Found 12 blog entries tagged as Expenses.

 




Multi-generational living is on the rise. According to the National Association of Realtors (NAR), 17% of homebuyers purchase a home to share with parents, adult children, or extended family. That’s the highest share ever recorded by NAR (see graph below):

And what’s behind the increase? Affordability. NAR explains:

“In 2024, a notable 36% of homebuyers cited “cost savings” as the primary reason for purchasing a multigenerational home—a significant increase from just 15% in 2015.”

In the past, caregiving was the leading motivator – especially for those looking to support aging parents. And while that’s still important, affordability is now the #1 motivator. And with current market conditions, that’s not really a surprise.

Pooling…

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Retirement isn’t just a milestone. It's the beginning of something really special. After years of hard work, it’s finally time to slow down, explore new passions, and live life on your own terms.

But with this exciting chapter comes some big choices. And one of the biggest is this: does your current home still make sense for the lifestyle (and budget) you want in this next phase of life?

That’s an especially important question right now. Just in the past five years, the cost of living has jumped by 23% according to the Bureau of Labor Statistics (BLS). That’s based on the Consumer Price Index (CPI), which is how changes are tracked in the average price consumers pay for goods and services (see graph below):

When you’re thinking about how…

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When searching for a home, you don’t want to skip over new builds as an option. Right now, there are more newly built homes to choose from than there would normally be in the market. And those added choices come with some pretty incredible benefits. Talking to your agent is the best way to see if this type of home makes sense for you.

Here’s a quick rundown of some things your agent will walk you through – including a few of the top perks of buying a newly built home today and some potential things you’ll want to think about before you ink any contracts.

The Perks of Buying a Newly Built Home 

Customization Options: Many builders allow buyers to choose finishes, layouts, and upgrades so that you can personalize your home to your unique…

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A recent report from Realtor.com says 20% of Americans don’t think homeownership is achievable. Maybe you feel the same way. With inflation driving up day-to-day expenses, saving enough to buy your first home is more of a challenge. But here’s the thing. With the right resources and help, you can still make it happen.

There are options that can help make buying a home possible today — even if your savings are limited or your credit isn’t perfect. Let’s explore just two of the solutions that could help get you into your first home no matter the market.

1. FHA Loans

If your down payment savings and your credit score aren’t where you want them to be, an FHA loan could be your pathway to buying a home. According to the U.S. Department of…

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If retirement is on the horizon, now’s the time to start thinking about your next chapter. And you probably want to make sure you’re set up to feel comfortable financially to live the life you want in retirement.

What you may not realize is you likely have a hidden goldmine of cash you’re not thinking about — and that’s your home. Data from the Federal Housing Finance Agency (FHFA) shows that home values have gone up nearly 60% over the last 5 years alone (see graph below):

And that appreciation gave your net worth a big boost. According to Freddie Mac, over the same five-year period:

“ . . . Boomer overall wealth increased by $19 trillion, or $486,000 per household, half of which is due to house price appreciation.”

So if you’ve been…

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When you’re ready to move, figuring out what to do with your house is a big decision. And today, more homeowners are considering renting their home instead of selling it.

Recent data from Zillow shows about two-thirds (66%) of sellers thought about renting their home before listing, with nearly a third (28%) taking that possibility seriously. Compared to 2021, when fewer than half (47%) of homeowners considered renting before selling, it’s clear this trend is on the rise.

So, should you sell your house and use the money toward your next home or keep it as a rental to build long-term wealth? Let’s walk through some important questions to help you determine the right path for your financial and lifestyle goals.   

Is Your House a Good Fit…

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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…

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Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below):  


That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know.   

How Higher Mortgage Rates Impact You  

There’s no denying mortgage rates are higher right now than they were in recent years. And, when rates are up, that affects overall home affordability. It works like this. The higher the rate, the more expensive it is to borrow money when you buy a home.…

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Some Highlights

  • While remote work peaked during the pandemic, many people still work from home today.
  • If you’re one of them, it could have an unexpected benefit when you’re looking to buy a home.
  • If you can work from home, you might have more choices for where to live. Let’s connect to talk about your options and what's most important to you.

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Some Highlights

  • Wondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady.
  • Rents typically increase with inflation. Maybe that’s why, according to a recent survey, 65.1% of landlords say they plan to raise the rent of at least one of their properties within the next 12 months.
  • Especially when inflation is up, having a stable housing payment can be helpful. Let’s connect so you can learn more and start your journey to owning a home today.

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