Tag: homepurchase

INVESTMENT PROPERTIES: HOW YOU CAN MAKE MONEY IN THE SHORT AND LONG TERM

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You’re probably well aware that there’s more to real estate than just owning your home. There are countless success stories of people who made a fortune—or even just a comfortable extra income—by investing in real estate. Here’s an overview to get you thinking about an investment property.

Improving a home
Quickly flipping a home is one way to make money off a real estate investment, but it can be risky. A safer play is to buy a fixer upper and carefully manage costs over a year or so as you improve the property. You’re likely to get a great return.

Rental properties
Instead of selling your investment property, you can rent it and make a good monthly profit if the rent exceeds your costs. Renting to a stable, reliable tenant can put extra money in your pocket every month for years on end. You can even hire a property manager to handle repairs, rent collection, and other administrative tasks. And if you’re ever ready to stop dealing with tenants, you can sell the home and profit on the improvements and appreciation of your asset.

Multi-family rental properties
Renting out a single family home is a good starting place for investment properties, but you can get an even better return once you learn the ropes and move on to multi-family homes. Buying an apartment building or dividing a larger home into several apartment units comes with some added complications with taxes and regulations, but it also comes with huge income potential.

Send me a message with any questions you may have, I’m just a quick click or call away to helping you find your next OR first investment opportunity. Text or call 704.951.4017 or fill out the contact form below.

A LITTLE EXTRA PREPARATION AND INGENUITY GOES A LONG WAY TOWARD A BETTER PAINT JOB

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Painting is one of the most inexpensive ways to give your home a makeover. Whether it’s updating an old bathroom paint scheme or adding a bold accent wall, painting can totally transform a room. But painting can be a big hassle and come with tons of prep work and clean up. Here are a few of Breakthrough Broker’s top tips to make your painting experience more enjoyable and lead to a more professional finish.

Prep beyond tape and drop cloths
A drop cloth will protect your floors, but a thick and durable drop cloth is also a little clumsy to maneuver. For smaller, awkward items that are in danger of paint splatter, use plastic wrap. It’ll make it much less frustrating to protect a toilet or bathroom sink.

Be ready for spills and splatters
At the very least, a few drops of paint are going to end up where you don’t want them. Have a rag and some Q-Tips ready for the inevitable paint splatter, so that you can quickly wipe them off before they dry and set on your frames, countertops, or hardwood floor.

Use heat to remove tape Patience is key when removing painter’s tape, but it can still tear and leave splotchy edges no matter how careful you are. Hold a heat gun or hair dryer a few inches away from the tape as your remove it little by little. The heat will break down the adhesive and make removing the tape a much less frustrating task.

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After Thanksgiving Dinner...this girl of ours decided to workout, even created her own "GoNoodle" video for it. She had to wear the beanie for the video, because style is first and foremost. 🥰 Most Thankful for this family of mine. Always growing, improving, and pushing through hard times. This is all I need. 🍁Ready to FALL even more in love with Lake Norman NC?! I’ve partnered with HIIT it Fit, @mattpmortgage at Element Funding, and Bolton Roofing to giveaway.... https://www.instagram.com/p/CVwaIaLMr5i/ Spent a lot of time in Asheville this week...ya know, working on that surprise I mentioned earlier... Family Throwback...find HUGE joy in small moments. Sometimes things don't go as planned, heck, sometimes the whole day may seem like a loss...and each other. As I was touring new neighborhoods in Denver, I had to stop and admire this beautiful sunset. 🍂🍂 Each year we should all take the time to let go of what's no longer serving us so that come spring we can grow bigger and stronger! 🍂🍂 These girls making their first purchase with their own debit card with money they've earned. It was a tough decision to decide if what she wanted was worth it or better to save up for something she wanted more. I'm curious how she'll feel about it in a few weeks...maybe they'll decide that item really wasn't really worth the spend and in return make smarter buying decisions later....how do you teach your kiddos good money habits?

CREATE A MORE ENERGY-EFFICIENT HOME WITHOUT BREAKING THE BANK

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Many homeowners would love to invest in making their property more energy-efficient. Going green can save you a lot of money over time and is great for the environment, but the up-front costs can be significant. Fortunately, there are some energy-efficient changes you can make to your home without draining too much of your bank account.

Seal air leaks: As much as 20 percent of the energy used to regulate temperature in a home can be lost to air leaks. You can seal doors and windows with weather stripping and the project will usually cost less than $200. If you’re in search of a professional quote, let me know. I’ve got a book of professionals on standby and ready to help! Contact me here or simply call/text 704-951-4017.

Smart thermostats: Older thermostats are usually inefficient because they only have a few settings. A smart thermostat like Nest can be programmed to reduce heating/cooling when you’re not at home or during the hours when you’re asleep. The energy savings you will see usually equal the cost of the thermostat after a year or two.

Change your light bulbs: LED light bulbs are expensive, but require just a small percentage of the energy incandescent bulbs require. A cheap incandescent bulb uses about $15 of electricity a year (if it lasts that long). An LED bulb costs $25, but uses less than $5 worth of electricity per year and will last up to 11 years.

Let’s Get Social!

After Thanksgiving Dinner...this girl of ours decided to workout, even created her own "GoNoodle" video for it. She had to wear the beanie for the video, because style is first and foremost. 🥰 Most Thankful for this family of mine. Always growing, improving, and pushing through hard times. This is all I need. 🍁Ready to FALL even more in love with Lake Norman NC?! I’ve partnered with HIIT it Fit, @mattpmortgage at Element Funding, and Bolton Roofing to giveaway.... https://www.instagram.com/p/CVwaIaLMr5i/ Spent a lot of time in Asheville this week...ya know, working on that surprise I mentioned earlier... Family Throwback...find HUGE joy in small moments. Sometimes things don't go as planned, heck, sometimes the whole day may seem like a loss...and each other. As I was touring new neighborhoods in Denver, I had to stop and admire this beautiful sunset. 🍂🍂 Each year we should all take the time to let go of what's no longer serving us so that come spring we can grow bigger and stronger! 🍂🍂 These girls making their first purchase with their own debit card with money they've earned. It was a tough decision to decide if what she wanted was worth it or better to save up for something she wanted more. I'm curious how she'll feel about it in a few weeks...maybe they'll decide that item really wasn't really worth the spend and in return make smarter buying decisions later....how do you teach your kiddos good money habits?

TIPS FOR HIRING A MOVING COMPANY

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The process of moving can seem daunting, but with a little help from a reliable moving company, a lot of stress can be relieved. Here are some tips to make sure your belongings are in safe hands.

Get references from friends and family. You should always do you research thoroughly, reading review sites and local articles and blogs, however, nothing is stronger than a good recommendation from a trusted friend, family member, or neighbor.

Require them to take inventory and do a walkthrough. A strong, reputable moving company will take steps to evaluate the job ahead of time, including taking inventory of your belonging that need to be moved and doing a walkthrough to note stairways, doorways, etc.

Understand the contract you’re signing. A contract with your moving company should include the following: description and scope of services, pricing (fixed rate vs. hourly rate), date(s) of pickup, date(s) of delivery, liability and claims protection, and any additional charges.

Double check the company’s insurance and amount of protection. There are several levels of liability moving companies offer, but the most common are full value protection on items, requiring them to either repair, replace, or provide cash value for items that are lost or damaged in the move, and alternative liability coverage that requires them to be liable for up to 60 cents per pound of the item in question.

Unpack in a timely matter and report problems. Depending on your contract, you have a limited time to report any issues to the company and file a claim, so make sure to unpack and evaluate your belongings before that deadline passes.

Reach out to me for recommendations on movers or other home professionals. View my calendar below to schedule at a time that works for you. Or simply give me a call/text at 704-951-4017.

Let’s Get Social

After Thanksgiving Dinner...this girl of ours decided to workout, even created her own "GoNoodle" video for it. She had to wear the beanie for the video, because style is first and foremost. 🥰 Most Thankful for this family of mine. Always growing, improving, and pushing through hard times. This is all I need. 🍁Ready to FALL even more in love with Lake Norman NC?! I’ve partnered with HIIT it Fit, @mattpmortgage at Element Funding, and Bolton Roofing to giveaway.... https://www.instagram.com/p/CVwaIaLMr5i/ Spent a lot of time in Asheville this week...ya know, working on that surprise I mentioned earlier... Family Throwback...find HUGE joy in small moments. Sometimes things don't go as planned, heck, sometimes the whole day may seem like a loss...and each other. As I was touring new neighborhoods in Denver, I had to stop and admire this beautiful sunset. 🍂🍂 Each year we should all take the time to let go of what's no longer serving us so that come spring we can grow bigger and stronger! 🍂🍂 These girls making their first purchase with their own debit card with money they've earned. It was a tough decision to decide if what she wanted was worth it or better to save up for something she wanted more. I'm curious how she'll feel about it in a few weeks...maybe they'll decide that item really wasn't really worth the spend and in return make smarter buying decisions later....how do you teach your kiddos good money habits?

WHICH FEATURES ARE YOUNG BUYERS LOOKING FOR IN A HOME?

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Millennials are the second-largest segment of home buyers, ranking behind only baby boomers, according to the National Association of Realtors. Here are five features that tend to entice millennials who are looking to buy.

Updated Kitchen

An up-to-date kitchen and bath
Younger buyers often have limited funds for renovations, so it’s important that they have functional and inviting bathroom and kitchen spaces from the very start.

An open floor plan
Having a formal dining room isn’t of particular importance to millennials, in fact, many prefer open spaces with no separation between kitchen, living room, and dining room. An open concept makes it easier to entertain everyone at once.

An office
More and more jobs are offering work-from-home options, and there are also plenty of freelancers and telecommuters among millennials. A dedicated space for getting some work done can be a key attraction.

Friendly location
With gas prices rising, many millennials prefer walking, biking, or public transit for their commutes. A great location is key.

Energy savings
Millennials are often more conscious of energy conservation and efficiency. Energy-efficient appliances, energy-efficient windows, and quality insulation can make a huge difference.

Contact me here

Let’s Get Social!

After Thanksgiving Dinner...this girl of ours decided to workout, even created her own "GoNoodle" video for it. She had to wear the beanie for the video, because style is first and foremost. 🥰 Most Thankful for this family of mine. Always growing, improving, and pushing through hard times. This is all I need. 🍁Ready to FALL even more in love with Lake Norman NC?! I’ve partnered with HIIT it Fit, @mattpmortgage at Element Funding, and Bolton Roofing to giveaway.... https://www.instagram.com/p/CVwaIaLMr5i/ Spent a lot of time in Asheville this week...ya know, working on that surprise I mentioned earlier... Family Throwback...find HUGE joy in small moments. Sometimes things don't go as planned, heck, sometimes the whole day may seem like a loss...and each other. As I was touring new neighborhoods in Denver, I had to stop and admire this beautiful sunset. 🍂🍂 Each year we should all take the time to let go of what's no longer serving us so that come spring we can grow bigger and stronger! 🍂🍂 These girls making their first purchase with their own debit card with money they've earned. It was a tough decision to decide if what she wanted was worth it or better to save up for something she wanted more. I'm curious how she'll feel about it in a few weeks...maybe they'll decide that item really wasn't really worth the spend and in return make smarter buying decisions later....how do you teach your kiddos good money habits?

FIVE NEGOTIATING TACTICS THAT CAN KILL A SALE

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Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:

 1. Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.

 2. Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.

 3. “Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.

 4. Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.

 5. Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.

For more advice and tips, feel free to reach out at anytime! It’s my goal to go above and beyond for my clients! My advice is always free. Reach out to me here.

Let’s Get Social

After Thanksgiving Dinner...this girl of ours decided to workout, even created her own "GoNoodle" video for it. She had to wear the beanie for the video, because style is first and foremost. 🥰 Most Thankful for this family of mine. Always growing, improving, and pushing through hard times. This is all I need. 🍁Ready to FALL even more in love with Lake Norman NC?! I’ve partnered with HIIT it Fit, @mattpmortgage at Element Funding, and Bolton Roofing to giveaway.... https://www.instagram.com/p/CVwaIaLMr5i/ Spent a lot of time in Asheville this week...ya know, working on that surprise I mentioned earlier... Family Throwback...find HUGE joy in small moments. Sometimes things don't go as planned, heck, sometimes the whole day may seem like a loss...and each other. As I was touring new neighborhoods in Denver, I had to stop and admire this beautiful sunset. 🍂🍂 Each year we should all take the time to let go of what's no longer serving us so that come spring we can grow bigger and stronger! 🍂🍂 These girls making their first purchase with their own debit card with money they've earned. It was a tough decision to decide if what she wanted was worth it or better to save up for something she wanted more. I'm curious how she'll feel about it in a few weeks...maybe they'll decide that item really wasn't really worth the spend and in return make smarter buying decisions later....how do you teach your kiddos good money habits?

PRIORITY TASKS FOR YOUR MOVE IN

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Moving into a new home is an exciting time, and you’re probably daydreaming about decor and paint schemes and new furniture. But before you get into the fun stuff, there are some basics you should cover first.

Change the locks

Even if you’re promised that new locks have been installed in your home, you can never be too careful. It’s worth the money to have the peace of mind that comes with knowing that no one else has the keys to your home. Changing the locks can be a DIY project, or you can call in a locksmith for a little extra money.

Steam clean the carpets

It’s good to get a fresh start with your floors before you start decorating. The previous owners may have had pets, young children, or just some plain old clumsiness. Take the time to steam clean the carpets so that your floors are free of stains and allergens. It’s pretty easy and affordable to rent a steam cleaner—your local grocery store may have them available.

Call an exterminator

Prior to move-in, you probably haven’t spent enough time in the house to get a view of any pests that may be lurking. Call an exterminator to take care of any mice, insects, and other critters that may be hiding in your home.

Clean out the kitchen

If the previous occupants wanted to skip on some of their cleaning duties when they moved out, the kitchen is where they probably cut corners. Wipe down the inside of cabinets, clean out the refrigerator, clean the oven, and clean in the nooks and crannies underneath the appliances.

Do You Have Enough Money Saved for a Down Payment?

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One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down.

A recent survey by Point2Homes mentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, “88% say they have significantly less savings than the average national down payment amount, which is $62,600.”

Thankfully, $62,600 is not the amount every buyer needs for a down payment in the United States. There are many different options available, especially for first-time homebuyers (millennial or not). That amount can also be significantly less, depending on the purchase price of the house.

According to the National Association of Realtors (NAR), “The median existing-home price for all housing types in August was $310,600.” (These are the latest numbers available). NAR also indicates that:

“In 2019, the median down payment was 12 percent for all buyers, six percent for first-time buyers, and 16 percent for repeat buyers.” (See graph below):

Do You Have Enough Money Saved for a Down Payment? | MyKCM

That means if a qualified first-time buyer purchases a home at today’s median price, $310,600, with a 6% down payment, in reality, the down payment only amounts to $18,636. That’s nowhere near $62,600.

Knowing there are also programs like FHA where the down payment can be as low as 3.5% of the purchase price for a first-time buyer, that up-front cost could be significantly less – as little as $10,871 for the same home noted above. There are also other programs like USDA and loans for Veterans that waive down payment requirements.

Do You Have Enough Money Saved for a Down Payment? | MyKCM

The Point2Homes study also shares how much millennials have indicated they’ve saved for a down payment. As we can see in the graph below, 39% have already saved enough for a down payment on a median-priced home. Another 47% are close to reaching that goal, depending on the purchase price of the home.Unfortunately, the lack of knowledge about the homebuying process is keeping many motivated first-time buyers on the sidelines. That’s why it’s important to contact a local real estate professional to understand the requirements in your local area if you want to buy a home. A trusted agent and your lender can guide you through the process.

Bottom Line

Be careful not to let big myths about homebuying keep you and your family out of the housing market. Let’s connect to discuss your options today.

Is it Time to Move into a Single-Story Home?

Once the kids have left the nest, you may be wondering what to do with all of the extra space in your home. Chances are, you don’t need four bedrooms anymore, and it may be a great time to sell your house and downsize, maybe even into a single-story home. You’ve likely gained significant equity if you’ve lived in your home for a while, so making a move while demand for your current house is high could be your best step forward toward the retirement goals you set out to achieve several years ago.

The dilemma, though, is where to go next. A big concern for many homeowners who are ready to sell is finding a home to move into, given today’s lack of houses available for sale. There is, however, some good news: the number of single-family 1-story homes being built today is on the rise, improving your odds of finding the right home for your changing needs. In a recent article, The National Association of Home Builders (NAHB) explains:

“Nationwide, the share of new homes with two or more stories fell from 53% in 2018 to 52% in 2019, while the share of new homes with one story grew from 47% to 48%.”

Is it Time to Move into a Single-Story Home? | MyKCM

Here’s a map showing the breakdown of newly constructed homes being built by region, and the percentage of 1-story and 2-story homes in that mix:

What are the benefits of buying a one-story home?

Still not sure about buying a single-story home? An article from Home Talk covers several advantages of switching from two floors to one:

1. Energy Efficient

“It is easier to heat and cool a single-story house [than] it would be to regulate the temperatures of a multi-story house.”

Most single-story homes only need one heating or cooling unit, and they typically stay cooler than a two-story home, both of which can lead to significant savings.

2. Easier to Maintain

“Doing a general cleaning in a single story requires less effort and you will be able to see all areas that need cleaning and the areas are easily accessible.”

Cleaning and maintenance of a single-story home can take less time and effort, and better upkeep helps improve the overall value of the home.

3. Accessible for Everyone

“A single-story house can be accessed by anyone, whether they are young children or the senior citizens.”

If you’re looking for a house that provides a safe and easily accessible environment at any age, a single-story home may be optimal.

4. Good Resell Potential

“When buying a single-story house, you should consider the resale value should you think of reselling it in case of a circumstance that can happen. Look at the growth rate of that area. Due to the high demand of these types of houses it is [easy] to resell them and depending on the growth rate of an area, it increases in value significantly.”

Single-story homes have a lot of benefits and are often in higher demand. This bodes well for future resale opportunities.

Bottom Line

There are many benefits to downsizing into a one-story home. Doing so while demand for your current house is high might make it easier than ever to make a move. Let’s connect if you’re ready to purchase the single-story home you need while homes are so affordable today.

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Home Equity Gives Sellers Options in Today’s Market

Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates. Across the country, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market.

According to the just-released Q2 Homeowner Equity Insights Report by CoreLogic:

“U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $620 billion since the second quarter of 2019, an increase of 6.6%, year over year.”

Dr. Frank Nothaft, Chief Economist for CoreLogic, attributes much of the equity growth to rising home prices:

“The CoreLogic Home Price Index registered a 4.3% annual rise in prices through June, which supported an increase in home equity.”

As the map below shows, CoreLogic also indicates that home equity is increasing in every state:

“In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity during the past year.”

Home Equity Give Sellers Options in Today’s Market | MyKCM

What Does This Mean for Sellers?

When equity is rising, as it is today, you may have more invested in your home than you realize. Mark Fleming, Chief Economist at First American, notes:

“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home – the wealth effect of rising equity. In today’s housing market, fast rising demand against the limited supply of homes for sale has resulted in continued house price appreciation.”

If you’ve been considering making a move – whether that’s to get into a bigger home or to downsize to a smaller one – it’s a great time to reach out to a real estate professional to learn how to put your equity to work for you. You may be in a position to pay that equity forward toward your next home purchase and afford it sooner rather than later.

Bottom Line

If you’re thinking of selling, let’s connect so you can take advantage of what the current market has to offer today.