31
Aug 17

Empty Nesters: Best to Remodel or Time to Sell?

Empty Nesters: Best to Remodel or Time to Sell? | Simplifying The Market

Your children have finally moved out and you and your spouse now live alone in a four-bedroom colonial (or a similar type of house). You have two choices to make:

  1. Remodel your house to fit your current lifestyle and needs
  2. Sell your house and purchase the perfect home

Based on the record of dollars spent on remodeling and renovations, it appears that many homeowners are deciding on number one. But, is that the best long-term solution?

If you currently live in a 3-4-bedroom home, you probably bought it at a time when your children were the major consideration in determining family housing needs. Along with a large home, you more than likely also considered school district, the size of the property and the makeup of other families living in the neighborhood (example: you wanted a block with other kids your children could play with and a backyard large enough to accommodate that).

Remodeling your home to meet your current needs might mean combining two bedrooms to make one beautiful master suite and changing another bedroom into the massive walk-in closet you always wanted. However, if you live in a neighborhood that historically attracts young families, you may be dramatically undermining the value of your house by cutting down the number of bedrooms and making it less desirable to the typical family moving onto your block.

And, according to a recent study, you will recoup only 64.4% of a remodeling project’s investment dollars if you sell in the future.

Your home is probably at its highest value as it stands right now. Instead of remodeling your house, it may make better financial sense to sell your current home and purchase a home that was built specifically to meet your current lifestyle and desires.

In many cases, this well-designed home will give you exactly what you want in less square footage (read less real estate taxes!) than your current home.

Bottom Line

If you are living in a house that no longer fits your needs, at least consider checking out other homes in your area that would meet your lifestyle needs before taking on the cost and hassle of remodeling your current house.

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31
Aug 17

Check Out These Floor Plans From Your Favorite TV Businesses

(Image credit: Bizdaq)

If you’ve ever sat there, watching one of your favorite shows, and thought to yourself that hey, you might just know the layout of that house or that business nearly as well as your own, then you’re going to love these floor plans.

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31
Aug 17

Houston Mattress Store Is An Official Shelter Location for Harvey Evacuees

When bad things happen, Mr. Rogers said it best: “Look for the helpers.” The Mattress King of Houston is one such individual, as he’s opened his showrooms to Harvey evacuees.

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31
Aug 17

The 5/15 Rule Will Keep You Healthier at Work

(Image credit: Jacqueline Marque)

We’ve all read the studies—sitting all day, especially when combined with minimal exercise, can take a serious toll on your health. According to HuffPost, for example, long periods of sitting have been linked to diabetes, heart disease, cancer, and anxiety.

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31
Aug 17

The 10 Most Beautifully Organized Drawers on the Internet — Kitchn

(Image credit: IKEA)

From Kitchn → The 10 Most Organized Drawers on the Internet

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31
Aug 17

The Mega List of Labor Day Sales

Labor Day is coming up, and in between grilling and chilling on this unofficial last weekend of summer, there are lots of ways to save some cash. Retailers are marking down everything to make room for a new season (and new merch). Here’s our list of the biggest and best sales happening during Labor Day 2017.

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30
Aug 17

Number of Buyers Putting Down Less Than 10% Hits 7-Year High

Number of Buyers Putting Down Less Than 10% Hits 7-Year High | Simplifying The Market

According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high.

Many mortgage programs offered by agencies like Freddie Mac and Fannie Mae allow buyers to put down as low as 3% to purchase their dream homes. The strength of the housing market has aided buyers who used low-down-payment programs to buy. As a recent CNBC article points out,

“Defaults on recent low down payment loans, so far, are slow, but that is as much a factor of the good credit quality as it is the strength of the housing market. Home prices are rising incredibly fast, meaning those borrowers are gaining equity in their homes quickly.”

Low down payments aren’t just great for first-time homebuyers. These programs have allowed homeowners who want to capitalize on the equity they have in their homes to use the profit from their sale to pay off high-interest credit cards, fund education or even start a business.

According to a new Census Report, the Annual Survey of Entrepreneurs, home equity was used to start 7.3% of all businesses in the United States, which equates to over 284,000! The industries that saw the most growth from home equity are accommodation & food services, manufacturing and, retail trade.

Bottom Line

Gone are the days of ‘20% down or no mortgage.’ What could you build with the equity in your house? Let’s get together today to evaluate your ability to achieve your dreams today!

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30
Aug 17

Starbucks Is Closing Their Online Store — Here's What's On Sale

Coffee lovers, here’s a bargain for you: Starbucks is closing their online store as of October 1 and liquidating what’s left in it. So while you’ll no longer be able to order an insulated mug or a pour over coffee maker from them online after next month, you can snag those very things and more right now, for a sweet discount of up to 50 percent.

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30
Aug 17

A Classic, Light-Filled Minneapolis Apartment for One — House Tour

Name: Sarah Schwie
Location: South Minneapolis, Minnesota
Size: 750 square feet
Years lived in: 2 years, renting

Though Sarah has lived in her south Minneapolis rental for two years, she’s taken her time to fill the space. Just the perfect size for her and her cat — and filled with lots of natural light — it has plenty of whimsical vintage features to keep you peering around the corners the entire time you’re there.

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30
Aug 17

After Three Years, Plenty of Work (and Wine) a Historic Home is Reborn — House Call

Name: Justine, her husband Ian and their bulldog, Miss Waffles
Location: Edmonton, Alberta — Canada
The basics: 3 years, owned — 1,950 square feet

Justine and her husband jumped at the opportunity to breath life back into this historic home, affectionately known as The Madame. It took three labor heavy years, but they wanted to do the renovation right, preserving as much of the charm and history of the home as they could.

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