The residential rental market is now the fastest-growing segment of the housing market. In the United States, the demand for single-family rentals, defined as either detached homes or townhouses, has risen 30 percent in the past three years.1 And in Canada, rental units now account for nearly one-third of the country’s homes, with particular demand for multi-family units, including apartments and condominiums.2
At the same time, the short-term, or vacation, rental market is also booming. The popularity of online marketplaces like Airbnb, HomeAway, and VRBO has helped the short-term rental market become one of the fastest-growing segments in the travel industry.3
It’s easy to get swept up in the excitement of buying a home. Once you’ve had an offer accepted on your dream house, you’ll probably be anxious to move in. However, before you make a significant financial commitment, it’s best to know exactly what you’re buying.
When you hire a home inspector, you get a professional, in-depth examination of the property’s structures and systems. It’s a worthwhile investment that can save you money in the long run, either by warning you away from a bad purchase or by providing a list of deficiencies you can use to negotiate with the sellers.
The inspector’s report will also list minor repairs that, if made, will help to maintain your home over the long term.
Yes, there are new homes being built in California. Land is scarce and re-development is a popular option for properties near the coast, but there is always new construction on the market and always a building opportunity. Just as consistently, there are incredibly nice homes on the market, all renovated and ready to move in. Then there is the fixer-upper. Do you have what it takes to purchase and remodel?
Maybe your dream home has the intricate details that you usually find only in older construction - wainscoting and crown molding in the interior, the front porch with a swing, an older tree shading the back yard, and the white picket fence.
Or maybe your dream home has all the conveniences of modern living - open floor plan in the living and dining spaces, large windows, connected, “smart” appliances and security systems, and minimalist design elements.
It seems each season offers the perfect excuse to put off our to-do list. But be careful, homeowners: neglecting your home’s maintenance could put your personal safety—and one of your largest financial investments—at serious risk. In no time at all, small problems can lead to extensive and expensive repairs. And even if you avoid a catastrophe, those minor issues can still have a big impact.
Properties that are not well maintained can lose 10 percent (or more) of their appraised value. The good news is, by dedicating a few hours each season to properly maintaining your home, you can ensure a safe living environment for you and your family ... and actually accelerate the appreciation in the value of your home by one percent annually! You just need to know where and how to spend your time. Use the following checklist as a guide to maintaining your home and lawn throughout the year.
According to the National Association of Realtors, staging a home prior to listing it can result in a faster and more profitable sale.1 In fact, the Real Estate Staging Association estimates that professionally staged properties spend 73 percent less time on the market, receive more foot traffic, and typically sell for more money.2
Following are 10 tips you can use to get your home “show ready” prior to hitting the market.
Don’t wait until you’re ready to move to start preparing financially to buy a home, especially in this market. If you are not financially prepared with a “live loan approval”, you are behind every buyer that will be successful in the market it the next 60 days.
If you’re like the vast majority of home buyers, you will choose to finance your purchase with a mortgage loan. By preparing in advance, you can avoid the common delays and roadblocks many buyers face when applying for a mortgage. A thorough evaluation of your mortgage buying power a full 6 months, even up to a full year, before you plan to buy is the absolute best thing you can do.