Smaller Homes, Bigger Opportunities: The Homebuilder Trend Buyers LoveIt’s no secret that affordability is tough with where mortgage rates and home prices are right now. And that may have you worried about how you’ll be able to buy a home. But, if you don’t need a ton of space, you may find you have more cost-effective options in an unexpected place: new home communities.
Builders Are Building Smaller HomesSince smaller homes typically come with smaller price tags, buyers have turned their attention to homes with less square footage — and builders have shifted their focus to capitalize on that demand. As U.S. News notes:
“The combination of higher home prices and mortgage rates has strained a lot of people's budgets. And that's something builders recognize. To this end, they may be leaning toward smaller spaces . . .That, in turn, can lead to savings for buyers.”
Data from the Census shows the overall builder trend toward smaller, single-family homes has been over the last couple of years (see graph below):
As the graph shows, the average size of a brand-new home has dropped from 2,309 square feet in Q3 2022 to 2,171 square feet in Q3 2024. That’s a difference of 138 square feet.
At the end of the day, builders want to build what they know will sell. And the number one thing homebuyers are looking for right now is less expensive options to help offset today’s affordability challenges. As Multi-Housing News notes:
“The growing trend toward smaller homes is evident. These homes are less expensive to build and more attainable for many middle-income families, meeting both housing needs and modern lifestyle preferences.”
The Benefits of These Brand-New HomesSo, if you’re having trouble finding a home in your budget, it might be worth exploring newly built homes with a smaller footprint.
Not to mention, since newly built homes come with brand new everything, they have fewer maintenance needs and some of the latest features available, like energy-efficient appliances and HVAC. That’ll help you save on repair costs and your monthly utility bills. Sounds like an all-around win.
Bottom LineToday’s builders are focusing their efforts on smaller homes at lower price points. That could give you more opportunity to find something that fits your budget. If you're planning to buy soon, let’s connect to explore what's on the market in your area and get your homeownership goals over the finish line.
The Real Benefits of Buying a Home This YearHave you been wondering whether you should keep renting or finally make the leap into homeownership? It’s a big decision, and let’s be real — renting can feel like the easier option, especially if buying a home feels out of reach.
But here’s the thing: a recent report from Bank of America highlights that 70% of prospective buyers fear the long-term consequences of renting, including not building equity and dealing with rising rents.
Maybe you’re feeling that too — concerned about where renting might leave you down the road, but still unsure if you'd even be able to buy right now. The truth is, if you’re able to make the numbers work, buying a home has powerful long-term financial benefits.
Let’s break down why homeownership is worth considering in 2025 and beyond, and how it can help set you up for the future.
Buying Builds Wealth Over TimeBuying a home allows you to turn your monthly housing costs into a long-term investment. That’s because, as shown in data from the Census and the Department of Housing and Urban Development (HUD), home prices tend to increase over time (see graph below):
Rising home prices directly benefit homeowners. That’s because when you own a home, you build equity — meaning your ownership stake in your home grows as you pay down your mortgage and your home's value appreciates. And that, in turn, makes your net worth grow too.
Maybe that’s why, according to the National Association of Realtors (NAR), 79% of buyers believe owning a home is a good financial investment.
Renting Comes with Rising CostsRenting may feel more affordable in the short term, especially right now with today’s home prices and mortgage rates. But the reality is, over time, rent almost always goes up too. Take a look at the data and you can see that play out. According to Census data, rents have significantly increased over the decades (see graph below):
This means if you decide to rent, you’ll likely face growing expenses each time you renew or sign a new lease – and that’ll happen without building any wealth in return. Plus, those rising costs may make it harder to save up to buy a home down the road.
Renting vs. Buying: The Long-Term ImpactWhen you own a home, your payments are an investment in your future. Renting, on the other hand, means your money is gone for good — it helps your landlord build equity, not you.
Renting works for those not ready (or able) to buy today. But if you are able to make the numbers work, buying a home builds equity and sets you up for long-term financial success. So, even though renting may seem easier now, it can’t match the benefits of homeownership.
Bottom LineIf you can afford it, take control of your financial future by making homeownership part of your plan. It’s an investment you won’t regret.
Do you want to see what starter homes are available in our market? Let’s connect today to explore your options.
Your garage is more than just a place to park your car or stash random belongings—it’s an extension of your home. A functional garage improves your daily life and adds significant value to your property. Whether you’re a homeowner looking to maximize utility, an investor focused on boosting equity, or a DIY enthusiast ready to optimize your space, these tricks will help you make your garage a more functional, appealing space.
Optimize Space With Smart Storage SolutionsA cluttered garage can quickly become an unusable one. To make the most of your space, focus on storage solutions that use your walls and ceiling strategically. Consider installing wall-mounted shelving to keep items off the floor while maintaining easy access. Pegboards are excellent for organizing tools and other small equipment.
Overhead storage is another practical solution. Suspended shelves can hold seasonal items, such as holiday decorations and camping gear, freeing up valuable ground-level space. For a truly customized experience, modular storage systems allow you to mix and match cabinets, drawers, and hooks to suit the unique size and contents of your garage. A well-organized garage maximizes its functionality.
Create Comfort With the Right Heating OptionsIf your garage is more than just a storage area, comfort becomes a key factor—especially if you’re using it as a workshop, home gym, or office. When temperatures drop, working in cold conditions is challenging. Choosing the right infrared garage heater can make a significant difference in usability and function.
Infrared heaters warm objects and floors directly instead of wasting energy heating the air, making them efficient and effective for large spaces. These heaters also operate quietly and provide instant heat, which allows you to enjoy a cozy garage no matter the weather.
Improve Lighting for a Productive SpaceProper lighting can dramatically enhance the functionality of your garage. Too often, garages rely on dim, outdated bulbs that make simple tasks cumbersome chores. Upgrading to LED lights can brighten the entire area while reducing energy consumption.
Focus on creating layers of lighting. Overhead lights should be bright and evenly distributed, ideally covering the entire garage. For task-oriented areas like workbenches, under-cabinet or focused task lighting is a must. Motion-sensor lights are also worth considering for convenience and efficiency, especially if you use your garage frequently at night.
Enhance Security To Safeguard Your GarageSecurity is often overlooked when upgrading a garage, but it’s important for overall functionality. Start with a solid-quality garage door that features strong locking mechanisms. Smart garage systems are an advanced option as they offer remote control and monitoring capabilities through your smartphone.
A functional garage is an achievable goal for every homeowner. By optimizing space with innovative storage solutions, ensuring comfort with the right heating options, upgrading your lighting, and enhancing security, you can unlock your garage’s full potential. Use these tips and tricks to make your garage more functional and reap the rewards of a more profitable home remodel.
3 Reasons To Buy a Home Before SpringLet’s face it — buying a home can feel like a challenge with today’s mortgage rates. You might even be thinking, “Should I just wait until spring when more homes hit the market and rates might be lower?”
But here’s the thing, no one knows for sure where mortgage rates will go from here, and waiting could mean facing more competition, higher prices, and a lot more stress.
What if buying now — before the spring rush — might actually give you the upper hand? Here are three reasons why that just might be the case.
1. Less Competition from Other BuyersThe winter months tend to be quieter in the real estate market. Fewer people are actively looking for homes, which means you’ll likely face less competition when you make an offer. This makes the process feel less rushed and less stressful.
According to the National Association of Realtors (NAR), homes sit on the market longer in winter compared to spring and summer (see graph below):
Fewer buyers in the market means you’ll likely have more time to make thoughtful decisions. It also means you may have more negotiating power. According to the Alabama Association of Realtors:
“A significant benefit of buying a home in winter is the reduced competition. Because of the perceived benefits of spring, many buyers delay the start of their house hunt. As a result, you will find fewer people competing for the same properties during winter. Less demand can translate into more negotiating power as sellers may be more willing to entertain offers or agree to concessions to get a deal closed quickly.”
2. More Negotiating PowerWith homes staying on the market longer, sellers may be more willing to negotiate. This can lead to better deals for you as a buyer, whether that means a lower price or added incentives, like sellers covering closing costs or making repairs. As Chen Zhao, an Economist at Redfin, points out:
“. . . buying during the off season means less competition from other buyers. That means potentially negotiating a better deal.”
Plus, when demand is lower, sellers often feel more pressure to work with serious buyers. This could give you an edge to negotiate terms that work best for your situation.
3. Lock in Today’s Prices Before They RiseHistorically, home prices tend to be at their lowest point in the winter months, too. According to data from NAR, home prices last year were at their lowest in January, February, and March — right before the spring buying season kicked in (see graph below):
This trend isn’t new — Bright MLS shows between 2010 and 2024, home prices in January and February were, on average, 15% lower than during the month of peak home prices (typically June). Buying in the off-season means you’re more likely to avoid paying the premium prices that come with the high demand of spring.
On top of that, home prices generally appreciate over time, meaning they tend to go up year after year. That means if you’re ready to buy and you can make it happen, you’re not only taking advantage of what might be the lowest prices of the year, but you’re also locking in today’s price before it increases in the future.
Bottom LineWhile spring may seem like the obvious time to buy, moving before the peak season can give you significant advantages, like less competition, more negotiation power, and lower prices.
If you’re ready to explore your options, let’s connect.
Buying a home can be exciting and overwhelming, especially for first-time buyers. While location, price, and layout often dominate the decision-making process, understanding the physical condition of the property is equally important.
A home in poor condition can lead to costly repairs and unexpected challenges, turning what should be a dream purchase into a financial burden. Although a professional home inspection is a vital step in the process, learning the signs you are buying a house in good condition will also save time and provide added peace of mind.
A Well-Maintained ExteriorA home's exterior can reveal much about how well its owners have maintained the property. Look for clean siding or well-kept brickwork, properly functioning gutters, and a roof that appears intact without missing or damaged shingles. Pay attention to the foundation as well; large cracks, uneven spots, or water pooling around the base could be red flags for structural issues.
Properly Functioning Doors and WindowsDoors and windows are critical to a home's functionality and energy efficiency. Check that doors close smoothly and latch properly without squeaking or sticking. Ensure windows open and shut without resistance and that their seals appear intact. Drafts near doors or windows can indicate poor insulation or needed upgrades, increasing future costs for heating and cooling. High-quality, functional windows and doors improve the home's energy efficiency and indicate attention to detail in maintenance.
A Garage in Good ConditionIf the home has a garage, it is important to assess its condition, as this space often reflects the overall care given to the property. Look for cracks in the garage floor or signs of water damage. Pay close attention to the garage door, ensuring it opens and closes smoothly and doesn’t exhibit unusual noises or resistance. Garage door warning signs for homebuyers might include sagging sections, rusty parts, or a motor that struggles to operate.
Updated Plumbing and Electrical SystemsCheck faucets for steady water flow and ensure the water pressure is consistent throughout the home. Look for any signs of leaks under sinks or around water heaters, which could lead to long-term damage. Test light switches and electrical outlets to ensure everything is functioning correctly. An up-to-date circuit breaker panel and properly labeled circuits indicate that the home's electrical systems are in order.
Clean and Safe FlooringInspect the flooring throughout the home to ensure it is in good condition. Hardwood floors should not have large gaps or noticeable warping, while carpets should be free of stains and smells. Tiles should be firmly in place without cracks or chips, and grout lines should appear clean. Damaged flooring can be costly, so identifying issues early on can help you consider whether the home is worth the investment.
By learning to identify the signs you are buying a home in good condition, you will feel more confident in your decision. While no house is perfect, spotting these positive indicators allows you to weigh the pros and cons effectively.
Last year as many as 1 in 3 sellers took their house off the market because it hadn’t sold. If you were one of them, let’s connect to come up with a new strategy.
#sellingahome #realestateadvice #keepingcurrentmatters
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Data Sourceshttps://www.zillow.com/research/sellers-housing-trends-report-2024-34385/
Last year as many as 1 in 3 sellers took their house off the market because it hadn’t sold. If you were one of them, let’s connect to come up with a new strategy.
#sellingahome #realestateadvice #keepingcurrentmatters
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Data Sourceshttps://www.zillow.com/research/sellers-housing-trends-report-2024-34385/
Solar-ready homes are revolutionizing real estate by offering buyers a blend of sustainability and economic benefits. With a growing emphasis on renewable energy and an increasingly solar future, these homes have become a key selling point for forward-thinking buyers. By integrating advanced solar technologies, properties gain a competitive edge, and help owners reduce their carbon footprint.
Solar Innovations Leading the RevolutionContinuous advancements in solar technology fuel the push for solar-ready homes. Modern solutions like high-efficiency solar panels and integrated systems allow homeowners to harness renewable energy effectively. Integrating advanced solar technologies makes it easier for homeowners to adopt renewable energy solutions. EnGoPlanet stands out as a company whose products can enhance property value and reduce environmental impact. This progress makes solar systems more affordable and user-friendly, encouraging adoption across various demographics.
Another way solar-ready homes are revolutionizing real estate is the incorporation of smart home technology. Solar-ready homes now feature tools that monitor energy usage, optimize panel performance, and provide real-time data on energy savings. These features appeal to tech-savvy buyers, further driving demand in the real estate sector.
Increased Buyer Demand for Solar-Ready PropertiesAs environmental awareness grows, so does the appeal of homes that prioritize sustainability. Buyers are actively seeking properties that offer reduced energy costs and align with eco-conscious values. Solar-ready homes cater to these needs, significantly shifting purchasing priorities.
Incentives provided by governments and utility companies also contribute to the rising demand, making solar a great investment. Tax credits and rebates for installing solar systems make these homes even more attractive. Additionally, energy savings over time can offset the initial investment, making solar-ready homes a financially smart choice for buyers.
Enhancing Efficiency and Utility of Solar-Ready HomesMaximizing the efficiency of solar-ready homes requires thoughtful design and strategic enhancements. To achieve optimal performance, many homeowners are incorporating solar battery storage solutions. Many homeowners are choosing to get solar battery storage to maximize the efficiency of solar-ready homes. This addition not only ensures an uninterrupted energy supply during outages but also enhances the overall value and appeal of the property in the real estate market.
Proper maintenance and system upgrades also play a crucial role in ensuring long-term efficiency. Regular cleaning of panels and routine inspections can significantly boost energy output. Homeowners who invest in these measures can enjoy consistent savings and maintain the property’s appeal in the competitive housing market.
Real Estate Market ImpactSolar-ready homes are revolutionizing real estate by their impact on real estate trends. These properties often sell faster and at higher prices compared to traditional homes. The perception of reduced utility bills and environmental responsibility makes solar-ready homes highly desirable among buyers.
Regions with abundant sunlight, such as California and Arizona, have seen a notable increase in demand for energy-efficient homes. However, even in areas with less consistent sunlight, advancements in technology ensure efficient energy production, expanding the appeal of these properties nationwide. Real estate agents increasingly highlight solar features as a primary selling point, recognizing their influence on buyer decisions.
Environmental Benefits of Solar-Ready HomesOne of the most significant advantages of solar-ready homes is their positive impact on the environment. These homes help reduce reliance on fossil fuels, major contributors to greenhouse gas emissions. By generating clean energy from the sun, solar-ready homes decrease carbon footprints and promote a more sustainable lifestyle.
Moreover, solar energy reduces the strain on traditional power grids, especially during peak usage times. This lowers overall energy consumption and minimizes the risk of power outages. Communities with a higher concentration of solar-ready homes can collectively benefit from a more stable and reliable energy supply. These environmental perks further enhance the appeal of solar-ready homes, solidifying their role in combating climate change.
The environmental benefits extend beyond individual households. By increasing demand for solar-ready homes, the real estate market can drive broader adoption of renewable energy solutions. This shift encourages manufacturers and governments to invest more in sustainable energy infrastructure, creating a ripple effect of positive change for the planet.
Financial Incentives for Solar-Ready HomeownersInvesting in a solar-ready home comes with a variety of financial incentives. Homeowners can take advantage of federal tax credits, state-level rebates, and utility incentives to offset the initial solar installation costs. These programs make solar systems more accessible to a wider range of buyers, ensuring affordability without sacrificing quality.
Additionally, solar-ready homes offer long-term savings through reduced energy bills. Over time, the energy generated by solar panels can significantly lower monthly utility costs, creating a financial cushion for homeowners. Many buyers consider this a major advantage when choosing between traditional properties and solar-ready alternatives.
Another financial benefit is the increased resale value of solar-ready homes. Studies show that properties with solar installations often sell at a premium compared to non-solar homes. This enhanced value provides a strong return on investment, making solar-ready homes an appealing choice for both current and future homeowners. As awareness of these financial advantages grows, more buyers will likely prioritize solar-ready homes in their search for sustainable housing options.
The Future of Solar-Ready HomesThe shift toward renewable energy is more than a trend; it’s a necessary evolution in housing. Solar-ready homes represent a commitment to sustainability and innovation, setting a new standard in real estate. As technology advances, the accessibility and affordability of solar solutions will likely improve, further solidifying their place in the market.
For buyers and sellers alike, focusing on solar-ready homes offers a unique opportunity to embrace eco-friendly living while enhancing property value. These solar-ready homes are revolutionizing real estate and reshaping how we approach energy consumption and sustainability. With the right investments and upgrades, solar-ready homes can continue to lead the way in creating a greener future.
solar-ready homes are revolutionizing real estate
Discover how advancements in solar-ready homes are revolutionizing real estate and boosting property values.
https://www.sciencedirect.com/science/article/abs/pii/S0196890404000160
https://www.pexels.com/photo/man-with-gloves-holding-solar-panels-on-the-roof-9875408/
If you’re trying to decide whether to buy now or wait until mortgage rates come down, here’s something to think about. Let's say you buy a $400K house now. Based on home price projections, you could gain roughly $83K in equity over the next 5 years. So, if you're able to buy now, it'll be worth it in the long run.
#homebuying #homeequity #keepingcurrentmatters
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Data Sourceshttps://www.fanniemae.com/research-and-insights/surveys-indices/home-price-expectations-survey-hpes
How Home Equity Can Help Fuel Your RetirementIf retirement is on the horizon, now’s the time to start thinking about your next chapter. And you probably want to make sure you’re set up to feel comfortable financially to live the life you want in retirement.
What you may not realize is you likely have a hidden goldmine of cash you’re not thinking about — and that’s your home. Data from the Federal Housing Finance Agency (FHFA) shows that home values have gone up nearly 60% over the last 5 years alone (see graph below):
And that appreciation gave your net worth a big boost. According to Freddie Mac, over the same five-year period:
“ . . . Boomer overall wealth increased by $19 trillion, or $486,000 per household, half of which is due to house price appreciation.”
So if you’ve been in your house ever longer than that, chances are you have even more equity in your home. If you want to have access to more of the wealth you’ve built up throughout the years, it’s worth thinking about selling your house to downsize.
Why Downsizing Might Be the Right MoveSelling now so you can downsize into a smaller home, or maybe one in a more affordable area, could free up your home equity so you can use a portion of it to help you feel confident retiring. Whether you want to travel, spend more time with family, or just feel financially secure, accessing the equity in your home can make a huge difference. As Chase says:
“Retirement is an exciting time. Selling your home to take advantage of the equity or to downsize to a more affordable home can open up additional options for your future.”
Here are just a few of the ways a smaller home can fuel your retirement:
1. Cut Your Cost of Living
Data from the AARP shows the number one reason adults 50 and older move is to reduce their cost of living. Downsizing to a smaller house or relocating to a more affordable area can help you lower your monthly expenses — like utilities, property taxes, and maintenance costs.
2. Simplify Your Life
A smaller home often means less upkeep and fewer responsibilities. That can free up your time and energy to focus on the things that matter most in your retirement.
3. Boost Your Financial Flexibility
Selling your current house gives you access to your equity, turning it into cash you can use however you like. Whether it’s investing, paying off debt, or creating a financial cushion, it can open up new opportunities for your future.
The First Step Toward Your Next ChapterIf you think you may be interested in downsizing, working with a real estate agent is your next step. Your agent will help you understand how much equity to have and how you can use it. But they’ll do more than that. They’ll also help you navigate the entire process of selling your current home and finding a new one, so you can transition smoothly into a new home and a new phase of life.
Bottom LineIf you’re planning to retire in 2025, now may be the perfect time to downsize and unlock the equity you’ve built up in your home. Let’s start planning your move now, so you’re set up to make every day feel like a Saturday.
Two Resources That Can Help You Buy a Home Right NowA recent report from Realtor.com says 20% of Americans don’t think homeownership is achievable. Maybe you feel the same way. With inflation driving up day-to-day expenses, saving enough to buy your first home is more of a challenge. But here’s the thing. With the right resources and help, you can still make it happen.
There are options that can help make buying a home possible today — even if your savings are limited or your credit isn’t perfect. Let’s explore just two of the solutions that could help get you into your first home no matter the market.
1. FHA LoansIf your down payment savings and your credit score aren’t where you want them to be, an FHA loan could be your pathway to buying a home. According to the U.S. Department of Housing and Urban Development (HUD) and Bankrate, the big perks of an FHA home loan are:
Lower Down Payments: They typically require a smaller down payment than conventional loans, sometimes as low as 3.5% of the home’s purchase price.
Lower Credit Score Requirements: They’re designed to help buyers with credit scores that might not qualify for conventional financing. This means, when conventional loans aren’t an option, you may still be able to get an FHA loan.
The first step is to connect with a lender who can help you explore your options and determine if you qualify.
2. Homeownership Assistance ProgramsAnd if you need a more budget-friendly down payment, that’s not your only option. Did you know there are over 2,000 homeownership assistance programs available across the U.S. according to Down Payment Resource? And more than 75% of these programs are designed to help buyers with their down payment. Here’s a bit more information about why these could be such powerful tools for you:
Financial Support: The average benefit for buyers who qualify for down payment assistance is $17,000. And that’s not a small number.
Stackable Benefits: To make it even better, in some cases, you may be able to qualify for multiple programs at once, giving your down payment an even bigger boost.
Rob Chrane, CEO of Down Payment Resource confirms a little-known fact:
“Some of these programs can be layered. And so, in other words, you may not be limited to just one program.”
If you want to learn more or see what you qualify for, be sure to lean on the pros. A trusted real estate agent and a lender can guide you through the process, explain the help that’s out there, and connect you with resources to make buying a home a reality.
Bottom LineIf you’re ready to stop wondering if buying a home is possible and start exploring solutions, let’s connect.
