5 Tips For An Easier Thanksgiving Cleanup If You're Hosting For the First Time
Thanksgiving is easily anyone's favorite holiday of the year. With each bite of the glorious roast turkey, spoonfuls of delicious mashed potatoes, gravy, and cranberry sauce, and even a slice of pumpkin pie, we are transported closer to Christmas and the spirit of giving. But with a great feast comes a huge cleanup, which many are not looking forward to. You may be all set and ready for the Thanksgiving dinner, especially if you’re hosting for the first time in your new home, but have you thought about the subsequent cleaning load? Here are five easy and quick tips to make the Thanksgiving cleanup process easier and ensure the day’s more enjoyable for you and your loved ones.
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5 Things You Didn't Think You Need To Ask About Before Buying A House
Need to dig deeper into the home you're looking to buy? Asking the right questions — and not just the kind that randomly pops into your head — can help you get as much information as you need to put together a competitive offer. Likewise, you will be able to save time, money, and potential headaches if you hit all the necessary topics head-on. It’s part of your due diligence as a buyer, especially since this could be one of the biggest financial commitments you'll ever make. If you're feeling stuck not knowing what else to know about the property, we’ve pulled together a list of some things that may not be so obvious to ask but can get you closer to finding a home that's a good match for your lifestyle and budget. Utilities can vary depending on where you live and based on the systems and size of the property. Aside from your monthly mortgage payments, getting an estimate of your monthly maintenance and utility bills is just as important to ensure you can afford to comfortably live in the home. Especially if you're a first-time home buyer, it’s best to learn how the home is being heated — by gas, electricity, solar power, or combination — and what the average monthly bill for each is. You’ll also want to inquire about water, waste removal, broadband, and any other applicable maintenance and utility costs. By breaking down information like this, you can have a general idea of how much you’ll spend and incorporate it into your monthly budget. Have they overhauled the kitchen? Added another room? Broken down a wall? Installed a new HVAC? You'll also want to know what major renovations the owner has done since it will give you a ballpark idea of how much money they have spent, and what they hope to get out based on a project’s average return on investment. You can also check receipts from contractors to get a sense of what they paid for such upgrades. But the most crucial reason is for you to guarantee that these additions follow local building codes. Any major improvements—structural additions, installing a new roof, any electrical and plumbing work, or installing/replacing the HVAC system—need to be done by a licensed contractor and be completed to code. Any sketchy renovations and/or mediocre construction can end up costing you money and your health. See whether the seller can produce a building permit for repairs and renovations that require one. If they don’t have the permits or if the work was done by a previous owner, you will need to double-check it with the local building department. Owning a home means keeping up with its maintenance, which includes looking after each of its components. During showings, don't forget to ask about the age and condition of the home’s major systems, including HVAC, roof, water heater, and major appliances such as washers and dryers, stoves, and others. Knowing these early in the process will help you factor in the cost of replacement when looking at the asking price. As a future homeowner, it’s a must to know if something needs to be repaired or replaced soon. Because the last thing you’d want is to find yourself in a situation where you need to shell out thousands of dollars to fix something that you thought was in pristine condition just a few months after moving in. A roof, for instance, is a major component that’s also very costly to repair or replace. It’s critical to consider how much it will cost you on top of your down payment and closing costs if it’s old and needs repairs. If the roof has existing damage, the lender may require that it be repaired to approve your loan. So if the listing description doesn’t list the roof’s age, make sure to find out so you can avoid a costly disappointment later on. Additionally, you should ask the seller about the warranty information on appliances; requesting the original manufacturer warranties on any appliances or systems if possible. These will serve as documentation and will give you an idea of their remaining lifespan, as well as their potential replacement costs. When choosing your first home, don't forget to check out the parking situation on the property. Will your car(s) fit in the garage? If you and your family have multiple cars, will there be room to park anywhere else on the property other than the driveway? Make sure you ask the rules about on-street parking to avoid fines or high insurance costs. If you decide to throw a party, will guests need parking permits? How many permits are you allowed to get? Some streets may require a permit, which you may need to apply for. It would also be a good idea to visit the house after work hours and see how crowded the parking is on the street, especially if you live in a busy street which can be more difficult to navigate. Are there rumors that the property is haunted? Had it been the scene of a crime? Is it located next to a cemetery? Did anyone famous ever live there? In many states, owners are legally bound to disclose if a death or major crime has occurred recently on the premises. You might not care if the house has a reputation or has any associated stories or rumors, but it's still a good idea to ask around. There are what they call “stigmatized properties,” defined by the National Association of REALTORS® as any “property that has been psychologically impacted by an event which occurred, or was suspected to have occurred, on the property, such event being one that has no physical impact of any kind.” These conditions could give you room to negotiate a lower purchase price since a house that has some negative associations will often be harder to sell.
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Honoring All Who Served and The Many Advantages of VA Loans
Thank you, dear veterans, for your valor, strength, service, and dedication to protect us and keep us safe. Veterans sacrifice a lot to protect the country. And one way to show appreciation to them and their families is to make sure they know about the mortgage loan that's available to them: the Veterans Affairs loans by the U.S. Department of Veterans Affairs. Here are the top four advantages of VA loans: No down payment - This is the biggest advantage of the loan program. Qualified veterans can purchase a home without making a down payment, no matter how much home they're buying. Don't require private mortgage insurance (PMI) - Unlike other loans that require 20 percent PMI, VA loans do not, allowing military borrowers to save on their monthly mortgage payments. Limits on closing costs and fees - VA loans actually limit the loan-related costs qualified home buyers can be charged, making home ownership more affordable. A lifetime benefit - There's no expiration to this program, and veterans who qualify for a VA loan can use it over and over again. Bottom line VA loans are one of the most powerful mortgage options available on the market for veterans, service members, and qualified surviving spouses, which is why it’s so essential to learn about this program and its advantages.
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What's Ahead in Real Estate? 5 Trends and Features To Watch Out For in 2022
The coronavirus pandemic turned the real estate market into a frenzied rollercoaster ride for both buyers and sellers. Especially because of the historically low mortgage rates coupled with the inventory shortage. But with the pandemic subsiding, the burning question is, what will happen in real estate in 2022? Housing experts forecast the market could calm down this year and ease up a little, especially for many first-time buyers. While no one knows what the future has in store, here we have compiled a list of five real estate trends that home buyers and sellers should be aware of as they navigate the market this year. Due to the surge of buyers during the pandemic, both existing and new home inventory has been extremely low throughout 2021. According to experts, inventory will remain scarce this year and we will continue to be in a seller's market. The February 2022 Monthly Housing Market Trends Report by the National Association of Realtors® (NAR) revealed that the national inventory of active listings declined by 24.5 percent over last year, while the total inventory of unsold homes, including pending listings, declined by more than 15 percent. Newly listed homes were also down 0.5% nationally compared to a year ago. One of the main catalysts for the low inventory is that homeowners have been hesitant to list their homes for sale, as there is no guarantee they will be able to find an affordable home to purchase or a rental to lease. Builders are trying to ramp up production, but new home construction isn’t keeping up with the surge in demand. There have been huge issues with the supply chain, which made construction materials more expensive and difficult to come by. Tips for buyers: To find a good home in this tight market, do as much legwork as possible. Make sure you get pre-approved for a mortgage before you even start house-hunting. Sacrifice some of your nice-to-haves for your must-haves. If the neighborhood you have been eyeing is too competitive, try to expand your search. Lastly, do not hesitate to work with a local and experienced realtor who can help you navigate the complicated process of buying a home, especially if you’re a first-time buyer. Your agent knows what is happening on the market and can give you the best advice to find the perfect home that fits your budget and lifestyle. Tips for sellers: Low inventory, where homes are being snatched up fast, means less competition! Even if your home isn’t quite as appealing to many other buyers, or you intend to sell as-is without renovations, you still stand a better chance in the current real estate market. Just make sure you plan for your next home before you decide to sell. Over the past year, mortgage rates have stayed extremely low, but that will likely change in 2022. New projections by the Federal Reserve show seven rate hikes this year, up from three projected rate hikes in December 2021, which means mortgage rates will likely rise. Both Redfin and Realtor.com predict a 30-year-fixed mortgage rate will reach 3.60 percent, while the Mortgage Bankers Association expects the average rate on a 30-year loan to reach 4 percent, by the end of 2022. The combination of lingering inflation, consumer spending, and the pandemic subsiding is what's driving mortgage rates higher. Just like groceries, gas, and everything else, house prices are going up. And while historically low mortgage rates helped offset the higher listing prices in 2021, experts forecast both home prices and mortgage rates to go up this year. According to a recent report by the NAR, the national median sales price of single-family existing homes increased to $363,700 by the end of 2021, mainly due to strong home buyer demand and limited housing supply. In 2022, existing home sales prices will continue to increase, rising 2.9 percent. Tips for home buyers: Know how much house you can really afford and commit to staying within that budget no matter what. Likewise, take the time to research lenders who have a good combination of low rates and low fees, then apply for a mortgage pre-approval. Tips for home sellers: Higher home prices mean a nice profit is on the horizon! But to get more money from your biggest investment, work with an experienced and local real estate agent to help you get the best offer for your home. Home appreciation refers to a home or investment property that increases in value over time. Throughout 2021, homes appreciated at rapid rates, mainly because the market has been so hot across the country. Housing experts suggest it may change in 2022, they expect the rapid appreciation rate to slow down and will be lower than last year. According to the NAR, home sales will take a breather after what has been a spectacular housing market in 2020 and 2021. Thus, home price appreciation is expected to be at 2.8 percent this year, down from 14.7 percent in 2021. Tips for home buyers: The slowdown provides a better environment for buyers because the homes they purchase may not skyrocket in value as quickly as they would have in 2021, and may help avoid bidding wars. But at the same time, prices won't seem to be going down. Many Americans will also no longer face the prospect of home values far outpacing their pay raises. In 2022, renovations will continue to come in all shapes and sizes. More people will gravitate towards using nature-inspired colors to give a calming vibe to their homes, including greens, blues, taupes, and browns. Many potential and recent buyers are drawn to colors associated with water and sky, as demonstrated in Zillow's interior paint color analysis. Research has found that homes with light blue bathrooms could sell for 1.6 percent more than expected or nearly $5,000 on a typical U.S. home. Meanwhile, dark, moody blues in the bedroom could sell for a $1,500 premium. Aside from matching the colors of Mother Earth, sustainability is also a top priority, especially for younger homeowners. Home listings with descriptions mentioning eco, energy-efficient, or similar terms have sold more than two days faster than expected. Listings that mention drought-resistant features sold 13 days faster, and smart sprinkler systems and double pane windows installed for energy conservation were associated with homes selling more than a week quicker than expected. After the tough two years, one thing that almost everyone learned is to prioritize their mental health. We see this reflected in thoughtful wellness home designs, including retreat features such as meditation rooms, reading nooks, and even spa-inspired bathrooms. According to Zillow, a freestanding bathtub can lead to a 2.6 percent premium on a home’s sale price. Even features such as a “she shed” can help a home sell for 2 percent more than expected. Natural light will also be a priority, especially in home offices and common spaces.
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