Homebuying Tips Millennial Homebuyers Should Know

According to the National Association of Realtors 2019 report, millennials make up the largest percentage of homebuyers. Millennials looking to buy a home also face something many buyers before them didn’t: student loan debt. Based on the stats, this factor doesn’t stop them from finding their dream home. With proper planning, saving, and expert Realtor guidance, everyone can eventually find the right place to call home.

Save For the Down Payment

Due to the age group, the mortgage loan route is most popular among millennials. Saving a good chunk towards your down payment can considerably lower your interest rates, avoid mandatory private mortgage insurance, and lower your monthly mortgage rate. Mortgage brokers, banks, and Realtors recommend putting down 10%-20%. Saving a lump sum is easier said than done, so carve out a solid plan and don’t deviate from it. When you find yourself getting discouraged and dipping into your fund, remember what you’re saving for and stick to it!

Count the Costs

There are a lot of quiet costs during the homebuying process. Besides the down payment, there’s the home inspection fee, earnest money, possible repairs, appraisal fee, insurance, lender fees, and moving costs. Do your research to get a general idea of typical expenses and work with your Lender to estimate how much your fees will be. Use a spreadsheet to track your expenses and homebuying fees to build a budget that covers these costs without pulling from your savings.

Eliminate as Much Debt as Possible

One issue that stops or slows some millennial buyers from pursuing homeownership is the assumption that you can’t afford it. However, you can definitely afford it! Pay off credit card debt, make student loan payments, and eliminate any other debts you may have while saving to buy a home. Hiring a finance coach can also help point you in the right direction if it fits in your budget. There’s a reason why millennials are dominating the homebuyer statistics; you’ve taken steps like these to coordinate your finances!

Understand the Buyer Process

Overall, knowledge of the buying process will make your journey smoother. As a first-time homebuyer, you may not know where to begin in the buying process. Do you know which questions to ask? Do you know how much earnest money you will need or which lender to use to secure your financing? Do you know what is a fair offer price? The benefit of an experienced Realtor is they can not only guide you through the process, but they can ensure your best interests are being looked after as well. Finding a Realtor who will take the time to listen to your questions and answer them thoroughly will alleviate several mistakes and missed steps that could potentially arise without their guidance.

If you’re looking for an expert real estate team to assist you in buying your first home in Dunwoody, Sandy Springs, and the surrounding areas, Karen Cannon Realtors is here to help you. We can help find the right place to call your home. Give us a call us at 770-352-9658 send us an email at Info@KarenCannon.com. Check out our current listings here.

close up of male hand packing cardboard box

4 Downsizing Tips for Empty-Nesters

Sending your birdies off to fly in the world can make any parent anxious, let alone having to deal with the possible idea of downsizing. You don’t want to lose space or part ways with the memories you’ve made in their childhood home. The good news is you don’t have to. Downsizing has many benefits and doesn’t mean moving into a smaller home. It could be that you want a home that requires less maintenance, an HOA-free neighborhood, or something that’s a better fit for your budget or new empty-nester lifestyle.

Whatever your situation may be, we have 4 tips to help make downsizing as an empty-nester simpler and stress-free:

Get an Idea of What You’re Looking For

Before you make any sudden decisions, it’s best to get an idea of what you want. Do you want a master on the main? Fewer bedrooms? A smaller yard? A home that requires less upkeep? Smaller neighborhood? Solidifying this list early-on will make your transition much smoother, as you will have a sense of direction and structure to find what you want. Ask your realtor to help you narrow down your choices. A realtor provides extensive knowledge about neighborhoods, price points, and can lend an expert perspective to make your vision crystal clear.

Declutter & Organize

Your kids are all grown up and have gone off to college and many of their childhood possessions have been left behind. You’ll want to keep some things, but that old drum set that never quite got used could go, right? Downsizing is a great time to declutter and make your home fit the new season that you’ve begun as an empty-nester. Don’t be afraid to part ways with old items your children have grown out of or things you know you won’t use. A wonderful way to make cutting the cord easier is donating the items to local second-hand shops or charities. Even though you’re parting ways, you know someone else who really needs it will get it. It’s a win-win.

Create a New Lifestyle For Yourself

Finally the fun part! Empty-nesting is a great time to rediscover yourself and create a new, vivacious lifestyle for yourself. Take up that salsa class you can’t stop thinking about. Join a local sports club. Commit to monthly spa days and golfing. This is your time to enjoy YOU. Turn that extra bedroom into your personal den or hobby room. You could even redecorate or renovate parts of your home to fit your style. Whatever lifestyle you want to create for yourself, this is an exciting and invigorating time to do it.

Reduce Your Monthly Expenses

Downsizing is also a prime time to start saving extra cash for retirement. As your adult children begin supporting themselves, your monthly child-care expenses will start disappearing. Use this transition to look for ways to repurpose the extra money. A home that requires less maintenance, lower HOA dues, or infrequent landscaping may eliminate even more expenses and allow you to put your money to better use. The stash you create for yourself today will surely come in handy for retirement later.

While the thought of downsizing may be daunting, it can be done! Use these tips to give yourself a head start on this new journey as an empty-nester. Still need some advice or have questions? We want to help make this transition as smooth as possible for you!

We have helped hundreds of clients downsize and paired them with the right resources to start the process. We can help you find the right place to make your move. Give us a call us at 770-352-9658 send us an email at Info@KarenCannon.com. Check out our current listings here.

4 Questions to Ask Yourself about Downsizing

For years after moving out on your own, you spent your time earning, building, and collecting. Maybe over the years, you raised children that are leaving for college or are now adults, or your love for traveling made stuff and space seem less exciting. Have you become an empty-nester? How do you know when it is time to consider downsizing?

At Karen Cannon, Realtors, we see many people and couples wrestle with these thoughts when it comes to their home. We’d like to share our expertise on how you can identify when it is time for you to downsize. Here are four questions you can ask yourself to determine if it is time for your family to downsize.

1. Are you an empty nester?

This is the most obvious question, with the easiest answer because either yes – your children are grown and have moved out, (and hopefully… it will stay that way!) Or the answer is no – you have kids that need you to keep providing a roof over their head – or maybe they just love your home and neighborhood so much, they don’t want to leave. If you’ve spent years with a full house and the wonderful chaos of parenting when the kids move out you may find yourself feeling like your house is too big now. Empty bedrooms can contribute to that. Avoid giving yourself the space to collect more junk or harbor childhood items long forgotten by downsizing to a home that feels more full – even with less space, or the right space.

2. Are you finally retired?

For years, you have worked and saved, and that sweet day is finally upon you: retirement! While everyone’s picture of retirement looks a little different, many people decide to travel more once retired, or to have homes in multiple places. A great way to achieve this is to downgrade to a smaller home that won’t cost as much to maintain, giving you more money to see the world.

3. Are your home improvement and maintenance days over?

When you first move into a home, the idea of projects around the house can sound exciting! But after years of home improvement cutting the grass, and fixing the garage door, you may be ready for someone else to worry about those projects. Moving to another home could give you less to take care of, and offer you more time to do the things you love. Some homes even eliminate yards altogether! Might as well sell the lawnmower too while you’re at it.

4. Do you need a master on the main level?

As much as we try to fight it, age can take a toll on our bodies. Suddenly things like climbing a flight of stairs get harder to do – and can even put you at risk. A home offering one-level living can offer you the space and comfort you’ve been looking for.

If you answered yes to any of these and you’re considering downsizing, give us a call. We have helped so many people downsize and find a great place to fit their needs, and we have contacts to help you every step of the way including estate sales, donating/consigning items, removal of old items, and more.

We aren’t just here to buy and sell homes – we understand that leaving a house full of years of memories is difficult, and our team will walk beside you each step of the process and help you find a house that can truly feel like home in the season of life you’re in.

Call us at (770) 352-9658 or send us an email at Info@KarenCannon.com to get started, and check out our current listings here.

How to Tackle the 4 Most Common Types of Clutter

Whether you are making room for a new addition to the family or downsizing, de-cluttering is a must. We know how difficult it can be to decide what to keep and what to ditch. First, you have to understand just what kind of clutter is piling up in your home. Here are the 4 most commons types of clutter and how to tackle each:

Clutter Without a Home

Some of your clutter isn’t actually clutter; it just doesn’t have a home. It could be mail you haven’t opened yet or books that are piling up because your bookshelf is overflowing. This type of accumulation is going take a few extra steps because it’s not about a ditch or keep pile.

You have to be a little bit more strategic in creating storage space. It may require buying a few storage bins, but it will be worth it to see everything in their rightful place. Clear and labeled plastic containers work for most items in the home whether it’s a temporary or permanent solution to your clutter. Try to place your containers where they make the most sense. A small container for the mail should go wherever you normally drop your mail off when entering your home. A larger container can be placed next to the shelf for any books that won’t fit.

Aspirational Clutter

This type of clutter is the stuff that you buy in hopes to someday use. It’s just like the coffee table book you keep on display but have never sat down to read. Whether it’s the set of golf clubs collecting dust or the skiing wardrobe for that vacation that never seems to get booked, we are all guilty of making aspirational purchases.

If your purchases have started to pile up and you’re not using them, it could be time to find them a new home. Ask yourself questions like: Am I really interested in golf? Do I really plan to go skiing? Am I actually going to use this or that? If you say maybe or no to any of these questions, you may want to put them in the ditch pile or try to sell them.

Bargain Clutter

You may have guessed from the name, the type of clutter we’re referring to – bargains. If you can’t resist the urge to buy when there is a good sale and often find your purchases stacking high, you may have some bargain clutter. It can seem easy to justify a purchase when it’s on sale, but that doesn’t mean you should bring it into your home.

The best way to tackle this kind of clutter is to go through all of your items and determine what you actually need. If you don’t need it, put it in the ditch pile. Next time you see a sale, think long and hard about whether you are buying just because.

Sentimental Clutter

If you’re afraid to throw out your old baby blanket or your child’s first pair of shoes, you could be holding onto sentimental clutter. This is the hardest clutter to get rid of because there is an emotional attachment to these items. Deciding what to throw out and what to keep may stir up some emotions.

Carefully choose just a few items to hold onto as mementos. Which items bring you the most joy? Always remember that getting rid of things is not getting rid of the memory. Determine what is really meaningful and what’s just stuff. It’s understandable to want to keep old love letters or birthday cards, but they don’t have to take up space. Take a digital scan and create a folder on your computer or a hard drive. You can reclaim your space while having the option to go back through them if you want to take a walk down memory lane.

You should also think about if the size of your house and whether the items that are filling it suits your lifestyle. Some of our clients, for example, are ready to downsize. With kids out of the house, they are typically looking for a home that is just for them. On the other hand, some of our other clients have outgrown their home as their family grows, so decluttering can help in the packing and moving process. Whether you’re interested in something bigger or smaller, Karen Cannon, Realtors can help you find something that is perfect for you.

At Karen Cannon, Realtors, we are local real estate experts for Dunwoody, Sandy Springs, and North Atlanta. We live, work, and play here, and our agents are hand-picked for their connections in the community. Our clients know about homes coming on the market before anyone else. And our highly effective marketing program allows us to shorten the number of days on the market. We’ve even put homes under contract sight unseen!

If you are thinking about selling your home, or are interested in moving into Dunwoody, Sandy Springs or the surrounding areas, call us at 770-352-9658.

Benefits of Using Virtual Tours to Attract Buyers

As technology evolves, so does the selling and buying experience. Now, there are more immersive and interactive techniques being used in real estate. At Karen Cannon, Realtors, we always have our ears to the ground with the latest technology that can enhance and improve our clients’ buying and selling experience. When 3D Virtual Tours became available, we hopped on board to offer this enhancement as a part of our service, and we have seen great success ever since. We offer a truly immersive experience so that buyers can feel like they are in the home. If you’re a skeptic, we’re here to tell you there are some great benefits to using virtual tours to attract buyers.

It captures potential buyers in remote locations

Let’s face it; moving to another part of town can be hard let alone another state! Virtual tours open up the opportunity to capture buyers from all over the world. With our 3D Virtual Tours, we have a specialist that uses a unique 3D camera to capture every single angle of your home for buyers to later explore on our website. It’s a virtual walkthrough that buyers can enjoy no matter where they are and no matter the time of day.

It gets more eyes on your home

One of the goals of having virtual tours available is to find buyers seriously interested in your home quickly. The virtual tour is like an “always open house,” and the client can spend as little or as much time in each room as they want. The longer a client spends looking through sections of your home, the more they can imagine themselves owning it. Studies have shown that virtual tours get 49% more qualified leads and get 40% more clicks than listings without.

There are times when only one partner is available to view a listing in person. The 3D virtual tour allows both parties to get a feel for the home. In addition, if a buyer is interested, but wants others to weigh in on a home, the 3D tour gives them the opportunity. Whether it’s a parent or a spouse, they can view the home at their convenience which can help move these along in their decision making.

It showcases your home in pristine shape 24/7

Showcasing a property is just a part of the home-selling process. Your home has to look great whenever we showcase your home to potential buyers, and some sellers find this to be a hassle. While showing a home in person will most likely still happen, the 3D virtual tour allows buyers to step inside of your home, virtually, whenever they want to and for as long as they want to. It also offers a floor plan and dollhouse view that allows the seller to virtually place furniture to give them a visual idea of what the home would look like furnished. The seller won’t feel as rushed as they normally would for say an open house or a showing because it is on their time. Having that added time allows the buyer to decide if they are serious about buying. If they are, they will reach out to us to either make an offer or see the home in person.

We provide 3D virtual tours for every listing as well as home staging, professional photography, and videography. We also provide unique and targeted social media marketing tactics. As we mentioned before, the goal is to get serious buyers interested in your home. The 3D tour introduces buyers to the home. Whenever they’re ready to view the home in person, we always have an agent available.

If you are thinking about selling your home, or are interested in moving into Dunwoody, Sandy Springs or the surrounding areas, call us at 770-352-9658.

Source: Matterport