Sunrise Homes & Renovations, Inc.

  • Home
  • About
    • About Us
    • Recognition
      • Disaster Contractors Network
      • US EPA Certified
    • Accessibility Statement
  • Example Models
  • Renovations
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • Blog
  • Contact

Want To Buy A Home? Here’s How You Can Save Your Own Down Payment

September 7, 2018 by Rhonda Costa

Want To Buy A Home? Here's How You Can Save Your Own Down PaymentBurdensome student loan debt and a penchant for purchasing new electronics by 20- and 30-somethings can make saving up for a down payment on a home seem impossible. But Millennials and other potential home buyers may be surprised to discover that previous generations had money-saving challenges of their own.

Consider for a moment that many of our valued elders did not have the level of opportunity to attend college and earn a high-paying job. Look further back and you may realize that the Greatest Generation suffered through the Great Depression only to fight World War II.

Somehow, these outstanding Americans found a way to save money and become homeowners. So can you. By employing these money management techniques, you can cull together a down payment and still enjoy the latest gizmo.

Do The Math On Savings

It doesn’t make a great deal of sense to mindlessly squirrel money away without a comprehensive savings plan.

First steps should include discussing your pre-approval limit with a mortgage professional. By knowing your mortgage threshold, you will be able to work backwards and calculate a down payment amount.

One tried-and-true savings approach remains the 20-30-50 financial disbursement method. Structure your spending so that 20 percent of your earnings are going directly into debt reduction or savings. Approximately 30 percent should cover rent and the other 50 percent can be allotted for incidentals.

Make certain the 20 percent consistently finds its mark each month. Once you have cleared out the debt and are going full-bore on saving for a down payment, it can be motivating to watch your goal become a reality.

Eliminate High-Interest Debt

According to reports, the average American carried upwards of $6,375 in credit card debt during 2017. Folks, that is simply too much to effectively save money for a home down payment.

The high interest rates everyday people incur from credit card debt remains a significant impediment to saving money. If you have several cards with high balances, there is no quick fix to this problem. It will fall on you to be disciplined and methodical about paying them off.

Start with the card that charges the highest interest rate and work diligently to eliminate its balance entirely. Once you clear out the worst interest-rate offender, move on to the second worst. As these debts fall, you will have an opening to shuffle funds into your down payment savings account. We call that winning.

Pick Up Part-Time Gigs

The down payment effort can be accelerated by creating an additional revenue stream.

A few years back, the idea of the “gig economy” was trending. Stringing together a series of short-term and part-time jobs was considered cool. Although the so-called gig economy may have been the byproduct of a business sluggishness, such is no longer the case.

These days, unemployment is at record lows and employers are chomping at the bit to hire people. Consider picking up a few hours each week doing something you enjoy. It could entail anything from bartending to working as a coffee house barista. Make it fun and make certain the money goes only toward your home down payment. Talk about a win-win.

With strategic financial planning, people of all walks of life can earn the American homeownership dream. It’s time to stop thinking about the generational obstacles. Adapt, overcome and make it happen.

Your trusted real estate agent is skilled at finding great real estate investments. Be sure to use this valuable resource when you are ready to find the home of your dreams.

Filed Under: Real Estate Tagged With: Down Payment, Real Estate, Save Money

Creative Storage Tips When Downsizing Your Home

September 6, 2018 by Rhonda Costa

Creative Storage Tips When Downsizing Your HomeDownsizing at any stage of life can offer multiple benefits. Less square footage may come with a smaller price tag and usually means less space to clean. However, when downsizing a home, there’s usually the question of what to do with everything. That’s when creative storage ideas become essential. 

Before Downsizing, Take Stock

Before selecting the best storage options, it’s important to first take stock of all personal items, from furniture to clothing, kitchen gadgets, and keepsakes. Sort into items to keep, donate, discard, and place in long-term storage. Long-term storage may mean investing in a self-storage unit to hold things like seasonal decor. Less stuff can mean less storage space needed in a smaller home.

Maximize Closet Space

It doesn’t need to be a walk-in closet to have the capacity to store an array of personal items. Maximize any closet’s storage space with a few tricks. Install a second tier hanging rod and rely on an expandable shoe rack to keep the floor clutter-free. Reduce the number of hangers used by layering outfits on a single hanger — blouse, sweater, and necklace or dress shirt, tie, and jacket. Store seasonal clothing, linens, and pillows in space-saver bags that remove bulk.

Rely On Under-the-Bed Storage

Even in homes with expansive square footage, under the bed often is an under-utilized space. Shoes, books, and other items are shoved out-of-sight, collecting dust and remaining unorganized. When downsizing, every space should have a purpose. Depending on the bed height, consider flat storage boxes ideal for clothing, blankets, and other items. Storage boxes with rollers can make it easy to access and act like an additional set of drawers.

Choose Space-Saving Furniture

The popularity of tiny houses and the number of people downsizing has created a boom of innovative space-saving furniture options. For the living room there are ottomans that open to reveal storage space for pillows, blankets, or video cases. Consider a couch with built-in drawers that slide out. In the bedroom, there are multiple bed choices that have built-in drawers and storage, perfect if the room doesn’t have dresser space. 

Open Shelves Provide Functionality Plus Style

Whether in the kitchen, bedroom, or main living area, open shelves offer great functionality in a smaller space while providing style to the home’s decor. Use them as storage for books, collections, and artwork. They’re ideal when there isn’t space for large bookcases or a coffee table. In the kitchen, open shelves can hold everything from dishes to glassware and potted herbs.

When downsizing a home, trust a local real estate professional to find the right space to fit lifestyle and budget needs.

 

Filed Under: Real Estate Tagged With: Home Improvement, Organization, Real Estate

Creative Storage Tips When Downsizing Your Home

September 6, 2018 by Rhonda Costa

Creative Storage Tips When Downsizing Your HomeDownsizing at any stage of life can offer multiple benefits. Less square footage may come with a smaller price tag and usually means less space to clean. However, when downsizing a home, there’s usually the question of what to do with everything. That’s when creative storage ideas become essential. 

Before Downsizing, Take Stock

Before selecting the best storage options, it’s important to first take stock of all personal items, from furniture to clothing, kitchen gadgets, and keepsakes. Sort into items to keep, donate, discard, and place in long-term storage. Long-term storage may mean investing in a self-storage unit to hold things like seasonal decor. Less stuff can mean less storage space needed in a smaller home.

Maximize Closet Space

It doesn’t need to be a walk-in closet to have the capacity to store an array of personal items. Maximize any closet’s storage space with a few tricks. Install a second tier hanging rod and rely on an expandable shoe rack to keep the floor clutter-free. Reduce the number of hangers used by layering outfits on a single hanger — blouse, sweater, and necklace or dress shirt, tie, and jacket. Store seasonal clothing, linens, and pillows in space-saver bags that remove bulk.

Rely On Under-the-Bed Storage

Even in homes with expansive square footage, under the bed often is an under-utilized space. Shoes, books, and other items are shoved out-of-sight, collecting dust and remaining unorganized. When downsizing, every space should have a purpose. Depending on the bed height, consider flat storage boxes ideal for clothing, blankets, and other items. Storage boxes with rollers can make it easy to access and act like an additional set of drawers.

Choose Space-Saving Furniture

The popularity of tiny houses and the number of people downsizing has created a boom of innovative space-saving furniture options. For the living room there are ottomans that open to reveal storage space for pillows, blankets, or video cases. Consider a couch with built-in drawers that slide out. In the bedroom, there are multiple bed choices that have built-in drawers and storage, perfect if the room doesn’t have dresser space. 

Open Shelves Provide Functionality Plus Style

Whether in the kitchen, bedroom, or main living area, open shelves offer great functionality in a smaller space while providing style to the home’s decor. Use them as storage for books, collections, and artwork. They’re ideal when there isn’t space for large bookcases or a coffee table. In the kitchen, open shelves can hold everything from dishes to glassware and potted herbs.

When downsizing a home, trust a local real estate professional to find the right space to fit lifestyle and budget needs.

 

Filed Under: Real Estate Tagged With: Home Improvement, Organization, Real Estate

Creative Storage Tips When Downsizing Your Home

September 6, 2018 by Rhonda Costa

Creative Storage Tips When Downsizing Your HomeDownsizing at any stage of life can offer multiple benefits. Less square footage may come with a smaller price tag and usually means less space to clean. However, when downsizing a home, there’s usually the question of what to do with everything. That’s when creative storage ideas become essential. 

Before Downsizing, Take Stock

Before selecting the best storage options, it’s important to first take stock of all personal items, from furniture to clothing, kitchen gadgets, and keepsakes. Sort into items to keep, donate, discard, and place in long-term storage. Long-term storage may mean investing in a self-storage unit to hold things like seasonal decor. Less stuff can mean less storage space needed in a smaller home.

Maximize Closet Space

It doesn’t need to be a walk-in closet to have the capacity to store an array of personal items. Maximize any closet’s storage space with a few tricks. Install a second tier hanging rod and rely on an expandable shoe rack to keep the floor clutter-free. Reduce the number of hangers used by layering outfits on a single hanger — blouse, sweater, and necklace or dress shirt, tie, and jacket. Store seasonal clothing, linens, and pillows in space-saver bags that remove bulk.

Rely On Under-the-Bed Storage

Even in homes with expansive square footage, under the bed often is an under-utilized space. Shoes, books, and other items are shoved out-of-sight, collecting dust and remaining unorganized. When downsizing, every space should have a purpose. Depending on the bed height, consider flat storage boxes ideal for clothing, blankets, and other items. Storage boxes with rollers can make it easy to access and act like an additional set of drawers.

Choose Space-Saving Furniture

The popularity of tiny houses and the number of people downsizing has created a boom of innovative space-saving furniture options. For the living room there are ottomans that open to reveal storage space for pillows, blankets, or video cases. Consider a couch with built-in drawers that slide out. In the bedroom, there are multiple bed choices that have built-in drawers and storage, perfect if the room doesn’t have dresser space. 

Open Shelves Provide Functionality Plus Style

Whether in the kitchen, bedroom, or main living area, open shelves offer great functionality in a smaller space while providing style to the home’s decor. Use them as storage for books, collections, and artwork. They’re ideal when there isn’t space for large bookcases or a coffee table. In the kitchen, open shelves can hold everything from dishes to glassware and potted herbs.

When downsizing a home, trust a local real estate professional to find the right space to fit lifestyle and budget needs.

 

Filed Under: Real Estate Tagged With: Home Improvement, Organization, Real Estate

4 Things To Know About Homestead Exemptions

September 5, 2018 by Rhonda Costa

4 Things To Know About Homestead ExemptionsHomeowners are well aware that peripheral costs swell over time and can put a strain on incomes. Utility bills increase, home insurance creeps up annually and taxes rise with the cost of schools and road repair.

That’s why many communities have enacted homestead exemptions that can help stabilize and even lower tax bills in some cases. Although these exemptions are not well publicized, knowing how they work and how to apply could save you a good deal of money.

Understanding The Homestead Exemption

A homestead exemption helps homeowners lower and/or fix the amount you pay in local taxes. Qualifying property owners can have a portion of the assessment excluded from taxation. That allows your tax bill to be calculated at a lower rate than non-exempt properties. In some communities, full-time residents can set their annual tax bill at time of purchase or when they are granted the exemption. This has been a national trend to help our valued elders on fixed incomes such as Social Security.

Protection From Civil Lawsuits

Many states have homestead exemptions in place that protect residents from displacement. For example, if a resident has a civil judgment leveled against them, a homeowner may claim the homestead exemptions as a reason their property cannot be seized to offset the debt. In most cases, the exemption is dependent upon the amount of equity a person has accumulated. In some places, homestead exemptions set aside properties from the probate process in the event of a death. Simply put, homestead exemptions can act as a financial safeguard.

Homestead Exemption Eligibility

The exemption is generally a benefit only for the mortgage holder of a primary residence. The majority of states limit this benefit to full, free-standing homes. Some allow condominium and mobile home owners to also claim the exemption. Non-traditional homes may be limited to certain groups, including, disabled people, our valued elders or those who served in the military. The total exemption may also vary depending upon the type of property and class of citizen. Again, states recognize the need for economic stability for people on fixed incomes.

How To Claim An Exemption

Homestead exemption applications vary from state to state. In Illinois, for example, a reported fixed deduction is automatically given to all homeowners who reside in the state full time. Other states require residents to reapply each year. The process may include providing proof of ownership, full-time residency and exemption group status. The reapplication process can be tedious and serves as a deterrent against fraud. Most states require one-time application approval with simple updates, generally during assessment years.

Although homestead exemptions are generally not well known, check your local and state website for information. If you are planning on buying a home, consider homestead exemptions as a long-term cost-saving benefit. 

If you have questions about your current or future real estate investment, your trusted real estate professional is ready and available to help.

Filed Under: Real Estate Tagged With: Homestead Exemption, Real Estate, Taxes

Millennial Home Buyers: What You Need To Know

August 31, 2018 by Rhonda Costa

Millennial Home Buyers What You Need To KnowIn the past, you’ve likely read about how the Millennial generation is opting to rent rather than buy property. While this still holds true for many Millennials, the fact is that a growing number of this generation is making the leap into buying.

In fact, according to Inc., Millennials today represent the largest demographic of new home buyers, responsible for about 35 percent of all real estate purchases. (For comparison’s sake, Gen X’ers are responsible for about 25 percent of the buyer’s market.)

What’s more is the Millennial home buyers have been trending upwards for about four years now, and this trend is expected to continue beyond 2018. Noting this, it makes sense to get to know the Millennial generation and what they’re looking for in a home.

Here’s a closer look:

Straight To The ‘Forever Home’

Hampered by the Great Recession, it’s no secret that Millennials opted to rent, rather than buy, at the tail end of the 2000s. But now Millennials are ready to buy, and they’re not necessarily going for the starter home. No, they’re going right for the forever home.

This is largely because they’re now spending the money that they accrued from saving in rent or from living with their parents for all these years. Many have also moved beyond entry-level positions.

The Connected Home

It’s estimated that more than 13 million Americans currently work from home, a trend that emerged with the Millennial generation and is likely to continue. Noting this, Millennials tend to like the concept of the “smart home.” That is, they desire fast Internet service, smart thermostats and appliances, and energy-efficient features. Young professionals increasingly are working out of the home, so they want their homes to work better for them.

Low Maintenance

What else do Millennials look for in a home? Low maintenance is key. Young professionals are typically very busy starting out their careers, so much so that they don’t necessarily have time to take on a fixer upper. That said, they want a house that is close to move-in ready, has newer appliances, and updated kitchens and bathrooms.

Online Appeal

It’s estimated that up to 95 percent of Millennials rely on the Internet to view listings during the home buying process. Further data states that about 65 percent of buyers walked through a home after viewing it online, and more than 75 percent at least drove by a home after seeing the online listing.

Bottom line: If you’re selling your home these days, make sure that it shows well online. Take pictures with a quality camera and make sure you’re doing it in the right lighting for the best results.

If you are looking to buy a new home or sell your existing property, your trusted real estate professional is ready and willing to help you every step of the way.

Filed Under: Real Estate Tagged With: Millennial Home Buyers, Real Estate, Smart Home

  • « Previous Page
  • 1
  • …
  • 100
  • 101
  • 102
  • 103
  • 104
  • …
  • 115
  • Next Page »

Rhonda & Steve Costa

Rhonda & Steve Costa

Call (352) 398-6790
Sunrise Homes & Renovations, Inc.

Contractors License #CBC 1254207

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Connect With Us on Social Media

Categories

Looking For Something?

Our Location


Spring Hill, FL 34608

Equal Housing Opp

Return to top of page

Copyright © 2025 Sunrise Homes & Renovations, Inc.. All rights reserved.   Log In