Millennials, also known as Gen Y, are typically split into two age groups. Younger millennials are between 25 and 33, and older millennials are aged 34 to 43. While it’s likely that a 25-year-old will have a different budget and preferences than a 43-year-old, there are many similarities in what they want in a home.
Congrats! Your house is selling for substantially more than you paid for it! That’s a good thing… or is it? There are some scenarios when selling a home will come with hidden fees and tax liabilities.The IRS may want a chunk of the profits in the form of capital gains tax. But there are ways that homeowners can avoid taxes on home sales.
With houses still selling so fast, it’s easy to wonder if staging is even necessary. The answer is absolutely, especially because today’s buyers are ready to make a purchase quickly. If they look at two homes on the same day — and can see themselves living in one but not the other — there’s no question that they will choose the one they can visualize as their own. In fact, according to a 2023 report from the National Association of REALTORS® (NAR), some buyers will even offer up to five percent more for a staged home compared to similar homes on the market that were not staged.
Standards of luxury change with the times. Fifty years ago, a two-car garage, a double-sink vanity, or a bar in the rec-room would have seemed pretty special in some houses. Today, those features are common, and one would be hard-pressed to find a new-build without things like walk-in closets, a security system, or a master ensuite. Heated floors, outdoor living space, swimming pools, and spas have become so mainstream that they are no longer the signatures of luxury homes.
Relocating can come with a wave of emotion, beyond the general stress of getting your finances in order and taking the time to find the right home. The stresses of moving may hit in different stages based on your needs and current situation, and a lot of that stress can come specifically from buying.
There are several things that determine how much house someone can afford. Salary, savings, and credit history paint part of the picture. Add to that the buyer’s wish list for a house, the neighborhood, and the real estate market, and the answer comes further into focus.
A month into the second half of 2021 and the hot housing market is showing no signs of cooling down anytime soon. This is great news for sellers. A lot of buyers, however, are feeling exhausted and frustrated.
Like any industry, the world of real estate comes with its own rules and lingo. Since buying a house isn’t something most people do all the time, the process can seem confusing and mysterious. For first-time homebuyers, the fear of the unknown can create a lot of anxiety. But even someone who has bought numerous houses in the past might be concerned that things have changed since their last purchase—or because of the pandemic.
Two things you can always count on at this time of year: A recap of the past year, and predictions about the one that’s about to begin. Since 2020 was...let’s call it unpredictable...forecasts for 2021 are sure to generate a lot of interest.
If there’s one thing that a client asks their real estate agent to do, it’s to sell their home fast. But really, they are asking the agent to do two things at once: Sell that house fast AND sell it at a price that the client is comfortable with.
And sometimes, those two things are in tension.
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