Now in its 41st year, The Great Reno Balloon Race is the world’s largest hot-air ballooning event and one of Northern Nevada’s most sensational traditions. Held at Rancho San Rafael Regional Park in Reno, the Race will take flight from September 9th through the 11th this year, which is right around the corner! For four days, you’ll be able to look up into the Reno skies and see a rainbow of colored masterpieces soaring above.
From its humble beginnings in 1981, the event started with a mere 20 balloons. Now with over 100 awe-inspiring balloons taking to the sky every September, the race has become a beloved community tradition. Children who attended the event in the early years now have children and grandchildren of their own that they bring to enjoy the festivities. With an average of 130,000 spectators attending this four-day production, both young and old are enchanted by the fascinating sights and sounds of the magnificent balloons. The number of lives touched by the delightful spectacle continues to rise just like the balloons themselves.
Super Glow Show
Spectators are invited to arrive as early as 5:00 am each morning with warm beverages and cozy blankets for the Super Glow Show just before the sun peeks above the horizon. This stunning performance showcases 35+ balloons glowing and gleaming to music across the field.
Dawn Patrol
Following the Super Glow Show, a handful of balloons qualified to fly in the dark take to the early morning sky. The balloons glisten and twinkle as they pass through the darkened sky with choreographed music.
Mass Ascension
Mass Ascension starts at 7:00 am, and a dazzling display of over 100 balloons will begin to launch! A select group of balloons will also kick off the competition portion of the great race!
Tethered Rides
The RE/MAX balloon will provide tethered rides for children at approximately 7 am. These rides are available to the general public for a $5.00 donation to the Children’s Miracle Network. Our team will be out on the field on Friday morning, and we would love for you to come and say hi!
This family-friendly event brings a smile to every face in the valley, and we hope to see you out there!
There’s no shortage of things to do in Reno! Follow our blog, and contact the David Morris Group if you have questions about the Reno real estate market. Give us a call at (775) 828-3292. We’re happy to be your guide.
https://davidmorrisgroup.com/wp-content/uploads/2022/08/The-Great-Balloon-Race-David-Morris-Group-Reno-Real-Estate-Sparks-Real-Estate-homes-in-Reno-homes-in-Sparks-local-real-estate-market.jpeg8481200Shauna Morrishttps://davidmorrisgroup.com/wp-content/uploads/2015/03/david_morris_head_logo.pngShauna Morris2022-08-29 19:17:282022-08-29 19:17:28The Great Reno Balloon Race
In a competitive housing market, buyers are pulling out all the stops. You may have enough money to buy a house with cash. But is that a wise decision? As with many major financial decisions, there are pros and cons. Here are things to consider with a cash offer.
Savings & Interest Rates
Amortization is everything when considering financing over a cash purchase. Paying cash will save money on the overall cost of a new home in reference to the interest you’ll pay over the term of a loan. By the time you finish paying off a mortgage, the house will have cost you more than the initial purchase price because of the interest.
Attention of Buyers
A cash offer will likely give you an advantage in a competitive market. It can make all the difference in a multiple offer situation where everyone else is financing the purchase. Sellers will be more likely to accept a cash offer than one with a financing contingency. For example, a cash offer doesn’t require an appraisal on the property, so there is no risk of the deal going south.
Closing Cost & Time
More closing costs are involved in financing a property than paying in cash. For one, you won’t have to deal with a lender or their team of underwriters, and again, you won’t have to pay for an appraisal. The closing process typically takes around 30 days with financing, which can be shortened to as few as ten days with cash, which could be very attractive to sellers.
Long-Term Opportunity Cost
While you will save money by not paying mortgage interest, putting all your assets into a home could yield less money to invest in other endeavors. Tying up all of your liquidity on one asset could potentially cause you to miss out on a return that will be much larger over time. For example, while property typically accrues in value over time, it might not offer the same rate of return as investing in the stock market. One broker explained it best: “you could be making money with your money instead of locking it up in your home.” On the flip side, it’s a pretty great feeling to relax in a home that is 100% paid for rather than paying interest to big banks.
Emergency Funds
While owning your home outright can provide peace of mind because you’ll never have to worry about a mortgage payment, you don’t want to have all your money tied up in your house. You must have enough cash to cover maintenance expenses and emergencies. Homes aren’t always what they seem when glistening on the market. Once you begin to peel that onion, you’ll need enough liquidity to fix it up and make it yours.
Paying cash for a home instead of financing all or part of it is a big decision and should be made with the help of a trusted financial advisor. It is essential to consider all the above factors and ensure your short-term intentions align with your long-term goals.
If you are considering buying or selling your home and looking for a great REALTOR® to show you around the Reno-Sparks area, contact the David Morris Group. We’re happy to be your helpful guide. Give us a call at (775) 828-3292.
https://davidmorrisgroup.com/wp-content/uploads/2022/08/Things-to-Consider-with-a-Cash-Offer-David-Morris-Group-Reno-Real-Estate-Sparks-Real-Estate-homes-in-Reno-homes-in-Sparks-local-real-estate-market.jpeg8481200Shauna Morrishttps://davidmorrisgroup.com/wp-content/uploads/2015/03/david_morris_head_logo.pngShauna Morris2022-08-22 16:06:362022-08-22 16:06:36Things to Consider with a Cash Offer
Going back to school is an exciting time for children! They look forward to seeing their friends and possibly meeting new ones. It can also be a time of unforeseen dangers, however. Here are some essential back-to-school safety tips.
Strangers
Talk to your children about who is authorized to pick them up and never to accept a ride from a stranger (even if the stranger knows their name). Some families have a code word that only they know, and if a stranger doesn’t know the family word, the child knows that person is not allowed to give them a ride. Be sure your child knows your phone number and address by heart and who to call if they cannot get a hold of you. Be sure the school has up-to-date contact information for your household and a list of trusted adults authorized to pick them up from school.
School Bus Safety
Talk to your child about exiting the bus and being on the lookout for passing cars. Most motorists are respectful of a stopped school bus, but there’s always one person not paying attention. Get to know the other parents of children who ride the bus. This will ensure that someone you know is looking out for your child when they get dropped off if you’re not there to pick them up immediately. Getting to know the school bus driver is also a good idea.
Walking Safety
Children should know to walk in a group if possible. This offers safety in two ways: it provides protection from someone who may wish to harm a single student, and a group of students will be more visible to drivers not paying attention. Make sure your child knows traffic rules, how to cross at the crosswalks, and to always walk on the sidewalk or path. If there are no sidewalks, teach your child to walk facing traffic as far to the left as possible so they can be aware of what is coming towards them.
Biking Safety
Before your child starts riding their bike to school, be sure to teach them the rules of the road while riding. Some motorists won’t yield to bicycles, and one slight mishap could be catastrophic. And, of course, helmets are non-negotiable.
While our area is a fantastic place to live with beautiful homes and great schools, the world isn’t as safe as it once was. Children need to know how to be aware of their surroundings and when something is ‘off.’ The more vigilant they are, the better off they will be!
For more information about our community and homes available in the current market, contact the David Morris Group. Call us at (775) 828-3292, and we’ll be happy to help you begin your home search.
https://davidmorrisgroup.com/wp-content/uploads/2022/08/Back-to-School-Safety-Tips-David-Morris-Group-Reno-Real-Estate-Sparks-Real-Estate-homes-in-Reno-homes-in-Sparks-local-real-estate-market.jpeg8481200Shauna Morrishttps://davidmorrisgroup.com/wp-content/uploads/2015/03/david_morris_head_logo.pngShauna Morris2022-08-09 13:20:182022-08-09 13:20:18Back to School Safety Tips
The most popular home design trends help us understand society’s overall mood and provide new ideas on how we want to decorate our own homes. Here are the top trending colors, materials, and styles that homeowners are using.
Color
There is a renewed interest in adding bright and bold colors to interiors, which is definitely a departure from the grey and beige of the past. This is a sign that folks are feeling more adventurous and optimistic. Bold colors and warm natural materials create a more interesting and welcoming space. This trend could be a post-pandemic effect; folks discovered that their space lacked uniqueness and style after being holed up in their homes for almost two years. A renewed interest in authentic decor that is joyful and inviting and reflects their personality has led to a demand for folks to reinvent their interiors.
Wallpaper
Homeowners are ready for a more lively interior. As a result, many interior designers have noticed a renewed interest in bold and unique wallpaper. It adds personality and style to a space that paint cannot accomplish alone.
Warmth
Creating a home that feels like a haven from the stresses of daily life is still very important. Folks want it to be a place to rest, relax and recharge. As a result, homeowners have been moving more toward finishes that add softness, warmth, and texture to their rooms.
Green has been a repeated hue in trend talks over the past couple of years. But lately, designers say there’s an increased interest in sage green, from walls to kitchen cabinets. Soft gray hues and wood-tone decor also bring a warm aesthetic into homes.
Natural Materials
Natural materials rarely go out of style, but they’ve spiked in popularity lately. These materials include the previously mentioned natural wood elements as well as various stone accents. Folks are using materials that feel more established or handmade and more authentic to their space.
Textures
Textural elements create inviting elements in a space. Texture awakens the senses and invites folks to reach out and touch while being at peace and relaxed. Items like wood, rattan, pottery, and metal, mixed with soft or smooth fabrics, create a visual feast for the eyes.
You may already have some of these items in your home that you’ve put away or long forgotten. Perhaps it’s time to join in on some of these most popular home design trends and add some personal pizazz to your space!
If you’d like to stay up to date on what’s happening around Reno, follow our blog, and if you have questions about the Reno real estate market, contact the David Morris Group. We’re happy to be your guide. Give us a call at (775) 828-3292.
https://davidmorrisgroup.com/wp-content/uploads/2022/08/Most-Popular-Home-Design-Trends-David-Morris-Group-Reno-Real-Estate-Sparks-Real-Estate-homes-in-Reno-homes-in-Sparks-local-real-estate-market.jpeg8481200Shauna Morrishttps://davidmorrisgroup.com/wp-content/uploads/2015/03/david_morris_head_logo.pngShauna Morris2022-08-08 13:58:342022-08-08 13:58:34Most Popular Home Design Trends
You can achieve a mini home makeover without even leaving the house. There are more items in your home than you think, and a simple resurface or rearrange can make a big difference if your decor has gotten stale. Chances are you already own everything you need for an upgrade or fresh look. Here are ways to redecorate without buying a thing.
Bring in the Out
Introduce natural elements into your home by collecting fresh flowers or greenery from the yard or recent hike. Place them in containers around the house.
Light the Mood
Rearrange the table and floor lamps. Lamps create a cozy vibe, but different shades create different light effects. Switch lamps around in the spaces where you spend the most time and see if a different light has a different feel.
Rearrange
It may be time to rearrange your furniture if your living room feels stale. Angle the sofa differently or pull side chairs in from another room for different seating options. Switch out the side tables with other spaces in the home and see how it feels.
Refresh your Shelves
Remove everything from the shelves, then replace everything with a new arrangement. Or put things in different places around the room. This slight change could update the entire space.
Shop Your Storage
If you have an attic or garage, chances are there are forgotten treasures you can clean or repurpose and use inside your home. Style is cyclical, so the “outdated” accessories you once dismissed could very well be the newest trend again. Dust them off and work them back into your interior decor.
Switch Accessories
Shop the other rooms in your home for vases, decorative objects, and art. Taking an antique heirloom from the dining room and moving it to a shelf in the living room can renew its charm and showcase it in a more prominent location.
These simple changes can create new home decor without spending a dime or leaving the door!
If you’d like to stay up to date on what’s happening around Reno, follow our blog, and if you have questions about the Reno real estate market, contact the David Morris Group. Give us a call at (775) 828-3292.
https://davidmorrisgroup.com/wp-content/uploads/2022/08/Redecorate-Without-Buying-a-Thing-David-Morris-Group-Reno-Real-Estate-Sparks-Real-Estate-homes-in-Reno-homes-in-Sparks-local-real-estate-market.jpeg8481200Shauna Morrishttps://davidmorrisgroup.com/wp-content/uploads/2015/03/david_morris_head_logo.pngShauna Morris2022-08-01 16:41:202022-08-01 16:41:20Redecorate Without Buying a Thing
Real estate is in all the news today, and the noise is deafening. We want to take just a moment to paint a quick picture of what the market looks like locally. Here is a market update for Reno-Sparks:
Last 90 Days:
Out of 988 homes sold, the average close price was $788,824 – and they spent 64 days on the market.
Out of the 405 homes currently pending, their average list price is $859,025. Pending homes have now been on the market for 84 days.
What is this telling us? The average list price is higher, and they are taking longer to sell. Our market is still great; homes just aren’t flying off the shelves, so to speak.
What Does it Mean?
When looking at the sold homes and the adjusted list prices to sold price ratios, a negotiated price of + or – 2%-3% overall spread provides a fair give and take on values. The days on the market are in line with a rebalance of values. Again, that is good news if we want to see a softer landing than many are predicting.
As of the first of July, sales in the homes that have rebalanced their expectations remain strong, and the market is doing very well. The August/September numbers will be significant as we move through the rest of this year and where we stand on unsold inventory by September and price adjustments.
From this viewpoint, we expect a market correction of asking prices, sold prices, a flattening of values, and a rise in the low single-digit levels as we end the year (assuming another 1% interest increase).
How Does this Affect the Price of My Home?
In an upwelling market, raising prices quickly to ride a wave of price increases is one thing. In an adjusting market, it’s suicide not to adjust to the market swiftly. You’ll risk chasing a market down!
Should I List My Home Now?
For sellers on the fence, selling now is an excellent opportunity. Buyers are highly focused on quality and value, and inventory remains low. With the current interest rates, buyers are making offers. The key words here are that buyers are making offers. Overbids still exist, but fewer than before. Buyers will expect the seller to negotiate.
Is Now a Good Time to Buy?
Buyers waiting for some unrealistic bottom to develop will be sorely disappointed in the results and miss a host of great opportunities in this market. Yes, we will see some fantastic deals on the fringes, and the competition for those homes will be intense. We assume that interest rates will move significantly in the next 60 days. Time will tell.
Please review and call us with any questions, and you should have questions. A lot is going on with many moving parts. Remember, regardless of the “news,” our inventory is small; demand, even reduced demand, still exceeds supply.
If you’d like to stay up to date on what’s happening around Reno, follow our blog, and if you have questions about the Reno real estate market or if you’re ready to list your home, contact the David Morris Group. We’re happy to be your helpful guide. Give us a call at (775) 828-3292.
https://davidmorrisgroup.com/wp-content/uploads/2022/07/Market-Update-for-Reno-Sparks-David-Morris-Group-Reno-Real-Estate-Sparks-Real-Estate-homes-in-Reno-homes-in-Sparks-local-real-estate-market.jpeg8481200Shauna Morrishttps://davidmorrisgroup.com/wp-content/uploads/2015/03/david_morris_head_logo.pngShauna Morris2022-07-29 13:06:442022-07-29 13:06:44Market Update for Reno-Sparks
Our last blog covered ways to Beat the Summer Heat in Reno-Sparks, and we promised Lake Tahoe locations next. Here are some of the best spots to explore and enjoy that Lake Life!
Beaches
Whether you’re looking to swim or relax in the Sierra Sun, North Lake Tahoe beaches have something for everyone!
Kings Beach is one of the best beaches on the North Shore. It offers pristine, smooth sand and a family-friendly recreational area. The water is shallow enough for kids to enjoy. This site is also great for kayak, paddleboard, or jet skiing. There are restaurants, shops, and places to rent gear surrounding the area. It’s a one-stop shop for all-day fun.
Sand Harbor State Park is a popular spot along the east shore. The shoreline is a bit rugged, but it’s still one of the best beaches in North Lake Tahoe. Sand Harbor has picnic tables and a boat launch. There are kayak and paddleboard rentals. You’ll want to get to this beach early…the parking lot fills up fast!
Hidden Beach is located just south of Incline Village near Tunnel Creek Road. This beach is an excellent spot for avoiding crowds. There is also limited parking here, but it’s a hidden gem for those who arrive early and make the trek in. All along the eastern shore, remote spots are lined with Tahoe’s iconic granite boulders and only accessible by way of a short hike.
Chimney Beach is located about a mile from Highway 28 and is extremely popular during summer. Chimney Beach is dog-friendly and lined with rocks and deep water.
Zephyr Cove is one of the larger beaches at Lake Tahoe. Because of its size, this beach is an excellent spot for families, there’s usually no problem finding a place on the beach, but parking can fill up early. Amenities at Zephyr Cove include a small bar and grill with restrooms and water equipment rentals.
Nevada Beach is further south and close to the Nevada/California border. Amenities include a day-use pavilion with a BBQ station, restrooms, kayak rentals, and food concession. This beach is one of the few beach campgrounds on the lake, and it allows pets on a leash in the campground.
Pope Beach is located on the South shore and is worth noting. It’s lined by pine trees and great for swimming.
Lester Beach is located on the western shores of Lake Tahoe, also known as “Bliss Beach.” This beautiful beach is situated in D. L. Bliss State Park and the northern portion of one of the deepest portions of Lake Tahoe, known as the Rubicon Wall. While there is no designated swim area for beachgoers, and boat traffic is typical, some shallow spots are gentle enough for kids to splash around. There is limited parking, so visitors are advised to arrive early.
The North Shore offers various launch areas. Kings Beach and Incline Village are more leisurely trips for beginners. And Sand Harbor and Zephyr Cove provide a nice route with plenty of locations to stop and rest.
Intermediate paddlers can enjoy launching around D.L. Bliss State Park and Rubicon Point. These inlets provide gorgeous beaches and calm water. The southern route towards Emerald Bay is for more experienced kayakers; this route has an undeveloped shoreline, and the water may get choppy.
More advanced kayakers can experience the Lake Tahoe Water Trail. This trail goes around the entire 72-mile-plus expanse of Lake Tahoe and is broken down into seven segments.
SUP Spots
North Lake Tahoe has some of the best paddle boarding spots that offer stretches of shoreline only accessible from the water. Kings Beach and Sand Harbor are ideal spots. These areas provide coves cradled by rock formations, and the water is typically glassy and calm. Other places to paddle on the Lake include Fannette Island off Emerald Bay, D.L. Bliss State Park, Kiva Beach, Lester Beach, and Zephyr Cove. Adventure seekers can rent paddle boards at the same shops that offer kayak rentals.
Lake Tahoe offers miles of pristine coastline with many activities to enjoy. Check the Lake Tahoe marine forecast before heading out for a fun day on the water, as conditions can change in the blink of an eye.
To stay up to date on what’s happening in and around Reno, follow our blog, and if you have questions about the Reno-Sparks real estate market, contact the David Morris Group. We’re always happy to be your helpful guide. Give us a call at (775) 828-3292.
https://davidmorrisgroup.com/wp-content/uploads/2022/07/Lake-Life-David-Morris-Group-Things-to-do-around-Lake-Tahoe-living-in-Lake-Tahoe-Lake-Tahoe-Real-Estate-Lake-Tahoe-Realtors-1.jpeg8481200Shauna Morrishttps://davidmorrisgroup.com/wp-content/uploads/2015/03/david_morris_head_logo.pngShauna Morris2022-07-18 22:52:312022-07-18 22:52:31Lake Life
Reno packs some serious summer heat but also provides some of the best and most beautiful places to cool off! From Kayaking to water parks, we have plenty of cool activities to explore. Here are a few ways to beat the summer heat in Reno-Sparks:
KAYAKING
The Truckee River Whitewater Park is in the heart of downtown Reno. This 2,600-foot-long park has class 2 and 3 rapids for kayakers, canoes, and boats. Whether you’re a novice or new to the sport, kayak lessons and clinics are offered by Sierra Adventures.
PADDLEBOARDING
Stand-up paddle boarding (SUP) is one of the fastest-growing watersports. The Sparks Marina is an excellent location in Reno, and if you’re looking for more action, the Truckee River is a must! Lakeshore is based in Reno and has turned into a premier paddleboard spot. You can rent a paddleboard at Marina PaddleFit, and they offer clinics to learn new SUP skills.
TRUCKEE RIVER RAFTING
Reno is a perfect place for whitewater enthusiasts. It’s close to the Truckee and the Carson River, both of which have fantastic whitewater options. The Truckee River delivers some wilder rapids with classes 3 & 4 if you’re down for a hair-raising adventure, while the Carson River is known for its milder rapids. The most popular route down the Carson River is a 21-mile stretch called “Hangman’s Run.” Tahoe Whitewater Tours and Sierra Adventures offer excellent guided tours down the rivers.
FLOAT ABOUT
Truckee River rafting is right in the heart of the city, with easy access through Wingfield Park. The park is the endpoint for most float trips, and you can find plenty of places to launch your raft. Popular launching points include Crissie Caughlin Park, Dorostkar Park, and Mayberry Park. If you’re looking for something less extreme, floating the day away is a great way to enjoy the river without rapids.
RENO-SPARKS’ WATER PARK
Wild Island Family Adventure Park offers summer fun for everyone! With water slides, a wave pool, go-karts, mini-golf, and bowling, it’s a great way to wear out the kiddos and have a little fun yourself.
We haven’t forgotten about fun in the sun at Lake Tahoe ~ Keep an eye out for our next blog to get the latest on the lake’s summer options!
To stay up to date on what’s happening around Reno, follow our blog, and if you have questions about the Reno-Sparks real estate market, contact the David Morris Group. We’re always happy to be your helpful guide. Give us a call at (775) 828-3292.
https://davidmorrisgroup.com/wp-content/uploads/2022/07/Beat-the-Summer-Heat-in-Reno-Sparks-David-Morris-Group-Things-to-do-around-Reno-things-to-do-around-Sparks-things-to-do-in-Nevada.jpeg8481200Shauna Morrishttps://davidmorrisgroup.com/wp-content/uploads/2015/03/david_morris_head_logo.pngShauna Morris2022-07-07 15:04:132022-07-07 15:04:13Beat the Summer Heat in Reno-Sparks
America’s housing market has undergone some wild swings over the last two years, but it appears to be settling down a bit. According to Realtor.com®, the number of real estate listings rose by 18.7% this June compared with a year earlier. That marks the second consecutive month of growth and the fastest rise in inventory since July 2017. Of course, this new record growth has a long way to go before the nation’s housing inventory is back to its level before COVID, but it’s still a good sign.
The recent numbers correlate with the recent hikes in mortgage rates. Homes are beginning to remain on the market longer as buyers are being pushed out because they can no longer afford to buy. However, new data released by Freddie Mac on June 30th shows a pause in the mortgage rate increase. As a matter of fact, 30-year fixed rate mortgage rates have already begun dropping slightly. “The rapid rise in mortgage rates has finally paused,” Sam Khater, chief economist at Freddie Mac, said in a press release, “largely due to the countervailing forces of high inflation and the increasing possibility of an economic recession.” This pause will help the market rebalance itself and bring homes back to a more “normal” pace of appreciation.
What does that mean for sellers? List now or forever hold your peace! If you’re on the fence about getting your home on the market, now is a great time to get it sold. If you wait, you may have to settle for price reductions and more days on the market.
What does this mean for buyers? Negotiations are back! Sellers no longer have forty showings in one weekend, and concessions are back in play. Buyers have more time to make the right decisions and more options from which to choose.
The market is excellent for buyers AND sellers right now, and we are here to help! Contact the David Morris Group if you have questions about the Reno real estate market and surrounding areas. We’re happy to guide you through the listing or buying process as the market shifts! Give us a call at (775) 828-3292.
A home-buying experience can feel rushed and frantic. Add in rising mortgage rates, low inventory, and bidding wars, and the home-buying process is downright chaotic! For some, buyer’s remorse can creep in once they rush to buy and then begin to notice little things about their new home that they didn’t see before. According to a Zillow survey, 75% of recent homebuyers have at least one regret about their new home. Here are the most common home-buying regrets.
Missing the Bigger Picture
We are still in a seller’s market, meaning there are still more buyers than inventory. This shortage has caused buyers to feel pressured to grab the first home they can find rather than weighing their options more carefully. Fewer homes to choose from, coupled with competition from other hungry buyers, causes pressure. That pressure can cause buyers to miss the big picture. Not fully understanding a new home’s impact on daily life is the most common regret new homebuyers report. Buyers need to anticipate what life will be like in their new home one to five years down the road rather than what their lives are like at the time of purchase. Make sure the home fits the lifestyle you foresee, not the one you’re currently living.
The Importance of Location
Location is one of the most important factors when purchasing a new home. Buyers need to weigh the pros and cons of the neighborhood and community. The area needs to complement how you live, work, and play. Spending twenty minutes inside a property in the middle of the afternoon is only a fraction of the picture. Is there a time of high traffic that contradicts your work schedule? Are you near a school that will have speed limit restrictions and bumper-to-bumper car-line each day? The function and flow of the area are things to consider before signing on the dotted line.
Waiving a Home Inspection
A home inspection is an integral part of the home buying process. It lets you know what’s behind the freshly painted walls. In this competitive housing market, buyers look for ways to make their offers the most attractive, and several have waived the home inspection contingency. DO NOT do this! There could be hidden problems that lead to hidden expenses, and the only way to know that is with an inspection!
Aesthetics over Functionality
Aesthetics can sometimes distract buyers. The interior of a home on the market is cleaner than usual if not staged to look better. Buyers need to focus on the whole house and think about whether it will suit their lifestyle for years to come, not just today. If a newly renovated kitchen is still too small to meet your needs, you will regret it down the line, regardless of the new backsplash. Focus on things you cannot change, like size, location, views, and the actual bones of the home rather than a new farmhouse sink.
Maintenance Costs
Many buyers regret that they didn’t consider annual costs such as HOA fees, property taxes, and insurance fees before purchasing their home. These fees typically increase yearly, and if you’re barely scraping by in the first year, imagine five years down the line. Unexpected maintenance expenses such as plumbing, HVAC, a leaky roof, etc., are all things the home inspection report should outline, and they should be factored in as maintenance costs for the future if they don’t need to be repaired right away.
Buyers who know about these often overlooked factors understand what to look for and feel more secure about their purchase. Setting your priorities before buying will help you feel more confident about your home purchase down the line.
