Not Ready to Buy a Home Now?

No worries. Start your research now. You don’t know what you don’t know. 💡

Don’t start by looking at houses or condos. Instead start by connecting with a lender. A lender will let you know what you need to do to qualify for a mortgage. It’s not necessarily that you need to make more money. Perhaps you need to eliminate some debt (not necessarily all of it either!), or improve your credit score (are your credit reports accurate?). A lender can look into that for you to give you advice that is personalized to you. There are also many first-time homebuyer programs available to assist with down payments.

I also have lots of personally written valuable information for homebuyers and home sellers on my website. My article on improving your credit score was from my personal experience. In fact, I recently went to a class on this topic from a big-name banker and I could have taught the class myself!

Contact me directly if you have any questions!

(206) 866-8090
kelly right real estate

Effects of Interest Rates on . . .

Why are real estate brokers harping on buying a house now due to low interest rates?? Here’s a visual! Your buying power increases as interest rates drop. There’s a huge difference between a $500,000 home and a $700,000 home. Alternatively, if your goal is to keep your monthly payment low but buy the more modest house, now is the time to do it because interest rates will keep your payments lower. Click here to go to the home buying section of my website.

6 Benefits of Small House Living

When I first moved into a bigger apartment, I was really surprised that I missed my first TINY apartment…a lot! Not because it was my first place, but because it was so easy and fast to clean! (I could vacuum it with a hand-vac, ha!). Plus I had a place for everything and everything was in its place; it was my perfect little dollhouse.

Although I’m older now and in a not-too-huge house of my own, there’s much to be said about small-home living. Here are just a few benefits:

1. Gain TIME – It’s easier and faster to maintain.

A bigger house has more nooks and crannies to gather dirt and dust and STUFF that gathers its own dirt and dust. Having a small home allows you to keep it super clean and tidy with minimal time and effort, freeing your time for what you really want to do: gardening, biking, spending time with friends, studying, crafting, traveling, you name it.

2. A small house is less expensive.

It isn’t just the purchase price that’s less, but also the heating and cooling bills, maintenance costs, insurance, and taxes. That adds up! What are some goals you have that could be met faster if you didn’t have such a huge mortgage or maintenance costs?

3. Closeness encourages closeness.

You can’t help but be close to people you’re literally close to! You’ll never regret spending dinner with your kids and spouse close together at a table talking and enjoying a meal. In a 3,000 SF house, it’s easy for one person to spend it playing games downstairs while another spends it watching a movie upstairs. Where’s the connection there? When you’re together, you can’t help but to start chatting, sharing, or just enjoying each other’s company in silence (my favorite, haha!).

4. Easier to sell later.

Smaller homes are in more demand than big expensive ones because a wider range of folks can afford them – Generation Z just starting out, empty nesters, first-time homebuyers at any age, middle income families, and just plain frugal folks (that’s me). You’ll really appreciate the fast sell when you need to relocate to another state for a job or family. OR, keep it as a rental. Smaller homes make great rentals. Plus because your mortgage is smaller, the going rental rate is likely enough for your renter to cover all of it PLUS enough to put aside for repairs and maintenance. That’s a great way to build real estate equity for free!

5. Less likely to accumulate clutter.  

For me, physical clutter is mental clutter. Living in a small home means one is more likely to give away stuff that’s no longer needed but useful to another.

6. Reduced commute.

Houses in the city cost more but they’re also closer to work for many. What does a reduced commute mean to you? Maybe more time with the spouse and kids? More time to get to the gym? More time to work on your side gig? Less irritation with traffic? Decide on being content with a smaller home and you’ll get closer to the city and perhaps closer to some of your time management and financial goals.

Written by Daisy Casillas, 1% Real Estate Agent