Waiting One Year to Buy a Home Can Cost You Thousands

Waiting One Year to Buy Can Cost You Thousands

  • The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.
  • Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.8% according to CoreLogic.
  • Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage

Are You 1 of the 59 Million Planning to Buy This Year?

buying a home

According to a survey conducted by Bankrate.com, one in four Americans are considering buying a home this year. If this statistic proves to be true, that means that 59 million people will be looking to enter the housing market in 2017.

The survey also revealed three key takeaways:

  • Those most likely to buy are ‘Older Millennials’ (ages 27-36) or ‘Generation X’ (ages 37-52)
  • Minorities, particularly African-Americans, were twice as likely to respond that they were considering buying a home this year than white respondents.
  • Many potential buyers believe they need to put 20% down and need to have perfect credit to own and are unaware of programs that would allow them to buy now.

Holden Lewis, a mortgage analyst for Bankrate.com, pointed to one big reason why many Americans are starting to consider homeownership:

“Having kids and raising a family is a primary reason why Americans take the leap into homeownership—many consider it a key component of the American dream.”


Decorating Ideas For Your Kids’ Bedrooms

Decorating Ideas For Girls’ Rooms

If you have a room that requires a feminine touch, don’t fret.  Decorating a girl’s room is not as intimidating as it may seem.  In fact, there are a number of ways that you can turn the bedroom of your little princess into her very own fairytale retreat.

Bedding Basics

Every little girl wants a beautifully decorated bed, which means colorful bedding is a must.  Whether it’s her favorite cartoon character or color choice, the right comforter and matching accent pillows can go a long way in making your little one’s room a truly customized space.

Finding A Fantastic Phone

Giving your little girl a telephone of her very own is a terrific way to let her enjoy a little extra privacy.  Choosing the right phone for a girl’s room is as simple as learning her favorite color and style.  If you are decorating the room with a specific color theme, it may be a good idea to choose a phone that matches the decor.  If your little one favors a specific cartoon character, look for a phone that depicts that image.

Colorful Additions

All children love color and when it comes to decorating, nothing achieves the task better than flowers.  If your little girl loves flowers, consider adding some framed artwork featuring various blooms in a fun pattern, some flowers that your little one can watch grow in her very own room or even wallpaper borders featuring colorful blossoms.

Wow Her Walls

If your little girl has a favorite color, consider adding it to her wall coloring.  You can always repaint the room a more neutral tone, such as beige, if you decide to sell the home in the future.  While it’s true that neutral shades are more attractive to potential homebuyers, the most important thing for now is to give your little girl a space that’s all her own.

Adding The Finishing Touches

Once you’ve painted a room and added the bedding, along with several other accents, it’s time to finish the project with a few last minute touches that will make your little girl’s room a palace fit for a princess.  Accent rugs, her favorite stuffed animals placed on the bed and a display shelf for her dolls or other collectibles are a few of the items that she’s sure to love.  Don’t forget to include some colorful pens, stationary, some stickers and matching envelopes for her to write letters to friends and family.

Now that you know how to decorate your little girl’s room, don’t forget to let her help with the item and color selections.  After all, it’s her room and she will thank you for it.

Decorating Ideas For Boys’ Rooms

If you have a room that requires a masculine touch, don’t fret.  Decorating a boy’s room is not as intimidating as it may seem.  In fact, there are a number of ways that you can turn your little man’s room into a space that he treasures.

Bedding Basics

Many young boys love sports, which means bedding that features a football, basketball, baseball, hockey or racing design may be a winner when it comes to decorating.  If your youngster isn’t exactly a sports fanatic, ask him about his favorite colors and find a way to work them into the bedding theme.  If necessary, you can always choose solid colors that work well together and still give your little boy a perfect space.

Phone Favorites

If your youngster wants a phone in his room, look for something that speaks volumes about his personality.  Perhaps a helmet phone, car-shaped phone or even a character phone would be the perfect choice.  Whatever it is, make sure that it reflects his own personal taste and is a phone that he will enjoy using.

This ‘n That

Every little boy loves something, right?  Does he love model airplanes or cars?  What about trading cards or sports?  Find out what he likes and incorporate it into the room.  You can place shelves on the walls, which will accommodate his action figures, comic books, sports memorabilia, etc.  If he collects autographs, display some of his favorites in a frame and hang them on the wall.

Wow His Walls

If you’re looking for the perfect wall coloring, simply ask your little one what he favors in terms of paint color.  In addition to a wide selection of wallpaper and/or borders, your local home improvement store will offer a choice of paint options that you can use to create a customized space for the No. 1 boy in your life.

You can always repaint the room a more neutral tone, such as beige, if you later decide to sell your home.  While it’s true that neutral shades are more attractive to potential homebuyers, the most important thing for now is to give your little man a space that’s all his own.

Adding The Finishing Touches

When all is said and done, the wall color has been chosen, the bedding has been bought and the major details have been selected, it’s time to think about adding the finishing touches.  Accent rugs, table lamps, decorative throws, clocks, posters and framed photos will complete a look that your little one is sure to love.  Now that you know how to decorate your little boy’s room, don’t forget to let him help with the item and color selection.  After all, it’s his room and he will thank you for it.

Listing in the Winter Attracts More Serious Buyers

A recent study of more than 7 million home sales over the past four years revealed that the season* in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.

It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest season for real estate. What is surprising, though, is that listing during the winter came in second.

“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.”

The study goes on to say that:

“Buyers [in the winter] often need to move, so they’re much less likely to make a lowball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”

If you are debating listing your home for sale in 2017, keep in mind that the spring is when most other homeowners will decide to list their homes as well. Listing your home this winter will ensure that you have the best exposure to the serious buyers who are out looking now!

*The study used the astronomical seasons to determine which season the listing date fell into (Winter: Dec. 21 – Mar. 20; Spring: Mar. 21 – June 20; Summer: June 21 – Sept 21; Autumn: Sept 21 – Dec. 20).