Thursday, February 27, 2025 / by Vic Markarian
Are you having a hard time finding the right home in your budget? Or maybe you already own a home but could use some extra income or a designated space for aging loved ones. Either way, accessory dwelling units (ADUs) could be the smart solution you’ve been looking for in today’s market.
What Is an ADU?
According to Fannie Mae, an ADU is a small, separate living space that’s on the same lot as a single-family home. It must include its own areas for living, sleeping, cooking, and bathrooms independent of the main house. And they can take shape in a few different ways. Fannie Mae adds, an ADU can be:
Within a main home, such as a basement apartment
Attached to a main home, such as a living area over a garage
Detached from the home entirely; it could even be a manufactured home
The Benefits of ADUs
ADUs are growing in popularity as more people discover why they’re so practical. In fact, a recent surk ...
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Thursday, February 20, 2025 / by Vic Markarian
After years of suburban and rural migration during the pandemic, cities have been making a comeback in the past couple of years. According to the National Association of Realtors (NAR), the percentage of people moving to cities has risen to 16%. While that may not sound like a big number to you, it is the highest level in a decade – and that’s a big deal (see graph below):
And data from BrightMLS seems to confirm this trend. In a recent survey, 1 in 5 (20.6%) people looking to buy say they want to live in the city.
So, what’s behind this ongoing shift back to urban living? Let’s break down the top three reasons why people are trading quiet suburbs for bustling cityscapes. You may find out you want to sell your house with a big yard and move to an urban oasis, too.
1. Vibrant Culture
Cities have always been hubs of culture, entertainment, and community. They’re packed with energy and there are always endles ...
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Thursday, February 13, 2025 / by Vic Markarian
If you’re like a lot of aspiring homebuyers, there’s a major hurdle standing in your way — the cost of living. From groceries to gas, eggs, and just about everything else, prices have gone up. And that rings true for home prices, too.
But even when everything feels expensive, there are still ways to make homeownership more than an item on your wish list. You may just need to think about where you plan to buy a bit differently.
Think of Your First Home as a Stepping Stone
One of the biggest misconceptions among buyers is that their first home has to be their forever home – or that it has to check all the boxes of what they want right out of the gate. In reality, it’s just a starting point.
Once you own a home, you start to build equity, which grows over time as home prices rise. Down the road, if you want to move — whether to a larger space, a better location, or both — the equity you’ve gained can ...
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Thursday, December 26, 2024 / by Vic Markarian
There’s no doubt that owning a home comes with significant financial benefits. And this time of year is a great time to reflect on the other reasons why owning a home is so meaningful.
A house is more than four walls and a roof – it’s a place where memories are made, connections are built, and life happens.
From the sense of accomplishment that comes with owning your own home to the joy of creating a space that’s uniquely yours, the emotional connections we have to our homes can be just as important as the financial ones.
Here are some of the things that turn a house into a happy home.
1. It’s an Accomplishment You Can Be Proud Of
Buying a home is a significant milestone, whether it’s your first or your fifth. You’ve worked hard to make it happen and achieving this goal is a reason to celebrate. There’s nothing quite like stepping through the door of a home that’s yours and knowing you’ve accomplished somethink ...
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Tuesday, November 26, 2024 / by Vic Markarian
Buying a home in today’s market can feel like an uphill battle – especially with home prices and mortgage rates putting pressure on your budget. If you’re feeling stuck, co-buying could be one way to help you get your foot in the door. Freddie Mac says:
“If you are an aspiring homeowner, buying a home with your family or friends could be an option.”
But there are some things you'll want to consider first. Let’s explore why co-buying is gaining popularity right now among some buyers and see if it may make sense for you too.
What Is Co-Buying?
Co-buying means buying a home with someone like a friend, sibling, or even a group of people. And, with today’s high home prices and mortgage rates, it’s an option more people are turning to.
According to a survey done by JW Surety Bonds, nearly 15% of Americans have already co-purchased a home with someone, and another 48% would consider d ...
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