six Things Before You Tour

The first-time buyers who do best on the North Shore aren't the ones who tour the most houses. They're the ones who show up to their first showing already knowing what they can spend, what they need, and what a good offer looks like.

Here are the six things I'd do before touring, in order.

1. Clean up your credit and debt

Before a lender pulls your credit for a full pre-approval, look at what you can improve:

• Pay down revolving balances, especially credit cards close to their limits.
• Don't open new accounts or finance a car in the months before you buy.
• Fix errors on your credit report.

A buyer I spoke with recently was doing exactly this: paying down some debt to improve a partner's credit before the full pre-approval. That's the right order. A better score can mean a better rate, and small rate differences add up over 30 years.

2. Get a real pre-approval

A pre-qualification is a conversation. A pre-approval means a lender has reviewed your income, assets, and credit. Sellers take it seriously; they don't take a pre-qualification seriously.

Ask the lender about:

• Loan programs you qualify for, including first-time buyer and state programs.
• Down payment options. FHA loans, for example, allow as little as 3.5% down for qualified buyers.
• Your estimated cash to close, not just the down payment.

3. Set your monthly number, not just your maximum

A pre-approval is a ceiling, not a target. The lender tells you what you can borrow. Only you can decide what you're comfortable paying every month, with room left for savings, repairs, and life.

Your monthly number should include principal, interest, property taxes, homeowners insurance, mortgage insurance if any, and condo fees if any.

4. Decide what kind of property you're looking for

Condo, single-family, or multifamily? Each can be a great first purchase for the right person. I broke that decision down in detail here: Condo vs. single-family vs. multifamily.

If you're handy, also decide how much work you're willing to take on. One buyer I worked with runs a painting and remodeling business, so a fixer-upper with good bones made sense, since sweat equity was part of the plan. For most first-time buyers, I'd be more careful about how much renovation you can realistically finance and do.

5. Write your list: needs, wants, and dealbreakers

• Needs: bedrooms, commute, budget, parking, schools if relevant.
• Wants: yard, garage, updated kitchen, walkability.
• Dealbreakers: busy road, no parking, a big condo fee, a flood zone.

Then set up property alerts that match the needs, not the wants. You'll see the right homes faster, and you won't miss the ones that go quickly.

6. Learn the process before you need it

Know how an offer, inspection, purchase and sale agreement, and mortgage commitment fit together in Massachusetts. That way, when you find the right house, you can move in a day instead of a week. Here's the step-by-step roadmap.

What does this look like when it works?

A couple I worked with wanted their first home to be a multifamily in Malden. We spent time on the process and the numbers before we looked at listings. By the time they were shopping, they knew what a good deal looked like, and they closed on their first home, a multifamily, in January 2025. Here's their story.

Questions people actually ask.

How much do I need to buy my first home in Massachusetts?

It depends on the loan program and price. Some programs allow as little as 3.5% down, and there are Massachusetts first-time buyer programs. You'll also need closing costs and deposits, so ask a lender for an estimate of your total cash to close.

Should I get pre-approved before looking at houses?

Yes. It tells you your real budget and makes your offers credible. Sellers often won't consider an offer without one.

Is it better to buy a condo or a house as a first-time buyer?

It depends on your budget, lifestyle, and plans. A condo can get you into a better location for less; a single-family gives you more control; a multifamily can add rental income. Fit matters more than property type.

Are there first-time home buyer programs in Massachusetts?

Yes. Programs from MassHousing and some local assistance programs may help with down payment or rates, depending on income, price, and location. Ask your lender which you qualify for.

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This article is general information about Massachusetts real estate, not legal, tax, or financial advice. Every property and transaction is different. For advice on your situation, talk with me and, where appropriate, an attorney, lender, or tax professional.