Selling Your Home In 2025? Here's What Buyers Want (And How To Deliver)

Thinking about listing your home in 2025? If so, you're smart to start planning ahead. With housing inventory rising in many market segments, today’s sellers need more than just a “for sale” sign to stand out.1

The good news? You can still make a strong impression and command top dollar—if you know what today’s buyers are really looking for.

We’ve outlined six of the top homebuyer priorities in 2025, along with a clear action plan to help you position your property for success. Whether you're weeks or months away from listing, these insights will help you attract serious offers and maximize your return.

BUYER PRIORITY #1: Move-In-Ready Condition

Buyers want homes that are ready to enjoy from day one. In fact, a recent survey found that 94% of buyers said it was either “very important” or “somewhat important” to buy a home that’s move-in ready.2 Properties that feel fresh and well-maintained are far more likely to attract competitive offers.

Seller Action Plan:

●      Refresh your interior.
This might include painting rooms in neutral, contemporary colors and swapping outdated fixtures for more modern alternatives. We may also recommend that you take down heavy drapery or dated blinds to brighten your space and clean or replace flooring to create a clean and cohesive look.

●      Fix anything that’s broken.
If something isn’t working quite right, repair it now. Provide maintenance records, if you have them, and consider a pre-listing inspection to identify potential issues early—helping avoid delays or negotiations later. We can advise you on the best course of action given your circumstances and your home’s condition.

●      Strategically enhance kitchens and bathrooms.
Modern kitchens and bathrooms are a major selling point for many buyers.3 While you don’t necessarily need a full remodel, smaller updates—like replacing kitchen appliances or retiling a bathroom shower—can make a big difference. At a minimum, ensure all surfaces–-including cabinets, countertops, and floors—are clean and in good condition, and address any grout issues or needed repairs.

Our team can help you identify and prioritize strategic improvements that will maximize your home's appeal and market value. Contact us for a free evaluation!

BUYER PRIORITY #2: Flexible Closing Timelines

Many of today’s buyers are juggling complicated schedules and circumstances, especially if they need to time the sale of their current home with the purchase of their new one. If you are able to offer a flexible closing timeline, it can deliver an advantage.

Seller Action Plan:

●      Define your ideal timeline and explore your level of flexibility.
We can discuss your goals and expectations for a closing timeline and consider how much flexibility you might be able to offer buyers. This will depend on your specific circumstances, but additional leeway can be helpful.
 

●      Make a plan to get out of your home quickly if needed.
Some buyers need to move out of their current home quickly or relocate by a certain date to start school or a new job. Therefore, they may require an accelerated closing timeline. These buyers will be particularly interested in finding sellers who are willing and able to accommodate a fast closing. Worried about finding a new home if yours sells quickly? We can help you assess your options.4

●      Leverage your real estate agent’s negotiation expertise.
Closing dates can be tricky to navigate. As experienced professionals, we can help you work through the details to arrive at a mutually beneficial arrangement for you and the buyer.

Trying to figure out a plan for your move? Schedule a free consultation to discuss your specific selling timeline and explore flexible closing options.

BUYER PRIORITY #3: Assistance & Incentives

The high cost of purchasing a home leaves many homebuyers financially tapped out. Offering strategic assistance and incentives can make your property stand out and attract a larger pool of potential purchasers. That’s why, in a recent survey of real estate agents, the majority recommended offering some type of homebuyer incentive.5

Seller Action Plan:

●      Consider closing cost assistance.
Closing costs remain a significant barrier for many homebuyers, especially first-timers or those with limited savings. You might cover some of these expenses—such as mortgage fees or the buyer’s agent commission—using proceeds from the sale6. This type of assistance can make a big difference in helping buyers afford your home.

●      Evaluate the value of a mortgage rate buydown.
Another option popular with buyers is a temporary or permanent mortgage rate buydown.7 This means that you pay a lump sum upfront to reduce their mortgage rate (and their monthly payments), making a home purchase significantly more affordable for buyers.

●      Offer an improvement allowance or home warranty.
For homebuyers who are already stretched financially, the cost of home improvements and repairs can be a big concern. One way to alleviate those concerns is to offer a home improvement allowance. For example, you could offer to pay a set amount toward new kitchen appliances or to replace worn carpeting. Another solution is to offer buyers a one-year home warranty from a reputable provider.

The most effective incentive strategies will depend on your specific property and its target buyers. Our team can help you identify creative and impactful options tailored to your home.

BUYER PRIORITY #4: Curb Appeal

A well-maintained and visually appealing exterior, often referred to as "curb appeal," is essential for generating interest and bringing buyers in the door. In fact, 97% of Realtors say that curb appeal is important to buyers, and research indicates that properties with strong curb appeal tend to sell faster and for higher prices.8

Seller Action Plan:

●      Maintain an immaculate exterior.
Ensure your landscaping is well-maintained while it’s on the market, with your lawn mowed, hedges trimmed, and flower beds weed-free. If this isn’t your strong suit, invest in a professional service. When it comes to your home itself, a welcoming entrance with a clean, freshly painted front door and updated hardware can make a big difference.

●      Address visible exterior elements.
Inspect and touch up any peeling or faded paint on the siding or trim, and repair or replace any damaged siding or roofing. Check that your walkways and driveway are in good condition and that your outdoor lighting is sufficient and in working order.

●      Keep things clean.
Thoroughly power wash the siding, walkways, driveway, and any other exterior surfaces to remove dirt, grime, and mildew. Clean all windows and screens, both inside and out, to maximize natural light and improve the overall appearance of your home.

We’re happy to offer specific recommendations to enhance your property's curb appeal and to refer you to landscapers, painters, and other professionals for help.

BUYER PRIORITY #5: Functional Spaces

Today's buyers often prioritize properties that offer flexible and functional living spaces capable of adapting to their evolving needs, ranging from entertaining to remote work.9 This includes the increasing importance of reliable, high-speed internet connectivity, which has become essential for work and school, smart home technology, and overall modern living.

Seller Action Plan:

●      Showcase versatile spaces to highlight their adaptability.
Stage rooms to demonstrate their potential for various uses, such as a dedicated home office, a guest room that can also serve as a workout space, or a flexible living area that can accommodate a reading nook.

●      Highlight storage and organization solutions.
Functional living isn’t just about primary spaces—it’s also about smart storage. Showcase built-in shelving, closet systems, and other storage solutions that help keep the home organized and clutter-free. This gives buyers a sense of ease and livability.

●      Keep connectivity in mind.
Today’s buyers want high-tech capabilities without sacrificing style.10 High-speed internet access has become increasingly important, and technology features—like home automation systems and built-in charging stations—offer seamless integration while preserving a clean, modern aesthetic. If your home features any coveted technology features, be sure to highlight them.

Our team can help you stage your home to attract more potential buyers. Reach out for our recommendations!

BUYER PRIORITY #6: Energy Efficiency & Sustainability

With rising utility costs and a focus on environmental responsibility and clean living, buyers are looking for homes with eco-friendly features.11 A few small changes can help you make the most of that desire and draw in conscious buyers.

Seller Action Plan:

●      Incorporate and highlight sustainable materials.
Buyers are increasingly drawn to homes that feature eco-conscious design choices. If you’ve used sustainable materials—like bamboo flooring, recycled glass countertops, low-VOC paints, or reclaimed wood accents—make sure to highlight these details. They not only enhance your home’s aesthetic but also signal a thoughtful, environmentally responsible approach to design.

●      Install energy-efficient features.
While it isn’t always cost-effective to add these features solely to sell your home, if you plan on making any upgrades to windows, systems, or appliances, keep energy efficiency in mind. You may also want to consider upgrades like a smart thermostat that can both help cut utility bills and show potential buyers that your home is loaded with the latest technology.

●      Take steps to reduce energy loss throughout the home.
Simple upgrades like sealing gaps around doors and windows, adding weather stripping, or insulating the attic can significantly improve a home’s energy efficiency.12 These improvements may seem small, but they can lower utility bills and demonstrate to buyers that the home has been well maintained with long-term savings in mind.

We can help you identify the most impactful energy-efficient upgrades and highlight your home’s sustainable features to attract today’s eco-conscious buyers.

Partnering for Success: Your Strategic Advantage in Today's Market

Successfully selling your home in today’s competitive and ever-evolving market requires more than luck—it demands insight, preparation, and expert strategy. By aligning your listing with the priorities of today’s buyers, you’ll position your property to stand out and sell faster for top dollar.

Our team is here to guide you every step of the way. From personalized recommendations and trusted vendor referrals to strategic pricing and marketing, we’re committed to helping you achieve a smooth and profitable sale.

Ready to take the next step? Contact us today for a complimentary home value assessment and customized sales plan designed to make your property shine. Let’s work together to turn your real estate goals into reality!

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1.     The Mortgage Report -
https://themortgagereports.com/111334/monthly-for-sale-home-listings

2.     Bright MLS -
https://brightmls.com/article/what-will-homebuyers-want-in-2025

3.     Homelight -
https://www.homelight.com/blog/which-renovations-increase-home-value/

4.     Homelight -
 https://www.homelight.com/blog/buyer-how-to-buy-a-house-while-selling-your-own/

5.     Homelight -
https://www.homelight.com/blog/real-estate-top-agent-insights-for-end-of-year-2024/

6.     Federal Housing Finance Authority -
https://www.fhfa.gov/blog/insights/opening-new-doors-overcoming-obstacles-to-attain-affordable-homeownership

7.     LendingTree -
https://www.lendingtree.com/home/mortgage/buydown/

8.     National Association of Realtors -
https://www.nar.realtor/research-and-statistics/research-reports/remodeling-impact-report-outdoor-features#

9.     Yahoo -
https://www.yahoo.com/lifestyle/home-trends-buyers-looking-2025-151535883.html

10.   Apartment Therapy -
https://www.apartmenttherapy.com/2025-house-style-trend-prediction-real-estate-37448456

11.   National Association of Realtors -
https://www.nar.realtor/magazine/real-estate-news/sales-marketing/13-features-new-home-buyers-say-are-essential-desirable

EnergyStar -
https://www.energystar.gov/saveathome/seal_insulate/why-seal-and-insulate

5 ROADBLOCKS TO AFFORDABLE HOMEOWNERSHIP (AND WAYS TO MOVE PAST THEM)

Dreaming of a new home but feeling priced out? You’re not alone! According to a recent survey by Bankrate, 78% of aspiring homebuyers cite affordability issues as their primary deterrent.1

According to data from the U.S. Census Bureau, home prices have risen around 32% since the pandemic, and elevated mortgage rates have caused monthly payments to balloon.2

Despite the challenges, homeownership remains a top goal for many Americans. Fortunately, there are ways to turn your dreams of homeownership into reality! In this guide, we’ll explore five common roadblocks to affordable homeownership and actionable solutions to help you overcome them. Let’s break down those barriers so you can finally get the home of your dreams!

ROADBLOCK #1: I Don't Have Enough Saved For A Down Payment

Many prospective buyers believe they need a 20% down payment to buy a home. But in reality, most conventional loans require just 3-5%. And, for buyers who qualify, there are a number of programs and mortgage options that can make a home purchase more accessible.

Down Payment Assistance Programs (DPAs)

DPAs offer grants, loans, and other financial assistance to help with your down payment and closing costs. Many programs are specifically designed for first-time buyers, but there are also options for repeat homebuyers.3,4 These programs can significantly reduce the upfront costs of buying a home. We can help you find down payment assistance programs. Contact us to find out if you may qualify!

0% Down Government-Backed Mortgages
If you qualify for certain government-backed mortgages, you may not need to come up with a down payment at all.5 While these loans, offered by the Department of Veterans Affairs (VA) and the United States Department of Agriculture (USDA), are not available to all buyers, they offer numerous benefits, including competitive rates and no down payment requirement.

●      VA loans are available to U.S. military members, including veterans and surviving spouses.6 They do not require a down payment, though the buyer must pay a fee at closing.

●      USDA loans are available to moderate to low-income buyers in certain rural areas.7 They do not require a down payment.

Family Gifts

Did you know that 25% of first-time buyers in 2024 reported receiving down payment gifts or loans from family members or friends?8 In fact, a growing number of Baby Boomers are choosing to gift all or a portion of their heirs’ inheritance before they pass away.9 Some financial advisors even recommend this as part of their client’s estate plan. Just be sure to follow the proper procedures to document these types of gifts, if you’re fortunate enough to receive them.10

Existing Home Equity

Due to record-high real estate gains over the past few years, if you already own a home, you may have more equity than you realize.11 This equity (or difference between your home’s current value and what you owe on your mortgage) could go toward a down payment on a new property. Wondering how much equity you have in your current home? Reach out for a free home value assessment.

ROADBLOCK #2: I Can't Afford the Monthly Payment

Worried about those monthly mortgage payments? High interest rates and rising costs can make mortgage payments feel daunting. But there are strategies to reduce your monthly burden.

Explore Alternative Mortgage Terms

The traditional 30-year fixed-rate mortgage isn’t the only kind of loan out there. Options like adjustable-rate mortgages (ARMs) or hybrid mortgages can offer lower initial rates.12, 13 Some buyers opt for these if they plan to sell the home before the initial rate term ends or refinance down the road. A lower mortgage rate can significantly lower your monthly payment. However, it’s important to understand the risks involved so you can weigh the pros and cons before deciding.

Consider Discount Points

Buying discount points—a process also known as a permanent rate buy-down—is another great way to limit your monthly costs.14 Essentially, this strategy involves prepaying a fee to lower your interest rate across the life of your loan. If a seller is especially motivated, they may be willing to pay for discount points for the buyer to close the deal on a home. In some cases, we can help you negotiate these types of seller concessions.

Ask About Seller Financing or an Assumable Mortgage

Here are two less common options you might not have considered:15

●      Seller Financing – The seller acts as the bank, offering you potentially better terms than a traditional mortgage.

●      Assumable Mortgage – You take over the seller's existing mortgage with a lower interest rate than what's currently offered by lenders.

Note that these options may or may not be possible for you depending on the seller, the home, and the type of mortgage, but they are worth exploring—and we can help.

Co-Buy with Family or Friends

A growing number of homebuyers are returning to multigenerational living or are even buying a home with friends.16 This arrangement enables you to cut costs significantly while sharing both the time and financial responsibilities of homeownership. We can help you search for homes that are well suited for your group.

Purchase a Home with Income Potential

You can generate extra income to offset your mortgage payments by purchasing a duplex, renting out a room or an accessory dwelling unit (like a garage apartment), or even listing your property on Airbnb. We work with investors and can help you find a property to meet your goals.

ROADBLOCK #3: I Can't Qualify for a Mortgage

Qualifying for a mortgage can be a stressful process, especially if you have previously faced financial challenges. But you might be pleasantly surprised—there’s a lot you can do to improve your chances of success.

Boost Your Credit Score

Your credit score is foundational when it comes to getting a mortgage.17 A higher score typically means a lower interest rate and more options. Take steps to improve your credit by paying bills on time, reducing debt, and checking your credit report for errors. Even a small improvement in your score can make a big difference. Pro tip: Avoid opening or closing credit cards or taking out other loans (like car or personal loans) if you plan to start home shopping in the near future.

Lower Your Debt-to-Income Ratio

Lenders want to see that you can comfortably handle your debts. They assess this by calculating your debt-to-income ratio: your total monthly loan payments (including mortgage, car loans, student loans, and credit cards) divided by your gross monthly salary.18 Paying down other types of debt, like your car loan, will leave more space in your budget for a monthly mortgage payment.

Apply for an FHA Loan

FHA loans are designed for buyers with less access to savings, as well as those with lower credit scores.19 Down payments on FHA mortgages can be as low as 3.5% with a credit score of 580 or above, or 10% with a credit score of 500 or above. Generally, the buyer’s debt-to-income ratio must be below 43%, with no more than 31% of income going to mortgage payments. These loans do come with some additional requirements, such as mortgage insurance (including an upfront premium of 1.75% at closing), a pre-purchase inspection, and borrowing limits that vary based on geographic area.

Consider Getting a Co-Signer

Having a co-signer with a stronger credit history or more income can strengthen your application, but make sure you (and they) understand the risks and responsibilities involved.

ROADBLOCK #4: I Can't Find a Home in My Price Range

Feeling frustrated by the lack of affordable homes on the market? Unfortunately, this is a common problem.20 But with a little flexibility and guidance, it’s possible to find a great property to fit most budgets.

Expand Your Home Search

You may need to search outside your target area. In many markets, home prices vary drastically within the span of miles.21 Being open to exploring alternative neighborhoods or those farther from town can open up surprising possibilities. As local market experts, we can help you discover hidden gems and up-and-coming neighborhoods. Reach out for a complimentary consultation.

Revisit Your Must-Haves

Take a close look at your "must-have" list. Are there any features you can compromise on to expand your options and find a more affordable property? For example, do you really need two bathrooms, or could you settle for a single bathroom with space to add a second one in the future? These types of compromises can sometimes shave tens of thousands off your purchase price. We’re happy to offer our thoughts on the features that you’re likely to find within your budget.

Consider Fixer-Uppers

Looking to cut purchase costs? Don't shy away from homes that need a little TLC.22 Fixer-uppers usually come with a lower price tag, and you can personalize the renovations to your taste. Just be sure to factor in the cost of repairs and renovations when determining your budget—and to be realistic about your own home repair skills! If you’re interested in exploring fixer-upper opportunities, we can help you identify properties with potential and connect you with reliable contractors.

ROADBLOCK #5: I'm Overwhelmed by the Process

Buying a home can feel like navigating a maze. Between searching for properties, securing financing, negotiating contracts, and handling paperwork, the process can quickly become overwhelming. But you don’t have to do it alone! We can simplify every step, helping you stay organized, informed, and confident in your decisions.

Find the Right Home Faster

The sheer number of listings on the market can be daunting, and homes that meet your criteria may not always be easy to find. Our team can:

●      Save you time by narrowing down homes that fit your budget, needs, and lifestyle.

●      Get you access to off-market and pre-listing properties that aren’t widely advertised.

●      Provide insights on local market trends to help you make a competitive offer.

Navigate Financing & Paperwork With Ease

Real estate transactions involve complex contracts, legal documents, and lender requirements. One misstep could delay your purchase—or even cost you your dream home. We will:

●      Help you find down payment assistance or grants that you may not be aware of.

●      Explain mortgage options and connect you with reputable lenders.

●      Ensure all purchase documents are accurate and deadlines are met.

Score the Best Deal

Many buyers worry about overpaying for a home or getting stuck with costly repairs, but we know how to:

●      Use expert negotiation tactics to secure the best possible price.

●      Identify hidden costs so you aren’t caught off guard at closing.

●      Negotiate repairs or seller concessions to save you money.

Streamline Inspections & Closing

The home inspection and closing process can bring last-minute surprises. We avoid these by:

●      Helping you interpret inspection reports and advising on necessary repairs.

●      Coordinating with lenders, appraisers, and title companies to keep everything on track.

●      Preparing you for closing day so you know exactly what to expect.

Benefit From Ongoing Support

Our relationship doesn’t end once you get the keys. We always go the extra mile to:

●      Recommend trusted contractors for renovations and repairs.

●      Help you make strategic upgrades through complimentary real estate consultations.

●      Provide market updates in case you want to refinance or sell later.

The bottom line? You don’t have to navigate this process alone. When you work with us, you’ll have a trusted partner to handle the complexities, answer your questions, and ensure everything goes smoothly from start to finish.

LET’S TURN ROADBLOCKS INTO STEPPING STONES TOWARD YOUR DREAM HOME

Buying a home may come with challenges, but none of them are impossible to overcome. With the right strategies, resources, and expert guidance, you can navigate these obstacles with ease.

Whether you're worried about saving for a down payment, qualifying for a mortgage, or finding the right home in your price range, there are solutions available to help you move forward. The key is to stay informed, explore all your options, and work with professionals who can guide you every step of the way.

Our team is here to help you find the right home, secure the best financing, and negotiate the best deal—without the stress and uncertainty of doing it all yourself. Let’s turn your homeownership dreams into reality. Contact us today to get started!

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

SOURCES:

1.     Bankrate -
https://www.bankrate.com/mortgages/home-affordability-report/#unaffordability

2.     Nerdwallet -
https://www.nerdwallet.com/article/mortgages/2025-home-buyer-report

3.     Bankrate -
https://www.bankrate.com/mortgages/first-time-homebuyer-grants/#types

4.     Down Payment Resource -
https://downpaymentresource.com/

5.     Bankrate -
https://www.bankrate.com/mortgages/types-of-mortgages/#government-backed

6.     Bankrate -
https://www.bankrate.com/mortgages/understanding-va-loans/

7.     Bankrate -
https://www.bankrate.com/mortgages/what-is-a-usda-loan/

8.     National Association of Realtors -
https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers

9.     Business Insider -
https://www.businessinsider.com/boomers-not-waiting-pass-inheritance-wealth-transfer-millennials-need-it-2024-7

10.   Experian -
https://www.experian.com/blogs/ask-experian/down-payment-gift-rules/

11.   Bankrate -
https://www.bankrate.com/home-equity/homeowner-equity-data-and-statistics/

12.   Nerdwallet -
https://www.nerdwallet.com/article/mortgages/adjustable-rate-mortgage-arm

13.   Lending Tree -
https://www.lendingtree.com/home/mortgage/what-is-a-hybrid-mortgage/

14.   Investopedia -
https://www.investopedia.com/terms/d/discountpoints.asp

15.   Lending Tree -
https://www.lendingtree.com/home/mortgage/what-to-know-about-owner-financing/

16.   National Association of Realtors -
https://www.nar.realtor/blogs/economists-outlook/home-for-the-holidays-the-rise-of-multi-generational-home-buying

17.   Consumer Financial Protection Bureau -
https://www.consumerfinance.gov/consumer-tools/credit-reports-and-scores/

18.   Nerdwallet -
https://www.nerdwallet.com/article/mortgages/debt-income-ratio-mortgage

19.   Bankrate -
https://www.bankrate.com/mortgages/what-is-an-fha-loan/#requirements

20.   Bankrate -
https://www.bankrate.com/real-estate/low-inventory-housing-shortage/

21.   Realtor -
https://www.realtor.com/advice/buy/priced-out-of-dream-neighborhood-cheaper-alternative/ 

22.   This Old House -
https://www.thisoldhouse.com/buying/21017198/buying-a-fixer-upper-house

Home-Related Tax Deductions

Tax season. Just the words can send shivers down your spine. But if you're a homeowner, there's a silver lining: potential savings!

You’ve probably heard that you can deduct the interest you pay on your mortgage — but did you know there are many other ways homeowners can reduce their tax burden?

Before you start your return, read this post for common home-related tax deductions, eligibility requirements, and tips on how to maximize your savings.

Home-Related Tax Savings: The Basics

Before we get into the details, it’s important to define some important terms to set the stage.

Tax Deductions vs. Tax Credits

Most tax savings opportunities for homeowners come in the form of tax deductions. Deductions work by reducing your taxable income — essentially, the government allows you to subtract certain expenses from your total income before calculating how much you owe in taxes. This means a lower taxable income and, ultimately, a lower tax bill. For example, if you earn $50,000 and claim tax deductions worth $5,000, you will only pay taxes on $45,000.

Tax credits, on the other hand, directly reduce your tax bill, rather than your taxable income. That means that if you owe $10,000 in taxes and claim a tax credit worth $2,000, your tax bill will be reduced to $8,000.

Pro Tip: Meticulous record-keeping is crucial. Keep detailed records of all potentially eligible expenses. This will make tax time much smoother and ensure you don't miss out on any deductions.

Itemized Deductions vs. Standard Deduction

To understand what deductions apply to your situation, it's important to know the difference between itemized deductions and the standard deduction. The standard deduction is a fixed dollar amount that you can subtract from your adjusted gross income (AGI) regardless of your actual expenses. Itemized deductions, on the other hand, are specific expenses that you can deduct, such as mortgage interest, property taxes, and charitable contributions.

You'll need to choose whether to itemize or take the standard deduction. Generally, you should itemize if your total itemized deductions exceed the standard deduction. Most home-related deductions are only applicable if you choose to itemize.

2025 Standard Deduction Amounts

●      Single and Married Filing Separately: $15,000

●      Head of Household: $22,500

●      Married Filing Jointly: $30,0001

Source: IRS

Key Home-Related Tax Deductions and Credits

If you do choose to itemize your taxes, common tax deductions and credits available to homeowners include:

Mortgage Interest Deduction

No one likes to pay mortgage interest, but the good news is that you can deduct interest used to buy or build your primary residence or a second home. However, there are certain limitations that you need to be aware of.2

Mortgage size: If you file your taxes single or married filing jointly, you can deduct interest paid on the first $750,000 of mortgage debt3 for your primary residence or second home. If you are married but choose to file separately, that limit drops to the first $375,000 (for each partner).

Requirements:

●      The mortgage interest deduction only applies if your home is collateral for the loan (which is standard).

●      To qualify as a primary home, your property must have sleeping, cooking, and toilet facilities.

●      If you are deducting mortgage interest on a second home, you don’t need to use the home during the year; however, if you rent it out, you must spend at least 14 days or more than 10% of the days you rented it out (whichever is longer).

So, how do you calculate how much mortgage interest you’ve paid?

The amount of interest you pay each year will vary, even if your interest rate is fixed — that’s because mortgage amortization3 means that you pay more interest earlier in the mortgage’s term, and more principal closer to the end. Each year, your lender will send you (and the IRS) a copy of Form 1098, which shows how much you paid in interest.4

For example, let’s say you are a married homeowner filing jointly with a mortgage for $400,000. If your Form 1098 shows that you paid $25,000 in mortgage interest in 2025, you could deduct the full $25,000 from your 2025 household income.

Real Estate Taxes (Property Taxes)

You can deduct state and local real estate taxes (property taxes) you pay on your primary residence or second home. However, it's crucial to understand what qualifies. Only property taxes imposed for “general public welfare” are deductible5—if your town imposes a special assessment for a project that directly improves your property value, like a sewer line, that is not deductible. Furthermore, fees for local services, such as trash collection or sewer maintenance, are not deductible, even though your town may list them on the same bill as your property taxes.

There's also a limit: the 2017 Tax Cuts and Jobs Act imposed a $10,000 cap on the total amount of state and local taxes (SALT)6 you can deduct. This includes state and local income tax (or sales tax) as well as property taxes.

Finally, be aware that the amount you deduct must match the amount actually paid to the tax authority.7 This might differ from what you put into escrow if you pay property taxes through your mortgage lender. Typically, the amount your lender paid to your tax authority is listed on Form 1098.

Home Equity Loan Interest

You can deduct the interest paid on home equity loans or home equity lines of credit, but with a significant caveat. Since 2017, that interest is only deductible if the loan proceeds are used to buy, build, or substantially improve3 your primary residence or second home, and the loan is secured by the home.

If you use the home equity loan for other purposes, such as a vacation, debt consolidation, or purchasing a car, the interest is generally not deductible.  If you use part of the loan or line of credit for eligible purchases, and part for non-eligible purchases, only interest incurred on the portion used for eligible spending is deductible.

Loan interest is also not deductible if the funds are used for home improvement projects or repairs that do not “substantially improve” your home. Smaller projects, like repainting or new cabinets, likely do not qualify. However, projects like building an addition, a full kitchen remodel, or installing a new roof should qualify as substantial improvements.8

It’s also important to note that home equity loan and HELOC interest rate deductions are subject to the same upper limits3 as mortgages (and are added together with your mortgage for calculation purposes). For example, if you have a $500,000 mortgage and a $300,000 home equity line of credit—which together exceed the $750,000 limit for a married couple—you would only be able to deduct interest paid on the first $750,000 of those combined loans.

Home Improvement Expenses

You can't usually deduct home improvement expenses directly.9 However, the money you spend on capital improvements (improvements that increase your home's value) can help reduce your tax bill later. These expenses are added to your home's "cost basis,"10 which reduces your capital gains tax when you eventually sell the house. Think of it this way: by keeping records of your home improvements, you're essentially increasing the "price" you're considered to have paid for your home, thus lowering your profit when you sell.

It’s important to note that not all projects qualify as capital improvement. Basic repairs and updates likely won’t qualify, while major additions and landscaping likely will (the considerations are the same as those used to determine whether home equity loan interest is deductible).

Beyond capital improvement, there are a few specific categories of home improvement that are deductible, including work on home offices (which is subject to specific limitations) and certain modifications for medical/accessibility reasons.11

Energy-Efficient and Clean Energy Tax Credits

Certain energy-efficient home improvements can qualify you for valuable tax credits. Unlike deductions, which reduce your taxable income, tax credits directly reduce your tax bill, making them even more beneficial.

For qualifying energy efficiency expenses in the 2024 tax year12, homeowners can claim up to 30% of qualified expenses on their federal tax return, with a maximum credit of $3,200.13 However, some qualifying expenses, like new exterior doors and windows, come with their own maximum credit limits, so it's essential to check the specific rules.

Another option is the Residential Clean Energy Tax Credit, which offers a 30% credit for the cost of installing renewable energy systems, such as solar panels, on your primary residence or a second home that you use part-time and don't rent out.13 Many states also offer their own tax deductions, rebates, or credits related to energy efficiency and clean energy, so be sure to investigate what's available in your state.

Selling Your Home and Taxes

When you sell your home, the difference between the selling price and what you originally paid for it (plus any major improvements) is called your capital gain.  Think of it as your profit from the sale.  Let's walk through a simple example:

Imagine you bought your home for $200,000. Over the years, you invested in some significant upgrades, like a kitchen remodel ($30,000), a new roof ($15,000), and landscaping ($5,000). These are called "capital improvements," and they increase your home's "cost basis"—essentially, what the IRS considers you to have invested in the property. In this case, your adjusted cost basis would be $250,000 ($200,000 original price + $50,000 improvements).

Now, let's say you sell your home for $350,000. Your capital gain would be $100,000 ($350,000 selling price - $250,000 adjusted cost basis).

Capital Gains Exclusion

The good news is that the IRS allows you to exclude a significant portion of your capital gain from taxation!14  If you're single, you can exclude up to $250,000, and if you're married filing jointly, you can exclude up to $500,000.  To qualify for this exclusion, you need to have owned and used the home as your primary residence for at least two out of the five years before the sale.  This is a key factor to consider when deciding how long you plan to live in a home.

Essentially, this exclusion means that, in many cases, homeowners won't owe any capital gains tax when they sell their primary residence.  It's a valuable tax benefit that can significantly impact your finances.  Keep good records of your purchase price and any capital improvements you make to ensure you can accurately calculate your capital gain and take full advantage of the exclusion when you sell.

Record-Keeping Tips for Homeowners

Organized records are essential for taking advantage of tax deductions and credits. Keep all relevant documents, such as mortgage statements, property tax bills, and receipts for home improvements, readily accessible.15 It's wise to keep both physical and digital copies (scan and save everything!). Store physical copies securely, perhaps in a safe deposit box. Keep all home-related records for as long as you own the home, plus at least three years after you file your tax returns for the year of the sale.

Conclusion

Homeownership offers numerous opportunities to save on taxes. From mortgage interest and property taxes to energy-efficient upgrades and capital gains exclusions, understanding these deductions and credits can significantly reduce your tax burden. Remember, this information is for general guidance only. Consulting with a qualified tax professional is invaluable for personalized advice.

Have questions about real estate or need a referral to a trusted tax advisor? Contact us today!

Note: This information is accurate as of February 2025 and is intended for general guidance only. Tax regulations are subject to change.

Sources:

1.     IRS - https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025

2.     Nerdwallet - https://www.nerdwallet.com/article/taxes/mortgage-interest-rate-deduction

3.     IRS - https://www.irs.gov/forms-pubs/about-publication-936

4.     IRS - https://www.irs.gov/forms-pubs/about-form-1098

5.     IRS - https://www.irs.gov/faqs/itemized-deductions-standard-deduction/real-estate-taxes-mortgage-interest-points-other-property-expenses/real-estate-taxes-mortgage-interest-points-other-property-expenses-5#:~:text=The%20total%20deduction%20allowed%20for,taxes%20or%20sales%20taxes)%20is

6.     IRS - https://www.irs.gov/taxtopics/tc503#:~:text=Overall%20limit,your%20other%20itemized%20deductions%20also.

7.     TurboTax - https://turbotax.intuit.com/tax-tips/home-ownership/claiming-property-taxes-on-your-tax-return/L6cSL1QoB

8.     Bankrate - https://www.bankrate.com/home-equity/home-equity-loan-tax-changes/#how-to-claim

9.     USNews - https://realestate.usnews.com/real-estate/articles/are-home-improvements-tax-deductible

10.   IRS - https://www.irs.gov/publications/p523

11.   NOLO - https://www.nolo.com/legal-encyclopedia/what-home-improvements-tax-deductible.html

12.   USNews - https://money.usnews.com/money/personal-finance/articles/how-consumers-can-save-with-the-new-climate-tax-breaks

13.   IRS - https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit

14.   Bankrate - https://www.bankrate.com/real-estate/capital-gains-tax-on-real-estate/#avoiding-during-home-sale

15.   NOLO - https://www.nolo.com/legal-encyclopedia/tax-reasons-keep-good-records-home-improvements.html

4 Home Remodeling Projects with the Highest ROI

Ask any homeowner about what they would like to change about their home, and most will say, “How much time do you have?

Home improvements (cue Tim Allen) or home remodeling projects can stem from a variety of motivations, like preparing your home to put on the market, adding space for a growing family, addressing outdated features or aesthetics, or fixing structural/functional issues with the home.

However, when it comes to home remodeling projects, too many people assume their project will proportionally increase the value of their home. Few actually consider the complete scope of return on investment (ROI), taking into account not only potential impact on resale value but also the total costs of time, labor, and materials. Some renovations may provide more “quality of life” ROI by improving comfort and aesthetics without significantly impacting resale value, while others can deliver notable financial returns.

Whether you’re looking to upgrade your living space, increase the equity of your home, or trying to make some quick changes to improve your resale price, here are four remodeling projects with the highest ROI and some tips on how to get them done.

Top 4 Home Remodeling Projects with the Highest ROI

Before diving into specific projects, it’s important to understand how the data supporting these ROI estimates was gathered. This article references findings from the 2024 Cost vs. Value Report conducted by Zonda Media, a reputable research firm in the real estate and construction industries. The report’s ROI figures are based on national averages for both the cost of materials and labor, which means that regional differences may lead to variations in actual returns.

1. Garage Door Replacement

●      Job Cost: $4,513

●      Resale Value: $8,751

●      ROI: 193.9%

Replacing an old garage door is one of the simplest ways to dramatically boost your home’s curb appeal—and it happens to deliver the highest ROI of any remodeling project. The impact is largely due to the prominent visual space a garage door occupies on a home’s exterior. A sleek, modern garage door can make your entire facade look fresher and more attractive to buyers.

Garage doors with the highest ROI include insulated steel doors with modern paneling, custom carriage-style doors, and those featuring windows or decorative hardware. These options not only enhance the home’s exterior aesthetics but also improve functionality and energy efficiency.

2. Steel Entry Door Replacement

●      Job Cost: $2,355

●      Resale Value: $4,430

●      ROI: 188.1%

Upgrading to a steel entry door is a simple yet impactful change that can drastically improve both the look and energy efficiency of your home. Steel doors cost less than wood ones, giving you a cost effective way to make a big impact on the curb appeal of a home, without sacrificing performance, life span, or durability.

Why It Works:

●      Cost-Effective Curb Appeal: Steel doors are less expensive than wood but provide a similar aesthetic boost. This makes them a budget-friendly way to enhance a home’s exterior.

●      Energy Efficiency: Many steel doors come with insulating cores, which can help keep your home comfortable year-round and lower energy bills.

●      Increased Security: Steel doors are harder to break into, providing an added layer of safety that appeals to security-conscious buyers.

3. Manufactured Stone Veneer

●      Job Cost: $11,287

●      Resale Value: $17,291

●      ROI: 153.2%

Manufactured stone veneer (MSV) is a high-ROI project because it delivers a striking visual upgrade at a relatively moderate cost. MSV is an artificial cladding material designed to mimic the look of natural stone, making it a cost-effective way to add texture and sophistication to your home’s exterior.

Why It Works:

●      Strong Visual Impact: Stone veneers add depth and elegance, creating an upscale appearance that can significantly boost curb appeal.

●      Durability and Low Maintenance: Unlike natural stone, MSV is lightweight, easier to install, and resistant to wear and tear.

●      Perceived Value: Even though it’s a faux material, MSV adds an air of luxury and craftsmanship that can make your home more appealing to buyers.

Pro Tip: Use manufactured stone veneer to accentuate specific areas, such as around the entryway or along the lower portion of the facade, for maximum visual impact without overspending.

4. Minor Kitchen Remodel (Midrange)

Job Cost: $27,492

●      Resale Value: $26,406

●      ROI: 96.1%

According to Homelight’s “Top Agent Insights End of Year 2024 Report”, “88% of agents say that upgraded kitchens and appliances are one of the best selling points for homes”--a significant increase from the previous year. https://homelightblog.wpengine.com/wp-content/uploads/2024/12/homelight-top-agent-insights-end-of-year-2024-report.pdf

The trick to ROI with a kitchen remodel is the budget, and how you decide to balance what to upgrade, the quality of materials, and how much to work within the existing layout. For example, you can make a big impact with less expense if you keep your current cabinet boxes but upgrade the doors and hardware. However, if you strike that balance, you can recoup much of your investment. If you’re looking to sell, an updated kitchen will appeal to buyers, which can also help your home stand out and sell faster.

Why It Works:

●      High Buyer Interest: Kitchens are a focal point for most buyers, so even modest improvements can make a significant impact.

●      Affordable Upgrades: By focusing on midrange materials—such as quartz countertops, midrange appliances, and refaced cabinets—you can keep costs manageable while still delivering a fresh look.

●      By keeping the existing layout and avoiding costly structural changes, you can modernize your kitchen while keeping costs down.

Key Takeaways for Homeowners

7 out of the 10 best ROI projects all have to do with improvements to the exterior of your home, which makes one thing very clear: Boosting the curb appeal of your home in a cost-effective manner will give you the best ROI if you’re thinking about selling this year.

If you look at the current housing market, you can start to see why that is. In the post-pandemic frenzy, buyers had to accept whatever they could find. However, housing inventory has increased over the last couple of years, giving buyers more options. Additionally, due to high-interest rates and affordability issues, the current market favors older, move-up home buyers who are sitting on equity, and these buyers can afford to be pickier about the home they buy.

You can see these trends play out in the “Top Agent Insights End of Year 2024 Report” conducted by HomeLight:

Given these trends, it’s no wonder that the remodeling projects with the best ROI are those that make the home stand out from other homes in the area and leave a strong impression with potential buyers.

Conversely, the projects with the lowest ROI involve major remodels or upscale materials. Anytime you alter the footprint of a home—such as by moving walls or adding square footage—you’ll incur higher costs and lower returns. Unless you’re a general contractor or a skilled DIYer, these high-end renovations typically aren’t worth it from a purely financial perspective. The one caveat is if you’re in a market where high-end appliances and materials are the rule not the exception.

How to Get Started on a Remodeling Project

Starting a remodeling project can feel overwhelming. Here’s how to set yourself up for success:

1. Outline Your Project Goals
   Before you dive into the nitty-gritty of remodeling, take a step back and clarify what you hope to achieve.
   
   Are you remodeling to improve aesthetics? To improve functionality or comfort for your family? To prepare your home for the market or boost your resale value? Is it an essential repair? After you decide on why you’re doing it, you can take a step back and decide what is worth the cost to you.
   
   

2. Get inspired: Take time to gather ideas and give shape to your vision. Whether you're updating a single room or tackling a whole-house remodel, these resources can inspire you:

○      Houzz – A go-to platform for home remodeling ideas, complete with photos, product links, and even local contractor recommendations.

○      Pinterest – Create mood boards for different rooms by pinning your favorite designs and layouts. You can also add '-pinterest' to Google searches to find more targeted boards and collections of remodeling ideas on Pinterest.

○      This Old House – Packed with articles, videos, and guides on home renovation projects, from DIY fixes to large-scale remodels.

○      YouTube Channels: Follow popular home renovation YouTubers who share real-life projects, product reviews, and practical tips.

○      Visit Local Showrooms: You can visit the showrooms or warehouses from local manufactures for ideas on fixtures, cabinetry, and counter tops.

○      Open Houses - Stop by open houses in your area to get a feel for what’s popular and what other homeowners have done.

○      Local Remodeling / Contractor Websites: Many will post galleries and before/after images of their renovations, and these galleries can be a goldmine for practical remodeling ideas!

1. Prioritize your wants vs. needs: Once you’ve gathered ideas, it’s time to separate the essentials from the extras.

○      Must-Haves: These are the non-negotiable items—structural fixes, code-compliance upgrades, or critical repairs.

○      Nice-to-Haves: These are aesthetic choices or features that you’d like to include if your budget allows.A prioritized list will help you make tough decisions if costs start to climb or timelines get tight.

1. Create a scope and timeline: Clearly defining what’s included (and excluded) in your remodel is critical for staying on schedule and within budget.

○      What’s Included: Are you only updating finishes and fixtures, or are you changing the layout and moving walls?

○      Project Phases: If you’re remodeling multiple areas, consider breaking the project into phases to manage timelines more effectively.

○      Expected Timelines: Be realistic about how long the project will take, especially if you’re working around major life events or seasonal weather.

1. Set a realistic budget: Start by researching the typical costs for your specific type of remodeling project in your area. Resources like Remodeling Magazine’s Cost vs. Value Report, HomeAdvisor, and NAHB provide national and regional averages for popular renovations like kitchens, bathrooms, and additions.
   
   

2. Include a Contingency Fund: Even with thorough planning, unexpected costs seem to always arise. Many experts recommend setting aside 15% - 30% of your total budget for contingencies.
   
   

3. Research contractors & Get Multiple Quotes: If you're hiring contractors, request at least three detailed quotes to compare prices and scope of work. Make sure to clarify what’s included in each quote to avoid misunderstandings. And use your checklist below for some tips on hiring a contractor!

Checklist for Hiring a Contractor

Finding the right contractor is crucial for a successful remodeling project. Here’s a quick checklist to help you hire the right professional:

●      Get recommendations from friends, family, neighbors, and your real estate agent.  Word of mouth is one of the most reliable ways to find a trusted contractor. Ask people you trust about their experiences and if they would hire the contractor again. After you have a recommendation, you can also search for reviews online.

●      Check credentials, licensing, and insurance. Verify that the contractor is licensed to work in your state. Most states have an online database for checking contractor licenses. You can also look for contractors certified by reputable organizations, such as the National Association of the Remodeling Industry (NARI).

●      Review past projects and ask for client references. Ask to see a portfolio of previous projects similar to yours. Pay attention to the quality of work and whether their style aligns with your vision.

●      Request detailed bids from multiple contractors. Ask for written estimates that break down costs into categories such as labor, materials, permits, and any additional fees. Compare bids carefully to ensure all contractors are quoting on the same scope of work.

●      Ensure the contract includes a clear scope of work, timeline, and payment terms.

●      Check references - A reputable contractor should have no issue providing references. Contact past clients and ask about their experience.

●      Avoid red flags

○      Unusually Low Bids: If a bid is significantly lower than others, it could indicate corner-cutting or hidden costs.

○      Pressure to Pay Upfront: A small deposit is normal, but never pay the full amount before work begins.

○      Lack of Written Contract: Never agree to verbal agreements only.

○      Poor Communication: If a contractor is difficult to reach or dismissive during the bidding process, this may continue during the project.

Conclusion

Whether you’re updating your home to sell or simply want to enjoy a more modern space, focusing on high-ROI projects is a smart strategy. From replacing your garage door to enhancing your home’s exterior with stone veneer, these upgrades can boost both your home’s value and appeal.

Curious about what features are popular in your neighborhood? Thinking of moving and wondering what remodeling projects, if any, you should do before listing? Want recommendations on contractors? We’re happy to help!

The Ultimate Relocation Guide: From Finding a House to Feeling at Home

The peak moving season is upon us. In fact, according to Move.com, almost 70% of U.S. moves occur between May and September.1 And while the percentage of Americans who move each year has declined, the desire to relocate remains strong.2,3

In fact, Architectural Digest recently declared “Americans are restless” after a survey found that 55% of adults “are moving, plan to move, or want to move” in 2024. The top reasons included: increased affordability; desire for safety; and closer proximity to work, family, or friends.3

If you’re one of those millions of Americans yearning for a change, this guide is for you.

Sure, moving can feel overwhelming, and it’s notoriously stressful. But, we’ve outlined six steps to make your move easier. Our hope is to alleviate some of the hassle of relocating—so you can focus on the adventure ahead!

1. CHOOSE A COMMUNITY

When planning a relocation, one of the first things you’ll need to decide is where you want to live. This could be as broad as an area of town, or you might narrow it down to a specific neighborhood.

Depending on your priorities, you may want to start with communities that are close to work, friends, family and/or your preferred schools. If you commute, map out the route and check on the availability of public transportation, if you plan to use it. Then, if possible, try out the commute during rush hour to see what it’s like.

Next, it’s crucial to consider housing prices and cost of living so you don’t set your sights on an area that you can’t realistically afford. Don’t forget to look up local crime statistics to ensure the community is safe. Finally, visit any neighborhoods you’re considering to gauge the vibe and observe characteristics, like pedestrian accessibility, retail offerings, and population density.

Researching the ins and outs of various communities can be a time-consuming and sometimes difficult process, but we’re here to help! Give us a call to discuss your needs and aspirations, and we’d be happy to provide our recommendations of neighborhoods that may be a good fit for you.

2. FIND YOUR NEW HOME

Once you’ve chosen an area to settle, the next decision you’ll need to make is whether you want to rent or buy a home. Renting can be a good option if you’re new to town, especially if you’re still saving up for a downpayment or you’re not ready to commit to a permanent location. Benefits include flexibility, less maintenance, and lower upfront costs.

But, if you want to avoid multiple moves—and you’re financially able—there’s no reason to delay the benefits of buying a home. Not only has homeownership been shown to increase your quality of life, but it’s also one of the best ways to protect and grow your wealth.4

The value of real estate will typically appreciate over time, and owners can build equity as they pay down their mortgage. Homeowners can also receive federal income tax deductions for mortgage interest and property taxes.

But, perhaps most importantly, homeownership offers stability. Property owners aren’t subject to the mercy of their landlords each year. According to Statista, average U.S. rental prices have risen more than 42% in the past 10 years.5 In contrast, a fixed-rate mortgage payment doesn’t rise at all.

If you decide to purchase a home and you choose us to represent you, you can rest easy knowing that we will be there for you throughout the entire journey, working hard to make the experience as easy and enjoyable as possible. Or, if you’re moving to a new area, we can refer you to a local agent in our network who shares our commitment to client service.

For more information about buying a home and a timeline of the home buying process, reach out to request a free copy of our Home Buyer’s Guide.

3. SELL OR RENT OUT YOUR CURRENT HOME

If you already own a home, you’ll also need to start the process of either selling it or renting it out. We can help you evaluate your options based on current market conditions.
In many cases, our clients choose to sell so that they can use the equity in their current home to make a downpayment on their next one. But selling your home while simultaneously buying a new one can feel daunting to even the most seasoned homeowner.

Here are some of the most frequent concerns we hear from clients and our tips for addressing them:

●      What will I do if I sell my house before I can buy a new one?

Check out furnished apartments, vacation rentals, and month-to-month leases. You may even find that a short-term rental arrangement can offer you an opportunity to get to know your new neighborhood better.

●      What if I get stuck with two mortgages at the same time?

Ask us about contingencies that can be included in your contracts. For example, it’s possible to add a contingency to your purchase offer that lets you cancel the contract if you haven't sold your previous home. We can discuss the pros and cons of these types of tactics and what’s realistic given the current market dynamics.

●      What if I mess up my timing or burn out from all the stress?

Enlist support as early as possible. It's our job to guide you and advocate on your behalf, so don't be afraid to lean on us throughout the process. We’re here to ease your burden and make your move as seamless and stress-free as possible.

In addition to answering your questions, we’ll give you an idea of how much equity you have in your current home so you know how much you can afford to spend on your new one. Part of that process will include a plan to maximize your current home’s sale price. We utilize a proven strategy that’s designed to achieve an efficient sale while boosting your profits.

For a thorough breakdown of the technologies and marketing activities we use to get you the most money for your home sale, ask us for a copy of our Property Marketing Plan.

4. PLAN YOUR DEPARTURE

Preparing for a move can be both exhilarating and exhausting. Fortunately, you don’t have to do everything in a day. You don’t have to do it all alone, either. When you work with us, we’ll be there every step of the way to help you navigate this process with ease. To that end, here are some of our top tips to help you plan for your departure.

If you have children, we typically advise that you start by sharing news about the move in an age-appropriate way. If possible, take them on a tour of your new home and neighborhood. This can alleviate some of the mystery and apprehension around the move. Don’t forget to contact their current and future schools, as well, to arrange for transfer and enrollment.

Next, you’ll want to start packing. To maintain order and make unpacking easier, we recommend packing one room at a time. Clearly label each box with its contents and the room it belongs to. And remember, there’s no use taking extraneous items with you. Use this opportunity to purge or donate possessions that you no longer need.

If you will be using a moving company, start researching and pricing your options. Make sure you’re working with a reputable service, and try to avoid paying a large deposit before your belongings are delivered. Once you have a moving date scheduled, you should arrange to have your utilities turned off or, if possible, transferred into the new homeowner’s name.

Finally, if you will be leaving friends or family behind, schedule get-togethers before your departure. The last days before moving can be incredibly hectic, so make sure you block off some time in advance for proper goodbyes.

Parting with a home and community you love can be hard, so try to stay focused on the exciting opportunities ahead. Feel free to reach out for referrals to moving companies, packing services, housekeepers, or any other resources that will make your move easier. We’d love to help.

5. PREPARE FOR YOUR ARRIVAL

While it’s tempting to get wrapped up in the departure details, don’t forget to plan ahead for your arrival at your new home. To make your transition go smoothly, you should start preparing well before moving day. Here are a few pro tips to help you get started.

First, think about the utilities that will need to be turned on, especially essentials like water, electricity, and gas. Be sure to notify any relevant parties—banks, credit cards, subscriptions, etc.—about your change of address so you don’t miss any important bills, notices, or deliveries. You’ll also want to notify the postal service and submit a mail forwarding request.

If you plan to remodel, paint, or install new flooring, it’s often easier to have it done before you bring in all of your belongings. You may also want to have the house professionally cleaned before moving in.

Don’t forget about the items you’ll need (think toothbrush, towels, bedsheets) to make it through the first night in your new home. Designate some boxes with “Open Me First!” labels. (Pro tip: Keep a tool kit front and center for all that reassembling.)

Finally, create a list of all the restaurants you want to try and places you want to visit around your newly purchased home. Having a to-explore list keeps everyone’s spirits high and gives you starting points to settle into the neighborhood. If you’re relocating to our area, we can help! Reach out for a list of recommendations.

6. GET SETTLED IN YOUR NEW SPACE

Studies show that moving can lead to feelings of loneliness and depression.6 However, there are ways to combat these negative effects. Here are a few strategies to help you and your family get settled in the new space.

If you have children, start by unpacking their rooms first. Seeing familiar items will help ease their transition and establish a “safe zone” where they can hang out away from the chaos of moving day. If possible, let them have a say in how their room is decorated.

Pets can also get overwhelmed by a new, unfamiliar space. Let them adjust to a single room first, which should include their favorite toys, treats, food and water bowl, and a litter box for cats. Once they seem comfortable, you can gradually introduce them to other rooms in the home.

Don’t forget to take care of yourself, too. Try to schedule breaks to get out of the house and investigate your new area. If you travel by foot or bicycle, you’ll gain the mood-boosting advantages of fresh air and exercise.

You can combat feelings of isolation by making an effort to meet people in your new community. Find a local interest group, take a class, join a place of worship, or volunteer for a cause. Don’t wait for friends to come knocking on your door. Instead, go out and find them.

To that end, make an effort to introduce yourself to your new neighbors, invite them over for coffee or dinner, and offer assistance when they need it. Once you’ve developed friendships and a support system within your new neighborhood, it will truly start to feel like home.

LET’S GET MOVING

While moving is never easy, these steps offer an action plan to get you started on your new adventure. With a little preparation—and the right team of professionals to assist you—it is possible to have a positive relocation experience.

We specialize in assisting home buyers and sellers with a seamless and “less-stress” relocation. Along with our referral network of moving companies, contractors, cleaning services, interior designers, and other home service providers, we can help take the hassle and headache out of your upcoming move. Give us a call or message us to schedule a free, no-obligation consultation!

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1.     Moving.com -
https://www.moving.com/tips/12-tips-for-moving-during-peak-moving-season/

2.     Moving.com -
https://www.moving.com/tips/moving-trends-predictions-for-2024/

3.     Architectural Digest -
https://www.architecturaldigest.com/reviews/moving/moving-trends-survey

4.     National Association of Realtors -
https://www.nar.realtor/infographics/the-benefits-of-homeownership

5.     Statista -
https://www.statista.com/statistics/200223/median-apartment-rent-in-the-us-since-1980/

Psychology Today -
https://www.psychologytoday.com/us/blog/is-where-you-belong/201607/why-youre-miserable-after-move

6 Strategies to Save on Home Insurance Premiums

From wildfires to floods, the past few years have brought a historic number of devastating climate and weather events to the United States. In 2023 alone, there were 28 individual weather-related disasters that caused at least $1 billion in damages each.1

These events triggered a huge influx of home insurance claims, and analysts expect the increase in both catastrophes and claims to continue. Adding to the problem, construction labor and supply costs have risen, making it more expensive to repair affected homes. Consequently, home insurance rates have surged: In 2024, Bankrate reports, premiums are already up an average of 23%, following double-digit increases the previous year.2,3

In disaster-prone regions, the situation is even more challenging. Some insurers have pulled out of risky areas entirely, and many of those that still offer policies in high-risk areas have doubled or even tripled their premiums.4

For most homeowners, comprehensive home insurance coverage is crucial for financial security—but massive rate increases can turn a once-affordable home into a financial burden. They can also pose a serious challenge for sellers. A home insurance policy is typically required to get a mortgage, and, in some hard-hit regions, we’re seeing sales fall through or homes sit on the market because insurance policies are unattainable or too expensive.5,6

But don’t panic! While these broader trends may be out of your control, there’s still plenty you can do to save. Here are our top six strategies to slash insurance premiums while maintaining the protection you need.

1. SHOP AROUND

Getting multiple quotes is a smart move for many major purchases, including home insurance. We recommend reviewing at least three estimates before you commit to a policy. You can get quotes either by reaching out to insurers directly or by working with an independent insurance broker.7 You’ll need to provide detailed information about the property you’re insuring and your claims history.

Make sure you read policies carefully before you choose. Sometimes, a policy can look like a better deal at first glance but turn out to have important coverage gaps. Be sure to consider how much the policy will pay out to repair or replace your home and review caps on personal possession and liability claims. It’s also smart to read reviews from policyholders (Trustpilot is a good place to start) and ratings published by organizations like the Better Business Bureau and J.D. Power.

For help choosing the right policy, reach out to us for a list of trusted insurance professionals.

1. INCREASE YOUR DEDUCTIBLE

The size of your deductible—which is the amount you pay before your insurance coverage kicks in on a claim—is a major factor in your insurance cost.

A low deductible, such as $500, comes with higher premiums, while a higher deductible, like $2,500 or even $5,000, costs less on a monthly basis. In some cases, you may be able to customize your coverage further by designating a different deductible for certain kinds of claims, such as those caused by named storms or natural disasters.

If you are confident that you have enough in savings to cover that initial outlay if needed, choosing a higher deductible can help you save significantly over the long term. According to Nerdwallet, raising your deductible from $1,000 to $2,500, for example, could save you an average of 11% each year.8

1. BUNDLE MULTIPLE TYPES OF INSURANCE

Insurers want to get as much of your business as possible, so most offer significant discounts if you bundle your home and auto insurance, meaning that you package the two policies together. With some insurers, you can get even higher savings by bundling more than home and auto—RV, boat, jewelry, and life insurance are potential options to consider.

According to US News and World Report, insurers typically offer customers who bundle home and auto insurance 10-25% savings on monthly premiums. This approach also has other advantages: It cuts down on your paperwork, and in some cases—like if a storm damages both your home and car—you may be able to pay just one deductible instead of two when you file a claim.9

However, before you sign on the dotted line, remember strategy #1 and be sure to shop around. In some cases, bundling isn’t the cheaper option, and bundling deals vary between companies. It’s also critical to carefully check that the bundled coverage offers everything you need.

1. ASK ABOUT AVAILABLE DISCOUNTS

Did you know that being a nonsmoker might qualify you for a home insurance discount?8 Some insurers offer some surprising incentives for policyholders who pose a statistically lower risk of filing a claim. In the case of nonsmokers, that’s because of the decreased risk of a home fire.

Many carriers also offer discounts to military-affiliated families, homeowners in certain professions, such as teachers or engineers, or recent homebuyers. Sometimes, you can also save by opting for paperless billing or paying your premiums for a full year upfront.10

Since available discounts vary significantly between insurers, the best strategy is to simply ask a representative for the full list of available discounts so you can see what cost savings might be available to you.

1. AVOID MAKING SMALL CLAIMS

Worried that your premiums will rise significantly in the future? Try to avoid making a claim unless truly necessary. Many insurers offer discounted rates to policyholders who go a certain number of years without filing a claim, and filing multiple claims typically results in large increases.10 If you file too many, you may even risk nonrenewal of your policy.11

Since the cost of even a small premium increase can add up significantly over time, if you have minor damage to your home—for example, if a few shingles blew off your roof in a windstorm—it may be a wiser long-term financial decision to pay out of pocket instead of filing a claim.

If the cost of the repair is less than your deductible, it never makes sense to file, and if it’s just slightly above your deductible, it’s also usually best to pay for the repairs yourself. Additionally, always be sure to review your policy before you make a claim. Even claims that are denied can count against you, so it’s not worth filing if the damage is clearly excluded from coverage.11

If you find yourself in this situation, feel free to reach out for a list of reasonably-priced professionals who can help with home repairs.

1. BE STRATEGIC ABOUT HOME IMPROVEMENTS

Insurance premiums alone may not be the deciding factor for a home improvement project, but it’s important to know how renovations could impact your rates—for better or worse.

For example, some upgrades and repairs can reduce your premiums by making your home safer or less prone to certain types of damage. These include:12

●      Upgrading your electrical system

●      Updating your plumbing

●      Installing a monitored security system

●      Adding a fire sprinkler system

●      Replacing the roof

On the other hand, some upgrades can raise premiums significantly, either because they increase the value of your home (and therefore the cost to replace it) or because they pose a hazard. These include:12

●      Installing a swimming pool or other water features

●      Building an extension or expanding your living space

●      Upgrading materials, like flooring or countertops

●      Adding a fireplace or woodstove

Whether or not your planned renovations are on either of these lists, it’s wise to inform your insurer about changes you make to your home—otherwise, you may risk gaps in coverage. And you’re always welcome to check with us before you begin any home improvement project to find out how it could impact the value and resale potential of your home.

BOTTOMLINE: Protect Your Investment Without Sacrificing Enjoyment of Your Home

Getting the coverage you need for financial security without overpaying can be a tricky balance, especially in today’s environment. But remember, while it’s important to find the best deal you can, home insurance isn’t an area to skimp on.

For advice on your specific risks and the type of coverage you need, we recommend consulting with a knowledgeable insurance professional. We’re happy to connect you with a trusted adviser in our network. And if you’re considering a home renovation, feel free to reach out for a free consultation on how it might affect your property value (and your premiums).

The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, insurance, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1.     Climate.gov -
https://www.climate.gov/news-features/blogs/beyond-data/2023-historic-year-us-billion-dollar-weather-and-climate-disasters

2.     Bankrate -

https://www.bankrate.com/insurance/homeowners-insurance/homeowners-insurance-cost/

3.     Policygenius -
https://www.policygenius.com/homeowners-insurance/home-insurance-pricing-report-2023/

4.     CNN -

https://www.cnn.com/2023/09/20/business/insurance-price-increase-risk-climate-first-street-dg/index.html

5.     BBC -

https://www.bbc.com/news/business-66367224

6.     US News -

https://realestate.usnews.com/real-estate/articles/how-climate-change-could-impact-your-home-value

7.     Nerdwallet -

https://www.nerdwallet.com/article/insurance/how-to-shop-for-homeowners-insurance

8.     Nerdwallet -

https://www.nerdwallet.com/article/insurance/save-on-homeowners-insurance

9.     US News and World Report -

https://www.usnews.com/insurance/homeowners-insurance/how-to-bundle-home-and-auto-insurance

10.   Marketwatch -

https://www.marketwatch.com/guides/insurance-services/how-to-save-on-homeowners-insurance/

11.   Bankrate -

https://www.bankrate.com/insurance/homeowners-insurance/when-to-file-a-home-insurance-claim/#when

12.   Bankrate -

https://www.bankrate.com/insurance/homeowners-insurance/home-insurance-and-renovations/ 

Unveiling the Impact of the NAR Settlement: Key Changes Explained

On March 15, 2024 The NAR agreed to settle a lawsuit that will impact how real estate business is conducted. While the results of the NAR settlement have yet to be approved, its impact will change the way real estate business is conducted and how consumers purchase real estate.

Many details have yet to be revealed, but we do know a real estate transaction using Realtors will look a little different. Realtors will still be required to represent their clients as a fiduciary agent honestly & ethically. Realtors & their clients will still arrive at the same destination of a real estate sale, but the route will be a little different.

There are two major procedural changes that will affect how business is transacted:

1) Commissions will be de-coupled: The traditional method of the seller paying the Listing Broker who then paid the buyer's broker will be prohibited. Instead, the seller(s) will still pay the Listing Broker, but they have the choice how much to pay the Buyer's Broker. Commission paid has always been negotiable and now the seller has more of a say in payout to the Buyer's broker.

2) Buyer's Exclusive Agency Agreement will be mandatory: Team Bober has used Buyer Loyalty Agreements to represent our buyer clients. Now, a Buyer Agency Agreement will be mandatory for buyers to be represented by a Realtor. This contractual agreement will establish a fiduciary Buyer's Agency relationship and compensation.

The be 100% clear: these changes have to ba officially approved and are set to become mandatory on July 1, 2024. Until them we will continue to serve our clients and Team Bober is committed to Educating and Empowering our Clients and Serving them with Authentic Hospitality. We will adjust to any changes made without compromising our Service.

Stay tuned in as we continue to learn more and will reveal updates any changes as they become available.

Team Bober's Mission is to Build Relationships by Providing Excellent Service to Exceed their Client's Expectations. They do this by Educating & Empowering their clients, Serving them with Authentic Hospitality for Client First Representation.

As the Real Estate Market Shifts we are updating the following systems to better serve our clients:

- Listing System

- VIP Buyer Program

- Estate & Family Transition Services (NEW)

- New Construction

- Land Division (NEW)

We are always looking ahead and never just keeping the status quo. This Shift will provide tons of opportunities for our clients and we are working diligently to be ready to serve our clients, in any market!

A Shifting Real Estate Market is always a challenge for consumers. Luckily, we have 20+ years of combined experience to serve our clients. So be sure to call a trusted and experienced Realtor (Like Team Bober) when you have any real estate needs. We are never too busy for you or your referrals.

STILL HAVE QUESTIONS? WE HAVE ANSWERS

While economic indicators and trends are national, real estate is local. We’re here to answer your questions and help you understand what’s happening in your neighborhood. Reach out to learn how these larger movements affect our local market and your home’s value

🤔Thinking of Buying or Selling a home in the Omaha, NE area? Let's Talk!🏡

💥 Search for Omaha Homes For sale at www.teambober.com💥

👇 CONTACT INFO👇

Chris Bober

Team Bober Nebraska Realty

📞C:402.312.5076

📧chris@nebraskarealty.com

🖥teambober.com

👇Lets Connect👇

Facebook: https://www.facebook.com/TeamBober/

Instagram: https://www.instagram.com/teambober

Twitter: https://twitter.com/chrisbober

Call us at (402) 312-5076 if you know of anyone needing to buy or sell a house.

***TEAM BOBER LISTING SYSTEM:

https://www.teambober.com/sell​​​

***TEAM BOBER VIP BUYER PROGRAM:

https://www.teambober.com/buy​​​

***TEAM BOBER 8 WEEK MARKETING PLAN:

https://www.teambober.com/8-week-mark...

** TEAM BOBER CLIENT WELCOME KIT **

https://www.teambober.com/client-welc...

***TEAM BOBER AUCTION SYSTEM:

https://www.teambober.com/auction​​​

**Videos You May Also Enjoy**

How to Market Your Home:

https://www.youtube.com/watch?v=G90Nh... ​​​

Preparing Your Home for Sale:

https://www.youtube.com/watch?v=fuqmM...

Real Estate Pricing Strategies:

https://www.youtube.com/watch?v=5Jn0h...

Say hello and follow me here:

Website: www.TeamBober.com

Blog: http://teambober.com/blog

Any questions? direct message me, phone or text me at (402) 312-5076, or email me at Chris@NebraskaRealty.com

__

Team Bober was started by Chris Bober shortly after he joined Nebraska Realty in 2013. Chris is an 8 year NFL veteran who's commitment to excellence and tireless work ethic are used to serve his clients with a servants spirit. In 2016 he was joined by his wife, Jennifer, and together they serve their clients as a team. Chris and Jen are dedicated to providing the highest service to our clients the help them achieve their real estate dreams.

Downsize Your Home, Rightsize Your Life: How to Choose the Ideal Smaller Home

When you've lived somewhere for many years, it can be tough to say goodbye. But if you (or a loved one) currently have a home that is bigger than necessary or is too high maintenance, it may be time to trade unused square footage for a smaller, more manageable space.

Take it from the downsizers who’ve been there: Although living small might require some adjustments, it can also be liberating––especially if you're in a stage of life where past responsibilities have given way to new possibilities and adventures. 

In fact, many downsizers report feeling invigorated by the change, according to real estate journalist and author Sheri Koones. “It scares people to think of moving into a smaller space,” said Koones to the Associated Press. “But every single person I interviewed who has made the transition says they are so happy they did.”1

The key is to find somewhere you can live well and move around comfortably, without feeling overly restricted. If you like the idea of aging in place or are already in your golden years, you may also want to look for signs that a new home can conveniently age with you.

With that in mind, we recommend focusing your search around three key factors: desired lifestyle, optimal design, and long-term accessibility. Read on for specific tips, then call us for a free consultation. We can help you identify the types of homes that are best suited to living large with less.

Do you have a loved one whose housing needs have changed?
Share this information to help start a conversation about the benefits of downsizing.

DESIRED LIFESTYLE

The best part of downsizing is the lifestyle you unlock when you trade square footage for convenience. With fewer chores and home maintenance tasks to worry about, you can instead channel your energy into other pursuits.

For example, instead of spending your afternoons working in the yard or cleaning, you can catch up on the news, read a bestseller, start a new craft project, or pursue other hobbies. You may even be able to travel or spend more time with friends and family.

Research shows that individuals over the age of 65 report more life satisfaction when they have the opportunity to spend time around children, talk with friends, socialize in community centers, volunteer, or engage in hobbies. But that can be hard to do regularly when you've got a home that needs constant attention or you live far from your community.2

As you compare potential homes, keep in mind the type of lifestyle you envision. Do you plan to travel? If so, a home with extra security, such as a condominium or gated community, may give you some welcome peace of mind. Or do you plan to have friends and family stay overnight? In that case, you may want to look for a floor plan with flex space or a property that has access to separate guest suites.

Alternatively, a senior community that offers catered meals and housekeeping may be a better choice if you or a spouse need extra support.

Action item: Grab a pen and take some time to envision what your ideal future might look like. Write down the activities and hobbies you hope to add to your life or continue with going forward, as well as the chores and responsibilities you'd love to drop. We can use those answers to help shape your house hunt.

OPTIMAL DESIGN

Even though your new home will be smaller, that doesn't mean it has to feel cramped. As Koones explains, “The key is to have a home that is efficiently designed, both in terms of energy use and in terms of space.”1

Look for features that can help make a space feel bigger, like high ceilings, large windows, and an open layout.

Built-in shelving that extends all the way to the ceiling can also make a small room feel more expansive by helping to draw the eye upward. The same goes for highly placed window treatments and striped or mural-style wallpaper, says interior designer, Kati Greene Curtis. “You’ll feel like you’re walking into the scene,” said Curtis to the Washington Post.3

Efficient layouts with flexible, multi-purpose rooms and few, if any, hallways work especially well for small-scale living. You can also limit dead space in a home by steering clear of layouts with awkward corners, unusable nooks, and other space-eating design elements.

In addition, look for features that support a simpler, lower-maintenance lifestyle, such as easy-care floors, durable countertops, and bare walls with little, if any, crown molding.

Don’t write off a home too soon, though, if it feels narrow or congested because of outdated design or poor staging. Cosmetic issues that visually shrink a space are often easy to fix.

For example, you can instantly make a room feel bigger just by painting it a lighter shade. Adding mirrors and swapping out heavy curtains for sheer ones can also be effective. Plus, utilizing multipurpose furniture with hidden storage is a great way to maximize space.

Action item: Make a note of your must-keep furniture and other items. Then pull out a measuring tape and write down the dimensions. Once it's time to visit homes, we'll have a more accurate sense of what will fit and how much space you’ll need.

To get your creative juices flowing, you may also want to flip through some design magazines that specialize in compact living or catalogs that feature space-saving furniture and accessories. If you give us a list of your favorite features, we can use it to pinpoint homes that are a good match.

LONG-TERM ACCESSIBILITY

Buying a home that you can age well in can be a great way to boost your health prospects and happiness. According to the U.S. Department of Housing and Urban Development (HUD), homeowners who age in place instead of in an institutional environment not only save money over time, they also enjoy greater health and emotional benefits.4

Aging in place is also popular. According to survey findings from the National Poll on Healthy Aging, the vast majority of adults between the ages of 50 and 80 would prefer to age in their own homes.5

But even though many adults want to age in place, only 34% of surveyed adults currently live in a home with the features to make it possible.5

If you're already in the second half of your life, then it's smart to prioritize accessibility now, even if you're highly mobile.

Choosing an accessible home will improve your odds of staying put for longer. Plus, you never know when you might need an accessible light switch, handrails in the bathroom, or a seat in the shower, says Sheri Koones. “Yes, older people with disabilities need them, but even younger people break a leg skiing, or have situations where they want a barrier-free shower.”1 

As you consider your options, try to imagine what your needs might be as you get older and be proactive in identifying potential obstacles, recommends the National Council on Aging (NCOA).6

For example, a single-level home or one with wide enough stairs for a stair lift or access to an elevator may be a more practical choice than a home with lots of narrow stairs. Alternatively, a home with at least one ground-level bedroom and bathroom may also work well for you.

Consider your needs outside the home, as well: If you frequently visit the doctor, grocery store, or community center, for example, then you may benefit from choosing a property nearby.

Action item: Review the checklist below, adapted from the National Institute on Aging’s home safety worksheet, or download the full version from the agency’s website.7 Highlight the items that are most important to you. We can reference these guidelines as we consider potential homes and suggest ways to adapt a property to meet your current or future requirements.

HOME SAFETY CHECKLIST 7

●      If a walker or wheelchair is needed, can the entrances to the house be modified — perhaps by putting in a ramp to the front door?

●      Are there any tripping hazards at exterior entrances or inside the house?

●      Are the hallways and doorways wide enough to accommodate a wheelchair if needed?

●      Does the home have at least one ground-floor bedroom and bathroom?

●      Are there any staircases, and if so, could they accommodate a stair lift?

●      Is the house well-lit, inside and out, particularly at the top and bottom of stairs?

●      Could handrails be installed on both sides of the staircase?

●      Is there at least one stairway handrail that extends beyond the first and last steps on each flight of stairs?

●      Are outdoor steps sturdy and textured to prevent falls in wet or icy weather?

●      Are there grab bars near toilets and in the tub or shower?

●      Have a shower stool and hand-held shower head been installed to make bathing easier?

●      Is the water heater set at 120° F to avoid scalding tap water?

●      Are there safety knobs and an automatic shut-off switch on the stove?

●      Have smoke and carbon monoxide alarms been installed near the kitchen and in all bedrooms?

●      Are there secure locks on all outside doors and windows?

BOTTOMLINE

You don't have to compromise on comfort to downsize successfully. We can help you strategize your next move and identify the best new home for you—whether that's a smaller home for rent or another one to call your own. We take pride in offering a full-service real estate experience and assisting our clients through all stages of the real estate journey. And we’ll go the extra mile to maximize your current home's sales price so that you’re set up for financial security.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1.     Associated Press (AP) -
https://apnews.com/article/lifestyle-f094372b46bae82020c174907eb953c0

2.     Healthcare (Basel) -
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10671417/

3.     Washington Post -
https://www.washingtonpost.com/home/2023/02/07/make-small-room-appear-larger/

4.     HUD User -
https://www.huduser.gov/portal/periodicals/em/fall13/highlight2.html

5.     National Poll on Healthy Aging - https://www.healthyagingpoll.org/reports-more/report/older-adults-preparedness-age-place

6.     National Council on Aging (NCOA) - https://www.ncoa.org/adviser/medical-alert-systems/downsizing-for-aging-in-place/

7.     National Institute of Health (NIH)  - https://www.nia.nih.gov/sites/default/files/2023-04/worksheet-home-safety-checklist_1.pdf

Upgrade Your Home With These 2024 Design Trends

One of the best parts of owning a home is the freedom to make it truly your own with design choices that reflect your personality and lifestyle. Whether you lean toward contemporary design or a farmhouse aesthetic, your home is your canvas.

Even so, it’s always smart to think about the long-term impact those decisions might have on your home’s value. Choosing over-personalized or unpopular materials and finishes could make your home less appealing to future buyers. And selecting out-of-style or overly-trendy elements could cause your home to feel dated quickly.

To help inspire your design choices, we’ve rounded up some of the top trends we’re watching in 2024. Keep in mind, not all of these will work well in every house. If you plan to list or renovate your property, give us a call. We can help you realize your vision and maximize the impact of your investment.

1. Spa-Like Bathrooms

We could all use a little more relaxation in our lives—so why not bring the spa into your home? In 2024, more homeowners will remodel their bathrooms to turn them into personal oases.1,2

If you’re undertaking a renovation, consider upgrading fixtures and materials. Handmade tile and custom cabinetry can add a touch of style and luxury. Trade stark whites for warm neutrals to create a more relaxed feel—think light wood tones, creams, and beiges.3 Complete the look with soft ambient lighting from a backlit mirror or pair of decorative sconces.2,3

If you want to maximize the mind-body benefits of a relaxing bathroom (and have the budget to spare), you might consider installing a steam shower, infrared sauna, or cold plunge tub.3 Not looking to spend as much? Even minor upgrades like a massaging showerhead or heated towel bar can add some pampering to your morning routine.3

But remember, if you’re modifying your bathroom, it’s always wise to work with experienced and licensed professionals to avoid water damage that could lead to costly repairs. We can refer you to a trusted contractor for help.

1. Maximalist Decor

In 2024, maximalism is back in vogue, contrasting the neutral aesthetic that dominated design in recent years. While maximalism can be summed up as “more is more,” there’s nothing sloppy or cluttered about this look. Instead, it’s all about intentional curation.4

Hallmarks of maximalist style include rich and saturated colors, bold wallpaper, statement rugs and furniture, and lots of art. And forget matching—maximalist interiors often include plenty of contrasting colors, textures, and patterns selected to complement one another.4

If you’re trying to embrace maximalism on a budget, check out thrift stores. They’re often a great place to find unique furniture, colorful rugs, and interesting art or collectibles. Before you invest in rolls of vintage wallpaper, though, it’s important to note—if you plan to sell your home in the near future, the maximalist look won’t appeal to every buyer.

We typically advise sellers to remove clutter and personal items to help buyers imagine their own future lives within the home. Sometimes, that means repainting or redecorating in a more neutral palette. Of course, this shouldn’t stop you from embracing your own style now—just be aware that you may need to walk back your aesthetic prior to selling. We can advise you when the time comes.

1. Japandi Style

Not quite ready to embrace maximalism? Japandi style, which blends Japanese and Scandinavian influences, offers a more subdued approach that still has plenty of character. The look dates back about 150 years to a time when many Scandinavian designers were traveling to Japan for inspiration.5

Japandi style brings together clean lines, simplicity, and a focus on natural elements and light. It emphasizes the beauty in imperfection, or “wabi sabi,” and a deep connection to Mother Earth. And like Scandinavian decor, the look prioritizes comfort and a sense of sanctuary in the home.5

Interested in playing with Japandi? Common features include calming color palettes and organic materials like raw wood and bamboo. Try softening harsh edges with softer textures, like cozy blankets and ceramic pieces.

The look also minimizes clutter, but that doesn’t mean you need to be a minimalist. Instead, Japandi style embraces storage solutions like baskets, folding screens, and sofas with built-in storage to give everything a place.6 If you’d like some help implementing Japandi-style organization in your home, contact us for a list of recommended professionals.

1. Mixed Metals

Mixing metals used to be a “no-no.” But in 2024, it’s definitely a “yes.”

According to designers, mixing the colors and finishes of metal fixtures and hardware can bring visual interest to a room—as long as you go about it the right way.1,7

The most important rule to keep in mind is to stay away from near matches, like brass and gold—that’s more likely to look accidental than intentional. Instead, go for bold contrast: Think polished nickel and matte black.7

Some designers recommend using each metal at least twice in a room to make it look cohesive. Another good rule of thumb is to stick to two types of metals in a small room and two to three in a larger space.7

Finally, you might think about playing with undertones (brass is warm, chrome is cool) to change the “temperature” of a room. And don’t be afraid of a little shine—many designers predict that a retro, high-polished look will replace matte finishes in 2024.8

Want some help sourcing fixtures and hardware in a variety of finishes? Reach out for a list of our favorite retailers.

1. Wood Cabinetry And Accents

The all-white kitchen has been ubiquitous in recent years. But in 2024, classic wood cabinetry is back in a big way.9 In fact, industry professionals surveyed by the National Kitchen & Bath Association predict that wood cabinets will be more popular than white in the next three years.10

Natural wood tones offer a sense of warmth and natural beauty.11 And today’s cabinets aren’t anything like the heavy, dated versions of the past. Instead, light to medium versions—like white oak and walnut—and warmer undertones are trending.9

The addition of wood-grain accents to painted kitchen cabinets—like with a contrasting island or range hood—is another popular option.12  And wood continues to be a favored choice for flooring. A recent survey found that 40% of homeowners opted for either hardwood or engineered wood when renovating their kitchen floors.13

You can also expect to see more wood in bathrooms in 2024. According to Houzz, last year, wood vanities surpassed white in popularity for the first time in recent years, and designers expect the trend to continue.12 While white countertops and walls still dominate bathrooms, a wood-grained vanity brings a relaxed, organic element into the space.

Dreaming about new cabinets or hardwood floors? We’d be happy to share a list of recommended trade professionals who can help.

1. Timeless Renovations

In its latest Kitchen Trends Study, Houzz found that “nearly half of homeowners (47%) opt for a timeless design as a sustainable choice during renovations.” Respondents cited long-term cost effectiveness and environmental consciousness as their main motivators.14

In a rapidly changing, technology-driven world, it’s no surprise that homeowners want a nurturing space with lasting appeal—especially if they plan to stay in their homes for years to come.12

Traditional materials and quality craftsmanship lie at the core of timeless design, which some designers are calling “quiet luxury.”15 Think of enduring classics, like hardwood floors, hand-crafted tiles, and marble countertops.12 A timeless color palette will also often include warm neutrals and muted shades of blue and green.15

If you’re thinking about remodeling, it’s wise to incorporate as many classic elements as you can. These stylistic choices tend to hold up well over time, which can prolong the life of your investment and make it easier to sell your home down the road. If you’d like advice on an upcoming project, contact us for a free consultation.

BEAUTIFY YOUR HOME WHILE BOOSTING ITS VALUE

If you’re thinking about making design changes—whether that’s repainting or a full remodel—it’s important to be informed about how your choices could impact your home’s resale potential. Buyer preferences can vary significantly based on your home’s neighborhood and price point. Before you begin your project, reach out to discuss your plans and how they could impact the value of your home.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1.     HGTV - 
https://www.hgtv.com/design/decorating/design-101/2024-home-and-garden-design-trends

2.     The Spruce -
https://www.thespruce.com/2024-design-trends-8411457

3.     The Spruce -
https://www.thespruce.com/2024-bathroom-design-trends-8380169

4.     Homes and Gardens -
https://www.homesandgardens.com/interior-design/maximalist-decor-ideas

5.     The Spruce -
https://www.thespruce.com/japandi-design-4782478

6.     House Beautiful -
https://www.housebeautiful.com/room-decorating/a45851530/japandi-interior-design-style/

7.     The Spruce - https://www.thespruce.com/4-rules-designers-say-you-should-follow-or-ignore-when-mixing-metals-in-a-room-5199031

8.     The Spruce -
https://www.thespruce.com/2024-lighting-trends-8365056

9.     Good Housekeeping -
https://www.goodhousekeeping.com/home/decorating-ideas/a45576463/wood-kitchen-cabinet-trend-2023/

10.   Better Homes and Gardens -
https://www.bhg.com/2024-kitchen-trends-840656

11.   Real Simple -
https://www.realsimple.com/2024-kitchen-cabinet-trends-masterbrand-7974600

12.   Houzz -
https://www.houzz.com/magazine/28-home-design-trends-that-will-define-2024-stsetivw-vs~172317389

13.   Houzz -
https://www.houzz.com/magazine/10-kitchen-trends-to-watch-in-layouts-features-and-more-stsetivw-vs~165050822

14.   Houzz -
https://www.houzz.com/magazine/2023-u-s-houzz-kitchen-trends-study-stsetivw-vs~164970160

15.   Better Homes and Gardens -
https://www.bhg.com/quiet-luxury-home-trend-7554026

Real Estate Market Forecast: Opportunities for Home Buyers and Sellers in 2024

A growing share of home buyers and sellers sat on the sidelines last year as the pace of home sales continued its downward trajectory.1 In fact, since the Federal Reserve began its series of interest rate hikes in 2022, the combination of higher borrowing costs and record-high home prices has fostered the steepest real estate market slowdown since the 2008 recession.2

Priced out of the market, a generation of would-be buyers has been forced to delay their plans for homeownership.3  At the same time, current owners—reluctant to give up their pandemic-era mortgage rates—are waiting to sell, which has resulted in a sharp drop in listings.4

But there may be some relief in sight: In December, the Fed signaled that it was done raising interest rates—and suggested that it could cut rates by 0.75% over the coming year. While mortgages don’t directly follow the federal funds rate, they typically move in tandem—so cheaper home loans may finally be on the horizon.5

Lower mortgage rates should bring some much-needed movement back into the real estate sector. But with a market this fluid, the home buyers and sellers with an edge will be those who proactively leverage a real estate agent’s on-the-ground expertise and stay flexible so that they can quickly adapt to changes.

What does that mean for you? Read on to learn more about the current state of the U.S. housing market, the potential opportunities for buyers and sellers, and economists’ predictions for the year ahead.

HOME PRICES WILL REMAIN RELATIVELY STABLE

Not even 8% mortgage rates could bring home prices crashing down in 2023, as some prospective home buyers may have hoped. In fact, on average, U.S. property values ended the year higher—with declines in some areas of the country offset by appreciation in others.6

Prices typically fall when rising interest rates drive down demand. So what’s keeping home values high?

Mike Simonsen at Altos Research points to a nationwide housing shortage: “Declining home prices probably require that supply-and-demand imbalance, and what we have is really a balance. There's a balance between low demand and low supply.”7

Analysts expect that equilibrium to continue to prop up home prices in 2024, although the specific forecasts vary. For example, economists at Realtor.com predict that the median home price will fall slightly, by 1.7%, while those at Fannie Mae project modest price growth of 2.8%.6,8

However, experts widely agree: Mortgage rates will be the largest driver of property values. If rates fall faster than expected, more buyers will enter the market—which could send home prices soaring higher.

What does it mean for you?  There’s no evidence that home prices are headed for a major decline. So if you’re ready and able to afford a home, this is a great time to test the waters. The best bargains are often found in a slower market, like the one we’re experiencing right now. Contact us to discuss your goals and budget. We can help you make an informed decision about the right time to buy.

And if you’ve been waiting to sell your home, this could be your year. Price growth has slowed, so now is the time to maximize your equity gains while minimizing your competition. Contact us for recommendations and to find out what your home could sell for in today’s market.

MORTGAGE RATES SHOULD FINALLY TREND DOWN

The best news we've got incoming for 2024? The extra-high mortgage rates that have weighed heavily on the real estate market may finally be headed south.

At its December meeting, the Fed signaled that the worst is likely behind us and that it expects to cut its overnight rate in 2024. Analysts predict that mortgage rates will fall in lockstep.5

“Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year,” said Freddie Mac’s Chief Economist Sam Khater following the announcement.9

The average 30-year fixed mortgage rate has already declined from an October high of around 8%, and analysts at Fannie Mae, the Mortgage Bankers Association, and Realtor.com all forecast that rates will trend down this year, ending 2024 closer to 6%.7

However, it’s not all good news: It appears that the days of 3% mortgage rates are firmly behind us. “As long as the economy continues to motor along, the new normal of higher rates is here to stay,” explains Greg McBride, chief financial analyst for Bankrate.4 So, when it comes to a home loan, borrowers may need to adjust their expectations.

What does it mean for you?  If you're a prospective home buyer, declining mortgage rates could give you the opportunity to lock in a more affordable monthly payment. And if you purchase before the market reheats, you could secure an especially good deal. To find the lowest rate, it pays to compare lenders. Ask us to refer you to a mortgage broker who can help you shop around for the best option.

Sellers also have reason to celebrate buyers' lower interest rates: As the barriers to entry to the housing market decline, they could enjoy more or better offers. Reach out to discuss how we can help you maximize your home’s sales potential.

LOWER RATES WILL BRING SOME BUYERS AND SELLERS BACK TO THE MARKET

Over the past couple of years, higher mortgage rates have cooled home buyer demand. They’ve also delayed the plans of many home sellers, who have been reluctant to trade in their current mortgages for loans that are several points higher.

With so many market participants playing the waiting game, the real estate sector has slowed significantly. National Association of Realtors (NAR) Chief Economist Lawrence Yun estimates that the number of existing home sales fell by 18% last year following a 17% decline in 2022.10

However, as financing costs tick down, sales volume is expected to rise. “Lower mortgage rates would help spur home sales activity, which [is] expected to increase in 2024 compared to 2023,” explains Selma Hepp, chief economist at CoreLogic. “Declines in mortgage rates will drive more sellers to trade their existing home and help add much-needed inventory to the market, leading to more transactions.”4

There’s also evidence that the patience of holdout home buyers may be waning, despite higher borrowing costs. A recent survey by Bank of America found that the number who are willing to wait for prices or mortgage rates to decline before making a purchase fell from 85% to 62% in just six months.11

“When it comes down to it, if buying a home is your goal and within your budget, the best time to buy is when you're ready financially and you can find a home that fits your needs,” Matt Vernon, head of consumer lending at Bank of America, advised in a recent release. “Even in the current interest rate environment, there are clear benefits to purchasing a home and beginning to build equity.”11

What does it mean for you?  If you’ve been waiting to buy a home, you might want to consider purchasing before the competition picks up. Pent-up demand could bring a flood of buyers back into the market as mortgage rates decline. Contact us if you’re ready to begin your home search.

If you’re hoping to sell this year, you may also want to act fast. An increase in listings will make it harder for your home to stand out. We can help you chart the best course to maximize your profits, starting with a professional assessment of your home’s current market value. Reach out to schedule a free consultation.

THE HOUSING SUPPLY SHORTAGE WILL PERSIST

Will home buyers who are eager for options have more homes to choose from this year?

Yun thinks so. He believes sellers will soon grow weary of waiting to list. “Pent-up sellers cannot wait any longer. People will begin to say, ‘life goes on,’” the NAR economist speculated at a November conference. “Listings will steadily show up, and new home sales will continue to do well.”10

But not everyone agrees. Economists at Realtor.com forecast that inventory could drop by as much as 14% this year. The decline in existing homes for sale has been compounded by a persistent shortage of new construction, with single-family housing starts falling 10.3% in 2023 and 11.2% in 2022.6

Even so, newly-built homes are playing an increased role in easing the supply crunch, accounting for around one-third of all homes for sale in 2023—which was twice the historical average.12 But new construction alone isn’t expected to fill the inventory gap.

According to First American Financial Corporation’s Chief Economist Mark Fleming, the U.S. currently has a shortfall of around one million homes, and conditions won’t ease until individual owners re-enter the market. “Only when more homeowners decide to sell, and then buy again, will housing supply and the pace of sales return to anything resembling normal.”13

​​What does it mean for you?  Inventory remains tight, but buyers can benefit from the search expertise of a real estate professional. We can tap our extensive network to access off-market and pre-market listings while helping you explore both new construction and existing homes in our area.

While sellers will continue to benefit from the low-inventory environment, they should be prepared to compete against brand-new homes. We can help you prep your property for the market and highlight the features most likely to appeal to today’s buyers.

WE'RE HERE TO GUIDE YOU

While national real estate forecasts can give you a “big picture” outlook, real estate is local. And as local market experts, we know what's most likely to impact sales and drive home values in your neighborhood. As a trusted partner in your real estate journey, we'll keep our ears to the ground so that we can guide you through the market's twists and turns.

If you’re considering buying or selling a home in 2024, contact us now to schedule a free consultation. Let’s work together and craft an action plan to meet your real estate goals.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1.     CNN -
https://www.cnn.com/2023/10/19/homes/existing-home-sales-september/index.html

2.     Goldman Sachs -
https://www.gspublishing.com/content/research/en/reports/2023/10/23/2d814362-a656-4cb3-8586-bea8591188e3.html

3.     ABC News -
https://abcnews.go.com/US/millennials-priced-homeownership-feeling-pressure/story?id=105032436

4.     Bankrate -
https://www.bankrate.com/real-estate/housing-market-2024/

5.     CBS News -
https://www.cbsnews.com/news/interest-rates-are-paused-heres-why-thats-good-news-for-homebuyers/

6.     Realtor.com -
https://www.realtor.com/research/2024-national-housing-forecast

7.     NerdWallet -
https://www.nerdwallet.com/article/mortgages/2024-homebuying-trends-property-line-november-2023

8.     Fast Company -
https://www.fastcompany.com/90991612/home-price-2024-outlook-fannie-mae

9.     Freddie Mac -
https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-drop-below-seven-percent

10.   National Association of Realtors -
https://www.nar.realtor/newsroom/nar-chief-economist-lawrence-yun-forecasts-existing-home-sales-will-rise-by-15-percent-next-year

11.   Bank of America -
https://newsroom.bankofamerica.com/content/newsroom/press-releases/2023/12/bofa-report-shows-fewer-prospective-homebuyers-willing-to-wait-f.html

12.   Marketplace -
https://www.marketplace.org/2023/11/27/mortgage-rates-new-home-sales/

13.   First American -
https://blog.firstam.com/economics/whats-the-outlook-for-the-housing-market-in-2024