More than half of Americans (56%) plan to move in 2021. That's up 21% from last year. The spike might be due to the pandemic's influence on the surge in remote work and the desire for a lower cost of living. Many people now work from home, and using the kitchen table or a small closet as an office isn't preferred as a long-term solution. A new home with office space and more square footage solves the problem, while also giving family members more space to enjoy their favorite leisure activities.
Category: Experienced Homebuyer
When you need the equity in your existing home to buy a new one, selling your home ASAP is top priority. But, when the offers aren't coming as quickly as you like or for the exact amount you need, you might wonder if you can afford to make a move. A swing/bridge loan might be the solution. These loans offer a way for you to access your current home’s equity so you can close on your dream home before it's sold to someone else.
COVID-19 has changed every aspect of our lives, including home buying. Like other states, Pennsylvania recently eased social distancing requirements and updated real estate market health and safety best practices. While buyers are eager to come out of hibernation and take advantage of the lowest 30-year fixed mortgage rates in history, taking time to understand current market conditions and updated safety precautions could make the home buying process less stressful.
When funds are sparse, but creativity is abundant, tackling budget-friendly remodeling projects might be the answer. Simple, low-cost makeovers can add value to your home while showcasing your unique personality. There's no need to hire a team of experts. Focusing on small changes can keep costs down and result in the updated look you desire - no contractors, architects, or designers required.
Existing home inventory is low. This is excellent news for sellers. National Association of Realtor data found existing single-family home prices increased by 4.3% during the second quarter of 2019. In this environment, listing homes at the higher end of the market is unlikely to deter eager buyers. Increased housing demand and low inventory can lead to homes selling quickly, at or above the asking price.
Some people look forward to tax season as much as a visit to the dentist’s office. Others are excited about the possibility of a sizeable tax refund and view April 15 with great anticipation. In either case, this year’s tax filing won’t be a simple repeat of last year.
Multi-generational living is defined as adults from multiple generations living in the same home. This form of living is on the rise in the U.S. after declining for years and a record 60.6 million Americans live in multigenerational households according to data from Pew Research Center. Reasons include growing racial and ethnic diversity in the U.S., more young adults living at home, economic necessity and a larger percentage of the US population over age 65. Whatever the reason that may be causing you to consider multigenerational living with some planning, you can make this living arrangement work for everyone.
You’ve spent weeks, even months searching for your dream home. You’ve viewed countless listings with your realtor and attended several open houses on your own. Finally, your hard work has paid off. You’ve found the home of your dreams and it falls with your budget; however, reality now sinks in. You’re going need to sell your current home in order to make the down payment on the new one and the fear that your dream home will be sold to someone else while this happens becomes real.
Congratulations, you have found your dream home! You and your realtor have worked out all the details with the seller and have finally agreed to the purchase price. Now what?
One of the biggest joys of owning a home is that your mortgage payment allows you to build equity in it. Home equity is the difference between your home’s value and what you owe. Some homeowners enjoy building equity so much; they want to know ways they can build it faster. Here we explore ways you can do that.