NEW YEAR, NEW HOME GOALS Step 1: Get Pre-Approved or At Least, Pre-Qualified (yes, there is a difference)
If buying or selling a home is on your New Year’s resolution list in 2025, now is the perfect time to step back to assess your plans and prepare. Whether you’re a first-time home buyer, upsizing, or making an investment move, ensuring your finances are in order is the crucial first step. As exciting as this milestone can be, make sure you set realistic expectations of your budget, how much you can list your home for if applicable, and determine the best financing strategies for your goals and preferences. Before you start touring homes or terms of potential offers, meeting with a trusted mortgage expert to get a plan in place will allow you to move forward with clarity, confidence, and effectiveness. Be honest with yourself. Every seller wants to sell their home for the highest possible price, but if it was as simple as listing it for whatever price we wanted to sell for, well, you can understand why that just wouldn’t get the job done.
When budgeting for your next home, stay conservative on your estimated net proceeds, as overestimating the value of your home can lead to challenges in the selling process and cause the purchase to be stressful or even not attainable. If you plan to sell to buy, you will want to receive the opinion from at least one real estate professional who is active in the current market.
offer and obtain your loan. You can also run scenarios with your lender to allow you to process, digest, and brainstorm the best offer for you. Some are worried about getting pre-approved due to the credit inquiry, which may ding their score a point or two. If this is you, just tell your lender you’d like to hold off on the hard credit inquiry and just go off your best guess or a “soft pull.” Of course, the numbers will be subject to change if your credit score is different than what you believe it to be. Don’t be afraid to ask questions. Lenders are a valuable resource, and starting a conversation early is well worth your time so you can make the most informed choices about your purchase or sale. They can offer various financial products and insights tailored to your needs. Remember, asking questions won’t cost you anything but will provide you with tools and resources to get closer to your home goals.
Understand and plan your financing early.
Many people can sometimes assume they can or can’t qualify for a loan or certain price point before thoroughly exploring their financing options. Meet with your lender early, and don’t give up too quickly. Due to recent shifts in the mortgage world, banks are more willing to provide loans and competitive pricing for lower credit scores and/or lower down payments. By getting preapproved, you ensure there will be no hang-ups for when you need to make your
Make the Most of Your Exposed Brick With These Design Tips BRICK BY BRICK
Whether your home has a rustic brick chimney or a bold brick accent wall, it’s all about balancing brick’s raw, textured charm with your style. Here’s how to make the most of this distinctive feature in your home. Highlight the heritage. Exposed brick can bring your space back in time, adding antique elegance. To amplify this charm, incorporate decor with a vintage flair. Think weathered wood, classic paintings, and ornate rugs that complement the brick’s rustic tones. Mix it with the modern. Who says old and new can’t mingle? Pairing exposed brick with modern elements creates a contrast that catches the eye. Opt for minimalist designs like sleek black countertops or glossy white surfaces.
Focus on the brick. Let your exposed brick wall take center stage by keeping surrounding elements understated. A neutral color scheme with white, soft gray, or earth tones will let the brick’s rich texture and color shine through.
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