Is Gray Out and Color In This 2020?

It’s a new year, and you know what that means — it’s time to redecorate and update home decor!

 

For 2020, home decor trends seem to lean towards less monotonous colors like gray, whites, and beiges and more towards accents and colors. 

 

Below are a couple more predictions from well-known interior designers about what kind of home decor will trend in 2020. 

1).The return of floral wallpapers

Wallpapers died out a couple of years ago (or more like a decade), but better and more affordable alternatives have led to their comeback. In particular, modern floral-patterned wallpapers are expected to trend this 2020, such as those with metallic and textured designs, or bold patterns. 

2).Bluer than blue

No, we’re not talking about Michael Johnson’s classic song. We’re talking about how blue will take over design trends this 2020. This is largely because the Classic Blue color was declared by Pantone as the Color of the Year for 2020, and well, why not? From the Classic Blue to the Navy and Royal Blue colors, expect this highly versatile and sophisticated color to be the trend going forward.

3).More color, especially in kitchens

For years we’ve been told to stick to a couple of colors in kitchens. Not this 2020. 

 

From a mix of bright colors and natural wood shelves to whatever it is that you can think of, we’re slowly deviating from plain-colored kitchens to more colorful alternatives.

4).Vintage is everything 

If it seems like we’re traveling back in time, we supposed that’s just how fashion and design works. Because, really, from the more contemporary furniture that has been the trend in recent years, we’re seeing more and more furniture start to resemble the furniture pieces of the 1800s and the 1900s. 

 

Of course, as with anything else, use vintage accordingly. Unless you’re going full-vintage, use vintage furniture and art as a statement or accent pieces. 

5).Contrasting decor

Speaking of colorful kitchens, contrasting decor is in as well.

 

For 2020, don’t be afraid to NOT blend your furniture. Invest in decor that contrasts each other, like putting light-colored kitchenware in dark-colored cabinets, and so on. This contrast in colors helps make each of your decors stand out and act as individual accent pieces instead of blending in each other.

 

Of course, these new decor trends are a mere guide. You’re still free to decorate your home as you please. But if you pair these decor trends with your imagination, you’re sure to have a beautiful home this 2020.  

 

How to Stick to Your Resolutions This 2020

New Year’s resolutions are pretty much expected once the calendar year ends. But the thing is, just as expected as these resolutions are is the inevitability that we will all fail in keeping them anyway. Most of us can’t even keep our resolutions for a week let alone for the entire year. However, even if that is true, it’s not necessarily a fact that it’s impossible to stick to resolutions. 

 

While it’s definitely not easy, you don’t have to stick to the narrative that you will fail to keep your resolution. 

 

This 2020, you can make the necessary changes to keep your resolution. 

 

Here’s how:

Make goals relevant to yourself

Who ever said that you can’t make new goals? Even though you’ve already made a resolution, you can always redo it and make a new one. This time around, make sure that your resolution isn’t just something that someone else suggested to you — it should be something that you want to achieve and is relevant to you. 

 

By setting a goal that’s both relevant and realistic, you make it more likely that you’ll be able to stick to a resolution. 

Stick to realistic resolutions and goals

Speaking of realistic, a goal should be something that you can do. Otherwise, it doesn’t matter how hard you try — you won’t be able to succeed in keeping your resolution. 

Break your resolution into smaller chunks

Let’s say that, for 2020, you want to lose weight. But exactly just how much weight do you want to lose? 100 pounds? That’s a good figure if you’re overweight if not obese. However, to achieve it, you’ll want to break it down into smaller chunks first. Case in point, instead of wanting to lose just 100 pounds, you can make it so that you’ll lose at least 2 pounds a week this 2020. 


By the time that the year ends, you’ll have lost at least 96 pounds (12 x 8), which isn’t far off from your goal. 

 

The reason for doing this is that it tricks your brain into accomplishing your larger goal by telling yourself to do it slowly.

Write down your goals

When you’re setting a goal, you shouldn’t just make sure that it’s relevant, realistic, and attainable, you should also make sure to write it down some place that you can see constantly.

 

Writing your goal down gives you something that you can use to inspire yourself week by week.

Don’t forget to reward yourself 

Circling back to the weight loss goal, if ever you find yourself losing more than 2 pounds a week, then don’t be afraid to reward yourself. Just try not to be counterproductive and reward yourself by gorging on food. Instead, opt for other things that bring you pleasure, like treating yourself to a trip to the massage parlor. 

 

Resolutions and goals aren’t bogus. They’re achievable. 

 

Thanks to these tips, you’ll not only have learned how to make a proper resolution or goal, but you’ll also know how to put yourself in the best position to stick to your resolutions for the entire year.

How to Handle Buying a Home in Retirement

“Is it better to try to sell my house fast now and then buy a property, or is it better to try and buy a property now only to sell the current house I’m living on later once I’m retired?”

 

That is the question that we’re going to try and answer today. 

 

As you near retirement age, you’ve no doubt earned yourself what’s known as the “old people credit score”, where you have a near-perfect credit score in the high 800s. Paired with the fact that you might find yourself with a huge chunk of cash by the time you retire, and it’s quite tempting to spend it on something expensive, like real estate. 

 

Which brings us the question, should you buy now and sell later, or try to sell first and then buy a property?

Why Buying Before Retiring is a Good Choice

Buying before retiring is a good choice if your finances are stable. Why? Because once you’ve retired, you’ll lose your biggest leverage of them all — your job. 

 

Your job, especially if you’ve held it for years if not decades, is your biggest asset when applying for a mortgage. This is especially true once you’ve already paid for your previous mortgage. It signals that you have the capacity to pay. On the other hand, qualifying for a loan after retiring will require you to prove that you are financially stable. This can be difficult to prove if you’re relying on investments and pensions, as well as Social Security. 

 

Not to mention, buying properties once you’ve retired means that you’ll have to put in a much higher down payment to get a loan. That is not an ideal situation. 

When Is Buying Before Retiring a Bad Choice?

While buying before retiring is a good choice, it’s not always the ideal one. For example, even if you have a good credit score, that doesn’t mean that you can take the financial hit of owning two properties at once. 

 

Remember, buying before retiring means that you’ll essentially be paying for two mortgages at the same time. Unless you’ve already paid off your previous mortgage, that can take a huge toll on your finances. 

 

This is why we recommend buying a new property before retiring only IF and WHEN you can afford to pay for both real estate properties for at least a year without struggling financially. 

 

If you can do that, then, by all means, start looking for a new retirement home. 

Why You Should Sell First Before Buying

If you do decide to buy a new property before retiring, we do recommend that you try to close the deal on your current property first before looking for your ideal home. This is because, since you are financially stable already, the worst thing that can happen to you is that you’ll have to move into a rental in case your current property is sold before you can find a new one. 

 

Even if it takes you a while to find a new home for your retirement, you’ll at the very least have cash on hand. This gives you a whole bunch of options, especially if you are financially prudent.

Talk to a Mortgage Broker Today

Regardless of whatever it is that you’ve decided to do, what we recommend is that you should talk to a mortgage broker. 

 

A mortgage broker or lender or your local credit union can help you go over your current financial situation, as well as guide you on what it might look like once you retire. They are the ones best qualified to tell you if you are better off applying for a mortgage right now while you still haven’t retired, or once you have already retired. 

 

This information is important and should come into play when deciding between selling your home right now or waiting for retirement. 

 

Speaking of selling your home, you should consider talking to a cash buyer as well. If you’ve already found a property to move into, working with a cash buyer can allow you to have the money to pay a sizable down payment on your new home in as little as a month. This way, you’ll have eased the transition of going from your old home to your new one on your finances, helping you save a lot of money in the long run. 

 

How Do Real Estate Commissions Work?

One of the more common questions of home sellers, in addition to “how do I sell my house fast?” is “how much money do real estate agents make?”

 

At this point, it’s common knowledge that real estate agents make anywhere between 5% and 6% of the final sales price. This isn’t wrong, because it’s true. But at the same time, it’s also misleading. This is because, while real estate agents do indeed receive compensation in the form of 5% to 6% of the final sales price of a property, that’s not exactly how much money they pocket per sale. 

 

The reality is that real estate agents make far less than the 5% to 6% that most people believe. This is why there’s far more incentive for them to sell numerous reasonably priced properties at a consistent pace as opposed to making a big sale or two every now and then. 

 

So, the notion that real estate agents want to jack up the price of a property to receive a hefty commission is both wrong and absurd. 

The Truth Behind Real Estate Commissions

The reality behind real estate commissions is that there are a lot of expenses involved in listing a property. This includes, among others, advertising and taking photos, as well as videos, showings and open houses, and of course, the time that a real estate agent has to spend to meet prospective buyers to sell a property. 

 

But that’s not all. That 5% to 6% real estate commission isn’t final either. This figure gets divvied up to at least 4 parties. This includes the seller’s real estate agent, the buyer’s real estate agent, and their respective brokerage companies. 

 

So, for example, in a typical home sale with a 6% commission, each of the four parties make around 1.5% each. In more unusual cases, one party might make more than the other, such as when the buyer’s real estate agent receives more compensation compared to the seller’s real estate agent. However, in most cases, real estate commissions are split equally among the four parties. 

The Cost of Being a Real Estate Agent

Working as a real estate agent might sound like a lucrative career, but it’s expensive. This is because you pay for a lot of things. This includes the use of office equipment, as well as national, state, and local dues. In addition to this, most of the costs involved in getting clients to buy a property — wining and dining, among other things — come out of the pockets of real estate agents. 

Do I Still Need a Real Estate Agent?

Good question. After all, working with a real estate agent is one of the first answers you’ll encounter when you look up “how to sell my house fast NJ”, and after having read our discussion, you’ll agree that all a real estate agent wants to do is to sell your house for a reasonable price as fast as possible. 

 

The longer that your property is listed and takes to sell, the more money out of their pockets that a real estate agent has to pay for advertising and for meeting with prospective buyers, which means less money for them in the long run. 

 

So, the next time you try to negotiate a real estate agent’s commission fees, just remember that you get what you pay for. 

 

But of course, if you really want to sell your property as fast as possible, there’s always the option of working with a cash buyer. This way, all you have to do is to let them know that your property is on sale, wait for them to make an offer, and accept the offer if the price is reasonable for you. Afterward, you’ll just have to wait for the deal to close, and you’ll be paid in a few weeks.

What Is The True Costs of Owning a New Jersey Home?

Owning a New Jersey house sounds interesting. It’s one of the most interesting cities in the world, and with the skyrocketing prices of real estate all over the United States, it’s certainly understandable that you think that it’s a wise financial decision. But that’s before you consider just how much it truly costs to own a house that you’re not actually going to live in or fully utilize.

Below, we’ve laid out some facts to help give you a better idea of how much it really costs to own a New Jersey house.

1.     Mortgage

This is the most obvious cost of owning a house. If you live there, that’s okay. It’s kind of just like paying rent, but you own the house, which is good. However, if it’s just sitting there, then you’re basically paying for nothing. Although that nothing will eventually become something, it’s still a huge cost for a house that you don’t even really like or use.

2.     Insurance

This is another cost that you have to worry about. Whether it’s property insurance, or mortgage insurance, the fact is, it’s a premium that adds up eventually.

3.     Property Taxes

Property taxes aren’t uniform, so it may cost more or less depending on where your property is. But, they very rarely set you back less than a couple of thousand dollars every year.

This is another added expense that, just like insurance and mortgage, are mandatory and you’re obliged to pay.

4.     Utilities

Even if you’re not using a house, there are still going to be utility bills that need to be paid. Without cable and internet, you’re still looking at electric, water, sewer, and maybe even trash. Those could easily add up to a thousand or so dollars a year, which is money that you could have put to better use.

5.     Maintenance and Repairs

Owning a home is a financial blackhole, unless you’re renting it out. Even then, maintenance and repairs cost a lot. Paint jobs, repairing cracked tiles and replacing stained carpets are just a few things that you’d have to worry paying for if you own your own home. Not to mention, there’s always going to be the occasional major repair that’s going to cost you more money than usual that you have to always prepare for, otherwise, your house won’t be livable at all.

If you’re renting, you avoid all of these since the rent, maintenance, and repair costs are all covered by the landlord.

6.     Your Time

Time is invaluable. If you own two homes, going back and forth between both can be time consuming and tiring. You’re essentially wasting your time doing something that you could’ve spent doing something different and more productive.

As annoying as it is to own a New Jersey home, there’s a quick solution to this – sell it to a direct buyer.

Key in “we buy houses NJ” on Google and you’ll be taken to multiple websites of cash buyers who will buy your New Jersey home at a fair price. This way, you don’t have to worry about all of the costs involved about owning a home anymore.

This is great if you plan on sticking to just owning one property, or if you want to cut down on costs and just rent instead.

Strategy behind Making an Offer

The process of looking for a home is interesting but when it comes to making an offer, things get difficult. It gets difficult if you don’t know what the best strategy to use is. Making an offer is a very important aspect of getting the best price for your home. To make sure that you get the best price for the home and avoid coming across a lot of problems and complications, you need to have a good strategy.

Tips for understanding the strategy of making an offer

  1. Purchase offers

When you find a house that you have been looking for in Bloomfield, Essex County NJ, all you need is to make an offer. The first thing to do is make a purchase agreement. A purchase agreement is a document that lists the price you are willing to pay for the house and how you are going to pay for it. The second thing is to make a purchase offer. A purchase offer contains money deposit that shows that the seller that the buyer is serious about purchasing the home.

  1. Comparative market analysis

Knowing the current trends in the market where the home you are interested in is located is very important. It is the best way you can make a good offer. You will need to ask your real estate agent to bring you a comparative market analysis list. It will help you determine the offer you are going to put on your home after comparing the recent sales in the area around your property. This helps you make an offer neither too high nor too low. Comparing the sale prices of property around your home helps you create a range of your offer and come out with the best one for your home.

  1. Time on market

The time factor is really important. If a home has been on the market for a long time, it means that the buyers are not interested in it. This could mean that the property is overpriced and that the owner could be willing to sell the home at a lower price. If the property has not been in the market for a long time and the number of buyers interested is huge, then the owner might make an offer price that is slightly higher than the asking price but not too high. 

Conclusion

Knowing everything about the seller and the home being sold is the key to making an offer. When you get to know everything, then you will be able to make an offer that they are going to accept and not bring you problems. You can also ask your real estate agent to help you come with the best offer for the home.

Tips on How to help Buyers Envision Their Lives in Your Home

When selling your home or property, it doesn’t matter how many properties you will have to compete with. You will need to help buyers to imagine themselves living in your home in Bergenfield, NJ. When a buyer imagines him or herself living in your home, then he or she has the potential of making an offer. There are several ways that can help buyers envision themselves living in your home.

  1. Create more curb appeals

To make buyers feel welcomed into your home, you need to make your home attractive. Manicure and cut your lawn properly. Another way to make your home appealing to the buyer is to clean the entry way so that it looks welcoming. If you want your home to sell fast and help buyers to envision themselves living in your in your home, you need to create a lot of curb appeal. Both the inside and outside of your home should look attractive.

  1. Stage your home properly

Proper staging of your home is another way to help buyers envision themselves living in your home. The staging process involves depersonalizing the home. This allows the buyers to picture and figure out how they can decorate the house or add some more furniture in it. To stage your home, you need to hire a professional stager to do the work properly. A well-staged house will help a buyer envision him or herself living your home. An example of how you can successfully stage your home is by setting up some of the bedrooms such as the children’s rooms. This will attract a buyer looking for such features in a home.

  1. Highlighting your house features

Some of the features found in a home include a wraparound patio and a brick fireplace. To help the buyers envision living in your home, highlighting the features that make up your home is very important. Other ways that can help buyers have a sense of how it will be living in your house include decluttering the home. This includes taking down the family pictures and unnecessary furniture. This allows you to leave the necessary things only. 

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Conclusion

When you carry out the above practices, your house will sell fast no matter what season of the year it is. This is because the above practices help the buyers envision themselves in your home and gives them a sense of how they will live in your home. Ensure that you have kept your home looking good all year round.

Biggest Mistakes First Time Homebuyers Make

There are many mistakes new home buyers make, for example, when buying your house in Greenville. There are home buyers in different parts of the world such as home buyers in Bogota, Bergen and New Jersey. These buy homes in different ways for example, those who are used to buying a house with cash. Here are some of the mistakes made by new home buyers:

Mistakes made by new home buyers
Most buyers buy with emotions. Sometimes emotions can get the best of a person. When buying a home, you need to be focused and remain that way till when the whole process is over. You should remain on the track and stick to the reason why you are buying the house and how you want the house to be. Most people fall in love with a house at first without considering why in the first place you were looking for the house. Sometime later, you realize that was not the house you wanted.
The second mistake people do is failure to know the neighborhood. Remember that when you are buying a house, you are also buying the neighborhood. You might like a house very much but end up with a neighborhood that will forever give you nightmares. To get to know your neighborhood, your real estate agent should provide you with data about the neighborhood. The data should include the economic status of the neighborhood and the security of the place. Most new home buyers make this mistake of not knowing their neighborhoods.
New home buyers get pre-approved before they get to talk with an agent. Agents close deals and work with the lenders with whom they know can close on a deal. Usually, if a lender cannot close the loan, you will not get your house and nobody will get paid. Most of the agents in different places want their clients to be pre-approved before they show them the property but here, the new buyers who are not familiar with the process get pre-approved before they talk to an agent.
There are many other mistakes new home buyers make. To fast sell property in Bogota you need to avoid the above mistakes. The biggest of the mistakes is that the first time home buyers assume that everything is good and set once they get pre-approved. The mistake they fail to realize is that they don’t know the lender is keeping track of their finances and any change can make them be all over them again.

How To Stay Organized During Your House Hunt

calendarHouse hunting is a very exciting and interesting time as you are looking at very many options that will make your future home. However, it can be very stressing and difficult sometimes. This is because you need to deal with lots of paperwork, find property that fits your budget and getting pre-approved so that you can get access to your house. Here are some of the ways to help you stay organized during the house hunting period:

  1. Create a budget

Before you begin to hunt for a house, make sure that you have a pre-approval letter. This will help you know how much you can afford to buy a house with cash. After getting the pre-approval, you can now start searching for a house or property that fits your budget. If you start looking for a house without having to draft a budget first, you might get disappointed to find that you don’t have enough money for the house you choose. It is advisable that if you can’t afford a house, then you should not go around looking for one.

  1. pexels-photo-201282Consider your priorities

Before you go out and start looking for your future home, you should sit down and draft or write down the list of features you want your house to have. This way, it will be easier looking for a home especially when buying your house in Jersey City. One can easily be carried away when looking for a house and you might end up choosing a home that is not of your choice. This is the reason why your list of the house features is needed.

  1. Go with a friend

Being alone when looking for a home can be stressing and tiresome. Buying your house in Greenville can be hectic because there are so many houses for sale. This is why you should find a friend or a relative to help you with the search. You might not notice the little imperfections of the house but your friend might notice. Some of these issues are cracks on the walls and stains in the ceiling and walls. Having another pair of eyes during this period is good.

Conclusion

Stay organized. Keep a record of both the houses you liked and those that you didn’t. Keep a list of the features that you want your house to have. This way, finding the right house will be much easier. You can also go visit the home twice after you choose one just to make sure it is exactly what you want. This will prevent getting disappointed at a later date when you come to realize that the house you choose is not good because you were not extra careful when searching.

How many cash flowing properties do you need to retire early?

From an investor’s point of view, rental properties are great ways to invest money, especially in today’s real estate landscape when it’s an uphill task to sell without a realtor. Cash flowing properties provide several benefits including steady cash flow, huge returns and tax advantages. Now, before you want to calculate how many cash flowing properties you would need to retire early, there are some factors that you must take under consideration.

  • How much you can make out of rental properties: The returns vary significantly based on the location of your property and the price you’ve paid for, among others. For instance, you own 10 properties for $75,000 to $100,000 and you receive $500 from each property. That makes it $5,000 in total per month. Cash flow properties not only help you to receive a steady income but also undergo price appreciation over time. If you can leverage the properties in proper manner, then you’ll be able to pay your mortgage and at the same time, gain equity.
  • Why rental properties are better compared to conventional methods when it comes to early retirement? Say you heavily invest in mutual funds, stock market or other bonds but in reality, you don’t have any actual control on your investments. Though you can always select the bond or the company to invest in but there is no guarantee that the bond or company will perform as expected. Once you have invested your money in, you can practically do nothing but hope that the bond/company performs well. In contrary, you enjoy total control with rental properties. Generally, you buy the property below market value. What to repair or how to finance it is entirely at your discretion. Then you rent out the property. Though you can always hire a property manager to manage these tasks on behalf of you, especially when you’ve a number of properties, you would still be having ultimate control.
  • How many cash flowing properties do you need for an early retirement? First, you need to decide on the amount that you would be requiring each month for a happy and successful life. Now, consider the amount you’re receiving each month from each of your rental property. For instance, you want to have around $10,000 per month upon retirement and currently you’re receiving something between $400 and $500 from each of your property. So, you need to have at least 20 such properties to fulfill your retirement dreams.

Finally, it’s important to note that cash flow on these properties will gradually increase over time because rental rates generally increase. Also, remember that though everyone has different aims and needs upon retirement, it’s imperative to chalk out your goals and work toward achieving them.

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