Home Is Where the Heart Is More than Ever This Year

There’s no denying the financial benefits of homeownership, but what’s often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us.

According to the 2021 State of the American Homeowner report by Unison:

“Last year, staying home became a necessity and that caused many homeowners to have renewed gratitude for the roof over their head.”

As a nation, we continue to work through the challenges of a pandemic that’s pushed us all to new limits. Over the past year and a half, we’ve spent more time than ever at home: working, eating, schooling, exercising, and more. The world around us changed almost overnight, and our homes were redefined. Our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes:

• 91% of homeowners say they feel secure, stable, or successful owning a home
• 64% of American homeowners say living through a pandemic has made their home more important to them than ever
• 83% of homeowners say their home has kept them safe during the COVID-19 pandemic

It’s no surprise this study also reveals that homeowners are now more emotionally attached to their homes as well:As we’ve learned throughout this health crisis, homeownership can provide the safety and security we crave in a time of uncertainty. That sense of connection and emotional stability genuinely reaches beyond just the financial aspect of owning a home. As JD Esajian, President of CT Homes, LLC, says:

“Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.”

Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes:

“Buying a home is not just a financial decision. It’s also a lifestyle decision.”

Bottom Line

If you’re considering buying a home, it’s not entirely about the dollars and cents. Don’t forget to weigh the non-financial benefits that may truly change your life when you need them most.

Content previously posted on Keeping Current Matters

* This article was originally published here

Why Now Is a Great Time To Sell Your House

As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles.

In fact, recent data from realtor.com shows a larger share of homeowners are planning to list their houses this winter. So, that means more homes are about to hit the market, which will lead to more choices for buyers too.

According to George Ratiu, Manager of Economic Research at realtor.com:

“The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter.”

If you’re thinking of waiting until the spring to sell your house, know that your neighbors may be one step ahead of you by selling this winter. If you want to stand out from the crowd, this holiday season is the best time to make sure your house is available for buyers. Here’s why.

Sellers Are Still Firmly in the Driver’s Seat

Historically, a 6-month supply of homes for sale is needed for a normal or neutral market. That level ensures there are enough homes available for active buyers (see graph below):The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows the inventory of houses for sale sits at a 2.4-month supply. This is well below a neutral market.

What Does That Mean for You?

When the supply of homes for sale is as low as it is today, it’s much harder for buyers to find homes to purchase. This drives up competition among buyers, who then submit increasingly competitive offers to win out against others in the home search process. As this happens, prices rise and your leverage as a seller rises too, putting you in the best position to negotiate a contract that meets your ideal terms.

And while the low housing supply we’re facing won’t be solved overnight, sellers this season should move quickly to maximize their potential. As the data shows, with more prospective sellers planning to list their homes this winter, selling sooner rather than later helps your house rise to the top of a holiday buyer’s wish list so you can close the best possible deal.

Bottom Line

Listing your home over the next few weeks gives you the best chance to be in front of buyers competing for homes this holiday season. Let’s connect today to discuss how you can benefit from today’s sellers’ market.

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* This article was originally published here

Reasons To Hire a Real Estate Professional [INFOGRAPHIC]

Some Highlights

• Whether you’re buying or selling, there are many perks that come from working with a real estate advisor.
• Real estate professionals are experts at navigating all aspects of the buying and selling process, including negotiating on your behalf. We can also explain today’s market and break down what it means for you.
• Don’t go at it alone. Let’s connect today so you have advice and an expert to count on each step of the way.

Content previously posted on Keeping Current Matters

* This article was originally published here

Thank You for Your Support

 

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* This article was originally published here

How Smart Buyers Are Approaching Rising Mortgage Rates

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022:

“The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.”

If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise.

Taking Time Off Can Be Costly

Mortgage rates play a significant role in your home search. As rates go up, your monthly mortgage payment increases if you’re buying a home, directly affecting how much you can afford. And even the smallest increase can have a large impact on your monthly payment (see chart below):With mortgage rates on the rise, you’ve likely seen your purchasing power impacted already. Instead of waiting and hoping rates will fall, today’s rates should motivate you to purchase now before rates increase more.

Smart Buyers Can Succeed by Planning Ahead

You can use your newfound motivation to energize your search and plan your next steps accordingly so you’re prepared to act no matter what happens with mortgage rates. One way to do that: take rising rates into consideration as part of your budget.

Danielle Hale, Chief Economist at realtor.com, puts it best, saying:

“Smart buyers should consider calculating a monthly payment not only at today’s rates, but also at rates that are a bit higher so that they won’t be derailed by a sudden upward move. . . .”

You should also be ready to act when you find the home that meets your needs. That means getting pre-approved with a lender so there won’t be any delays when the time arrives.

The best way to prepare is to work with a trusted real estate advisor now. An agent can connect you with a lender, help you adjust your search based on your budget, and be ready to act quickly when it’s time to make an offer.

Bottom Line

Serious buyers should approach rising rates as a motivating factor to buy sooner, not a reason to wait. Waiting will cost you more in the long run. Let’s connect today so you can better understand your budget and be prepared to buy your home even before rates climb higher.

Content previously posted on Keeping Current Matters

* This article was originally published here

Don’t Believe Everything You Read: The Truth Many Headlines Overlook

There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise.

With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year.

There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news.

1. Foreclosures Are Spiking Today

There are a number of headlines circulating that call out the rising foreclosures in today’s real estate market. Those stories focus on an overly narrow view on that topic: the current volume of foreclosures compared to 2020. They emphasize that we’re seeing far more foreclosures this year compared to last.

That seems rather daunting. However, though it’s true foreclosures have been up over the 2020 numbers, it’s important to realize that there were virtually no foreclosures last year because of the forbearance plan. If we compare this September to September of 2019 (the last normal year), foreclosures were down 70% according to ATTOM.

Even Rick Sharga, an Executive Vice President of the firm that issued the report referenced in the above article, says:

“As expected, now that the moratorium has been over for three months, foreclosure activity continues to increase. But it’s increasing at a slower rate, and it appears that most of the activity is primarily on vacant and abandoned properties, or loans in foreclosure prior to the pandemic.”

Homeowners who have been impacted by the pandemic are not generally the ones being burdened right now. That’s because the forbearance program has worked. Ali Haralson, President of Auction.com, explains that the program has done a remarkable job:

“The tsunami of foreclosures many feared in the early days of the pandemic has not materialized thanks in large part to the swift and decisive foreclosure protections put in place by government policymakers and the mortgage servicing industry.”

And the government is still making sure homeowners have every opportunity to stay in their homes. Rohit Chopra, the Director of the Consumer Financial Protection Bureau (CFPB), issued this statement just last week:

“Failures by mortgage servicers and regulators worsened the impact of the economic crisis a decade ago. Regulators have learned their lesson, and we will be scrutinizing servicers to ensure they are doing all they can to help homeowners and follow the law.”

2. Rising Mortgage Rates Will Slow the Housing Market

Another topic that’s generating frequent headlines is the rise in mortgage rates. Some people are expressing concern that rising rates will negatively impact the housing market by causing home sales to dramatically decline. The resulting headlines are raising unneeded alarm bells. To counteract those headlines, we need to take a look at what history tells us. Looking at data over the last 20 years, there’s no evidence that an increase in rates dramatically forces sales to come to a halt. Nor does home price appreciation come to a screeching stop. Let’s look at home sales first:The last three times rates increased (shown in the graph above in red), sales (depicted in blue in the graph) remained rather consistent. It’s true that sales fell rather dramatically from 2007 through 2010, but mortgage rates were also falling at the time. The next two instances showed no meaningful drop in sales.

Now, let’s take a look at home price appreciation (see graph below):Again, we see that a rise in rates didn’t cause prices to depreciate. Outside of the years following the crash, prices continued to appreciate, just at a slower rate.

Bottom Line

There’s a lot of misinformation out there. If you want the best advice on what’s happening in the current housing market, let’s connect.

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* This article was originally published here

4 Ways Homeowners Can Use Their Equity

Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic, homeowners gained an average of $51,500 in equity over the past year.

If you’re looking for the best ways to use your growing equity, here are four options:

1. Use Your Equity To Buy a Home That Fits Your Needs

If you’re finding you no longer have the space you need, it might be time to move into a larger home. Or, it’s possible you have too much space and would like something smaller. No matter the situation, consider using your equity to power a move into a home that fits your changing lifestyle. Moving into a larger home can provide extra space for remote work or loved ones. Downsizing, on the other hand, may mean saving time and money by caring for a smaller home.

2. Move to the Location of Your Dreams

If the size of your home isn’t a challenge but your current location is, it could be time to relocate to a new area. Maybe you enjoy vacationing in the mountains, at the beach, or another area, and you’re dreaming of living there year-round. Or perhaps the distance between you and your loved ones is greater than you’d like, and you want to close the gap. No matter what, your home equity can fuel your move to the location where you really want to live.

3. Start a New Business

If you’re not ready to move into a new home, you can use your equity to invest in a new business venture. As the U.S. Small Business Administration Office of Advocacy says:

“There is an estimate of 31.7 million small business owners in the United States, many of them started their business with the equity they had in their home.”

While it’s not recommended that homeowners use their equity for unnecessary spending, leveraging your equity to start a business that you’re passionate about can potentially grow your nest egg further.

4. Fund an Education

Whether you have a loved one preparing to head off to college or you’re planning to go back to school yourself, the thought of paying for higher education can be daunting. In either situation, using a portion of your growing equity can help with those costs, so you can make an investment in someone’s future.

Bottom Line

Your equity can help you achieve your goals. If you’re unsure how much equity you have in your home, let’s connect today so you can start planning your next move.

Content previously posted on Keeping Current Matters

* This article was originally published here

Yesterday

The Texas Real Estate Blog is still in its infancy, so just a heads up, some posts here will be a little “different” and a departure from the blog’s main theme. For those of you who follow our other popular blog  www.sanantoniorealestate.blog, you already know this the “occasional norm”.

 So, what’s up today? Stumbled on to something cool…. and want to share with you.

I have used a site called the WayBackMachine for a long time (over 625 Billion pages stored). If you are curious about what a website looked like years ago or want to see some of its content, this would be the place. It is sort of like looking through an old album or at some of the cartoons showing ads from the "old days". 

BUT....

.... far more interesting and broader in appeal is old movies…  this link gets you to old comedies https://archive.org/details/Comedy_Films 

You can set your own movie search categories here  https://archive.org/details/moviesandfilms

And in the grand scheme, this one gives you an opportunity to see so much more, no matter what your interest  https://archive.org/

Have fun exploring!

Your Journey to Homeownership [INFOGRAPHIC]

Some Highlights

• When it comes to buying a home, there are a number of key milestones along the way.
• The process includes everything from building your team and understanding your finances to going house hunting, making an offer, and more.
• When you’re ready to start your journey, let’s connect so you have trusted guidance at every milestone in the process.

Content previously posted on Keeping Current Matters

* This article was originally published here

Home Sales About To Surge? We May See a Winter Like Never Before.

Like most industries, residential real estate has a seasonality to it. For example, toy stores sell more toys in October, November, and December than they do in any other three-month span throughout the year. More cars are sold in the U.S. during the second quarter (April, May, and June) than in any other quarter of the year.

Real estate is very similar. The number of homes sold in the spring is almost always much greater than at any other time of the year. It’s even labeled as the spring buying season. Historically, the number of buyers and listings for sale significantly increase in the spring and remains strong throughout the summer. Once fall sets in, the number of buyers and sellers typically drops off.

Last year, however, that seasonality didn’t happen. The outbreak of the virus and subsequent slowing of the economy limited sales during the spring market. These sales were pushed back later in the year, and last fall and winter saw a dramatic increase in home sales over previous years. The only thing that held the market back was the extremely limited supply of homes for sale.

What About This Winter?

Some experts thought we’d return to the industry’s normal seasonality this winter with both the number of purchasers and houses available for sale falling off. However, data now shows that neither of those situations will likely occur. Buyer demand is still extremely strong, and it appears we may soon see a somewhat uncharacteristic increase in the number of homes coming to the market.

Buyer Demand Remains Strong

The latest Showing Index from ShowingTime, which tracks the average number of monthly showings on available homes, indicates buyer activity was slightly lower than at the same time last year but much higher than any of the three previous years (see chart below):A report from realtor.com confirms buying activity remains strong in the existing home sales market:

“New housing data shows 2021’s feverish home sales pace broke a yearly record in October, . . . with last month marking the eighth straight month of buyers snatching up homes more quickly than the fastest pace in previous years. . . .”

Buyer activity for newly constructed homes is also very strong. Ali Wolf, Chief Economist for Zonda, recently reported that Stuart Miller, the Executive Chairman of Lennar, one of the nation’s largest home builders, said this about demand:

“There is still a great deal of demand at our sales centers with people lining up and not enough supply.”

The only question heading into this winter is whether the number of listings available could come close to meeting this buyer demand. We may have just received the answer to that question.

Sellers Are About To List – Right Now

Instead of waiting for the normal spring buying market, new research indicates that homeowners thinking about selling are about to put their homes on the market this winter.

Speaking to the release of a report on this recent research, George Ratiu, Manager of Economic Research for realtor.com, said:

“The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter.”

Here are some highlights in the report:

Of homeowners planning to enter the market in the next year:

• 65% – Have just listed (19%) or plan to list this winter
• 93% – Have already taken steps toward listing their home, including working with an agent (28%)
• 36% – Have researched the value of their home and others in their neighborhood
• 36% – Have started making repairs or decluttering

The report also discusses the reasons sellers want to move:

• 33% – Have realized they want different home features
• 37% – Say their home no longer meets their family’s needs
• 32% – Want to move closer to friends and family
• 23% – Are looking for a home office

Data shows buyer demand remains unusually strong going into this winter. Research indicates the supply of inventory is about to increase. This could be a winter real estate market like never before.

Bottom Line

If you’re thinking of buying or selling, now is the time to have a heart-to-heart conversation with a real estate professional in your market, as things are about to change in an unexpected way.

Content previously posted on Keeping Current Matters

* This article was originally published here

Retirement May Be Changing What You Need in a Home

The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom:

“At least 1.7 million more older workers than expected retired due to the pandemic recession.”

If you’ve recently retired, your home may not fit your new lifestyle. The good news is, you’ve likely built-up significant equity that can fuel your next move. According to the latest Homeowner Equity Insights report from CoreLogic, homeowners gained more than $50,000 in equity over the past 12 months alone. That, plus today’s sellers’ market, presents a great opportunity to sell your house and address your evolving needs.

You Can Move Closer to the Ones You Love

The 2021 Home Buyers and Sellers Generational Trends report from the National Association of Realtors (NAR) provides a look at the reasons people buy homes. For those reaching retirement age, the number one reason to buy is the opportunity to be closer to loved ones, friends, or relatives.

If you find yourself farther from your loved ones than you’d like to be, retirement and the equity you’ve built in your home may enable you to move closer to the people in your life who matter most.

You Can Find the Right Home for Your Needs

Not only can your equity power a move to a new location, but it can also help you purchase the right size home. Lawrence Yun, Chief Economist at NAR, says many homebuyers 55 and older choose to downsize – or buy a smaller home – when they make a purchase:

“Clearly from the age patterns, young people want to upsize, and the older generation is looking to downsize. . . .”

Whatever your home goals are, a trusted real estate advisor can help you to find the best option for your situation. They’ll help you sell your current home and guide you as you buy your next one while you move into this new phase of life.

Bottom Line

If you’ve recently retired and your needs are changing, you’re not alone. Let’s connect so you can get a better sense of how to find a home that will match your situation.

Content previously posted on Keeping Current Matters

* This article was originally published here

Sellers: You’ll Likely Get Multiple Strong Offers This Season

Are you thinking about selling your house right now, but you’re not sure you’ll have the time to do so as the holidays draw near? If so, consider this: even as the holiday season approaches, there are plenty of buyers out there, and they really want your house. Here’s why selling this winter is a win for you.

Today’s buyers are still dealing with a limited number of homes for sale. Thanks to continued low inventory, those buyers are competing with one another for their dream home. And when that happens, if your house is one of the few on the market, it will rise to the top of the pool – and it will be worth it.

According to the latest data from the National Association of Realtors (NAR), the average seller received 3.7 offers on their house in September. For a view into what’s happening at the state level, take a look at the map below:Nationwide, the average seller today is getting nearly four offers. That number is significant because it means you’ll likely have multiple offers to pick from if you sell your house this season. To put things into perspective, no matter where your state falls, remember that you really only need one good offer to close the deal.

Any offer you receive will likely be from a highly motivated buyer who’s doing everything they can to beat the competition. The stakes for buyers are high. They’ve been looking for a house and they want to lock in their dream home before prices and mortgage rates rise further next year. Chances are, they’ll get creative with the terms of their offer, which could include waiving contingencies and offering over the asking price – both of which are great news for you.

If you’re on the fence about when to sell, remember your house is a hot commodity this season. As other sellers take a break for the holidays with plans to re-list their homes in the new year, you can put your house in front of motivated buyers by making your move today. That means your house will be the center of attention, and likely the center of a bidding war too.

Bottom Line

Selling now gives you even more opportunity to win big as buyers compete for your house in today’s market.

Content previously posted on Keeping Current Matters

* This article was originally published here

4 Things Every Renter Needs To Consider

As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider.

Here are a few things you should think about before you settle on renting for another year.

1. Rents Are Rising Quickly

Rent increasing each year isn’t new. Looking back at Census data confirms rental prices have gone up consistently for decades (see graph below):If you’re a renter, you’re faced with payments that continue to climb each year. Realtor.com recently shared the September Rental Report, and it shows price increases accelerating from August to September (see graph below):As the graph shows, rents are still on the rise. It’s important to keep this in mind when the time comes for you to sign a new lease, as your monthly rental payment may increase substantially when you do.

2. Renters Miss Out on Equity Gains

One of the most significant advantages of buying a home is the wealth you build through equity. This year alone, homeowners gained a substantial amount of equity, which, in turn, grew their net worth. As a renter, you miss out on this wealth-building tool that can be used to fund your retirement, buy a bigger home, downsize, or even achieve personal goals like paying for an education or starting a new business.

3. Homeowners Can Customize to Their Heart’s Content

This is a big decision-making point if you want to be able to paint, renovate, and make home upgrades. In many cases, your property owner determines these selections and prefers you don’t alter them as a renter. As a homeowner, you have the freedom to decorate and personalize your home to truly make it your own.

4. Owning a Home May Provide Greater Mobility than You Think

You may choose to rent because you feel it provides greater flexibility if you need to move for any reason. While it’s true that selling a home may take more time than finding a new rental, it’s important to note how quickly houses are selling in today’s market. According to the National Association of Realtors (NAR), the average home is only on the market for 17 days. That means you may have more flexibility than you think if you need to relocate as a homeowner.

Bottom Line

Deciding if it’s the right time for you to buy is a personal decision, and the timing is different for everyone. However, if you’d like to learn more about the benefits of homeownership, let’s connect so you can make a confident, informed decision and have a trusted advisor along the way.

Content previously posted on Keeping Current Matters

* This article was originally published here

What Kind Of Home Suits Your Lifestyle?

First Guest Posting on this Blog! Our Guest Poster Today:  Matthew Schwimmer

Home buying is a process that involves many options. The question is: How do you narrow down the choices and make the best decision? Before you jump into the growing house market, it would be good to look into your finances and get pre-approved for a mortgage. Once you have that settled and know your budget, it's time to start thinking of what kind of home suits your lifestyle. This article will share the different types of homes and what to consider when choosing the one that matches your life dynamics.

Things to consider when house hunting

Owning a home is an outstanding achievement. We strive to make our homes a reflection of ourselves. Therefore, homeownership is something that makes us proud, and we want to care for the home's function and appearance.

Once you start the search, you will come across numerous home types. You will need to make a decision based on your family's needs, priorities, and preferences. Hence, if you want the following scenario: find 'the one,' arrange the long-distance relocation with a moving company, transport everything into your new place in Texas, unpack, settle in, decorate, and enjoy your new home, you will need to consider a couple of things. The goal is to find the home that supports your lifestyle, not the other way around.

So, let's take a look at what also goes into getting to the right decision.

Geographical preferences

First and foremost, it's essential to think about where you enjoy spending your time the most. Do you prefer the places with woods and nature, cities with the ocean shore, or an intimate backyard garden? What kind of climate do you like? Would you be happy with all four seasons, or are places that have two enough for you? These are all the questions that need answers from you and your family before you start house hunting.

  

To find what kind of home suits your lifestyle, you will need to decide where to search first.

Ideally, you want your new home to be in a place that has the following features:

• easy access to recreational activities you like doing;
• it is visually pleasing for you;
• it meets your healthcare needs.

City or country?

This is another significant difference to consider. If you love going out or have a rushed lifestyle that requires you to eat on the go frequently, then cityscape might be the better option for you.

On the other hand, if you work from home or don't enjoy traffic noise and flashy lights, some rural areas might be a better choice for you.

Maintenance requirements need to match your lifestyle

If this sounds confusing, let's unwrap it. Consider the following questions: Do you enjoy doing DIYs, especially for home repairs and decor? Do you plan on hosting dinners and holidays? Do you have or plan on having children in the near future? Do you like the idea of having a separate space for yourself, like a workshop, a library, or an art studio?                                                                                                

Your parental status plays a significant role in home buying decision-making.

If you answered 'yes' to most of these questions, you would most likely be happier in a larger space, aka a house. However, owning a home requires a lot of maintenance and care, so be sure to keep that in mind.

Alternatively, try answering these questions: Do you prefer spending extra money on travel to home decor? Do you spend the majority of your day out and about? 

If the answer is positive, you would probably be more comfortable in a condo or a smaller space that doesn't require investing your time and money in maintenance.

What type of home suits your lifestyle best?

Now that you are familiar with things you need to consider to narrow down the options for your new home, let's look at what types of houses there are.

A condo

Condos are for people who love having their own space but aren't necessarily keen on maintaining a yard. Condos are an excellent option for:

• younger buyers who love living in a community;
• homeowners that are looking to downsize or live in a more convenient location.

The main difference between a condo and a single-family house is the exterior space. Also, all the homeowners in that development share common areas.

Or, you could go for an apartment. The only difference is concerning the ownership. A condo is owned by an individual and either managed by them personally or under the condo community's homeowner association. Apartments are a part of a complex that a corporation usually owns.

A penthouse

A penthouse is usually the priciest apartment in the building. However, this is a good option for those looking for security, coziness, and a neighborhood with many different amenities.

Older houses that require renovation 

As paradoxical as it might sound, urban areas are full of older homes with a beautiful rustic vibe. However, many of those homes haven't been upgraded in years. So, when thinking about what type of home suits your lifestyle, consider the renovations and upgrades you will need to do if you go for this option.

Choosing to renovate an older home means increasing its value and functionality.

Suburban homes

If buildings are not a place you imagine yourself living in, you might want to consider the idea of moving to a suburban neighborhood. 

Suburbs are usually more affordable and are an excellent choice for those who plan on raising a family. Also, these homes tend to be newer, which means there's less work you need to do upfront.

Suburbs have unique neighborhoods and offer a sense of community while having affordable homes.

Many millennials choose to move to the suburbs and create an urban lifestyle while purchasing more affordable houses.

A farmhouse

Finally, you might be a rural area type of person. Owning a farmhouse offers a unique, slower-paced, quieter lifestyle. So, if you want to be more in tune with nature and want to settle somewhere away from the city noise and rush, a farmhouse or a country house might be the best option for you.

Final thoughts

Finally, home is where you can spend your time your way. The place where you experience many of the ups and downs alone or with your family. A place where you can be fully yourself. That's why it's important not to rush things when starting a home buying process. Consider your financial health and the future of home prices, your preferences, and priorities when deciding what type of home suits your lifestyle. Happy house hunting!

 

Meta description: Buying a home involves many options. So, if you want to know what kind of home suits your lifestyle, stay tuned for the list of home types.

Photos used:

https://unsplash.com/photos/5NLCaz2wJXE

https://unsplash.com/photos/Z8UgB80_46w

https://unsplash.com/photos/178j8tJrNlc

https://unsplash.com/photos/Klby0nxseY8

https://unsplash.com/photos/OjlqvN-scw4

Matthew Schwimmer, Blogger and Writer

Should I Update My House Before I Sell It? [INFOGRAPHIC]

Some Highlights

• If you’re deciding whether you should make updates before you sell your house, lean on your agent to be your guide.
• If the market is flooded with houses for sale, updates may be necessary for your house to stand out. In our current sellers’ market, the added expenses might not be worth it.
• Let’s connect so you have expert advice on which updates are important in today’s market.

Content previously posted on Keeping Current Matters

* This article was originally published here

VA Loans: Helping Veterans Achieve Their Homeownership Dreams

The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program:

“The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .”

For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes.

2020 Data on VA Home Loans

• 1,246,817 home loans are guaranteed by the Veterans Administration
• The average VA loan amount totals $301,044
• 178,171 of those using a VA Loan are first-time homebuyers

Top Benefits of the VA Home Loan Program

As we reflect on their sacrifice and honor our nation’s veterans, it’s important to ensure all veterans know the full extent of benefits VA home loans offer. As Jeff London, Director of the VA Home Loan Program, says:

“VA loans offer an extraordinary opportunity for veterans because of lower interest rates, lower monthly payments, no or low-down payments, and no private mortgage insurance.”

Those who qualify for a VA home loan are eligible for the following:

• Borrowers can often purchase a home with no down payment. In 2020, 350,094 individuals using a VA Loan were able to purchase their homes without putting money down.
• Many other loans with down payments under 20% require Private Mortgage Insurance (PMI). VA Loans do not require PMI, which means veterans can save on their monthly housing costs.
• Finally, VA-Backed Loans often offer the most competitive terms and interest rates.

Bottom Line

One way we can honor and thank our veterans this year is to ensure they have the best information about the benefits of VA home loans. Homeownership is the American Dream. Our veterans sacrifice so much in service to our nation and deserve to achieve their homeownership goals. Thank you for your service.

Content previously posted on Keeping Current Matters

* This article was originally published here