It’s a fact. All the events of 2020 left more and more would-be homeowners buying a home, sight unseen. That trend continues. Homebuyers purchasing a home they had not previously seen in-person is nothing new. People making long-distance relocations have been making use of the Internet and trusted agents for quite some time now. But, it’s only recently that this trend saw a steep incline in the...
There’s no denying that building a new home—rather than buying an existing one—remains popular with homebuyers. In fact, new home construction increased 5.2% on a year-over-year basis last year. New home starts totaled 1.38 million in 2020. That’s an increase of 7% compared to 2019. If you’re thinking of a new home, you may have given some consideration to new construction,...
The number of self-employed individuals across the country continues to grow, with an estimated 16 million people opting to be their own boss. While the gig economy is booming and self-employment has become increasingly commonplace, the hurdles faced with obtaining a home mortgage remain. Ask any lender and you’ll learn the stark truth: it’s easier to qualify when you can show a W-2. That...
If you’re a fan of HGTV, you’ve probably been entertained by shows where prospective homeowners are shown houses that seem to meet their needs, only to bicker bitterly over one feature or another. She wants to be close to downtown, he wants to live in the suburbs. She wants a large backyard, he wants something that doesn’t require a lot of yardwork. You get the idea. First off, I am obligated...
Buying a home is a big commitment, but it also has a great many advantages. If you’re throwing money away on rent month after month, what’s holding you back from making the move to homeownership? The truth is, there are a lot of myths about buying a home that keep people from making the move. But in reality, instead of renting, they could be owning their own home. Here are five of the most...
It seems like much is written about making an offer on a house—how much to offer, what contingencies to consider and how to make your offer stand out. But a surprising number of buyers—especially first-time would-be homeowners—do not come to the real estate process with a clear understanding that they are entering into a legal contract when making an offer on a home. For the...
Homeownership is certainly not without its costs. Saving for a down payment and coming up with closing costs are just the beginning. Covering costs like maintenance, repairs, insurance, and HOA fees are among the expenses that soon become too familiar with new homeowners. But the alternative—renting—also comes with its own slate of costs. The choice of whether it is better to buy or rent has...
Thinking about buying a fixer-upper? Buying a property in need of renovation and turning it into a suitable personal residence can be extremely satisfying. But tackling a fixer-upper can also be challenging. For starters, when inventories are tight, it can be difficult to purchase a fixer-upper at a significantly lower price than the market value of a comparable move-in ready home. That can mean...
Buying a home for the first time can be nerve-wracking and exciting, all at the same time. There are so many things to remember, so many considerations to be had and so many decisions to be made. It’s no wonder, then, that some homeowners find themselves committing blunders when it comes to their search for the perfect home. At times, those mistakes can be costly or even get in the way of a...
It’s hard not to get glued to the 30-minute drama of some of today’s property-buying-flipping-loving-and-listing lineup of real estate reality TV shows. After all, they are pretty entertaining. And, that’s the point. These shows are simply entertainment. But if you log too many hours watching reality TV versions of real estate, you may start to get a skewed idea of what it’s really like...
