Jul 25, 2018 | Real Estate
You can make the most of a small home with smart design strategies and careful planning.
Maybe your youngest has finally gone away to college, and you have much more space than you really need. Or perhaps you want to minimize your lifestyle and shrink your carbon footprint.
Whatever your reason for downsizing, you can rest assured that moving into a smaller home will not cramp your style. Making a more modest space work doesn’t have to be difficult. These tips can help you make the transition with ease.
Identify Your Needs
Before you start organizing things for the move, identify your needs. Think about your lifestyle and what things you will need to support your lifestyle. Be aware of what resources you will absolutely need moving forward.
If you have a lot of pictures and other sentimental items, consider ways to preserve these things for your children or grandkids. Maybe you can scan and upload old photographs to a shared online family photo album.
Get Rid Of Rarely Used Items
It can be challenging to get rid of things — even if you don’t use them often. However, change is good. Downsizing your belongings can also simplify your life. If you have items that still have a lot of life left in them, you might try giving them to family members, charities or friends. Finding a good home for your things can make it easier to part with them. You could also try to sell items that are valuable.
Choose Smart Storage Solutions
Having less square footage doesn’t mean that you have to get rid of everything you own. You just have to be smart about how you organize your space. There are many storage solutions that can help you make the most of a small area. Maybe mount your television to the wall to enhance your floor space. Use storage ottomans for combination seating and storage. Built-in cabinets are also great storage solutions for tiny rooms.
Take Measurements
Before you move furniture and other larger items, measure the space to make sure that they will fit. Also, measure how much cabinet and closet space you will have available for use. You can use these measurements as a guide before moving anything to your new home. This simple step will save you the hassle of having to later get rid of items that you have already moved over.
Contact your trusted real estate professional if you are thinking about selling your home or buying a home.
Jul 24, 2018 | Real Estate
Popular TV shows like Fixer Upper and Property Brothers have brought the charms of owning a fixer upper to light. A fixer-upper can be a great option if you are prepared for the experience of owning a house that needs work and time.
A house that needs work can be a great investment if you are ready to invest the time and money into it. On the other hand, buying a fixer upper might be a problem if you are not aware of what you are getting into.
Not sure if owning a fixer upper is worth it? Here are some considerations to think about.
Start With This Easy Equation
Start with the likely market value of the house after renovations will be made. Then, sum up the cost to renovate the home. Then, add another 25 percent to the renovation costs for unforeseen problems that will no doubt come up during the renovation process.
Next, subtract the renovation costs from the probable market value of the house after the renovations are made. Use similar real estate prices in the area to get your estimate.
What number is left? This number what you should offer.
So, if the comparable estimates are $100,000 and the house needs $25,000 in work, then you should offer no more than $75,000 to break even. Most professionals recommend deducting 10 percent from the asking price just to make the investment of time worthwhile.
Determine How You Will Pay
If you buy a fixer-upper, you’re going to need some way to fund the renovations. It can be hard coming up with the funds for repairs and upgrades after paying closing costs. Some options for funding renovations include a renovation loan, like Fannie Mae’s HomeStyle Loan. This loan is rolled right into your mortgage, which makes things easier.
Another popular option is an FHA 203(k) loan. This loan is a little easier to qualify for than the Fannie Mae HomeStyle Loan and it only requires 3.5% down.
Decide If You Want To Invest The Time
Buying a fixer-upper is an investment. You will have to invest your time in making a lot of decisions. You’ll need to decide on things like building materials and aesthetics.
Do you have a design or architectural background? Do you enjoy remodeling projects? These are questions that you’ll really want to think about before buying a fixer upper.
Your trusted real estate professional will be your best resource to help you find the right fixer upper and negotiate your best offer price.
Jul 20, 2018 | Real Estate
Many homeowners don’t take advantage of simple measures to reduce energy bills. A survey by SaveOnEnergy found that nearly 50 percent of homeowners have not switched their regular light bulbs to energy saving bulbs. This simple measure can save more than $180 a year on electric bills.
As in the case with switching to energy saving bulbs, cutting your electric and other energy bills doesn’t have to require a lot of time, energy or money on your part. In fact, most of the following recommendations are easy to implement and costs just a few dollars. These free and easy lifestyle changes can add up and help you save a significant amount of money over the long run.
Close Off Cracks In Windows And Doors
You can save as much as $200 a year by closing off cracks around windows and doors. A lousy seal around your window or door will allow energy to drain out, which will also empty your wallet.
Visually inspect doors and windows for air leaks. If you see light entering around a window or door, then it means that you have a leak. You can seal these leaks by weatherstripping or caulking them. Also, inspect your storm doors and windows to make sure that they are in good shape.
Install A Smart Thermostat
A good thermostat can help you save money on both cooling and heating costs. A smart thermostat saves you more than just money though. It also allows you to regulate the comfort of your home. Some smart thermostats will enable you to keep different rooms in your home at different temperatures.
You can also set up most programmable thermostats to stay at various temperatures during different times of the day. You can control most smart thermostats with your smartphone. The best part is that you don’t have to be handy to install a thermostat. Most people can install a smart thermostat in less than an hour.
Set Your Washer Temperature on Cold
If you are washing clothes in hot water, you’re wasting money. Newer laundry detergents no longer need hot water to get the job done. In spite of this, many people are still unnecessarily washing clothes in hot water. According to Consumer Reports, some laundry detergent work worse in hot water. You can cut your energy usage per load in half by using warm or cold water to do your laundry.
If saving energy and money is important to you and you’re in the market for a new home, be sure to pass this information on to your trusted real estate professional so they can help steer you toward energy efficient properties.
Jul 19, 2018 | Real Estate
Whether you are a homeowner looking to get the maximum return on investment, a buyer interested in fair market value or an industry insider grappling with the moving parts of the real estate industry, these are some trends and predictions you should know about.
Lower Home Supply Causing Significant Value Growth
Indicators point to a U.S. economy that has settled into a nice growth period. Unemployment rates have touched some record lows, wages appear to be on the rise and Millennials are entering high earning and home-buying years. Couple these factors with the fact that last year’s tax reform laws will likely put more money back in everyday Americans’ pockets and homes could be a hot commodity, so to speak.
Home supply — on the other hand — does not appear ready to meet the rising demand of buyers. Experts are predicting that rising demand will collide with the housing shortfall and prices will ramp up in 2019.
Home Values Could Rise Another 5 Percent By Year’s End
Some real estate insiders are pointing to National Association of REALTORS information that the number of available homes for sale has dropped for 35 consecutive months. The volume of sales is down because there simply are not enough homes being put on the market. Coupled with the uptick in the economy, sellers are in the driver’s seat right now and they are demanding top dollar for their homes.
That being said, it may be in the best interest of first-time homebuyers to get into the market sooner rather than later. The improved wages from the surging economy may not be able to keep pace with a potential 5-percent increase in property values by the end of 2019. It looks like a buy now or pay later real estate market.
It’s Not A Housing Bubble And Won’t Burst
The housing market has been on a tear over the last three years. Property values have appreciated fairly consistently for 35 straight months. Such data mirrors that of the housing market right before the crash. One of the driving force behind property values climbing back then was sub-prime mortgage lending. The practice was a ticking time bomb and the end was inevitable.
While some experts are calling for another housing bubble to burst due to an unforeseen flaw in the system, tough legislation and oversight are in place. It’s only human nature to be cautious when conditions appear similar to those leading up to a bad outcome.
This time around, rising home prices appear to be based on solid economic factors. Either contractors are going to start massive home-construction builds all over the country or the shortage will continue to drive prices up. While experts say we are not in a so-called housing bubble, the market may level off down the road to get in tune with consumer affordability.
Whether you are looking to buy or sell, make sure to contact your trusted real estate professional to help you through the process.
Jul 18, 2018 | Real Estate
Home improvements are key investments when it comes to quality of life and property value. While decks, solar panels and smart technologies are trendy options, installing a home generator may be even more valuable. That’s because backup generators not only improve market value, they also protect you and your home during severe weather incidents.
Consider these four reasons why a home generator makes good sense.
Protect Against Severe Weather
The impact of severe weather can reach catastrophic proportions. Thousands of people are left without electricity for days — even weeks — after storms. Heat waves also put an inordinate strain on the power grid when all of those air conditioners and HVAC go into 24-hour overdrive.
The consequences of extended power losses are generally fouled foods in the refrigerator and freezer, unbearable temperatures and an inability to take corrective measures to the physical property itself. When the grid goes down, you may be left powerless as the losses mount.
Keeps Critical Systems Operational
When the power goes down for an extended period of time, important electronics become inoperable. If you work from home or rely on electronic devices to earn a living, either you’re putting in for vacation time or losing money. But beyond the financial implications, many people need power for vital medical equipment to function. It’s simply too risky to not have a backup plan if you or a loved one suffers from a health condition.
Backup Generators Improve Home Security
We have all seen the national news coverage about post-storm or brownout crime waves. Looting and burglary ran rampant when residents are evacuated. That’s because criminals know full well that your alarm system went down with the power.
Consider the accumulated wealth you have at home and irreplaceable personal items. Those could be lost if your home gets robbed during a power outage. Fortunately, installing a home generator will allow you to keep the lights on and thugs away. Just having your lights on at night demonstrates that you have electricity and that acts as a powerful deterrent. A backup generator provides peace of mind against theft.
Backup Generators Improve Property Values
It only makes sense that a home generator will increase your property value. After all, home generator installations are direct financial investments.
According to Consumer Reports, installing a home generator can improve your home’s value by as much as 3-5 percent. Similarly, Remodeling Magazine indicated that the return on investment for a home generator installing can range as high as 150 percent. Of course, those figures may be weighed against the money you saved by being powered up when the grid was down as well.
The point of this discussion is that while new kitchens and smart homes are exciting ways to amp up your home’s values, improvements such as backup generators have a quiet value worth considering.
Your trusted real estate agent is available to suggest other home improvement tips that can help to improve the value of your property when you are getting ready to put it on the market.
Jul 17, 2018 | Real Estate
Sleek modern kitchens were all the rage a couple of years ago. But now, homeowners are re-creating the Happy Days right at home. Retro styles from the 50s and 60s are making a comeback in the kitchen. Just make sure you combine the old with the new. Using too many vintage touches can make your kitchen go from looking trendy to outdated.
Here are some of the most popular vintage trends for the kitchen. Discover some ways that you can incorporate them into your design scheme.
Funky Flooring
Hardwood is no longer the ideal kitchen flooring material. Funky pattern tiles and vintage black-and-white linoleum are currently making a comeback in the kitchen. You can play with a variety of colors and textures to create a vintage look. Some good things to try include red and cream tiles, checkerboard black and white patterns and colorful speckled flooring. Think about something that you would be likely to see in your grandparents’ homes.
Pastels
Pastel decor dominated the 1950s. They give off a soft but dynamic feeling that reminds one of a retro American diner.
Some classic pastel combinations include:
- Sea foam green with soft pink
- Buttery yellow and soft pink
- Lime green with cream white
- Robin’s egg blue and mint
You can add touches of pastel to your accessories, walls or curtains. Dish towels and other fabrics are also great ways to incorporate these colors into your kitchen.
Retro Appliances
There is no need to give up your modern-day efficiency to have vintage appliances. You can have modern performance and timeless design. Many kitchen appliance manufacturers are getting in on the retro trend. Ranges, refrigerators and dishwashers are now available in a variety of period-inspired designs. Try a pastel colored-range or a refrigerator with a stamped-metal body and chrome trim.
Vintage Wallpapers
Vintage wallpaper reflects a bygone era in an interesting, fun way. Want a 50s look? Try polka dot patterned wallpaper. For a look straight from the 1960s, redo your kitchen walls with a busy print. Or try repetitive geometric designs in bright colors like turquoise and pink. Vintage wallpapers are available through many large online retailers or Etsy and similar sites.
Nostalgic details and salvage finds can help give your kitchen personality and flair. You won’t have to sacrifice modern convenience with today’s vintage kitchen appliances and accessories.
Whether sleek and modern or vintage and retro is your preferred style, be sure to give your trusted real estate professional your list of must-haves!
