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How Much will that Commute Cost You?
Before you buy that new home, how much will that daily commute to and from home cost you? One thing to consider is rural living may be the desired goal, but it usually involves more driving, which involves more expense at the pump. Consider putting that expense towards your mortgage and see how much more home you could afford in town.
I call this quality of life, vs solitude.
While you may have a quite commute, more of your time will be in the car when driving to that home tucked away in the country. Long commutes, traffic backups, road fatigue, and hunger attacks can make that home of solitude a burden. Owning a home in the city may not provide that quite setting, but the quality of life spent with those you love may just outweigh the benefits of a commute. Having lived in the city and country, both have their own unique benefits, so consider carefully which you would rather have and make your decision to purchase your perfect home after weighing the benefits and costs.
If you would like to discuss your unique situation further, do not hesitate to connect with me.
Piles of yard work
Spring has arrived. OH what a beautiful day you declare. The daffodils are about to sprout their tiny heads. The buds on the fruit trees declare their place on the branch of life. The hummingbird feeders are mossy and ready for a fresh bowl of sugar punch and the moles have declared war on the lawn.
Dawned with gloves, ant spray, and pruning shears, you emerge from the cave that used to house your car and lawn tools but is now overladen with Christmas decorations and garage sale keepsakes. The focus – the fairytale yard. Only known by Gnomeo and Juliet, you endeavor to gain back what is taken from you every October. Nature has littered the lawn with moss, pine cones, tiny branches, and leaves from the neighbors maple tree and she has no remorse for her gratuitous embellishments.
With Ace hardware as your backup unit and the neighborhood teen down the street as your assistant, you endeavor to restore peace and order to the chaos in the conservatory. One wheelbarrow, two wheelbarrow, three wheelbarrow, four, exhausted you find you cant do any more.
“I’ve made some progress” you declare to the family around the dinner table only to be met with conversations diverted to Facebook mis-truths and what happened in Washington 3000 miles away.
All that hard work un-noticed by those who blindly walk by staring at the dandelion that is now 2 feet tall. Onward and forward you say to yourself. Tomorrow my goal is to finish the front yard. Day 2 you observe the neighbor has hired Juan-Touch Landscaping service to spruce up their yard. Three men in their early 20s emerge from the vehicle like Jason Statham from a BMW prepared to impress.
What only seems like moments the neighbors lawn is trimmed, pruned and glistening and it even seems like flowers that don’t bloom in this season are kissing the sun.
Press on, you say. I can do this. After all, I won’t be spending the money the neighbor had to get the results I want. As the day goes on Trudy, Virginia, and Bob walk by and have to share their perspective on the neighborhood, thus distracting you from your goal to finish the front yard. What seems like only minutes later the family is pulling into the driveway in their respective vehicles only to walk by and say “Hi”. They walk around the wheelbarrow that is bursting with dead branches and old stems, jump over the buckets, dance around the shears, just in time to leap over the empty glass of sun tea before breaking it. Only 2 hours left and then I will be complete.
5 days later the backyard and side yards have been manicured to your expectations. What a delight to know you will only have to spend moments, not hours on this behemoth of a yard. The delight in knowing you have accomplished the yearly task of spring sprucing of your personal Arboretum.
The neighbors will certainly notice. The first one to notice happens to be the Yorkshire terrier from across the street who adorns the yard with the pyramid of posterity.
Well, at least the fertilizer was free!!!
Virtual staging vs actual staging
2023 Real Estate Predictions by Windermere Chief Economist
Staying in your current Home
Where to start when considering selling or purchasing real estate
Thinking about selling your home? You’ve got questions, we’ve got answers. From list to closing, we’re ready to help you through the process. Let’s get started.
01Should I Sell?
A lot goes into deciding whether it’s the right time to sell your home. It’s a numbers game, but it’s also a personal decision. Ultimately, the right time to sell your home is when you’re ready.
02What Price?
Accurately pricing your home is the key to getting the highest return in the least amount of time. So, how do you determine the right price for your home?
03Working with an Agent
An agent is more than a real estate expert; they are someone who cares about your happiness and housing goals.
04Preparing to Sell
There’s a lot that goes into making your home as appealing as possible to buyers. Work with your agent to understand what kinds of upgrades and features competing listings in your area are offering and which home improvements are worth your time and money.
05What to Do While Listed
It’s easy to feel like you’re in limbo while your home is on the market, but there are plenty of ways to stay active and continue to work with your agent toward a successful sale.
06Moving Tips
Moving can be stressful, whether you’ve just sold your home or it’s still on the market. Follow these tips to make your move as smooth as possible.
Sellers Market or Buyers Market?
When the housing market favors sellers, a seller can expect ideal conditions for selling their home. However, that’s not to say that a seller’s market doesn’t come with its own unique set of challenges for parties on both sides of the transaction. That’s why it’s critical for buyers and sellers to work with an agent who not only understands their wants and needs but who can also help them navigate highly competitive market conditions.
What is a Seller’s Market?
A seller’s market occurs when demand exceeds supply. When inventory is limited, competition amongst buyers is fierce. Median sales prices increase, days on market decrease, and homes commonly receive multiple offers, often over their original asking price.
Selling in a Seller’s Market
Though demand is high in a seller’s market, staging and making any necessary repairs are still important steps to take before hitting the market. An agent can help a seller make important decisions about which repairs and updates help add value to the home.
When it comes to offers and negotiations in a seller’s market, sellers have the leverage. It’s common for homes to fetch more than their asking price with multiple offers on the table. Though prices are being driven up by demand, a seller may choose to list their home at or just below fair market value with the hopes of starting a bidding war. Because competition is so high, buyers may be willing to waive an inspection contingency to help make their offer stand out. Agents can help sellers decide whether they should conduct a pre-listing inspection, which sometimes helps the seller get more offers and command a higher price.
With multiple offers on the table, it may be tempting to simply choose the one with the highest figure; however, the best offer is also the one that removes risk and aligns with the seller’s goals. Whether that entails waived contingencies, a shorter closing window, or an all-cash offer, in a seller’s market, the seller has the power to choose. Sellers should fully review each offer with the help of their agent before proceeding.
Buying in a Seller’s Market
Buyers in a seller’s market must act fast. Due to the high level of competition, they must be prepared for a frustrating scenario where their offers may not win out. This emphasizes the importance of working with a buyer’s agent. In a seller’s market, it’s more likely that the buying process will include such factors as seller review dates and escalation clauses. A buyer’s agent will help navigate these challenges while working with their client to make their offer stand out. They will formulate a strategy, comparing their client’s wish list and budget against the limited number of homes available and proceeding accordingly. A buyer’s agent will also set the expectation that, due to the competitive nature of the market, finding the right home may take longer than expected.
In a seller’s market, the buyer is at a disadvantage when it comes to negotiations. The chance of getting a contingent offer is minimal and pushing for certain closing dates and specific repairs may do more harm than good to their offer. A cash offer has significant power in a seller’s market. If a buyer can make a cash-heavy or even all-cash offer, it is likely to stand out to the seller. It gives the buyer more buying power and greatly increases their chances of winning a bidding war.
Home needs vs wants
Finding your dream home may not be easy, but there are things you can do to make it easier, like creating a “Must-Haves” list and a “Nice-To-Haves” list. These lists allow serious homebuyers to save time, energy, and ultimately, money as they prepare to buy a home.
A Must-Have List is exactly what it sounds like, a checklist of the details that are non-negotiable for your new home. It’s essential to sit down and think about the things you need in order to feel comfortable there for the next 7-13 years.
Your “Nice-To-Haves” list is a checklist of details that you’d like to have, but you can live without. This list is great for those things that you’ve always dreamed of but may be out of reach for reasons such as your budget or location. This list may include things like fireplaces or gas appliances, a pool, or other non-essential items.
Your “Must-Haves” list focuses your search and helps your agent narrow down which homes are worth your time. Your “Nice-to-Haves” list will help you determine what you’re willing to sacrifice, which will ultimately solidify your must-haves.
These lists can also help manage your expectations regarding price. Take your lists to your real estate agent, along with your pre-approval from a lender, and you’ll be able to work together to determine what is a reasonable ask within your budget and your desired location.
Creating Your “Must-Haves” List
The first step is to think about the essentials. If things like location and number of bedrooms and bathrooms are a priority, then you’ll want to include them in your must-haves. Consider where you live now and use that as a starting point; what do you love and what are you missing? You may need more storage space, or an extra room to work remote, or a larger backyard for the newest member of the family.
Here are some questions to ask yourself as you build your “Must-Haves” list:
- Where do you want to live? (Be as specific as you can.)
- What do you have now that you can’t live without?
- What are you missing now that you may need for the next several years?
If you’re struggling to determine what it is you need to have, you can start working on your “Nice-To-Haves” list. This can also help you determine what is essential. For example, it may be nice to have five bedrooms when in reality, a three-bedroom house with a flex space that works for an office or guest room would do the trick.
Creating your “Nice-To-Haves” List
While you’re working on your “Nice-To-Haves” list, you’ll be thinking about the parts of a home that would be great to have but aren’t as important for you. You might also want to take into consideration what is reasonable in your area and if it’s a common amenity.
Here are some questions to ask yourself as you build your “Nice-To-Haves” list:
- What home upgrades are you willing to make?
- What is something you’d like to do in your house more often?
- What do you have in your current home that you love, but don’t need?
Searching for Your Next Home
These lists will help guide you and your real estate agent as you search for your next home. During this process you might realize some aspects aren’t as important to you as you thought, and vice versa. Keep your agent in the loop as you update your lists so they can continue to search for the perfect home for you.
