Category: Yancey Blog

Whether it’s your first time buying or you just want to purchase something smaller, townhouses and condos are both great options. Check out the differences between the two to help aid you in your search!

Condominiums

Condominiums are similar to apartments in that you purchase an individual unit inside of a larger building, but not the property it sits on. This generally includes access to the building’s amenities, such as the clubhouse, pool, and gym. However, condo owners are not responsible for the upkeep and repair of these common areas. Because of the number of shared spaces, living in a condo often allows for meeting new people and building a strong sense of community. There is a fairly similar vetting process for loan approval as for a full-sized home; however, the lender will also look at the health of the condo association.

Townhouses

Those who purchase a townhome are generally purchasing the complete unit, both inside and out, including the land it sits on. This might also include the driveway, yard, or roof. Traditionally, these units are two- or three-stories tall and may also include common areas like pools and parks. Townhome owners pay a fee to a homeowners association every month and the loan process is a same as buying a full-sized home.

Which is the best choice?

Both townhomes and condos offer less maintenance than a traditional home and generally offer great shared areas. Your decision ultimately comes down to your and your family’s needs and wants. Things you’ll want to take into consideration include location, lifestyle, family growth, and price.

Some the features that increase property values are obvious—like a remodeled bathroom, a modern kitchen, or a sought-after neighborhood. But here are a few features and circumstances you have not have realized can affect property values.

 1. The neighbors: Not every neighborhood or community has an HOA that can keep the neighbors from going overboard with decorations or neglecting to care for their home. Homes adjacent to crazy neighbors can potentially be undervalued. 

 2. Trendy groceries and coffee: Recent statistics suggest that if your home is a short walk from popular grocery stores like Whole Foods or coffee chains like Starbucks, it can actually appreciate faster than the national average.

 3. Mature trees: A big beautiful tree in the front yard is enviable, and it’s not something that can be easily added to any home. Homes with mature trees tend to get a little boost in value.

 4. Parking: This isn’t too much of an issue if you live in the suburbs or in a rural area, but residents in dense cities can have real problems with parking, and homeowners might need to rent a spot just to guarantee a place to park each night. That’s why having guaranteed parking in urban areas will raise property values.

 5. The front entrance: First impressions matter to buyers—many will cross a home off their list within 10 seconds of stepping through the front door. An appealing front door, a friendly entryway, and a functioning doorbell are all necessities for getting top dollar.

The kitchen is one of the areas of a home that sees the most wear and tear. All the water, heat, and food spills add up quickly, so it’s important to focus on quality and lasting appeal if you’re choosing materials for a kitchen remodel. Here are a few things you should avoid:

Cheap laminate counters: The bottom rung of laminate is extremely susceptible to wear and tear. It can melt if you forget to place a hot pad under a pan that’s fresh off the stove, and the edges can chip off from repeated exposure to moisture and heat.

Flat paint: A flat or matte finish is great in rooms with lower traffic, but it’s a bad idea in the kitchen, where the walls are regularly exposed to splatters and spills. You need paint that can withstand an occasional heavy scrubbing, so opt for gloss or semi-gloss finishes.

Trendy backsplash: If you watch any home remodeling shows, you’ve certainly seen kitchens with expensive, elaborate backsplash designs and materials. Those trends can be pricey to pursue, yet can look dated in a hurry. Subway tile is a cheaper, classic option that you’ll never regret—and you’ll have more room in your budget for quality materials elsewhere.

Cheap flooring: Just like the countertops, your kitchen floor needs to be strong enough to take some abuse. Cheap flooring easily scuffs and peels (especially from moisture). Quality flooring is worth the investment.

When you’re house hunting, focus on the things that will improve your quality of life.
There are so many factors that go into a home buying decision that it can make your head spin—especially if you’re in a competitive market where time is of the essence. The desire to purchase a property makes it easy to look past issues that could detract from your enjoyment of the home and cause some regrets down the road. That’s why when you’re weighing your options, quality of life should always be the top priority.

Location is part of lifestyle
Buyers often focus on “must haves” that can be added via renovation, but will downplay factors that are impossible to change. For example, if you work and spend much of your free time in the heart of a busy city, a house in the suburbs may mean more space for the same price, but it could also mean long commutes and a major hit to your nightlife. A centrally-located condo might be a better option.

On the other hand, if you’re a weekend warrior who looks forward to skiing, hiking, and mountain biking trips, living outside the city may be perfect—you’re that much closer to the trails when you wake up on Saturday morning. It’s a cliche, but it’s true: Location, location, location.

Big homes aren’t for everyone
If you love entertaining friends and family, a big house makes perfect sense. You’ll have all the space you need to prepare meals and throw big parties, and your guests won’t have any trouble finding parking.

But a big home also means more cleaning and maintenance—more lawn to mow, more bathrooms to scrub, more things that will break and need fixing. Before you dive into an alluring big home, consider your tolerance and enthusiasm for the upkeep. For some, a smaller home or a professionally-maintained condo are better options.

Adding plants to your home will give it a fresher and brighter feel and will also improve your home’s air quality. Although it does take a little bit of work and consistency to maintain your plants, but it’s well worth the effort. Here are a few tips for keeping your plants looking great.

 1. Use leftover water from cooking. Plants love the extra nutrients from your leftover cooking water that can’t be found straight from the tap. Instead of dumping the water right after boiling vegetables, let it cool and use it to water your plants.

 2. Coffee makes great fertilizer. Rather than throwing your used coffee grounds in the trash, empty out your French press or coffee filter straight into a planter.

 3. Dust your plants. This should be part of your regular dusting and cleaning routine. Keeping your plants’ leaves dust-free keeps them healthier.

 4. Pay attention to soil types. Different plants require different soils. Do some research to discover each plant‘s preferred soil. For instance, succulents require sandy, dry soil.

 5. Beware of root rot. Houseplants are prone to root rot because there’s often no where for excess water to drain from the planter. Prevent root rot by putting pebbles in the bottom of the planter, which elevates the roots. Use a water-hydrogen peroxide mixture for plants that are already showing signs of root rot.

Painting is one of the most inexpensive ways to give your home a makeover. Whether it’s updating an old bathroom paint scheme or adding a bold accent wall, painting can totally transform a room. But painting can be a big hassle and come with tons of prep work and clean up. Here are a few of Breakthrough Broker’s top tips to make your painting experience more enjoyable and lead to a more professional finish.

Prep beyond tape and drop cloths
A drop cloth will protect your floors, but a thick and durable drop cloth is also a little clumsy to maneuver. For smaller, awkward items that are in danger of paint splatter, use plastic wrap. It’ll make it much less frustrating to protect a toilet or bathroom sink.

Be ready for spills and splatters
At the very least, a few drops of paint are going to end up where you don’t want them. Have a rag and some Q-Tips ready for the inevitable paint splatter, so that you can quickly wipe them off before they dry and set on your frames, countertops, or hardwood floor.

Use heat to remove tape Patience is key when removing painter’s tape, but it can still tear and leave splotchy edges no matter how careful you are. Hold a heat gun or hair dryer a few inches away from the tape as your remove it little by little. The heat will break down the adhesive and make removing the tape a much less frustrating task.

More and more people are cutting the cord and going without television service, but for many—especially those who watch a lot of live programming— cable is still a necessity. Cable and satellite companies love to sign customers to a two-year contract, but will dramatically raise your bill when a promotional period ends after one year. Suddenly, you’re paying $50 or more per month for the same services.

Here’s how to get (and keep) the best deals on television service.

Know what’s in store: Cable and satellite companies seemingly make it impossible to go online to downgrade your services, cancel service, or choose a new bundle. Even online chat support gives the cable company the upper hand. Picking up the phone and negotiating remains the best way to get the lowest price for your television service.

Knowledge is power: Before you call, do some research. Understand the terms of your current contract, see which bundles your cable provider is currently offering to new customers, and price out similar service offerings from other companies. You’ll be in a better bargaining position if you have the freedom to cancel on your current provider.

Make the call: Make it clear to the support representative that you are calling because your rates have increased and you’re considering cancelling if they cannot lower your bill. The support representative will initially try to offer higher-priced bundles or short-term freebies, but don’t give up on the negotiation—remember, you already know you can switch to another provider. If the sales representative won’t budge, you can even end the call, and try again with a different representative. In most cases, they would rather find a package that works than lose a customer.

Shopping around for the best possible mortgage terms is an important part of the home buying process. A few percentage points can make a difference of thousands of dollars over the life of the mortgage. Mortgage rates can be a bit of a mystery—especially for first-time homebuyers—so here’s an overview of the most important factors.

YOUR FICO SCORE

This is the part of the mortgage equation that should come as no surprise. From a lender’s perspective, your financial history is the best indicator of whether you’ll be a stable, responsible borrower. It’s the primary factor in determining your mortgage rate, so if you’re planning on purchasing a home in the near future, concentrate first and foremost on improving your FICO score.

LOCATION AND SIZE MATTERS

“Location, location, location” is an old cliché in real estate, but it also applies to mortgage rates. The city, county, and state that you live will factor into your mortgage rate. Mortgage rates can also vary among local lenders and the size of the loan will come into play. The more money you borrow, the higher your interest rate is likely to be, unless you’re also increasing your down payment.

LOAN LENGTH AND TYPE

Lenders incentivize shorter mortgage terms with lower mortgage rates, so you’ll get a more favorable rate for a 15- or 20-year mortgage versus a 30-year mortgage. If you can afford the higher monthly payment, you’ll pay much less in interest over the course of the loan term.

The basement is usually an afterthought in homes, especially if it’s not already finished when you move in. The lack of natural light compared to the ground floor and above doesn’t always make for the most inviting space. However, there are plenty of ways to improve your basement that will both increase your home’s value and give you more space to enjoy.

 1. Home theater: Basements can be the perfect space for a home theater, as they already have little lighting and offer ample space and an escape from summer heat or winter cold. A TV mount and some simple built-in seating can be accomplished for under $2,000.

 2. Play room: Kids have a tendency to scatter their toys all over the house. Creating a playroom helps keep the mess confined to one area, plus basements often offer great storage capabilities. Just update the space to make it kid-friendly with features like egress windows, carpet, and a safe, finished staircase.

 3. A bar: Grownups need a play space too! Creating a bar in your basement is an easy upgrade and allows you to keep your gatherings focused in one room, making post-party clean up easier.

 4. Utility room: If you do a lot of gardening or other DIY projects around your home, add a sink and hose to give yourself a space for cleanup and storage. This is especially useful if you don’t have much room in your garage.

 5. Family room: You can keep your formal living room upstairs and add a second space that’s more focused on relaxation and watching TV as a family.