Posts

Showing posts from June, 2024

Making Sense of Home Improvements: What Adds Value?

Image
Before diving into renovation projects, it's important to understand which upgrades are likely to boost your home's value and which ones may not yield a significant return on investment. While certain improvements can enhance your home's appeal and attract potential buyers, others may fall short of expectations. It's prudent to explore examples of home improvements that have the potential to increase your home's value, as well as situations where renovations may not have a substantial impact on its worth. By gaining insights into these factors, homeowners can make informed decisions and maximize their return on investment when upgrading their properties. Home improvements that may increase the value of the home: Hardwood floors ... Refinishing or updating to wood floors have good appeal and have a high return on the cost. Kitchen Remodel - Updating the kitchen with modern appliances, countertops, and fixtures can increase the home's value by improving func

Will I Ever Be Able to Buy A Home?

Image
If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home? And chances are, you’re worried that’s not going to be in the cards with inflation, rising home prices, mortgage rates, and more seemingly stacked against you. While there’s no arguing this housing market is challenging for first-time homebuyers, it is still achievable, especially if you have professionals on your side. Here are some helpful tips you may get from a pro. 1. Explore Your Options for a Down Payment If a down payment is your #1 hurdle, you may have options to give your savings a boost. There are over 2,000 down payment assistance programs designed to make homeownership more achievable. And, that’s not the only place you may be able to get a helping hand. While it may not be an option for everyone, 49% of Gen Z homebuyers got money from loved ones that they used toward a down payment, according to LendingTree. And chances are you won’t need to put 2

Is an ARM a Smart Option?

Image
Are you in the market for a new home and wondering which mortgage option is right for you? While the world of home financing offers a surplus of choices, one option often overlooked is the Adjustable Rate Mortgage, or ARM. If you're in a market where interest rates are trending lower, an ARM could be the key to significant savings and financial flexibility. The problem is simple, while you're waiting for interest rates to come down, the price of homes are still going up. Any savings from the lower interest rate could more than be offset by the increase in purchase price due to appreciation. Buying at today's prices with an interim loan might be the answer. Picture this: You've found your dream home, and it's time to secure financing. An ARM often starts with a lower initial interest rate than a fixed-rate mortgage. This means your monthly payments will be more manageable from day one, allowing you to allocate your budget wisely. In a market where interest rate