Category: Yancey Blog

It’s easy to be wowed by a house. You’re anxious to discover your dream home and accomplish a big goal. You can’t wait to cook in the brand new kitchen or relax in the spa-style tub. All that excitement can also make it easy to dismiss some minor issues that can become major annoyances down the road. Rather than letting your excitement get the best of you, take the time to analyze smaller details properly.

Don’t dismiss the location
Let’s say you find a perfect home that’s an extra 20 minutes each way from work. Those 40 total minutes don’t seem like a big deal at first glance, but consider that you’ll be dealing with that extra commute day after day, year after year for as long as you live in the house. Is that an inconvenience you’re willing to deal with? Make an educated decision—do a test run of the actual commute and see whether it’s tolerable, or would eventually drive you crazy.

Stressing location also means committing to a neighborhood. Does the potential neighborhood align with your priorities? Make sure you’re choosing a location that makes it easy to do the things you love most, whether that’s enjoying city nightlife or escaping to quiet home away from it all.

Working order
Shiny new appliances and an open-concept living space may be on your list of must-haves, but don’t let the aesthetics distract from the basics.

Are the basement and attic in good shape? Problems like mold and water damage can turn an otherwise perfect home into a nightmare, and a poorly insulated attic can cause your bills to skyrocket.

None of these issues should necessarily remove a home from consideration—you just have to be aware of the total package.

It’s easy to get stressed out just hearing the word “renovation.” You’re instantly thinking of having your home life disrupted by construction debris, cluttered rooms, and loud noises.

But you don’t have to spend a ton of money and brace yourself for months of inconvenience to upgrade your home. Here are a few projects that you can knock out in a single day, and they’ll greatly improve the look and enjoyment of your home.

Paint or replace an exterior door: If you know the correct dimensions and specifications for a replacement door, replacing an exterior door is a quick and easy job. That’s even more true if you’re repainting it. Preparation and a few coats of paint will only take a few hours.

Plant some low-maintenance trees: Young evergreen trees are relatively simple to plant, and after some heavy watering in the first few weeks, they’re very easy to maintain. They’ll add some color and texture to your landscaping, instantly improving curb appeal.

New light fixtures: Whether they’re on the interior or exterior of your home, something as subtle as light textures can have a dramatic effect. Swapping out traditional fixtures for something modern or industrial can completely transform a room.

New hardware: Drawer pulls and door knobs are easy to change out, and like light fixtures, they have a big impact. You’d be amazed how your kitchen or bathroom could look with new hardware.

Living an environmentally-friendly lifestyle and helping to keep our planet clean isn’t as difficult as you may think. All it takes is a few small tweaks. To start, here are five great tips for going green in your kitchen!

Filter your water. Not only does this allow you to remove contaminants like lead, chloroform, chlorine, etc. from your drinking water at home, but you can save money and reduce waste by avoiding bottled water. Choose between a water-filtering pitcher or faucet-mounted option.

Reduce water usage. It’s a common misconception that running your dishwasher uses a lot of water, when in fact, it generally uses less than hand washing dishes. Just make sure to only run it when full and use the light wash and air dry settings. You can also purchase a low-flow aerator for your kitchen faucet to cut down on water usage.

Avoid unnecessary packaging. When grocery shopping, avoid single-serving products and produce packaged in styrofoam and shrink-wrap to reduce waste. At home, opt for reusable containers, such as jars and Tupperware, instead of foil, plastic wrap, and Ziploc bags.

Switch your cooking appliances out. Instead of using your full-size oven, consider using a toaster oven, microwave, or slow cooker instead. These appliances use between 30 to 50 percent less energy to heat.

Buy local. Shopping at locally-sourced stores or farmers markets does not only allow you to support your neighbors and community but is sustainable for the environment. The food you purchase does not have to travel far to get to you, helping to reduce carbon emissions.

In the past few years, the biggest kitchen trends revolved around stainless steel appliances, bright white or light gray cupboards, granite countertops, and minimalist decor, maintaining a clean, sleek look. And although this style maintains its popularity among homeowners, color is creeping its way back to the forefront. But it is definitely not how you’d expect.

Introducing the rise of colored appliances. Consumers have been asking and kitchen appliance manufacturers have listened. Instead of your standard white, black, and stainless steel, these companies are now producing baby blue ovens, green vent hoods, pink standing mixers, teal grills, and more. Some of these companies have produced specific color lines while others are going above and beyond, offering the ability to match any color swatch or metal treatment you wish.

On top of these pops of color, according to BHG.com, consumer research indicated a 150 percent increase in interest in shades of metallic, including brass and copper, and a 364 percent increase in interest in gold cabinetry. 

However, a brand new appliance may be outside your budget, especially if you are a new homeowner. Not to worry! There is always the infallible accent wall, counter base, or pantry door. This cost-effective, do-it-yourself option is an easy way to refresh the look of your kitchen. You can also consider bringing in bright-colored stools or chairs or introducing bold tiles into your backsplash.

Outdated kitchen. Overrun backyard. Unusable basement space. If you have a home renovation project on the mind, the first thing you have to consider is how you are going to finance it. Here are the most common options to make your dreams become a reality.

Cash. Paying in cash is the most straightforward financing option, just save until you have enough money to cover the expenses. This will help eliminate spending outside your budget; however, it can also extend your timeline.

Mortgage Refinance. If you’ve been making payments on your home for a few years and your interest rate is higher than current market rates, you may be eligible for a mortgage refinance, reducing your payments and freeing up some money. 

Cash-Out Refinance. You can tap into your home equity and borrow up to 80 percent of your home’s value to pay off your current mortgage plus take out more cash to cover the renovations. This option is encouraged only when you’re making improvements that will increase the value of your home, as it can add a lot of interest and fees.

Home Equity. Getting a home equity line of credit allows you to borrow money against the value of your home. You receive usually up to 80 percent of your home’s value, minus the amount of your loan. 

Retirement Funds. Homeowners can consider pulling money from a 401K or IRA account, even though they aren’t specifically meant to cover a home renovation. This option might incur additional penalties or tax payments, but may be worth it when making improvements that will benefit them financially in the long run.

Choosing to enter the home buying process is likely the largest financial decision you will make in your lifetime, so it is not one that should be taken lightly. Ensuring that your other current and upcoming financial responsibilities are under control is crucial to having a smooth transaction and being able to enjoy your investment fully. These tips will help you prepare your budget for purchasing your dream home.

Calculate your monthly income. How much money is coming in every month? This is the amount that is left after taxes, health insurance, and retirement savings are taken out of your monthly salary. 

Understand your current expenses. Make a list of all your current recurring expenses month to month. Don’t forget to factor in things like loan payments, gym memberships, car maintenance, groceries, self-care appointments, etc.

Determine where you can find savings. Are there any ongoing memberships or subscriptions you don’t use that can be cancelled? Can you cut out your daily coffee or eating out a lunch? Make these adjustments right away to start saving more.

Boost your financial standing. Before buying a home, it is recommended that you dedicate extra effort to paying off other debts and boosting your credit score. Taking these steps will help you during the loan approval process. 

Don’t move finances around. Your lender will review your bank statements during the pre-approval process and then again during underwriting. Any large withdrawals or deposits may throw a red flag so try to avoid these when possible. If you can’t, make sure you have proper documentation to explain the movement of money.

Yancey Realty wishes you a spooky and fun Halloween! Whether you’re trick or treating with the family, or staying in to watch a scary movie (or 2!) enjoy your day!