Sep 24, 2020 | Real Estate
Most people have heard the saying that it might be a good idea to refinance if mortgage rates drop. For those who might not know, refinancing is essentially taking out a new loan to replace the old one because the new loan has a lower interest rate.
This could shorten the time span of a long time and reduce monthly payments, or save money on the total cost of the home. At the same time, refinancing is not right for everyone. How can homeowners determine if refinancing is right for them?
Do They Qualify?
Just because there are lower interest rates available does not mean that homeowners are going to qualify. It is important for homeowners to make sure they qualify for lower interest rates on their home loans. Be sure to conduct a quick credit check to clean up inaccuracies on the credit report. Then shop around and get quotes from different lenders.
What Are The Potential Savings?
If homeowners qualify for a better rate on the mortgage, it is time to crunch the numbers. Everyone needs to figure out exactly how much money they are going to save depending on which refinancing option they choose. Some of the factors to consider when looking at refinancing plans include the terms of the loan, the interest rate, and the overall monthly payment.
What Are The Closing Costs?
Finally, there are going to be the closing costs that go along with every refinancing plan. The good news is that these closing costs on negotiable. Sometimes, the closing costs will determine whether or not refinancing is worth it. Therefore, homeowners need to consider the closing costs as well. If the closing costs appear high, make sure to speak with different lenders and see if they are willing to provide a break on the costs.
Are The Homeowners Planning On Staying In The Home?
Finally, refinancing is only going to be worth it if the homeowners are planning on staying in the home. There is no point in paying for a new home loan if the homeowners are planning on moving next year. Therefore, be sure to consider this along with all of the other questions listed above to determine whether or not refinancing is worth it.
Sep 18, 2020 | Real Estate
Owning a home comes with a lot of joy and responsibility. Many homeowners are looking for improvement projects that they can do themselves. There are a few options that rise to the surface. Take a look at some of the fun projects that most homeowners can do at home!
Perform Routine Maintenance on the HVAC System
One of the top projects that homeowners can perform involves routine HVAC maintenance. In order to make sure the HVAC system is running appropriately, it is important to service it regularly. Even though there are a few tasks that have to be left to those with the right training, there are other tasks that the homeowners can do themselves. This includes wiping off the breaker, cleaning the exterior, and even cleaning the blower with a vacuum.
Seal Home Areas Contributing To A Draft
Another key project to consider involving sealing areas that might be leading to drafts. Some of the most common drafts come from the doors and windows. If there is a draft coming into the home, then this could lead to higher utility bills. Applying foam to fill in areas around the frames of windows and doors to prevent heat and air from escaping to the outdoors. This could help homeowners save a large amount of money on their electric bills.
Eliminate Entry Areas For Certain Pests
Some of the most common pests that homeowners have to deal with include ants, cockroaches, and termites. By taking the time to look for entry points under the cabinets, floorboards, and doors, homeowners can make sure these nuisances are problems of the past. Foam and steel wool works well for deterring the invasive natures of these insects. Make sure to remove dust and debris from the area to ensure that all gaps are filled.
Improve The Home During The Offseason
These are just a few of the top home improvement projects that homeowners might want to consider during the offseason. It is a smart idea to try to tackle these projects before the weather gets too cold. That way, homeowners will be prepared for the temperature to drop and can run their heaters without having to worry about their utility bills rising too much.
Sep 16, 2020 | Real Estate
There are lots of decisions that people have to make when it comes to the decorating scheme of their home. One of the key decisions that homeowners face involves the color scheme. Some people are afraid to talk about their color schemes for fear of making the wrong decision; however, the only way to make the right decision when it comes to the colors in the home is to discuss the situation. Have no fear because there are a few steps that all homeowners can take to make sure they nail their home’s color scheme.
Think About The Mood
The first step is to think about the mood of the home. Colors are used to reflect some sort of emotion and they are going to set the mood of the room. What type of mood should the space evoke? It might be helpful to think about the stories that could unfold in the room. For example, pinks and brighter colors are used to reflect both youth and vitality. Darker colors are used to create an earthy, warm vibe. Color should be a part of the design process from the first step.
Ease Into The Process
Next, it is a smart idea to ease into the process. Instead of trying to look at dozens of color tones at the same time, pick a few very different colors. Then, gradually narrow down the selection by looking at colors that are similar to the first one. By gradually moving to bolder colors, homeowners will have an easier time going through the process.
Consider The Saturation Of The Color
Finally, when looking at the possible variations, think about the brightness of the color as well, which is often referred to as the saturation. There are multiple hues in a single color and some hues might overwhelm the furniture or the carpets while others will work well in a synergistic manner. Think about the role the color is going to play in the room and how it might work well with different types of furniture.
Find The Right Color Scheme
These are a few of the most important points regarding home colors. With these tips, it is possible to enjoy the process of finding the right color scheme for the home.
Sep 11, 2020 | Real Estate
For many people, owning a home is their dream. The COVID-19 pandemic has impacted the entire country and has left many people wondering if they can still afford to own a home. While this might put some things on hold, there are steps that everyone can take to keep the dream of owning a home alive.
Get Pre-Approved For A Mortgage
The first step that you should complete if you would like to own a home is to get pre-approved for a mortgage. The pre-approval process will give you a firm idea of what you can afford. Then, you can start to narrow your search and find homes that are within your price range.
Furthermore, when you do make an offer, sellers will know that you are serious about buying the home because you have already been pre-approved. Reach out to a lender and get pre-approved for a mortgage.
Connect With A Top Agent Virtually
Most people are used to going to home showing in person; however, there are ways to do this virtually. A trusted agent is going to have access to all of the listings in the local area and can help you understand what the process is regarding buying a home. You can connect with an agent either by phone or by video to learn what it is like to navigate the real estate market. While today’s market might be different from most markets, there are still opportunities to get a great deal on a home.
Do Research On Options For Assistance
Buying home is one of the most important ways to stimulate the economy. As a result, there are lots of options that have been put into place to help people buy homes in a responsible manner. This could include loan programs, payment assistance programs, and loan options that do not require a large down payment. This can help you afford a dream home without having to necessarily put down 20 percent.
Do Not Put Your Dreams On Hold
While the climate might be a bit different right now, this does not mean that people have to put their dreams of owning a home on hold. This simply means that everyone has to do their due diligence and find the home that is right for them.
Sep 10, 2020 | Real Estate
During the past few months, the housing market has been through a lot of changes. One of the biggest changes that have taken place involves new home construction demands.
While there are plenty of homes that have already been built and are ready to be sold, there are plenty of people who are deciding to build new homes instead of buy existing ones. Now, the demands for new home construction are at heights that have not been seen in close to 15 years.
This has led to a business boom for local contractors. While building a new home is a great option, it is also a choice that requires a team of professionals. Not only are construction professionals needed to build the actual structure but professional contractors are also required to handle the plumbing system, HVAC system, and electrical system. With the recent boom in demand for new homes, local contractors have been busier than ever.
There Is A Shortage Of Skilled Trade Workers
While having plenty of business is a great thing, this is also creating some challenges for those who work in this field. Some contractors are saying that they are having trouble finding enough skilled trade workers who can handle these tasks. When there is a shortage of skilled trade workers, home construction can take longer than planned. While some homeowners expect to have their home ready in around six months, it could take some homes as long as ten months to be completed. While contractors would prefer to shorten the construction cycle as well, there simply aren’t enough people.
Finding The Right Contractors For The Job
For those who are looking to build a new home, it is important to find the right team for the job. It is critical to make sure that all contractors are licensed and insured. While nobody wants to think about something going wrong on a new home construction job, this can still happen from time to time. When this happens, it is important to make sure that all contractors have insurance to cover the cost of any damage that might take place. This will ensure that the new home construction process goes as smoothly as possible.
Sep 4, 2020 | Real Estate
If you are looking to sell a home in the current market, then you know that the COVID-19 pandemic has changed the way many people look at the world and this includes their home.
Therefore, buyers need to think about whether or not their homes have what buyers are looking for. While this is a hot market and sellers could quickly end up with multiple offers for their homes, they are more likely to get a higher offer if their home has one of the key features that buyers in today’s market will love.
A Home Office
Without a doubt, this is one of the most popular features today. With the pandemic changing the way people work, workers are spending more time at home than ever before. Everyone is looking for a way to be productive at home and this means having a home office. A home office is essential because it gives those working remotely with a place where they can seclude themselves in their own home and be productive. At the same time, if there is an emergency, they can still respond quickly. Buyers today are looking for a home office.
More Space To Accommodate
Lots of families are looking for ways to accommodate their loved ones and this means more space. For example, many schools are still operating virtually. This means that the kids are at home during the day and will need their space. In addition, elderly individuals are particularly vulnerable in today’s environment, so many families have welcomed their elderly family members as well. Homes with the space to accommodate these desires are going to be more popular.
Powerful Internet Access
While this is something that can be adjusted if necessary, powerful internet access is important. Think about everyone who is going to be putting a drain on the home’s internet connection. People are streaming TV more than ever. Kids need to be able to pay attention to their lectures. Those working from home are going to have video conferences. Having strong internet access is a must.
Sell A Home With These Features
Anyone who is looking to get the most for their home should keep these features in mind. They can drive up a home’s value in the current market.
