Central Iowa Real Estate BlogRecently posted or modified blog postshttps://www.realadvantagepartners.com/blog/Copyright RealAdvantagePartners.com2024-03-01T07:19:46-07:00tag:realadvantagepartners.com,2012-09-20:2450Financial Fundamentals for Homebuyers<img src="https://files.keepingcurrentmatters.com/wp-content/uploads/2021/01/21113622/20210122-NM.png" alt="Financial Fundamentals for Homebuyers [INFOGRAPHIC] | Keeping Current Matters" /><br /><br />Main points:
When you’re thinking about buying a home, there are a few key steps to take before you even start to look at houses.
From saving for your down payment to getting pre-approved for a mortgage, you’ll want to make sure you keep your financial plan on track from the beginning.
Reach out to our RAP team and one of our trusted lender today to make sure you have the best possible guidance as you begin your homebuying process.
home for sale in ankeny iowa<br />homes for sale in ankeny iowa<br />house for sale in ankeny iowa<br />condos for sale in ankeny iowa<br />condominiums for sale in ankeny iowa<br />Buy real estate in ankeny iowa<br />Sell real estate in ankeny iowa<br />buy a home in ankeny iowa<br />buy a house in ankeny iowa<br />buy a condo<br />buy a condominium<br />sell my condo<br />sell my condominium<br />buy a lot<br />sell a lot<br />sell land<br />buy land in ankeny iowa<br />list my home in ankeny iowa<br />list my house<br />list my condominium<br />list my condo<br />home prices<br />condo prices<br />condominium prices<br />local realtor in ankeny iowa<br />realtor near me<br />hire a realtor<br />real estate broker<br />real estate agency in ankeny iowa<br />real estate agent in ankeny iowa2024-03-18T12:20:00-07:002024-02-12T08:19:04-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7456Compact Living ExplainedThe notion of compact living has gracefully transitioned from a mere trend to a lifestyle embraced by many. The essence of compact living is not merely confined to the physical dimensions of a dwelling but extends to a philosophy that champions efficiency, simplicity, and mindful living.
Urbanisation, a phenomenon sweeping across the globe, has left a distinct imprint on the housing landscape. Cities, with their vibrancy and multitude of opportunities, have drawn populations into their buzzing embrace, subsequently propelling demand for housing that starkly outweighs supply. This imbalance has not only escalated property prices but also paved the way for smaller, more economical living spaces to become the norm. The concept of downsizing, once perceived with a degree of skepticism, has now blossomed into a movement, with more individuals and families opting for homes that may be limited in space but are abundant in charm and potential.
The motivations steering this shift are multifaceted, encompassing financial considerations, an aspiration for a simpler lifestyle, and often, a conscious decision to reduce one’s carbon footprint.
Economic advantages: Compact homes, with their reduced square footage, generally come with a smaller price tag and ongoing maintenance costs. This economic efficiency extends to utility bills, where heating a smaller space invariably consumes less energy and incurs lower expenses. For homeowners, this translates to financial breathing space, enabling them to allocate funds towards other aspects of their lives, such as travel, education, or investments.
Environmental impact: Smaller spaces, when designed thoughtfully, inherently require less energy for heating and cooling, thereby reducing the dwelling’s carbon footprint. Moreover, compact living often demands a mindful approach towards consumption, encouraging residents to purchase only what is needed and thus, indirectly promoting a lifestyle that is considerably less taxing on our planet.
Simplified lifestyle:Embracing a compact living space often heralds a decluttering of not just physical possessions but also, metaphorically, one’s life. The limited space necessitates intentional choices about what to keep and what to discard, prompting a way of living that prioritises quality over quantity. This simplicity can inadvertently foster a tranquil living environment, where every item has a purpose and a place.2024-03-15T11:14:00-07:002024-02-12T08:02:49-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:4178Quiz: Real Estate MythsIt's mid-term, so you know what that means - POP QUIZ! Don't worry. We'll go easy on you. It’s just TRUE or FALSE:<br /><br />TRUE or FALSE: You need 20% down to buy a house. <br />False. In fact, the average first-time buyer puts down 6%, with some loan programs allowing as little as 3% or even zero down. <br /><br />TRUE OR FALSE: I don’t need to shop for mortgage rates. They’re all the same.<br />False (again!): Like any big purchase, you’ve got to comparison shop! Not all mortgage rates are the same, not to mention closing costs and other fees vary from lender to lender.<br /><br />TRUE OR FALSE: I can save by hiring a real estate agent to help sell my home. <br />True: FSBO homes tend to sell for 26% less than agent-assisted homes. Want that in dollars? In 2020, FSBO homes sold for a median of $217,900. Agented-assisted homes? $295,500.<br /><br />How’d you do? Aced it, no doubt! If you have other mortgage or real estate questions on the brain, drop them in the comments below. We are happy to answer!2024-03-13T08:36:00-07:002024-02-12T08:20:43-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7620How Much Do You Need to Save for a Comfortable RetirementOne of the most common retirement questions is, "How much do I need to save for a comfortable retirement?" In this blog, we'll delve into the key factors that influence this calculation and provide insights to help you plan for a secure and enjoyable retirement.
Determine Your Retirement Goals:<br />The first step in estimating how much you need to save for retirement is to identify your goals and aspirations. Consider the lifestyle you envision during retirement – do you plan to travel extensively, downsize your home, or engage in expensive hobbies? These aspirations will play a significant role in determining your retirement savings target.
Calculate Your Retirement Expenses:<br />To gauge your retirement savings needs, estimating your future expenses is crucial. List essential expenses such as housing, healthcare, groceries, utilities, and transportation. Then, factor in discretionary expenses like entertainment, travel, and leisure activities. Be realistic and consider inflation's impact on living costs over time.
Assess Sources of Retirement Income:<br />Your retirement income won't solely come from your savings. Social Security benefits, pension plans, and other investments may contribute to your financial security during retirement. Understanding the potential income streams available to you will help you determine the gap that needs to be filled by your savings.
The 4% Rule:<br />A popular rule of thumb in retirement planning is the 4% rule. This rule suggests that you can withdraw 4% of your retirement savings annually, adjusting for inflation, without depleting your nest egg over a 30-year retirement period. While this rule provides a starting point, individual circumstances may necessitate a more tailored approach.
Consider Longevity:<br />Increased life expectancy is a positive trend, but it also means you'll need to finance a longer retirement period. Failing to account for a longer retirement can result in outliving your savings. To make a realistic estimate, factor in your family's longevity history and current health status.
Investment Returns and Risk Tolerance:<br />The returns you earn on your investments will significantly impact your retirement savings. Generally, a diversified portfolio can help balance risk and return. However, as you approach retirement, you might want to adjust your portfolio to be more conservative, with a greater emphasis on income generation and capital preservation.
Professional Financial Advice:<br />Calculating retirement savings can be complex, considering the many variables involved. Seeking advice from a certified financial planner can provide personalized insights based on your unique circumstances. A financial professional can help you align your goals with a comprehensive retirement plan.
Start Early and Be Consistent:<br />Time is a powerful ally when it comes to retirement savings. The earlier you start saving, the more time your investments have to grow through compound interest. Consistent contributions, even relatively small, can add up significantly over the long term.
2024-03-11T08:24:00-07:002024-01-25T13:13:31-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7455What are Pre-Paid Closing Costs?Pre-paid costs when buying a home are the expenses you pay upfront at closing. While the exact amount will vary depending on your loan and property location, pre-paid costs typically include homeowners insurance, property taxes, mortgage interest and an initial escrow deposit. If you live in a community with a homeowner association, they may also include HOA dues.
Here is a list of pre-paid costs and their definitions
Initial escrow deposit: A mortgage escrow account, also called an impound or trust account, allows borrowers to manage the costs associated with owning a home. If you have an escrow account, your monthly mortgage payment includes part of your expected property tax bill and hazard insurance premium. This ensures that when each payment is due, there are funds in your account to cover them. The advantage of an escrow account is that it allows you to spread out your tax and insurance bills into monthly installments rather than worrying about paying a large sum annually. An initial escrow deposit is what you’ll pay at closing to start your escrow account if one is required.
Homeowners insurance: When you take out a home loan, you must carry homeowners insurance to protect your property against losses and damage. Homeowners insurance is also sometimes referred to as “hazard insurance.”<br />You get to choose your insurance company. The Consumer Financial Protection Bureau recommends you “comparison shop to find the insurance policy you want and to learn if the amount the lender estimated is accurate for your specific situation.” Expect to pay the first six to 12 months of homeowners insurance premiums at or before closing, plus two- or three-months’ payments in advance to set up an escrow account.
Pre-paid interest: Interest paid in advance is known as pre-paid interest. When you close, this charge covers the cost of borrowing money between the date your home sale closes and the first day covered by your first monthly mortgage payment.
Real estate property taxes: Property taxes on real estate are used to pay for public services like roads, schools and libraries. When homeownership transfers to you, so does the responsibility for paying property taxes. If the seller pre-paid the entire year of property taxes, you’ll likely need to pay a prorated portion for the remainder of the year.
A mortgage loan estimate (LE) is a complimentary service that that mortgage lenders often provide, giving you an idea of what to expect if you decide to move forward with your home loan. You’ll typically find a list of pre-paid costs in your LE along with your loan amount, the interest rate, APR, closing costs and a ballpark figure of your monthly mortgage payment.
Have questions? We're happy to help, including connecting you with an experienced mortgage expert.2024-03-08T11:59:00-07:002024-01-24T07:00:55-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7888RAP Review: 'Very Patient and Helpful'"Mia and Angela were very patient and helpful in our search for a new home. We love the place and would highly recommend either one of them.”
- Steven Carver2024-03-06T07:57:00-07:002024-02-12T08:20:21-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7693Pros and Cons of Putting Your Home in a TrustWhile it might seem like putting your home in a trust would be nothing but advantageous, that may not necessarily be the case. Due to your unique financial situation and goals, it’s important that you understand the pros and cons of this decision.
Pro: Avoiding the Probate Process
Again, trusts are designed to avoid<a href="https://law.freeadvice.com/estate_planning/probate/probate_cost.htm" target="_blank" rel="noopener"> probate and the burdensome costs</a> that often go along with it. While it’s true that some states have come a long way in terms of streamlining those kinds of costs, avoiding probate remains one of the main priorities for people pursuing a living trust. Homeowners who are interested in putting their house in trusts want to make sure their heirs can take over ownership of the home with as little time and money spent on the process as possible.
Similarly, a trust can be used to transfer other properties, too, even if they’re located in other states. By using a trust for those other properties, you’ll avoid probate costs for them, as well.
Pro: Defending Against Future Health Problems
No one likes thinking about a time when they may be unable to manage their own affairs because of illness, but it’s an important topic to confront as we get older. After all, while not common, that sort of thing certainly does happen.
Putting your home in a trust is an effective way to protect against something like a stroke getting in the way of how the property is managed and, eventually, transferred.
Instead, a new trustee will be able to fulfill the provisions of your trust, including what you intended for your house and any other properties.
Make your<a href="https://pocketsense.com/add-cotrustee-living-trust-7741393.html" target="_blank" rel="noopener"> spouse your co-trustee</a>, and this becomes even easier. They can remain as your trustee while also managing your home (or homes) because it’s protected by the trust.
Pro: Possible Reduction of Estate Taxes
Putting your home in a trust won’t actually grant you any sort of favorable tax advantage. That’s a common misconception. As a<a href="https://www.investopedia.com/ask/answers/071615/what-difference-between-revocable-trust-and-living-trust.asp" target="_blank" rel="noopener"> living trust is revocable</a>, it can also be modified or even dissolved altogether, which would make it a formidable weapon against proper tax collection if the IRS offered special terms to grantors.
However, you might be able to reduce your estate-tax obligation if your estate is designed with this purpose in mind. This is why you should take some time to work with an experienced estate planner. Put things in order first, and then put your home in a trust to save on taxes.
Con: Complexity and Resulting Costs
With all that being said, many homeowners look at the costs and complexity involved with designing a trust and decide it would make much more sense to opt for a simple will.
Furthermore, things can get even more complicated as time goes on. If you think you’ll be buying or selling properties in the future, you’ll need to be very diligent about how you move them in and out of your trust.
Of course, those kinds of transfers will come with more costs, as well, which is one more reason many owners decide they’ll use a will instead.
How Does it Work to Put a Home in a Trust
To transfer property to a trust, you’ll need the assistance of an estate planning attorney or a law firm specializing in trusts and estates. They can help you set up either a revocable living trust or an irrevocable trust, depending on your financial goals and needs. The attorney will draft a trust agreement that outlines the terms and conditions, as well as designating a successor trustee to manage the trust after the grantor’s death.
Once the trust is established, the property’s title is transferred to the trust, and the trust becomes the legal owner. Other assets, such as bank accounts and investments, can also be placed in the trust for streamlined estate management.2024-03-04T12:59:00-07:002024-01-17T13:05:48-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:8032These Video Doorbells Have Terrible SecurityResearchers at Consumer Reports found vulnerabilities in popular video doorbells on major online retail sites including Amazon, Walmart and Temu, according to a new report. Hackers could use a companion app to take over the devices and view camera footage, the report found.
The doorbells were sold under a variety of brand names, mainly Eken and Tuck, on Amazon, Walmart, Sears, Shein and Temu. All the doorbells paired with the app Aiwit and were manufactured by the Chinese company Eken Group Ltd., Consumer Reports said. Some doorbells were also missing a registration code required by the Federal Communications Commission.
"Products like these, by failing to prioritize trust and safety, put domestic violence victims at risk. Without question, the one place a victim needs to be safe is in their home,” Adam Dodge, CEO of EndTAB, a nonprofit that provides information on how to combat technology-enabled abuse, told Consumer Reports. “Devices designed to make someone feel safe at home, while actually doing the opposite, shouldn’t be allowed on the market."
If you bought a vulnerable doorbell from one of these marketplaces, consider switching to a larger, better-vetted brand such as Ring or Nest.
Vulnerable doorbells from Eken Group were sold under many brand names, including the following:
Eken<br />Tuck<br />Fishbot<br />Rakeblue<br />Andoe<br />Gemee<br />Luckwolf2024-03-01T08:14:00-07:002024-03-01T07:19:46-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7694What to Know About Wall TexturesWall texture is an important aspect of interior decoration that can add depth and character to a room. There are various types of wall textures available, each with its own unique look and feel. Choosing the right texture can enhance the overall aesthetic appeal of a room and make it more visually interesting.
Basic Texture Types<br />When it comes to wall textures, there are several basic types that are commonly used in home construction and remodeling. Each type has its own unique look and feel, and can be used to achieve a variety of different effects. Here are some of the most common basic texture types:
Smooth<br />Smooth wall texture is exactly what it sounds like – a completely smooth surface with no visible texture or pattern. This type of texture is often used in modern or minimalist design schemes, as it creates a clean and simple look. It can also be used as a base for other types of texture, such as stenciling or painting.
Popcorn<br />Popcorn texture, also known as acoustic texture, is a type of texture that has a rough, bumpy surface. It is often used to hide imperfections in the wall, such as cracks or dents. Popcorn texture is typically created by spraying a mixture of water and drywall compound onto the wall, and then using a special texture roller to create the bumpy surface.
Knockdown<br />Knockdown texture is similar to popcorn texture, but with a smoother finish. It is created by spraying a mixture of water and drywall compound onto the wall, and then using a trowel or other tool to flatten the bumps and create a more subtle texture. Knockdown texture is often used in more traditional or rustic design schemes.
Orange Peel<br />Orange peel texture is a type of texture that has a slightly bumpy surface, similar to the skin of an orange. It is created by spraying a mixture of water and drywall compound onto the wall, and then using a special texture roller to create the bumpy surface. Orange peel texture is often used in contemporary or transitional design schemes, as it creates a subtle texture without being too busy or distracting.
Specialty Textures
Venetian Plaster<br />Venetian plaster is a specialty wall texture technique that originated in Italy. It is typically made from a mixture of marble dust, lime, and water, which is then applied in thin layers to create a smooth, polished finish. This technique is often used to create a high-end, luxurious look in homes and commercial spaces.
One of the benefits of Venetian plaster is its durability and resistance to moisture, making it a great option for bathrooms and kitchens. It can also be tinted to a wide range of colors, allowing for customization to fit any design aesthetic.
Spanish Lace<br />Spanish lace is a texture technique that creates a subtle, lace-like pattern on walls. It is achieved by applying a base coat of paint or texture, followed by a second coat applied with a special roller or brush. The tool used creates a pattern of small, raised dots that resemble lace.
This technique is often used in more traditional or vintage-style homes, but can also be used in modern spaces for a unique twist. Spanish lace can be customized by using different colors or by varying the size and spacing of the dots.
Sgraffito<br />Sgraffito is a technique that involves scratching or carving into a layer of plaster or paint to reveal a contrasting color or texture underneath. This technique can be used to create intricate designs or patterns on walls, adding a unique and artistic touch to any space.
Sgraffito can be done with a variety of tools, including knives, brushes, and even combs. It can also be done with a variety of materials, including plaster, paint, and even concrete. This technique is often used in commercial spaces or public buildings to create a visually striking and memorable feature.2024-02-28T13:09:00-07:002024-01-17T13:17:36-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7624Money Advice No One Wants to Hear1. Invest the maximum possible in your health savings account
When it comes to retirement planning, most of us have heard that we should max out our IRA or 401(k). But a just-as-helpful retirement tool that you should also max out is your <a href="https://www.businessinsider.com/personal-finance/what-is-a-health-savings-account-hsa-save-money" data-analytics-product-module="body_link" rel="" data-analytics-post-depth="60" data-mrf-link="https://www.businessinsider.com/personal-finance/what-is-a-health-savings-account-hsa-save-money" cmp-ltrk="Article links" cmp-ltrk-idx="3" mrfobservableid="35dab282-6149-4094-8042-6501a734ed29">health savings account</a>.
An HSA is a tax-advantaged savings account created in 2003 to help people with high-deductible health plans pay for out-of-pocket medical expenses. Although the purpose of an HSA is to save money for inevitable healthcare expenses, you can just as easily use your HSA as an investing tool.
An HSA is the only account that allows you to pay no taxes at all on contributions, growth, or withdrawals. Invest your HSA funds and avoid reimbursing yourself for those expensive braces or doctor visits, and you'll come out ahead in the long run. Also, if you leave your HSA money in your account until age 65, you can withdraw your HSA funds for non-medical expenses at any point.
2. Put your investments on auto-pilot
After juggling work, family, and hobbies, the last thing most of us want to think about is actively trading a portfolio. That's why one of the best ways to set yourself up for the future is through an employer-sponsored retirement plan. These are attractive, passive options that most employees can take advantage of. All you have to do is select how much of your paycheck you want contributed each pay period. The best strategy is to put your investments in a total market index fund or exchange-traded fund, and then forget them.
3. Avoid lifestyle creep
After a salary increase, many people immediately consider upgrading their house or vehicle. However, studies have shown that cars, houses, etc. can become quickly acclimated to, so the uplift in happiness is short-lived. If you can avoid this tendency for lifestyle creep and instead boost your savings and investments when you get a raise or bonus, you can significantly decrease your financial stress.
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4. Start saving for retirement as early as possible
To see the importance of investing earlier rather than later, let's look at this example : Two people save $100 a month for retirement, each has a 5% annual compound rate of return, but one starts at 25 and the other starts at 35. The one who started at 25 will have saved nearly twice as much by age 65. The person who started investing at 25 will have roughly $162,000 in their account, while the person who started at 35 will only have $89,000. This is the power of compound interest. The 25-year-old investor would have only invested $12,000 more of their own money, yet they would have over $70,000 more than the person who started at 35.2024-02-26T10:30:00-07:002024-01-08T10:51:55-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7962It’s Time To Prepare Your House for a Spring ListingIf you're thinking of selling your house this spring, now is the perfect time to start getting it ready. With the market gearing up for its busiest time of year, it'll be important to make sure your house shines bright among the competition, both in-person and in that most critical part of marketing - professional photography.
Here are some valuable tips you can use to get your house market-ready:
Declutter and Organize
First impressions matter, and if your house is a mess, that can easily turn off potential buyers. Before listing, take the time to declutter and organize each room. Decluttering is about more than just tidying up – it's about creating a sense of space, openness and light that allows potential buyers to see themselves living in your home. <a href="https://www.moving.com/tips/how-to-declutter-your-home-before-moving/" rel="noopener noreferrer" target="_blank">According</a> to Moving.com:
“Decluttering and organizing your space will go a long way in appealing to potential buyers. . . .decluttering will help the buyers see themselves living in your home. Less clutter inside a home also helps a place appear larger and cleaner, which should attract more buyers.”
Deep Clean Your Kitchen and Bathrooms
Kitchen and bathrooms are focal points for many buyers, and often influence their overall opinion of the house. Ensure these spaces dazzle by giving them a thorough deep cleaning. Pay attention to details like scrubbing grout lines, polishing fixtures, and decluttering countertops. A sparkling kitchen and bathrooms can leave a lasting positive impression on potential buyers.
Maintain Your Yard
Your home’s exterior is the first thing potential buyers see, so it’s important to make a good impression from the moment they arrive. A well-maintained yard not only enhances curb appeal, but also shows buyers the home has been well taken care of.
Take the time to spruce up your yard by mowing the lawn, trimming bushes, and clearing away any debris or dead plants. Remember, the goal is to create a welcoming environment that entices buyers to step inside and imagine themselves living there. U.S. News <a href="https://realestate.usnews.com/real-estate/articles/easy-ways-to-add-curb-appeal-to-your-home-this-fall" rel="noopener noreferrer" target="_blank">says</a>:
“A beautifully landscaped front yard can elevate an ordinary house into a charming home and will help homes sell faster and for more money.”
Find a Helpful Listing Agent
A skilled listing agent is your partner in minimizing stress when selling your home. That is a priority for our team, so you can lean on us agent for advice on decluttering, staging, and enhancing your home's appeal to potential buyers. We can also make sure you are fully informed about market trends and recommendations for reliable contractors.
Bottom Line
By decluttering, deep cleaning, and tidying up your house and yard, you can create a welcoming environment that resonates with buyers and increases your chances of a successful <a href="https://www.simplifyingthemarket.com/en/2023/12/18/why-now-is-still-a-great-time-to-sell-your-house/?a=588950-ce9d29f00b3c6e6c219a407e79506495" rel="noopener noreferrer" target="_blank">sale</a>. Let’s connect on what you need to do to get your house ready to sell this spring.2024-02-23T08:26:00-07:002024-02-19T08:46:05-07:00Angela Mckenzietag:realadvantagepartners.com,2012-09-20:7628RAP Review: ‘Listens to the Needs of Her Clients’“Deb is awesome! Shec cares about the big picture and listens to the needs of her clients! I'd recommend her to anyone. She is easy to work with and wants to do the right thing in helping people find their new homes!”
-Benjamin Stone2024-02-21T10:57:00-07:002024-01-08T11:06:14-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7625IRS Raises Retirement Contribution LimitsAmericans will be able to save more money for retirement in tax-advantaged accounts in 2024 thanks to an inflation adjustment from the IRS.
The 2024 401(k) contribution limit is $500 higher than this year’s <a href="https://money.com/401k-ira-contribution-limits-2023/" style="font-size: 17px;">$22,500 max</a>, which reflected a major increase from the 2022 limit of $20,500. The new $23,000 limit will also apply to several other retirement plans, including 403(b)s, most 457 plans and the federal government’s Thrift Savings Plan.
Each year, the IRS looks at changes in the cost-of-living and adjusts the contribution limits accordingly based on a formula. The consumer price index showed inflation was 3.7% for the 12-month period ending in September, which is the basis of the adjustment.
In addition to the new 401(k) contribution limit, the IRS also announced new maximums for contributions to traditional individual retirement accounts, or IRAs. These accounts are not employer-sponsored and their limits are lower, but they are tax-deferred like 401(k)s.
Individuals can contribute up to $7,000 to these accounts in 2024, up from $6,500.
The 2024 contribution limit will be the same ($7,000) for Roth IRAs, which you fund with after-tax dollars but have the benefit of withdrawals in retirement being tax-free. There are also new income caps for making contributions to Roth IRAs. The 2024 limit will be $161,000 for single taxpayers — an increase from $153,000 in 2023 — but note that Roth IRA tax benefits get phased out at lower income levels.2024-02-19T10:41:00-07:002024-01-08T10:51:03-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7897Your February Home Maintenance ChecklistBad news: If you haven't attacked some home maintenance items for the month, we're already past the February halfway point (darn you, short month!) Good news: There is a better chance that the last half of the month will be nicer than the first half (theoretically). So we're even suggesting a couple of outdoor projects.
Prune<br />If winter storms broke branches in your trees or shrubs, a warmish February day when rain is not in the forecast for at least 24 hours is a great time to tidy up.
Tune up outdoor features
A warm afternoon also offers an opportunity to repair a sagging gate, reset a wobbly steppingstone or attend to another outdoor repair that isn’t too involved.
Prepare to mow
Lawn-mowing season might not begin for another month (or two), depending on where you live. But if you wait until then to check whether your mower, string trimmer and other gear are in good shape, you will probably encounter a backup at the repair shops.
Repair walls, touch up paint
Cold days present the chance to repair dings and scuffs on painted walls and trim. Scuffs, crayon marks and grime might wipe off if you use a damp melamine-foam sponge, such as a Mr. Clean Magic Eraser. If the paint still looks dingy, or if there are dents that need filling, try touching up the worst areas. After repairing, brush drywall primer (not primer formulated to block stains) over the dried patches. Then repaint the area.
Clean closets
There are a few good reasons to give closets a thorough cleaning once a year. For starters, you can purge what you never wear and create space, so the clothes you keep don’t wrinkle when you jam them in with the stuff you never wear anyway. This is also the time when charities start to run short because people wait for "spring cleaning" (often put off until summer) to donate. And - bonus - you'll probably rediscover clothing you love but lost track of.
Clean the medicine cabinet<br />Here, too, it makes sense to take everything out, clean the space, then put back only what you still need. But if you find medications that are expired or that you no longer take, be careful to dispose of them properly. By far the best option is to take them to a drug takeback location, such as a pharmacy or police department.2024-02-16T14:30:00-07:002024-02-29T12:57:55-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:769115 Ways to Show Love to Your HomeIt's Valentine's Day - a day to express your love. So why not send some to the place you call home? It doesn't have to cost a lot, plus you'll be investing in yourself. Jump below for 15 ways to love your home (so it loves you back):
1. Choose 10 things. And donate them, throw them away or repurpose them. It’s easy for stuff to pile up but if you grab a bag and walk through the house it’s almost guranteed that you’ll be able to find 10 things that you either don’t love, don’t use, or is broken (and not worth fixing). Get these things out.
2. Rearrange. You choose big or small. Rearrange the living room or rearrange the bottles you have out on the counter in the bathroom. When we rearrange our homes they look new and fresh.
3. Rotate. Rotates your accessories so that you can easily change the palette of each room. Store the accessories you're not using and refresh your home without buying anything.
4. Add some yellow. Yellow is bright, fun and full of cheer. It’s modern and there are a lot of ways to incporporate it into your home.
5. Add a plant or flowers. Fresh flowers might be too expensive an indulgence to do all the time, but a nice little mint plant growing in the kitchen or some beautiful succulents out on the porch can breath some life into your abode. Research some foolproof house plants.
6. Clean. Choose a room and <a href="https://www.apartmenttherapy.com/10-weekend-cleaning-projects-that-make-a-big-impact-094299">really clean it</a>: mop the floors, dust the shelves, the doorjambs and everyhing in between. See how different you feel afterwards.
7. Light it up. Do you have three points of light in the living room or just a torch lamp in the corner. Rooms feel bigger, more grown up and have better ambience if you use at least 3 light sources in a room.
8. Eat meals at home. We’ve talked about it often, but eating meals at home instantly makes home feel like a place you want to be (in fact, sometimes for us it’s just knowing the fridge is full of food).
9. Privacy. Do your curtains give you privacy at night? Could they do a better job? You want to feel comfortable at home and having privacy is a big part of that.
10. Zone your space. Now is a good time to reevaluate how you’re using your space. Do you often have people over to watch movies and yet your desk takes up half the living room? Or the opposite: do you rarely have people over and you work from home and your desk is shoved into a tight little corner? Make sure your home is supporting the activities you do inside of it.
11. Good Rest. Is it time to change the sheets or clean off the nightstands? The bedroom is uber important for helping us get good rest so we feel good in our lives. Do you have ratty old sheets or just a color you can’t stand? Start saving up for some sheets that are amazing. If we ever get our gumption up, we’re buying linen sheets.
12. Frequent a local thrift store. You never know what you’ll find and when you find something you love, it’s normally pretty affordable. We stop at the Salvation Army once a week and look for paintings, pottery, lamps and small accessories. We’ve started to build a collection and when we make a mistake, we just donate it right back.
13. Add Art. If you’ve been afraid to hang art, now’s the time. A space becomes a home when there is stuff on the walls. We love pairing family photos with vintage postcards and funny paintings. You can also rearrange your artwork to create a new feeling in the house.
14. Get a good book. Let yourself read in bed (in your cleaned out bedroom). This helps slow down your day and let’s you drift off into sleep. Quality of life skyrockets.
15. Indulge. Is there a bathsoap you really like? Flowers you really like? Love having fresh rasberries in the fridge? Choose something you love having around and, if you can afford it, splurge. If you can’t afford it, find something you can afford to splurge on and get it.
2024-02-14T12:30:00-07:002024-01-17T12:46:58-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:76227 Effective Ways to Reduce Financial StressWhether managing bills, saving for the future, or dealing with unexpected expenses, money-related worries can affect our overall well-being. However, the good news is that there are proactive steps you can take to reduce the burden of financial stress.
Create a Realistic Budget<br />One of the most fundamental ways to alleviate financial stress is by creating a detailed budget. A budget provides a clear overview of your income, expenses, and financial goals. By tracking your spending patterns, you can identify areas where you can cut back and allocate resources more effectively. Creating a budget helps you manage your money better and gives you a sense of control over your finances, reducing stress in the process.
Build an Emergency Fund<br />Life is full of uncertainties, and unexpected expenses can arise anytime. Building an emergency fund can be a safety net during challenging times, such as medical emergencies or sudden job loss. Having a cushion of savings can significantly reduce financial stress, as you'll have the peace of mind that you're prepared for the unexpected.
Prioritize Debt Management<br />Debt can be a significant source of financial stress. Whether it's credit card debt, student loans, or mortgages, carrying excessive debt can weigh heavily on your mind. Develop a debt repayment plan that suits your financial situation and stick to it. As you chip away at your debts, you'll experience a sense of accomplishment and relief, knowing you're actively taking control of your financial future.
Practice Mindful Spending<br />Mindful spending involves being conscious of your spending habits and making intentional choices about where your money goes. Before making a purchase, please take a moment to consider whether it aligns with your priorities and needs. By practicing mindful spending, you can avoid impulsive purchases and make more informed decisions, leading to better financial outcomes and reduced stress.
Focus on What You Can Control<br />It's important to acknowledge that not everything in the realm of finances is within your control. Economic fluctuations and unforeseen events can impact your financial situation. Instead of fixating on factors beyond your control, channel your energy into aspects you can influence. This shift in perspective can help you feel more empowered and less stressed about circumstances beyond your immediate control.
Invest in Financial Literacy<br />Knowledge is power when it comes to managing your finances. Take the time to educate yourself about personal finance topics such as investing, saving strategies, and retirement planning. The more you understand your options and make informed decisions, the more confident you'll manage your money. This increased confidence can significantly reduce financial stress.
Seek Professional Guidance<br />If financial stress becomes overwhelming, don't hesitate to seek help from financial professionals. Financial advisors can provide expert guidance tailored to your unique situation, helping you make sound financial decisions and navigate challenges. Having a professional by your side can give reassurance and direction, reducing stress and uncertainty.
2024-02-12T10:18:00-07:002024-01-08T10:20:11-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7448Benefits of Buying New ConstructionWhen you buy a new construction home, you reap a number of benefits that you may not get with an older home. If you are in the market for a new home, here are some benefits to buying new construction.
Benefit 1: Energy Efficiency
One of the main benefits of buying a new construction home is that they are much more energy efficient than older homes. New construction homes are built with energy efficiency in mind and often include features such as double-paned windows and energy-efficient appliances. This can save you money on your utility bills and help reduce your carbon footprint.
Benefit 2: Warranties
Another great benefit of buying a new construction home is that most building materials will be under warranty. This means if something goes wrong, you may be able to get it fixed without having to foot the entire bill yourself. In addition, many new construction homes also come with a warranty from the builder, so if there are any major problems with the home, you may be covered there as well.
Benefit 3: Personalization
When you buy an older home, you generally have to take what you can get. However, when you buy a new construction home, you often have the ability to personalize it to some extent. For example, you may be able to choose your own paint colors, flooring, and appliances. This allows you to create a space that truly reflects your taste and style.
Additionally, one of the biggest advantages to buying new construction is, you can lock in your interest rate when you sign a contract, and you may even be able to get a free float down. This means that you'll have plenty of time to sell your current home or finish up a lease without having to worry about rising interest rates. Also, builders are now may offer closing cost credits, which can be used to upgrade your new home.2024-02-09T10:15:00-07:002024-01-08T09:40:32-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7207RAP Review: 'She Was Exceptional'“We worked with Murphy and she was exceptional. She was always prompt with answers and patient with us as we worked through the process.“
– Landon Elscott
2024-02-07T11:17:00-07:002023-12-15T11:38:21-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7621 Smart Financial Moves for New ParentsHere is a list of financial moves new parents should consider to ensure a stable and secure financial future for their growing family.
Create a Comprehensive Budget<br />With the arrival of a new family member, your expenses are likely to increase. It's essential to create a comprehensive budget that considers the usual monthly expenses and the additional costs associated with raising a child. Diapers, baby food, medical expenses, and childcare costs can add up quickly. By establishing a realistic budget, you'll clearly understand your financial situation and be better equipped to manage your resources.
Emergency Fund<br />Building and maintaining an emergency fund becomes even more critical when you're a new parent. Medical expenses, job loss, or other unexpected events can strain your finances. Aim to have at least three to six months' worth of living expenses saved in an easily accessible account to provide a safety net during challenging times.
Review and Update Insurance Coverage<br />Life insurance and health insurance are paramount for new parents. A life insurance policy ensures that your family is financially protected if something happens to you. It's crucial to have enough coverage to replace your income and cover future expenses, such as your child's education. Health insurance should also be reviewed and potentially updated to ensure it covers your family's medical needs adequately.
Estate Planning<br />Creating a will is a vital step for new parents. It allows you to specify guardianship for your child should something happen to both parents. Additionally, estate planning helps you designate how your assets should be distributed, ensuring that your child's financial well-being is safeguarded.
Start Saving for Education<br />While it might seem premature to think about education expenses when your child is still a baby, the cost of education can be a significant financial burden in the future. Consider opening a tax-advantaged savings account, such as a 529 plan, to save for your child's college education. Starting early gives your savings more time to grow, easing the financial strain when the time comes.
Adjust Retirement Planning<br />New parents often neglect their retirement planning due to the immediate demands of parenthood. However, balancing saving for your child's future and your retirement is crucial. Remember that your child can secure student loans or educational scholarships, but no loans are available for retirement. Continue contributing to your retirement accounts and take advantage of employer-sponsored plans or IRAs.
Explore Childcare Options<br />Childcare expenses can be significant, impacting your budget. Research different childcare options in your area to find one that suits your family's needs and financial situation. Some employers offer dependent care flexible spending accounts (FSAs) that allow you to set aside pre-tax dollars to cover childcare costs.
Consider Work-Life Balance<br />Decisions regarding work arrangements can significantly impact your finances and overall well-being as a new parent. Some parents opt for flexible work schedules, remote work, or even temporary career breaks to spend more time with their children. While these decisions might have financial implications, it's essential to consider the long-term benefits to your family's quality of life.
2024-02-05T09:55:00-07:002024-01-08T10:02:04-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7218Why we believe in real estate as an investmentWe want you to see what we get to witness every single day — that real estate is one of the greatest investments you can make for a happy and secure financial future.
Let us share 3+ reasons why.
1) Real estate appreciates.
Here’s the best part: There’s this concept known as 'depreciation.' <br />Depreciation is a tax deduction that allows real estate investors to deduct a portion of the property's cost as an expense. The deduction accounts for wear and tear and deterioration over time.
So while the property value goes up, you get tax perks that allow you to deduct expenses from your taxable income, reducing your tax burden. It's a win-win!
2) Real estate offers incredible financing opportunities.
There's nothing else like it — the government is eager to loan you a substantial portion of the price of a home, typically 95% to 97% of the purchase price.
This means you can invest in real estate with a relatively small down payment, giving you more financial flexibility to pursue other investment opportunities.
3) Real estate returns are consistent.
In spite of stocks' faster, flashier returns, real estate has historically produced more consistent and less volatile returns. If you’re looking for passive income and have time to invest for the long term, real estate shouldn't be overlooked.
Further, investing in real estate:
• Generates cash flow<br />• Protects against inflation<br />• Diversifies your portfolio<br />• Helps build wealth
Our team has years and years of real estate investment experience and we're happy to share what we've learned. Reach out!
Investing in Real Estate vs. Stocks: The Pros & Cons of Each | Concreit2024-02-02T12:57:00-07:002023-12-15T12:58:01-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:72173 Questions to Ask a BuilderWhen it comes to buying new construction, asking the right questions can be the key to a smooth experience from start to finish.
Ask a builder these three questions before getting started:
1) Is there a lot premium?
Knowing whether there's an additional cost for premium lots can help you find the perfect location within your budget. Unaware buyers can easily fall in love with lots that subtly or significantly increase their costs.
2) What are the standard finishes?
Get familiar with the standard features and finishes included in the base price of the home. Then, you’ll be able to decide what upgrades are best based on your preferences and style.
Popular upgrades that may up the value of your home in 2023? Higher ceilings, added square footage (bump out a wall), and energy-efficient windows.
3) How flexible are you with customization?
Every builder has their own level of flexibility when it comes to personalizing a home. While some may be open to significant structural changes, others might stick strictly to predetermined layouts with minor adjustments.
If you're thinking about new construction, we can guide you from start to finish. Got more questions? Just reach out.2024-01-31T12:50:00-07:002023-12-15T12:46:13-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7739How IAble Helps Disabled IowansIndividuals with disabilities face a variety of challenges; pursuing financial freedom shouldn’t be one of them.
Achieving a Better Life Experience (ABLE) accounts help individuals with disabilities and their support systems save for <a href="https://www.iable.gov/benefits/qualified-expenses" target="_self">Qualified Disability Expenses</a> while maintaining their eligibility for crucial assistance programs, such as Supplemental Security Income (SSI) and Medicaid. For the first time, individuals with disabilities can set short- and long-term financial goals with the help of ABLE accounts.
IAble is Iowa’s ABLE plan and is administered through the office of the State Treasurer. Here are some key highlights the Plan has to offer:
Protection
Yes, it’s true - IAble account assets are <a href="https://www.iable.gov/benefits/maintain-benefits" target="_self">disregarded</a> from federal means-tested benefits. SSI recipients can protect up to $100,000 in an IAble account and continue their eligibility to receive benefits. Any amount saved in an IAble account is disregarded from eligibility for Medicaid, Supplemental Nutrition Assistance Programs (SNAP), Housing and Urban Development (HUD) and the Free Application for Federal Student Aid (FAFSA).
Flexibility
IAble provides six <a href="https://www.iable.gov/investments/investment-options" target="_self">Investment Options</a> and a <a href="https://www.iable.gov/investments/checking-option" target="_self">Checking Account Option</a>. This gives Account Owners flexibility to choose how they want to invest their money, or choose to have it available at the swipe of a debit card (or both)! There is also a wide variety of expenses Account Owners can pay for with their savings. From paying for basic living expenses to purchasing a home, the list of <a href="https://www.iable.gov/benefits/qualified-expenses">Qualified Disability Expenses</a> is extensive.
Tax Savings
IAble Account Owners and their support systems also benefit from tax savings. Earnings on investments are federally tax-deferred and tax-free, if used for Qualified Disability Expenses. Iowa taxpayers can deduct up to $4,028 in contributions to an IAble account from their Iowa income taxes in 2024. This is adjusted annually for inflation and is not limited to the Account Owner – any Iowa taxpayer who contributes is entitled to the deduction.
Support
Of course, every individual’s situation is different. If an Account Owner is unable or unwilling to open their own Account, a variety of individuals may have the chance to open an Account on their behalf and act as an <a href="https://www.iable.gov/eligibility/who-can-open-an-account" target="_self">Authorized Individual</a>.
To learn more about IAble, visit the program's <a href="https://www.iable.gov/">website</a>.2024-01-29T12:58:00-07:002024-01-25T13:13:03-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7730How RAP Makes Tax Filing Easier
Ever had to scramble to find paperwork you need to file your taxes? RAP to the rescue!
Early each year, our team gathers and mails copies of closing documents to each client from the previous year. We're not required to do this, but we all know what a hassle taxes can be when you're trying to keep track of paperwork you normally don't deal with (like buying or selling a house). We tuck those documents away throughout the year and then in January, we have a mailing <a tabindex="-1"></a>party.
The ALL HUSTLE, NO HASSLE Real Estate Team (and our clients) - for the win!
2024-01-26T08:15:00-07:002024-01-24T08:21:45-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7728Ever Thought About Moving to Toronto?Ah, the thrill of a new adventure! You've decided to take the plunge and move to the vibrant Greater Toronto Area (GTA). It's a land of endless possibilities, with diverse neighborhoods, job opportunities galore, and a cultural scene that never sleeps. But, and there's always a but, the GTA isn't exactly known for being budget-friendly. According to experts from <a href="https://threemovers.com/">Three Movers Company,</a> moving to a new place requires proper planning and a reliable moving company as well.
In this article, we're going to explore the art of moving to or within the GTA without breaking the bank. So grab a snack and your favorite cozy blanket, and let's dive into the world of affordable moving.
1. Early Bird Gets the Budget Worm
In the world of moving, the early bird isn't just the one who gets the worm – they also get the budget on their side. Begin by meticulously planning your move well in advance. Pinpoint your moving date and craft a budget so detailed it could rival your grandmother's intricate knitting patterns. Account for every expense, from hiring movers to securing packing supplies, and yes, even setting aside a little dough for those inevitable midnight pizza cravings during the move. With a crystal-clear financial roadmap, you'll navigate your way without stumbling into unexpected financial potholes.
2. Channel Your Inner Minimalist
Moving can be likened to Marie Kondo's dream come true – an ideal chance to declutter your life. Dive headfirst into your possessions and pose the question, 'Does this spark joy?' If not, it's time to bid those items adieu. Whether you choose to sell, donate, or simply evict unloved belongings, you'll lighten your load in more ways than one. Fewer items to move translate to fewer dollars flying out of your wallet, easing the financial strain of your move. Additionally, the things you sell can transform into extra cash in your pocket, providing both a practical and profitable side to your moving adventure. So, embrace your inner minimalist and embark on your journey to a clutter-free, budget-friendly move!"
3. The Price is Right: Movers Edition
Before entrusting your move to<a href="https://threemovers.com/"> professional movers</a>, play a round of 'The Price is Right.' Collect quotes from multiple moving companies to secure the best deal. Seek movers with competitive rates that won't turn your move into a budget-busting extravaganza. Harness the wisdom of the crowd – read reviews and consult those who've recently moved, like Aunt Sally's cousin's friend, for valuable recommendations. With this savvy approach, you'll ensure a cost-effective move without compromising on quality."
4. Timing is Everything
Timing can be your secret weapon in the battle for a budget-friendly move. Peak moving seasons, usually in the summer and on weekends, tend to be pricier due to high demand. If possible, opt for an off-peak season move or choose a weekday. Booking your move well ahead of time can also save you some hard-earned cash. This strategy not only helps you secure better rates but also allows for a smoother transition. For more information on peak moving seasons and planning your move, consider consulting the<a href="https://www.canada.ca/en/financial-consumer-agency.html"> Government of Canada's Consumer Affairs</a> website. With the right timing and expert advice, you'll master the art of a cost-effective move."
5. Unleash Your Inner DIY Pro
For the true budget warriors, the DIY move is the ultimate strategy. Rent a truck, gather packing boxes, and embark on an epic moving adventure. It's undoubtedly more work and planning, but the savings can be significant, especially for smaller moves or when you've got a squad of friends willing to lend a hand (beer and pizza may serve as the secret fuel). Taking charge of your move and cutting out professional movers can lead to substantial cost reductions, putting more money back into your pocket for your GTA adventure."
6. Surf the Web for Savings
In today's digital age, the internet is your ultimate playground for discovering deals and delights while planning your GTA move. While you can embark on exciting hunts through Kijiji, Craigslist, and local social groups for rental gems, budget-friendly furniture, and wallet-easy moving services, there's a secret weapon you shouldn't miss: Willer Real Estate!
Why? Because Willer Real Estate isn't your average online hub. They're your GTA gurus with unmatched insights into the local real estate scene. Beyond mere listings, they offer personalized advice, tips, and a pledge to help you secure an ideal rental that fits your budget.
Partnering with Willer Real Estate isn't just about saving; it's about unlocking exclusive opportunities and insider knowledge, turning your GTA rental quest into a thrilling adventure filled with fun and savings.
7. Don't Forget the "Oh No!" Fund
Moving often invites unexpected expenses to crash the party. Ensure you budget for these hidden costs, including utility setup fees, cleaning services, and any surprise repairs needed in your new place. By having a financial safety net ready for these 'oh no!' moments, you can keep your move as smooth as butter. Unexpected hiccups won't throw you off course, and you'll have peace of mind knowing you're prepared for whatever surprises come your way during your GTA adventure."
8. Tax Deductions: The Mover's Holy Grail
For those whose moves are job-related, here's the Mover's Holy Grail – tax deductions! It's possible that you qualify for some enticing tax deductions or credits that can help cushion the financial blow of your move. But don't don your accountant hat just yet; talk to a tax professional for guidance. They can determine if you meet the eligibility criteria and guide you through the process. Imagine the joy of having a few extra bucks back in your pocket after all the moving expenses. Now, that's a move worth celebrating! So, before you bid adieu to your old place, make sure you've explored this potential treasure trove of savings. It could be the icing on the cake of your smooth, budget-conscious move!
Final Thoughts
Your move to the GTA can be both an adventure and a budget-saving quest. By decluttering, researching neighborhoods, and even embracing the DIY spirit, you can have your cake (or poutine) and eat it too. Take your time, compare prices, and use every resource available to make your move to the GTA as exciting and affordable as possible. Happy moving, budget champ! 2024-01-24T07:30:00-07:002024-01-24T07:01:53-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7454HELOC or HELOAN: What’s the Difference?Did you know you can access your home’s equity without selling your home? A home equity line of credit (HELOC) and a home equity loan (HELOAN) are both types of financing that allow you to borrow against the equity you’ve built in your home. With the money you receive from these home equity options, you have the flexibility to tackle home renovations, consolidate debts, invest in education or meet other financial goals that are important to you.
What’s home equity?<br />Home equity refers to the portion of your property that you truly own. It’s the value of your home minus what you owe on your mortgage. At closing, the only equity you have in your home is likely from your down payment. But every time you make a mortgage payment, you reduce your debt which may build your home equity. The second way to boost your home equity is if your property’s value goes up. If the housing market is doing well or you make improvements to your place that make it more valuable, your home’s worth can increase. HELOCs and HELOANs are two common ways homeowners access their home equity.
What’s a HELOC, and what are the qualifications to get one?<br />A HELOC is a line of credit secured by your home. You can use your revolving credit line to tap into the equity you’ve built up in your home for large purchases such as tuition, renovations and emergency expenses. Since HELOCs rely on your home’s equity, you can’t borrow more than the value of equity in your home, which is the appraised value of your property minus the remaining balance on your mortgage.
With a HELOC, you have the flexibility to borrow and repay as needed, and you’re only charged interest on the outstanding balance. For example, if you have a HELOC limit of $50,000 but only use $20,000 for a home improvement project, you’ll only pay interest on that $20,000 rather than the entire $50,000.
In addition to your credit history, your income, debt, employment situation and other factors relating to your ability to repay the loan will play a role in qualifying for a home equity option.
What’s a HELOAN, and who qualifies?<br />A home equity loan (HELOAN) provides up to 95 percent of your home’s equity as a piggyback second mortgage. The HELOAN is an additional loan you take out on top of your existing mortgage, which results in two separate loan payments. In contrast, a cash-out refinance transforms your first mortgage into a completely new mortgage.
A HELOAN offers flexible loan terms and fast funding. Credit scores as low as 640 may qualify for a HELOAN.
Have questions? Reach out - we'd love to talk!2024-01-22T11:42:00-07:002024-01-08T10:06:24-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7449Buying an Equestrian PropertyEquestrian properties are unique. If you’re thinking about buying equestrian property, you have to weigh different aspects of a listing than you would for a typical single-family home purchase. As you look at properties, you will face the dilemma of whether to prioritize the property’s land or the house itself. In the end, the right equestrian property depends on your specific needs. The following information will help you along that decision-making process to find the right home for you.
Buying an Equestrian Property<br />It’s vital that you work with an experienced real estate agent as you go about the process of searching for a home. Your agent will be able to pinpoint listings that match your criteria and reach out to the listing agent representing the seller. Learning more about how an equestrian property creates value for its owners will inform your discussions with your agent.
Equestrian Property: The House<br />A well-designed house will enhance your daily life and provide comfort for your household. Features like a spacious kitchen, an open living room area, outdoor living areas, and modern amenities can maximize your enjoyment of your time at home. Flexible interior spaces with the ability to be converted into a home gym or home office may be more valuable to you, depending on your lifestyle. If these characteristics are a top priority, communicate to your agent that these features are must-haves.
Equestrian Property: The Land<br />The equine lifestyle requires a property to have more than just ample backyard space. Whatever your goals as an equestrian homeowner, your horses’ experience will be dictated by the land. Consider the facilities you plan on setting up. The quality of the land and its suitability for the kinds of training you have in mind are very important, especially if your livelihood and your equestrian activities are intertwined. Different equestrian disciplines require different footing; consider each property’s ability to accommodate your specific discipline.
Equestrian operations often expand over time, so it pays to think about each property’s potential in terms of how it could grow in the future. The same can be said for customization: purchasing land with the potential to build custom equestrian facilities allows you to tailor the property to your goals and the needs of your horses.
We have years of experience with horse properties and acreages in general. Reach out if you have questions!2024-01-19T10:28:00-07:002023-12-15T10:35:05-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7452RAP Review: Committed to Excellence"We collaborate with several prestigious real estate agencies as a home inspection firm. The Real Advantage Partners crew is, without reservation, excellent. Extremely pleased by their level of professionalism and dedication to their clients. From the first point of contact through the delivery of the final report, they are quick to respond, thorough, and communicative. Their commitment to excellence and customer satisfaction is second to none!"
- Spotlight Home Inspection Services, Des Moines2024-01-17T10:37:00-07:002023-12-15T11:08:54-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7619Strategies for Seniors to Protect Their WealthAs we journey through life, one of our most important goals is financial security and stability. For seniors, protecting their hard-earned wealth becomes even more crucial as they navigate retirement and the potential challenges that come with it.<br /><br />Whether you're already retired or approaching retirement, implementing effective strategies to safeguard your wealth is essential to ensure a comfortable and worry-free future.
Create a Comprehensive Financial Plan<br />The foundation of wealth protection for seniors begins with a well-crafted financial plan. Collaborate with a financial advisor specializing in retirement planning to create a comprehensive strategy tailored to your goals and circumstances. A solid financial plan considers your assets, income sources, expenses, and potential risks. Regularly review and update this plan to accommodate changes in your financial situation.
Diversify Your Investments<br />Diversification is a key principle in managing risk and preserving wealth. Spread your investments across various asset classes such as stocks, bonds, real estate, and commodities. This approach helps mitigate the impact of a decline in any single investment and allows you to benefit from potential gains in different sectors of the economy.
Consider Long-Term Care Insurance<br />As we age, the possibility of requiring long-term care increases. Long-term care insurance can provide financial assistance to cover nursing homes, assisted living facilities, and in-home care expenses. Securing this type of insurance protects your wealth from being depleted by unexpected healthcare costs.
Estate Planning and Wills<br />Estate planning is a vital component of wealth protection. Create a comprehensive estate plan that includes a will, power of attorney, and healthcare directives. A will ensures that your assets are distributed according to your wishes after passing. At the same time, a power of attorney designates someone to make financial decisions if you become incapacitated.
Trusts for Asset Protection<br />Trusts can offer additional layers of protection for your assets. Revocable living trusts, for example, allow you to maintain control over your assets while avoiding probate, ensuring a smoother transfer of wealth to your beneficiaries. Irrevocable trusts can be used for more advanced asset protection strategies, shielding your wealth from creditors and potential legal claims.
Stay Informed and Avoid Scams<br />Financial scams and fraudulent schemes often target seniors. Stay informed about fraudsters' latest scams and strategies to exploit vulnerable individuals. Be cautious when sharing personal and financial information, and verify the legitimacy of any investment opportunities or offers that come your way.
Regularly Review and Adjust Your Retirement Portfolio<br />The financial markets constantly evolve; your retirement portfolio should reflect these changes. Regularly review your investments with your financial advisor and adjust your asset allocation. Your risk tolerance, goals, and market conditions will likely change, so your investment strategy should be flexible enough to adapt.
Minimize Debt and Liabilities<br />Reducing debt during retirement is crucial for protecting your wealth. High-interest debts can erode your financial stability over time. Focus on paying off outstanding debts before and during retirement to alleviate unnecessary financial burdens.
For seniors, protecting wealth is not just about preserving financial assets—it's about ensuring a comfortable and secure retirement. By combining financial planning, investment diversification, insurance coverage, estate planning, and staying vigilant against scams, seniors can safeguard their hard-earned wealth and enjoy a worry-free retirement journey.<br /><br />Consulting with professionals, such as financial advisors and estate planning attorneys, can provide invaluable guidance in crafting a tailored strategy that aligns with your unique circumstances and aspirations.2024-01-15T07:43:00-07:002024-01-08T09:39:51-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:74475 Home Projects to Complete in 10 Minutes or LessYou probably have a laundry list of projects you’ve been meaning to complete around your home. Luckily, there are tips to help you complete some of these tasks in ten minutes or less. Your home can feel more organized (almost) instantly.
Organize your kitchen pantry: Start by sorting out expired items. Now organize your shelves by function. Separate snacks, baking necessities, spices, and more. Take inspiration from your favorite grocery stores. This ten minute task can save you time when you’re cooking your favorite recipes or making a quick midnight snack. As an added bonus, it reduces the chance of adding salt instead of sugar or vice versa.
Make natural cleaning products: Skip the store. Make your own cleaning products using things you probably already have on hand. You can save money, have a clean home, and be more environmentally friendly. Get started by making these natural cleaning solutions.
Organize your closet: Set a timer and organize your closet for ten minutes. We recommend organizing by color, type, or function. For example, hang all shirts, jackets, sweaters, skirts, pants, and dresses with each other. You will probably end up saving time in the long run, because it will be easier to find what you’re looking for.
Peeling wallpaper: Put a drop of wallpaper paste on a sheet of paper, rub the paper on the underside of the exposed wall, then press the peeling wallpaper against the glue. Smooth any bubbles out with a clean cloth and the wall can look as good as new!
Sliding glass doors or windows: If your glass fixtures are not sliding as smoothly as they should, spray a cloth with silicone lubricant and wipe it along the tracks. It’ll make it easier to get some fresh air.
Get off your computer, turn off the TV, and get started!2024-01-12T10:08:00-07:002023-12-15T10:13:12-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7446Bathroom Remodel: Design PlanningBathrooms are no longer just functional spaces; they have evolved into havens of relaxation and personal style. The choice of bathroom style can significantly impact the overall aesthetic of your home. Here are some popular bathroom styles, each with its unique characteristics:
Modern/Contemporary:<br />Characteristics: Clean lines, minimalistic design, and a focus on functionality.<br />Materials: Commonly incorporates materials like glass, metal, and concrete.<br />Color Palette: Neutral tones, with occasional pops of bold colors.<br />Fixtures: Sleek, angular fixtures and often features wall-mounted vanities.
Traditional:<br />Characteristics: Timeless and classic design, often inspired by historical periods.<br />Materials: Wood, marble, and ceramic tiles are frequently used.<br />Color Palette: Warm and rich colors, such as beige, cream, and deep blues.<br />Fixtures: Clawfoot tubs, pedestal sinks, and ornate faucets contribute to the traditional aesthetic.
Transitional:<br />Characteristics: Strikes a balance between traditional and contemporary design.<br />Materials: Mixes classic and modern materials, such as combining wood with glass or metal.<br />Color Palette: Neutral tones with occasional accents of bold colors.<br />Fixtures: Blends classic and modern fixtures to create a harmonious look.
Rustic/Farmhouse:<br />Characteristics: Emphasizes a cozy, lived-in feel with natural elements.<br />Materials: Distressed wood, stone, and vintage-inspired fixtures.<br />Color Palette: Earthy tones, such as browns, greens, and whites.<br />Fixtures: Freestanding tubs, apron sinks, and wrought iron accents.
Scandinavian:<br />Characteristics: Simplicity, functionality, and a focus on natural light.<br />Materials: Light-colored wood, white tiles, and simple, functional accessories.<br />Color Palette: White, light gray, and natural wood tones predominate.<br />Fixtures: Clean-lined, simple fixtures with an emphasis on practicality.
Industrial:<br />Characteristics: Utilitarian and raw aesthetics, often inspired by warehouses or factories.<br />Materials: Exposed brick, concrete, metal, and reclaimed wood.<br />Color Palette: Neutral tones, with pops of metallic accents like steel or copper.<br />Fixtures: Industrial-style faucets, open shelving, and concrete sinks.
Coastal/Beach:<br />Characteristics: Light and airy with a beach-inspired color palette.<br />Materials: Natural materials like bamboo, sea grass, and weathered wood.<br />Color Palette: Whites, blues, and sandy beige tones.<br />Fixtures: Nautical-inspired details, such as rope mirrors or shell-themed accessories.
Eclectic:<br />Characteristics: A mix of different styles, patterns, and textures.<br />Materials: Anything goes, as long as it contributes to the overall eclectic vibe.<br />Color Palette: Bold and varied colors, often with contrasting patterns.<br />Fixtures: Can vary widely, from vintage to modern, creating a unique and personalized space.
When choosing a bathroom style, consider your personal preferences, the overall design of your home, and the practical needs of the space. Whether you prefer the sleek lines of a modern bathroom or the warmth of a traditional space, there's a style to suit every taste and lifestyle.
And while it doesn't need to be your primary criteria, remember that your home is an investment (perhaps the biggest you'll ever have). Make sure any remodeling you do ultimately adds value.2024-01-10T09:58:00-07:002023-12-15T10:07:00-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7438Top Assisted Living Facilities in Des MoinesIowa has long been known as a senior-friendly state, so it’s easy to see why it ranked 7th on Caring.com's most recent<a class="chakra-link css-67tq15" href="https://www.caring.com/senior-living/iowa"> Senior Living Report</a>. Between the relatively <a class="chakra-link css-67tq15" href="https://www.genworth.com/aging-and-you/finances/cost-of-care.html">low median assisted living rates</a> and the lack of state income tax on Social Security benefits, the Hawkeye State is ideal for retirees looking for a welcoming, affordable place to settle down.
Caring.com is a leading online destination for caregivers seeking information and support as they care for aging parents, spouses, and other loved ones. They offer thousands of original articles, helpful tools, advice from more than 50 leading experts, a community of caregivers, and a comprehensive directory of caregiving services.
Using its expert analysis, Caring.com has created an <a href="https://www.caring.com/senior-living/assisted-living/iowa/des-moines">online guide</a> is for seniors and families who want to learn more about assisted living in the Des Moines Metro. In addition to cost information for the city and surrounding areas, the guide offers more information about the city and links to local free resources, including organizations that can help find benefits that make paying for assisted living easier.2024-01-08T08:23:00-07:002024-01-08T09:39:00-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7436Understanding Assisted LivingAssisted living represents a long-term residential care solution tailored for older adults who could benefit from assistance with daily activities and support in tasks such as laundry and transportation. Assisted living facilities provide residents with aid in their day-to-day routines and the assurance of 24/7 staff availability, all while empowering them to maintain as much independence as desired. This aspect can make assisted living a well-suited option for seniors with emerging health challenges.
In the later stages of life, a significant number of elderly individuals will inevitably find themselves in need of some form of senior care. Health issues like diminished mobility, complex medication regimens, and declining vision can render independent living unsafe for these individuals. While nursing homes may immediately come to mind when considering residential care for seniors, assisted living emerges as a preferable alternative for those requiring support in their daily lives without the need for constant medical attention.
Across the United States and Iowa, numerous assisted living facilities, collectively housing more than 800,000 residents. Navigating this vast landscape to choose the most suitable community can be daunting. To alleviate this challenge, <a href="https://www.caring.com/senior-living/assisted-living/">Care.com offers a guide</a> to help you understand what assisted living is (and isn't) and assist in determining whether it represents the optimal senior care choice for yourself or a loved one. Additionally, they delve into topics such as the financial aspects of assisted living, tips for selecting a community, and other pertinent considerations.2024-01-05T08:01:00-07:002023-12-14T08:22:43-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7445RAP Review: Making a Dream Happen"I reached out to Kara back in July when I was hunting for a space to call my own for Kays Spiritual Ways. She was kind enough to help guide me in the right direction. She showed me this space she thought would be a good fit and I instantly knew that it was meant for me the moment we walked up to the shop. So from then on we worked together to make my dreams happen. Kara showed fabulous hospitality during the whole process!! Can't thank her enough! I highly recommend her and her team!!"
-Kayla Carre, Des Moines2024-01-03T09:42:00-07:002023-12-15T09:49:37-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7441Wishing You the Best in 2024<img src="https://assets.site-static.com/userfiles/2204/image/scott/Copy_of_August_4_3.jpg" width="697" height="871" />2024-01-01T08:25:00-07:002023-12-15T12:50:04-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7459What Firefighters Say About Cold WeatherWith cooler temperatures ahead in the Winter, the Des Moines Fire Department is asking residents to keep fire safety measures in mind and to plan ahead.
Speaking to WHO-TV, Des Moines Firefighter Ahman Douglass said this time of year is a busy and concerning time for firefighters.
According to Douglass, the Des Moines Fire Department responded to close to 33,000 calls during this calendar year, so he wants to emphasize the importance of safety while finding alternative methods to provide heat during the winter.
He advises people to avoid using space heaters overnight. However, he said that if residents do use them overnight, they should pay attention to the sounds that the appliance is making. There should also be three to four feet of clear space around each space heater.
Douglass also advised people to pay attention to the conditions of extension cords.
He also said that smoke alarms should be placed in all bedroom and hallways inside a residence. They should be replaced every 10 years after the manufacturer’s date and batteries should be replaced twice a year.
He advised that residents test their smoke alarms once a month to ensure proper function.
During this time of year, Douglass said that it’s important to also look out for others in the community.
He said, “Let’s please be vigilant and keep an eye on each other. This is an opportunity for us to pay attention to how our neighbors are feeling, how our friends are feeling, and look out after yourself as well. The fire department, we’re going to help you do the same.”2023-12-29T12:51:00-07:002023-12-15T12:57:12-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7443Multi-Generational Homes: Pros And ConsIf you’re thinking of giving multigenerational living a try, there’s lots to consider.
While there are many plus points, there are also some inevitable downsides too. Being aware of both sides of the coin is vital if you want to make an informed decision on such a big move, so we’ve put together an article to help you out. Our guide to the pros and cons of multigenerational living will hopefully give you a solid foundation on which to base your decision.
Let’s start off, though, with a brief overview of why multigenerational living arrangements are seeing a resurgence in modern-day America.
The rising popularity of multigenerational living
Multigenerational living, whereby more than two generations of a family cohabit under a single roof, has witnessed a noticeable upsurge across the country in recent years.
This style of cohabitation, once a staple of Victorian England, is regaining traction due to various socio-economic, cultural, and wellness considerations.
Socio-economic factors
As we delve into socioeconomic influences, it’s essential to acknowledge the overarching role of housing affordability.
The escalating property prices in numerous UK locales have rendered homeownership a distant dream for many, particularly the younger demographic. Consequently, multiple generations pooling resources to secure a singular property is becoming an increasingly viable solution.
Moreover, the financial burden of childcare and elderly care is alleviated to a certain extent in a multigenerational setup. Adult children can provide care for ageing parents, while grandparents can offer invaluable assistance in childcare, thereby reducing the need for external - and often costly - care services.
Additionally, with the rising cost of education, staying at home during further studies becomes a prudent decision for many students, thereby organically fostering a multigenerational living environment.
Cultural and social influences
Culturally, the modern US family is becoming more cohesive and interdependent, partially driven by influences from other cultures where multigenerational living is a norm.
Moreover, the recognition of the social and emotional benefits that stem from close-knit family environments is encouraging many to consider this living arrangement. A household bustling with the daily activities of children, parents, and grandparents creates a vibrant, supportive environment where familial bonds are consistently nurtured.
Health and wellness considerations
After the turbulent waves of the global pandemic, many families have recognised the health and emotional benefits anchored in multigenerational living.
Not only does this setup facilitate practical support during health crises, but it also lays down a robust emotional infrastructure wherein mental and emotional wellness is upheld through familial relationships.
The younger generation gains access to a wealth of experience and wisdom from their elders, whilst the older generation can enjoy an enriched, active lifestyle in a family-oriented environment.
Pros of multigenerational living<br />The tapestry of multigenerational living, woven with the threads of companionship, support, and shared responsibilities, naturally comes with several advantages.
Below, we take you through some of the benefits that take into account financial, emotional, and practical realms, showing why numerous families across the country are opting for this harmonious way of living.
Financial benefits
Shared costs<br />One of the main advantages that emerge from a multigenerational living arrangement is the distribution of financial burdens. Utilities, mortgage or rent, groceries, and maintenance costs, when shared among family members, significantly diminish the individual financial load.
This allows for a more manageable and collective approach towards handling household expenses.
Potential for enhanced financial stability<br />Additionally, with varied generations contributing to the family's economic pool, it often results in a more financially stable environment. Savings can be bolstered, investments can be strategised collaboratively, and financial risks can be mitigated with the collective wisdom and resources of the family.
Moreover, this arrangement may facilitate members to pursue further education or entrepreneurial ventures, thanks to the domestic financial stability.
Emotional and social aspects
Strengthened family bonds<br />The day-to-day interactions, shared meals, celebrations, and even navigating through conflicts together fortify family bonds.
This consistent closeness allows generations to understand, appreciate, and learn from one another, thus sowing seeds of deep-rooted relationships that often blossom into strong familial ties.
Shared responsibilities and support<br />Being present in a household where one can both lend and seek support fosters a nurturing environment.
From sharing daily chores to providing emotional support in times of distress, the multi-faceted support system inherent in multigenerational living is indeed invaluable.
Practicality and convenience
Shared childcare and elderly care<br />One of the cardinal practical advantages is the intrinsic system of care that evolves within the family.
Grandparents may find joy and purpose in contributing to childcare, while younger members ensure that the elders in the family receive necessary care and attention, crafting a symbiotic environment where care is both provided and received.
House maintenance and upkeep<br />The collective effort towards housekeeping and maintenance also becomes a notable advantage.
Varied skill sets and physical capabilities of different generations ensure that the residence is well-kept and maintained, circumventing the need for external help and thus, fostering a sense of collective accomplishment and pride.
Cons of multigenerational living<br />While multigenerational living undoubtedly provides plenty of benefits, it’s also accompanied by a set of challenges that families need to navigate.
To properly understand this living arrangement and ensure that families are making informed decisions, it’s crucial to explore some of the potential downsides.
From privacy concerns to relationship strains, let’s delve into some aspects everyone should take into consideration.
Privacy concerns
Shared spaces<br />In multigenerational homes, private spaces are naturally limited due to the need to accommodate various family members.
The shared usage of common areas, such as the kitchen, living room, and bathroom, can sometimes lead to a feeling of congestion and a lack of personal space, which is essential for individual well-being.
Limited personal time<br />Balancing personal time can become challenging in a bustling multigenerational environment.
With family always around, finding moments of solitude or spending quality time as a nuclear family or couple may require deliberate planning and coordination, which isn’t always as straightforward as it sounds.
Financial implications
Managing collective budgets<br />While shared costs are a perk, managing a collective budget can be tricky. Differences in spending habits, financial priorities, and contributing capabilities among family members might spark disagreements or create tension within the household.
Potential dependency issues<br />There’s also a risk of fostering financial dependency among family members, as the collective pooling of resources may inadvertently discourage individual financial responsibility and planning, particularly amongst younger adults.
Relationship strains
Different generational perspectives and values<br />Harmonising varied generational perspectives, values, and lifestyles under one roof can be challenging.
Disparities in viewpoints related to discipline, lifestyle choices, and even trivial matters like decor can potentially fuel conflicts.
Disagreements on household management<br />With multiple adults in a single household, differences in opinions regarding household management, child-rearing practices, and shared responsibilities are inevitable.
Navigating through these disagreements while maintaining a peaceful cohabitation can be tricky and emotionally taxing.2023-12-27T09:22:00-07:002023-12-15T09:39:07-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7210Merry Christmas<img src="https://assets.site-static.com/userfiles/2204/image/scott/Beige_and_Green_Colorful_Open_House_Poster_2.jpg" width="765" height="1071" style="display: block; margin-left: auto; margin-right: auto;" />2023-12-25T05:15:00-07:002023-10-31T11:06:25-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7458Metronet Opens Des Moines StoreMetronet has announced the opening of its Des Moines storefront while ringing in the holidays with a $10,000 donation to Food Bank of Iowa. Metronet has worked to ensure that Des Moines residents and businesses have access to ultra-high-speed internet as it has quickly become a necessity for daily life. In addition to ensuring that the community has access to reliable, 100% fiber internet, Metronet also wanted to ensure that Des Moines’ community is cared for throughout the holiday season. Metronet’s donation to the Food Bank of Iowa will help provide more than 15,000 meals this holiday season.
"Metronet remains committed to empowering communities by bridging them to the future with our ultra-high-speed internet," said Dave Heimbach, President & CEO of Metronet. "Beyond connecting Iowans with our 100% fiber internet, we're dedicated to supporting our neighbors during the holidays. Our contribution to the Food Bank of Iowa reflects our pride in aiding hundreds of families with essential food provisions this season."
Metronet’s Des Moines storefront, located at 1231 Keosauqua Way, Suite 104, now provides customers with the opportunity to learn more about Metronet’s multi-gigabit, 100% fiber optic speeds and service offerings. Customers may now visit the newly opened storefront, Monday through Friday, 9:00 a.m. to 5:00 p.m., to sign up for service plans and speak with Customer Care Associates face-to-face. 2023-12-22T12:41:00-07:002023-12-15T12:45:41-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7215Your First Home is Exactly ThatBuying your first home can feel like a tug of war between your dream wishlist and your budget constraints.
The good news is “No” today isn’t “No” forever.
Let me explain.
Meet our friend Samantha. She purchased a home a few years back, buying a 2/1 in a growing neighborhood. As life moved forward, so did her dreams and her budget.
So, she sold that place and used her profits to level up to her next home. And guess what? She's planning to do it all again.
The moral is this: Your first home is exactly that — a first home.
And while it might not check every box, it's the foundation that leads you toward where you want to be in 5, 10, or 15 years.
Not to mention that along the way, you’ll enjoy the peace of mind that comes with having home equity, giving you options if you want to refinance when rates drop or take cash out for big-ticket purchases.
What’s more, when the time is right for you to sell, you’ll likely reap even more financial rewards.
Right now, owners who purchased their homes 3-6 years ago are seeing a 22.1% appreciation in their home’s value. Those who purchased 7-10 years ago are enjoying an even bigger percentage jump — 46.6%.
So if you keep thinking about buying your first home but over and over again get cold feet because it feels too hard or too complicated or too out of reach, you can move forward.
Let's talk about your home goals and what it will take to get you there!2023-12-20T12:35:00-07:002023-10-31T11:41:12-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7211RAP Wins Day: Multiple Offers
"Helped a client understand and choose from MULTIPLE offers." - Rachelle Cochran
When we get competing offers (and that's not unusual in this market), it takes knowledge and experience to choose the very best one. Sometimes the highest offer price isn't the best option. We look at appraisal gaps, inspections, financing and even lenders before counseling our clients on the negotiation process. And because we are a TEAM, we consult with one another <a tabindex="-1"></a>and benefit from the whole group's experience and wisdom.
2023-12-20T12:10:00-07:002023-10-31T11:14:21-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7453What's Going on with Mortgage Rates?In October, mortgage rates started with an 8. Today, we have rates that start with a 5. Across the board, mortgage rates have dropped over 1.50% in less than 2 months. This is the lowest rates have been since May. This is all positive news pointing to a really active 2024. Buyers who have been on sitting on the sidelines will now hear rates are dropping and many will act on it.
We know this is confusing because many people looking at a real estate move believe the mortgage rate is the Fed Funds rate. Mortgage rates follow the 10 Year Treasury more than anything else. The drastic drop in the 10-Year Treasury has created the drastic drop in mortgage rates. <br /> <br />Don’t be misled by headlines and think you need to wait for the Fed to drop rates later next year before buying. The reality is, the Fed Funds rate is not the mortgage rate and does not have a direct impact. While it helps to guide direction, the markets react months before the Fed does anything based on speculation. That’s how markets work. The most likely outcome is that the Fed does exactly what investors are assuming. If that happens, there will be very little movement in mortgage rates when the Fed drops their rate.
The bottom line is if you are waiting for the Fed, you will be late to the game. If you are thinking about a move in 2024, NOW is the time to make a plan, starting with any questions you have about mortgage rates and where the market is headed. Reach out - we’d love to help!2023-12-18T06:30:00-07:002023-12-15T11:33:48-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7163What does it actually cost to buy a home?Wondering what it actually costs to buy a home?
Buying a home is a significant financial commitment, and understanding the potential costs involved is essential. Let's take a look at three fictional scenarios to help illustrate potential costs at different price points.
1. Scott | The Starter: <br />Scott is a newbie in the home buying game, considering a townhouse that has a market price of $250,000.<br />With a 20% down payment, a 30-year mortgage, and an interest rate of around 5%, Scott’s monthly payment would come to about $1,074. Include property taxes, insurance, and any potential HOA fees, and his total monthly expenses would come up to around $1,374.
2. Emily & Matt | The Upgraders: <br />Emily and her husband Matt are expecting a baby and need more room. The home of their dreams carries a price tag of $500,000. With a 10% down payment, a 30-year mortgage, and an interest rate of 5%, their monthly payment would be around $2,684. Incorporating property taxes, insurance, and potential HOA fees, the total monthly expense would be approximately $3,484.
3. Hilary | The Idealist<br />Hilary has discovered her dream property in the perfect neighborhood. This exquisite property is priced at about $1 million. With a 20% down payment, a 30-year mortgage, and an interest rate of 5%, Hilary's monthly payment would be $4,295. Include property taxes, insurance, and possible HOA fees, and Hilary’s total monthly outlay is estimated at about $5,895.
Using these characters can get a rough idea of what you would be paying at different price points. Just remember, the market changes literally every day. For accurate prices, interest rates, and monthly expenses, talk with a trusted mortgage advisor (we can connect you) and get personalized information.
Ready to take the next step? We would be happy to connect you with a trusted mortgage lender and get you set up to receive automated emails each time a home that fits your criteria hits the market (before Zillow!) Send us a message and let's get started today!2023-12-13T10:43:00-07:002023-10-31T11:34:33-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7206Meet the Team: Mia Willson
Today we're introducing you to Mia Willson!<a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz xt0b8zv x1qq9wsj xo1l8bm" href="https://www.facebook.com/mia.lottie.7?__cft__[0]=AZVq3XDy38_-UX_N-Af0x_L_2zIJ-bugl7xnk4I3L_6aY25joVTvvckIm5P_aFVzALz0eW0dWu4wTw6pJehHgaK6zNQGWY67o5bt_ZhXKu2FFDG5rMDCNgKIvgMgiBFqWxE&__tn__=-]K-R" role="link" tabindex="0" target="_blank"><br /></a>
What is your favorite part about your work as a Realtor: My favorite part about being a Realtor is that you will never have the same day twice. Everyday is different!
What <a tabindex="-1"></a>do you like to do when you're not working? I can usually be found at a concert, baseball diamond, or greyhound race!
What is a favorite piece of advice or quote: "If you're not first, you're last"- Ricky Bobby
2023-12-11T11:10:00-07:002023-12-15T08:12:34-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7213Is This House Overpriced?Overpriced home prices are so last year. Like every trend, though, you can easily find a handful still hanging out on the market — but only if you know what to look for.
Let us show you how our team spots inflated home prices for our buyers so that you can feel great about the house you’re getting and the price you’re paying.
1) Get cozy with a Comparative Market Analysis (CMA).
A CMA is THE best way to determine a house's fair market value. Put together by a knowledgeable agent, it’ll compare recent sales of similar properties nearby to paint a picture of what homes are currently selling for. Keyword here? Currently.
2) Check the time on the market.
A property that’s been sitting on the market for a while may indicate an inflated price. Well-priced ones attract interest — and sell — quickly. (FYI: the average days on market in June 2023 was 44.)
3) Appraisal vs. listing price.
You’ll be well into the buying process before the appraisal comes back, but it’s critical in confirming a property's value. If the appraisal comes in lower than the listed price, it's a serious red flag.
4) It’s what’s on the inside that counts.
Does the home boast a shiny, new kitchen, or is it stuck in the 90s? Interior and exterior upgrades can add or subtract from a home’s value. If things don’t add up, it’s time to ask some questions.
5) There’s no crying in pricing (or, at least, there shouldn't be).
Sometimes, sellers get attached to their homes, leading to “emotional pricing” - pricing based on data AND sentimental value. Have compassion, but negotiate with your CMA in hand to avoid paying more than you should.
An experienced agent who knows the local market is your best defense against spending more than you should. Want to learn more? Contact us anytime!2023-12-08T12:20:00-07:002023-10-31T11:27:08-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7212RAP Wins Day: Small Business Scores!
"Got my first Highland Park lease signed!" - Kara Kelso
Kara was able to help <a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz xt0b8zv x1qq9wsj xo1l8bm" href="https://www.facebook.com/profile.php?id=100089876614522&__cft__[0]=AZXPL30LVqHPUS3a88Pb4wqVImiF6aT1U9IOnPB6XVwltYSq2pzP6yjs5vB-pAm-AlGlV3229H5gdvV_RxFSrmnKHC8-dYAcYjXwjFEBULgpVRbC5PH9mgF4OQU2yuMP5jI&__tn__=-]K-R" role="link" tabindex="0" target="_blank">Kays Spiritual Ways </a> set up shop and continue her dreams of a storefront! We love helping local small businesses make a move and keep moving forward! That's why we are <a class="x1i10hfl xjbqb8w x6umtig x1b1mbwd xaqea5y xav7gou x9f619 x1ypdohk xt0psk2 xe8uvvx xdj266r x11i5rnm xat24cr x1mh8g0r xexx8yu x4uap5 x18d9i69 xkhd6sd x16tdsg8 x1hl2dhg xggy1nq x1a2a7pz xt0b8zv x1qq9wsj xo1l8bm" href="https://www.facebook.com/hashtag/supportlocal?__cft__[0]=AZXPL30LVqHPUS3a88Pb4wqVImiF6aT1U9IOnPB6XVwltYSq2pzP6yjs5vB-pAm-AlGlV3229H5gdvV_RxFSrmnKHC8-dYAcYjXwjFEBULgpVRbC5PH9mgF4OQU2yuMP5jI&__tn__=*NK-R" role="link" tabindex="0" target="_blank">#supportlocal</a> fanatics (we are, after all, a local small business as well). We can't wait for Kay's to officially open!
2023-12-06T12:14:00-07:002023-10-31T11:18:28-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7205RAP Review: 'Forever Grateful'“Rachelle is amazing! She stuck by my side for almost 2 years looking for the perfect houses, showing me houses that she knew I wouldn't like but still very happy to help. Any questions I had she always answered pretty quickly. She has quite the tool box of references which was great. The process was very smooth once we found a house and I am forever grateful for such a wonderful lady!”
– Denver Corbin
2023-12-04T10:57:00-07:002023-10-31T10:10:10-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7170Top AI Tools for Redecorating or Remodeling Your HomeLooking to give your home a makeover? Get a glimpse of your dream home with these innovative AI-powered tools.
1. Remodeled.ai: This online interior designer uses artificial intelligence for a variety of design options, so you can see the finished renovation before committing. After taking pictures of your house, you choose the architecture and interior design style that speaks to you, and the tool creates options for flooring, walls, and more.
2. Home by me: This home décor planning tool is super easy to use. Choose your furnishings and accessories and convert the 2D image to 3D for a real-life look at the finished design.
3. HomeDesignsAI: After uploading a photo of your home, you can reimagineits interior, exterior, or landscaping using AI with over 40 different design styles.
Don't forget to save this post! Whether you're redecorating a room or planning a major renovation, these AI tools can help simplify the process and bring your vision to life.2023-12-01T11:51:00-07:002023-10-20T10:55:11-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7169How This Homeowner Turned $22k into $45kNavigating the world of strategic home upgrades can feel overwhelming. Yet, the right investments could significantly boost your home's value when you're ready to sell.
Let's look at an example. Meet Quinn, a budget-savvy homeowner who strategically upgraded her home and reaped the rewards when it came time to sell. Here's what she did:
→ Enhanced Curb Appeal: Quinn invested $5,000 in her home's exterior with a fresh coat of paint, a new front door, and upgraded landscaping. This immediately elevated her home's appeal and added an estimated $15,000 to her home's value.
→ Kitchen Makeover: With a budget of $10,000, Quinn updated the kitchen hardware, added contemporary light fixtures, and swapped old appliances for energy-efficient models. The result was a modern, functional kitchen that increased her home's value by an estimated $20,000.
→ Bathroom Revamp: Quinn allocated $7,000 to update worn-out bathroom fixtures, install a chic vanity, and add better lighting. These strategic upgrades gave her home a modern look that added an estimated $10,000 to her home's value.
In total, Quinn invested $22,000 into strategic upgrades and increased her home's value by an estimated $45,000 – a net gain of $23,000.
This is a hypothetical situation, and remember that every home is unique! The best upgrades for your home will depend on its current condition, your budget, and local market trends.
If you're curious about which upgrades could offer the most bang for your buck, let's chat! We can provide a personalized plan based on your home and our local market. Send a message, and let's ensure you maximize your home's potential value when it comes time to sell!2023-11-29T11:46:00-07:002023-10-20T10:51:00-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7168Meet the Team: Rachelle Cochran
It's a Meet the Team Monday!👋
This week we're introducing Rachelle Cochran:
What is your favorite part about your work as a Realtor? Being a Realtor gives me the opportunity to get to know so many new people and build a variety of different relationships! Not only that, but then I get to help them achieve what may be one of their biggest goals....home ownership! Seeing the joy on their faces when I get to hand them the keys to their new home is so fulfilling!
What do you like to do when you're not working? Spending as much time as I can chasing and playing with my toddler! When the time allows I also enjoy soaking up some sun and fresh air while going on a walk, bike ride, camping, and playing fetch with the dogs. My husband and I enjoy sitting outside on the patio to unwind and relax or lounge around and put on a good show.
What is a favorite piece of advice or quote? "The future belongs to those who believe in the beauty of their dreams." - Eleanor Roosevelt
2023-11-27T11:37:00-07:002023-10-20T10:43:34-07:00Angela McKenzietag:realadvantagepartners.com,2012-09-20:7167Giving ThanksIt's the day after Thanksgiving. This dishes are (mostly) done, the house is (relatively) quiet, leaving a little time and room to reflect on gratitude (what else?). What are we thankful for? A quick text to the team reveals the following:
Our families, who put up with our crazy hours, waves of emotion, incessant shop talk and call for assistance.
Our colleagues, who help us learn, earn and survive.
And most of all, our clients, who are the reason we get up in the morning, get in the car at all hours, get better (personally and professionally) and get the job done.
By the way, some of our team were "on the job" when they responded to that text. It may be the day after Thanksgiving for most people, but for us, it's just another Friday.2023-11-24T11:16:00-07:002023-10-20T10:35:37-07:00Angela McKenzie