If you are looking for something different, check out this post we came across on Realtor.com, “For Kids and Grownups: 24 Unique Gifts Ideas for the Bedroom.” The post is broken down by ages, and different areas of the bedroom, particularly the master suite. These gifts will help the recipient style their space. 

We read through and below are some great ideas we pulled, but take a look for yourself. You may just find the perfect gift; the one you’ve been looking for! 

For adults:

• Cozy throw blanket or pillows
• Pitcher and glass for the bedside table
• Trendy bedside light
• Hand lotion
• Jewelry box
• Scented candle (we love the idea of shopping for candles poured locally for this one!)

For kids:

• Weighted blanket
• Bedside dream machine
• Lounge chair for the play area
• Printer
• Fun LED lights
• Shoe storage

Photo by Christopher Jolly on Unsplash

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A Realtor.com post from October 16th titled, “10 Things Most Homebuyers Get Wrong About Getting a Mortgage Today,” looks at common mistakes and provides insight to help home buyers navigate this process. 

1. Focusing too much on the interest rate.
   Be sure you understand any fees that could go along with the rate you’ve secured.
2. Assuming you need a 20% down payment.
   You can put down less, but will need to factor in private mortgage insurance.
3. Assuming you can get a loan instantly.
   There are applications, phone calls, document collection to consider… It takes time.
4. Thinking pre-qualification means you are approved for the loan.
   Pre-approval is more valuable, as it shows the lender has looked at your finances.
5. Not considering first-time homebuyer programs.
   Explore these options, and how they help free up savings.
6. Failing to check your credit score.
   Knowing your score before speaking with a lender is key.
7. Picking the wrong type of loan.
   There are pros and cons to each, do some reading to get a basic understanding.
8. Understanding fees beyond the down payment.
   Yes there are other fees when buying a home, i.e. closing costs, title, transfer taxes, etc.
9. Not preparing for the possibility of a low appraisal.
   With high listing prices this is a reality. Another recent post covered ways to deal with a low appraisal; ultimately you’ll want to consider what you are comfortable paying when making an offer.
10. Not shopping around for the right lender.
    Reliability is key, especially in today’s market when getting a response from a lender so you can make an offer is top priority. 

Bottomline if you want to avoid these common missteps that can trip up first time home buyers, or really anyone looking to buy a home in today’s market; understand your options, do your research and have a team of local professionals on your side.

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If you are in the process of or preparing to buy a home, you’ll want to read this post from realtor.com, “Home Buyers’ 7 Biggest Regrets: How Many Will Haunt You?,” and heed the warnings of home buyers that have come before you. In the post, they share seven tales that feature stories of home buying remorse.

#1. Putting off house hunting until the last minute

#2. Overlooking schools, even if you don’t have kids

#3. Caving to a seller’s every demand

#4. Buying too big

#5. Overlooking small details

#6. Skimping on the number of bedrooms you actually need

#7. Underestimating walkability

Remember these stories when searching for your next home, or first home. No matter the market, you’ll want to make sure you end up with a treat; rather than the trick of regrets.

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Moving can be stressful, a fact that everyone understands; but what is the effect of a move on pets? Sure they aren’t helping pack their toys and store their beds until move-in day, however, they are still affected by the energy and chaos a move brings. So how can you make a time of transition as safe and easy as possible for your pets? For some helpful tips, we turned to the ASPCA (American Society for the Prevention of Cruelty to Animals®), an organization that specializes in the respectful treatment of animals. 

In a pet care post, they cover this very topic. While this article is focused on furry friends, cats and dogs, some of the tips could apply to any beloved animal. The ASPCA suggests the following:

Packing up your home: Bring in moving boxes early so your pet considers them part of the space; and save their favorite room or spot to pack last. This will ensure they are as comfortable as possible while you are filling boxes.  

Planning your road trip: Many pets do not spend time in a crate or car. Whether you are moving near or far, you can prepare them for this part of the move by adding car time to their routine; as well as crate time both in the house and out and about.

Pet-proofing your new home: Get your new home ready for your pet. Hide electrical cords, cover nooks where they could get stuck, make sure window screens are secure, and confirm nothing poisonous to pets has been left in or around the house, like pest-control traps or plants.

Settling in: Your new, unfamiliar space, can be overwhelming to a pet. Introduce them to their new home gradually, one room at a time. The process may be slow but helping them feel comfortable is the ultimate goal. 

After reading the ASPCA article, the key takeaways were:

• Stick to your pet’s routine, and
• Make your pet as comfortable as possible. 

Hopefully these tips from the ASPCA help you do just that, and your move goes smoothly for the new homeowners, both furry and not so furry!

Photo by Andrew S on Unsplash

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With interest rates remaining high and inventory low, many who were considering selling and then buying, are now considering staying in place. That doesn’t mean their current home is everything they need it to be, however; maybe more space is needed. So, what are the options? This is a question my family has been pondering while the real estate market has been in flux. We’ve contemplated every type of home addition or renovation, mainly looking at the return on investment if/when we decide to sell.

In comes a recent Realtor.com video, “Out of Space-and Out of Your Mind?” Yes!! This video looks at different building options, and the value that is gained for specific rooms. Here’s a summary:

First, the post looks at what the building options are? Option one is to build outward. This would add square footage to your existing space, and can be less expensive than building up. You’ll want to consider your yard and if you can part with the outdoor space you’ll lose when adding on. Generally the cost for building outward is around $60,000-80,000, for a 400 square foot addition.

Second, is the option to build upward. If you don’t have the space to build out, this may be your best option; especially if you have a smaller lot. However, consider that removing the roof, or adding or renovating stairs can quickly add up. If you live in an older New England home, like we do, you also need to think about the age of the home and what added costs may come when deconstructing. The average cost for a 400 square foot addition going up can range from $72,000-100,000. 

Next the realtor.com video looks at adding specific rooms; starting with a bathroom. Often this is a big want, particularly in one-bath homes. If you are hoping to add a bathroom, you’ll want to think about plumbing, fixtures, tile, labor, etc. When adding a bathroom it can cost around $20,000-90,000, depending on your selections. The return on investment, however, can be around 53 percent.

Another room many homeowners think about adding is a bedroom. Number of bedrooms matters, especially when listing a home for sale. This was our biggest need when considering our addition. Our now teenage boys are sharing the smallest room in our house… time for their own space. We know adding a true third bedroom to our home will bring value when selling so this is the room we were focused on having. According to realtor.com, while a bedroom addition can cost $50,000, it can bring over 54 percent return.

The final room the video looks at is a sunroom. This can be a great space for gathering, and enjoying the sun. Plus, staged correctly, sunrooms always look great in listing photos. Average cost is between $8,000-80,000; this all depends on the existing structure of the home and selections. A sunroom can bring in a return on investment of 49 percent, according to realtor.com.  

Ultimately, we decided to build out. We had the yard space, and the addition will actually afford us more privacy in our backyard. What are we adding on? A master bedroom; although we are holding off on finishing the bathroom until costs come down a bit. In the end, it wasn’t exactly what we had envisioned when starting this process but it will give us the necessities – a space for everyone that is more functional. It will also increase the value of our home when it’s time to move. 

If this is a decision you’ve been thinking about because of the current real estate market, you’ll want to watch the video from realtor.com. You’ll also want to talk to contractors and even a local real estate professional to figure out what is best for you, and what will give you the best return. 

Photo credit: Davizro, iStock

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To answer these questions, we turned to Realtor.com’s new News & Insights section: Living. With great tips for updating your home and the latest housing trends, this page is a great resource for ideas. Recently they’ve had several posts focusing on outside living, including:

Is it Worth Adding a Deck?

While relaxing on an outside deck is at the top of many peoples’ summer to-do list, decks are not for everyone and require work. This article focuses on those pros and cons and whether a deck adds value during a potential home sale. Considering decking out your home? You’ll want to read this post.

Should I Add an Outdoor Kitchen: Pros and Cons? 

Outdoor kitchens have been trending since COVID, when people were looking to expand their living space. This article looks at what makes up a true outdoor kitchen – hint, it’s not just a grill! It also looks at some pros and cons that come along with planning, paying for and adding this space. Think high cost without a huge return on investment, particularly in New England with our short summers. Love entertaining outside and dreaming of an outdoor kitchen, read this post as your decision simmers.

Is Adding a Pool Worth It?

Prior to COVID, a pool wasn’t considered of really any value, particularly in New England. The pandemic brought a demand for pools. The main reason for this: it gave a homeowner a swimming hole in their own backyard, when they couldn’t go anywhere else. With increased demand came higher prices and long waiting lists for installation, so it is still important to weigh the decision before diving into the deep end. One big consideration – the appraised value of the pool will not be equal to the cost of the pool. With this in mind, think about how long you plan to stay in your home and enjoy the pool. After that, read this post for yourself and consider the pros and cons carefully.

Photo by Im3rd Media on Unsplash.

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The main purpose of these rate hikes, according to the recent Bankrate.com article “What the Fed’s May rate hike means for homebuyers and sellers,” is to calm inflation. The Bankrate.com article goes on to point out that the housing market tends to be resilient in general. This is because mortgage rates often have no bearing on the life events that lead to a move.

I found this information given in the article very telling of this point. The article notes, “History bears this out. In the 1980s, mortgage rates soared as high as 18 percent, yet Americans still bought homes. In the 1990s, rates of 8 percent to 9 percent were common, and Americans continued snapping up homes. During the housing bubble of 2004 to 2007, mortgage rates were higher than they are today — and prices soared.” (Ostrowski and Petry)

Mary Marengi of Academy Mortgage also shared her thoughts on this topic in a recent post titled, “Homebuyers want to know: Why a 3rd Fed hike?” In this post, she also points to the fact that a Fed rate hike has no direct bearing on mortgage rates. Rather, she notes how it could be a good thing, saying, “…the Federal Reserve’s efforts to calm inflation may be welcome news to you. Mortgage rates typically rise in times of inflation. If inflation cools, mortgage rates are likely to follow suit.” (Marengi)

So, if you are thinking of buying, know there’s a light at the end of the tunnel. If you do buy now while rates are high, you will always have the opportunity to refinance when rates come down. In Marengi’s post, she also notes these key points regarding buying a home:

• Homeownership is historically considered a reliable hedge against inflation.
• Home price growth is moderating.
• Homeownership can still help you build prosperity. (Marengi)

In the end, do your homework. Read these articles, talk with a lender and even a local realtor to get a sense of the market in the area you plan to buy. After doing the due diligence, only then can you make the best decision for your next move.

Sources: 

Marengi, Mary. “Homebuyers want to know: Why a 3rd Fed hike?” Academy Mortgage Corporation. 3 May 2323, https://academymortgage.com/learning-center/fed-rate-hike?lo=Mary-Marengi. Accessed 9 May 2023. 

Ostrowski , Jeff, (Edited by:Michele Petry). “What the Fed’S May Rate Hike Means for Homebuyers and Sellers.” Bankrate.Com, 3 May 2323, www.bankrate.com/real-estate/how-fed-rate-hike-affects-housing/. Accessed 9 May 2023. 

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In the early 1900s, before brokers and agencies existed, buyers interested in a particular home would come out when homes were “open for inspection.” These viewings were similar to the open houses of today in many ways. They took place on the weekends, but would often last days or weeks with a house often being open from 9 a.m. to 9 p.m., according to a recent Realtor.com post. The post, “A Brief History of Opening Our Homes to Total Strangers (aka the Open House),” looks back at the early days of real estate and how we got to where we are today.

The post notes that in these early days there was a real “Wild West” vibe to the industry. With no license laws, anyone could claim they were an agent. Yards were often littered with signs for different “agents” hoping to find the right buyer and make the sale. Therefore, anyone could reap the benefits of a home sale as long as they were picked by the buyer.

This scenario made it hard for individuals who were serious about being real estate professionals. They sought ways to separate themselves from those looking to make a quick dollar. From this, local and national associations, brokerages that employed multiple agents, and exclusive contracts were born. All this provided some much needed structure to the industry. Looking at the timeline in the Realtor.com post, you’ll see not much has changed since the early 1950s. Why? Because it worked!

Okay, there’s been minor adjustments. We now hold Open Houses which tend to be shorter, allowing agents to represent multiple listings. Marketing has also evolved with the Internet and social media. Finally, if you check out the listing from 1917 in the post, you’d probably add that prices have definitely changed. At its core, however, the concept of buying and selling hasn’t changed too much over the last century or so. From browsing listings, to open houses and agents, to buyers and sellers, we are enamored with real estate!

Photo by Maria Ziegler on Unsplash (cropped from original size).

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A recent Realtor.com blog post quotes Casey Ames, Owner and CEO of Taylor Jene Homes in Boise, ID, who notes, “The key to buying a house on the cheap is knowing how to balance achieving your dreams while staying within your budget.”

The blog goes on to discuss options for down payment assistance to help alleviate some of the cost when buying a home in today’s market. These tactics include:

1. Get a low-down payment—or no-down payment—loan
2. Look into down payment assistance programs
3. Use a family down payment gift
4. Consider auctions, short sales, and more

While these options may not work for all of those in the market for a new home, they are worth exploring to see if they can help you. This is definitely a leave no rock unturned real estate market, so make sure you do your research when it comes to financing, buying and/or selling; and be sure to schedule some time with a local mortgage expert and real estate agent. They can help you best understand your options.

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With yesterday’s news that the Federal Reserve (aka the Fed) may raise interest rates again, many homebuyers may be considering what their next move is.

Do they continue to house hunt?

Is now still the right time to buy a home?

Should they leap at the next house that becomes available?

Since buying a home is a big decision, these questions are always swirling. However, with the current housing market, they are more commonplace. One thing is certain, homebuyers should not panic. Panic leads to mistakes. The market always has its ups and downs, but any decision made should be based on the day-to-day needs of the prospective homebuyer.

Today’s blog post from Realtor.com, “The Massive Mistake Homebuyers May Be Tempted To Make Right Now: Is This You, Too?,” highlights concerns buyers have; especially when the market is unpredictable.

Example of Buyer Mistake

The post shares the story of buyers that put their housing search on hold. Their thought was prices would come down, but instead prices continued to rise. They inevitably panicked and purchased the home they were renting, even though it was too small and the layout didn’t suit their family. This is considered “FOMO buying” by an agent with Pacific Sotheby’s International Realty in San Diego. Fear of missing out should not be the reason to purchase a home…ever.

As Realtor.com’s Chief Economist Danielle Hale notes, “It is not a good idea to try to time the market. No one has a perfect view into the future. Whether you think rates or prices are going up or going down, the world may not evolve the way you expect it to. We all have to make decisions with that uncertainty.”

If you are in the market to buy a home, you’ll want to read through this post. Next step, meet with a realtor in the area of your home search. They will be able to guide and advise you to make the best decision based on your needs alone; not the ups and downs of the housing market.

Photo credit: Marco Verch Professional Photographer on Flickr. This image is available under Creative Commons 2.0.

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