Tag Archive for: Increase Market Value

4 Home Upgrades That Increase Property Value

4 Home Upgrades That Increase Property Value

4 Home Upgrades That Increase Property Value

 

Houses are a great investment because you can vastly improve their value if you know what to do. Here are four home upgrades that increase property value.

 

Homes are one of the best investments you can make. Unlike cars, which are constantly depreciating, houses can be made far more valuable the more you renovate them. To get the most out of your home, you should consider exploring your options. To help, here are four home upgrades that increase property value.

Kitchen Remodeling

Everyone needs to eat, and thus we spend a lot of time in our kitchens. Whether you only make minor updates or major renovations, both are good ways to improve your home’s value. When prospective buyers look for new homes, the kitchen is one room that is often a major deciding factor. New appliances, a fresh coat of paint, or simply finding ways to make it easier to socialize with guests from within the kitchen are great improvements to make.

Landscaping

Another good area to focus on is your yard. Natural elements are pleasing to the senses and can make any property look better. Good landscaping will boost your home’s curb appeal and show that you’re dedicated to taking good care of your home and property. With how much desert there is in Arizona, adding a bit of greenery can go a long way in making your home seem more colorful and appealing.

Backyard Offices

Adding square footage to your home is a surefire way to increase your home’s value, and with more people working from home than ever before, a backyard office may be your best investment. Prefabricated backyard offices come in multiple styles for you to enjoy and best complement your property. These styles can be further customized to suit your preferences and provide all your functional needs.

Updating Utilities

If you don’t want to make massive changes to your home, you can always just take the time to upgrade your home’s utilities to ensure they’re functioning properly. This is one of the best home upgrades that increase property value because there’s nothing worse than a home that looks great but will require a lot of refurbishing after the new owners move in. This includes updating old HVAC systems, electrical work, plumbing, and more.

 

How To Simply Add Value to Your Property on a Small Budget?

How To Simply Add Value to Your Property on a Small Budget?

How To Simply Add Value to Your Property on a Small Budget?

 

Adding value to your property is one of the smartest investments you can make. But how do you go through a home renovation project if you’re working on a tight budget? Surprisingly, there are quite a few changes you can make that won’t break the bank but will add extra charm and value to your home. Here are a few examples to help you get started with this endeavour.

Redo the paint job

They say you shouldn’t judge a book by its cover, but properties aren’t books. A good look can go a long way when it comes to increasing a home’s resale value.

There’s no better way to revamp your home’s exterior than with a fresh coat of paint. After a while, your home’s façade might fade or crack in certain places, which can give it a rundown look. To remedy this, you can always go for a paint job. It’s a quick and inexpensive way to freshen up the exterior and give it some extra flair.

One of the best parts about an exterior paint job is that you can choose some new colours to switch things up. Don’t go for anything too tacky or out there, as you don’t want your home to stick out too much. Your best bet would be to choose two complementary colours to add some depth to the view.

Add bathroom touches

The bathroom is arguably one of the most important rooms in your home. When it comes to renovations, it’s also one of the most expensive ones. Redoing things like tiles and large fixtures can be a costly endeavour, but these aren’t the only changes you can make to up the value. Some minor adjustments can add to the luxury factor of your bathroom quite a bit—you just need to know where to look.

Starting small gets you a lot more bank for your buck. Choosing standout fixtures like faucets can make for a gorgeous design, which is why bronze details have become so popular in recent years. New cabinetry and handles can make your doors look fresh as new, while also making them stand out more. Introduce a bit of greenery to add more charm. There are plenty of plants that thrive in the hot and humid atmosphere of a bathroom, and their colour and texture make for gorgeous details.

Keep things cozy

People like homes that have a cozy atmosphere. Comfort is a big part of a house’s value, especially if buyers intend to keep things like furniture and accessories. If you’re aiming for a cheap overhaul, adding some coziness can go a long way.

Rugs and carpets are great options for floor accessories, and carpeting can even be used as a cheap alternative for regular flooring options. Consider adding large and conspicuous curtains to windows. They help add a dark and cozy atmosphere to spaces, which can be great for areas like the bedroom or living room.

Furniture should also be as comfortable as possible. Adding a large sofa and armchair in the living room makes for a gorgeous sight and provides great seating for entertainment systems. Bean bags have become especially popular in recent years. Not only are they cozy and lightweight, but people can adapt them to just about any room. A simple bean bag sofa can up the coziness factor of a room significantly without incurring a high price. Consider placing a few around the living areas as well as a few in the bedroom.

Groom the garden

Speaking of plants, the backyard and garden can have an enormous impact on your home’s value. They’re some of the first things prospective homebuyers will see, which is why you have to maintain them properly.

Adding new elements to your outdoor area is much cheaper than you might think. A simple gravel path that leads to the front door or garden doesn’t take a lot of work, but it adds quite a bit of value. Lighting is another great option to consider for the outdoor area. You can place LED lights on small poles or integrate them into the ground to illuminate a path or part of your backyard. These lights are pretty durable, so you wouldn’t have to worry about them failing due to weather. Plus, they can last you a while without needing to be replaced.

When it comes to plants, the sky’s the limit. You should add pots to any bare walls that don’t have any interesting elements. Ivies and similar plants can cover a lot of surface without needing a lot of ground, so you should consider them for any walls or pergola pillars.

Conclusion

Adding value to your home can seem like a difficult task if you’re on a budget, but it’s perfectly doable with the right changes. Even small-picture adjustments can make your home look much more appealing. It always helps to think about areas that need the most improvement first. When you come up with a plan, make sure to take it a step at a time. Some changes may be a bit more expensive than you expect, while others could turn out to be cheaper than expected. Start with some of the elements we’ve covered and you’ll be more than satisfied with your home’s appeal.

Additions That Will Increase Your Home Resale Value

Additions That Will Increase Your Home Resale Value

Additions That Will Increase Your Home Resale Value

 

Getting to make your home exactly how you want it is one of the best parts of homeownership. However, you also need to keep your home’s resale value in mind as it ages. Most people don’t live in the same house their entire lives, so it’s worth the effort to make your home attractive to potential future buyers. In this article, we’ll go over a few additions that will increase your home resale value to help you decide on what might be worth your time, effort, and money.

Energy-Efficient Installations

Energy efficiency and conservation are on a lot of people’s minds nowadays. A lot of smart technology—smart thermostats, for example—have the specific intent of conserving energy, and many buyers love these additions to a house. If you plan to live in your house for a while longer but still want a worthy investment, installing solar panels can improve your home’s energy efficiency while still increasing its attractiveness to buyers in the future.

Landscaping

The outside of your home is the first thing a potential buyer will see when it comes time to sell. That’s why good landscaping goes a long way. Putting in more greenery, adding on a deck or patio, or even installing a water feature can transform your home’s exterior to attract more attention. Just consider the maintenance work involved when you want to add these kinds of additions.

Finish the Basement

Many homes have unfinished basements, even though leaving them that way wastes perfectly good floor space. Having a useful basement instead of just a sparse underground area can pay off a lot when it comes time to sell your house. This is true of your attic as well; if you have the space available to you, you might as well utilize it to its fullest potential.

Increase Floor Space

Perhaps the biggest expense in terms of additions would involve adding onto the entire home itself by expanding the floor plan. Adding on more rooms or knocking out walls that create unnecessary barriers increases the amount of usable floor space, which translates directly into more money when you want to sell your home.

Home Office

One of the most recently relevant additions that will increase your home resale value is creating space for a home office. Working from home is much more common right now, but not everyone enjoys working from their couch or kitchen table. Having an extra space just for work is a big plus for many people who work from home.

 

6 Items in Your Home You Should Repair Rather Than Replace

6 Items in Your Home You Should Repair Rather Than Replace

6 Items in Your Home You Should Repair Rather Than Replace

 

Who among us hasn’t spent exorbitant amounts of money replacing something we just didn’t feel like fixing? It might save you some time, but the cost of always replacing things can put a real dent in your wallet. There are some items in your home you should repair rather than replace based purely on the cost-effectiveness. We’ll go through a few of them so that you can decide if making those repairs is worth it.

Upholstered Furniture

A big rip in your favorite chair or couch is always going to be a headache to deal with. Considering how much you probably paid for that chair or couch, fixing it rather than getting an entire new piece of furniture is definitely worth it. You can fix upholstery yourself if you want to, but even having it repaired professionally will cost you less than a replacement.

Luggage

Quality luggage bags are hard to come by, and they don’t come cheap. If you stuffed your bag a little too full the last time you traveled and broke a zipper, don’t waste your money on a new bag. Plenty of places, such as dry cleaners and tailors, can fix broken zippers for far less money than a new bag would cost you.

Carpets & Rugs

One item you want to repair instead of replacing is your nice carpet or rug. For how little space they take up in a room, carpets and rugs are quite expensive. If you have one you really enjoy and want to keep for a while, you can get it patched up properly without ruining its look. You can actually restore rugs in surprisingly bad condition if you have the right help.

Shoes

Some people enjoy collecting new shoes as a hobby, but not everyone needs to spend that kind of money. If you have a pair of shoes that are worn in, a good cobbler can resole them for you for a fraction of the cost of getting a new pair. If the tops of the shoes are still good, a new sole can breathe a lot of extra life into them.

Televisions

If you want a little more of a challenge, you can save a lot of money by repairing your television instead of buying a whole new one. This requires a little technical know-how and the right replacement components, but those components won’t break your bank like a new television set would. You can also order the parts yourself and pay someone else to install them if you’re sheepish about the process.

Jewelry & Watches

Accessories for which people have to save up shouldn’t need replacements because of one small setback. A broken clasp or watch needle doesn’t mean that piece is now useless. Any jeweler worth their salt can repair a necklace or bracelet. You can even bring complex watches back to life with a few spare parts.

 

How Can You Raise the Value of Your Property Through Home Staging

How Can You Raise the Value of Your Property Through Home Staging

How Can You Raise the Value of Your Property Through Home Staging

 

Staging, according to the Real Estate Staging Association (RESA) is the preparation of residential or commercial properties for sale in the real estate marketplace. It’s bringing the property up to a level that will appeal to a larger number of potential buyers for the highest price possible. Contrary to general belief, home staging differs from decorating in the sense that decorating a home reflects your personal style, while staging is a way to show your home’s assets and promote it to a larger pool of buyers.  

 

Especially with the pandemic, having photos, videos, and virtual tours of homes has become more important since these have helped buyers plan their in-person tours and potential purchases. A 2020 survey from RESA has shown that 85% of staged homes were sold for 5-23% over listing price and sell faster, with an average of 23 days on the market. With a significant financial transaction such as selling your home, you wouldn’t want to settle for a lower selling price and a longer selling period. Here are a few ways of how you can raise the value of your home through home staging.

 

Clean and declutter

If your appliances or furniture aren’t new, make sure everything is spotless. Clean tables and countertops, dust visible surfaces and straighten up linens. The goal is to make the home appear brand new. Declutter, put away things not used daily and other seasonal items or decorations, and dispose of things not needed, the more empty space, the better.

 

Remove personal touches

To make your home appeal to others more, keep picture frames, personalized items like monogrammed pillows and towels away. Put away clothes hanging on chairs, drawings and notes posted on the refrigerator, certificates or diplomas hanging on walls. Make your home feel like anyone can settle in it versus show who currently lives in it.

 

Freshen everything up

Your current wallpaper and paint-color choices may not appeal to everyone. It’s best to strip old wallpaper and old paint jobs and use warm neutral colors to make it easier for potential buyers to envision how they would decorate the space in the future. Remove old and soiled carpets and opt for lower maintenance options like hardwood floors, ceramic tiles, or high-quality vinyl tiles that mimic these materials, which could also appeal to people with allergies. Maximize your home’s natural light, have curtains and blinds, and have all the lights on when staging your house. Brightening your home when staging can make the place appear bigger and is more appealing to the eye.

 

Define rooms

Your entire house need not be staged, but clearly defining the living room, kitchen, master bedroom, dining room, and bathroom can help potential buyers envision themselves living in the space better.

 

Address any repairs

Selling a home in need of repairs may not be as easy as selling one with little to no repairs needed. Before staging your home, ensure to check for molds and damp spots around the house, look for light fixtures that may need repair or replacement, and look for cracks in walls and ceilings and other foundation problems. You could alert potential buyers about these problems, but getting these fixed will be better to get the house sold quicker and at a better price too.

 

Curb appeal

Once you’ve taken care of the interior of your home, don’t forget about the exterior. The exterior of a home can impact a potential buyer’s first impression of a home since this is the first thing they will see when they make their visit. Get rid of weeds, mow your lawn, make sure shrubs, bushes, and other plants are pruned. Make sure that your windows are clean as well, and if you’re unable to repaint the exterior of your home, you can opt to power wash it to give your home a fresher, newer look. You can also replace doormats and clean up lawn tables and chairs you have outside.

 

Finishing touches

When opening your home for showing, adding a few finishing touches can help pique potential buyers’ interest in your home. Give your living room a fresh look by adding some indoor plants or flowers in vases, light subtle smelling candles in the bathroom and bedroom, and have clean linens in every room.

 

Staging a home doesn’t have to cost much, but make sure the home’s best features are highlighted when you do so. Stage your home to appeal to a wide market but also consider what would make the home usable to potential buyers. Staging your home to appeal to a wider market will get you more offers, in turn, increasing the value of your home as well.

How To Decorate Your Home Without Breaking the Bank

How To Decorate Your Home Without Breaking the Bank

How To Decorate Your Home Without Breaking the Bank

 

The tradeoff to buying a house of your own is that you can finally decorate the way you want, but the down payment might have left you without much money left. It’s a common problem, and there are ways around it. Decorating and beautifying your home doesn’t need to drain your bank account; you just need to know how to do it correctly. We’ll show you how to decorate your home without breaking the bank so that you can make that new house feel like home.

Figure Out What You Value

You’ll need to start by deciding what is really important to you and, conversely, what you can live without. The more you understand your own tastes, the less money you’ll spend trying to figure them out. Do you like bright colors? Are you really into plants? Whatever your aesthetic may be, knowing it strongly will help you make those tough choices between what to get and what to let go.

Secondhand Shop

The thrift store is your friend if you’re trying to decorate your home on a budget. You can save a lot of money by buying used instead of new furniture and decor items. The added perk is that your house won’t look as cookie-cutter as everyone else’s. You can really turn your space into something unique using the things you find at thrift shops, secondhand stores, and flea markets.

Always Look For an Alternative

When something really catches your eyeF, it’s hard to let it go. However, when you’re on a tight budget, you always need to second-guess any purchase you make. If something’s caught your eye, could there be a cheaper and similar alternative? For example, there may be a leather armchair you like, but have you considered a cheaper recliner instead. The answer is almost always yes; it just takes a little more time digging in the right places.

DIY Projects

For the craftier folk, you can’t go wrong decorating with something you made yourself. Wall hangings, furniture, gardens—anything you can make for yourself will be less expensive than buying it brand-new. It also adds a personal touch to your space, which helps it to feel less like a house and more like a true home.

Work With Light and Color

One of the easiest ways to change up the look of a room is to change the color or lighting in it. Adding brighter daylight bulbs or slapping on a new coat of paint to a wall might just make the big difference you were looking for. These solutions also don’t cost very much money, especially considering how drastic an improvement they make.

 

Why You Should Hire a Professional for Home Projects

Why You Should Hire a Professional for Home Projects

Why You Should Hire a Professional for Home Projects

 

Unless a house is newly built, homeowners often have several areas they want to redo. Unless you are a tradesman yourself and know what you are doing, you should consider hiring an expert for all those projects you are considering. For more insight on why you should hire a professional for home projects, as well as the benefits that come with it, continue reading below.

Have Experience

Professional contractors do home projects for a living. They have seen almost all house types and situations. Therefore, they have the experience and knowledge to complete a variety of projects with precision. A project will not look the same if it’s completed by someone who does not have the proper experience. This reason alone is a large enough factor when debating between a DIY home project or hiring an expert.

Can Complete Projects Safely

Some projects can be dangerous, especially if you are not sure what you are doing. In order to stay safe and keep your house secure, hiring a professional to handle what could be a threatening situation is the way to go. You don’t want to get hurt, and you really don’t want to hurt the stability of your home.

The End Result Will Be What You Want

Though a DIY project may sound like a good idea, the end product likely won’t match your vision unless you are skilled in that area of work. This means you will have to settle for subpar quality. However, a professional can perfect that end result and make the home project everything you want it to be and more.

These three points have shown you exactly why you should hire a professional for home projects. You don’t want to settle for an end product that doesn’t match your original design vision. In addition, you don’t want to put your safety at risk. Be a responsible homeowner and just hire a contractor!

 

Benefits of Installing Stainless Steel Balustrade?

Benefits of Installing Stainless Steel Balustrade?

 

The demand of using stainless steel balustrade is increasing day by day. It looks aesthetically pleasing, but it offers great safety to its users, especially the elderly people. The best part about using stainless steel is that they are extremely easy to maintain. You will never have to take any headache with the cleaning process. You can use any common cotton cloth or a brush to clean the balustrades with ease.

Benefits of Installing Stainless Steel Balustrade?

Some of the benefits of installing stainless Steel Balustrade are as follows:

 

  • It Has High Durability: Stainless steel balustrades have high tensile strength and anti-rust properties to keep the railing looking.
  • It Is Budget-Friendly:Compared to other kinds of railings, stainless steel balustrades are economical. They are also easier to maintain as the material is compatible with any weather.
  • It Is Highly Aesthetic:The stainless steel balustrade looks extremely beautiful. It has a sleek and minimalist look that makes any space look suave.
  • It Provides Safety: Last but not least, stainless steel balustrade protects people from dangerous areas. If people fall, they can severely injure themselves. Its strength and durability protect individuals from tripping over. 

 

However, to install the steel balustrade at your place, you need to find the professional to get the job done with utmost accuracy.If you do not see a suitable contractor, the whole plan can fail, and the balustrade installation project yields unfavorable results. So take the help of the tips given below to find the perfect company to hire for the stainless steel balustrade installation work.

 

Tips For Finding The Best Company For Installing Stainless Steel Balustrade:

 

  • Experience Of The Contractor:

The experience of the contractor who will install the stainless balustrade is of utmost importance. This would ensure that the work done on your property will be of top-notch quality. Having a proper certification is not enough. With experience, people gain incredible knowledge that cannot be achieved any other way.

 

It would be best to ask for testimonials from the contracted to see how long they have to work in this field. The reviews left by the contractor’s previous customers will also help gain insight into this.

 

  • The Work Ethic Of The Company

The company’s work ethic, handling customer service, is another essential feature that must be kept in mind. The company should provide you with time to discuss in detail the vision you have for the stainless steel balustrade, which will be installed in your home or office. You do not want to work with a rude contractor or a contractor who doesn’t follow through with deadlines.

 

  • Check If The Company Is Allowing For Customization.

There are many kinds of designs for stainless steel balustrades. Suppose you have a particular plan and mind check if the company of your choice is allowing for customization. Many companies make custom stainless steel balustrades so that you will have plenty of options out there without any hassle.

 

Conclusion

 

Railings are one of the most critical features of any building. Even some places will make it mandatory as a part of the Building code to have proper balustrades. You can understand that this is extremely important for safety purposes. For this reason, you cannot make the mistake of putting your faith in an inexperienced or uncertified contractor.

 

Benefits of Installing Stainless Steel Balustrade?

 

Stainless steel balustrades look glamorous, require minimum maintenance and most interestingly, you do not have to add chemical coatings in it. Stainless steel balustrades require minimum maintenance and most interestingly, you do not have to add chemical coatings in it. So, what are you waiting for? Beautify your home by installing these highly noticeable in your balconies and handrails today.

Home Improvement Projects To Leave To the Professionals

Home Improvement Projects To Leave To the Professionals

Home Improvement Projects To Leave To the Professionals

 

Sure, taking on a home improvement project on your own can save you some money. However, it can also leave you with damaged property, a botched renovation, and even a few injuries if you aren’t cut out for the job. While some home improvement projects can be done on your own, others require professional experience. Unless you want to risk your safety and the well-being of your property, here are some of the home improvement projects to leave to the professionals.

Upgrading Your Roof

Investing in a new roof can help boost your home’s resale value and improve its appearance—if the job is done right. Installing a new roof or updating an existing roof is a highly complex process. A roof consists of several layers that must be installed correctly in order to properly protect your home from the elements. If you make a mistake throughout the process, you may have to deal with leaks, mold outbreaks, and potential cave-ins, which can significantly damage your home. Plus, working on top of a tall roof is dangerous without the proper equipment and experience. To avoid joining the thousands of people who die from falls each year, leave roof upgrades to the professionals.

Installing Insulation

Another home improvement project to leave to the professionals is installing insulation. Often, people who attempt to install insulation on their own end up missing small nooks and crannies and leaving multiple gaps. Because insulation is meant to create an air-tight seal to prevent the flow of heat, such gaps render their project extremely ineffective.

In addition, another common mistake people make when installing insulation is accidentally covering up vents. This faux pas can result in increased humidity and a greater risk of mold outbreaks. To ensure your insulation is effective and to avoid damaging your home, you should probably leave this project to the pros.

Tearing Down Walls

If you’re interested in creating an open floor plan, think twice about tearing down your home’s walls on your own. While demolishing a wall may not seem all that difficult, doing so isn’t always as easy as it looks. Often, walls may have electrical wiring or plumbing running through them. Trying to tear out such a wall could cause your home to flood or result in you getting electrocuted. In addition, the wall you want to remove could support another area of the house, which means taking it down could reduce the structural integrity of your home. To prevent such dangerous and destructive events from occurring, we suggest hiring a professional to tear down any walls you want to remove.

 

Ways To Make Your Home More Attractive To Buyers

Ways To Make Your Home More Attractive To Buyers

Ways To Make Your Home More Attractive To Buyers

 

Putting your home up for sale is a true test of wills. You have to keep track of and stay on top of so many different aspects of the process. One of the biggest things you need to worry about is whether your house looks good enough to show potential buyers. If you want to catch someone’s attention, you’ll need to put in the work. To help you out, we’ve come up with a few ways to make your home more attractive to buyers.

Keep It Clean

It should go without saying, but if you want to make your home more attractive to a potential buyer, it needs to be tidy and well-kept. Performing simple cleaning tasks like mopping, dusting, picking up clutter, and doing dishes creates a space that looks more appealing to someone searching for a new home.

Consider Some Upgrades

You may enjoy your house the way it is currently, but some upgrades will definitely increase your home’s valuation. You don’t need to go crazy and add a ton of new projects to your to-do list, but take a moment to look for the outdated and underperforming parts of your home. Then you can bring them back up to standard.

Stick To Neutral Colors

A common trick that house flippers use to make a home more attractive is to keep all the colors in the home as neutral as possible without making it dull. Bright and loud colors can overwhelm the senses and give some rooms a strange feeling that buyers won’t like. Neutral colors keep the focus on the space itself instead of the color of the walls and ceilings.

Don’t Forget Curb Appeal

People should want to come in and see your house just by looking at the outside. There are plenty of ways you can make your outside look inviting:

  • Trim and maintain hedges and bushes
  • Cut the grass evenly
  • Trim or remove any dead or dying trees
  • Place outdoor furniture on patios
  • Create an eye-catching front door

Create More Space

A significant factor that a lot of buyers consider in a new home is how much space they have to work with. If you live in a smaller home, you can use a few tricks to make the space seem much bigger than it is. Lighting, especially natural lighting, can go a long way to opening up an otherwise cramped room. You can also hang mirrors to give the illusion of a much larger space.

 

4 Shockingly Simple Ways That You Can Make Your House Cheaper To Live In (Without Having to Move)

4 Shockingly Simple Ways That You Can Make Your House Cheaper To Live In (Without Having to Move)

4 Shockingly Simple Ways That You Can Make Your House Cheaper To Live In (Without Having to Move)

 

If you’ve spent any time reading about personal finance, then you already know that budgeting while trimming monthly expenses is all the rage these days. 

But while it’s easy enough to drop your unused magazine subscriptions or buy store brand ketchup, those smaller expenses don’t even begin to touch the one, major expense that most Canadians have to make every month:

Their homes. 

As it turns out, even with a fixed payment as big as the one you pay for your house, there are still ways that you can make it more affordable. So without further ado, here are 4 insanely clever ways that homeowners can make their cost of living a little cheaper. 

1. Refinance Your Mortgage

 

“Refinance” is a word that gets thrown around a lot even when people are a bit fuzzy on what it means. But basically, mortgage refinancing is an option that involves paying off a mortgage by taking out a second one. Between the opportunity to renegotiate repayment terms and the ability to take advantage of lower interest rates, there’s a lot of opportunity here for homeowners to enjoy reduced interest payments for . 

2. Lower Your Insurance Payments

In some regards, insurance is a catch-22. 

On the one hand, you’re often legally obligated to carry some form of insurance. But on the other hand, there’s often a hefty bill you’re expected to pay every month that comes with it.

And because insurance is necessary, many Americans don’t realize that they have more influence over their insurance bills than they think.

Some of the ways you can lower your insurance payments include making annual payments, bundling your insurance, or shopping around for different providers. And, if you’re comfortable with it, you may even be able to reduce your deductible in order to make your monthly payments even lower. Even if you manage to shave off just $20 a month, that can still add up to a substantial sum over the course of a year.

 

3. Become a House Hacker 

Imagine a living situation where you’ve got a mortgage but you don’t have to pay a dime towards it. Or better yet, imagine a scenario where other people are paying you to pay your mortgage. 

Sounds like a geat deal, right?

House hacking is a concept that’s been blowing the minds of financially-savvy people for a while now. The gist of the idea is that one person buys a house and then rents out multiple rooms or floors in order to substantially reduce, or potentially eliminate, their own monthly mortgage payments.

If you’ve ever watched the mortgage money leave your account and thought, “Man, if I didn’t have to pay this my finances would look so much better.”, house hacking could be the solution you didn’t know you were looking for.

4. Use Less Energy

Forgetting to turn off the lights here and there is normal. But when it becomes a habit, you could find yourself with some hefty utility bills on your hands.

As it turns out, however, you don’t have to deck out your house with solar panels and wood fireplaces to trim those energy bills in the winter months. All you need is a little bit of know-how.

From easy steps like using energy efficient lightbulbs to larger and more coordinated strategies around programming your thermostat, there are plenty of ways to painlessly cut down on household energy consumption. And once you get into a routine that regularly reduces the energy you’re consuming, you should eventually see that reflected in your energy bills. 

 

Conclusion 

As far as regular bills that put the biggest dent in your bank account go, for most Americans, the mortgage and other home-related expenses sit at the top of the list.

And it isn’t even close.

Even though most Americans would agree that mortgages, utility bills, and insurance all need to be paid, many would be surprised to know that it’s possible to reduce these bills. 

We just gave you four examples of how you can finesse your way to lower home-related expenses. Take a deep breath, take some notes, and think these tips over. Can you implement some or all of them? Try it out and see what kind of money you can save on your living expenses today.

Arizona Property Market Update and Forecast

Arizona Property Market Update and Forecast

With all the recent unrest that the U.S has experienced and the devastation that Covid-19 has brought upon the nation at large, it’s not surprising that the property market has been in a state of ongoing trepidation. So, just how has the state of Arizona fared, and what is predicted moving forwards?

Arizona Property Market Update and Forecast

Photo by Ralph (Ravi) Kayden on Unsplash

Arizona property values will continue to rise

Arizona’s home prices have continued to climb steadily for many years now, and Covid-19 hasn’t slowed them down. According to Neighborhoodscout data, the state’s property values have increased by a substantial 128% since 2000, averaging a rate of 4% annually.

 

So, Arizona’s home values are set to continue rising into 2021, with Zillow forecasting an 8% increase between now and September 2021. Veros Real Estate Solutions have released data revealing that the hottest housing market in 2021 is predicted to be Sierra Vista, with an anticipated 5.8% rise in home values.

The population of renters may increase

As home values continue to rise, affordability will continue to be an issue for residents in Arizona. The rise of values has been pricing some would-be home buyers out of the market for some time now. Despite mortgage interest rates staying low, they won’t necessarily be able to offset the pace of value increases for every buyer.

In addition to this, like most of the country, Arizona is currently struggling to bounce back from high unemployment rates, only adding to the increase in renter population. It is predicted that renting will continue to be a more affordable option than home-buying into 2021 and potentially beyond.

Arizona is not likely to experience a Housing Market Crash in 2021

According to the Housing Market Recovery Index published by Realtor.com, Phoenix-Mesa-Scottsdale (the largest metro in the Arizona property market) is making a strong comeback since the decline of early 2020. This index takes into account Phoenix home prices and housing supply and demand, as well as the home sales pace. The metro passed the recovery benchmark officially back in July and has been continuing on a positive trajectory ever since.

Whilst this is only based on one state area, it is indicative of just how well Arizona has fared in terms of Covid-19 recovery. Based on these insights, experts do not predict a housing market crash for Arizona in 2021.

The 2021 Arizona housing market is set to be a seller’s market

Typically, a buyer’s market is characterized by excess supply and low home prices, and this is not currently where Arizona is sitting. With continued home value increases, the stage is set for eager sellers to capitalize upon their property appreciation gains. Referring back to the Housing Market Recovery Index, we can see that the active listings in the largest metro area are down by over 40% year-on-year, with days on market also down by 18% year-on-year. Demand seems to be high as supply is dropping.

With no major changes to these trends on the horizon, these market insights make a strong case for a seller’s market for Arizona in 2021.

Mortgage rates should stay grounded

The 30-year average fixed mortgage rate has, until recently, been hovering at a 50 year low of just 2.75%, with refinancing rates in the region of 2.45%.

That said, rates have jumped up a little recently, but only to an average of 2.79%. According to a recent report issued by themortgagereports.com, the Federal Reserve is set to preserve its low benchmark rates until 2023 – so, for the foreseeable future, there should be little-to-no change.

Nevertheless, even slightly higher interest rates coupled with more stringent lending criteria requirements could see a subtle change in the market, further bolstering the rent-instead-of-own trend.

Is now a good time to invest in Arizona?

The short answer is, ultimately, yes.

For real estate investors who are competitive and have cash reserves, the housing market in Arizona could be a solid investment, as it is proving long term to be a steady market with very little risk. The Arizona housing market is ideal for stability and long-term gains.

The state’s housing inventory is currently low, especially considering the height of demand the market is experiencing. Whilst this creates a seller’s market, it also makes for a competitive purchasing environment, meaning that some investors could be left behind. For any investors prepared to enter the Arizona market at premium prices and bet for the long game, it’s still an attractive market – there will still be a good return on investment, with plenty of tenants to service rentals.

Ultimately, Arizona has weathered the storms of the last year well. Its property values continue to increase and whilst the low supply has tipped the landscape into the seller’s favour, like the rest of the country, supply may very well start to increase as fears subside and the new administration settles in. The year ahead looks surprisingly bright.