Homebuyer Tips

15

Jan

Homebuyer Tips

How Much Money Do You Really Need to Save to Buy a House?

One of the biggest questions future homeowners ask is, “How much do I actually need to save before buying a home?” The answer depends on a few key components, but don’t worry—it’s easier to break down than you might think! Here’s an overview of what you need to save to step into homeownership confidently. 1. The Down Payment The down payment is the first major cost to consider. The traditional 20% down payment isn’t your only option anymore. Many loan programs allow buyers to get started with as little as 3% down. For example, if you’re looking at purchasing a…

19

Dec

By Lori Blank

Homebuyer Tips

How Younger Homebuyers Can Make A Dream Into Reality

For many younger individuals, especially those in Gen Z, the dream of owning a home can feel distant amid rising home prices, mortgage rates, and inflation. With these challenges, it’s easy to wonder if homeownership is truly within reach. While the current housing market may seem daunting, it’s important to know that it’s still possible to become a homeowner with the right strategies and support. With professional guidance, you can navigate the obstacles and achieve your goal of owning a home. Here are some helpful tips for younger homebuyers to make their dream a reality. 1. Explore Your Options for…

04

Dec

By Lori Blank

Homebuyer Tips

How to Find the Perfect Smaller Home for Your Golden Years

Retirement is an exciting time to enjoy the fruits of your labor, but it can also be a time for change—especially when it comes to your living situation. Downsizing to a smaller home can provide a fresh start, reduce living expenses, and make life simpler. However, finding the perfect smaller home to suit your needs in retirement requires thoughtful consideration and planning. Here are some key tips to help you navigate the process and find a home that will allow you to enjoy your golden years to the fullest. 1. Evaluate Your Needs The first step in downsizing is understanding…

20

Nov

By Lori Blank

Homebuyer Tips

How Downsizing Can Lead to More Freedom and Joy

As more people seek simplicity and focus in their lives, downsizing has become a popular choice among homeowners of all ages. But why is “less” gaining so much appeal? Downsizing offers not just smaller living spaces but also an opportunity to embrace a more fulfilling, efficient, and financially sound lifestyle. Here’s why you may want to consider making the move to a smaller home. 1. Financial SavingsThe financial benefits of downsizing are among its most compelling advantages. A smaller home often translates to a lower mortgage, reduced property taxes, and decreased utility bills. These savings can free up significant amounts…

05

Nov

By Lori Blank

Homebuyer Tips

How Long Does It Really Take to Buy a House?

The home-buying journey is thrilling but can take longer than expected, especially if you need to restart after a purchase falls through. So, how long should you plan for? Generally, you can expect the process to take around four months, divided into three main phases: the search, the offer, and financing. Phase 1: The Search Finding the right home is a major step that often takes the longest. According to the National Association of Realtors, most buyers spend between four and ten weeks searching. Internet-savvy buyers usually take closer to ten weeks, while those relying on in-person tours tend to…

04

Oct

By Lori Blank

Homebuyer Tips

20% Down Payment vs. Mortgage Insurance

When it comes to buying a home, one of the biggest decisions is whether to save up for a 20% down payment or opt for mortgage insurance. While a 20% down payment has traditionally been the gold standard, mortgage insurance is becoming an increasingly viable option for many buyers. Here's a closer look at both paths to help you determine which is right for you. The 20% Down Payment: Stability and Long-Term Savings A 20% down payment has long been viewed as a smart financial move, and for good reason. Here’s why it continues to be a popular option: Instant…

11

Sep

By Lori Blank

Homebuyer Tips

Why Moving to a Smaller Home After Retirement Makes Life Easier

As retirement approaches, many people start to rethink their living situation. While the home where you raised your family holds countless memories, it might not be the most practical place to spend your golden years. Downsizing to a smaller home after retirement can make life easier in several ways, offering both financial and lifestyle benefits. Here’s why moving to a smaller home might be the right choice for you. 1. Lower Maintenance and Upkeep A smaller home requires less maintenance, both inside and out. With fewer rooms to clean and a smaller yard to manage, you’ll have more time to…

20

Aug

By Lori Blank

Homebuyer Tips

House Hacking Pros And Cons Explained

Have you ever heard of house hacking? It’s a real estate strategy that allows you to live in a property while renting out part of it to generate income. This approach helps offset your living expenses and can even pave the way to financial independence. Here’s a breakdown of what house hacking entails, along with its benefits and drawbacks. What Is House Hacking? House hacking involves purchasing a property, living in one part of it, and renting out the other parts. The most common setup is buying a multi-family property (like a duplex or triplex) and renting out the other…

01

Aug

By Lori Blank

Homebuyer Tips

Strategies to Make Homeownership Accessible for All

In today's real estate market, the dream of owning a home can seem out of reach for many. However, various affordable housing initiatives are making homeownership more accessible. As a real estate agent, I want to share some strategies and programs designed to help you achieve your dream of owning a home. Understanding Affordable Housing Firstly, it's important to understand what affordable housing means. Affordable housing refers to housing units that are affordable to individuals or families with low to moderate incomes. This is often determined by the percentage of income spent on housing costs. Ideally, housing costs should not…

05

Jul

By Lori Blank

Homebuyer Tips

What Every Homeowner Should Know About HOA Documents

When you purchase a home within a community governed by a Homeowners Association (HOA), you're committing to a unique set of rules and responsibilities. Understanding HOA documents is crucial to ensure you’re fully aware of your rights and obligations as a homeowner. Here's what you need to know and when to ask questions. What Are HOA Documents? HOA documents, also known as governing documents, include several key components: Covenants, Conditions, and Restrictions (CC&Rs): These are the rules that dictate what you can and cannot do with your property. They cover everything from architectural guidelines to pet restrictions. Bylaws: These outline…