HOUSING UPDATE
Mistakes can cost you time, frustration, and money
If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more And, you’re juggling how all of those things will impact the choice you’ll make
While housing market conditions are definitely a factor in your decision, your own personal situation and your finances matter too As an article from NerdWallet says:
“Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation, life goals and readiness to become a homeowner.”
Instead of trying to time the market, focus on what you can control Here are a few questions that can give you clarity on whether you’re ready to make your move
1.DoYouHaveaStableJob?
One thing to consider is how stable you feel your employment is Buying a home is a big purchase, and you’re going to sign a home loan stating you’ll pay that loan back. That’s a big commitment. Knowing you have a reliable job and a steady stream of income coming in can help put your mind at ease when making such a large purchase.
2.HaveYouFiguredOutWhatYouCanAfford?
If you have reliable paychecks coming in, the next thing to figure out is what you can afford. That’ll depend on your spending habits, debt, and more. To be sure you have a good idea of what to expect from a number’s perspective, start by talking to a trusted lender.
They’ll be able to tell you about the pre-approval process and what you’re qualified to borrow, current mortgage rates and your approximate monthly payment, closing costs to anticipate, and other expenses you’ll want to budget for That way you can make an informed decision about whether you’re ready to buy.
3.DoYouHaveanEmergencyFund?
Another key factor is whether you’ll have enough cash left over in case of an emergency. While that’s not fun to think about, it’s an important thing to consider. You don’t want to overextend on the house, and then not be able to weather a storm if one comes along. As CNET says:
If you want to buy a home in today’s market, connect with a local real estate agent so you have a pro on your side who can help you avoid these missteps.
“You’ll want to have a financial cushion that can cover several months of living expenses, including mortgage payments, in case of unforeseen circumstances, such as job loss or medical emergencies.”
4.HowLongDoYouPlanToLiveThere?
It was mentioned above, but buying a home involves some upfront expenses And while you’ll get that money back (and more) as you gain equity, that process takes time If you plan to move too soon, you may not recoup your investment. For example, if you’re looking to sell and move again in a year, it might not make sense to buy right now. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
“Five years is a good, comfortable mark. If the price of your home appreciates considerably, then even three years would be fine ”
So, think about your future If you plan to transfer to a new city with the upcoming promotion you’re working toward or you anticipate your loved ones will need you to move closer to take care of them, that’s something to factor in.
5. Above all else, the most important question to answer is: do you have a team of real estate professionalsinplace?
If not, finding a trusted local agent and a lender is a good first step. The pros can talk you through your options and help you decide if you’re ready to take the plunge or if you have a few more things to get in order first
CONTACT YOUR REALTOR OR CLICK HERE!
MakeYourDreams ComeTrue
We’re here to help you find the home of your dreams. Ready to start a new life in a new place?
We’re here to help you purchase the home of your dreams. We know that buying a home is one of the most important decisions you will make. Few things give you more pride than owning your own home, and you will probably make no greater single investment in your lifetime We want to help you make that dream come true. There are many different types of loan programs you can choose from, and the best loan program for your neighbor may be different than the one that is right for you. From getting preapproved to finding the perfect home, understanding the home-buying process can help give you peace of mind. So can partnering with a mortgage lender you can trust. Put our expertise to work for you. Whether you ’ re building or buying your home, FBC is here to help you along the way!
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A great home-buying experience! Our experience couldn’t have been any better We never felt like a number or just another client to them They were patient with any If our questions, and put any concerns we had at ease with the mortgage process.
Learn more about mortgages, loan programs, and the loan process.
Trending Interior Design Features
for Midyear 2024
Halfway into the year, homeowners are resonating with wainscoting, curves, natural stone, and more. Here are some of the most popular interior design trends thus far in 2024.
Shiplap Is Out, Wainscoting Is In
Shiplap, particularly for accent walls and fireplace surrounds, has been immensely popular for years because of the warmth and texture it lends to an aesthetic, as well as for the role it plays in the popular farmhouse style. The horizontal lines of shiplap and its rustic, beveled grooves are being replaced with half-wall wainscotting, particularly beadboard. The flush appearance of beadboard offers cleaner, slightly more elegant lines, while still contributing visual texture
Bring on the Color
As 2024 has unfolded, the major design trend continues to be the reintroduction of color into the home, from bold and bright hues to stylish saturated shades, whimsical patterns, and dark and moody palettes Beyond embracing vibrant shades, homeowners are also applying these colors strategically for ultimate decor drama, including using color drenching and embracing the new sub-trends of dopamine decor and the unexpected red theory.
Curves
Nature-inspired, gentle curves that draw the eye gracefully are very much on trend in 2024 Architectural features, such as archways, and curved shelving units and accents, particularly mirrors, are hot What’s truly trending is curved furniture. Curved armchairs, sofas, and built-fortwo nest chairs are cozy, inviting and make intelligent use of floor space without overpowering it.
Statement Range Hoods
If the kitchen is the heart of the home, the trend towards statement range hoods puts an exclamation point on the style statement Homeowners are embracing creative opportunities with this once utilitarian appliance for a show-stopping focal point Popular choices include metallic accents, plaster, bold accent colors, custom finishes, and a host of interesting shapes.
Granite and Natural Stone
While engineered stone is still by far the most popular countertop material in North America, natural stone granite in particular is making a comeback Quartz has been the standard for stylish homeowners for years, because of its elegant aesthetic, relatively affordable price point and low maintenance requirements. However, between health concerns around the fabrication and homeowners leaning towards unique decor options, natural stone is gaining traction One of the big draws is the opportunity for one-of-a-kind style that comes with a slab of natural stone, with Mother Nature as the designer Fluted Cabinetry
Incorporating the simple beauty of wood into home decor, with fluted cabinetry and accents, such as furniture is trending. Warm woods are the cornerstone of the popular Japandi style
LIGHTING TRENDS TO BRIGHTEN YOUR HOME
The perfect light fixture combines functionality with artfulness, providing light and rounding out a beautiful space. This year, designers are leaning into the beauty of a well-crafted light fixture. Take inspiration from this year's lighting trends to make fixtures the center of attention in your home.
WEIGHTLESS MOVEMENT
Abstract and artful lighting trends gives the experience of an optical illusion. Suspended fixtures that appear to float in midair add a sense of movement and mystery to a room, while still properly lighting the space With nearly invisible structures, weightless pieces of visual art can range from petite, multidrop orbs to large interlocking rings or spirals.
MIXED ERAS
Today's lighting mixes both past and present design styles to create statement pieces. Modern renditions of traditional shapes pair contemporary LEDs with traditional silhouettes. Incorporate the idea in your own home through chandeliers, floor lamps, and wall sconces
FROM BLACK TO WHITE
This year, color palettes are shifting from dark, moody grays and blues to light and bright neutrals Opt for matte white on textured and painted metals for a soft finish.
AMBIENCE OUTDOORS
As outdoor spaces become more like sophisticated living rooms, choosing the correct lighting style is integral for upping the space's ambience. Beyond pathway lights, doorway sconces, and pendants, look for outdoor wall fixtures that cast soft background light from behind sleek silhouettes. Bonus features include dimmable controls and LED efficiency.
NATURE TRAITS
When incorporating nature into your home design, don't just think of natural materials like wood or caning. Look to nature's motifs, too. Light fixtures are being transformed into sculptural art with ornamental designs resembling organic shapes and textures found in nature, like foliage, small leaves, and buds.
STATEMENT STONE
Trending light fixtures showcase an interesting use of natural stone, including marble, alabaster, onyx, and travertine, often associated with kitchens and bathrooms. The materials give lighting fixtures an impressive impact while still being versatile and customizable Use black, white, or shades of green to add color to a room without detracting from the stone's natural beauty.
SMOKED GLASS
Used to give glass a more opaque look, smoked glass is made by applying layers of smoke residue during the glass-making process. Smoked glass is often used in showers, doors, and tables and appears as a cloudy gray color. But this year, designers are taking the technique in a new direction by incorporating amber, purple, and green in clear, ribbed, or seedy glass
MODERN LANTERNS
Boasting a classic structure, lantern-style fixtures are making a comeback with modern twists. Traditional black finishes offer nostalgia, but clean lines, see-through shapes, and accents in copper, brass, chrome, and gold turn these fixtures into contemporary showstoppers indoors or out
ADJUSTABLE COLOR TEMPERATURES
The color temperature of lighting plays a pivotal role in determining the mood of a room. Soft white lightbulbs create a sense of warmth while bright white bulbs feel crisp and cool Designers are taking lighting a step further by utilizing color-changing bulbs. Homeowners can now fill their spaces with color by using tunable LED bulbs with a built-in adjustability switch that allows for easy customization “These are easier to use and more accessible,” says Lovett “Everyone wants customizability ”
BENJAMIN MOORE
PAINT DESIGN BOARDS
See how new paint colors look on your home... BEFORE IT'S PAINTED! Be "Color Confident" with a Virtual Color Consultation
us your color erences, and take style quiz.
signers will create 3-5 initial for you to see online, then th you to create more designs u find the one you love
ustom Designs
eeling of knowing you'll nt color after your home
No more guesswork!
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