I Just Bought My First Home, Do I Really Need an Estate Planner?

 

Owning your own home has always been a core part of the American dream. That’s why the purchase of your first home is always a major milestone in your life. But beyond that, it’s also the beginning of some major new responsibilities you may not have considered.

The most obvious responsibilities are that you’ll need to pay a monthly mortgage bill and spend whatever’s necessary to maintain your new home. And that’s not all. You also need to start thinking about what would happen to your home if you became disabled or unexpectedly passed away.

And to plan for unexpected events like that – you need an estate planner. Hiring one is something many first-time homeowners neglect to do, and it’s a mistake that can have dire consequences. Here’s why, and how an estate planner can help you protect both your home and your family from the unexpected.

Why You Should Hire an Estate Planner When You Buy a Home

For most people, their primary home is their biggest and most valuable asset. For that reason, most first-time homeowners have the majority of their money tied up in the purchase of their homes. And as you make payments on your mortgage, you’re building equity in your home that contributes to your overall wealth.

But there’s a catch. First, it’s that you don’t own your home until its mortgage is fully paid. The bank does. And second, if the mortgage is in your name, your home – and the equity in it – won’t automatically transfer to your next of kin if something were to happen to you. And that’s why you need an estate planner. They can map out a strategy for you to protect your home equity and make sure that your family has the rights you want them to have.

Navigating the Probate Process

An estate planner will be familiar with the probate laws in your area and will help map out a plan to protect your assets in the event of your death. In the case of your home, that’s a big deal. In California, for example, any asset worth more than $166,250 won’t automatically pass to your next of kin, and will instead end up in probate court. It’s important to note that the law deals with the value of your assets – not the equity you have in them.

That means if you’ve purchased a million-dollar home, and have $800,000 outstanding on your mortgage, the probate court will still value the home at a million dollars. It doesn’t matter that you only have $200,000 in equity in the home. And that’s what makes California estate planning so critical. A proper estate plan will make sure that your family doesn’t end up in a protracted fight in probate court over your biggest asset.

How an Estate Planner Can Help

There are a few ways that an estate planner might help you. They may advise you to take out an insurance policy worth enough to pay off the mortgage on your home. That way, your family won’t get stuck with payments they may not be able to afford. Then, they’ll advise you to place your home into what’s known as a revocable trust. That will allow you to name a beneficiary who will assume your mortgage almost immediately upon your death. Having one in place will speed up the probate process since there won’t be any questions about the rights to the home.

They’ll also know how to deal with the bank that holds the mortgage on your home. Many lenders try to prevent homeowners from placing their homes into trusts. This is because many mortgages have what’s known as a “due on sale” clause. And although you might not know it, they define any event that terminates your ownership of the home as a sale.

In other words, the death of the mortgage holder would trigger the clause, allowing the bank to demand full repayment of the loan immediately. This would mean that your family has to either come up with the necessary money in a hurry, or they’d need to sell the home under duress. And even if you have an insurance policy to cover the costs of the mortgage, it may not pay out fast enough to satisfy the bank.

Plan Ahead to Avoid any Problems

The bottom line here is that buying your first home gives you plenty of reasons to contact an estate planner. It’s a necessary part of the process that you wouldn’t want to leave to chance. And having a proper plan in place will help give you peace of mind and the knowledge that the biggest investment of your life will end up safely in your family’s hands if something unexpected should happen. And in that way, you can protect your family’s slice of the American dream – no matter what the future brings.

 

Moving Mayhem: Should I DIY my Move or Hire Pros?

 

Moving is among the most challenging tasks you will ever have to do, merely because of the number of separate tasks that must be completed. A common decision you’ll need to make is whether to move yourself or hire professionals. Both options have pros and cons, and it is important to look at all your options before making a decision. This guide will help you evaluate which path is best for you.

 

DIY Move

 

Pros

 

Save Money

Relocating on your own will cost you only the cost of packing supplies and maybe renting a truck. Relocating containers are another excellent cost-cutting alternative.

You Set the Schedule

When you move yourself, you can set the schedule on your own time. When something pops up that causes a change in your plans, there will be no cancellation costs for changing your relocation date.

You Have Greater Control

If you are in charge of the relocation, you have complete influence over how your belongings are treated, how the moving vehicle is loaded, and when the relocation occurs. You make all the decisions regarding the entire moving process.

You Can Avoid Being a Victim of a Scam

While the majority of moving firms are trustworthy and dependable, others are out to con you your money. Moving oneself reduces the likelihood of this happening.

 

Cons

 

Great Deal of Hard Work

Moving is hard, which is why so many people employ professional movers. Not only must you carefully pack all of your things in wraps and boxes, but you must also make sure they make it onto and off of the truck without being damaged. If either of your homes have stairs, you’re in for a long day.

Physically Exhausting

Without using the proper form, lifting heavy boxes and furniture can seriously injure your back. Even if you recruit the assistance of some muscular pals, you are still vulnerable to serious injury.

Inadequate Experience

If you aren’t in the moving profession, odds are you don’t recognize how to move heavy objects, safeguard your furniture, or pack or drive a moving truck. Lack of experience puts you in danger of damaging your belongings or injuring yourself.

You Might Take More Days Off Work Than Expected

Moving yourself would almost certainly necessitate more time away from work. You may save money up front by moving yourself, but if this comes at the cost of taking off work, it may no-longer be cost effective.

 

Hiring Professional Movers

 

Pros

 

You’ll Have Much More Time to Concentrate on Other Activities

With a moving company loading, transporting, and sometimes even packing your possessions, you will have more time to concentrate on the many other things that need your attention—looking after your kids and pets, setting up utilities in your new home, and updating your postal address.

Less Responsibility

Hiring movers allows you to delegate responsibilities and reduce some of the stress of relocating. That way, they can keep an eye on everything, and you won’t have to worry about the minor (or major) details.

They Handle the Heavy Lifting

Leave the hard lifting to the experts. After all, these professional movers were engaged for a specific reason. They have the skills, tools, and physical ability to move your furniture and belongings safely and efficiently.

They are Experienced and Efficient

Most movers are experts who know how to protect your furniture throughout the move, how to safeguard your home’s walls, floors, and entryways, and how to position your possessions on the moving vehicle in the most effective way to preserve space and avoid a disaster. Hiring movers increases the probability that your relocation will go ahead smoothly.

Cons

 

It Could Be Costly

Hiring professionals can be expensive based on the size and distance of the relocation. A local household’s average relocation expense is about $2,300! What a splurge! Even if you’re only relocating down the block, hiring a mover will set you back quite a bit of money.

Less Flexible

When you hire professional movers, you lose quite a bit of control over your relocation. Life is unpredictable, and if an emergency stops you from relocating the day you scheduled your movers, you might be levied a cancellation fee to compensate for the inconvenience.

Impersonal

You probably don’t know the movers personally. Most people would agree, entrusting your personal belongings and valuables to strangers can be nerve-racking. That is why it is critical to conduct your research, read reviews, and compare ratings before hiring a mover to assist you with the relocation.

The option of whether to relocate yourself or employ experts is particular to your personality, requirements, and the details of your relocation. A DIY relocation will be considerably more challenging if you are relocating long distances or have a large property. In addition, if you have kids and other obligations to attend to, hiring a moving company will make the procedure much smoother and less stressful. Nevertheless, if you are unmarried, on a tight budget, have a tiny house, and have little furniture to move, a do-it-yourself relocation may be a better option for you.

Before making a choice, examine your situation: what’s most vital to you—control, safety, timing, simplicity of use, and price are all essential aspects to consider when determining whether a DIY move or hiring professionals is the right move for you.

 

7 Stylish Wood Floor Patterns for Your Home

 

Choosing a pattern for your wood floor is a crucial decision in a construction or renovation project. The wood flooring pattern shapes the floor’s appearance and impacts the flow of the room. Furniture placement also largely depends on the flooring pattern. Although the material used is similar, the right installation pattern will have a huge impact on the overall look.

With the variety of choices available in the market today, it is easy to feel overwhelmed. A good idea is to seek professional help from the professional wood flooring experts. When you do, let them know your needs and wants, or any ideas you might have to give them an idea of where to start.

Picking the right flooring patterns will transform your space and express your unique style. Check out these seven best ideas for wood flooring patterns:

1. Straight Pattern

The straight pattern is the most common wood flooring pattern. It has been around for decades. This simple yet clean and modern look flows beautifully through any home, and it will never go out of style. It’s executed by installing the floorboards parallel to each other along the width or length of a room.

This creates an illusion that a room is wider or longer than it is. A straight pattern enhances the look of wood and can be used to create contemporary, yet simple, designs. It is also the most cost-effective and easy to install. 

2. Diagonal Pattern

This type of wood flooring patterns is similar to the straight one with one notable difference: it runs from one corner to another instead of wall to wall. Executing this design requires a high level of experience and skill. The pattern adds a formal touch and luxury to a space while maintaining the traditional straight installation of hardwood floors.

The floorboards are installed parallel to each other and laid at an angle of 45° to the walls. A diagonal pattern maximizes the length of a room and makes space appear larger. It’s ideal for tiny spaces such as those in apartments and condos. If a room has a rather unusual shape, this pattern is the ideal option as it ensures the floor doesn’t look off in comparison to the structure of the walls. 

3. Random Pattern

A random pattern is quite similar to a straight pattern, the obvious difference is in the width of the boards in each row, which vary in size. One could be 5 inches, the other 7, and the next 4, but the pattern itself remains consistent. The design introduces movement and dimension to the eye and space in a room.

In older homes, the planks were cut to achieve different widths and utilize as much wood as possible. A random pattern gives you more customizing options and adds a rustic, energetic feel to a space. 

4. Basket-weave Pattern

One of the main benefits of using this pattern is that it fits in almost any space regardless of the room’s size. It is mainly made from maple and oak and laid diagonal or parallel to the walls of a room. Generally, lighter colours are preferred, but you can spice things up by using darker species, such as walnut, which acts as an accent to the pattern.

A basket-weave pattern can add dimension to any space with the woven appearance of planks fitting over and under other planks. This flooring pattern is intricate, but it adds depths of visual interest and texture. 

5. Brick Pattern

A brick pattern is supposed to resemble traditional brickwork. It is a simple design that can be used on the whole floor, or just a small area, which can then be surrounded by borders. The “bricks” are alternated vertically and horizontally to add interest and visual appeal. You can use this pattern to complement other complicated designs and add a rustic feel to the space. 

6. Herringbone Pattern

The herringbone flooring pattern is one of the latest trends in home design. It can be described as a diagonal, zigzag pattern that is found in many homes today. This pattern is used for hardwood floors, backsplash and tile. In a word, it is the new parquet and resembles a twilled fabric laid out in square sections or the traditional manner.

Herringbone wood pattern floors are common in distinguished European Chauteaus. It is commonly mistaken for chevron and French herringbone. The wood pieces are specifically cut at an angle of 90° on both ends. This angle-cut has a huge impact on the style when the floor is laid down.

The herringbone pattern also offers a variety of customizing options as you can choose the type of wood you want and whether to place the boards vertically or horizontally, or decide to have a border or not. 

7. Chevron Pattern

A chevron pattern shares many similarities with the herringbone pattern, but it has some notable differences. Both chevron and herringbone use equal-sized woodblocks arranged in a zigzag pattern. The difference is that in a chevron pattern, the woodblocks are cut at an angle to create a straight line where the end of each piece meets the other. This pattern was used to decorate Versailles and was preferred over the “traditional parquet de Versailles.”

 

3 Mistakes to Avoid When Buying Your First Family Home

 

Buying a family home is the dream of a lifetime for many, and it comes with a lot of excitement and stress. You want to make sure that you pick a house that you and your family will enjoy for years. You also want to make sure that it won’t turn into a money pit and that you’ll be able to get value for it if you decide to sell it at a certain point in time.

3 Mistakes to Avoid When Buying Your First Family Home

You can’t let emotions dictate your decision and pick a home just because you feel it’s the one. You need to make sure that you know what you’re getting into and what to look for. Let’s take a look at some mistakes to avoid when buying your first family home.

Working with the Wrong Agents

Not all real estate agents are the same. Some people deal with luxury units principally. While they may be able to find a great family home for you, you might not be their priority and you can’t expect them to work as hard for you as they do for their multi-million clients. You want to consider the portfolio of the people you’re going to deal with and make sure that you’re on the same page.

People like kerbyandcristina.com are a great choice if you’re looking for a family home. They know these types of properties in and out and have served thousands of families over the years. You want a team with a solid track record for working with people like you if you want to get the best deal possible.

Only Looking at Single Family Units

When most people think of a family home, they usually think about a single-family home. While it’s all fine and good, buying this kind of property as your first is not always the best idea. The thing is that you could have a property that generates revenue if you are ready to spend a little more. Some even decide to buy an empty lot and build a multi-unit property. This way, you’ll have somewhere to stay and have the rest of the tenants can help pay the mortgage on the property. Once you have enough equity, you could leverage it to buy the single-family home you always wanted and have one extra free unit to rent.

Wanting Everything to be Perfect

Maybe you had this image of the perfect house in the perfect neighborhood at the perfect price in your mind. However, we’re here to tell you that this place probably only exists in your dreams. If you’re going to buy a house, you’re going to have to make some compromises.

You might not get the view you wanted, or be closer to the main road than what you had in mind. Maybe the exterior architecture isn’t exactly what you were looking for, but the price is right and you love how the interior is configured. In these cases, it might be a better idea to go for the best deal and learn to love the house’s little kinks.

These are some of the most common mistakes to avoid when buying a family home. Make sure that you have the right people by your side, and don’t rush the process if you don’t want to end up with regrets.

 

How to Hook Your Buyer with the Right Photography

 

“A picture is worth a thousand words.” We have all heard this sentence at least once in our life, and yet it doesn’t ring more true than when it comes to Real Estate Photography. This article will tell you the best ways to hook a buyer with the perfect real estate photographer.

How to Hook Your Buyer with the Right Photography

Today nothing is more popular than the internet, especially when it comes to buying certain things. Whether it be a new pair of shoes, a car, or even a home; it all starts online. Many sellers only post one or two photos of their home, which results in a lack of interest from potential buyers. Therefore, the property might sit on the market for months. Professional photographers take multiple high-quality photographs that lead to more showings of the property and faster pending sales. First impressions can be the difference between an interested buyer or a perfectly adequate home being passed over, which explains why having the right photographer is vital.

Now I bet you are wondering, “what exactly is real estate photography?” Individual companies hire expert photographers to capture the perfect essence in a home. They use certain angles and lighting to get the perfect shot every time. That way, when customers are browsing online and see a house that catches their eye, it is mostly because of real estate photography. First impressions stick with people forever, so having a striking photograph for the home at first glance is a must.

“How to tell if a photographer is an amateur or a professional?” If you have ever browsed online where lots of homeowners have tried to take photos to sell their home, the lighting is dark, angles are odd, and the photograph itself looks grainy, most likely taken with a smartphone camera. When you get a professional photographer, it changes everything. The angles they use to make the rooms look more substantial, the lighting is flawless and bright, and because they use professional equipment, it always optimizes the very best features of your home. For example, the company Home Shots has very professional photographers who have been providing fantastic real estate photography in San Francisco services for the last 5 years.

The last question I bet you have is, “how much does a professional photographer cost?” Depending on the company, it can range anywhere from a few hundred dollars up to a few thousand. The price depends on the location, size of the home, and how experienced the photographer. It will attract more potential buyers and add income to your pocket. With excellent photography, you can get multiple bidders on the house and make the price go up due to a bidding war. So, in the end, it is worth it to hire a professional photographer to make the property look as good as it can be. That way, you will have multiple interested parties and are more likely to sell the home quickly.

Even though hiring a professional real estate photographer will cost some investment, the return will outweigh the cost in the long run. You will have flawless photographs that show areas of the home that are well lit and look large (even if the space is tight and cramped), you will attract buyers more efficiently, and the best part is that you could sell the home reasonably fast. You get back what you put in when it comes to selling a home. If you take the time to make the house look appealing, hire the correct people to photograph it, and then list it on the appropriate markets, you will get a higher return on your investment. Like the famous quote states, “With high risk comes high reward.”

 

How to Sell a House During a Pandemic

 

The current pandemic has changed life as we know it. Right now, if you want to sell your home, you will have to approach it in a completely different way. Depending on whether you need to isolate, you may not even be able to welcome viewers to your property. The good news is that it can still be listed on the open market, and as long as the price is right, you’ll find a buyer.

How to Sell a House During a Pandemic

Staging the Property

Staging a property makes it more attractive to buyers. However, you might not want professional stagers traipsing around your home at this time. Strangers are potential disease vectors, and any new furniture brought into your home could be infected with the virus.

One way to avoid being infected is to use a virtual staging company.

What is virtual staging? Virtual stagers use software to remodel your rooms virtually. This is especially effective if your home is slightly dated or has a bespoke look your buyers might not appreciate. It’s also cheaper than a traditional staging company, so it’s definitely worth considering.

Virtual Viewings

Viewings can be done virtually, too. Instead of inviting buyers into your home, you can let them view it all via a virtual 3-D tour. It’s not quite as good as an actual tour, but it does let buyers see the layout of each room, so they can decide whether the property meets their requirements. If they decide to take it further, you can then offer them a virtual viewing via video link.

Use software such as Facetime to show people around your home. You can do this yourself or ask the realtor to do it for you. Viewers can request a closer look at anything of interest and you or the realtor are on hand to answer questions. It’s a great way of showing off your home without risking infection.

Open Weekends

Instead of booking regular viewings as normal, organize an open house event and get it over and done within a couple of days. Open house viewings tend to be popular, and when organized in advance, they can generate a nice buzz of interest in the property.

The great thing about an open house event is that viewing slots can be booked by appointment and social distancing measures adhered to. Your realtor can show viewers around, with everyone wearing masks and using handwash stations at each entrance.

If you prefer not to be involved, you can stay somewhere else for the weekend, such as in a hotel. This ensures you are not coming into contact with multiple strangers.

Extra Hygiene Measures

It’s vital that extra hygiene measures are adopted when you are conducting viewings or showing realtors around your home.

  • Make sure everyone wears face masks and takes off their shoes before they enter the property.
  • Maintain social distancing at all times.
  • Ask visitors to use hand sanitizer before touching anything
  • Once visitors have left, wipe down all door handles and surfaces, to minimize the risk of infection

Follow the protocols above and you can keep yourself and your family safe while selling your home.