Six Architecture Trends That Never Go Out of Style
The world of architecture revolves around finding solutions driven by human needs — the need for shelter, security, and a place to stay warm and comfortable, to name a few. As an industry, it has always prided itself in designing not only functional spaces but also beautiful ones. Try looking up Pinterest home designs and you’ll know what we mean. It’s amazing how architecture changed over the years. As is with every other practice, new ideas bloom, and trends are set. However, there are certain trends in architecture that have stood the test of time. In this article, we’ll discuss six of the timeless architecture trends to inspire you for your next home acquisition or project. 1. Tiny homes/Tiny living Recent times have seen a boom in a more conscious lifestyle. With more and more people living and needing only the essentials, tiny homes have sprouted everywhere to support the movement. These houses go as small as 15 square meters (or less!), but homeowners continue to make the switch since they’re eco-friendly, sustainable, and affordable. If you’re thinking of downsizing, or if this is your first time purchasing a home, you may want to consider living in a tiny home. Their simplistic and functional designs are perfect for minimalists or anyone on a budget. 2. Smart homes Technology and design have come a long way. And with the rise of smart tech, it’s making its way into our homes, on to the quest to future proof our humble abode. You’ll see these advancements through lighting gadgets, kitchen mechanisms, and even in the bathroom. Soon, automation will make day-to-day tasks obsolete. It brings a sense of ease and convenience to the present-day homeowner. A house that knows whether to keep itself cold or warm is something to marvel at, don’t you think? 3. Taking the outdoors inside The pandemic has been ravaging for quite some time, and it brought with it a longing for the outside world. Formal dining and living rooms are fading away and are being replaced by spaces that take in fresh air. Just like that, we saw a rise in architecture and design revolving around this idea— bringing the outside world into our home. From placing plants inside, to using earthy tones, to indoor-outdoor bathrooms, and even actual open areas in the middle of the house, this movement has set a milestone for great seamless living. Having a space that lets you breathe is now a plus in every home. It gives you a sense of wellness without having to be outside the comfort of its four walls. 4. Sustainability As the call to let the Earth breathe continues to ring across the globe, sustainability has been at the forefront of architecture. This movement aims to reduce the carbon footprint a home leaves and makes. Architects heavily consider numerous factors in order for them to call a property “sustainable”, and some of which include the actual materials used to build it, the location of the actual property, and the design. With architecture shifting its focus to designs that focus on sustainability, it brings with it cost-effective measures that will make the Earth and us happy. From designs that cool the house to recycling rainwater, to utilizing solar power – these are all great and easily-implementable steps that even you can do for your current home. 5. Multi-functional open spaces If you’ve looked for home designs online, then you’ll see pictures of open floor plans dominating the feed. It’s not a shock that this trend is here. People used to be so obsessed with walls and dividing spaces. Perhaps this suffocated them. Now they want to move freely with fewer limitations. Say goodbye to excessive walls as we welcome the era of multi-functional open spaces. It’s not very hard to be gone with the walls since there are wonderful design pieces out there that help compartmentalize spaces. Homeowners who choose to apply this approach enjoy the versatility of agile spaces. People can work, entertain guests, and lounge around in the area, essentially making the idea of having separate home offices, entertainment rooms, and even study rooms outdated. 6. Renovated or Rehabilitated Homes As the demand for homes and spaces continue to rise, so does the demand for fixer-upper projects. With more and more homes and buildings entering old age, this trend gives home seekers a cost-effective way to acquire a property. As we innovate, timeless ideas persist The trends we have listed are a move to innovation, all packaged in a timeless approach. Architecture and design will continue to evolve, so expect more wonderful concepts to take hold. We hope this article inspires you to pursue only the best ideas for your home or future property. Rabecca Ranaldi As an Associate Broker at EXIT Realty Mountain View - I help home buyers and sellers along Colorado’s Front Range including Colorado Springs, Woodland Park, and Peyton. As your Local Resource, I am happy to help! Associate Broker for Exit Realty Mountain View 719-426-0949 cell
6 Common Reasons Real Estate Deals Fall Through
Acquiring the real estate contract for a property doesn’t mean that the deal is already done and successful. Of course, it is definitely something that can be celebrated after all that you have gone through in the process. But you need to remind yourself that there are still many things that can happen between the contract date and the closing date. There are possible problems that may arise. It can be an issue with the real estate agent, the buyer, the mortgage, the seller, or a combination of all. To ensure the success of your real estate deal, it is best to know the common reasons real estate deals fall through. Here are the things that you should watch out for: 1. Home inspection issues The home inspection is an important part of the homebuying process. It is where you can assess whether or not there are issues or repairs that need to be done in the home. In most cases wherein major issues are found during the inspection, real estate deals fall through. These major issues can include molds, pests, foundation or structural issues, electrical issues, water pressure issues, roof damage, and building code issues. If you are a home seller, it is best to have your home inspected even before listing your property on the market. This will give you a chance to address possible issues before a potential buyer knows about them. It will help you avoid problems that could cause your buyer to withdraw their offer. 2. Buyer’s failure to sell their current home Another common reason real estate deals fall through is when a buyer fails to sell their current home on time. When buyers purchase a new home while still waiting to sell their current home, they submit an offer with a home sale contingency. This means that they can withdraw their offer if they aren’t able to sell their current home within a certain period. Some homes take a longer time to sell than other homes. If this happens, the real estate deal has a high chance to fall through. 3. Rejection of mortgage application Getting pre-approved for a mortgage is a must when buying a home. However, a pre-approval doesn’t necessarily mean that you will be approved for the mortgage. While lenders do their best to ensure that the pre-approvals reach the closing date, sometimes, there are just some things that the lender has no control over. Some of the reasons that make the mortgage rejected are the buyer’s loss of job or sudden health issue. 4. Bank appraisal issues If there are issues with the bank appraisal, a real estate deal can fall through. Real estate deals that involve obtaining a mortgage will need to undergo a satisfactory bank appraisal. If a bank appraiser determines that the value of the property is less than the sale price, it can be a problem. The buyer and the seller can negotiate and come to terms depending on the difference of the amount. So if the value of the property is much lesser than its sale price, the real estate deal will most probably fall through. 5. Problems with closing documents Before closing a real estate deal, there are various documents that need to be reviewed. Common problems usually involve problems with the title of the property such as outstanding liens, public record errors, past bankruptcies, or missing heirs. For both the buyer and seller, it would be best to prepare the needed documents early so you will have enough time to address possible issues. Ask your real estate agent for the documents that you need to prepare. 6. Closing costs Another reason that causes a real estate deal to fall through is when a buyer fails to foresee and prepare enough money for closing costs. Closing costs include attorney fees, appraisal fees, escrow fee, homeowners’ insurance, transfer fees, and property taxes among others. The amount of the closing costs can be significant and failure to set aside money for it can cause your real estate deal to fall through. A competent real estate agent is essential It is not just about finding the perfect home and looking for the right deal. It is important to have a trusted real estate agent who will guide you throughout the whole process and prepare you for any issue that could arise during the real estate deal. With a competent and knowledgeable real estate agent, you are guaranteed that there is someone who will efficiently help you address all possible concerns. Rabecca Ranaldi As an Associate Broker at EXIT Realty Mountain View - I help home buyers and sellers along Colorado’s Front Range including Colorado Springs, Woodland Park, and Peyton. As your Local Resource, I am happy to help! Associate Broker for Exit Realty Mountain View 719-426-0949 cell
5 Ways Millennials Can Invest In Rental Properties
Investing in real estate has been proven to be a great option for past generations of investors, however, many millennials are opting out of the market and choosing more flexible investment options. The popularity of stocks and new forms of investments like cryptocurrencies have become a popular option for millennials since they only require small capital and the returns are quicker. However, investing in rental properties can be a great entry point in investing in real estate since it can serve as a long-term passive income while providing cash flow. Millennials also have the advantage of knowing how to market their rental properties to the younger generation. Investing in real estate might not give quick returns, but it is definitely profitable in the long run. Here are several ways millennials can start investing in rental properties. 1. Establish your credit score Your credit score can have a big impact on getting approved for a mortgage and getting good terms. Many millennials struggle in building their credit score because of financial constraints. While it might take some time and effort to establish a credit score that’s good enough to be accepted by lenders, there are still many simple steps to improve it. How you manage your credit card is one factor that can leave a big impact on your credit score. It’s important to not go over your credit card limit and to make timely payments. If you are unable to pay your total balance, make sure to pay at least a portion of it before the due date. It’s important to keep your credit at 30% or less of your total credit limit. 2. Save up for a down payment The next step is saving up for a down payment. Once you are pre-approved for a loan, the down payment is the biggest chunk of money that you will need when buying a rental property. You would need to deposit at least 20% of a property’s contract price. To prepare for this, you can do your research in advance on the market value of current listings before you decide to buy a rental property. 3. Calculate the rental property’s ROI Once you have a target rental property, you’ll want to calculate the property’s potential return on investment. You’ll need to get initial figures on monthly rent prices in the area as well as your expenses. For the expenses, you’ll need to consider the initial expenses, operational expenses, vacancy periods, repairs and fixtures, among others. The best way to calculate a property’s ROI is to analyze the current market trends and to make sure that you are accounting for all the expenses, including the interests. You’ll also need to identify and assess the risks. Projecting your ROI is the best way to decide whether the investment is worth it in the long run. 4. Manage the property on your own As a millennial starting out in the rental industry, you can skip hiring a property manager and choose to manage it on your own, especially if your budget is too small. Managing a property can seem easy to do, but it can also take a lot of time and hard work. You’ll need to learn certain skills that will help you manage the property efficiently. First, you’ll need to know the right qualities to look for in a tenant. You’ll also need to know how to write a sound contract and you’ll need to set property rules. You’ll also need to know how to handle unruly tenants and other conflicts that may occur. Moreover, accounting for your finances and knowing how to repair broken fixtures are also skills that you’ll need. 5. Consider house hacking House hacking is buying a property, such as a single-family home or duplex, and having parts of your home rented out to generate income. House hacking is popular among millennials because it is a great way to cut down on housing expenses. When you commit to this type of investment, you’ll be able to cover your mortgage and monthly utilities while enjoying tax deductions. It is also a great start if you want to ease in investing in more rental properties in the future. Investing in real estate might seem like a big commitment, but it’s definitely a smart long-term financial move. Not only will you yield high capital gains, but you’ll also have regular cash flow available while benefitting from tax deductions. Make sure to follow these tips to make your investing journey easier. Rabecca Ranaldi As an Associate Broker at EXIT Realty Mountain View - I help home buyers and sellers along Colorado’s Front Range including Colorado Springs, Woodland Park, and Peyton. As your Local Resource, I am happy to help! Associate Broker for Exit Realty Mountain View 719-426-0949 cell
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