With current interest rates and inflation pressures, some first-time buyers are pooling resources with a friend to buy a home. We discuss the financial benefits of splitting the costs of the home purchase as well as subsequent upkeep and repair of the home as well as the need to determine up front what happens when one party is ready to move out and the tough questions you need to address to be sure you and your friend are a good fit for co-home ownership.
We discuss what first-time homebuyers need to know to navigate the current market that has them facing rising home values, rising interest rates, low inventory and competition among other buyers. We share what type and price point of homes may be easier to find and why fall may be an especially good time for buyers. We also talk about how empty nesters are influencing the market impacting first-time buyers.
Guest Forrest Wall, CEO of Homebuilders Association of Michigan, joins us to discuss the Parade of Homes happening in SE Michigan showcasing 41 model and pre-construction homes. We also talk about the popular trends buyers want in homes, what has new permits down over last year, what state and local government can do to entice more new construction and other factors impacting the building industry.
When a couple decides to divorce, the home becomes an important asset to be addressed. We discuss the importance of all parties working together to yield as much financial value as possible, how the courts may get involved if things stagnate, and the potential financial impact to the parties if they stop paying the mortgage.
Saving for the down payment on a home is one of the most challenging parts to home ownership, especially for first-time buyers. We discuss some of the down payment assistance programs available and why it is important that you be open with your agent about situation so they can help recommend lenders and sources right for you. We also discuss tips to help buyers get their offer accepted in our current competitive market conditions.
The Super Bowl kicks-off the real estate season. As more buyers are starting to look for homes and enter the market, we share tips on what buyers need to do to be prepared and when concessions can be helpful to get you a home.
Fall is an important time to take care of your home to prepare it for the harsh winter season to come. From cleaning gutters to draining and turning off exterior faucets we review the things you should be reviewing on the exterior of your home. With all the storms we had this summer, it is important to check the roof and siding now to look for any lose or damaged shingles and siding. On the interior of the home, we talk about preparing the furnace for efficient use, what to look at when it comes to your windows and doors and what you need to review in the attic.
Homeowners insurance is one of those things we only think about when the premiums come due. That is, until something happens to your home and you need to file a claim only to discover something you thought would be covered is not covered at all. In this episode, we debunk 7 common myths about homeowners insurance including whether flood damage and mold are covered, whether everything in your home is covered, and who is responsible to file a claim if your neighbors tree falls in your yard. We also discuss if this insurance is required by law, if bundling is always the best option and if your coverage should match your home value.
The cost of room and board at college and universities continues to climb. Add to that the complications that Covid have brought to group living on a college campus and you may be considering buying a condo or home for your college student a possible solution. We discuss the timing of making a purchase (you should be looking at year out from when you need the property), location as it relates to where the student will be spending time on campus versus purchase price and whether you will want to use a property management company to maintain things.
Whether it’s the result of a storm or burst pipe, when your basement floods you are left with a mess to clean up. Taking quick action can help minimize the amount of damage and prevent mold and mildew and we share 9 key things you need to do. Starting with making sure your basement is safe to enter by turning off any power to removing the water, drying things out and reviewing the exterior of your home to prevent future issues we share tips from experts to help you act quickly.