Blog Header - Smart Home

4 Smart Home Devices: Which Are Right for Your Home?

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When you’re not home, little doubts can plague you. Did I lock the door? Did I leave a key for the housekeeper? Is the AC still on full blast? Smart home devices can resolve those questions and ease your mind. They can also make your home more comfortable and convenient, and save you money. 

Once the exclusive domain of the super-rich and alpha geeks, smart home devices have become more common, user friendly, and affordable. You can equip your home with some basic smart devices like a smart thermostat, smart lighting, and smart door locks for $1,000 or less. You can run these devices with your smartphone or tablet. And in many cases, you can install them yourself; no electrical engineering degree required. 

Here’s what you need to know to get started in choosing the right smart home devices for your home and your budget.

What Are My Smart Home Goals?

Start by deciding what you want to accomplish, and that will lead you to a relevant device. If you want more security, consider a smart door lock. Are you looking for more comfort and convenience? Check out smart lights that come on right before you get home from work. Want to save money? A smart thermostat that uses artificial intelligence to control the temperature in your house may be the way to go. Do you crave a cool, high-tech gadget that’s downright Jetsons-esque? Go for a smart appliance like a fridge that can stream cooking videos.

Do I Need a Hub?

You don’t necessarily need a hub. In the early days of smart home tech you needed a dedicated device that tied all your smart home devices together. Back then, hubs were problematic, because not all devices were compatible with them, and their software needed to be updated regularly. Those old hubs are near relics now. These days, you can run your smart home devices through an app on your phone or tablet. Wi-Fi and the cloud have been game changers in smart home technology because they enable many devices to network together regardless of the make and the brand. 

Many homeowners use a voice assistant like Siri or Alexa as a de facto home hub by tying all their smart home devices to it. Once you do that, you can control your devices with a single unit. If you tie your smart home door lock and smart home appliances to your voice assistant, you can say, “Siri, preheat the oven to 350 degrees and unlock the door,” and consider it done. 

“Voice assistants have made so much more possible in the area of smart home devices,” says John Carey, vice president of Designer Appliances, a New Jersey retailer that specializes in smart appliances. “They can work with so many different products.”

Do I Need a Wi-Fi Connection?

You can run your devices by connecting them to a hot spot device, like a MIPS (Microprocessor without Interlocked Pipelined Stages), which lets you tap into a cell phone signal. A MIPS is basically a little computer that hooks your smart devices to the cloud via a cell phone network. You can also run smart devices through a hot spot on your phone or tablet. But you’ll get the best experience with Wi-Fi hooked up to the internet, Carey says. 

Can Smart Homes Get Hacked?

Although smart homes can be hacked, the damage a hacker can do is limited, says Christy Roth, director of offer management, home and distribution software for Schneider Electric in Nashville, Tenn. “Hackers can’t get to your bank account through your smart refrigerator,” she says. “But they could see what’s in your refrigerator or turn it off.” 

Although appliances can be at risk, homeowners are typically more concerned about risk tied to devices like smart locks and cameras. Carey says you’re better safe than sorry when it comes to security with smart home devices and appliances. “We recommend people set up a guest network that’s separate from their main network and connect all their smart devices to that. That way hackers can’t get on your network and onto your computer, where you store sensitive information.”

4 Smart Home Device Categories

Here’s a quick primer on four of the most popular smart home devices and some pros and cons for each.

  1. Smart thermostats —They’re the top-selling smart home device. Around 33 million households in the United States had one as of 2020. “They’re the most natural place to start if you want to get into smart home tech,” Roth says. Smart thermostats let you create programmable temperature settings based on your schedule, the weather, and your own needs. Many smart thermostats incorporate artificial intelligence technology to learn your schedule and adjust heating and cooling according to when you’re home. They’ll turn off the AC while you’re at work and turn it on 30 minutes before you get home from work each day. “They definitely pay for themselves with energy savings,” Carey says.

Pros

  • Smart home thermostats reduce the use of heating and cooling systems when nobody is home. If your HVAC runs less, your utility bill will be lower.
  • They alert you when it’s time to change the filter and can tell you when your last maintenance check was, saving you costly repairs.

Cons

  • They can be complex to operate. “Setting up the profiles for vacation and sleep isn’t easy, so people can end up ignoring them or overriding them,” Roth says. “And the AI can annoy some people so that they override it. That defeats the purpose of having them.” 
  • Some require professional installation. 
  1. Smart lighting This includes smart lightbulbs or smart switches. Both can be controlled remotely, via your smartphone when you’re miles away or with a voice assistant when you’re at home. You can program them to turn on or off at certain times and control their brightness.

Pros

  • Smart bulbs are simple to set up; you can screw them into a light fixture yourself.
  • They are easy to scale up; buy more to enlarge your smart lighting system.
  • They let you use whatever bulb you want because the switch is hooked to the cloud, not the bulb.

Cons

  • You can’t get smart bulbs to fit every fixture.
  • They don’t work well in fixtures tied to dimmer switches.
  • They require rewiring to install. You’ll need to call a pro.
  1. Smart appliances —Anything that runs on electricity is game for joining the Internet of Things, the ever-growing network of connected devices that talk to one another via the cloud. So, you can get smart microwaves that let you download cooking instructions for frozen food, smart ovens you can preheat before you get home, and smart refrigerators that alert you when food hits its expiration date. “Our biggest seller is smart washing machines,” Carey says. “They’ll alert you when your laundry is done, so you can get it into the drier before it sours.” 

Pros

  • They look cool. What’s not to love about a refrigerator with a touchscreen that lets you see inside the fridge without opening it?
  • They can cut your electric bill. Some smart appliances can calculate energy rates and schedule themselves to run during off-peak hours when electricity rates are lower.  

Cons

  • They’re expensive to buy and repair. 
  • If your internet goes down, your smart appliances become dumb ones.
  1. Smart door locks —They let you lock and unlock your house with the tap of a finger or a voice command. No keys required. Smart locks enable remote access, so you can unlock a door to let in a guest while you’re at work. Some locks allow you to monitor entry and exit logs in real time, so you can see if the kids got home from school or if the dog walker arrived on time. Some allow you to set up entry codes that work for only a certain period of time, so you can control who has access to your house.

Pros

  • You don’t have to dig in your purse or pockets for keys. 
  • You can see who comes and goes at your house.
  • Instead of giving out house keys to everyone who needs to get into your home, you can set a code for the cleaning person or the dog walker that only they use. 

Cons

  • They run on batteries. If the battery goes dead, you’re locked out.
  • If the power goes out or your Wi-Fi goes down, you won’t be able to operate the lock remotely.
  • Like all smart tech, smart locks can be hacked. But they have a system that will notify you or the police of an unauthorized entry.

Smart devices are a smart investment as long as they add comfort, convenience, or savings that you value. You’ll be more likely to get what works for you after exploring the most popular options and their pros and cons.

 

By: Leanne Potts

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Blog Header - Lighting

How to Enhance Your Life and Home With Lighting

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Your home’s interior lights want to help you have fun, feel better, and save energy. Will you let them?

It used to be we’d walk into a room and flip on the light switch, maybe slide the dimmer up or down a bit to change the brightness.

But that’s so old school. Instead, press a tab marked “Cooking” on a wall-mounted panel to let all kitchen task lights come up to full brightness while lights in the family room dim so the kids can play video games.

Or hit the button marked “Romance,” and the lights throughout the house go out while the lights in the bedroom ebb to a soft glow that turns a sultry blue.

Household technology is undergoing a transformation that’ll make lighting more integral to our everyday lives. Not only will we see better, but we’ll use light to alter our moods, protect our well-being, safeguard our houses, and save bunches of energy.

“Home lighting today is about lifestyle enhancements,” says Paul Nagel, technical adviser and consultant for Oquirrh Ventures in Sandy, Utah. “We want to know how to control light to create environments we’re comfortable in, and have energy efficiency while we do it.”

Related: Lighting’s Not Cheap: Here’s How to Do It Right

Lighting Our Homes With a Purpose

Today’s progressive lighting schemes aren’t about turning lights on and off; they’re about being partners in your lifestyle. The concept is simple: Imagine all your home’s light fixtures as a single system that can be programmed into a variety of zones. Each zone is dedicated to particular task or mood, and can be controlled by wall switches, a master wall panel, or a smartphone app.

So in addition to “Cooking” and “Romance” zones, you might have buttons for:

  • Outdoor entertaining – Patio and walkway lights illuminate.
  • Coming home – Triggered by a timer or a smartphone, the porch, entry hall, and kitchen lights come on.
  • Nighty-night – Lights in kids’ rooms slowly fade out as they fall asleep.
  • Vacation – Lights turn on and off in random patterns.
  • Panic mode – All lights in the house flash on and off.

If walking over to a wall panel is too much effort at the end of a long day, you can call up an app on your smartphone or tablet and control zones while curled up on the couch. If your app is voice-activated, you won’t even have to swipe a finger.

Easing the Fear of Lighting Technology

Do your eyes glaze over at the thought of yet another layer of high tech added to your everyday life? Fear not: In the hands of a pro, zone lighting systems are relatively easy to install. Home automation companies and lighting contractors can retrofit your house with a single-zone system in half a day or, with more time, install a whole-house system.

You’ll get an easy-to-understand central control unit that “talks” with new switches, light fixtures, and bulbs that are specially made to receive wireless signals. You decide on your zones and, once everything’s set up, have the light throughout your house change intensity and color on command.

DIYers Can Zone Out, Too

Relatively low-cost mini-systems are coming to market that’ll let you install your own zones, even if your geekability quotient is near zero.

Philips Hue smart light starter kits feature smart LED bulbs, the Hue Bridge, and a variety of smart accessories to help you easily set up a smart lighting system. Screw in your light bulbs, plug the Hue Bridge into your Wi-Fi router, and download the Hue app. Add your lights to your system and you’re ready to go. The system works with either Bluetooth or the Bridge.

No Dim Bulbs Here

Other DIY smart bulbs are on the market. They’re made to replace any screw-in type of lightbulb. All you need is a free app you download to your phone so you can dim lights, change colors, and turn individual lights on and off.

(FYI: Smart bulbs also work via conventional on/off wall switches; you’re not locked into controlling them with an app.)

ilumi bulbs come in different strengths including the A19 Color Bulb800+ Lumens (60-watt incandescent equivalent) for lamps and sconces, and the indoor BR30 Color 1100+ Lumens (85-watt incandescent equivalent) for down lighting. You can download the ilumi app, connect the bulbs with your iOS or Android device via Bluetooth, and enjoy smart lighting throughout your home with no hub or bridge. You’ll need to have your smartphone within range of ilumi bulbs (meaning within 100 feet) so that your phone’s Bluetooth network, with its short-range capability, can talk to them.

LIFX has created smart lights that do more than illuminate, according to its owner, Buddy Technologies. LIFX Clean can be scheduled to emit high energy visible wavelengths that can eliminate bacteria in your home. And LIFX Nightvision can be set to emit infrared wavelengths that boost your security camera’s ability to see in the dark.

Using Light to Alter Moods and Stay Healthy

If you’re feeling blue, it may be the light. Light can affect our moods and, ultimately, our health. Just ask anyone with seasonal affective disorder, a type of depression characterized by low energy and poor concentration. MedlinePlus estimates that 10 million Americans have SAD. The therapy is exposure to more daylight or to artificial lights that mimic the properties of natural light.

The health- and mood-altering properties of light haven’t been lost on lighting manufacturers, who’ve come up with a variety of new home lighting products that claim to have health benefits. Although clinical proof can be hard to come by, the products are intriguing.

Dynamic lights vary between warm white (2600K) and cool light (5600K) so that the natural rhythms of daylight are reproduced indoors. That helps keep you happy during the depths of winter. Several manufacturers make dynamic lightbulbs, also called full-spectrum bulbs.

The Withings Sleep Tracking Mat can be installed with a one-time setup under the mattress, and the pad is compatible with most mattresses. The mat tracks sleep metrics including duration and onset; deep, light, and REM phases; continuous and average heart-rate; and snoring duration. On top of that, you can control lights and temperature by getting into and out of bed.

LEDs — The Energy-Sipping Superstar of Home Lighting

LED lights (which stands for light-emitting diode) point the way for the future of home lighting. Why? LEDs:

  • Use only 3% of the energy of an incandescent bulb
  • Last from 50,000 to 100,000 hours
  • Have no restrictions on number of times they’re turned on and off
  • Save energy and replacement costs, though more expensive initially

LEDs can be made small — really small. In fact, some lights are no bigger than the point of a pencil. That’s going to change how we illuminate our homes. For example, hundreds of tiny LEDs can be embedded in sheets of drywall to create walls and ceilings that glow.

Mixing Light and Home Automation

Lighting solutions can be standalone projects, but they’re often paired with other home automation features to create a holistic home environment that’s controlled by a single wall panel and app. For example, press that “Relax” button on your scheme choices, and as the lights dim, you’re surrounded by the soothing sounds of jazz.

Lights are essential components of home security systems, too, teaming up with video cameras, alarms, and motion sensors to keep your house safe, whether or not you’re there.

Another advantage of automated energy management systems is that they combine smart thermostats, Energy Star appliances, and lighting schemes to trim energy costs across the board, and that’s a future we can all live with.

 

By: John Riha

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Blog Header - Home Tech

How Smart Home Technology Can Be a Selling Point

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You often judge a house by it’s good looks. But guess what? Now you can also judge it by its IQ. Long-buzzed about smart home technology — think smart thermostats, smart lighting, and app-controlled security systems — are moving into more homes. Smart home tech can up your coolness factor and make homes easier to operate. Plus, it may also offer perks when you sell your home one day.

Home shoppers are increasingly looking beyond that killer kitchen upgrade to a seller’s Wi-Fi signal and connectivity. This isn’t just a priority for the techie set. As smart home technology gets more affordable and easier to use, more people are adding devices. Half of U.S. consumers owned at least one smart home device in 2021, up from 35% in 2020, according to NPD Connected Intelligence. The number is expected to grow as homeowners look to save money, feel safer at home, and add convenience.

A Home’s Technology Smarts Matter

Here comes a potential home buyer. Motion-activated lighting automatically turns on as they enter. A smart thermostat adjusts the temperature for ultimate comfort. The smart robot vacuum is keeping the home tidy. The window blinds are adjusting based on the sun’s direction. And the smart speaker is telling them about the home’s features.

Seriously, wouldn’t you be a little impressed?

Four in 10 Americans have bought a smart home device since the COVID-19 outbreak and are more interested in smart home technology, according to a 2020 REALTOR.com study. “The pandemic has driven smart home technology forward,” says Angel Piontek, an associate broker with Coldwell Banker Elite in Fredericksburg, Va. “How we interact with our homes is becoming different. At some point, buyers will expect it.” 

The majority of real estate professionals surveyed by Z-Wave Alliance believe smart home technology can help in marketing a home, according to the organization’s 2020 report on smart technology. In fact, some real estate professionals are already using smart home features as selling points. You may spot more icons on online 3D tours of real estate listings that flag smart technology inside a home. Or, during in-person real estate showings, laminated placards may point to devices and highlight what they do. 

Smart Home Technology Costs and Buyer Preferences

Consumers between 18 and 34 said they would pay more for homes with home theaters, smart speakers in every room, and connected kitchens, according to the REALTOR.com study. In the 25 to 54 age group, consumers said they’d pay more for solar roof tiles and home battery packs. And for those 55 and older, solar roof tiles, smart doorbells, and security systems would be worth extra money.

It’s tougher to validate that smart technology can generate more money in a home sale. Anecdotally, real estate professionals believe it can: “If a home is marketed correctly and has smart home technology, it can sell for top dollar,” says Kristin Triolo, a broker associate with RE/MAX Platinum Realty in Sarasota, Fla.

Fully automating an entire home with higher-end systems could cost upward of $15,000. But an appraiser would factor in such a system at resale, according to Christopher Matos Rogers, an associate broker with the Matos Rogers Group’s Palmerhouse Properties in Atlanta.  

Boosting Marketability with Smart Technology

If you don’t already have smart home technology, some real estate professionals may recommend adding it before you list your home. Tech-savvy generations may expect it. And older adults may be drawn to such systems — particularly voice-controlled ones that support aging in place.

You can easily add smart home technology to modernize an older home and help it compete with newer ones. After all, many homebuilders offer smart home packages to outfit new homes with smart thermostats, app-controlled garage doors, smart lighting, door locks, and video security systems.

Smart home technology investments can range from $20 for adding smart lightbulbs to $20,000 or more for automated solutions that connect systems in one hub for an entire house. For $1,500, you can outfit your home with multiple systems like a smart speaker, smart lighting, and a smart thermostat to increase the home’s smart tech appeal. For about $5,500, homeowners could automate the lights, door locks, and thermostat, and install a smart speaker, hub, and smart plugs in three rooms, according to FixR.com.

Regardless of how extensive your devices are, real estate professionals will typically want to spotlight them. “Buyers may not have a lot of knowledge of smart home technology, but they do know and understand energy savings and cost savings,” Triolo says. For example, a Nest consumer survey estimates that the company’s smart thermostat could reduce a home’s heating costs by 10% and cooling costs by 15%. 

What Else Adds Smart Tech Appeal

Bigger brand names in smart home technology — like Nest, Ring, and Lutron — have instant name recognition when selling, says Piotnek.

Ease of use also counts. For example, having to open several apps on a phone to control various aspects of a home can feel cumbersome, says Ellis Gardner, a broker with Keller Williams Realty in Chattanooga, Tenn. But being able to say, “Hey, Google, turn on my lights!” shows convenience.

With smart devices, you’ll need to be clear about what stays and what goes with the home sale. “It’s a gray area with some of these devices on what’s considered personal property,” Piontek says. For example, digital assistants like Alexa or Google Home may be used as your smart home hub. But sellers may consider these personal property to take when they move. “So, it’s really important to get this all in writing so there’s no question at the end of a transaction.”

3 Ways to Avoid Misunderstandings About Smart Home Tech

Avoid misunderstandings about smart home technology with these three tips:

  1. Find an agent with smart technology expertise. They can help avoid hiccups in selling a smart home and also tend to be savvy marketers of smart tech. Some real estate professionals — like Triolo and Gardner – have smart home certification and extra training through the Residential Real Estate Council, a provider of real estate education and networking. 
  2. Identify which of your smart home technology devices or apps are real property versus personal property. In general, items affixed or hardwired to a house stay — likely your smart thermostat or any switches and mounts. If you plan to take your Nest thermostat or Ring doorbell, replace it before listing. The buyer could figure that anything in the house at a showing will remain with the house. 
  3. Turn over the virtual keys. On closing day, “turning over the passwords in a smart home is like turning over the key to the front door,” says Gardner. For all transferable technology, reset it to factory settings to erase any personal data. Leave instruction manuals or website links for the new owners to open up new accounts. 

Smart home technology is improving safety, security, and convenience in homes. Homeowners should also consider the benefits they’ll have when they sell one day, Piontek says. Just like curb appeal, high home appeal may make your home a standout to buyers.

 

By: Melissa Dittmann Tracey

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Blog Header - Countertops

What You Need to Know About Quartz Countertops

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The kitchen tends to be the home’s gathering place, so it’s only natural you want it to look and feel welcoming. But as the hub of your home, your kitchen needs durable countertops, especially if you have little ones helping with the cooking. Quartz countertops are a trendy choice for kitchens, but before you get in touch with your contractor, it’s important to assess the pros and cons and review some alternatives. 

What Are the Pros and Cons of Quartz Countertops?

Pros of Quartz Kitchen Countertops

  • Durable: Quartz countertops are highly durable, made from a mix of stones and stone-like materials bound together with resins. Makers of quartz countertops press the materials and resin into slabs that are solid and nonporous. That means the counters won’t chip or crack with everyday use (like when your little ones are helping you cook). 
  • Stain-resistant: Quartz is highly stain-resistant, thanks to its nonporous surface. But it can be stained by certain substances — like red wine, coffee, tea, tomato sauce, and juice — if the spill isn’t cleaned up immediately. The staining happens when the liquid interacts with the resin. You’ll also want to use gentle cleaners instead of harsh chemicals. Another positive: Quartz is relatively low maintenance and doesn’t require sealing. 
  • Highly customizable: Thanks to advances in engineered quartz, you can choose from a variety of patterns that can be custom-made or mirror the look of granite or marble. 

Cons of Quartz Countertops

  • Pricey: The price of quartz is high compared to the price of materials like marble and limestone. On average, quartz kitchen countertops cost $40 to $100 per square foot installed. 
  • Prone to heat damage:While quartz is heat-resistant, the binders used in about 10% of a quartz countertop slab are not. So, leaving hot cookware directly on a quartz counter could cause unsightly stains.  
  • Requires professional installation:Installing quartz countertops is probably not a DIY task. The material is incredibly heavy and needs professional attention to ensure the kitchen can support the counters.   

What Should You Look for in a Quartz Countertop?

Look for these quality markers when buying a quartz countertop:  

  • Cohesive coloring: Compare separate slabs from the quartz you plan to buy. Are they the same color? 
  • Coloring through the surface: Make sure the veins and colorations you see on the surface of the quartz continue throughout the slab. 
  • Consistent aggregates:Aggregates are the pebbles  you find along the edges of your countertops. No matter the size of these pebbles, they should be consistent throughout the countertop. 

Alternatives to Quartz Countertops

Your kitchen countertops should fit your lifestyle and the look of your space. So, before you choose them, explore several options to see what works best. Some alternatives to quartz kitchen countertops include:  

Marble

Marble is often comparable in price to quartz, but it has a unique and elegant look that may make the price worth it for some. While neither quartz nor marble requires resealing, marble has a porous surface, so it may be susceptible to stains, especially from acidic liquids, like tomato sauce or lemon juice. Quartz isn’t porous like marble but can still stain too. 

Slate

Slate is just as durable as quartz, but its designs and aggregates are more uniform. Slate costs more than quartz on average and requires a decent amount of maintenance, including regular sealing.  

Granite

Granite countertops are naturally made versus the man-made designs of quartz. While prices may be similar, granite requires more maintenance because of the need for regular resealing.  

How Much Do Quartz Counters Cost?

Several factors affect the cost of quartz countertops, including the brand, design, thickness, size of the project, and installation cost. On average, quartz countertops cost $40 to $100 per square foot installed. So, in an average kitchen with 30 square feet of countertop space, you’ll need to budget between $1,750 and $3,000 for quartz counters, with $2,300 being an average price. 

Compare that to other popular countertop options like granite, which costs between $2,500 and $5,000 for 30 square feet installed, or marble which may run you between $2,000 and $7,000. 

What Should You Ask Your Contractor About Installing Quartz Countertops?

Before you hire a pro to install new counters, be sure to ask a few questions, including:  

  • Is your team experienced with installing quartz countertops?  
  • Will replacing my kitchen countertops require a permit?  
  • How much do you charge for countertop installation, including removing my old countertops?  
  • Will you move my appliances and fixtures during installation, or am I responsible for that?  
  • Do you have insurance that covers any damage to my home or countertops during installation?  
  • Do you offer a warranty if something happens to the counters after installation? 

The answers to these questions and the information above can guide you as you decide whether quartz countertops are the best option for your kitchen.

By: HouseLogic

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Blog Header - Retirement

Should You Buy a Retirement Home Sooner Rather than Later?

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Every day in the U.S., roughly 10,000 people turn 65. Prior to the health crisis that swept the nation in 2020, most people had to wait until they retired to make a move to the beach, the golf course, or the senior living community they were looking to settle into for their later years in life. This year, however, the game changed.

Many of today’s workers who are nearing the end of their professional careers, but maybe aren’t quite ready to retire, have a new choice to make: should I move before I retire? If the sand and sun are calling your name and you have the opportunity to work remotely for the foreseeable future, now may be a great time to purchase that beach bungalow you’ve always dreamed of or the single-story home in the sprawling countryside that might be a little further out of town. Whether it’s a second home or a future retirement home, spending the next few years in a place that truly makes you smile every day might be the best way to round out a long and meaningful career.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“The pandemic was unexpected, working from home was unexpected, but nonetheless many companies realized that workers can be just as productive working from home…We may begin to see a boost in people buying retirement homes before their retirement.”

According to the 20th Annual Transamerica Retirement Survey, 3 out of 4 retirees (75%) own their homes, and only 23% have mortgage debt (including any equity loans or lines of credit). Since entering retirement, almost 4 in 10 retirees (38%) have moved into a new home. They’re making a profit by selling their current homes in today’s low inventory market and using their equity to purchase their future retirement homes. It’s a win-win.

Why These Homeowners Are Making Moves Now

The health crisis this year made us all more aware of the importance of our family and friends, and many of us have not seen our extended families since the pandemic started. It’s no surprise, therefore, to see in the same report that 32% of those surveyed cited the top reason they’re making a move is that they want to be closer to family and friends (See graph below):

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The survey also revealed that 73% percent of retirees currently live in single-family homes. With the overall number of homes for sale today hitting a historic low, and with the buyer demand for single-family homes skyrocketing, there’s never been a more ideal time to sell a single-family home and make a move toward retirement. Today’s market has the perfect combination of driving forces to make selling optimal, especially while buyers are looking to take advantage of low interest rates.

If you’re one of the 73% of retirees with a single-family home and want to move closer to your family, now is the time to put your house on the market. With the pace homes are selling today, you could essentially wrap up your move – start to finish – before the holidays.

Bottom Line 

Whether you’re looking to fully retire or to buy a second home with the intent to use it as your retirement home in the future, the 2020 fall housing market may very well work in your favor. Let’s connect today to discuss your options in our local market.

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The Perks of Owning More Than One Home

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Many things have changed over the past couple of years, and real estate is no exception. One impact is an increased desire to own more than one home. According to the recent Luxury Market Report from Luxury Home Marketing:

“As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of relocating as well as the growth of second homeownership.”

This may be because the pandemic has altered how we think about our homes. Where we live has become, more than ever, our safe space and our getaway. And with the rise in remote work, more people are reconsidering where they want to live and buying second homes to give them greater flexibility. If you fall in that category, here are just a few of the perks you’ll enjoy, and how owning a second home may be a great decision for your lifestyle and your future.

Enjoy a Change in Scenery (or Weather)

When you have two homes, you can alternate between them as the weather changes or as you crave different scenery. Do you want to live in an area with a particular season? Would alternating between a resort and a suburban setting be ideal? With two homes, you have those options. Being able to move between homes based on which location best suits you at the time gives you added flexibility and variety that can help increase your happiness.

Build Your Wealth Faster

You may have heard that home equity is skyrocketing, thanks to ongoing home price appreciation. CoreLogic reports that the average homeowner gained $56,700 in equity over the last year. With home prices projected to continue rising, if you purchase a second home, you could benefit from rising equity on both properties to build your wealth (and your net worth) even faster.

Be Closer to Loved Ones

The pandemic has also reignited the importance of being near our loved ones. One option worth exploring is whether you want your second home to be near the people who matter most in your life. This makes it easier to see your loved ones but still gives you your own dedicated, private space so you can be nearby for major life events or longer visits.

Lock in Your Expenses

Buying a second home today and locking in your mortgage rate may be a good option if you’re looking to stabilize your housing costs for the long haul. If you’re approaching retirement or are looking to use your second home as your permanent residence in the future, buying that house now with today’s rate and price may be a good financial decision. That way, no matter what happens with rates and prices in years ahead, your monthly payment is locked in for the next 15-30 years.

Bottom Line

Having multiple homes has considerable benefits. If owning a second home is something you’re interested in, let’s connect to explore your options, discuss the benefits, and take the next step to start your home search.

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10 Ways to Make Your Bathroom Feel Like a Spa: Design a “Spathroom”

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Ahhh, the spa. It’s been too long since most of us could go to a real spa (thanks, COVID). We miss the luxury of a hot tub soak and the power of sauna and steam rooms to align our body and spirit. So, we’re doing the next best thing. We’re remodeling our bathrooms with spa-inspired features to get that relaxing vibe at home. Enter the spa bathroom. The trend has even inspired a new word blend: spathroom. 

COVID and more time at home caused homeowners to search out creative ways to enjoy their homes more. “We’re looking for ways to relax at home versus going out. So, bringing that luxury home in the form of a spa bathroom is a logical next,” says Dr. Anna Ruth Gatlin, an assistant professor of interior design at Auburn University.

But a spa bathroom can carry a hefty price tag. A bathroom remodel costs an average $35,000, according to the National Association of REALTORS® “Remodeling Impact Survey.” A budget-friendly remodel can be done for as little as $2,500, depending on the scope of the project and where you live, according to “Forbes Advisor.”

Spa Bathroom Ideas

Improvements that can add value to your home include upgrading your shower, adding storage through shelving, and refreshing your color scheme, according to Property Price Advice. A bathroom that still needs upgrades will make the whole home much less appealing to buyers, says realtor.com®. The website recommends enhancing marketability through simple upgrades like installing new bathroom hardware and adding shelving.

If you make smart choices, you can also get soul-soothing relaxation from spa features like a new steam shower. And that can’t be measured in dollars and cents.

#1 Install a Spa Showerhead.

Replace your plain showerhead with a more luxurious model to turn your daily shower into a restorative experience. We’re not talking about changing out the whole fixture just the head, so you can do it yourself. You can get a rain showerhead that sprays water directly from above, or heads with adjustable massaging spray patterns.

Japanese meets Scandinavian in ‘Japandi,’ a trend that makes a bathroom look like it stepped out of Ten Thousand Waves Spa in Santa Fe.

#2 Upgrade Vanities.

Updating your vanity can make a big change in a bathroom without costing a lot of money. You can transform a dated vanity with new paint, new hardware, and a new countertop. So you don’t have to rip out and replacing the entire unit. To get a spa look, consider painting a wooden vanity matte black, adding shiny brass pulls, and replacing the vanity’s countertop with a slab of white marble.

#3 Add Some Japandi.

Japanese meets Scandinavian in “Japandi,” a bathroom trend that combines Zen with hygge for a bathroom that looks like it stepped out of Ten Thousand Waves Spa in Santa Fe. Japandi uses a neutral color palette accented with brass or black fixtures and a lot of wood to push a connection to nature. You don’t have to remodel your entire bathroom in Japandi style. Instead, paint the walls a cool white tone and replace your vanity mirrors with simple round ones. Swap out faucets, cabinet pulls, and towel racks with new black metal ones, and add open wooden shelves. Bathroom paint is an affordable alternative to tile, a fast way to change the look of the room. 

#4 Go for Gold.

Gold and brass have made a comeback, replacing silver and nickel trim as the finish of choice in bathrooms. Now is a good time to upgrade your faucets, towel racks, showerhead, shower trim, and mirror frames with a yellow-tinged metal. “After nearly two decades of loving the cold industrial feel of steel, we’re craving warmer-toned metals in bathrooms,” Gatlin says. It’s a cold world out there. We could all use the warm glow of a gold showerhead or towel rack to warm our souls and lift our spirits.

#5 Install a Towel Warmer.

Nothing says “Ahhh, I feel like I’m at a spa” like stepping out of the shower and wrapping yourself in a warm towel. You can get that feeling at home by installing a towel warming rack in your bathroom. They range in style from plug-in models that need no electrical work, to upscale models that an electrician will need to wire into the bathroom. Those higher-end models will add lasting value to your home and do a better job of warming those towels and making you feel pampered.

#6 Opt for Natural Wood.

Pull up the tile, linoleum, or (shudder) carpet on your bathroom flooring. Then put down wood floors in a water-resistant material like teak, cedar, or hinoki cypress. This brings nature and warmth into your bathroom. Don’t want wood in a wet place like a bathroom? Think about porcelain tile that’s made to look like wood. You’ll get the warmth of wood grain with the durability of tile. 

#7 Put in Open Shelving.

A few rows of open shelving made of wood can make your bathroom more spa-like by adding a wood finish. They also provide a place to stash your shampoo bottles, towels, and other grooming supplies that can clutter a bathroom. Open wood shelves will make your bathroom more functional, fast. And more storage almost always adds to a home’s value.

#8 Add a Bidet Attachment to Your Toilet.

Once exclusively a European or Asian thing, Americans discovered bidets during the COVID pandemic when fears of a toilet paper shortage spurred bidet sales. Bidets fit in with the spa bathroom aesthetic because spas are about cleanliness and purity. You can go for a full, standalone bidet. Or you can get the same effect by buying a bidet attachment that fits onto your existing toilet. The best choice for adding value to your house is a bidet toilet seat that fits permanently onto your existing toilet and features a dryer function. 

#9 Go Big With a Spa Shower.

This is a big-ticket item. Spa bathroom showers are usually double the size of a normal shower and tiled from head to toe — no shower curtain, just glass doors or walls. The idea is to create a rainforest waterfall feel. They usually have a wellness showerhead the size of a dinner plate that offers a range of spray patterns along with chromotherapy. 

#10 Build a Wet Room.

We’re in total room remodel territory now. Wet rooms turn the entire bathroom into a waterproof space. This dispenses with a walk-in shower and creates a bathroom with a shower that’s open to the bathroom and separated only by a half-wall of glass or tile. There’s a freestanding soaking tub in a wet room, too. A wet room looks like the bathroom at an actual spa, with bathroom tile on walls, floors, and sometimes even ceilings. It’s a super high-end bathroom that will add luxury with a capital L to your home.

 

By: HouseLogic

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Real Estate Voted the Best Investment Eight Years in a Row

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In an annual Gallup poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best long-term investment (see graph below):

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If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines.

Why Is Real Estate a Great Investment During Times of High Inflation?

With inflation reaching its highest level in 40 years, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices are increasing across the board. That includes goods, services, housing costs, and more. But when you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increasing housing payments. James Royal, Senior Wealth Management Reporter at Bankrate, explains it like this:

A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”

If you’re a renter, you don’t have that same benefit, and you aren’t protected from increases in your housing costs, especially rising rents.

History Shows During Inflationary Periods, Home Prices Rise as Well

As a homeowner, your house is an asset that typically increases in value over time, even during inflation. That‘s because, as prices rise, the value of your home does, too. And that makes buying a home a great hedge during periods of high inflation. Natalie Campisi, Advisor Staff for Forbes, notes:

Tangible assets like real estate get more valuable over time, which makes buying a home a good way to spend your money during inflationary times.

Bottom Line

Housing truly is a strong investment, especially when inflation is high. When you lock in a mortgage payment, you’re shielded from housing cost increases, and you own an asset that typically gains value with time. If you want to better understand how buying a home could be a great investment for you, let’s connect today.

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The History of US 30-Year Fixed Mortgage Rates

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Coming into this year, most experts projected mortgage rates would gradually increase and end 2022 in the high three-percent range. It’s only May, and rates have already blown past those numbers. As all eyes are on the 30-year fixed mortgage rate, it’s a great time to look back at historical fluctuations

  • Rates in 1971 were in the mid-7% range, moving up steadily until they were at 9.19% in 1974. They briefly dipped down into the mid- to high-8% range before climbing to 11.20% in 1979.
  • Interest rates reached their highest point in modern history in 1981 when the annual average was 16.63%. Fixed rates declined from there, but they finished the decade around 10%.
  • The average mortgage rate in 1990 was 10.13%, but it slowly fell, finally dipping below 7% to come in at 6.94% in 1998.
  • Mortgage rates steadily declined from 8.05% in 2000 to the high-5% range in 2003. As the GREAT RECESSION hit, mortgage rates fell almost a full percentage point, averaging 5.04% in 2009.
  • Mortgage rates entered the 2010’s around 4.69%, falling steadily and were in the mid-3% range by 2012. In 2013, rates went up to 3.98% when the bond market panicked a little bit when the Federal Reserve said it would stop buying as many bonds. Rates rose to 4.17% in 2014 falling back to 3.85% in 2015.
  • By 2016 they averaged 3.65%. Rates began to rise after the 2016 presidential election, reaching their peak at the end of 2018/start of 2019…. between 3.95% on the low end and 5.34% on the high end.
  • By January 2020 came around, the average rate for a 30-year fixed was about 3.7%. When COVID hit they dipped into the 2’s, hitting a low in December 2020 at 2.68%!

Whether you’re thinking about buying your first home, moving up to your dream home, or downsizing because your needs have changed, purchasing before mortgage rates rise even higher will help you take advantage of today’s homebuying affordability. That could be just the game-changer you need to achieve your homeownership goals.

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This Spring Presents Sellers with a Golden Opportunity

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If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one.

If that’s the case, you should know – you may be able to get the best of both worlds today. Here are four reasons why this spring may be your golden window of opportunity.

  1. The Number of Homes on the Market Is Still Low

Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes available. That means purchasers are eagerly waiting for your house.

Listing your house now makes it the center of attention. And if you work with a real estate professional to price your house correctly, you can expect it to sell quickly and likely get multiple strong offers this season.

  1. Your Equity Is Growing in Record Amounts

According to the most recent Homeowner Equity Insight report from CoreLogic, homeowners are sitting on record amounts of equity thanks to recent home price appreciation. The report finds that the average homeowner has gained $55,300 in equity over the past year.

That much equity can open doors for you to make a move. If you’ve been holding off on selling because you’re worried about how rising prices will impact your next home search, rest assured your equity can help fuel your move. It may be just what you need to cover a large portion – if not all – of the down payment on your next home.

  1. Mortgage Rates Are Increasing

While it’s true mortgage rates have already been climbing this year, current mortgage rates are still below what they’ve been in recent decades. In the 2000s, the average mortgage rate was 6.27%. In the 1990s, the average rate was 8.12%.

For context, the current average 30-year fixed mortgage rate, according to Freddie Mac, is 3.85%. And while recent global uncertainty caused rates to dip slightly in the near-term, experts project rates will rise in the months ahead. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, says:

“For homebuyers, we believe that borrowing costs will likely rise with the increase in mortgage rates….”

When that happens, it’ll cost you more to purchase your next home. That’s why it’s important to act now if you’re ready to sell. Work with a trusted advisor to kickstart the process so you can take key steps to making your next purchase before rates climb further.

  1. Home Prices Are Climbing Too

Home prices have been skyrocketing in recent years because of the imbalance of supply and demand. And as long as that imbalance continues, so will the rise in home values.

What does that mean for you? If you’re selling so you can move into the home of your dreams or downsize into something that better suits your current needs, you have an opportunity to get ahead of the curve by leveraging your growing equity and purchasing your next home before prices climb higher.

And, once you make your purchase, you can find peace of mind in knowing ongoing home price appreciation is growing the value of your new investment.

Bottom Line

If you want to win when you sell and when you buy, this spring could be your golden opportunity. Let’s connect so you have the insights you need to take advantage of today’s incredible sellers’ market.

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