Often pegged as the “slow season” in real estate, winter may be an optimal time for you to enter the housing market or sell your home and buy again. See what mortgage rates, home prices, homebuyer traffic and home inventory are doing to shape the winter housing market.
The desire for a master suite has been trending upwards in the housing market, topping lists alongside updated kitchens and bathrooms and open floor plans. While the benefits of a master suite, such as a private bathroom and separation from the home’s other bedrooms, may seem priceless to some homeowners, the budget of a master suite addition can become one of the priciest home renovations.
We're in the age of do-it-yourself homeownership. Through online tutorials and big box improvement stores, homeowners have the means and education to complete their own renovation projects, but are they happy with the overall project? According to a Zillow analysis, three-quarters of homeowners completed a DIY home improvement project in the last three years, but nearly 40 percent of those homeowners wish they hadn't.
As homebuyer demand continues to outpace supply, a new Zillow analysis found that there are 12% more fixer-upper homes on the market now than there were five years ago. Low existing home supply coupled with competitive homebuyers has created a seller’s market, and with high demand for houses, sellers aren’t feeling the pressure to make updates before putting their home on the market.
The shift in weather may have inspired thoughts of holiday shopping, but what about shopping for a home? Though spring and summer are considered the most popular seasons of the year to buy a home, don’t let winter weather and the holidays deter you from purchasing in the off-season. In fact, the best day of the year to buy a home is in late October, in regards to getting the best price deal. If you’re trying to decide whether or not to brave the weather or wait until spring, here are some pros and cons of winter homebuying.
Renovation TV shows like Fixer Upper and Rehab Addict can inspire homebuyers to purchase a home in need of some TLC, but they leave out a very technical part of the process: financing the renovations. Fannie Mae's HomeStyle® Renovation Mortgage is one of a few renovation loans we offer. This loan type allows purchase and refinance borrowers to include financing for home improvements into the transaction of an existing home. Here's what you need to know about this renovation loan.
At some point as a homeowner you’re going to come to an inevitable, emotional and mathematical fork in the road. Whether your starter home isn’t enough for your growing family, you’ve recently become an empty nester or you just really want an updated kitchen or floor plan, you’ll likely ask yourself whether it’s in your best interests to remodel or renovate or list and trade up.
What’s the ultimate goal for home sellers? To sell for top dollar, at top-notch speed. In Zillow’s newest report on consumer housing trends, they found several distinct characteristics of sellers who received bids above listing price.
Looking into remodeling or renovating your kitchen in the near future? According to Remodeling magazine's 2016 Cost vs. Value Report, minor kitchen remodels boast a cost recoup of 83 percent. If you're looking for some renovation inspiration, check out our list of kitchen trends for the new year.
So you just bought a house; congratulations! Making your home yours is where the real fun begins, but it's also a good idea to adjust to the costs of homeownership before making large scale home improvements and renovations. Here are some cost-effective but aesthetically-pleasing home improvements you can mostly do yourself and complete on a budget.