#artisansothebys – Artisan Sotheby's International Realty

10 Essential Steps to Buying Your Dream Home

Buying a home is a major financial decision. Whether you are a first-time buyer or upgrading, the process can feel overwhelming. Here’s a step-by-step guide to help you buy a house.

Step 1: Assess Your Financial Situation

Check your credit score: Credit scores range from 200 to 850, with scores above 620 deemed desirable for obtaining a mortgage.

When lenders assess your mortgage application, they will review your FICO score. A FICO score is a number that shows your creditworthiness. It is calculated using a special formula based on data from the three main credit reporting companies: Experian, Equifax, and TransUnion.

Improve your credit score with this guide.

Calculate your debt-to-income ratio: Lenders use this metric to assess your mortgage repayment ability. Ensure your debt-to-income ratio is within an acceptable range to secure favourable loan terms.
Determine how much you can afford. Understanding your budget helps you avoid taking on a mortgage that may become a financial burden, keeping your monthly payments manageable. Account for additional costs like property taxes, insurance, maintenance, and potential HOA fees.

Step 2: Get Pre-Approved for a Mortgage

A mortgage pre-approval is crucial in today’s competitive market. It shows sellers that you are a serious buyer and helps you determine your budget. Work with a lender to get pre-approved by providing financial documents such as income statements, tax returns, and credit reports. Here’s a helpful link about questions to ask when choosing a lender.

Step 3: Define Your Home Needs and Wants

Make a list of must-have features and nice-to-have amenities. Here are a few examples of must-have list items to consider to help you narrow down your options when searching for homes:

Location
Home size
Outdoor space
Number of bedrooms and bathrooms
Proximity to schools and work
Neighbourhood safety
Layout, features, and finishes

Step 4: Hire a Real Estate Agent

A knowledgeable and experienced real estate agent like Randy and Heidi can make the process much smoother. They will help you find homes that match your criteria, schedule viewings, negotiate on your behalf, and guide you through paperwork and contracts.

Step 5: Start House Hunting

Work with your agent to view homes that fit your budget and needs. Take notes during each showing, ask questions about the property, and compare the listings to help you make a good decision. Here’s a list of what to look for when touring a home:

1. Overall Condition of the Home

Look for signs of water damage, such as stains on ceilings or walls.
Check for cracks in walls, ceilings, or the foundation that could indicate structural issues.
Test doors and windows to see if they open and close properly.

2. Roof and Exterior

Ask about the age of the roof.
Look for cracks in the siding, brick, or stucco that may lead to costly repairs.

3. Plumbing and Water Issues

Turn on faucets to check water pressure and drainage.
Look under sinks for leaks, mold, or water damage.

4. HVAC System

Ask about the age and maintenance history of the heating and cooling system.

5. Kitchen and Appliances

Ask about the age and condition of appliances included in the sale (oven, dishwasher, refrigerator, etc.).
Look at cabinets and drawers to make sure they open and close properly.
Check countertops and flooring for wear and tear.

6. Bedrooms and Living Spaces

Ensure the layout fits your lifestyle and furniture needs.
Look for adequate closet and storage space.
Check natural lighting and ventilation in each room.

7. Neighbourhood and Surroundings

Listen for noise levels from traffic, neighbours, or nearby businesses.
Observe street parking availability and overall neighbourhood upkeep.

8. Red Flags to Look Out for in a Home Inspection

Strong odours, such as mold or smoke, that may be difficult to remove.
Freshly painted spots that could be hiding damage.
Foundation cracks wider than 1/4 inch.

Tip: Take photos while visiting each house and focus on the things you can’t change, like location, the neighbourhood, or the size of the bedrooms.

Step 6: Make an Offer

Once you find the right home, work with your agent to submit a competitive offer. This includes your proposed purchase price, contingencies (such as inspections and financing), and a closing timeline. The seller may accept, reject, or counter your offer.

Step 7: Get a Home Inspection

A home inspection is essential to uncover any hidden issues with the property. Hire a professional inspector to check for structural problems, plumbing and electrical issues, roofing conditions, and more.

It’s always a good idea to add a contingency clause to your offer stating that you have a certain amount of time to inspect the property. If any major problems are found, you may negotiate repairs or reconsider your purchase.

Step 8: Secure Your Mortgage Loan

Once your offer is accepted, finalise your mortgage by working with your lender. You’ll choose a loan type, lock in your interest rate, and provide any additional documents required for loan approval.

Step 9: Conduct a Final Walkthrough

Before closing, do a final walkthrough of the property to ensure everything is in order. Verify that agreed-upon repairs have been completed and that the home is in the condition expected.

Here’s a detailed list of what to check for on your final walkthrough.

Step 10: Close the Deal

On closing day, you’ll sign all necessary documents, pay closing costs, and officially receive the keys to your new home. Your real estate agent and lender will guide you through this final step.

Tip: Don’t forget to re-key all the locks and change the garage door opener code when the property is officially yours.

Buying a house is an exciting but complex process. By understanding each step and working with professionals, you can make confident decisions and find the perfect home. If you’re ready to start your home-buying journey, reach out to a trusted real estate agent today!

Home Design Trends Taking Over Pinterest in 2025

Pinterest is a great source of inspiration for homeowners, designers, and dreamers. As we dive into 2025, fresh trends are changing how we design our homes. Here are the top home design trends dominating Pinterest this year:

1. Warm Minimalism

Minimalism gets a cosy update in 2025. Pinterest boards are brimming with spaces that combine the simplicity of minimal design with warm tones. Think beige, taupe, terracotta, and muted greens paired with soft textures like boucle, wool, and natural wood.

How to incorporate: Choose simple furniture with gentle curves. Add cosy items like knit throws and soft rugs. Use natural colours throughout your space.

2. Biophilic Design

In 2025, the focus is on blending indoor and outdoor spaces. People love nature-inspired designs, and this year emphasises using large windows, indoor plants, and natural materials like stone and wood.

Interior designer Erica McLain explains, “Biophilic design is the art and science of reconnecting humans with the natural world within built environments. Rooted in our innate biophilia—the deep evolutionary bond between humans and nature—it seeks to restore balance, calm, and vitality in our indoor spaces by integrating the principles and patterns of the natural world.”

How to incorporate: Add statement greenery like fiddle-leaf figs or monstera plants and use materials like bamboo, rattan, and reclaimed wood to bring nature inside.

3. Maximalist Wallpapers

Herbarium Antique Wallpaper image courtesy of Fancy Farm Girls

Bold and vibrant wallpapers are very popular this year! Homeowners are choosing statement walls with designs like intricate botanical prints and abstract geometric patterns.

How to incorporate: Choose one feature wall to apply a bold wallpaper, such as in the bathroom or living room, and keep the surrounding decor minimal to let the design shine.

4. Vintage Revival

Vintage decor is making a comeback, with more people searching for “antique accents” and “retro-inspired interiors” on Pinterest. By mixing old heirloom pieces with modern items, you can create a stylish and nostalgic look. Think about using mid-century modern furniture, brass fixtures, and vintage art prints.

How to incorporate: Hit up thrift stores for unique vintage finds, pair retro furniture with modern accessories, and mix in soft lighting with warm, golden tones.

5. Tech-Integrated Spaces

In 2025, smart home technology will be a key part of design, not just an extra feature. Modern homes include hidden charging stations, smart lighting, and voice-controlled appliances that fit easily into stylish layouts.

This technology simplifies life. Smart lighting adjusts to your routine and mood, saving energy while creating the right atmosphere. Climate control offers comfort with learning thermostats. Home entertainment uses voice commands and hidden screens for an immersive experience. Smart locks and cameras boost security without compromising aesthetics.

How to incorporate: Invest in smart lighting with customizable settings, install wireless charging pads in furniture, and consider voice-controlled appliances for your kitchen or bathroom.

6. Earth Tones with a Twist

Earth tones are still popular, but Pinterest users are looking for bold accent colours to go with them. They are combining deep emerald green, burnt orange, and mustard yellow with neutral backgrounds for a bright touch.

This style keeps the classic appeal of earth tones without seeming dull or outdated. By using fresh colour pairings, unexpected materials, and curated textures, “Earth Tones with a Twist” makes interiors feel cosy and modern.

How to incorporate: Add colourful throw pillows, rugs, or art pieces in bold colours to make your space lively and welcoming.

7. Textured Ceilings

Gone are the days of plain white ceilings. In 2025, Pinterest is buzzing with textured and decorated ceiling designs. From wood panelling to metallic finishes, ceilings are becoming a canvas for creativity.

Popular styles include knockdown for a modern look, Venetian plaster for elegance, and coffered or beamed ceilings for a classic touch. Shiplap or wood panelling adds warmth, while popcorn ceilings are now often removed for a sleeker finish.

How to incorporate: Try adding wood beams for a rustic look or a bold paint colour with a subtle texture to elevate your ceiling design.

8. Home Wellness Spaces

Wellness-focused design is a top trend in 2025, with Pinterest full of ideas for home yoga studios, meditation corners, and spa-like bathrooms. As more people prioritise well-being, designers are creating peaceful spaces that promote relaxation and mindfulness.

How to incorporate: Dedicate a quiet corner of your home to a wellness area, complete with calming decor like candles, plants, and soft seating. For bathrooms, consider adding a rainfall showerhead or a freestanding tub.

9. Sustainable and Upcycled Design

As a REALTOR® with NAR’s GREEN Designation, I see firsthand how eco-friendly design is shaping the future of homeownership. With sustainability at the forefront, more homeowners are embracing upcycled furniture, energy-efficient upgrades, and natural materials to create stylish yet environmentally responsible spaces.

Pinterest searches for “upcycled furniture” and “sustainable home ideas” are soaring, reflecting a growing commitment to greener living.

How to incorporate: Repurpose old furniture with a fresh coat of paint, opt for LED lighting, and incorporate materials like cork and bamboo for a sustainable touch.

10. Moody Kitchens

White kitchens have long been a staple, but in 2025, bold, dramatic tones are redefining kitchen aesthetics. Rich, moody colours like deep blues, forest greens, charcoal greys, and even black are taking centre stage, creating a sophisticated and intimate atmosphere. Paired with warm metallic accents and textured natural materials.

How to incorporate: Paint your lower cabinets a deep hue and keep countertops light to create contrast. Add metallic hardware for a touch of elegance.

The home design trends of 2025 reflect a desire for comfort, sustainability, and individuality. Whether you’re revamping your space or simply looking for inspiration, these Pinterest-worthy trends offer something for every style. So, grab your mood board and start planning your dream home today!

Real Estate Predictions for 2025

As we get closer to 2025, the real estate market is about to change significantly due to economic shifts and buyer preferences. This blog will highlight key predictions that might affect the housing market. This will help you find both opportunities and challenges coming your way.

1. Increased Demand for Suburban and Secondary Markets

The migration to suburban areas during the pandemic has had a lasting impact. As many workers have transitioned to remote and hybrid work models, many have chosen to settle in suburban and secondary cities.

In 2025, we anticipate continued interest in these secondary markets, as many buyers prioritise affordability, larger living spaces, and a high quality of life.

Pro Tip: If you’re considering selling in these areas, this could be a prime time to list your property.

2. Sustainability Takes Center Stage

Green homes will be a major focus as buyers prioritise energy-efficient features and sustainable materials. Properties equipped with solar panels, energy-saving appliances, and smart home systems will command higher premiums, creating a home so efficient it pays you back.

If you are looking for a new, more resource-efficient property, Randy Mack a REALTOR® with NAR’s GREEN Designation can help.

3. Rising Interest Rates Stabilize

While interest rates have been a hot topic recently, 2025 may bring more stability. This could encourage hesitant buyers to re-enter the market, though affordability will remain a key concern.

According to Freddie Mac, since September, rates have been on the rise again and ended the month of November at 6.81% after hitting 2-year lows of 6.08% in late September. Lawrence Yun, chief economist of the National Association of REALTORS®, says the rates should stabilise at the low end of that range for 2025 and 2026.

NAR, What’s Next for the 2025 Housing Market?: Factors that could change Yun’s forecast: a reduction in the budget deficit, an easing of housing regulations holding up home builders, or a significant increase in the labour force to help lower inflationary pressures. In such cases, “mortgage rates could come down quickly,” Yun noted.

Pro Tip: Buyers should monitor rates closely and consider locking in when favourable terms are available.

4. Fewer Deals for Renters

Renters who received good deals in 2024 because of many new apartment buildings may find fewer offers in 2025. The pace of new construction is expected to slow down, with new rental buildings predicted to drop by 21% in the first half of 2025 and further declines expected throughout the year.

This drop in available apartments will likely stabilize rental prices and give renters less power to negotiate for extras like a free month of rent.

5. Increased Housing Inventory

Inventory levels are up by 27% compared to last year. New home construction is also rising, which could help ease housing costs. Yun predicts a continued increase in housing inventory and new builds through 2025.

Housingwire: As it continues, we’re slowly getting closer to the old normal levels. While we have 27% more homes for sale now than last year, we have 22% fewer homes on the market than at the end of 2018. By the end of next year, we should be back to old normal inventory level.

6. Positive Outlook for Home Sales

Improved job numbers and recent stock market gains could encourage more Americans to act on their homebuying plans.

NAR: Pending home sales rose 3% year-over-year in September 2024, suggesting that “the worst is over,” according to Yun. With growing inventory and pent-up demand from a population increase of 70 million since 1995, the housing market may be poised for a strong rebound.

7. Millennial and Gen Z Buyers Dominate

Younger generations will continue to drive the housing market, bringing preferences for tech-savvy homes, walkable neighbourhoods, and urban amenities.

Sellers should consider these trends when marketing properties.

8. Increased Focus on Climate Resilience

With climate change impacts becoming more pronounced, properties in areas prone to natural disasters will need to prioritize resilience. Buyers will seek homes with features like reinforced structures and flood protection.

The real estate market in 2025 offers new opportunities and challenges. Knowing these trends can help you manage your buying, selling, or investing with confidence. Being prepared and adaptable will be essential for success in the coming year.

If you’re ready to take the next step, don’t hesitate to reach out. A knowledgeable real estate agent can provide invaluable insights, helping you make informed decisions in this dynamic market. Call us!

A Guide to Buying and Selling a Home at the Same Time

Buying and selling a home simultaneously can feel like a balancing act. Here’s where to begin to maximise your strategy and minimise stress.

1. Evaluate Your Financial Situation First

Before you start buying and selling, take a close look at your finances. It’s best to know what you can afford without relying on the money from your home sale. If that’s not possible, there are ways to cover the financial gap.

Get pre-approved for a mortgage and discuss options like a home equity line of credit (HELOC) or a bridge loan with your lender.

Bridge Loan: A short-term loan designed to help finance when moving from one house to another. This type of loan usually uses your current home as collateral, but some lenders might accept other assets instead. Be sure to check with your lender if this option is feasible.
HELOC: Allows you to borrow against the equity of your current home to help pay for a new one. This is especially useful if you’ve built substantial equity in your existing property.

2. Work with a Knowledgeable Real Estate Agent

Choosing an experienced real estate agent like Randy and Heidi who knows the local market can benefit you in a buy-sell scenario. Having a pro beside you will be helpful with timelines, negotiating, strategy, and understanding what it takes to close on both properties in a competitive market.

Also, consider hiring the same agent if you’re buying and selling in the same market. This can make communication easier.

3. Determine Which Comes First: Buying or Selling?

Buying First: You can avoid the stress of finding one fast. However, this means you need to afford two mortgages temporarily or be ready for a quick sale of your current home.
Selling first can free up capital, giving you a clear idea of your budget for the new home. However, you may need to arrange temporary housing if you can’t find a new property in time.

Consult your agent to understand which option fits your needs based on market conditions.

4. Consider the Contingency Option

Depending on market conditions, including a home sale contingency (where you buy a home only if your current home sells) may still be an option. Discuss with your agent whether contingencies could work in your favour, especially if the local market allows for them.

Alternative Solutions: If contingencies are a challenge, explore other options, like a rent-back agreement. In a rent-back, the buyer of your current home allows you to stay temporarily after the sale closes, giving you extra time to shop for your new home with the money from your sale.

5. Start Preparing Your Home for Sale Early

Preparing your home for sale in advance will save time and reduce stress when the time to list arrives. Start by decluttering, cleaning, and handling any necessary repairs.

Tip: List your home as “Coming Soon” with professional photos to generate early interest and boost demand for a quicker sale.

6. Stay Organized with Clear Timelines and Checklists

Managing a dual transaction requires a clear timeline and being on top of deadlines. A checklist can help you track important dates for inspections, financing, and closing.

Create a Schedule: Work with your real estate agent to coordinate showings, moving dates, and key deadlines. Use digital tools or apps to track deadlines and keep documents easily accessible.

7. Plan for Moving Day Logistics

Moving day can be hectic, especially when buying and selling a home at the same time. Consider hiring professional movers and, if possible, stagger your moving dates to allow for some flexibility. If you can’t move directly between homes, look into temporary storage options.

Tip: Pack an “essentials” box with items you’ll need immediately in the new house (e.g., toiletries, basic kitchenware, a few changes of clothes) so you aren’t searching through boxes.
Helpful links: How to Pack Like a Pro and Checklist to Prepare for Your Move.

Buying and selling a home at the same time can be easy with the right steps and professionals to help you. Get the right support to smoothly transition into your new home. Call us today!

Fall Home Maintenance Checklist: Keep Your Home in Top Shape

As the leaves change colour and temperatures drop, it’s time to prepare your home for the colder months ahead. Fall is the perfect season for home maintenance tasks to keep your home in great shape through the winter.

1. Inspect and Clean Gutters

Leaves and debris can quickly clog your gutters and downspouts. Regularly clean them to prevent water overflow from drain blockage, which can damage your roof, siding, and foundation.

2. Seal Windows and Doors

Inspect the seals around your windows and doors for cracks or gaps. Seal them to prevent pests from entering, for proper insulation, and to ensure the temperature in your home is where you want it to be.

3. Service Your Heating System

Before the cold weather hits, service your heating system. Change the filters, check the thermostat, and make sure the system runs efficiently. Regular maintenance can extend the life of your heating system and help prevent breakdowns during the coldest months.

4. Clean and Inspect the Fireplace and Chimney

A creosote buildup in your chimney can be a fire hazard, so hire a professional sweeper to clean it. Check the damper to ensure it opens and closes properly, and inspect the fireplace for any cracks or damage. The NFPA and CSIA outline three levels of chimney inspection to help you determine what type of service your chimney needs.

5. Test Smoke and Carbon Monoxide Detectors

Test each detector and replace the batteries if needed. If your detectors are over ten years old, consider replacing them altogether for added safety.

6. Check Your Home’s Insulation

Proper insulation is key to keeping your home warm and energy-efficient during the colder months. Check the insulation in your attic, basement, and crawl spaces. This can help reduce heat loss and lower energy bills throughout the winter.

7. Prepare Your Lawn and Garden

Remember to regularly rake the leaves to keep your grass healthy, and aerate your lawn to improve the soil. Trim dead branches and shrubs, and consider applying a fall fertiliser to boost your lawn before winter. Check out this comprehensive guide for your winter lawn prep.

8. Inspect Outdoor Lighting

As days get shorter, outdoor lighting becomes more important for safety and security. Check all exterior lights, including pathway lights, porch lights, and motion sensors. Replace any burnt-out bulbs and consider upgrading to energy-efficient LED bulbs to save on energy costs.

9. Protect Outdoor Furniture and Equipment

Protect your outdoor furniture and equipment from the weather by cleaning and covering them. Store smaller items like cushions, umbrellas, and garden tools in a shed or garage. If you have a grill, clean it thoroughly and cover it to keep it in good condition through the winter.

10. Reverse Ceiling Fans

If your home has ceiling fans, reverse the direction of the blades to push warm air down from the ceiling. Most fans have a switch that allows you to change the direction. This simple adjustment can help improve your home’s heating efficiency and make rooms feel more comfortable.

11. Check for Pests

As temperatures drop, pests like rodents and insects may try to find shelter inside your home. Inspect your home’s exterior for gaps, cracks, or openings that pests could use to enter, and seal them up. Keep firewood away from your home’s foundation to reduce the risk of attracting termites or other pests.

Follow this checklist to prevent potential issues, save energy costs, and keep your home in top shape all season. Learn more about home hazards.

Don’t wait until winter arrives—start checking off these tasks now and enjoy peace of mind knowing your home is well-prepared for the season ahead.

Tap into Solar Power

As energy costs rise and concerns about environmental sustainability grow, more homeowners are turning to solar energy as a viable solution. Going solar is a great way to reduce your carbon footprint, save money on energy bills, and increase your property’s value.

Understanding the Benefits of Solar Energy

Cost Savings: Solar energy provides substantial long-term cost savings. Your potential savings depend on electricity rates and the cost of your solar system. On average, it takes about 8 years to recover the money spent on installing solar panels. After that, the electricity generated by your solar panels is free.
Environmental Impact: Switching to solar energy helps reduce fossil fuel use, lower greenhouse gas emissions, and fight climate change. Solar energy is a clean, renewable resource.
Increased Property Value: Homes with solar panels typically increase in value. Prospective buyers often pay a premium for a house with lower energy costs and sustainable features.

Assessing Your Home’s Solar Potential

Before investing in solar panels, determine if your home is suitable for solar energy. Consider the following factors:

Roof Condition and Orientation: Solar panels work best on roofs in good condition and face south, but they can also be effective on east- and west-facing roofs. While south-facing roofs or ground arrays will generate energy most efficiently, you can still harness solar energy regardless of the direction your panels face.
Sunlight Exposure: To maximize electricity production, assess how much sunlight your roof gets. Factors such as trees, chimneys, or nearby buildings can cast shadows that reduce the efficiency of your solar panels. Although solar panels can generate electricity in different weather conditions, areas with more sunny days generally yield higher energy output. It’s advisable to research the average solar insolation levels in your area to estimate potential energy production. Discover your solar savings potential with Google Project Sunroof.

Choosing the Right Solar System

Monocrystalline: Monocrystalline panels are usually the most expensive solar panel type but are known for being highly efficient in producing energy. They require less space and have great heat tolerance.
Polycrystalline: Polycrystalline panels require more space and have lower efficiency and performance. However, they are typically cheaper and have a lifespan comparable to monocrystalline panels.

How much does Solar cost in California?

Federal Incentive

With the federal solar tax credit, or the investment tax credit (ITC), those who install eligible solar energy systems between 2022 and 2032 will get a tax credit worth 30%.

Selecting a Solar Installer

Research and Reviews: Look for installers with positive customer reviews and a solid reputation in the industry. Ask for recommendations from friends or family who have gone solar.
Certifications and Experience: Ensure the installer is certified by recognised organisations, such as the North American Board of Certified Energy Practitioners (NABCEP). Experienced installers are more likely to handle challenges effectively and provide quality workmanship.
Quotes and Financing: Obtain multiple quotes to compare prices and services. Discuss financing options, including loans, leases, and power purchase agreements (PPAs), to find the best fit for your budget.

We proudly announce that we have earned the NAR’s Green Designation. This certification highlights our dedication to energy efficiency and sustainable real estate practices. Contact us today for more information on how we can assist with your real estate needs while prioritising sustainability.

What is a Buyer’s Agent, and Why Do You Need One?

When dealing with real estate, whether you’re buying your first home or looking to invest, having a real estate pro by your side can make a significant difference.

What is a Buyer’s Agent?

A buyer’s agent is a real estate professional who helps buyers with property transactions. They know the local market well and provide valuable advice to help buyers get favourable terms.

Usually, the seller pays the buyer’s agent’s commission, so their services are valuable and cost-effective for buyers.

Reasons Why People Use Buyer’s Agents

1. Expert Knowledge and Experience

They know about the real estate market, including current trends, property value, and neighbourhood specifics. This knowledge helps buyers make smart decisions and avoid costly mistakes.

2. Access to Exclusive Listings

Buyer’s agents often have access to exclusive listings and pre-market opportunities through their professional networks. This gives buyers an advantage in a competitive market, as popular properties sell quickly.

3. Skilled Negotiation

Negotiating the best deal takes skill and experience. A buyer’s agent negotiates for the buyer, working to get the best price and terms. They know the strategies and tactics needed to get good deals, making sure their clients get value for their money.

4. Time and Stress Management

Buying a home can take a lot of time and be stressful. Tasks like finding properties, scheduling viewings, and dealing with paperwork can be overwhelming. The agent manages these tasks, so buyers can focus on their daily lives while the agent handles the details.

5. Professional Network

They have a broad network of professionals, including mortgage brokers, home inspectors, attorneys, and contractors. These connections are essential for ensuring a smooth transaction.

6. Objective Perspective

It’s easy to get attached to a property and overlook potential issues. A buyer’s agent offers an objective perspective, helping buyers stay focused on their goals and avoid making hasty decisions based on emotion.

7. Market Insight and Analysis

Understanding market conditions is vital when buying a property. They provide a detailed market analysis, including comparable sales and market trends. This information helps buyers determine if a property is priced fairly and when to make an offer.

8. Advocacy and Protection

They ensure that buyers are protected throughout the transaction, from initial negotiations to the final closing. This advocacy includes identifying potential red flags and upholding the buyer’s rights.

NAR, Buyers of New Homes Want Real Estate Agent Representation, For buyers of new homes who did purchase in the last year, 61% used a real estate agent or broker to purchase a home because they wanted representation in the buying process.

Additionally, among the top benefits of using a real estate agent cited by buyers of new homes were: pointing out unnoticed faults and features in the property; helping to understand the buying process; improving the search areas; helping with negotiation; and shortening the search time.

Also, among buyers of new homes who used an agent to purchase the property, nine in 10 would use the agent again or recommend them to others.

How to Choose a Buyer’s Agent

Ask for Referrals: Seek recommendations from friends, family, or colleagues with positive experiences.
Research Online: Read reviews, check credentials, and assess their background and experience.
Interview Multiple Agents: Evaluate their market knowledge, communication style, and understanding of your needs.
Check Track Record: Inquire about the types of properties they’ve handled and their negotiation success rate.
Trust Your Instincts: Choose a competent agent and someone you feel comfortable working with.

When choosing a real estate agent, it’s important to consider these key points for the success of your transaction. This will help you make an informed choice and work with an agent best equipped like Heidi and me to help you achieve your goals.

Whenever we represent a buyer, our sole motivation is to help them achieve their desired outcome. Finding the right home, negotiating, and closing at the right price is how we keep the phone ringing. Feel free to give us a call!

What Credit Score Do You Need for Homeownership?

When purchasing a house, having a good credit score is vital. A credit score is a number that represents how likely you are to repay your debts and shows your creditworthiness to lenders.

A higher credit score typically results in lower interest rates and better loan terms, while a lower score may lead to higher interest rates or loan rejection.

What credit score do you need to buy a house?

The credit score needed to buy a home can differ based on the type of mortgage and the lender’s requirements.

Generally, conventional mortgages may require a minimum FICO score of 620. However, FHA (Federal Housing Administration) loans may accept lower credit scores starting at 580, which is popular among first-time homebuyers.

What are the factors that affect your credit score?

It’s common for lenders to look at your FICO scores to meet loan qualifications for Fannie Mae, Freddie Mac, VA, FHA, and USDA.

How FICO scores are calculated:

Your payment history: A timely credit card payment history positively impacts your credit score. Bankruptcy, liens, and collections may also affect it.
How much do you owe, and where?: If you owe a significant amount of money in multiple accounts, it may indicate that you are overextended. However, dividing debt among several accounts can help you avoid the maximum on any credit line.
Your credit history’s length: The longer an account has been open, the better.
How much new credit do you have?: New credit cards, instalment plans, or other forms of credit carry a higher risk, even if paid promptly.
Your credit mix: It’s ideal to have a mix of credit types, including instalment loans, credit cards, and a mortgage.

What is a good credit score to buy a house?

720 or higher is considered good. Borrowers with credit scores of 800 or higher are likely to qualify for the best mortgage rates and terms available.

FICO credit score range
Below 580	Poor
580-669	Fair
670-739	Good
740-799	Very good
800 and above	Exceptional

When purchasing a house with a partner

Lenders typically use the lower of the two borrowers’ middle credit scores to determine loan eligibility and interest rates.

Therefore, both partners should maintain good credit and work together to improve their credit scores before applying for a mortgage.

How to improve your credit score

Check your credit report: Download one free credit report annually at annualcreditreport.com. Review for errors and correct any discrepancies immediately.
Pay down credit card bills: Pay all your bills on time to demonstrate responsible financial behaviour.
Don’t charge your credit card to the max: Aim to keep your credit card balances below 30% of your available credit limit. Using a lot of your available credit may lower your credit score.
Don’t open new credit card accounts: Opening new credit accounts within a short period can signal financial instability to lenders, and having too much credit can lower your credit score.
Wait 12 months after credit difficulties to apply for a mortgage: You’re penalised less severely for problems after a year.
Shop for mortgage rates once: Too many credit applications can lower your score. However, multiple inquiries about your credit score from the same type of lender are counted as one if submitted over a short period.

Achieving homeownership is an exciting journey, but it’s important to understand your credit score’s role in making that dream a reality. Start taking proactive steps to improve your creditworthiness today.

Finally, we hope you found the information helpful. Please don’t hesitate to reach out if you have any questions or want to learn more. We are always happy to provide assistance and support.

Home Improvement Projects to Increase Resale Value

Are you considering selling your home and looking to maximise its resale value? Home improvements can be a powerful tool for increasing the appeal and marketability of your property.

Whether you’re preparing to sell soon or want to enhance your home’s value with a return on investment (ROI) in mind, this is a smart financial move.

Home Improvements with the Best ROI

1. HVAC Conversion (Electrification)

According to the 2023 Cost vs. Value Report by Remodelling by JLC for the Pacific Region, converting a fossil-fuel-burning furnace to an electric heat pump and installing new lines and wall units has the highest ROI.

The conversion project is costly, but the ROI is outstanding at over 100%.

Average cost: $18,873
Average resale value: $19,770
Cost recouped: 104.8%

2. Focus on Curb Appeal

Make a positive first impression when selling your house. Since the exterior is what potential buyers see first, update the exterior of your home with landscaping, a fresh coat of paint, or spruce up your entryway.

As per the report, these curb appeal enhancers have the highest returns:

- Garage Door Replacement

Average cost: $4,756
Average resale value: $4,604
Cost recouped: 96.8%
- Entry Door Replacement (Steel)

Average cost: $3,839
Average resale value: $3,406
Cost recouped: 88.7%
- Manufactured Stone Veneer

Average cost: $11,785
Average resale value: $9,973
Cost recouped: 84.6%

3. Siding Replacement

The siding of a house is one of the most prominent features of its exterior. If it appears worn out or shabby, it can ruin the overall appearance of the whole property. It might be worth contemplating replacing the old siding with newer, better-quality materials.

There are two durable materials to consider for your home’s exterior: fibre-cement and vinyl, offering a modern and fresh look while providing long-lasting protection from the elements.

Vinyl

Average cost: $18,228
Average resale value: $17,922
Cost recouped: 98.3%

Fibre-cement

Average cost: $19,765
Average resale value: $17,172
Cost recouped: 86.9%

4. Minor Kitchen Remodel (Midrange)

The kitchen is often regarded as the heart of the home and can significantly impact a buyer’s decision.

Upgrade old appliances, install modern countertops, or refresh cabinets with a new coat of paint or updated hardware. Even small changes can make a big difference.

Average cost: $28,057
Average resale value: $22,221
Cost recouped: 79.2%

5. Window Replacement

This home improvement project enhances the interior look and also has practical benefits. You can reduce energy bills and boost comfort with energy-efficient windows.

It’s a worthy investment that can pay off in the long run.

Vinyl

Average cost: $22,299
Average resale value: $15,215
Cost recouped: 68.2%

Wood

Average cost: $26,528
Average resale value: $15,336
Cost recouped: 57.8%

6. Bathroom Remodel (Midrange)

Bathrooms are another area that buyers pay close attention to. Consider upgrading fixtures, replacing old tiles, or adding energy-efficient features.

Average cost: $27,024
Average resale value: $16,893
Cost recouped: 62.5%

7. Roofing Replacement

A new roof boosts the home’s overall appearance and signals potential buyers that the property has been well-maintained, potentially justifying a higher selling price.

Additionally, modern roofing materials often come with energy-efficient features, appealing to environmentally conscious buyers and those looking to save on energy costs.

Reduced maintenance requirements and the assurance of a well-kept roof make the home more attractive on the market.

Asphalt Shingles

Average cost: $33,541
Average resale value: $20,561
Cost recouped: 61.3%

Metal

Average cost: $55,619
Average resale value: $24,127
Cost recouped: 43.4%

Other Valuable Home Improvement Projects

1. Outdoor Living Spaces

Outdoor living spaces have become increasingly popular. There are numerous ways to transform your backyard into a functional outdoor living space. You can add a deck, patio, or outdoor kitchen.

Read our blog post about the best outdoor living ideas to find the right beautiful extension of your home.

Additionally, remodeling outdoor features can financially benefit homeowners who plan to sell their property. NAR, Most REALTORS® Recommend Improving Curb Appeal, and Homeowners Can Benefit Financially and Emotionally by Remodeling Outdoor Features, NAR-NALP Report Finds: Most REALTORS® (92%) suggest that sellers improve the curb appeal of their home before listing it for sale.

2. Address Structural Issues

Before focusing on cosmetic upgrades, ensure that the structure of your home is sound. Address any issues such as roof leaks, foundation cracks, or plumbing problems.

Hire a home inspector to find and fix problems before you sell your home. Then, you can demonstrate your detailed care for the buyer’s future home by providing them with receipts.

3. Install Hardwood Floors

Beyond the timeless elegance they bring to any room, hardwood floors are durable and easy to maintain. They are versatile and can work effectively in almost any room while also increasing the value of your home.

NAR, Remodeling Impact, for interior projects, the highest percentage cost recovered was from refinishing hardwood floors at 147%, new wood flooring at 118%, and insulation upgrade at 100%.

In conclusion, remember to prioritise upgrades that offer the best ROI and appeal to a broad range of tastes. By strategically investing in your home, you can maximise your property’s value and ensure a successful sale.

Finally, as your real estate agent, we are happy to further extend our services by offering our list of local, trusted service providers. Call us about your particular needs, and we will connect you with a qualified service provider in our area who can assist you.

Understanding HOA – A Guide for Home Buyers

If you’ve recently started your home-buying journey and came across the term Homeowners Association (HOA) but are unfamiliar with its role and impact on your decision-making process, this guide is for you.

Let’s delve into the essential things you need to know when purchasing a home in an HOA-governed community.

What is an HOA?

HOA stands for Homeowners Association. It is a governing body most commonly found in condominiums, co-op communities, and some single-family home neighbours.

Additionally, homeowners within the community typically become members upon purchasing property and must pay fees to support the association’s activities.

What do HOA fees cover?

Typically, HOA fees cover the maintenance and management of common areas and amenities within a community. These fees can vary widely depending on the specific HOA and its services, but they usually include:

Landscaping and Grounds Maintenance: This can include the upkeep of lawns, trees, shrubs, and shared green spaces.
Exterior Maintenance: Maintenance and repairs for exterior features like roofs, siding, and fences.
Utilities: Fees for communal utilities such as water, sewer, and sometimes trash removal or recycling.
Amenities: Maintenance and operation costs include swimming pools, tennis courts, fitness centres, clubhouse facilities, playgrounds, and walking trails.
Insurance coverage for public areas.
Security: If applicable, fees for security services like cameras, gates, and guards.
Reserve Fund Contributions: Funds set aside for future repairs, replacements, or upgrades to communal areas or infrastructure.

How much are HOA fees?

HOA fees vary widely depending on location, amenities, and services. On average, HOA fees can range from $100 to $700 per month. According to the US Census, the average HOA fee in 2021 was $191 a month.

Moreover, some luxury communities with extensive amenities may have higher fees, while associations with fewer amenities may have lower fees.

Benefits of HOAs

Access to Community Amenities: Amenities that may be too expensive to own and maintain alone, like a swimming pool, tennis court, or gym.
Less maintenance work: Generally, tasks like raking leaves and clearing snow are often included.
Property Value: HOAs enforce rules and regulations to maintain uniformity and attractiveness, which can help preserve property values within the community.
Community Engagement: They foster community through organised events, newsletters, and social activities, promoting neighbourly interactions.
Better Security

Drawbacks of HOAs

Fees: Homeowners must pay monthly fees, which can be a significant financial burden on top of mortgage payments and property taxes.
Restrictions: HOAs impose rules regarding property appearance, landscaping, parking, and even paint colours, limiting homeowners the freedom to personalise their properties.
Limited Control: Homeowners may feel constrained by the decisions made by the HOA board, especially if they disagree with the direction or priorities of the association.

Overall, whether an HOA is beneficial or not depends on individual preferences, lifestyles, and priorities. HOAs offer a sense of community and amenities that some homeowners find appealing, while others may find the fees and restrictions burdensome.

Therefore, by decoding the complexities of these fees, you empower yourself to make informed decisions. Whether you’re a first-time homebuyer or a seasoned homeowner, we hope this guide equips you with the needed knowledge.

Lastly, if you have any questions about real estate, you may visit Real Estate Explained for buyers and sellers alike. We have valuable guides to help you navigate the real estate process. Or if you’d like to talk more about HOA, please don’t hesitate to call us.

We are happy to help you in any way we can throughout your home-buying journey!