How to Know When It’s Time to Sell Your Home

How to Know When It’s Time to Sell Your Home     There are a variety of reasons people sell their homes. Some are looking to upgrade in size or style. Some are looking to downsize. Others may be relocating due to a military PCS or job change. For others, selling a property is strictly transactional and perhaps a way to leverage an asset. Whatever the motivation, below are seven ways to know that it might be time to hire a real estate professional to get your home sold. You’ll know it’s time to sell when… 1. The market is ripe for sellers. Seller's markets lead to increased competition among buyers, which means well-priced homes are typically snatched off the market quicker than usual. As a seller, this is great news. Selling your home quickly could allow you to buy a new home sooner with the equity from the sale. 2. Physically or emotionally you’ve outgrown it. Perhaps your family size has grown by adding another child, a set of parents to age in place, or you are simply feeling the cramped or close quarters as your family’s stage of life is shifting. Other times “outgrowing” might look like a life transition that can only be described as emotional growth. As life ebbs and flows, it's likely that there may come a time when you are simply ready to move on from your existing house. 3. You’re ready for something smaller. As young adult kids launch into their own lives, through the death or divorce of a spouse, or simply from feeling overwhelmed by the upkeep or work to own your house, it might be time to consider downsizing. Going smaller could also be a huge savings cost with a smaller home, lower maintenance and utility costs. 4. You have your financial house in order. Another reason it might be time to consider selling is that you have financial stability and can readily afford an upgrade. Having your mortgage and non-mortgage debt paid off and a hefty emergency fund or your next downpayment saved are signs that could point to selling an existing home and purchasing your next. 5. You’re ready to let someone else deal with the upkeep. Whether you are looking to rent your next home or get out of a traditional home and move into a development like a 55 and over community, being at a place where you’re ready to outsource home maintenance is a sure sign that it’s time to sell. 6. There’s significant equity in the value of your home. You may have paid off or paid down your mortgage or you may be running the numbers on your home’s estimated value due to the current demand pushing. There’s an often quoted saying, “You want to buy low and sell high.” This is true in both the stock market and the real estate market. Selling when you can bring in top dollar for your home is a good idea. 7. You’ve given it plenty of thought and you just know it’s time to move on. Sometimes, you just know it’s time. For reasons beyond those listed here, there just comes a time when you know it’s time to sell your home and move on to the next chapter of your life. Selling a home, particularly one you’ve lived in for any length of time can be an emotional process. Our homes are an extension of our lives and therefore, selling can be a lesson in nostalgia and sentimentality. When it comes to one of the largest financial transactions of your life, a trust real estate professional has the tools, training, and experience to help you see this process through from selling your home to purchasing your next opportunity.

How to Be Intentional with Interior and Exterior Lighting

How to Be Intentional with Interior and Exterior Lighting     Lighting can make or break a home’s ambiance and appeal both to prospective buyers as well as those who live there. Lighting is one area of the home that should not be overt. In fact, you likely won’t notice the lighting if it’s done well. You may only notice it if things are dim and dreary. Interior Lighting Indoor lighting can improve the overall quality of life of those inside the home. It can also add to the overall value of the property. If your existing home or one you may be interested in purchasing leaves a lot to be desired in the lighting department, there are four ways that you can brighten up your space. 1. Update old fixtures. If an existing home has outdated features, cosmetically it may be worth the investment to update or replace old fixtures. Besides the aesthetics of how much a refreshed fixture can improve a home, old fixtures may be working poorly and not at their full capacity. Replacing these yourself can be a pretty simple job, but if you aren’t electrically inclined, pay a professional electrician to do it safely. 2. Accentuate natural light. Natural light is something that is due in large part to the way your home sits on the lot and how many windows are available to let the light in. However, opening or altogether removing window treatments or blinds can help brighten up an interior space. Additionally, lighter paint colors, the use of mirrors, or keeping doors open may also maximize lighting. 3. Switch out your bulbs. Make sure you are firing up your fixtures and lamps at their maximum lumens. Check to make sure what the recommended voltage might be and lean into the lighter and brighter mood that making the switch can bring. It might surprise what a subtle, yet significant change going from 40 watts up to 75 or even 100 watts can do for a room. Decide if you prefer a cooler (more purple) or a warmer (more orange) tone bulb and seek to streamline all bulbs in the home so that there aren’t weird mixes of tones going on in a shared space. 4. Consider dimmers. For some, being intentional with lighting has less to do with making a space brighter, but more to do with creating a certain low light ambiance. Consider adding dimmer switches in parts of your home that you’d like more control over when it comes to lighting. Would a dimmer make a difference in areas like the dining room or over the soaking tub? Exterior Lighting Similar to interior lighting, exterior light can improve quality of life, value, and safety of the outside area of a home. Below are four suggestions for maximizing your exterior. 1. Consider Curb Appeal Lighting can play a huge role in anchoring your hard working landscaped beds or your entryway when it comes to curb appeal. When guests or passersby see your home in the dark, your lighting will focus on and highlight your home’s unique features. 2. Play It Safe When it comes to security, lighting can not only keep those moving about in the dark, safe from falls or losing their footing, but a well-lit home is also a deterrent to would-be creepers and criminals. Just like adding a dimmer switch for interior spaces, consider upgrading to light timers for outdoor flood or motion lights to come on whether you are home or not. 3. Make Outdoor Spaces Useable at Night Are there outdoor spaces just waiting to be used at your home after dark? What about a summer driveway cornhole tournament with the neighbors? Consider adding functional and ambient lighting to utilize porch spaces, set up an outdoor movie area, or even just light your path to the trash can or grilling area of the patio. 4. Know the Tricks for Layering Light The term “layered lighting” refers to combining different lighting elements to create a harmonious and visually comfortable space, which is achieved through the use of three important types of lighting: ambient, accent, and task lighting. These types and tricks are useful when it comes to outdoor lighting too. Focus on the overall ambiance with general lighting that illuminates the overall exterior area. This may be most easily achieved with flood lighting. Next, add a perimeter layer that all points to the house’s key exterior features. This covers porches, corners, walkways, and main angles of architecture. Finally, the task layer is reserved for taking on light specifically focused on particular areas that need to be well-lit.

Six Ways to Maximize Small Home Spaces

Six Ways to Maximize Small Home Spaces     Whether you find yourself living in a smaller than usual space by default or by choice, studies show that there are actually benefits of living in a small home. From lower costs for utilities to less overall time, energy, and money to maintain a smaller footprint, many people prefer to live by the mantra that less really is more! Below are six ways to maximize small home spaces. Declutter Perhaps it is stating the obvious, but one of the easiest and most cost-effective ways to make a small space feel less cramped is to declutter the space. Chances are no matter how large or small your home and no matter how long or short of a time you’ve lived there, there is more stuff living in your house than necessary. Decluttering can often be portrayed as one, huge, dumpster-defying existential crisis for families on television. However, it doesn’t have to be that dramatic and overwhelming to reap the benefits. Start small with a drawer or a closet. Keep at it in manageable and sustainable steps. Before you know it, you and your home will feel lighter. Scale Matters When you live in a small space, choosing the right size and shape of furniture matters. The oversized sectional that once fit in the large open floor plan home will take up too much precious real estate in a smaller room. It is important to understand the purpose of each room, measure the space, understand the layout, choose your style, and then ensure that your decor items aren’t overpowering the space. Go Vertical Don’t overlook the benefits of utilizing vertical space when planning in smaller spaces. Consider using a bunking system for kids’ beds, creating floor-to-ceiling shelving or storage, or using vertical stripes to give the illusion of height. Additionally, by “going high” with decor placement or hanging shelving and art slightly higher than eye level your small space may appear larger than it truly is. Play on Light Another great way to maximize small space living is another form of trickery similar to utilizing vertical space. Playing with light may take on many forms. Think about the power of windows by keeping them minimally covered in order to let in natural light. Consider mirror placement by taking advantage of light hitting the mirror to reflect even more light. Even the choice of certain paint colors can create optical illusions of space. Lighter paint colors like off-whites, light neutrals, pales, and pastels give the illusion of larger, brighter rooms. Consider Bonus Spaces and Make Them Liveable Chances are, you may have a bonus space in your home that could function as extra living space. Is there an extra area in the basement going unused? An attic space? A back porch? Give yourself a budget, time, and be willing to put in some sweat equity to maximize a previously unused area of your home. Is there a part of the garage that could become a useful home gym? A landing area at the top of the stairs that could use an extra bookshelf or rug to create a cozy reading nook? What about pricing out the cost of turning your back patio into a screened-in porch? If even you are unwilling or unable to change the existing structure of your home differently, get creative with your furniture placement and decor. If You Can’t Get Out of It, Get Into It Perhaps you have already taken into account every tip on this list and you just don’t have any other way to make your small space feel larger. Even if you are feeling trapped or overwhelmed by a space that hasn’t kept pace with your growing family or you’ve maxed out every available resource to create space in a small home, one final suggestion is to change your mindset. Where can you change your perspective on your small home? More coziness? More family togetherness? Less to clean? Lower utilities? If you have no plans to upgrade your home’s size anytime soon, relish the space you have. Find ways to be grateful in all of the large and small ways for the home you live in.

Have New Home Construction Costs Finally Stabilized?

Have New Home Construction Costs Finally Stabilized?     Over the past three years, home building construction costs have been higher than normal. In 2022 alone, there was a 14% increase in material and labor costs alone. Between labor shortages, production delays, supply chain issues, and inflation consumers have experienced high prices across the board. How are things looking for 2023? According to the National Association of Homebuilders (NAHB), construction cost increases will return to the historical average of 2% and 4% in 2023. It is also expected that inflation will begin to taper by the beginning of the year and return to near-normal levels by the end of 2023. What are the signs that costs are stabilizing? Homebuyers and builders are seeing stabilization in supply chain issues like decreased concerns with bottle-necked imports in many markets. There has also been an easing in global restrictions on materials like lumber and steel. Additionally, rising interest rates have helped to slow down cost increases. How can I better prepare for a home building project in 2023? Communication: plan to communicate openly, honestly, and frequently with your builder along the way. Figure out the most efficient form of communication and follow it. Keep records of emails, receipts, and timelines. Budget: even if you think you already have a good idea of your costs to build, most of the time budgeted costs and estimated timeline are easy to surpass. Know your numbers and prepare to make adjustments along the way. Flexibility: one of the most important things to keep in mind if you are building a home is flexibility. Being flexible will allow your builder to freely shift timelines around material and labor availability. It will also allow the homeowner to feel less stress if you know going into the whole thing that flexibility will be required. With so many moving parts and pieces, much of the building project relies on aspects outside the homeowner’s (and often, the builder’s) control. Planning: while flexibility is key, it is also important to develop a plan for the inevitable pivot you may need to make. What do you do when a material or finish you’ve picked is no longer in stock? How will you adapt your move in when the completion date may get pushed? What if significant weather prolongs your builder’s progress? A plan is there to help you navigate changes as they occur in real time. Should You Buy a New Home or a Previously Built One? U.S. News and World Report summarizes the issue best. According to a November 2022 report, “Buying a home is a dance of many decisions, from the most basic questions, like how many bedrooms and baths, to far more complicated considerations, like what kind of kitchen works best for your lifestyle. The biggest decision many homebuyers face, though, is whether to buy an existing home or to choose a home that’s under construction or freshly completed.” There are advantages to either option, particularly if the price difference isn’t enough to significantly impact your overall budget. If buyers want a particular home and don’t mind waiting for it to go up, new construction can be a way to make that dream a reality. But, if homeowners need to move soon or are looking for a home in an area that’s largely built up, an existing home might be the best option.