Here are four great reasons to consider buying a home today instead of waiting.
1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Insight report revealed that home prices have appreciated by 5.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next year.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4.8%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase in 2019.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.
3. Either Way, You are Paying a Mortgage
There are some renters who have not yet purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person building that equity.
Are you ready to put your housing cost to work for you?
4. It’s Time to Move on With Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.
If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
Another great property sold! 103 S Meadow Street Richmond VA 23220. We can help you find your dream home too! Selling your home? We can help you sell your home fast! Give us a call today at 804-898-2250.
This property is priced at 279,900 and contains 4 bedrooms and 2.5 bathrooms. The home is 2,112 square feet and has hardwood flooring throughout the house. Call Hope Realty at 804-898-2250 for more information.
FEMA recommends that you have a Disaster Supplies Kit. After an emergency, you may need to survive on your own for several days. Being prepared means having your own food, water and other supplies to last for at least 72 hours.
A disaster supplies kit is a collection of basic items your household may need in the event of an emergency. Most items are easy to find and fairly inexpensive. To assemble your kit, store items in airtight plastic bags and put your entire disaster supplies kit in one or two easy-to-carry containers such as plastic bins or a duffel bag. Put it in a place that you could reach quickly but is up high and safe.
You may also want to have a similar kit in the trunk of your car.
A basic emergency supply kit could include the following recommended items:
Download FEMA's Recommended Supplies List (PDF)
You are ready to delve in and start house hunting. You can envision the house of your dreams when you close your eyes, but can you name the style of the house you are looking for to your agent? We have collected a list:
An A-frame house is an architectural style house featuring steeply-angled sides that begin at the foundation line, and meet at the top in the shape of the letter A. An A-frame ceiling can be open to the top rafters. This style was most popular 1950-1970 but can still be found in resort areas.
This style was popular in the 1930’s but was first built back in 1675. The Cape Cod has a steep roofline, wood siding and multi-paned windows with hardwood floors. Originally, these homes featured heavy shutters that could be closed during a storm and a large central chimney that was linked to fireplaces in each room. Today, modern Cape Cods typically only have decorative shutters, and chimneys are often placed at one end of the roof instead of at the center.
The Colonial home dates back to 1876 and is one of the most popular styles in the US. Colonial style homes usually have two or three stories, fireplaces, and brick or wood facades. The classic Colonial house floor plan has the kitchen and family room on the first floor and the bedrooms on the second floor.
Usually has an irregular or asymmetrical façade with strong geometric shapes. It incorporates historic elements with current styles. Most have an open floor plan with plenty of large windows and light.
The cottage home is usually small and sometimes referred to a bungalow style home. These homes sprung up everywhere in the 1920’s. Most have a large front porch and a second story tucked into the attic space. You can find sweet features such as window seats and built in shelves or dinning booths.
The Craftsman was very popular between 1905 and the 1930s, and it's popular today as well. A distinguishing feature of the style is the large amount of interior woodwork, such as built-in shelving and seating. The exterior often has low-pitched roofs with wide eave overhangs, exposed roof rafters, decorative beams or braces under gables, and porches framed by tapered square columns.
Farmhouses are found throughout much of the country. The foundations are rectangles usually with one or more additions; roof lines are also simple. Farmhouses typical have tall, narrow windows laid out for cross breeze, large porches, wood siding, and may even include a metal roof.
When you own your home, things are going to break and, unless you want to spend your money on visits from a neighborhood handyman, you’re going to need to fix them yourself. Luckily, you don’t need an arsenal of tools to handle most home maintenance fixes. These five tools will cover most of your basic projects.
1. Cordless drill. A cordless drill is a must-have for installing cabinets, drawer pulls, hinges, picture frames, shelves and hooks, and more. Whether it’s for do-it-yourself projects or repairs, you’ll use your cordless drill just about every month.
2. Drain cleaners. Shower and bathroom sink drains are susceptible to clogs because of the daily buildup of hair and whisker clippings. You can use chemical clog removers like Drano, but they’re expensive and the lingering chemical scent is unpleasant. Instead, buy some plastic drain cleaners that can reach into the drain to pull out the clog of hair and gunk. You can purchase them on Amazon or at a local hardware store for a low price.
3. Shop-vac. No matter how careful you are, spills and accidents will happen and there are some tasks that just can’t be handled with paper towels or a standard vacuum, like pet messes or broken glass.
4. Loppers. Even the minimum amount of care for your landscaping will require some loppers to remove damaged branches, vines, thick weeds, and any other unruly plants in your yard.
5. Flashlight. You’re going to want something a little more powerful than your iPhone flashlight when you’re in the crawlspace!
Another great property sold! 501 Green Orchard Drive, Chester, VA 23836. We can help you find your dream home too! Selling your home? We can help you sell your home fast! Give us a call today at 804-898-2250.
When you are selling your house and looking for a new one, the actual act of moving may be at the bottom of your list. But if you plan it right, you could save money and a lot of frustration.
Shop around and get some quotes from movers or renting a truck. Be sure to check out the reputation of the company by checking their website and looking for comments from customers online. Remember that the cheapest is not always the best. Read the contract and ask questions.
Best Time of the day to Move: Early Morning
Early morning is usually cooler in the warmer months. By late afternoon you want to be packed up and, on the road to beat the heat.
Best Day of the Week to Move: Weekdays (Monday through Thursday)
During the week there is less demand for moving companies. Moving on the weekend could increase the cost of your move. Moving during the week also means that you will have the following weekend to unpack and start getting yourself organized in your new home.
Best Week of the Month: Mid-month
If you can swing it, plan your move in the middle of the month. The demand is highest at the beginning and end of the month. That means that typically mid-month is going to be the least busy time for moving companies.
Best Month of the Year: Mid-September through April
Most people plan their move around the school year and warm weather, so summer time is the busiest time of the year for movers. Peak season is typically from Memorial Day to Labor Day. 70% of all moving takes place in the warmer season. So early Fall to early Spring is going to save you on cost and allow for a more flexible moving schedule.