things for home buyers and sellers to consider in 2024

5 Things for Home Buyers and Sellers to Consider in 2024

Posted on

Does 2024 include a big move for you? From first-time buyers to seasoned investors, here’s a list of five things for home buyers and sellers to consider in 2024 to better prepare them for the real estate journey ahead.

Interest and mortgage rates.

It’s always a good idea for potential home buyers and sellers to keep an eye on interest and mortgage rates. Since October 2023, mortgage rates have begun to steadily decline from 8% to 7–6%. But rates will most likely remain volatile.

Experts suggest paying attention to the Federal Reserve’s interest rate decisions for a hint at where mortgage rates are going in 2024. 

The long-term value of owning a home. 

Homeownership is one of the most reliable and quickest ways to build wealth for a variety of reasons. First of all, it stabilizes a homeowner’s housing expenses with fixed monthly payments. Second of all, as you continue to pay off your mortgage loan, you build equity in the home.

Hence, you add value to your net worth.

Think about what you need versus what you would like. 

Whether you are a first-time home buyer or you’ve done it before, figuring out your needs versus what you want helps you narrow your search. And, from there, you can begin adding on those wants. 

Industry experts have predicted that a few of those key features for 2024 include sustainability, luxury amenities and seamless outdoor-indoor living spaces. 

Calculate your budget. 

Knowing your budget is not a new idea, but it remains one of the top things for home buyers and sellers to consider in 2024. In general, designating about 25% of your net income toward a mortgage payment is a good rule of thumb. 

It’s a good idea to work with your local Realtor or mortgage lender to help calculate your budget. 

Working with an experienced local Realtor. 

Finally, when it comes to things for home buyers and sellers to consider in 2024, working with a knowledgeable local expert is key. In terms of finding the right Realtor for you, talk to a few different Realtors. Ask them questions, read their reviews and ask about their rates and fees, for example.

If you aren’t sure where to start when it comes to finding a Realtor in Lee County, our member search offers a listing of Realtors, real estate offices, affiliates and more. 

Summary

A new year goes hand-in-hand with new possibilities and opportunities, and that includes investing in real estate. Become more familiar with our local market and the opportunities ahead by connecting with us on Facebook, Instagram and LinkedIn, where we share local statistics, insights and more. For more buying and selling tips, local news and trends, continue to read our blogs. 

safety tips for homeowners and buyers

7 Safety Tips for Homeowners and Buyers

Posted on

Whether you’ve lived in your home for years or just moved in, review these seven safety tips for homeowners and buyers to better protect your family and property.

Research an area before you buy a home.

A good place to start when it comes to researching a city you may move to is with a local expert, like a Realtor. They will have the knowledge and resources readily available to help you find a neighborhood and home you will feel comfortable in.

You can also find helpful search tools, data, tips and more with online resources like SafeWise, for example.

Get to know your neighbors.

This is one of the safety tips for homeowners and buyers that is also good for your social life! In general, neighbors who get to know each other tend to look out for each other.

Not only is a sense of community created among friendly neighbors, but it also creates a safety network. Your neighbors could be the first ones to notice if something isn’t quite right, including signs of a fire or unfamiliar faces roaming around your home.

Stay diligent with your home security.

Staying safe does take a little effort. For instance, it’s a good idea to keep windows and doors locked while you are home or away. Ask your neighbors to keep an eye on your property if you are going out of town.

Leave a light on, whether you are home or away. Another good safety tip is to keep your location secure by not tagging it on social media accounts when you are on vacation or just out and about around town.

Improve the lighting around your house.

This is a simple, yet effective home safety tip. Consider adding more outdoor lights to protect your property. Options include motion-sensor lights and automated lights connected to your home security system.

Store hazardous materials safely.

From cleaning supplies like laundry pods to gasoline for the lawn mower, remember to safely store any chemicals and hazardous materials away from children and pets.  

Test your smoke and carbon monoxide detectors.

As soon as you move in, walk through your new home and find all of the smoke and carbon monoxide detectors. If there aren’t any carbon monoxide detectors, consider adding a few.

After finding the detectors, double check the batteries or go ahead and replace them. Remember to check all your smoke and carbon monoxide detectors regularly.

Work with a Realtor.

Finally, when it comes to safety tips for homeowners and buyers, working with a Realtor is a good place to start! Think of local Realtors as your local experts in terms of home security and community safety. Oftentimes, they can connect you with additional community resources.

Summary

Are you asking yourself where to start when it comes to finding that local expert in Lee County? Start with us! You can search for Realtors, find other community resources and learn more about the local real estate market by reading our blogs.