Monday, August 29, 2022

A Trusted Real Estate Advisor Provides Expert Advice

A Trusted Real Estate Advisor Provides Expert Advice | Simplifying The Market

If you’re a homeowner or are planning to become one soon, you’re probably looking for clear information about today’s housing market. And if you’ve turned to the news or even just read headlines recently, you might feel like you’re left with more questions than answers. The best way to make sure you get what you need is to work with an expert.

Why You Want To Lean on a Trusted Professional

With any big milestone in life, it’s wise to seek advice from people who are experts in their field.  While you likely want that advice to be perfect, perfect simply isn’t possible. But professionals have the knowledge and experience to be able to provide you with the best advice for your situation.

For example, let’s say you need an attorney, so you seek out an expert in the type of law required for your case. They won’t immediately tell you how the case is going to end or how the judge or jury will rule. But what a good attorney can do is discuss the most effective strategies based on their experience and help you put a plan together. They’ll even use their knowledge to work with you to adjust as new information becomes available.

Similarly, the job of a trusted real estate professional is to give you the best advice they can. Just like you can’t find a lawyer to give you perfect advice, you won’t find a real estate professional who can either. That’s because it’s impossible to know exactly what’s going to happen throughout your transaction. But an expert real estate advisor knows market trends and the ins and outs of the homebuying and selling processes.

They’ll use that knowledge to explain both the national headlines and what’s happening in your local area. That way, you have the best of both worlds and can feel confident in your decision to buy or sell. Freddie Mac explains why having an expert on your side is so essential:

“The success of your homebuying journey largely depends on the company you keep. . . . Be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.”

With their expertise, a real estate advisor can anticipate what could happen next and work with you to put together a solid plan. Then, they’ll guide you through the process, helping you make decisions along the way. That’s the very definition of getting the best – not perfect – advice. And that’s the power of working with a real estate advisor.

Bottom Line

To get expert advice when you buy or sell a home this year, let’s connect today.

Content previously posted on Keeping Current Matters

* This article was originally published here

Sunday, August 28, 2022

15 Treehouse Airbnbs for Those Who Want to Sleep Among the Stars

15 Treehouse Airbnbs for Those Who Want to Sleep Among the Stars
Airbnb may be better known for the bevy of city apartments, cabins, and suburban homes on offer, but the rental platform is also chockfull of oddball listings—we're talking castles, caves, and the like. Among those non-traditional listings? A whole slew of treehouses, perfect for going off the grid …

* View the article originally published here. ** More curations: Al Cannistra at San Antonio ONE here.

Cabins designed to meet your 2022 vacations goals

Cabins designed to meet your 2022 vacations goals
Cabins have been a relaxing and quintessential getaway option for everyone for ages galore. They’re the ultimate safe haven in the midst of nature, …

* View the article originally published here. ** More curations: Al Cannistra at San Antonio ONE here.

Saturday, August 27, 2022

This Limited Edition Designer Tiny House Has All the Bells and Whistles

This Limited Edition Designer Tiny House Has All the Bells and Whistles
It's available for sale, but it's pricey. Tiny houses come in all kinds of (small) sizes and shapes: they can be extra-tiny, extra-long, or …

* View the article originally published here. ** More curations: Al Cannistra at San Antonio ONE here.

This Container Cabin made from stacked containers is nestled in a former paddy field

This Container Cabin made from stacked containers is nestled in a former paddy field
Thailand is known for breathtaking palaces, enormous malls, glimmering beaches, and sumptuous cuisine. The tropical country also has friendly locals …

* View the article originally published here. ** More curations: Al Cannistra at San Antonio ONE here.

Home Improvements that Increase the Value of Your Property

 Our guest author today is Ethan Griffin...

 

A beautiful house at night














Everyone enjoys participating in a renovation project from time to time. If you are thinking about what your next one could be, make sure not to make the decision too hastily. It is now more critical than ever to know which upgrades will and will not increase the value of your property. After spending so much time in them, our homes have become the center of massive changes and re-evaluation. For example, home offices and outdoor spaces have become highly wanted features. Whichever home improvement you go for, you should consider hiring an agent. This is done to ensure that the agent values your home correctly.


Having More Usable Square Footage Can Increase the Value of Your Property

Increasing the amount of usable space in an existing home makes financial sense. This is especially true in areas where most available properties have finite land and space. An example of this type of area is a city with many townhouses instead of large lots with acreage.

The value and price of all homes largely depend on the livable square feet they contain. This means that the more livable square feet there are, the better. Adding a bathroom, a lounge, or any other needed space to a home can greatly increase its function and add value.

However, your only option isn't just building an addition. Adding some walls can also convert part of an oversized kitchen into a small pantry. If you do want to build an addition, however, the national average cost to build an addition is somewhere around fifty thousand USD. Of course, the actual cost varies greatly depending on the type of room you would like to add. For example, building a small laundry room can cost you as little as around eight thousand USD. But, building an entire master suite with a bathroom can go up to a hundred thousand USD.


Upgrade Your Curb Appeal

Even simple things such as power washing your driveway or hiring someone to wash your windows and mow the lawn can significantly impact your home's curb appeal. Improving your home's curb appeal can greatly increase the value of your property. After all, it is the first thing your future buyer will see about your home.

A house with a minimal, but effective curb appeal
As long as you dont go overboard, working on your home's curb appeal can greatly increase the value of your property.










Hiring a good landscaper can be of great help. However, even if you don't have that kind of money, you can work on it yourself. Adding plants or repainting your home's outside walls are just some great ideas. You could also refresh your walkway or mulch the lawn. It's important to know where to stop though. Too many features can put buyers off since it can look like a hassle for upkeep.


Replace the old front door

Another great idea for improving curb appeal is refreshing old front doors. A fundamental steel front door costs about a hundred bucks. However, if you add another one to two hundred to that, you can get a door with so much more character which is sure to improve your home's curb appeal. If you are not in a financial place where you can afford a brand new door, adding a fresh coat of paint or lacquer may be all you need.


Improve Outdoor Living With a Deck or Patio

If the pandemic has taught us anything, having a nice usable outdoor living area is very important. When it comes down to it, a deck or patio is the most popular choice for making such an area for yourself. Depending on the way it is made, it can be a place to dine with family, have a beverage after a hard day at work, entertain friends, or work outdoors for a few hours. 

On average, having a deck in your backyard adds over seven thousand dollars in resale value. Building a deck will usually cost between five and ten thousand dollars, depending on the size and any additional features you might want. So, you can almost be sure that you'll at least break even if you do not see a positive ROI on this project.


Refresh the Look of Your Kitchen

Most of your future buyers will focus on the kitchen as the central feature of your property. This means that if yours is outdated or looks subpar, it will negatively affect the property's resale value in the future. Another essential thing to consider is whether you have maximized the utility of the space in your kitchen. Not being able to use your kitchen fully because of poor layout can be a big problem for your home's value.

A nice homey yet modern kitchen
Find a good balance when redesigning your kitchen. It shouldnt look flashy.


















A clever idea would be to hire a home inspector to do a check-up on the fixtures in your kitchen. Inspectors can suggest which areas of your kitchen need renovating. This way, you can avoid working and spending money on things you don't need. In case you feel like updating your entire kitchen is too big of an undertaking for you at the moment, a minor remodel could still help your home's value. Things like new faucets, drawer knobs, and cabinet fronts in a matching style will give the kitchen a modern, cohesive look. 

Work on Your Flooring

The ROI of updated flooring depends on your property's current condition and value. We can separate the value of upgraded flooring into three scenarios. First, if you have a low-end property, having lovely hardwood floors or good carpeting will only add value for house flippers, since it is less work for them. Therefore, renovating floors could help raise the value of your property, but it is a pretty big gamble. 

However, having updated and beautiful floors could be why potential buyers choose your home over someone else's property if your home is mid-range. So, replacing worn-out flooring is an excellent idea in this case. Finally, if you have a costly, high-end property, replacing the floors will only be a waste of money for you. Most buyers ready to invest so much into a new home are also prepared to replace the flooring themselves.

If you decide on this home improvement, we have two main tips: 


1. Since replacing floors requires removing everything from your home, including bulky furniture, it can be hard to find a place for all of it. Renting storage is a great solution for dealing with bulky items during renovation. You can move your stuff there for a while and put everything back when you're done.
2. Lately, many more buyers prefer the look of luxury vinyl planks in gray or espresso to hardwood or carpeting. Thankfully, this is excellent news for you since they are much cheaper to buy and install

Install Small Features

There are plenty of small features and appliances which are cheap and easy to install that most buyers will appreciate. The most popular ones lately have been:

Energy-efficient appliances, 
Programmable thermostats, 
Security cameras, 
Video doorbells, 
Wireless home security systems, 
Wireless smart home appliances, 
Smart lightbulbs, 
Smart home assistant speakers.


A home security camera
From cameras to smart locks, people will value any form of added security.


















Many of these can be DIY-ed, or you can install them yourself. However, if it seems too big of a job or you might fail to do it yourself, make sure to call a professional who can help you.

Conclusion

While considering which updates are worth making for your home, your best bet is to think whether doing so will make your buyer see your place as somewhere they want to live. That is the best way to gauge which home improvements will increase the value of your property.


Author’s Bio

Ethan Griffin is a freelance writer at Heavenly Moving and Storage. He enjoys spending time with his friends and reading poetry. He volunteers at a dog shelter and enjoys custom blend teas.







Friday, August 26, 2022

A startup is using recycled plastic to 3D print prefab tiny homes with prices starting at $25,000 — see inside

A startup is using recycled plastic to 3D print prefab tiny homes with prices starting at $25,000 — see inside
Why "reduce, reuse, recycle" when you can just turn your plastic waste into homes? This may sound like a far-fetched idea, but that's exactly what one 3D printing home construction startup in Los Angeles is trying to do. In April, Azure unveiled what it called the world's first 3D printed "backyard …

* View the article originally published here. ** More curations: Al Cannistra at San Antonio ONE here.

Off-grid container-based home is tiny in size and cost

Off-grid container-based home is tiny in size and cost
Pin-Up Houses, the Czech firm behind the rather colorful DIY US$10,000 tiny house, recently completed a new model that's based on a shipping …

* View the article originally published here. ** More curations: Al Cannistra at San Antonio ONE here.

Monday, August 22, 2022

3 Tips for Buying a Home Today

3 Tips for Buying a Home Today | Simplifying The Market

If you put off your home search at any point over the past two years, you may want to consider picking it back up based on today’s housing market conditions. Recent data shows the supply of homes for sale is increasing, giving buyers like you additional options.

But it’s important to keep in mind that while inventory is improving, it’s still a sellers’ market. And that means you need to be prepared as you set out on your home search. Here are three tips for buying the home of your dreams today.

1. Understand How Mortgage Rates Impact Your Homebuying Power

Mortgage rates have increased significantly this year, and over the past few weeks, they’ve been fluctuating quite a bit. It’s important to stay up to date on what’s happening with rates and understand how they can impact your purchasing power when you’re thinking of buying a home. The chart below can help.

Let’s say your budget allows for a monthly mortgage payment in the $2,100-$2,200 range. The green in the chart indicates a payment within or below that range, while the red is a payment that exceeds it.

3 Tips for Buying a Home Today | Simplifying The Market

As the chart shows, even a small change in mortgage rates can have a big impact on your monthly payments. If rates rise, you could exceed your budget unless you pursue a lower home loan amount. If rates fall, your purchasing power may increase, which could give you additional options for your search.

2. Be Open to Exploring Different Options During Your Search

The supply of homes for sale is improving, which gives you more homes to choose from. But historically, supply is still low. That means as you search for homes, if you still don’t find something that meets your needs, it may be worth expanding your search.

A recent article from the Washington Post highlights a few things buyers can consider today. It encourages opening yourself up to more areas. For example, if there’s a location you’ve previously ruled out (like a particular town, for example) it may be worth taking another look.

And if you’re able to, opening your search up to include other housing types, like newly built homes, condominiums, or townhomes can further increase your pool of options. Even as the inventory of homes for sale improves today, finding ways to cast a wider net during your search could help you find a hidden gem.

3. Work with a Local Real Estate Professional for Expert Guidance

Ultimately, you need to be prepared when you set out to buy a home. Jeff Ostrowski, Senior Mortgage Reporter for Bankrate, explains:

“Taking the leap to homeownership can provide a feeling of pride while boosting your long-term financial outlook, if you go in well-prepared and with your eyes open.”

No matter where you’re at in your homeownership journey, the best way to make sure you’re set up for success is to work with a real estate professional. If you’re just starting your search, a real estate professional can help you understand your local market and search for available homes. And when it’s time to make an offer, they’ll be an expert advisor and negotiator to help yours stand out above the rest.

Bottom Line

Strategically planning your home search by understanding today’s mortgage rates, casting a wide net, and building a team of experts can be the keys to finding the home of your dreams. To make sure you have expert advice each step of the way, let’s connect.

Content previously posted on Keeping Current Matters

* This article was originally published here

Friday, August 19, 2022

Why a Home Inspection Is Important [INFOGRAPHIC]

Why a Home Inspection Is Important [INFOGRAPHIC] | Simplifying The Market

Why a Home Inspection Is Important [INFOGRAPHIC] | Simplifying The Market

Some Highlights

  • If you’re buying a home, here’s what you should know about your home inspection and why it’s so important.
  • A home inspection is a crucial step in the homebuying process. It assesses the condition of the home you plan to purchase so you can avoid costly surprises down the road.
  • Let’s connect so you have an expert on your side to guide you through the process.
Content previously posted on Keeping Current Matters

* This article was originally published here

Planning To Retire? Your Equity Can Help You Reach Your Goal.

Planning To Retire? Your Equity Can Help You Reach Your Goal | Simplifying The Market

Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement Industry Trust Association (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation have already retired.

If this sounds like you, one thing worth considering is whether or not your current home will suit your new lifestyle. If your home doesn’t have the features or benefits you’re looking for, the good news is, you may be in a better position to move than you realize.

That’s because, if you already own a home, you’ve likely built-up significant equity, and that can help you fuel your next move. According to the National Association of Realtors (NAR):

“A homeowner who purchased a typical home five years ago would have gained $125,300 from just price appreciation alone.”

In fact, over the last twelve months, CoreLogic reports the average homeowner in the United States gained roughly $64,000 in equity due to home price appreciation.

You can use your equity to help you achieve your homeownership goals. Whether you want to downsize, move closer to loved ones, or buy a home in a dream destination, your equity can help get you there. It may be some (if not all) of what you’d need as your down payment on a home that better fits your changing needs.

To find out how much equity to have in your home, reach out to a trusted real estate professional today.  

Bottom Line

Retirement is a big step and so is buying or selling a home. As you move into this new phase of life, let’s connect so you have an expert to guide you through the process as you sell your current home and give you expert advice as you buy one that’ll better suit your needs.

Content previously posted on Keeping Current Matters

* This article was originally published here

Monday, August 15, 2022

The U.S. Homeownership Rate Is Growing

The U.S. Homeownership Rate Is Growing | Simplifying The Market

The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase, the graph below shows the homeownership rate over the last year:

The U.S. Homeownership Rate Is Growing | Simplifying The Market

That data shows more than half of the U.S. population live in a home they own, and the percentage is growing with time.

If you’re thinking about buying a home this year, here are just a few reasons why so many people see the value of homeownership.

Why Are More People Becoming Homeowners?

There are several benefits to owning your home. A significant one, especially when inflation is high like it is today, is that homeownership can help protect you from rising costs. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“In the 1970s, when inflation was running around 10%, home prices were rising at approximately the same rate. Renters actually have a harder time in inflationary periods, because rents tend to rise along with inflation, whereas mortgage payments stay the same for homeowners with fixed-rate mortgages.”

When you buy a home with a fixed-rate mortgage, you can lock in what’s likely your biggest monthly expense – your housing payment – for the duration of that loan, often 15-30 years.

That gives you a predictable monthly housing expense that can benefit you in the short term, but you’ll also gain equity over time as your home appreciates in value and you make your monthly mortgage payment.

And with that growing equity, your net worth will increase as well. In fact, the latest data from NAR shows the median household net worth of a homeowner is roughly $300,000, while the median net worth of renters is only about $8,000. That means a homeowner’s net worth is nearly 40 times that of a renter.

The U.S. Homeownership Rate Is Growing | Simplifying The Market

Bottom Line

The U.S. homeownership rate is growing. If you’re ready to purchase the home of your dreams, let’s connect so you can begin the homebuying process today.

Content previously posted on Keeping Current Matters

* This article was originally published here

Friday, August 12, 2022

haus.me | Autonomous Self-Sustainable Intelligent House

haus.me | Autonomous Self-Sustainable Intelligent House
Vacation Homes for Perfectionists. Self-Sustainable Home delivered ready to go.

* View the article originally published here. ** More curations: Al Cannistra at San Antonio ONE here.

Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC]

Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC] | Simplifying The Market

Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC] | Simplifying The Market

Some Highlights

Content previously posted on Keeping Current Matters

* This article was originally published here

What Does the Rest of the Year Hold for Home Prices?

What Does the Rest of the Year Hold for Home Prices? | Simplifying The Market

Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? Let’s break down what’s happening with home prices, where experts say they’re headed, and why this matters for your homeownership goals.

Last Year’s Rapid Home Price Growth Wasn’t the Norm

In 2021, home prices appreciated quickly. One reason why is that record-low mortgage rates motivated more buyers to enter the market. As a result, there were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices up. CoreLogic helps explain how unusual last year’s appreciation was:

Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”

In other words, the pace of appreciation in 2021 far surpassed the 6% the market saw in 2020. And even that appreciation was greater than the pre-pandemic norm which was typically around 3.8%. This goes to show, 2021 was an anomaly in the housing market spurred by more buyers than homes for sale.

Home Price Appreciation Moderates Today

This year, home price appreciation is slowing (or decelerating) from the feverish pace the market saw over the past two years. According to the latest forecasts, experts say on average, nationwide, prices will still appreciate by roughly 10% in 2022 (see graph below):

What Does the Rest of the Year Hold for Home Prices? | Simplifying The Market

Why do all of these experts agree prices will continue to rise? It’s simple. Even though housing supply is growing today, it’s still low overall thanks to several factors, including a long period of underbuilding homes. And experts say that’s going to help keep upward pressure on home prices this year. Additionally, since mortgage rates are higher this year than they were last year, buyer demand has slowed.

As the market undergoes this change, it’s true price appreciation this year won’t match the feverish pace in 2021. But the rapid appreciation the market saw last year wasn’t sustainable anyway.

What Does That Mean for You?

Today, the market is beginning to move back toward pre-pandemic levels. But even the forecast for 10% home price growth in 2022 is well beyond the 3.8% that’s more typical for a normal market.

So, despite what you may have heard, experts say home prices won’t fall in most markets. They’ll just appreciate more moderately.

If you’re worried the house you’re trying to sell or the home you want to buy will decrease in value, you should know experts aren’t calling for depreciation in most markets, just deceleration. That means your home should still grow in value, just not as fast as it did last year.

Bottom Line

If you’re thinking of making a move, you shouldn’t wait for prices to fall. Experts say nationally, prices will continue to appreciate this year, just at a more moderate pace. When you’re ready to begin the process of buying or selling, let’s connect so you have a local market expert on your side each step of the way.

Content previously posted on Keeping Current Matters

* This article was originally published here

Monday, August 8, 2022

Why the Forbearance Program Changed the Housing Market

Why the Forbearance Program Changed the Housing Market | Simplifying The Market

When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over a decade ago. Thankfully, the forbearance program changed that. It provided much-needed relief for homeowners so a foreclosure crisis wouldn’t happen again. Here’s why forbearance worked.

Forbearance enabled nearly five million homeowners to get back on their feet in a time when having the security and protection of a home was more important than ever. Those in need were able to work with their banks and lenders to stay in their homes rather than go into foreclosure. Marina Walsh, Vice President of Industry Analysis at the Mortgage Bankers Association (MBA), notes:

“Most borrowers exiting forbearance are moving into either a loan modification, payment deferral, or a combination of the two workout options.”

As the graph below shows, with modification, deferral, and workout options in place, four out of every five homeowners in forbearance are either paid in full or are exiting with a plan. They’re able to stay in their homes.

Why the Forbearance Program Changed the Housing Market | Simplifying The Market

What does this mean for the housing market?

Since so many people can stay in their homes and work out alternative options, there won’t be a wave of foreclosures coming to the market. And while rising slightly since the foreclosure moratorium was lifted this year, foreclosures today are still nowhere near the levels seen in the housing crisis.

Forbearance wasn’t the only game changer, either. Lending standards have improved significantly since the housing bubble burst, and that’s one more thing keeping foreclosure filings low. Today’s borrowers are much more qualified to pay their home loans.

And while the majority of homeowners are exiting the forbearance program with a plan, for those who still need to make a change due to financial hardship or other challenges, today’s record-level of equity is giving them the opportunity to sell their houses and avoid foreclosure altogether. Homeowners have options they just didn’t have in the housing crisis when so many people owed more on their mortgages than their homes were worth. Thanks to their equity and the current undersupply of homes on the market, homeowners can sell their houses, make a move, and not have to go through the foreclosure process that led to the housing market crash in 2008.

Thomas LaSalvia, Chief Economist with Moody’s Analytics, states:

“There’s some excess savings out there, over 2 trillion worth. . . . There are people that have ownership of those homes right now, that even in a downturn, they’d still likely be able to pay that mortgage and won’t have to hand over keys. And there won’t be a lot of those distressed sales that happened in the 2008 crisis.”

Bottom Line

The forbearance program was a game changer for homeowners in need. It’s one of the big reasons why we won’t see a wave of foreclosures coming to the market.

Content previously posted on Keeping Current Matters

* This article was originally published here

Friday, August 5, 2022

Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC]

Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC] | Simplifying The Market

Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC] | Simplifying The Market

Some Highlights

Content previously posted on Keeping Current Matters

* This article was originally published here

Why It’s Still a Sellers’ Market

Why It’s Still a Sellers’ Market | Simplifying The Market

As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you should know the market is still anything but normal.

Even though the supply of homes for sale has been growing this year, there’s still a shortage of homes on the market. And that means conditions continue to favor sellers today. That’s because the level of inventory of homes for sale can help determine if buyers or sellers are in the driver’s seat. Think of it like this:

  • A buyers’ market is when there are more homes for sale than buyers looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their house.
  • In a sellers’ market, it’s just the opposite. There are too few homes available for the number of buyers in the market and that gives the seller all the leverage. In that situation, buyers will do what they can to compete for the limited number of homes for sale.
  • A neutral market is when supply is balanced and there are enough homes to meet buyer demand at the current sales pace.

And for the past two years, we’ve been in a red-hot sellers’ market because inventory has been near record lows. The blue section of this graph highlights just how far below a neutral market inventory still is today.

Why It’s Still a Sellers’ Market | Simplifying The Market

What Does This Mean for You?

Ed Pinto, Director of the American Enterprise Institute’s Housing Center, gives a perfect summary of what’s happening in today’s market, saying:

“Overall, the best summary is that we’ll move from a gangbuster sellers’ market to a modest sellers’ market.”

Conditions are still in your favor even though the market is cooling. If you work with an agent to price your house at market value, you’ll find success when you sell your house today. While buyer demand is softening due to higher mortgage rates, homes that are priced right are still selling fast. That means your window of opportunity to list your house hasn’t closed.

Bottom Line

Today’s housing market still favors sellers. If you’re ready to sell your house, let’s connect so you can start making your moves.

Content previously posted on Keeping Current Matters

* This article was originally published here

Monday, August 1, 2022

Why Are People Moving Today?

Why Are People Moving Today? | Simplifying The Market

Buying a home is a major life decision. That’s true whether you’re purchasing for the first time or selling your house to fuel a move. And if you’re planning to buy a home, you might be hearing about today’s shifting market and wondering what it means for you.

While mortgage rates are higher than they were at the start of the year and home prices are rising, you shouldn’t put your plans on hold based solely on market factors. Instead, it’s necessary to consider why you want to move and how important those reasons are to you. Here are two of the biggest personal motivators driving people to buy homes today.

A Need for More Space

Moving.com looked at migration patterns to determine why people moved to specific areas. One trend that emerged was the need for additional space, both indoors and outdoors.

Outgrowing your home isn’t new. If you’re craving a large yard, more entertaining room, or just need more storage areas or bedrooms overall, having the physical space you need for your desired lifestyle may be reason enough to make a change.

A Desire To Be Closer to Loved Ones

Moving and storage company United Van Lines surveys customers each year to get a better sense of why people move. The latest survey finds nearly 32% of people moved to be closer to loved ones.

Another moving and storage company, Pods, also highlights this as a top motivator for why people move. They note that an increase in flexible work options has helped many homeowners make a move closer to the people they care about most:

“. . . a shifting of priorities has also affected why people are moving. Many companies have moved to permanent remote working policies, giving employees the option to move freely around the country, and people are taking advantage of the perk.”

If you can move to another location because of remote work, retirement, or for any other reason, you could leverage that flexibility to be closer to the most important people in your life. Being nearby for caregiving and being able to attend get-togethers and life milestones could be exactly what you’re looking for.

What Does That Mean for You?

If you’re thinking about moving, one of these reasons might be a top motivator for you. And while what’s happening with mortgage rates and home prices in the housing market today will likely play a role in your decision, it’s equally important to make sure your home meets your needs. Like Charlie Bilello, Founder and CEO of Compound Capital Advisors, says:

Your home is your castle and should confer benefits beyond just the numbers.”

Bottom Line

There are many reasons why people decide to move. No matter what the reason may be, if your needs have changed, let’s connect to discuss your options in today’s housing market.

Content previously posted on Keeping Current Matters

* This article was originally published here