Sunrise Homes & Renovations, Inc.

Can’t Find a House You Love? Consider These Creative Options

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Searching for the perfect home can be frustrating when nothing seems to check all your boxes. Whether it is location, price, size, or style, the market may not always have exactly what you want at the moment. The good news is there are creative strategies you can explore to find a home that works for you, even if it is not exactly what you initially imagined.

Expand Your Search Area
Sometimes the ideal neighborhood might be just outside your initial target area. By widening your search radius, you could discover hidden gems in nearby communities that offer great value and lifestyle benefits. Exploring up-and-coming neighborhoods or adjacent towns can open up new possibilities that better fit your budget and preferences.

Consider a Fixer-Upper
A home that needs some work might feel intimidating at first, but it also offers the chance to customize and build equity quickly. Many buyers overlook fixer-uppers because of renovation concerns, but with the right plan and team, you can transform a property into your dream home. Financing options that include renovation loans can help make this a viable choice.

Look Into New Construction
If resale homes are limited, new construction might be an option to consider. Buying a newly built home often means fewer repairs and modern features, with the chance to select finishes and layouts. Although the timeline may be longer due to the building process, new homes can offer energy efficiency and warranty protections that older homes do not.

Explore Lease-to-Own or Rent-to-Own
If you are not ready to buy immediately, lease-to-own or rent-to-own arrangements can be creative alternatives. These options allow you to rent a home with the possibility of purchasing it later, giving you time to save more for a down payment or improve your credit. Make sure to review contracts carefully and work with a knowledgeable agent.

Think About Buying Land and Building
For buyers open to a longer process, purchasing land and building a custom home can be a rewarding option. It allows complete control over design and features, though it requires patience and coordination with builders and lenders. This route is ideal for those who want a truly personalized living space.

Work With a Skilled Real Estate Agent
A trusted agent can offer valuable insights, access to listings before they hit the market, and creative strategies tailored to your goals. By sharing your priorities clearly, you empower your agent to find options you might not have considered and negotiate effectively on your behalf.

Finding the right home sometimes requires thinking outside the box. By exploring these creative options and working with an experienced real estate professional, you can increase your chances of discovering a home that fits your lifestyle and budget, even when the perfect listing is elusive.

What’s Ahead For Mortgage Rates This Week – August 18th, 2025

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This marks the first release of CPI and PPI data since the recent reduction in data collection that is used to determine the current inflation. The Producer Price Index has shown quite clearly that there has been the biggest whole price jump in the last 3 years, showing that the administration’s policies on tariffs are having an impact. The CPI has shown a similar increase in inflation, but still within expectations in lieu of the current tariff policies. 

There is still data to be collected, with some speculation that the Federal Reserve may implement rate cuts in the future. Consumer sentiment has also shown increased concern regarding inflation and unemployment statistics, as trends have worsened following the tariff changes, leading to a three-month low in consumer sentiment.

Consumer Price Index
A key measure of consumer prices posted the biggest increase in July in six months, suggesting inflation is showing upward pressure from tariffs but maybe not enough to deter the Federal Reserve from cutting interest rates soon. The so-called core rate of the consumer price index rose 0.3% in July to mark the biggest increase since the first month of the year. The core rate omits food and energy and is a better predictor of future inflation.

Producer Price Index
The cost of wholesale goods and services—where rising inflation tends to show up first—posted the biggest increase in July in three years, possibly heralding a sizable acceleration in price hikes tied to U.S. tariffs. The producer-price index jumped 0.9% last month after no change in June, the government said Thursday. The surge was a big surprise to Wall Street.

Consumer Sentiment
Fresh worries about inflation soured Americans on the economy in early August, underscoring lingering anxiety about the highest U.S. tariffs in decades and a further rise in unemployment. The first reading of the consumer-sentiment survey in August dropped to a three-month low of 57.2 from 61.8 in July, the University of Michigan said Friday.

Primary Mortgage Market Survey Index

  • 15-Yr FRM rates saw a decrease of -0.04% with the current rate at 5.71%
  • 30-Yr FRM rates saw a decrease of -0.05% with the current rate at 6.58%

MND Rate Index

  • 30-Yr FHA rates saw an increase of 0.03% this week. Current rates at 6.18%
  • 30-Yr VA rates saw an increase of 0.03% this week. Current rates at 6.19%

Jobless Claims
Initial Claims were reported to be 224,000 compared to the expected claims of 229,000. The prior week landed at 226,000.

What’s Ahead
FOMC Minutes will give an indication where the Federal Reserve decides to still hold their “wait-and-see” approach. This will be followed by the PMI Manufacturing and Services data, relevant to the tariff changes.

Understanding the Importance of a Home Warranty

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Buying a home is one of the biggest financial investments you’ll ever make, so it’s important to protect that investment in every way possible. One way to provide protection is by purchasing a home warranty. While not required, a home warranty can offer peace of mind by covering the costs of repairing or replacing essential systems and appliances in the home. Understanding the importance of a home warranty can help you decide whether it’s the right choice for you as a homeowner.

What Is a Home Warranty?
A home warranty is a service contract that covers the repair or replacement of home systems and appliances that may break down due to normal wear and tear. It typically includes items such as HVAC systems, plumbing, electrical systems, kitchen appliances, and more. Unlike homeowners insurance, which covers damage from events like fire or theft, a home warranty focuses on fixing and replacing components that simply stop working or break down over time.

Why is a Home Warranty Important?

  1. Financial Protection Against Unexpected Repairs
    One of the biggest reasons homeowners opt for a home warranty is to protect themselves from unexpected repair costs. Household systems and appliances can fail without warning, and the cost to repair or replace them can be substantial. For example, a new air conditioning unit can cost thousands of dollars to replace. A home warranty can help mitigate these costs by covering repairs or offering replacements, saving you from having to pay out of pocket for expensive services.
  2. Convenience and Peace of Mind
    A home warranty can also provide convenience by connecting you to a network of trusted contractors and service providers. If an appliance or system breaks down, you simply contact the home warranty company, and they will coordinate the repair or replacement. This can save you time searching for reliable professionals and handling the stress of scheduling and payments. Knowing that you have coverage for potential breakdowns allows you to enjoy your home without worrying about the unexpected costs of repairs.
  3. Increased Home Value and Appeal
    For sellers, offering a home warranty can make your property more attractive to potential buyers. A home warranty can provide reassurance to buyers that they won’t be burdened with costly repairs after moving in. For buyers, the assurance of a home warranty can be a deciding factor, especially if the home is older and systems may be near the end of their lifespan. A home warranty can offer peace of mind, knowing that any major system failures will be covered.
  4. Budgeting for Home Repairs
    While home warranties do come with a cost, they can help homeowners better budget for potential repairs by providing predictable, low-cost service fees. Instead of paying large, unexpected amounts for repairs, you’ll pay an annual or monthly fee for the warranty and a small service fee when you need a repair. This can make managing the maintenance of your home easier, especially for first-time homeowners who may not have a large emergency fund set aside.

What Does a Home Warranty Typically Cover?
The coverage provided by a home warranty depends on the plan and the company, but generally, it covers:

  • Major appliances: Refrigerators, dishwashers, washers, dryers, stoves, etc.
  • Home systems: HVAC systems, plumbing, electrical systems, water heaters, and more.
  • Optional coverage: Some home warranties offer optional add-ons to cover pools, spas, septic systems, or other unique needs.

It’s important to read the terms of the warranty carefully to understand what’s covered and what’s excluded. For example, some warranties may not cover pre-existing conditions or damages caused by neglect.

What Are the Limitations of a Home Warranty?
While a home warranty offers many benefits, it’s important to understand its limitations. First, there may be exclusions, such as coverage for damage caused by improper maintenance or misuse. Additionally, a home warranty may only cover specific models or brands of appliances or systems, so it’s important to confirm that the items in your home are eligible for coverage.

Another consideration is the service fee that must be paid each time you request a repair. This fee can range from $50 to $100 or more, and while it’s often lower than the cost of a repair, it can add up over time if you need multiple services. Additionally, if a repair is not covered by the warranty or is deemed too expensive to repair, you may still be responsible for the full cost of a replacement.

A home warranty can be a valuable tool for homeowners looking to protect their investment and avoid the financial strain of unexpected repairs. By covering the cost of repairs and replacements for essential home systems and appliances, a home warranty provides peace of mind and convenience. Whether you’re buying a new home, selling a property, or simply want added protection, understanding the importance of a home warranty can help you make an informed decision about safeguarding your home.

How to Invest in Real Estate with a Limited Budget

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Investing in real estate is often seen as a venture for those with significant capital, but that’s not always the case. Even with a limited budget, there are still opportunities to enter the real estate market and start building wealth. Whether you’re looking for passive income or long-term gains, here are some strategies to consider for investing in real estate on a budget.

  1. Start with a House Hacking Strategy
    House hacking is one of the most popular strategies for real estate investment when you’re on a limited budget. It involves buying a multi-unit property, such as a duplex, triplex, or fourplex, living in one unit, and renting out the others. The rental income from the other units can help cover your mortgage and even generate additional income. This strategy allows you to start building equity in a property while keeping your living expenses low.

    If you’re not ready for a multi-unit property, house hacking can also work with single-family homes by renting out extra rooms. While this option won’t generate as much income as renting out entire units, it still offers a way to offset housing costs.

  2. Look for Properties in Undervalued Areas
    Location plays a significant role in real estate investments, and choosing the right area is key to making a profitable investment. If you’re working with a limited budget, consider looking for properties in up-and-coming or undervalued neighborhoods. These areas may have lower property prices but the potential for growth in the future.

    By investing in these neighborhoods early, you can benefit from property value appreciation as the area develops. Pay attention to factors like local infrastructure projects, new businesses, and improving schools, which can all indicate that a neighborhood is on the rise.

  3. Consider Real Estate Investment Trusts (REITs)
    If you’re not in a position to buy property directly, Real Estate Investment Trusts (REITs) provide an alternative way to invest in real estate with a limited budget. REITs allow you to invest in a diversified portfolio of real estate properties, such as apartment buildings, shopping centers, and office buildings, without the need to buy and manage physical properties yourself.

    REITs are traded on major stock exchanges, making them accessible to investors with small amounts of capital. Many REITs also pay dividends, providing a steady income stream, and they can be a great way to gain exposure to the real estate market without the high upfront costs.

  4. Look for Foreclosures or Auctions
    Foreclosed homes and properties sold at auction can be a way to acquire real estate below market value. Lenders and government agencies often sell foreclosed properties at a significant discount in order to recoup their losses. Auctions can also be a source of good deals, though it’s important to do thorough research before bidding on any property.

    Keep in mind that buying foreclosed properties or auction homes often comes with risks, such as hidden repair costs or legal complications. However, with proper due diligence, you can find properties that offer good returns on investment for a lower price.

  5. Partner with Other Investors
    If your budget is too limited to purchase a property on your own, consider partnering with other investors. Joint ventures allow you to pool your resources and share the costs and responsibilities of the investment. This can be a win-win situation, as you get access to larger and more lucrative properties, while the financial burden is spread among multiple investors.

    Before entering into a partnership, it’s important to clearly define each partner’s roles, contributions, and expectations. Having a legal agreement in place can help avoid conflicts down the line.

  6. Explore Seller Financing
    Seller financing is another way to invest in real estate with little upfront capital. In a seller-financed deal, the seller acts as the lender and you make monthly payments directly to them instead of securing a traditional mortgage from a bank. This can be an attractive option for buyers with limited credit or insufficient funds for a large down payment.

    Seller financing can also allow for more flexible terms, such as lower interest rates or a smaller down payment, making it an appealing option for those working with a tight budget. Be sure to have a professional involved to help negotiate the terms and ensure the deal is structured correctly.

  7. Leverage Government Programs for First-Time Homebuyers
    For first-time homebuyers, there are various government programs available that can help reduce the financial burden of purchasing a property. These programs typically offer lower down payment requirements, favorable interest rates, and even down payment assistance. By taking advantage of these programs, you can enter the real estate market with a smaller initial investment.

Investing in real estate with a limited budget is entirely possible if you approach it strategically. Whether you start with house hacking, invest in REITs, or explore opportunities like seller financing or foreclosures, there are many ways to get your foot in the door. By being creative, doing your research, and partnering with the right professionals, you can begin building wealth through real estate without a large upfront investment.

Tips for Buying a Home with a Shared Driveway

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When buying a home, many factors need to be considered, and one that may not always come to mind right away is the driveway. If you’re looking at a property with a shared driveway, it’s important to understand how this shared space can affect your experience as a homeowner. While a shared driveway can be an attractive feature in some situations, it can also present challenges. Here are some tips to keep in mind when buying a home with a shared driveway.

Understand the Terms of the Shared Agreement
Before moving forward with purchasing a home with a shared driveway, it’s essential to fully understand the terms of the agreement between you and the other property owners. Is there a formal easement in place that grants you legal access to the driveway? If so, what are the specifics of that easement? Some shared driveways are governed by written agreements, while others may be informal, making it crucial to review any legal documents related to the property. A real estate attorney can help you confirm the terms of the agreement and ensure your rights are protected.

Clarify Maintenance Responsibilities
One of the biggest concerns with a shared driveway is maintenance. Who is responsible for maintaining the driveway? Is there a shared cost for repairs, snow removal, or other upkeep? It’s essential to clarify these responsibilities before buying the property. You want to make sure that both parties are on the same page about how repairs will be handled and who will cover the costs. If maintenance duties are not clearly defined, it could lead to disagreements down the line.

Check for Access and Parking Issues
When you share a driveway, access and parking can become a source of frustration if not carefully managed. Are there any issues with parking that could affect your ability to use the driveway? For instance, will you have dedicated space to park your vehicles, or will you need to coordinate parking with the other property owner? It’s important to consider these practical aspects before purchasing. Be sure to walk through the driveway area during different times of day to ensure there won’t be any accessibility or parking issues that could affect your lifestyle.

Discuss Dispute Resolution
Despite your best efforts to get along with neighbors, conflicts can arise, especially when it comes to shared spaces. For this reason, it’s wise to discuss and agree on a method of dispute resolution. If there’s a disagreement about maintenance, use, or parking, how will it be resolved? Having a clear understanding of how disputes will be handled can prevent issues from escalating and protect you from potential legal complications.

Consider the Impact on Resale Value
Homes with shared driveways can sometimes present challenges when it comes to resale value. While some buyers may be perfectly comfortable with a shared driveway, others may see it as a negative. It’s important to consider how this shared space may impact the marketability of the property in the future. If you plan on reselling the home later, having clear documentation of the driveway agreement and maintenance responsibilities can help ease concerns for potential buyers.

Get Everything in Writing
Finally, to avoid future disputes or misunderstandings, make sure all agreements related to the shared driveway are documented in writing. This includes parking rights, maintenance responsibilities, and any restrictions on how the driveway can be used. Having these terms clearly outlined in writing provides legal protection and ensures that both parties understand their rights and obligations.

Buying a home with a shared driveway can be a great option, especially if you’re in a desirable location or want to save on property costs. However, it’s essential to be proactive and understand the legal, practical, and logistical aspects involved. By doing your due diligence and ensuring everything is properly documented, you can enjoy a smooth experience with your shared driveway.

Understanding the Process of Selling a Home Through Probate

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Selling a home through probate can seem complicated, especially when you’re grieving the loss of a loved one. However, understanding the process can help alleviate some of the stress and ensure the sale goes smoothly. Probate is the legal process through which a deceased person’s estate is administered, and it includes the distribution of assets, including real property. If you’re the executor of an estate or a beneficiary, selling a home through probate requires following certain legal steps and working with the right professionals to ensure everything is handled correctly.

What Is Probate?
Probate is a court-supervised process where a deceased person’s assets are inventoried, debts are paid, and property is distributed according to the terms of their will or, if there is no will, state law. The probate process can take several months, sometimes even longer, depending on the complexity of the estate. During this time, the home may need to be sold to pay off outstanding debts or to distribute the proceeds among heirs.

Steps to Selling a Home Through Probate

  1. Appointing the Executor or Administrator
    The first step in the probate process is appointing an executor or administrator, if one has not already been named in the will. This person is responsible for managing the estate, including selling any property. If the deceased person did not have a will, the court will appoint an administrator, typically a close family member, to manage the process.
  2. Probate Court Approval
    Before selling a property in probate, the sale usually needs to be approved by the probate court. This is an important step, especially if the sale price is lower than the appraised value or if the home is being sold to an interested party who may have a conflict of interest. The court will ensure that the sale is fair and in line with the deceased person’s wishes. In some cases, this approval can take several weeks or even months.
  3. Real Estate Agent’s Role
    Working with a real estate agent experienced in probate sales can be invaluable. They will guide you through the entire process, from pricing the home to handling negotiations and ensuring that the sale is compliant with state and court requirements. An experienced agent can also help you navigate the legalities, provide access to qualified buyers, and offer advice on how to best market the property for a timely sale.
  4. Preparing the Home for Sale
    Once the court has approved the sale, the home should be prepared for listing. This may involve cleaning, repairing, or staging the home to ensure it’s appealing to potential buyers. Depending on the condition of the property, you may need to invest in repairs or cosmetic upgrades. If the deceased person’s belongings remain in the home, these should be cleared out before listing it for sale.
  5. Sale and Distribution of Proceeds
    Once an offer is accepted, the sale must be presented to the probate court for final approval. Once the sale is approved, the property can be sold, and the proceeds will be distributed according to the instructions in the will or as required by state law. The proceeds may be used to pay off any remaining debts or be divided among the beneficiaries.

Challenges to Selling a Home Through Probate
While selling a home through probate can be a straightforward process, there are challenges to consider. The probate court’s involvement can slow down the sale process, and the home may need to be sold as-is, without the ability to make significant improvements. Additionally, if there are disputes among family members or heirs, it can complicate the sale and delay closing.

Selling a home through probate requires patience and attention to detail. Working with a knowledgeable real estate agent and a probate attorney can help you navigate the legal requirements and ensure the sale is completed smoothly. Whether you’re the executor or a beneficiary, understanding the probate process and the steps involved in selling a home can help you make informed decisions and manage the sale with confidence.