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The big difference between the net worth of the tenant The big difference between the net worth of the tenant and the owner

The big difference between the net worth of the tenant and the owner

The big difference between the net worth of the tenant and the owner Did you know that the net worth of a typical homeowner is approximately 40 times that of a renter? This is because home ownership is the number one way to build wealth in this country. When you own a home, your net worth increases as you pay off your mortgage and the value of your home increases. Want to learn more about this great financial benefit or programs that could help you become a homeowner?

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Is it a good time to sell a house or Is it a good time to sell a house or should I wait until 2025?

Is it a good time to sell a house or should I wait until 2025?

Are you wondering if now is the right time to sell your home or if you should wait until 2025? Overall, it’s a good time to sell a home in late 2024, especially if you’re in a seller’s market, but the market is showing signs of slowing, which may continue into 2025. However, the ideal time to sell varies depending on numerous factors, including local market conditions, personal circumstances, and predictions for the future of the real estate market. Let’s dive into the details to help you make the best decision for your specific situation. Is it a good time to sell a house or should I wait until 2025? Understand the typical best time to sell a home in the US. In the United States, conventional wisdom has long been that the spring and early summer months (roughly March through June) are the optimal time to sell a house. There are a few reasons for this: Increased buyer activity: Historically, the spring season sees an influx of buyers eager to move before the school year begins or enjoy the warm weather. This increased demand can translate into more potential offers and faster sales. Pleasant climate: Spring and early summer typically offer favorable weather conditions, making it easier for buyers to tour homes and participate in open houses. School Year Transition: Families often want to complete their moves before the new school year begins, leading to an increase in buying and selling activity. However, these traditional trends have been somewhat altered in recent years. The real estate market has experienced a lot of volatility, influenced by economic conditions, interest rates and inventory levels. While spring and early summer can still be advantageous, it is not always a guaranteed formula for success. Current real estate market conditions (end of 2024) Source: Fannie Mae The real estate market at the end of 2024 shows some signs of cooling after a period of intense activity. While we have seen a significant improvement in housing sentiment over the past two years, according to Fannie Mae, there are some factors to consider: Consumer confidence: The Fannie Mae Home Buying Sentiment Index (HPSI) has increased, indicating that consumers are feeling a little better about the housing market. But the percentage of consumers who think it’s a good time to buy a home remains relatively low (to 20% in October 2024). Good time to sell: While there is a higher proportion of consumers who believe it is a good time to sell compared to those who believe it is a good time to buy, the proportion of sellers actually decreased slightly to 64% in October 2024 from the month former. This indicates some weakening in the sellers’ market. Mortgage rates: While mortgage rates have seen some fluctuation, they have been a major concern for potential buyers. In the first half of October 2024, consumers were slightly more optimistic about mortgage rate reductions, but a subsequent increase in rates may have impacted that sentiment. Home Price Expectations: Consumers still anticipate home prices to rise over the next 12 months. However, the net share of those anticipating price increases has increased only slightly, indicating that the rapid rise of recent years may be stabilizing. Rental Preference: A direct result of the high home prices of recent years is a growing preference for renting, especially in the context of consumers’ future housing decisions. With rental growth expected to be modest in 2025, more attractive deals may be found in the rental market. Factors to consider before selling your home in late 2024 Before making a decision about selling your home in late 2024, it is wise to consider these important factors: Local Market Conditions: Your local market will have a big impact on your ability to sell your home quickly and for a good price. If you live in a competitive market with high demand and low inventory, you may be in a more advantageous position compared to a market with a surplus of homes for sale. Talk to a real estate agent in your area to get a more accurate picture of your local market trends. Inventory levels: If your area has a greater number of homes currently for sale, you may experience more competition and a longer time on the market. On the other hand, if there is little inventory, you will probably have more bargaining power. Your personal circumstances: Your own individual situation should always be a primary consideration in any housing decision. Are you moving for work, need to downsize, or just looking for a change of pace? Interest rates: Fluctuating interest rates have a large effect on buyers’ ability to obtain a mortgage. If rates are going up, you may find a smaller pool of potential buyers and a potential impact on your sales price. In my opinion, if you need to sell, it is still a reasonable time to do so. However, the market is changing, and you may want to keep in mind that prices may not continue to rise as they did in previous years. What about waiting to sell in 2025? Many people are wondering if it would be better to postpone selling their home and wait for market conditions to improve in 2025. It’s a valid question, and here’s what I’ve been thinking and reading about it: Deceleration potential: Experts predict that the housing market could experience a modest slowdown in 2025. This could be due to factors such as higher interest rates, lower buyer demand, and a possible increase in housing inventory. Mortgage Rate Predictions: Experts predict that mortgage rates may continue to be a challenge for buyers in 2025. Economic uncertainty: The overall economic outlook remains a source of uncertainty. A possible recession or economic slowdown can have a substantial impact on the real estate market. Increased inventory: There is a possibility that more homeowners will decide to list their properties for sale in 2025, which could lead to a greater inventory of homes for sale. Should

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The 5 Most Common Improvements Sellers Make Before Listing Their The 5 Most Common Improvements Sellers Make Before Listing Their Home

The 5 Most Common Improvements Sellers Make Before Listing Their Home

Last updated on November 13, 2024 According to a recent report, nearly 65% ​​of all sellers who recently listed their home for sale did at least two projects to help present their home in the best light possible before selling it. While not all projects generate a significant return when sold, there are several projects that make financial sense and virtually pay for themselves at the closing table. Before revealing the list of the best projects to tackle before selling, it is imperative that you understand that this is a general list, compiled using national data. After reading this list, your next order of business should be to find an experienced real estate agent in your area who can talk to you about the exact elements you should consider improving to maximize the sale of your home. Now that you understand that caveat, here are the most common improvements sellers make before putting their home on the market. fresh paint If you're selling your home in the future, you can bet there will be paint cans involved. Buyers are looking for a fresh, neutral canvas to imagine their new life in their home. The best thing to do is to repaint all the walls with pale neutral paint colors. Cool gray paint colors were trending years ago, but today's buyers crave warmer spaces. Stick to warmer neutrals like Benjamin Moore Manchester Tan, Edgecomb Gray or Classic Grey. If it's been a while since you touched up the trim or it looks dirty, it's also a good idea to repaint it to keep it looking clean and crisp. While you're at it, you may have to show your exterior some love with a more modern paint color. Curb appeal improvements are especially important when selling, so if your home needs a new or updated coat of paint, don't overlook this investment. If your exterior has seen better days and even the most current color can't fix it, it might be time to replace your siding. The latest Cost vs. Value lists this investment as a great value, and owners can expect to recover between 88 and 94% of their costs. Curb Appeal Improvements The goal with the right curb appeal is to welcome buyers into your home. It's mentally difficult for buyers to get over a bad first impression, and for that reason, exterior and curb appeal improvements are often at the top of sellers' to-do lists. These are the best improvements that can be made based on return on investment: Liner replacement Garage door replacement Paint your front door Entry door replacement (steel) In addition to these big-ticket items, in a recent survey by Zillow, investing in landscaping topped most sellers' lists. Ranging in cost from $500 to $3000, if you're willing to put in some effort here, you can save a lot of time. How about a new roof? How does that compare in terms of ROI? Unfortunately, replacing a roof at the end of its useful life is not something that will necessarily increase the value of your home, as it is something that buyers expect to be in good condition. Keep in mind that a roof that needs a lot of care and attention will be flagged on an inspection report and may give buyers cause for concern. New lighting Now here's a task you can easily accomplish in a weekend: contemplate the power of proper lighting! About a third of sellers seriously upgrade the lighting in their home before listing. What's more, a recent report showed that upgrading lights to LED lighting is associated with a 1.5% sales premium. While we're talking about lighting, don't underestimate the power of lamps! Lamps create a cozy atmosphere that simply cannot be recreated with overhead lighting. If you're missing a good number of lamps in each living space (ideally at least 3, but the more the better), it's time to turn to Home Goods or Target to invest in some ambiance. Bathroom Updates Many sellers think they have to clean out outdated bathrooms before putting their home on the market, but this couldn't be further from the truth. Minor bathroom updates are where sellers see the biggest return on their investment. Things like replacing outdated lighting fixtures, adding framed mirrors, replacing worn knobs and plumbing fixtures, and refinishing a worn bathtub are worthwhile investments. Minor updates in kitchen. Spending money to invest in the appearance of your kitchen just got easier, as the Cost Vs. Most recent value indicates that a minor kitchen remodel typically returns over 96% when it comes time to sell. With an average cost of $26,000, a minor kitchen remodel includes: New shaker-style door and drawer fronts New hardware new appliances New sink/faucet RVP floors New countertops/backsplash As with all major investments you make before selling, it's best to talk to your real estate agent before starting any large-scale project. Look for a real estate agent with local experience; You want an expert with knowledge of your local area who knows what projects are worth doing based on the price of your home. If you are seriously considering selling your home soon, we recommend a physical exam! Whether you're planning to sell soon or stay in your home for years to come, a home physical exam can help you save money in the long run by helping you make smart decisions when remodeling or repairing your home as it ages. If you are ready to receive a complete “checkup” on your home, the real estate experts at Allen Tate are here to help. Fill this form To start today! ________________________ Allen Tate is the largest real estate company in the Carolinas with more than 70 offices and 1,800 real estate agents in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner at Howard Hanna Real Estate, the largest private real estate brokerage in the U.S., with 500 real estate, mortgage, insurance, title and escrow services offices

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The latest trends in bathroom remodeling The latest trends in bathroom remodeling.

The latest trends in bathroom remodeling.

Last updated on November 8, 2024 In the latest Cost vs. Value, the average mid-range bathroom remodel costs just over $24,000, while a larger-scale remodel costs more than $72,000. Whether you're looking to simply make some cosmetic changes to your current space or tear your current bathroom to the ground, here's what's hot in the world of bathroom design. Seventy-nine percent of homeowners choose to maintain existing space when renovating their bathroom. Those who choose to expand their space do so by removing square footage from a closet or building an addition. More than 55% of all renovated bathrooms are a modest size of less than 100 square feet. As the average price of renovating a bathroom continues to rise, more and more homeowners are deciding to cut costs in an effort to save budget. Interestingly, in previous years, increasing the size of the shower was a major trend, but in 2024, we will see that trend begin to decrease and less people choose to expand the shower space. Wet rooms Wet rooms are gaining popularity year on year, with 13% of homeowners renovating their bathrooms choosing to add this feature. Not only is this a better use of space, but it is also great for residents aging in place, as these wet rooms are curbless entrances. Freestanding bathtubs The oversized garden tubs that graced new construction in the '90s are slowly being retired and replaced with sleek freestanding tubs. Thirty-seven percent of homeowners renovating their bathroom choose these space-saving tub styles, with the majority opting for a flat-bottom acrylic tub. Classic finishes While bold colors like green are trending, white has always been and continues to be the favorite color when it comes to vanities, countertops and tiles. Considering that white finishes have dominated the bathroom design world for decades, designing a bathroom using primarily white finishes will never go out of style. You can inject personality with easily changeable wall colors, greenery, and even artwork. Tile floors Tiles, tiles and more tiles! The vast majority of those who renovate their bathroom opt for tile floors and shower walls. The art of mixing metals in home design is not just for the kitchen, as this idea has slowly made its way to the bathroom as well. With interior designers leading the trend for this eclectic approach, more and more homeowners are opting for a more curated look and looking to achieve this by mixing metals. The key to achieving this look is to keep plumbing fixtures in the same metal family and then have fun with light fixtures, cabinet pulls, and other accessories. Showers without curb As more and more homeowners want to age in place, master bathrooms are being renovated with that in mind. Curbless showers are trendy and exceptionally functional, bridging the gap between accessibility and perfect design. Interested in seeing other trending home design ideas? Verify the latest trends in home improvement ROI. Transitional style is still king With 23% of homeowners choosing this aesthetic, transitional style is the most popular bathroom renovation style, ahead of contemporary (16%), modern (15%), traditional (11%), farmhouse style ( 5%) and eclectic (5%). ). Wooden dressing tables are now the most popular. White aside, wooden vanities are now the most popular choice for those renovating their bathrooms, with 26% opting for this style, followed by white (22%), gray (11%), blue (11%). ) and the whitish. (10%). However, white remains the most popular choice for vanities and shower walls. ________________________ Allen Tate is the largest real estate company in the Carolinas with more than 70 offices and 1,800 real estate agents in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner at Howard Hanna Real Estate, the largest private real estate brokerage in the U.S., with 500 real estate, mortgage, insurance, title and escrow services offices and 15,000 sales associates and staff. in 13 states. For more information, visit www.allentate.com and www.howardhanna.com. Visited 227 times, 3 visit(s) today

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In the Spotlight Property Score Filter Email Alerts and More In the Spotlight: Property Score Filter, Email Alerts, and More

In the Spotlight: Property Score Filter, Email Alerts, and More

We're excited to bring you more powerful features to help you make smarter real estate investment decisions with the latest updates to Mashvisor. He first part of In the spotlight showed filters for investors in short-term rentals and new ways to use the Map Property Finder tool. In this blog post, you'll discover a new way to see only properties with high investment potential, learn about recently listed properties, and get a list of their comparisons. Let's explore these further. Filter by property score In addition to providing you with tools to help you research the best real estate markets and find the best investment properties, we have also created a new proprietary rating system called Property Score. While Mashmeter measures a neighborhood's investment potential, Property Score Measures whether a home listing would be a profitable rental property. Therefore, if you want to focus only on properties for sale that have the highest overall investment potential, you can use the new Property Score filter to only display listings with Property Scores that meet your preferences. How to access this feature Gonna Property finder on the maplow Find and invest. Click More filters. Click +Add across Property Score (investment probability). Use the slider to toggle which property scores you want to view. The score ranges from 0 (lowest potential) to 5 (highest potential). Set property alerts You can now set up email alerts for properties that match your search criteria, so you never miss a great deal. When you enable this, we will send you email notifications about new listings and price drops. You can set the delivery frequency to daily, weekly or monthly. How to access this feature while it is in Property finder on the mapClick on the bell icon at the top right of the screen. In the first box, give the email alert a name. In the second box, type the city where you want to receive alerts. Configure the characteristics of the properties you are interested in (property type, number of bedrooms and bathrooms, price range, etc.). Select whether you would like to receive a daily, weekly or monthly email alert. Click Save alert. Export property list Did you know you can export a list of for sale listings, Airbnb offers, and rental offers in a selected neighborhood? This feature has helped real estate agents, brokers, and investors conduct in-depth market research outside of the platform and share potential investments and compensation with their clients or team members. How to access this feature In Property finder on the mapType the neighborhood you are researching into the search box. The export feature will not work on a city level search. Change to Airbnb Compensations either Rental compensationif required. Apply your preferred filters to display only the properties you want to see. Click on the Export button at the top right of the page. Customize your property report If you're using Mashvisor data to present your services or research to current and potential clients, you can add your branding to property reports and make them look official. There is no longer a need to take screenshots of the data and copy and paste them into a separate file; The PDF you download will have your logo and company name embedded. How to access this feature While on a properties page, click the Discharge icon located below the basic property details. The pop-up window will ask if you want to add your company branding. Click yes I want. Add your agency name and logo, then click Save and download. Share a property While creating a property report is a great option to leave a good impression on a potential client, you can also share the property page by copying the link or emailing it directly from Mashvisor. However, please note that the recipient will not be able to see the full details unless they have a Mashvisor account. How to access this feature While on a properties page, click the Share icon located below the basic property details. To copy the property page link, click Copy icon at the end of the URL text box. To share the property page link by email, type an email address in the Email text box, and then press Get into. You can add more email addresses to receive the link to the property page. Once you have done so, click on the Send email button. Learn about the top amenities in a neighborhood In our previous product update, we shared how you can create a filter to only show Airbnb listings with your preferred amenities. But what if you want to discover the most common amenities in a specific neighborhood? Each property details page now includes information about your neighborhood and the top Airbnb amenities in that area. This way, property managers and Airbnb hosts can plan what amenities to offer when they purchase the home they are considering and list it as a short-term rental. How to access this feature While on a properties page, click the Perspectives eyelash. Scroll down to the section, What amenities do the ads have? On the right side of the page. Towards a more insightful investment search We hope these additional features help you invest smarter and earn higher returns. If you have comments, questions, or feature requests, please send us a message in the intercom chat located in your dashboard.

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How long will it take to sell my house How long will it take to sell my house?

How long will it take to sell my house?

Last updated on November 6, 2024 Housing inventory recently hit a 4-year high in September, as the lower-than-low housing inventory levels we experienced during the pandemic are slowly fading as more and more homes come to market. What's more, new homes for sale have increased 4.7% nationally, despite the headwind of mortgage interest rates. With more listings than we've seen in recent years, if you're selling or about to sell, you may be wondering what to expect in terms of how long the entire process might take, from start to finish. It's a good idea to manage expectations when listing your home, and to that end, here's what we're seeing both nationally and locally in terms of average days on market (DOM). DOM national average Today, what's happening nationally is just a snapshot of what's likely happening in your area, as real estate becomes increasingly hyperlocal. At the national level, the latest data shows us that days on market are 55 days. This figure is much higher than the average 48 days on market we experienced this time last year, when inventory shortages were a much bigger issue than today. However, while DOMs have increased year over year, time on market is still well below the averages we saw in the pre-pandemic market. In 2017, days on market were around 64 days, and this was during a seller's market. Regional average DOM Locally, here's what we're seeing in our markets (based on Q3 data): Charlotte: 44 SUN Triad: 42 SUN Triangle: 40 SUN Upstate: 50 DOM Mountain lakes: 77 SUN Asheville: 70 SUN Highlands: 161 SUN What does all this mean for sellers? Even as days on market slowly inch toward pre-pandemic levels, the issue remains: There are still more buyers than sellers. A home that is priced well from the start, has been well maintained, and is properly staged and marketed will sell quickly. As you prepare your home to list, here are some tips to keep in mind: Correct price Even in a seller's market, homeowners should not “test the market” by pricing their home too high. Buyers are getting smarter and, with all the data at their fingertips, they know when something is overpriced. An overpriced home is sure to stay on the market longer than its properly priced counterparts, and when this happens, it leads buyers to ask the question: “What's wrong with that home?” This is still a fast-paced market and buyers take notice when the same home keeps showing up in their search, week after week. Testing the waters with price ends up backfiring, forcing sellers who try this strategy to significantly lower the price of their home. TLDR: Homes that are well priced and in good condition are still oversubscribed and receive multiple offers. Therefore, it's important to price your home right from the start. Instead of pricing your home based on what you think it's worth, let the market determine the sales price for maximum exposure. stage to sell You've heard the saying, “A house staged is a house sold,” and these famous last words echoed by real estate agents around the world couldn't be more true. Homes on the market that are under contract days after listing are impeccably staged. All surfaces are free of clutter. All closets are organized and have about 1/3 of the space empty. All extra rooms and garages are collected and organized to show their potential. All the walls are painted in light, cool neutrals and the curb appeal is so good it practically invites you in for a hot cup of tea. If you need information on elements and practical tips for staging, be sure to check out: How to prepare your garage to sell it. ________________________ Allen Tate is the largest real estate company in the Carolinas with more than 70 offices and 1,800 real estate agents in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner at Howard Hanna Real Estate, the largest private real estate brokerage in the U.S., with 500 real estate, mortgage, insurance, title and escrow services offices and 15,000 sales associates and staff. in 13 states. For more information, visit www.allentate.com and www.howardhanna.com. Visited 3 times, 3 visits today

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Will the real estate market crash in 2024 Will the real estate market crash in 2024?

Will the real estate market crash in 2024?

Accessibility statement realestateexperts.net November 5, 2024 Compliance status We firmly believe that the Internet should be available and accessible to everyone, and we are committed to providing a website that is accessible to the widest possible audience, regardless of circumstance and ability. To accomplish this, we aim to comply as strictly as possible with the World Wide Web Consortium (W3C) Web Content Accessibility Guidelines 2.1 (WCAG 2.1) at level AA. These guidelines explain how to make web content accessible to people with a wide range of disabilities. Adhering to those guidelines helps us ensure that the website is accessible to all people: people who are blind, people with motor disabilities, visually impaired, cognitively disabled, and more. This website uses various technologies intended to make it as accessible as possible at all times. We use an accessibility interface that allows people with specific disabilities to adjust the website's user interface (UI) and design it to their personal needs. Furthermore, the website uses an artificial intelligence-based application that runs in the background and constantly optimizes its accessibility level. This application corrects the HTML of the website, adapts its functionality and behavior for screen readers used by blind users and for keyboard functions used by people with motor disabilities. If you have encountered a malfunction or have ideas for improvement, we would be happy to hear from you. You can contact the website operators using the following email (email protected) Navigation with screen reader and keyboard Our website implements the ARIA (Accessible Rich Internet Applications) attribute technique, along with several different behavioral changes, to ensure that blind users visiting screen readers can read, understand and enjoy the website's features. As soon as a user with a screen reader enters your site, they immediately receive a prompt to enter the screen reader profile in order to navigate and operate your site effectively. Below is how our website covers some of the most important screen reader requirements, along with console screenshots of code examples: Screen reader optimization: We run a background process that learns website components from top to bottom, ensuring continuous compliance even when updating the website. In this process, we provide screen readers with meaningful data using the ARIA attribute set. For example, we provide accurate form tags; actionable icon descriptions (social media icons, search icons, cart icons, etc.); validation guide for form inputs; roles of elements such as buttons, menus, modal dialogs (popups) and others. Additionally, the background process scans all images on the website and provides an accurate and meaningful description based on image object recognition as an ALT (alternative text) tag for images that are not described. It will also extract texts embedded in the image, using OCR (optical character recognition) technology. To activate screen reader settings at any time, users only need to press the Alt+1 keyboard combination. Screen reader users also receive automatic prompts to activate screen reader mode as soon as they enter the website. These settings are supported by all popular screen readers, including JAWS and NVDA. Keyboard navigation optimization: The background process also adjusts the HTML of the website and adds various behaviors using JavaScript code to make the website operable via keyboard. This includes the ability to navigate the website using the Tab and Shift+Tab keys, operate drop-down menus with the arrow keys, close them with Esc, activate buttons and links using the Enter key, navigate between radio elements and checkboxes using the arrow keys, and fill them with the space bar or the Enter key. Additionally, keyboard users will find quick navigation and content skip menus, available at any time by clicking Alt+1, or as the first elements of the site while navigating with the keyboard. The background process also handles triggered popups by moving keyboard focus to them as soon as they appear, and not allowing focus to drift away from it. Users can also use shortcuts such as “M” (menus), “H” (headers), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements. Disability profiles supported on our website Epilepsy Safe Mode: This profile allows people with epilepsy to use the website safely by eliminating the risk of seizures resulting from flickering or flashing animations and risky color combinations. Mode for the visually impaired: This mode adjusts the website for the comfort of users with visual disabilities such as impaired vision, tunnel vision, cataracts, glaucoma and others. Cognitive disability mode: This mode provides different assistance options to help users with cognitive disabilities such as dyslexia, autism, CVA and others, focus on the essential elements of the website more easily. ADHD Friendly Mode: This mode helps users with ADHD and neurodevelopmental disorders read, navigate, and focus on the main elements of the website more easily, while significantly reducing distractions. Blindness mode: This mode configures the website to be compatible with screen readers such as JAWS, NVDA, VoiceOver, and TalkBack. A screen reader is software for blind users that is installed on a computer and smartphone, and websites must be compatible with it. Keyboard navigation profile (with engine problems): This profile allows people with motor disabilities to operate the website using the Tab, Shift+Tab keyboard and Enter keys. Users can also use shortcuts such as “M” (menus), “H” (headers), “F” (forms), “B” (buttons), and “G” (graphics) to jump to specific elements. Additional UI, Layout, and Readability Tweaks Font settings – Users can increase and decrease its size, change its family (type), adjust spacing, alignment, line height, and more. Color settings – Users can select various color contrast profiles, such as light, dark, inverted, and monochrome. Additionally, users can swap color combinations of titles, texts, and backgrounds, with over 7 different color options. Animations – Epileptic users can stop all running animations with the click of a button. Interface-controlled animations include videos, GIFs, and CSS flashing transitions. Content Highlighting – Users can choose to

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Are you planning a new construction Make it timeless with Are you planning a new construction? Make it timeless with these tips

Are you planning a new construction? Make it timeless with these tips

Last updated on October 31, 2024 An astonishing 33% of all homes purchased right now are new construction. If you're planning a new build or saving for a down payment on a new build in the coming months, here are our top tips when planning a timeless new build home. How long will you be in your new home? While it's impossible to predict the future, it's a good idea to sit down and think about how long you might be in your new construction. If you're planning a shorter stay, you may want to lean toward more traditional fixtures and finishes to help with resale value. However, if you are designing a home that you plan to live in for a long time, you can choose elements that speak directly to your style without worrying about it negatively affecting you down the road when it comes time to sell. Regardless of how long you stay in your home, it's wise to consider timeless items rather than modern ones so you can enjoy your home even when trends change. Understand the style of your home When choosing the design of kitchens, bathrooms and elements such as the fireplace, stairs, etc., take into account the style of your home. If you have a traditional house, you should have a traditional staircase. If you have a modern house, you must have a modern kitchen, a fireplace, etc. When you start mixing styles, large areas of your home can quickly look out of place. Inject personality into decor, furniture and paint colors, not fixtures. We get it: there are many options when planning a new construction. To avoid choosing items you may not like in the future, remember that you can inject personality into areas of your home that are much easier and cheaper to replace. Think about paint color, decor, furniture, wallpaper, lighting, and more in terms of how to make your home look unique. If you keep a neutral palette in your fixtures, you won't feel the need to renovate your home years later as your tastes and preferences change. Choose neutral floors Did you know that most people completely change their decor every 7 years or so? The flooring you choose for your entire home should allow you to seamlessly change the decor as you wish. Choosing floors that are trendy or have undertones that are not neutral enough to match different decors can quickly make you regret your choices. For hardwood floors, choose something with a medium brown tone or a pale neutral for a more timeless look. If you are going to place a rug in your home, try to select a neutral shade and stay away from pink or brown undertones, as they are very difficult to work with. For bathrooms, timeless tiles in white, marble or basket weave will always be in style. How to choose timeless wardrobes The kitchen is one of the most important elements to renovate. Homeowners who select classic items that have been in style for decades will be sure to enjoy their kitchen for years to come. When in doubt, you can never go wrong with white cabinets. While cabinet colors like green, black, and even beige are the biggest trend right now, before installing them in your kitchen, ask yourself if you'll still like them in 10 years. White cabinets also give you a clean, neutral backdrop for when you inevitably change your decor in 5 to 7 years. Countertop Options Countertops are expensive to replace, so you'll want to choose one that will fit your lifestyle and design aesthetic for years to come. Look for something that's neutral enough to serve as a backdrop for your changing tastes and decor over the years if you plan to stay in the house for a while. In terms of stone selection, granite is virtually indestructible, but many homeowners are moving away from the look of granite in favor of quartz, which is more neutral but a bit more brittle. If you like the versatility of granite, there are much less used granites on the market that will easily stand the test of time. Marble is still not widely used in kitchens as it is too prone to staining and etching. Marble is a beautiful and timeless choice in bathrooms. plumbing hardware Plumbing hardware and metal mixing in general is a very hot topic, and there are many opinions and options! In terms of plumbing hardware, which, by the way, everyone should coordinate, the most timeless options are chrome, polished nickel, and brass. You can introduce other metals with hardware for cabinets, lights and mirrors. Backsplash Options The most timeless backsplash option that will truly never go out of style is a subway tile. For a classic look that will stand the test of time, stay away from heavily patterned or busy tiles. If you think subway tiles are boring, remember that you can add personality through your pendants, stools, rugs, and curtains/blinds. If you liked this post, check it out The pros and cons of new construction and 5 mistakes to avoid when buying a new construction home. __________________________ Allen Tate is the largest real estate company in the Carolinas with more than 70 offices and 1,800 real estate agents in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner at Howard Hanna Real Estate, the largest private real estate brokerage in the U.S., with 500 real estate, mortgage, insurance, title and escrow services offices and 15,000 sales associates and staff. in 13 states. For more information, visit www.allentate.com and www.howardhanna.com. Visited 1,062 times, 5 visit(s) today

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The Smart Investor39s Guide to Rental Portfolio Loans The Smart Investor's Guide to Rental Portfolio Loans

The Smart Investor's Guide to Rental Portfolio Loans

Consolidating properties into one portfolio loan can generate savings and simplify your strategy. When exploring financing options for rental properties, real estate investors often weigh the benefits of individual loans versus portfolio loans. Rental portfolio loans allow you to streamline all your rental investments into one neat package by combining your properties into one loan. This consolidation can offer better terms, including lower interest rates and reduced fees, making them advantageous for expansion. By understanding how these loans are structured and priced, you’ll know how to make informed decisions. This means looking not just at the surface numbers, but also considering how the terms of the loan (i.e., prepayment penalties, liquidity requirements, underwriting requirements, and other loan conditions) can affect your long-term profitability. Let’s look at rental portfolio loans and break down the calculations behind them using a real-world example so you can see the benefits. Ethan’s scenario: Individual loans vs. Portfolio loan Consider the following example to understand the math behind rental portfolio loans. Remember, this is an illustration, and your actual terms may vary. Ethan owns 10 rental properties. You are considering a rental portfolio loan to consolidate your investments. Here’s a comparison of your options: Individual loans Processing fee: $999 per property Origination fee: 1.5% or $2,000, whichever is greater Portfolio loan (for a loan of 10 properties) Processing fee: $6,000 (estimated) Origination fee: $1,000 By choosing the portfolio loan, Ethan sees a reduction in upfront fees, making it a more cost-effective option. Savings on interest rates Ethan will benefit significantly from a portfolio loan due to its lower interest rates compared to single asset DSCR rental financing. Even a modest 0.25% reduction could save you more than $10,000 over five years and $20,000 over 10 years, underscoring the significant long-term financial benefits of opting for this type of loan. Detailed financial breakdown For both individual and portfolio loans, Ethan’s loan amount is $1,000,000. However, the portfolio loan offers a lower interest rate (7.25%) than individual loans (7.5%), depending on your individual portfolio, resulting in lower monthly payments and significant savings over time. Additional considerations In addition to interest rate reductions that reduce monthly payments, there are also cost savings from consolidating escrow/title fees, legal fees, appraisals, due diligence and more. Portfolio lending streamlines these costs, offering a more predictable and manageable financial plan. Beyond cost savings, Ethan simplifies his rental property business with just one title policy, escrow, one set of loan documents, and monthly payment for his 10 properties. Looking at the numbers, Ethan realizes that the wallet loan is a no-brainer. Lower fees and significantly reduced interest rates mean more money in your pocket, plus an easier way to manage your expanding portfolio.

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Renovation Alert Are Essential Building Permits Needed Before Renovating in Renovation Alert: Are Essential Building Permits Needed Before Renovating in North Carolina?

Renovation Alert: Are Essential Building Permits Needed Before Renovating in North Carolina?

Obtaining electrical, plumbing and HVAC permits have special requirements. “Should I Get a Residential Building Permit in North Carolina?” Before you start calling contractors to do some home improvement projects, it’s smart to check if you need a permit for it. Often, your listing agent will ask if you have a permit for any additions or renovations you have made to the home. When it turns out that a permit is required but you did not obtain one, then you will have to obtain a permit before you can increase the value of your home. This will mean extra work for you and potentially delay the sale of your home. Let’s go over some of the things you need to know about permits in our area. When is a permit required? In North Carolina, you need a permit for different residential construction projects, including but not limited to: • Construction, installation and repair of single-family and duplex homes • Renovations of sheds and outbuildings. • Interior renovations • Terraces, patios and paving stones • Driveways, pools, hot tubs, spas, fences and retaining walls • Demolition projects “A permit is not required for a non-structural upgrade that costs less than $40,000.” In addition to those mentioned above, specific permits are also required for the following home renovation projects: 1. Electrical permits They are necessary if you are installing, changing or repairing your home’s electrical systems. However, if you hire a licensed electrician to replace a light fixture, switch or receptacle, a permit is not required. 2. Plumbing Permits They are necessary when installing, relocating or replacing plumbing systems. Minor repairs and replacements that do not affect the water supply, waste supply or ventilation systems do not require a permit. 3. Mechanical or HVAC permits They are necessary when installing, expanding, relocating or replacing your air conditioning system. You must also apply for a permit if you are converting an appliance to a different type of gas, for example, from propane to natural gas. When is a permit NOT required? You do not need a permit for a non-structural upgrade that costs less than $40,000. However, keep in mind that if your renovation project includes plumbing, electrical, or HVAC changes, you will still need specific permits, even if a general building permit is not required. Interestingly, a permit is not required for ADUs that are no taller than 12 feet. Here are other renovations that typically don’t require permits include: • Replacement of windows and doors • Exterior siding replacements • Replacing stair treads with pickets • Terraces on porches • Replacing a water heater (as long as the new unit uses the same power source and is installed by a licensed plumber) What I shared were just general requirements, but it’s still important to call your local permitting authority. to make sure you are following the rules.

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