Tony Economou - RE/MAX Advantage I

Posted by Tony Economou on 11/16/2017

Sooner or later, just about everyone invests in a major home remodeling project, like redoing a bathroom or updating a kitchen. Those kinds of changes almost always have a transformative effect on the appearance, value, and marketability of your house.

However, if you own a recently built home or simply aren't ready to spend $15,000 (give or take) for a major remodeling project, then there are still plenty of less expensive ways to make big improvements.

A piecemeal, but cohesive approach to upgrading and redecorating your home can spread out the cost for you, without having to wait years to enjoy the results. The perfect example is replacing outdated kitchen counter tops, sinks, and/or cabinets. If your kitchen cabinets look like they've been around since the era of black-and-white TV, then it might be time to replace or reface them. Refacing cabinets is an option many people consider because it's typically less expensive and time consuming than a full replacement. The finished result, however, can be almost as impressive as getting new cabinets. With a little imagination, small touches like a new back splash, cabinet pulls, or even a fresh coat of paint can breath new life into the appearance of your kitchen area.

But Where to Begin?

If you're unsure what area of your home to prioritize for redecorating or remodeling, the kitchen is often a good place to start -- especially if it's a frequent gathering place for family and friends. Bathrooms are another area of the house that are typically in dire need of some TLC. If one or more of your bathrooms are looking outdated and worse for the wear, there are many ways to spruce it up without having to spend a bundle of money. Repainting the walls and ceiling, installing a new sink and vanity, or even putting in fancy new faucets can help invigorate a tired looking bathroom.

Here's a simple fix: Replacing faded old bath towels with fluffy, colorful new ones is another small, but effective way to upgrade the look and feel of your bathroom. Another inexpensive way to upgrade the appearance of your bathrooms is to clean the dirty, discolored grout between your tiles. You can either hire a professional service to get it done or tackle the job yourself.

From a curb appeal standpoint, some relatively inexpensive enhancements you can make include repainting your front steps, replacing an old front door with a snazzy new one, or simply washing the outside of your house and windows. It doesn't take more than a few seasons of weather changes and other conditions for environmental pollutants, pollen, dust, bird droppings, and splatters of mud to give your house a very unappealing grunge look!

If your home improvement budget is too tight, right now, to invest in new counter tops, bathroom vanities, new kitchen appliances, and cabinet work, remember that a series of small changes done over a period of time can significantly enhance the appearance and beauty of your home -- both inside and out!

Posted by Tony Economou on 11/9/2017

There are so many factors that go into finding and securing the financing to buy a home.   While lenders require quite a bit of information for you to get a loan, you still need to be aware of your own financial picture. Even if youíre pre-approved for a certain amount of money to buy a home, you still need to dig into your finances a bit deeper than a lender would. The bottom line is that you can't rely solely on a lender to tell you how much you can afford for a monthly payment on a home. Even if youíre approved to borrow the maximum amount of money for your finances to buy a home, it doesnít mean that you actually should use that amount. There are so many other real world things that you need to consider outside of the basic numbers that are plugged into a mortgage formula.   

Run Your Own Numbers

Itís important to sit down and do your own budget when youíre getting ready to buy a home. You have plenty of monthly expenses including student loan debt, car payments, utility bills, and more. Donít forget that you need to eat too! Think about what your lifestyle is like. How much do you spend on food? Do you go out to the movies often or spend a regular amount of cash on clothing? Even if you plan to make adjustments to these habits when buying a home, youíll want to think honestly about all of your needs and spending habits before signing on to buy a home. 

Now, youíll know what your true monthly costs are. Be sure to include things like home insurance, property taxes, monthly utilities, and any other personal monthly expenses in this budget. If you plan to put down a lower amount on the home, youíll also need to include additional insurance costs like private mortgage insurance (PMI).

The magic number that you should remember when it comes to housing costs is 30%. This is the percentage of your monthly income that you should plan to spend on housing. Realistically, this could make your budget tight so this is often thought of as a maximum percentage. By law, a lender canít approve a mortgage that would take up more than 35% of your monthly income. Some lenders have even stricter requirements such as not allowing a borrower to have a mortgage that would be more than 28% of monthly income. This is where the debt-to-income ratio comes into play.

As you can see, itís important to take an earnest look at your finances to avoid larger money issues when you buy a home.  

Categories: Uncategorized  

Posted by Tony Economou on 11/6/2017

This Single-Family in Worcester, MA recently sold for $303,500. This Ranch style home was sold by Tony Economou - RE/MAX Advantage I.

16 Herbert Road, Worcester, MA 01602

West Side


Sale Price

Full/Half Baths
COMFORTABLE, ELEGANT AND BRIGHT ranch with 40 plus years of love and enjoyment. Entertain in the formal living room with its beautiful wood burning fireplace, a great place to sit and enjoy during those cold winter nights. The formal dining room opens to the living room and also opens to the family room through a beautiful set of French doors. The family room features a built-in entertainment center and a propane fired fireplace. The kitchen boasts cherry cabinets, granite counters, xenon under cabinet lights as well as its own dining area. The lower level has a large main room for all to enjoy, a laundry area nicely set off to the side and behind louvered doors with a washer, dryer and a double soap stone sink. Two additional rooms, a home office and half bath round out the basement. The hardwood floors are beautiful, the roof is 12 years old and is covered with architectural roof shingles, there are vinyl replacement windows & the furnace and Roth oil tank are brand new.

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Categories: Sold Homes  

Posted by Tony Economou on 11/2/2017

Buying a house is not a non-reversible decision. If you discover that you bought a house in the wrong neighborhood, you could put your house on the market. How long it would take to find a buyer and actually sell your house depends on a variety of factors.

These factors could make you regret owning a house

To sell your house, you would be at the mercy of local and national economies. Interest rates, bank lending appetite and the overall real estate market are other factors that would impact your chances of selling your house.

Of all things that could make you regret buying a house, being at the mercy of changing economies and shifting real estate markets could be the top regret factors. As challenging as these factors are, it would be comforting if they were the only factors that could make you regret buying a house.

But, they aren't the only factors. Other factors that may be a good reason to pause before you buy a house include:

  • Relationship trouble - If the relationship that you have with your spouse or fiancť is hanging in the balance, buying a house might make things worse. Taking on the responsibility of owning a house could lead to money arguments. It could also find you or your partner threatening not to help pay the mortgage.
  • Rising interest rates - Your monthly mortgage payments could increase to the point where you can no longer afford to make them if you took out an adjustable rate mortgage. Your only safeguard against this unwelcomed surprise might be to sign a fixed rate mortgage.
  • Growing children - Let one of your children earn a college scholarship four or more states away, another child meet someone he wants to marry and a third child get a job across the country and you could believing in a house that feels way too big. As unexpected as it seems, all of this could happen in less than a year after you buy a house.
  • Declining neighborhood - Let a neighborhood decline and you could put your children in a position to attend poor schools. You could also put your children closer to temptations.
  • Neighbors - Little brings as much excitement, uncertainty and house buying regret into your life like bad neighbors. Bad neighbors may bring unwanted noise, traffic and property damage.

Some causes to regret buying a house have lasting consequences

Even if you earn an attractive salary, there's a strong likelihood that buying a house will put you in financial debt. Fall in love with a house and you might fight the inner impulse to move should the neighborhood experience decline.

Wait too long to put your house on the market and you could have no choice except to take a loss when you do finally let go of the house. During that time, you may have developed bad neighbor relationships. The area where the house is located may have also changed, placing temptations like drugs, thefts, other illegal activities and unsavory relationships within your teenage children's reach.

Posted by Tony Economou on 10/27/2017

This Condo in Auburn, MA recently sold for $108,000. This Garden,Low-Rise style home was sold by Tony Economou - RE/MAX Advantage I.

112 Old Meetinghouse Road, Auburn, MA 01501


Sale Price

Buyer can't get his financing! Nicely kept garden style condo with easy access to I-395, the MASS Pike and Rt. 20. Updated kitchen cabinets, laminate wood style flooring in the kitchen that allows for a bistro style dining area. Living room and master bedroom are good sized and offer lots of natural light. The carpets are in great condition. There is common laundry facilities within the building and 2 parking spaces are associated with the unit. Location offers easy access to shopping and restaurants and is nicely tucked away at the end of the street.

Tags: Auburn   Real Estate   Condo   01501  
Categories: Sold Homes