8 Reasons Why you Should Buy New in the New Year!

If you’ve been thinking about buying a new Elite home here in Louisville, taking the plunge before year-end could save you money and potentially even increase your future take-home pay. Here are some of the reasons the fourth quarter is a great time to buy a home.

1. Flexible schedules

There’s no need to wait until Saturday or Sunday to cram five house tours into your schedule. Rather than wasting precious weekends, take an end-of-the-year vacation day to check out available homes. Chances are, agents and sales people have some time on their hands as well, and would appreciate staying busy throughout December.

2. Low interest rates

The Federal Reserve continues its' slow march toward higher interest rates, signaling that it remains on track to raise its' benchmark interest in December for the first time this year. Expectations are that rates will be raised gradually, but even an extra half point can make a big difference in monthly payments as well as the lifetime cost of a loan.

3. Lending lull

With everyone off celebrating the holidays, December is traditionally a lean month for mortgage brokers. Since there are fewer real estate transactions, loan officers may be motivated to offer special incentives and possibly waive or reduce origination fees. With so few loans in the pipeline, underwriting turnaround times will be quick.

4. Tax savings

If you close by December 31, you can mortgage interest, property taxes,and interest costs. These deductions are significant, especially in the early years of your loan when you’re paying off a lot of interest.

6. Down payment options

For many years, 20% has been considered the magic number for a mortgage down payment – anything less could end up costing you. Consider how adjusting your down payment will affect your interest rate; generally the less you put down, the higher your rate will be. But if getting into a home quickly is your priority, a low down payment can facilitate that goal.

7. Available movers

Many moving companies are booked six weeks or more in advance during the busy summer months. In the fall and winter, it’s normally easier to secure the services of a moving company or rental equipment on shorter notice.

8. You have time to move and unpack

Coordinating a move takes time and energy. The whole process can be a headache if you’re juggling a move and full-time work. If your employer offers time off around the holiday season, this is the perfect opportunity to buy a house because you’ll have time to move and unpack before heading back to work.

Top Tips for New Homeowners at Elite Homes

Here at Elite Built Homes in Louisville, Kentucky, we make sure that the building process is easy for our buyers, but we want to help you throughout the entire process - inducing after the move! You’ll need things to help get settled. Here are some tips to help make the transition a little easier.

·       Tools / Around the House items. If you’re moving from an apartment or other rental, chances are you may not have some of these items. Now that you’re a homeowner, you should get them as soon as possible.

o   Tool set including a hammer, Phillips and flat head screwdrivers, and a mix of nails, hooks and other hardware.

o   First aid kit

o   Fire extinguisher

o   Toilet / sink plunger

o   Flashlights and batteries

·       Cleaning closet supplies. Another often forgotten set of items for a new home is cleaning supplies. For the ones that will be used through the entire house, you may need to buy multiples.

o   Toilet brush and toilet bowl cleaner

o   Rubber gloves

o   All purpose cleaner, safe to use on glass and wood

o   Stove cleaner

o   Bucket with mop

o   Broom and dust pan

·       Plenty of essential paper supplies. You do not want to be digging through boxes looking for toilet paper, paper towels, and tissues.

·       An overnight bag. No matter how well organized your move is, chances are the house will be a little disorganized for a while. Pack an overnight bag with extra changes of clothing (include sleepwear and underwear), and toiletries (soap, shampoo, toothbrush and toothpaste, deodorant), plus towels and washcloths for cleaning up. 

·       Rudimentary pantry supplies. Cleaning and unpacking is hard work, and going out for take-out isn’t always possible. Make sure you have snacks like fruit, nuts, and granola bars since they require no refrigeration, no preparation, and no utensils. Don’t forget drinks - bottled water, juices, tea bags, instant coffee. And for meals, stick to basics like pasta and sauce, cereal and milk, bread and peanut butter, canned soup, etc.

·       A personal treat or two. If you always end the night with a glass of wine, bring a bottle to reward yourself at the end of your long first day. (Don’t forget the wine opener and a wineglass.) If you’re an avid reader, bring a book you’ve been dying to read to help you fall asleep at night. You’re going to be working hard when you first move in, so make sure you also allow yourself a bit of fun to make the transition as easy as possible.

How to Move into Your Elite Home Like a Pro

Despite your excitement about your new Elite Built Home in Louisville, chances are you’re not as excited about the acutal moving part. The good news is that we have a few tips and tricks to help you get more involved without sacrificing the quality and efficiency of a professional mover.  As your big day starts approaching, here’s how you can be sure to move like a pro!

Ask Yourself these Questions:

• When is the official move out date?
• What can we live without and get rid of before the move?
• What packing supplies do we need?
• What needs to be canceled at current house and what needs to be set up at the new home: utilities, internet, address changes, doctors, etc.
• What will we need immediately after the move?

Know your Timeline.  Moving isn’t an overnight process, so make it easier by starting to gradually remove junk and pack up smaller items a couple months out.

Remove the Junk. No matter how long you’ve been in your current home, you’ve most likely acquired a lot of “stuff.” Start going through each room and figure out what you can live without. Toss old items, hold a garage sale or donate them to a local organization.  The less you have to move, the better.

Snap Some Photos. Take quick photos of various TV/cable wires and other complicated assembly items to reference when you’re setting them back up in the new place.

Use Other Household Items to Help Pack. There are a lot of different items that you plan to take with you that can be used to help transport others. Use blankets and sheets to wrap picture frames and vases, while throwing spices and other kitchen items into trashcans, baskets or even crock-pots. They’ve all got to get to the new place somehow so why not multi-purpose them!

Buy and Resell Packing Materials. A lot of home improvement stores will have boxes for purchase, but try asking friends or other stores if they have some they’ve saved or need to dispose of. Websites like Craigslist also have free or inexpensive moving boxes available. When the move is over, break everything down and use the same resources to resell everything.  

Color Coordinate Rooms with Duct Tape. Aside from labeling ALL sides of the boxes, assign each room a colored duct tape to mark the boxes so it’s even easier to identify and organize once you’re unloading.

Don’t Overpack Boxes. You may be able to stuff A LOT into your boxes, but try to plan ahead by weight. Fill smaller boxes with heavier items so they stay about 50 lbs. or less, while trying to keep similar items together.

Separate Your First Day Essentials. Plan an overnight bag for each person that contains his or her specific toiletries and change of clothing. This bag is also a great place for laptops and other important electronics.  Anything else that you may need in the first 24 hours (i.e. trashbags, cookware, toilet paper, etc.) should be packed in a clear storage box so it sticks out from other boxes in the truck. It’ll be easy to find, so you’re prepared for the first night in your new home!

So it's Time to Make the Big Move!

The thought of owning your own home may have always seemed like something for the distant future. As one of the biggest investments you’ll ever make, it’s easy to find reasons why the timing just isn’t quite right.  Despite the hesitation you may have, owning your own home can add incredible value not only in the future, but right now too! Here’s why it’s time to make the big move.

First Off, You CAN Afford It. In all but two of the top 100 biggest US housing markets was it cheaper to buy than rent a home. In fact, buying a home is currently about 23% cheaper for millennials than renting one.  Interest rates are nearing record lows, and homes are more affordable than ever. You may have felt like renting is a safer bet, but really, you’re getting a lot more mileage for your dollar when you buy. How?

You Build Equity. In a sense, paying your mortgage is a form of savings.  With each payment, a portion goes toward reducing the amount you owe, increasing your equity as a result.  It also increases as your home appreciates over time.  With sound equity, you can qualify for home equity loans, which can be used to help pay off medical, educational and other expenses you may have.

You Enjoy Added Tax Deductions. Unlike renting where your hard earned dollar simply disappears into your landlord’s pocket, your home expenses can actually reduce the amount you pay in income taxes.  Mortgage interest, property taxes and even certain closing costs may all be tax deductible, and in the first couple of years when interests are a big part of your mortgage payments, this could mean a lot more money back in your wallet.

You Can Build Strong Credit.  As long as you’re paying your monthly loan payments on time, you’re proving to other lenders that you’re low risk.  In the future, when other large purchases or expenses arise, you’ll have a better case for getting that loan.  It’s important to plan for the future, but remember you can’t predict everything…

Don’t Try and Time it Perfectly.  Waiting for the “right” season or timing isn’t a guarantee.  For starters, despite there typically being more homes on the market in the spring, competition can be lower in the fall and winter months. If you’re building a home, starting the process now can get you a nice spring time move in.  A fall start can also be an advantage because builders can work through cold and snow, while heavy rain is a different story. 

In terms of value, you can’t predict where the market will be in a couple of years, but you can do the research and ask the right questions to make a smart decision now.  And when you do, you’ll enjoy the greatest benefit of all…

Creating the Perfect Home for YOU. Say no more to staring at that horrible floral wallpaper or bright pink bathroom tile your landlord couldn’t care less about.  But more importantly, owning a home means you can create a place that reflects your own unique personality and needs.  By taking advantage of all the freedom homeownership offers, it’s not just an investment, but also something much more meaningful.

Keeping your Pet Calm During the Move

So you’re moving into a new home – what an exciting time! Your pet(s) may need some extra love and attention to keep them safe, comfortable and happy. Relocating pets takes understanding, care and an investment of time that starts long before moving day!

Before the move

-Pack gradually, so your pet will get accustomed to change. Choose one room in your house, and fill it with items your pet loves. On moving day, keep your pet in this room until you're ready to leave.  

-Take a trial run. If your pet is not used to traveling by car, make short trips with it a week or two in advance. Cats are often frightened by car travel, but they usually adjust quickly.

-Pack a bag for your pet, filled with fresh food, treats, water, two bowls, toys, a leash and some long-lasting edible or durable chew toys.

On the road

-Plan to make a few stops. This will allow your pet to get a drink, stretch their legs and take a restroom break. (Remember your pet is very excited about the change in scenery and may need to potty more frequently.)

-Not all moves are done in one day. If you are on the road, call pet-friendly hotels along your route and verify individual pet policies. 

If you’re flying…

-Call the professionals. If possible, use a certified pet carrier service to relocate your pet to ensure that the pet’s travel will go smoothly.

-Check with the airline. If traveling by air, check the airline requirements so you can take steps to keep your pet safe. Some airlines allow pets in the cabin, depending on the animal’s size.

New home sweet home

-Food and water first. Once your pet is in the new location, make sure that he or she gets food and water. Place the bowls several feet from each other, though, so that your pet pet doesn’t gulp down the water too fast. 

-Once you are in the new location, keep your pet in a quiet place of your home, during the unpacking. Introduce him or her gradually to their new surroundings. 

-Settle in to your new home. Once your pet is home, be sure to spend time with him or her. They’ve earned it, and it’s also important that your pet feels comfortable before letting them roam the house or walk off the leash!