Sunrise Homes & Renovations, Inc.

The Advantages Of A Dual-Location Lifestyle

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The Advantages Of A Dual-Location LifestyleCommuting for hours in traffic on a daily basis is a waste of resources, time, and money. It is stressful and bad for the environment. The infrastructure in many parts of the United States is falling apart. The roads and highways do not have sufficient capacity to handle the demands of the traffic load that continues to increase each year. Many busy professionals and families are turning to a solution of owning two homes for the convenience of enjoying dual-location living.

What Is Dual-Location Living?

The most common form of dual-location living is having a home and also owning a vacation home. Many like this lifestyle of having a vacation home to enjoy, to get away from it all. Retirees may use this strategy to have their residence for spring and summer in the cooler areas and then have another place to spend the time during the bad weather months of fall and winter. 

The trend of dual-location living, which is increasing now, is when the two homes are closer to each other. Professionals and families who want to spend the weekdays in the downtown areas or an area near the best schools may have a downtown residence and also a weekend residence in the suburbs. 

The Best Of City And Suburban Living

During the working week, the time spent downtown can be to enjoy going out to eat and partaking of the various amenities that come along with the big-city life. Then, by waiting until after the commute time, it is easier to go to the home in the suburbs. This allows for a couple of relaxing days before heading back late Sunday night to downtown, once again with less traffic. Waking up on Monday just a few minutes from work is pleasant.

Reducing Expenses

For those who need to manage their budget carefully, maintaining two places can be quite expensive. It may be better to share expenses with others by renting out a portion of each home. The proportional sharing does not have to be equally-divided in both homes.

Instead, the city-based home may have a private room and bath with the rest of the house rented out and the reverse in the suburbs, where only a guest room rents out. Doing this well means the rental income will offset significant portions of the expenses.

Another possibility that comes from dual-location living is using the time saved, which comes from less time wasted on commuting, to generate additional income.

Summary

The trend of owning two homes, near each other, yet on the other side of a long commute, makes sense. Besides all the conveniences of dual-location living, it is the start of building up a real estate investment portfolio by buying a second home and generating some rental income to help pay for it.

If you are in the market for a new home or interested in listing your current property, be sure to set up an appointment with your trusted real estate professional.

Questions To Ask When Transitioning To A Retirement Community

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Questions To Ask When Transitioning To A Retirement CommunityOne of the dreams that many people have is to eventually retire. People work their entire lives and save diligently to be able to enjoy those golden years. When the time finally comes, people need to think about the community that is right for them. With this goal in mind, there are a few common questions that everyone should ask to find their ideal retirement community.

Important Questions To Consider

Some of the key questions that retirees should be asking include:

Do I Want A Communal Setting?

Many retirement homes are built in a communal setting. Think about a bunch of condos that open up into a main hallway. There might also be a main dining area where the residents congregate to spend time. This might be a great way to meet new people; however, it might also sacrifice some independence along the way. Some individuals who require medical care might need a communal setting.

Where Is It Located?

While this might seem obvious, this question is often overlooked. What part of the country is the retirement community located in? Some people might be interested in moving to have access to better weather. Other people might want to move to be closer to family members or friends. Think about geography as well.

Are Meals Provided?

Some people don’t want to cook when they reach their golden years. Other people want to be able to cook every meal. Some individuals may simply want to have options. Some retirement communities provide meals for their residents. Others do not. Be sure to ask about the meals that are provided. Also ask when they are made, what the options are, and how much they cost.

Are There Transportation Options?

Some retirement communities provide their residents with transportation that can take them around town to get groceries, to doctors’ appointments, and other errands. As people get older, they might not be able to drive. Therefore, this transportation can be important.

Asking The Right Questions About A Retirement Community

These are a few of the important questions that everyone needs to ask when moving to a retirement community. This will help everyone find the right living situation for them and their family.

If you are in the market for a new home or interested in listing your current property, be sure to consult with your trusted real estate professional.

5 Important Mistakes To Avoid When Selling A Home

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5 Important Mistakes To Avoid When Selling A HomeSellers of homes often make mistakes that are not in their best interests. Here are common mistakes people make when selling a home and how to avoid them.

Using Bad Photography

Using lousy photos or no photos to promote the property for sale is foolish. Professional photography is not so difficult or expensive that sellers should settle for the use of bad photos. Sometimes all the potential buyers will see is the photos they find online. If the photos are bad or not there at all, then that is the end of their interests. 

To stimulate interest in a property, it is even better to use a high-quality video walk through than simple photos. This allows a buyer to enjoy a virtual showing of the property.

Allowing Emotions To Control The Process

Sometimes, buyers should step aside and let the experts guide the process. One example of this is the decisions about staging a home for sale. Staging is getting the home in an immaculate condition that is most attractive to buyers. 

An important part of staging the depersonalization of the home. This means removing any photos or family items. The reason for doing this is to allow the potential buyer to imagine their family living in the home and not have them think about the previous residents. 

This part of the process may be quite emotional for the seller because it is the first clear sign that they are truly giving up a home. Those emotions are natural but should not stand in the way of getting the home ready for sale.

For Sale By Owner

It may be tempting to try to sell a home without utilizing the services of a professional REALTOR®. However, many studies show that the net price that sellers receive for selling a home on their own is about the same as if they used a real estate agent. 

The buyer pays the real estate agent’s commission. Usually, the price achieved by a professional real estate agency is higher than what an owner may achieve alone. The reason for this is that buyers expect to get a discount from the market price for a for-sale-by-owner (FSBO) home. Another consideration is that marketing a home is not easy for amateurs to do, so FSBO homes may languish on the market for a long time before selling.

Too Pricey

Listing a home for a price that is higher than the market value, automatically puts the seller at a disadvantage. It discourages a potential buyer from making an offer. Eventually, this may lead to having to discount the listing price. This makes the home look like something may be wrong with it.

Not Making Repairs

Homes that have a pre-inspection and all the necessary repairs made are much more attractive to buyers. This is true, even if the price includes a discount from market value to allow for the estimated repair costs. It is mostly a matter of convenience for buyers who want a home that is ready to move in and does not immediately need repairs to be made.

Summary

Avoiding these common, and sometimes costly, mistakes may help sellers to sell their homes faster and hopefully get a higher price. Work with a qualified REALTOR® to learn more about how to get a home ready for sale, what price to ask for, when to list it, and what to do to maximize the sales price.

3 Critical Considerations When You Choose Your Garage Doors

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3 Critical Considerations When You Choose Your Garage DoorsOwning property comes with a number of major responsibilities. This includes home maintenance and repairs. One of the common topics that people think about is the garage door. Sometimes, the garage door breaks and needs to be replaced. Other people might be adding a garage door for the first time. There are lots of options to choose from and this is an important decision.

There are a number of factors that people need to consider when trying to decide on a garage door.

The Material

First, people need to think about what their garage door is going to be made out of. The classic option is wood. It has a sleek, stylish look and can be stained to the owner’s preference. At the same time, steel has become a more popular option. This is because steel is stronger than wood. Other homeowners even elect to go with aluminum. Aluminum is lighter than steel and uses less energy. Aluminum can also be colored to look like wood. The material is a good place to start when looking for a garage door.

The Durability

Next, homeowners need to think about the durability of the various options. Some garage doors are going to be stronger than others. Garage door repairs can be expensive and this is a cost that homeowners should avoid if possible. Try to find a durable garage door that can stand up to the routine wear and tear. The stronger the material, the more durable it is going to be.

The Insulation

Finally, also consider the insulation that will be provided by the garage door. The garage is typically an unheated area. This means that any heat in the garage can easily escape through various openings. One of the largest openings is through the garage door. Try to find a door with some insulation. This will trap heat inside the garage and lower the home’s energy costs. An insulated garage door might be more expensive but can also save money on utility bills.

Choosing The Right Garage Door

There are a lot of options when it comes to garage doors. Each choice has its benefits and drawbacks. Homeowners need to take the time to assess the various options and figure out which one is right for them.

If you are in the market for a new home or interested in listing your current property, be sure to consult with your trusted real estate professional.

What Does A Property Management Company Do?

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What Does A Property Management Company DoFor those who are interested in learning more about real estate, property management companies are an important topic of discussion. Some people might not ever consider hiring a property management company.

Other people wouldn’t ever invest in real estate without a property management company to help them out along the way. This can be a hard decision for people to make. In order to figure out if hiring a management company is the right decision, it is important to think about what they do.

What Is Property Management?

It is the job of a management company to both maintain the quality of the residence while also keeping the occupants happy. Typically, the owner of the property will hire a third party to do this job. The management company then oversees the daily operations of everything that happens at the real estate property. 

This means that property managers respond to the concerns of the residents or tenants. If something goes wrong with one of the appliances, the property management company is typically the one who handles this issue.

If there is something wrong with one of the utilities, the management company handles this also. Parking problems are often handled by the manager as well. Property managers will also make sure that rent is collected on time.

Property managers are also busy while the property is vacant. The manager will make every effort possible to get the property filled if it is vacant. The manager will also make sure that the property is well-kept when it is empty. This means keeping it clean, updating appliances, fixing leaks, and other common issues that arise.   

Is A Property Manager Needed?

In order for someone to decide whether or not a property manager is needed, there are a few important considerations.

First, the more rental properties someone has, the more work will need to be done. It might be too much for one person to do on their own.

Next, think about how far away the property is. The farther away the property is, the harder it will be to keep an eye on it.

Finally, managing property is an active job. Those who intend to get into real estate as a form of passive income will want to hire someone else to handle this job.

Consider these questions carefully when thinking about property management companies.

If you are in the market for a new home or investment property, be sure to consult with your trusted real estate professional.

3 Traps First-Time Homebuyers Fall Into — And How To Avoid Them

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3 Traps First-Time Homebuyers Fall Into -- And How To Avoid ThemWhen someone purchases their first home, this is a significant step. There are a number of issues that people need to think about because purchasing a home is typically someone’s most significant investment.

With this in mind, there are three common traps that first-time homebuyers often fall into. Fortunately, there are ways to avoid these traps as well.

Looking At Homes Before Applying For A Mortgage

Perhaps the biggest mistake that people make is that they look for homes before they apply for a mortgage. Without a successful mortgage application, it will be difficult to find a home at all. Of course, people enjoy looking at homes because it puts their future into perspective. At the same time, it is important to have an idea of how much home someone can afford. This will be difficult to do without knowing how large of a mortgage someone will be approved for. Apply for a mortgage before looking at homes.

Draining The Savings Account

Most people will want to put down some sort of a down payment. After all, this can help one get a lower interest rate on their mortgage. At the same time, don’t think about the down payment as simply a number in the savings account. Calculate how much of a down payment is truly necessary. People shouldn’t have to drain their entire savings account for the down payment. This money might be needed for closing costs, home repairs, and other potential emergencies. 

Not Working With Trusted Professionals

The internet has provided people with instant access to vast amounts of information. This has the benefit of allowing the new home buyer to educate themselves and do research on homes to purchase, mortgage financing options and a lot of other home buying topics. However, the internet can also provide incorrect information or only partial information. 

That’s why it’s so important to work with trusted real estate and mortgage professionals who have your best interest in mind. Feel free to ask them a lot of questions and get specific answers about your personal financial situation and home purchasing needs. They are trained and have years of experience making sure that you get the best combination of things to serve your needs.

Purchasing A Home

These are a few of the most important issues that every first-time homebuyer should think about. It can make a significant difference in someone’s financial future. Pay attention to these and reach out to your local network of trusted professionals today!