FinancingHome buyingInvestmentReal Estate February 12, 2024

Your Quick Guide to Home Appraisals

In the middle of buying a home? If so, you’ve probably already realized that there are many steps you’ll need to complete before you will officially take ownership. From scheduling inspections to going through the closing process, there are many items that need to be checked off your list. And one thing you won’t want to overlook in buying a home is completing a real estate appraisal.

Why You Need a Home Appraisal

The purpose of a real estate appraisal is to determine the current value of a property before a sale is finalized. Appraisals are important for several reasons. For starters, having an appraisal done ensures that the property you are looking to buy is worth at least what you have offered to pay. This is especially important if you’ll be taking out a loan to pay for your home, as your lender will not want to let you borrow more than the property is realistically worth.

There’s a good chance that your home insurance company will require an appraisal to determine the amount of coverage you will need for your property.

What to Expect from the Appraisal Process

Typically, you are responsible for the cost of the appraisal as the homebuyer. Costs can vary greatly depending on where you live and other factors. However, you can generally expect a home appraisal to cost somewhere between $450 and $700. This cost is often built into your mortgage, so you may not have to actually pay anything out of your own pocket up-front.

Once your appraisal is scheduled, there isn’t much you need to do. You do not need to be present for the appraisal itself; you will receive a report that tells you the estimated value of the home after the appraiser visits the property.

Potential Outcomes of an Appraisal

Ideally, the appraised value of the home will be at least what you have offered to pay for the property. And most of the time, this is the case. However, if the appraisal comes back low, you may need to head back to the negotiating table to see if the seller will drop the price of the home. Otherwise, you will need to produce the difference between what your lender will let you borrow and the agreed-upon sale price.

DYIHomeInvestmentReal Estate February 5, 2024

Looking for a Sweat Equity Investment?

If you’re thinking about buying a fixer-upper or are interested in flipping homes, it’s important to understand sweat equity. This concept has to do with the time and effort you put into improving a property. Because it’s not based on dollar amounts, it’s difficult to calculate. However, there are major pros and cons to investing your time as sweat equity in a home.

Pros of Sweat Equity Investment

Lower Upfront Cost – A home that needs repairs and improvements will cost less than a turnkey home. Therefore, you need less capital to get started on the investment. After the initial purchase, every improvement you make will add value.

Personal Satisfaction – For those who love to DIY, there are few better projects than improving a fixer-upper. All the labor you put into renovations and repairs will add value not only in the monetary sense but also in quality of life. If you live in the home while improving it, you’ll be able to enjoy the new upgrades before anybody else.

Cons of Sweat Equity Investment

Living With Renovation – Living in a construction zone is stressful and messy. If you choose to live in the home you’re improving, your sweat equity might not be worth the chaos. If you choose interim housing, this also means paying rent somewhere else—an expense that would not factor in to your total sweat equity. Major renovations take a long time, so make sure you consider how much of that time you’ll be living in the middle of it.

Trends and Demands Change – If you don’t work fast enough, you might miss certain trends at their peak. All the labor and time you put into installing that surround-sound speaker system or basement bar might not turn a profit if these trends are no longer at the height of their popularity. From countertop materials to paint colors to layouts, trends are always changing, and you may end up investing too much in something with limited returns.

Sweat equity is difficult to quantify but makes an enormous difference in your home’s value and price. Consider these benefits and drawbacks to determine whether your sweat is worth the equity.

GardeningHomeHome Staging January 29, 2024

Indoor Trees and Tall Plants to Introduce to Your Home

If you want to highlight high ceilings or just want to add some extra drama to a room, tall plants are an excellent option. Tall plants can make a bold design statement and provide other benefits like air purification and stress relief. Here are some of the best indoor trees and tall plants to consider adding to your home:

Fiddle leaf fig

Fiddle leaf figs are native to the jungle and therefore will thrive in your home if you give them enough humidity and filtered light. While these trees are somewhat notorious for being tricky plants to care for, they are low-maintenance once you find the right spot for them. Keep temperatures as consistent as possible and expect your tree to grow up to ten feet tall indoors.

Rubber tree

Rubber trees are related to fiddle leaf figs but easier to care for. Their thick, glossy leaves make a beautiful statement in any room and can live in a variety of light conditions. Like other tropical trees, rubber trees like humidity and moderate temperatures. To keep the plant healthy and help it reach the ceiling, regularly clean the leaves with a damp cloth to remove dust.

Banana tree

A banana tree is the perfect choice of tall plant for those who want to create an exotic indoor jungle out of any room. These plants can grow quickly when given enough sunlight and regular fertilizer, reaching six to ten feet tall indoors. The giant fan-shaped leaves of the banana tree add a beautiful splash of green to any indoor space.

Parlor palm

The parlor palm has been a popular houseplant for centuries because of its ease of care and lush appearance. While slow-growing, parlor palms can reach up to six feet tall indoors. Keep your palm somewhere with bright, indirect light and allow the top inch of soil to dry between watering periods to keep a steady moisture level.

HomeKitchen January 10, 2024

Winter Cooking

As soon as the weather cools down in the fall, I usually start the seasonal occupation of cooking hearty and warming foods. But this season, despite having a newly renovated kitchen to work in, I’ve felt uninspired. Perhaps it was just being busy with work, then the holidays, or maybe just that it hasn’t felt very winter-like. That changed this week. With a fresh layer of snow, my thoughts returned to the kitchen.

There’s barely anything as warming as soup on a cold, snowy day. I wanted something hearty but filled with veggies. So, I turned to the family cookbook and found exactly what I was looking for: Babushka Maria’s Ukrainian Borscht. It takes some prep time, but it makes enough for a couple nights’ meals. This soup is beautiful and as warming as wrapping yourself in a blanket by the fire.

To me, the kitchen is the heart of a home, so I figured I’d share the recipe. I’d love to hear what you’re cooking this season!

 

Ukrainian Borscht

Soak in separate bowls of water:

½ large head cabbage, shredded

2 pounds waxy potatoes, diced

2 to 3 cups beets cut into large matchsticks

 

2 Tablespoons oil or pork fat

2 cups shredded carrots

2 large onions diced small

1 small red bell pepper, cut into strips

2 cans cannellini (white kidney) beans

1 can tomato paste

2 or 3 pounds bone-in beef shank, center cut, trimmed of most fat

generous amount of fresh dill

 

Fill large soup pot ⅔ with water; boil meat whole until tender, about 30 minutes, skimming fat as necessary.

In a separate sauté pan, heat oil or pork fat and heat onions about 10 minutes until translucent and soft, then add carrots and sauté another 10 minutes until soft. Add tomato paste and some beef liquid to make tomato roux.

Add bay leaf to beef water in this order and then add beets and red pepper. After 7 to 9 minutes, add potatoes. Seven to 10 minutes later, add onions and carrots. For the last 10 minutes, add cabbage and beans. Add salt to taste, and add dill at the very end.

Turn off and let juices settle, about 30 minutes.

Serve in warm bowls with a dollop of sour cream.

Uncategorized December 26, 2023

Holiday Traditions

As 2023 comes to a close, I am grateful for sharing more “normal” time with family and friends. These last few weeks have been so much about the gatherings and celebrations the holidays entail, and for me, it is truly the most wonderful time of the year.

Thanksgiving was a small family dinner, but we resumed our tradition of making entirely too many pies, and so invited friends for our Friday Pie Day to share the variety—it was quite a spread this year.

I know I’ve shared in the past my family’s tradition of hosting an annual Swedish smorgasbord around Christmas time. We spend days beforehand making foods—breads, several types of meatballs, a baked ham, pickled cucumber and beets, and cookies among them—and lay out a spread with the addition of cheese, fish, salami, and much more. This year’s was a roaring success with late arrivals missing out on some of the more popular dishes. We’ll have to make more next year!

In the Swedish tradition, we celebrated on Christmas Eve with a family smorgasbord followed by opening gifts. Christmas morning is a breakfast of Swedish rice porridge. There is supposed to be one almond in the pot, and whoever gets it is predicted to get married in the next year. We’re not quite sure where the tradition came from, but in order to get a scoop of porridge, one has to come up with an original rhyme. The morning customarily devolves into me going hungry while everyone else rhymes about how horrible I am at rhyming, especially first thing in the morning on an empty stomach. I managed two spoonsful of porridge this year while my niece had about ten.

New Year’s Eve will be a quiet one at home with some fun nibbles, champagne, and a fire going as we welcome 2024. Who knows if I’ll even make it to midnight?

Would you like to share some of your holiday traditions? What brings you joy, especially this time of year when it can feel so dark and cold? Whatever and however you celebrate, I wish you warmth and love during this season and a wonderful 2024!

Home BuildingReal Estate November 13, 2023

Day One in Your New Home

Moving is a strenuous process, and it’s common to feel exhausted after it’s over. For some, the first few days in your new home can feel even more overwhelming than the weeks before the move. Luckily, there are some simple things you can do to stay organized and maintain your moving momentum to feel comfortable in your new space. Here are a couple of things to do on the first days in your new home.

Set Up Essentials

If you packed an “essentials box” for your move, now’s the time for it to shine. There are some things you can do right away in your new home to make it comfortable, functional and avoid any frustrating surprises. One major area to focus on is the bathroom. Make sure at least one bathroom has toilet paper and hand soap. You may also want to hang up your shower curtain and liner so you can take a refreshing shower as soon as you want to.

There are also some kitchen essentials you can set up to make things easier in your first few days. If you brought your own microwave, find a spot for it and plug it in. You’ll appreciate the freedom to heat a frozen entrée for a quick and easy meal while still unpacking your kitchen. Have a set of silverware and a few dishes out as well. These things will help you get situated and keep you comfortable while unpacking your belongings.

Secure Your Home

If you have a home security system or smart devices, don’t delay setting them up. It’s important to make your new home as secure as possible as soon as possible, and you may find it easier to do before you set up everything else. Unfortunately, moving households are a common target for opportunistic thieves, so keep track of your belongings and lock your doors when you leave.

Speaking of locks, change them. While it’s unlikely that anyone else has keys for the current locks, it’s better to be safe than sorry. Besides, changing the locks and getting brand new keys gives you the opportunity to get copies for each housemate or family member. Don’t forget to make a spare and keep it in a safe location.

While these are just a few suggestions for first-day tasks in your new home, they can make a significant difference in the rest of your process. The more comfortable and safe you are in your new home, the more efficient you’ll be with the rest of your unpacking.

Market statsReal Estate May 17, 2023

April 2023 Market Update for Northwestern Vermont

U.S. existing-home sales declined 2.4 percent month-over-month as of last measure, according to the National Association of REALTORS® (NAR),
reversing February’s sales gain of 14.5%. Fluctuations in mortgage interest rates have caused buyers to pull back, with pending sales dropping 5.2% month-over-month. Meanwhile, the median existing-home sales price declined for the second month in a row, falling 0.9% nationally from the same time last year, the largest year-over-year decline since January 2012, according to NAR.

New Listings decreased 25.3 percent for single-family homes and 36.0 percent for townhouse-condo properties. Pending Sales decreased 22.5 percent for single-family homes and 26.3 percent for townhouse-condo properties. Inventory decreased 3.3 percent for single-family homes and 2.3 percent for townhouse-condo properties.

The Median Sales Price was up 1.5 percent to $441,050 for single-family homes and 10.0 percent to $385,000 for townhouse-condo properties. Days on Market increased 55.6 percent for single-family homes and 26.1 percent for townhouse-condo properties. Months Supply of Inventory increased 20.0 percent for single family homes and 14.3 percent for townhouse-condo properties.

Housing inventory remains tight nationwide, with only 980,000 units available for sale heading into April, a 5.4% increase from one year earlier, although the number of homes for sale is down compared to the same period in 2019, prior to the pandemic. The lack of existing inventory continues to impact home sales, and with only 2.6 months’ supply of homes at last measure, competition for available properties remains strong, especially in certain price categories, with multiple offers occurring on about a third of properties, according to NAR.

designHome Staging March 29, 2023

Why hire a home stager?

Photo by Curtis Adams from Pexels

While there are many parts of staging you can do yourself, there are some important benefits to hiring a professional. A professional home stager can help you prepare your home for the market and can use their expertise to sell your home quicker and for a higher price.

Here are the three biggest reasons to hire a staging professional to help you sell your home:

Networking Power

If you’re working with a real estate agent to sell your home it’s likely they recommended you hire a staging professional to help. They might even have a specific individual or firm to suggest. Just by making that initial connection, you’re already benefiting from the powerful networking abilities that home staging professionals have. Home stagers “know all the right people” in the industry in order to do their jobs well. What does this mean for you? With access to a network of other professionals, stagers can help you get the best price for any materials or services needed to update your home. Painters, contractors or even furniture rental services are all examples of important contacts who can save you money. You also get the peace of mind that your staging professional has existing relationships with these other individuals or companies and knows what to expect in terms of service and costs.

An Objective Viewpoint

A home staging professional will provide you with valuable perspective. Having never lived in it, a stager won’t have the same emotional connection to your home. Even besides emotional attachment, they will see things you might miss as a homeowner simply because you see them every day. A staging professional will have a fresh and purely objective viewpoint on your home which will allow them to do their job to the best of their ability. They will identify potential issues, make suggestions or changes to prepare your home for potential buyers. The more experience they have in staging homes, the better: staging professionals are up-to-date on home trends and will cater to the current market with their knowledge.

Bringing Out the Best in Your Home

Staging professionals will see your home objectively but also strategically. When staging a home, it’s impossible to make everything absolutely perfect for every potential buyer. That’s why it’s important to find the best features of your home to highlight. Stagers can see the potential value in every aspect of your property and will know where best to apply your money and hard work. They might identify if you have under-used space and if you could rearrange your furniture to make your rooms seem bigger. They can replace or add new window treatments in order to emphasize a home’s natural light. A staging professional will identify and highlight what’s best about your home so that potential buyers will recognize and desire those features as well.

There are lots of details that go into staging your home for sale but the key benefit of hiring a professional stager is that they bring a fresh perspective. For example, what you might consider the best feature in your home might not be what buyers are looking for. You might need improvements in places you don’t notice because you see them every day. If you want the best possible price for your home, definitely consider hiring a staging professional to help.

 

Home Building August 15, 2022

5 Tips for Avoiding New Home Construction Mistakes

Photo by Pixabay from Pexels

New construction mistakes can be difficult for homeowners to avoid. After all, just what exactly do you know about fiberglass batts or blower tests? These are common industry terms, but not exactly everyday topics of conversation. Without overwhelming you with jargon or asking you to study up, we’ll look at our top five for buyers to avoid new home mistakes.

  1. Accept What You Don’t Know

Believe it or not, it’s beneficial to come in without expectations or assumptions. If you don’t know very much about the construction process, that’s perfectly fine. It shouldn’t stop you from buying a new build. However, it should prompt you to seek expert opinions. When you’re unsure of something, it’s better to speak up than nod along. From calling up past clients to hiring third-party inspectors, you have the power to clarify what’s going on in your soon-to-be dream home.

  1. Stay Involved

There are different degrees of involvement for buyers, depending on the policies of the builder and the interest of the buyer. Some buyers will want to be consulted on nearly everything, but others take a hands-off approach. When builders feel as though there’s no oversight, they might be more likely to make executive decisions that stray from the original plans. Look for builders who go the extra mile. For example, a company that provides a quality report at the end of each workday. (Just make sure that it’s one that you can interpret.)

  1. Check the Job Site

This is probably the easiest tip for anyone who’s unfamiliar with the home construction process. Cleanliness is often a sign of the builder’s attention to detail and time management skills. If they don’t see a problem in leaving litter around, they might not see a problem in rushing through the roofing either. Plus, how the site looks is also a signal to the crew and neighbors in terms of morale. The more disorganized, the more difficult it can be to respect the land and the home. However, keep in mind that a clean job site doesn’t necessarily mean everything is perfect. Some crews might not compromise on their work just because they leave a mess, and vice versa.

  1. Talk to the Supervisor

You should know who’s in charge of regular supervision and what they think of the process. You don’t have to be friends with them, but you should feel comfortable getting them on the phone and having a discussion. Supervisors should be giving you the real progress reports- ones that include unforeseen snags in the process as well as the triumphs. Just keep in mind that how a supervisor interacts with the crew will depend on their system. Some builders might rely primarily on subcontractors, which can affect the involvement or schedule of the supervisor.

  1. Don’t Second-Guess Yourself

When you’re building a home from scratch, you don’t want to make too many changes when you’re already in the construction process. This doesn’t mean that you can’t have some last-minute requests, but it does mean that you should be keeping them to a minimum. Altering plans has ripple effects for other jobs down the line, creating more chances for mistakes to be made. You should have the location, team, and configuration details finalized long before anyone breaks ground. By keeping tabs on the build, there are fewer chances of an unpleasant surprise. While builders will work with you if problems are discovered after the official home inspection, it’s easier to avoid those negotiations altogether by being involved from the beginning.

GardeningLandscaping August 3, 2022

Shade Garden Ideas You’ll Love

A shaded yard or garden space might seem like a challenge. However, there are many plants like Solomon’s seal that prefer partial to full shade. If you’re searching for plants to fill your shaded garden, here are some suggestions to consider:

Solomon’s Seal

Solomon’s seal plants have long, arching vines with rows of hanging flowers resembling tiny lanterns. This shade-loving plant also loves plenty of moisture and will thrive in cool, damp gardens. There are over 60 different varieties of the plant with different foliage and flower colors to fit your specific taste.

Periwinkle

Periwinkle, also called “creeping myrtle,” is an excellent ground cover for shady areas. It’s a popular choice of plant for underneath large trees where lawn grasses wouldn’t get enough sunlight. Periwinkle vines spread rapidly across the ground and produce purple star-shaped flowers. One important thing to note is that this shade-loving plant is considered invasive in certain regions, so take measures to keep it contained to your own property.

Hosta

Hostas are a staple for shaded gardens and yards. While they don’t bloom, there are dozens of species with an entire rainbow of foliage colors. You can find hostas in bold colors like chartreuse and deep blue. There is also a wide range of leaf sizes among the many types of hosta, from coin-sized leaves to foliage more than a foot across.

Hemlock

If you’re searching for trees to plant in your shaded garden, consider hemlock. These trees can grow anywhere from 40 to 70 feet tall, but can be contained to smaller sizes if pruned regularly. Hemlock requires some specific conditions to flourish. Particularly, the plant needs well-draining soil and the lack of drought or heavy winds. Hemlock are a great choice for regions with temperate, wet weather.

Climbing Hydrangea

While most thing of hydrangea as a full-sun flower, the climbing variety loves the shade. You can use it as a flowering ground cover, or train the vines to climb walls or trellises. Climbing hydrangea vines can reach over 60 feet long and become very heavy, so providing a sturdy structure is key if you want the plant to climb.