Top 5 Home Renovations That Offer The Best ROI

If you want to sell your home quickly and get the biggest return on your investment (ROI), there are some home renovations you should most definitely consider. Even if your home is already in tip-top shape, doing some updates to keep up with home trends will help your home stand out among other listings. While there are many ways you can add value to your home, real estate experts know that these top five home renovations are the ones to focus on to get the best ROI.

Little Improvements Go A Long Way

If it’s not in your budget to remodel your entire house, do a makeover instead. Repurpose what you already have in order to make things look new again. Go through each room of the house and see what items you can update and stay within your budget. Some common eye-catching upgrades are to add metallic doorknobs and kitchen cabinet and drawer pulls. Perhaps you can update your light fixtures and ensure they all have the same sheen that goes with the look of your home. A well-lit home goes a long way over a house that appears dark and dreary. Washing your windows and changing window shades or curtains will also light up any room.

Freshly Painted Interiors And Exteriors

A fresh coat of paint brightens and makes everything look clean and new. Keep with neutral tones such as white, light grays, and cream. Painting is one of the most affordable renovations and is easy to DIY without hiring a contractor.

If you have paintable exteriors, give them a fresh coat of paint as well. An exterior paint job can increase your home value by 2 to 5%. Try painting your doors and shutters if you cannot paint the exterior siding. Painting the garage doors is a nice update. At the very least, doing a power wash to make the exterior clean and bright again is also an option.

Refinished Hardwood Flooring

Do you want to get an ROI of about 70 to 80%? Refinishing your hardwood floors dramatically increases the value of your home. If you don’t want to hire a professional, you can DIY it. Whatever you do, don’t cover your beautiful hardwood floors with carpet. That can actually cost you money.

Kitchen Renovations

If it fits your budget, a kitchen remodel is the one room out of the entire house that will give you the best ROI. Although kitchen remodels can be costly, they can usually give you between 50 to 75% ROI. If you had to decide between a kitchen or bathroom remodel, the kitchen is the one to go with.

If you can’t afford an entire kitchen remodel, you can still do some upgrades that will please potential buyers. You can reface existing cabinets, change the hardware, and update to modern plumbing and electrical fixtures. Aside from painting the kitchen walls, try painting the cabinets or kitchen island. Add new stainless steel appliances, and your kitchen can look brand new.

Garden Landscaping To Improve Curb Appeal

Going back to what brightening the home exterior can do for your ROI, improving your curb appeal will have the same results. The best way to do that is with your garden landscaping. While you don’t want to ignore the backyard, making sure the front view of your home is beautified will make potential buyers want to stop and take a closer look. You can expect the average ROI for your landscaping to be 100%!

Do a general tidy-up of the property. Mow the lawn, trim overgrown trees and bushes, and put down fresh mulch. You don’t have to go out and buy all new plants and flowers. A few lower maintenance plants will work. Potted plants on your porch or even hanging baskets of ferns will give the front of your home a welcoming appeal.

In Closing

If you are considering listing your home anytime soon, try tackling these small renovations and improvements early, so you don’t have to do too many at once. You will feel much more prepared to list your home when you spruce up the look inside and outside of your home.

What Are DFW’s Top 10 Architectural Styles?

Texas is rich in history, and many architectural styles reflect this. When searching for a new home in Texas, you will see many different cultural influences in the architecture. Many early settlers’ traditions are still present in modern-day Texas architecture. And, while the Dallas-Fort Worth (DFW) metro area has grown to be one of the largest urban cities in the United States, many of the homes in the suburbs reflect the history and culture of Texas. Here are the top ten architectural styles you will discover when searching for a new home in DFW.

DFW Architectural Styles

Mediterranean Revival

Texans love Mediterranean-style homes, particularly in the luxury home market. Reminiscent of seaside houses and palazzos in Italy, France, and Spain, you will feel like you are always on a coastal European vacation if you purchase one of these beautifully designed homes. The balmy summer temperatures and mild winters in DFW are also similar to the Mediterranean climate!

The Mediterranean Revival style of architecture became popular in the United States and Texas during the 20th century. These homes are usually designed with white stucco exteriors and red clay tile roofs. They may feature tall arched windows and wrought-iron balconies. You may also find beautiful Romanesque columns and pergolas and a central courtyard. The look unites the indoors and the outdoors.

You will find this style of home throughout DFW, particularly in the Highland Park, Cedar Hill, and Southlake neighborhoods.

French Provencal

The French Provencal style of architecture is also referred to as French Country. The look is inspired by the cottage-like homes in Provence, France, or the southernmost region in France. This look originates in rural parts of France and combines a charming chateaux design with a rustic farmhouse look. It pairs well with a heavy use of Texas stone and the larger lot sizes you will find in luxury home neighborhoods.

Today, the French Country look is recognized by a high-pitched roofline, French pale blue wooden shutters and exterior accents. Light-washed colors, distressed wood, and antique accents complete the look. Inside, you will see stone fireplaces and exposed wooden beams.

American Colonial

The American Colonial style of architecture dates back to the 1600s. The first thirteen American colonies on the east coast inspire this look throughout the nation. This style has been popular throughout the centuries, both in residential and commercial real estate properties. The look we now know as Colonial was popular in the 1800s.

Today’s Colonial homes typically include flat facades and central doorways surrounded by symmetrical windows and gabled roofs. These homes are almost always two or three stories rather than a single story. You may find brick exterior or horizontal siding. In DFW, the Colonial-style homes have an added roofed porch on the front to shield the front of the house from the Texas sun.

Tudor Revival

The traditional Tudor design home dates back to the 1400s, but this style became popular in new homes built in the 1970s and 1980s. The exposed half-timbered wood exterior is the most noticeable feature of a Tudor Revival home. They also feature steeply pitched roofs and overlapping gables. White herringbone brick or creamy stucco facades accentuate the architecture with the exposed wooden frames, creating a cozy charm.

In DFW, you will often see Tudor Revival-style homes in Greenland Hills and Hollywood Heights.

Contemporary

The clean, crisp lines of Contemporary architecture appeal to those who like a modern and sophisticated look. It’s often minimalist in design. With open floor plans, glass, and steel materials, you will have a lot of natural light within the home.

You will find Contemporary homes throughout Dallas, particularly in Oak Lawn, Turtle Creek, and Northwest Dallas. It is becoming more common to transform older traditional homes in Dallas into a remodeled contemporary design.

Ranch Style and Texas Vernacular

Ranch-style homes are not just for the country. Urban areas and luxury home developers love them, too. These single-level homes are perfect for those who don’t want stairs. The floor plans are usually open and easy to navigate. You will see ranch-style architecture with combined materials such as stucco, brick, stone, and wood. They often have overhanging eaves and large windows that bring in natural light. With plenty of access to the backyard, you can create a beautiful landscape to enhance the look of a ranch-style home. These are commonly found in North Dallas. More recently, Texas Vernacular style homes have been very popular in DFW. An Austin influence from early immigration days, Texas Vernacular homes feature a palatial, rectangular design with projected porches, stone facades, exposed wooden beams and brackets, then finished with a metal roof.

American Craftsman

This style was created by the British Arts and Craft Movement in the 1920s, often compared to the “California Bungalow.” This style of architecture is laid back, classy and comfortable. These homes have a low-pitched roof, a wide front porch with exposed wooden beams, and horizontal siding exteriors. The design emphasizes craftsmanship, so many of these homes will feature decorative eaves, handcrafted stonework, and exposed woodwork. The floor plans are often centered around a fireplace, creating a welcoming atmosphere for gatherings. American craftsman homes exist in a variety of shapes and sizes.

Victorian

The Victorian era in England introduced this architectural style in the late nineteenth century. Queen Anne Victorian homes are known for their decorative trim, often resembling gingerbread houses. Victorian architecture is also present in hillside mansions in DFW. You will recognize this style by its asymmetrical shape, large wrap-around porches, and steep towers. Many times the exterior is painted in bright colors in two or three colors to accentuate the features of the home.

Mid-Century Modern

During the peak of the 20th century, architecture shifted toward a streamlined and modern look. This style increased in popularity between the 1930s and 1960s. Frank Lloyd Wright was a popular architect during that time. The John Gillin Residence is the only Dallas home designed by Frank Lloyd Wright, but his legacy remains in DFW.

The mid-century modern style consists of abstract lines, minimalist interiors, exteriors, and open floor plans. North Dallas and Northeast Dallas areas feature many mid-century modern homes.

Dallas Eclectic

Finally, we have the Dallas Eclectic architecture style. It’s a spin on the French Eclectic style, only bigger and better. These homes are often built with grand proportions. They are known for their deep-pitched roof, creating an elongated silhouette. The Dallas Eclectic style borrows from the Beaux-Arts movement with highly detailed sculptural elements. It differs from the French Provencal architectural style, which resembles more of a country cottage. The Dallas Eclectic designs are perfect for Dallas’ large lot sizes and luxury home buyers looking for monumental mansions with French design.

What is your favorite architectural design? Contact us today so we can help you search for the perfect home.

How to Know Whether an HOA is Best for Your Next Home

Person Reading HOA Rules And Regulations Document

Shopping for a new home is a fun and exciting time! It can also be overwhelming. There are many things you need to learn and know about before purchasing a home, so research is a must. One of the things that people don’t always remember to ask about or research is Homeowners’ Associations (HOAs) and their rules and regulations. The Dallas-Fort Worth (DFW) area has an abundance of communities that an HOA runs. It’s important to understand how HOAs work, their bylaws, and covenants. If you are considering buying a home with an HOA, it would be best to research the requirements so you are not caught off guard on what you can and cannot do with your property.

What Is An HOA?

An HOA is a membership offered (and in most cases required) for homeowners of many gated communities, developments, apartments, and condos. The purpose of HOAs is for the upkeep of the property and rules of uniformity. The HOA’s goal is to maintain the property value of the homes in the community. They may also manage the community’s common areas and improve the residents’ quality of life.

In most cases, when you buy a home with a community that has an HOA, you automatically become a member. Each resident under an HOA must pay yearly dues or fees. Those fees cover the maintenance and upkeep of the private property (homes and yards) and the common property areas (clubhouses and pools). The services may include services such as landscaping, lawn mowing, snow and ice removal, garbage collection, and street-cleaning. Some HOAs may even provide security, law enforcement, and home and property insurance. If your community has a common swimming pool and clubhouse, dues also cover maintaining those costs.

What Is An HOA Covenant?

An HOA covenant can sound a little scary if you’ve never heard the term. You may also hear them called a Declaration of Covenants, Conditions, and Restrictions (CC&R). They are also sometimes called “restrictive covenants” because of the restrictions associated with them. The covenants are essentially the rules of the community. They outline the HOA’s obligations and rights to its members and the member’s obligations and rights to the HOA. They are legally binding and often enforced by fines, CC&R’s.

Are There Any Benefits Of A Home Owner’s Association Covenant?

Restrictive covenants can have both benefits and drawbacks for homeowners, so it’s important to understand the reasoning behind them. HOAs ensure uniformity and protect and improve your property’s value. There is often a focus on curb appeal because when curb appeal drops, so do property values. These restrictive covenants may stop your neighbor from allowing their house to deteriorate and decay, lowering your home’s property value. Keeping the neighborhood in top shape may help you to sell your home later.

Things To Consider Before Buying A Home With An HOA Covenant

When you buy a home with an HOA covenant, you agree to their rules, whether you like them or not. Keep these things in mind when considering purchasing a home with an HOA covenant:

You have limited control over your own property. You may not like people telling you what you can and cannot do on your own property. However, if you move into a community with an HOA and don’t abide by their rules, you will face penalties.
A CC&R is a binding legal document. If you think you will take the risk and do what you want, understand that it would make you violate a legally binding document. The HOA may have multiple avenues to correct violations. You may be surprised at how easy it is for an HOA to see when you have violated a rule.
You pay for the rule enforcement. HOAs are funded by their monthly fees from everyone in the community. The HOA fees can run anywhere from $100 to several thousand dollars per month, depending on where you live.

Examples Of Common Restrictive Covenants

The types of covenants can vary, but these are just a few of the most common ones you may see when shopping for a new home that is under an HOA:

Rent and lease restrictions

You will have to check your CC&R if you ever want to rent your home out. If you were considering investing in this property to use as a rental property, you might not be allowed to do so. This includes using the property as an Airbnb rental.

Restrictions on business usage

Your CC&R may prohibit you from operating a business out of your home. If you are self-employed, this may be a problem for you. Most HOAs won’t mind if you turn a spare bedroom into a home office. A business that increases traffic in the neighborhood or even having a large work vehicle parked in your driveway may be a red flag to the HOA.

Limits on pets

Some HOAs limit the types of pets you can have on the property. They may restrict the size, the pet, or even the breed of dog you are allowed to own. HOAs may frown upon certain breeds of dogs that have a reputation for being more aggressive. You may also have restrictions on breeding your pet and selling them from your home. And you can most likely forget owning livestock or even small farm animals.

Limits on exterior maintenance and construction

Remember that HOAs like uniformity? They can be downright picky on the paint color, and you may have to stick with neutral shades from their list of approved choices. There may also be rules about how often you mow the lawn, when you can put trash out, and even your holiday lights and decorations. You may not be permitted to modify the home’s exterior, build a shed, build a fence, or build a detached garage without first getting the design approved by the HOA.

The bottom line is that you should seriously read and ensure you understand the HOAs CC&R during the timeframe in your purchase contract. Carefully decide if any rules may be a factor during the years you will live on the property.

Moving To DFW? Here’s An Insider’s Guide To Southlake And Colleyville

If you are moving to the Dallas-Fort Worth (DFW) area, you might have difficulty deciding which of the fantastic towns and communities to call home. Working with a local Realtor can help you narrow down your choices based on your family’s needs and what you are looking for in a community. We’ve narrowed it down to two that stand out as they have a down-to-earth lifestyle and outstanding schools that are perfect for families. Here’s an insider’s guide to Southlake and Colleyville, Texas, two of the top-rated communities we serve.

Southlake

Southlake is a city located primarily in Tarrant County, with a small portion extending into Denton County. It’s an excellent location for travel lovers because it’s near DFW’s three airports: The Dallas Fort Worth International Airport, Dallas Love Field Airport, and Fort Worth Alliance Airport. Sports fans will love living so close to the Dallas Cowboys AT&T Stadium and the Texas Rangers Stadium!

Southlake’s Lifestyle

What’s it like to live in Southlake? You would live in the finest neighborhoods that feature beautiful architecturally designed homes. You can find your dream home in a golf course community or gated community. Perhaps you would prefer a luxury brownstone or condominium for a more urban lifestyle.

Enjoy a home that sits on equestrian paths or within walking distance of local coffee shops, shopping, and fine dining. In fact, Southlake’s Town Square offers over 100 luxury retail stores, boutiques, and many unique dining choices that meet just about any food craving!

When you aren’t enjoying your community swimming pool, clubhouse, tennis court, hiking, biking trails, and ponds, you can head to the nearby Six Flags Over Texas. Spring in Southlake means the Art In The Square art festival. And autumn brings Oktoberfest, Southlake’s annual German fest. These are just a few of the special events you will find in Southlake. There are also several children’s events and athletics events throughout the year. In fact, there’s so much to experience in Southlake. There’s an entire website dedicated to all of the fun activities! From Bob Jones Nature Center and Preserve to Bicentennial Park, you will never run out of places to explore.

Southlake’s Education

The Carroll ISD is a top-rated school academically with exceptional athletic notoriety in the Dragons, their mascot. Dragon pride runs deep in Southlake, so be prepared! You would be living in Dragon Nation!

Colleyville

Colleyville is also located in Tarrant County, a few miles from Southlake. It’s also near the Dallas Fort Worth International Airport. Colleyville is one of the best places to live in DFW, offering residents a rural feel while still offering all the perks of urban living.

Colleyville’s Lifestyle

Colleyville’s lifestyle is one to be envied by those who don’t reside there. The luxury homes and estates combined with great boutique shopping at Town Center Colleyville make this city one of the top-rated suburbs in DFW. Glade Parks is another nearby shopping destination.

When you aren’t shopping or dining out at top-rated restaurants, you will still find plenty to do in Colleyville. The Chamber of Commerce lists various events in Colleyville, so check there often. Colleyville has beautiful parks, nature trails, and playgrounds that are perfect for families. The Colleyville Women’s Club and Colleyville Garden Club are great places to meet new friends when you relocate here. And Lifetime Fitness is the place to go to stay active!

Colleyville’s Education

The Grapevine-Colleyville ISD offers a personalized educational experience with STEM, AVID, and dual-language classes. Covenant Christian Academy is another excellent choice for schools in Colleyville for those looking for private education. It is an accredited ACCS school and a member of the Texas Associate of Private and Parochial Schools. It is a non-denominational, classical, college preparatory Christian school for students aged three through grade twelve. Pre-AP, AP, and Dual-Credit are available.

Dallas Baptist University Hurst-Colleyville campus is also located in Colleyville for those who wish to further their education.

Other Great DFW Communities

Of course, Southlake and Colleyville are not the only two great communities in DFW. If you want to explore and learn more about our other great neighborhoods, visit our Communities page or simply contact us.

Pre-Summer Tips For Staying Cool And Conserving Water In The Texas Heat

Hot summers in Texas can be brutal! It can feel pretty miserable, but it can also wreak havoc on the environment, our landscaping, and our homes. Whether you were born and raised in Texas or are new to the state, it’s important to learn how to deal with our unique climate. The months from June through September can be sweltering in the Dallas-Fort Worth (DFW) area, and it’s often described as a humid subtropical climate. However, as the long summer drags on, particularly in August, the temperatures can climb to 100 degrees Fahrenheit or higher! Add dry winds that are common in DFW, and that can be problematic. That’s why conserving water is a must. Let’s look at some pre-summer tips to stay cool and conserve water this summer.

Staying Cool While Outdoors

We naturally want to be outdoors when the sun is out, and the weather is warm. However, sometimes it’s simply too hot to be outdoors for long periods of time. Limit outdoor activity to thirty to sixty minutes at a time, then take a break indoors where you are out of the sun and in air conditioning. On those extremely hot days where heatstroke is a risk, children and pets should stay indoors as much as possible. Also, avoid being outside during the hottest time of day, usually noon to 7:00 p.m.

Drink plenty of water to stay hydrated on hot days. If you are going out, take cold bottled water with you at all times. Avoid alcohol and caffeine, as they can be dehydrating. It’s also important to wear breathable, lightweight clothing in lighter colors (dark colors can hold the heat!). Something you can do to stay cool is bring personal cooling towels or other items that will keep you cool while outdoors. Wear a hat and sunglasses to protect your face and eyes. And don’t forget your sunscreen!

Staying Cool While Indoors

Before summer hits, have your air conditioner serviced by your HVAC provider to ensure it’s working in proper condition. Nothing is worse than coming home to a sweltering hot house because your air conditioner broke down. You should keep your thermostat temperature constant. People often change the temperature when they are not home to save energy and cost. However, that can cause the unit to work harder and cause your bill to be higher, too. While you might like your house to feel cooler, the average temperature you should keep your thermostat at is 75 degrees Fahrenheit. Change your HVAC filter regularly to help keep your unit working at its best performance.

Ellis Air Conditioner And Heating, located in Dallas, has some great tips on their website for caring for your HVAC, as well as other great tips to stay cool and conserve energy in your home. In addition to your air conditioner, using your ceiling fans can help circulate the cooler air throughout your home.

Conserving Water

Texans are asked to conserve water during the hot summer months to help preserve our resources in case of droughts. Conserving water helps save us money, as well. The largest use of water in the summer months in Texas are usually for irrigation purposes. Follow these water conservation tips from the Texas Water Development Board to help fellow Texans across the state.

Water your lawn before sunrise to prevent the water from evaporating, and do not water your lawn when it’s windy. Raising your lawn mower cutting height to three inches helps shade the roots and reduce lawn evaporation as well. Make sure your sprinklers do not leak and that they are only aimed to water the lawn, not streets or sidewalks. Lawns typically require daily watering from June through August. Smart irrigation systems can help conserve water and energy by detecting if a certain amount of rain is predicted, certain temperatures, or if wind is predicted. They can control the amount of irrigation to use based on those factors where the lawn should not be watered.

If you own a swimming pool, you can help conserve water by using a pool cover to help prevent evaporation. Fountains, waterfalls, and other features in the pool should be turned off when not in use, as well.

For more informative articles about the Dallas-Fort Worth market, visit our blog. Stay cool and enjoy your summer!

Smart Spring Herb And Flower Containers That Last For Months

Springtime in Texas is a beautiful season brimming with new life in our natural surroundings. If you haven’t begun, it’s time to prepare your lawn and landscaping for spring and summer to keep your curb appeal at its best! It’s also the perfect time to start a herb garden! As people become more health-conscious, they are learning to grow herbs and vegetables in their own backyards. However, if you don’t have much space or just want the area to be both appealing to the eye and practical, planting your spring herbs and flowers in containers may be the best way to go.

Planting herbs is an easy way to start if you are new to gardening. There are so many uses for various types of herbs, from cooking and infusing hot drinks to medicinal purposes. They are also fragrant and beautiful enough to work as decor inside the home. Many people prefer to grow herbs indoors for quick and easy access when they need to snip off some basil or oregano for cooking.

Indoor Herb Planters

Most herb gardens are low maintenance and don’t take up a lot of space, making them perfect for indoors. Small individual pots in a windowsill are always a popular choice for indoor gardens. Another more unique idea is a vertical garden. Vertical planters can be used indoors or outdoors, but they are an excellent choice for saving space on your countertops and other work surfaces. Whether it’s a hanging basket or a decorative wall container, vertical planters are both functional and practical choices for starting your herb garden.

Grow-systems are another unique way to start an indoor garden. If you have a dark kitchen that doesn’t get a lot of sunlight, or just want to grow herbs in the winter months, grow lights are a fun alternative. Using modern technology and LED lighting, almost anyone can grow an herb garden this way, even if you don’t have a green thumb!

Many people prefer to ditch the soil and grow herbs hydroponically. Rather than growing in soil, the plants grow in baskets suspended above jars of water in which their roots grow. Hydroponic herb gardens can be as simple as growing your herbs in a mason jar or various types of hydroponic systems. Keep in mind that hydroponic plants can grow rather quickly and offer year-round herbs at your disposal!

Outdoor Herb Planters

There are so many more opportunities for outdoor herb planters, depending on how large or small you want your garden to be. One of the most popular options are the various types of garden planters for patios. You can use decorative ceramic pots or urn style planters for a festive look on your patio. Many people prefer the classic terracotta pots and planters because they are porous, allowing for air and water to circulate, preventing root rot and soil disease to keep plants healthy.

For a rustic look, options can include upcycled, reclaimed and vintage items. You can use anything from wooden barrels and metal buckets to antique wheelbarrows, bathtubs, or anything old from a junkyard!

The best solutions for larger herb and vegetable gardens are raised beds. These are typically square or rectangular in size, and made from wood, metal, or brick. If you are not able to kneel for long periods of time, raised beds are easier on the knees, allowing you to stand or sit in a chair while gardening. Raised bed gardens give you greater control of your soil type, condition, and nutrients so that you can grow the fruits, vegetables, and herbs you love the most.

Which type of herb and flower containers are your favorites?

Top Ways to Win in Today’s Competitive Housing Market

Today’s home buyers could really use some encouraging tips and advice when multiple offers, well over list price with full appraisal waivers, are the new norm. Working closely with an experienced realtor with market insights and superior offerings is critical in today’s market. Top ways to win in today’s competitive housing market are key to helping home buyers submit offers that are the preferred choice.

Top ways to win – who you partner with matters

First and foremost, work with a seasoned Realtor who is solutions driven. Experience counts.
If relocating from out of state, be prepared to tour the home virtually. Working with a seasoned Realtor who can be your eyes and ears is key. Great communication skills and going the extra mile can go a long way in removing the unknowns.
Be prepared to act quickly when a house that fits most of your criteria hits the market. Decide in advance what criteria you can forego in exchange for flexibility and home ownership.
Obtain a pre-approval letter from your lender showcasing you’ve already gone through underwriting. All that remains in an address. This shortens your financing timeframe considerably and makes you a stronger buyer. With proper preparation, some buyers could consider waiving the financing contingency altogether.
Be sure your agent follows the offer guidelines.

Crafting the offer

Be as flexible as possible offering terms and dates that best suit the seller’s needs.
Accommodate the seller with a free leaseback period.
Make the option period as short as possible for you to obtain an inspection and move forward. Some buyers are electing to waive the option period altogether. Since this bears risk, the home buyer would need to make this decision carefully.
Offer to pay items that are normally a seller cost, such as title policy and home warranty (if desired)
Make your offer non-contingent upon the sale of your current home. Ways to do this include a bridge loan product that allows you the freedom to buy first and sell second. This strategy is for well qualified home buyers.

Other considerations

Obtain conventional financing rather than FHA or VA. This allows you to pay over the appraisal amount should the property appraise lower than contract price. Provide proof of funds for both the downpayment and a potential appraisal shortage when your offer is submitted.
While some think cash is king, let’s be real…it’s all cash to the seller. With the appraisal waived and a solid pre-approval, it’s really about terms.

These top ways to win are key to successful homeownership in today’s competitive market. Whether you are relocating to North Texas , downsizing or just needing a better home for your needs today, contact Lynn Wilson now make your move as stress-free as possible. Enjoy access to private exclusive listings, creative financing options that position you for success and a host of other unique solutions.

Pros And Cons Of Owning The Smallest Vs. Biggest House In The Neighborhood

When shopping to purchase a home, most people don’t think too much about the size of the house other than whether it meets their needs. Does it have enough bedrooms and bathrooms for the size of your family? Will the home have a spacious kitchen and living space? While these are the main reasons you should think about the size of the house you are about to purchase, you might also want to consider what would happen if the house you choose is either the smallest house or the biggest house in the neighborhood. Let’s explore the pros and cons of both scenarios and why it matters.

Owning The Smallest House In The Neighborhood

A smaller house may be all you need if you are single, a couple, or a small family. Just make sure that you really aren’t planning to enlarge your family or move other family members in with you if you go small. For example, do you have aging parents that you may want to take in to care for when they are elderly? Do you think there is a possibility you will want children or more children in the future?

The con of owning a smaller home is that homeowners often outgrow it. Whether it’s due to family expansion or the need for more rooms, the truth is we don’t always know what the future holds for us. Our needs change as we live in the home. The recent trend is that many companies and businesses allow and prefer employees to work from home. When the COVID-19 pandemic hit, many people were left scrambling to create a home office. Those with smaller houses that didn’t have a spare room had to make a workspace in their kitchen, dining room, and some even had to use their own bedroom!

The pro of owning the smallest home in the neighborhood is the resale value. You will have more room to appreciate under the price cap set by the larger homes in the neighborhood. Any future improvements will increase home value. A smaller home may limit the number of possible prospective buyers who need a bigger floor plan or more bedrooms, but it shouldn’t be a major issue. The recent trends show that smaller home buyers are Generation X and millennials, who are driving the market.

Owning The Biggest House In The Neighborhood

The con of owning the largest house in the neighborhood is that the size puts you at the top of the pricing in the neighborhood. You will have less room to grow in appreciation versus a smaller home. Any home improvements you make will provide less return on investment. Keep in mind that the bigger the house, the more it costs in time, money, and energy. You will have higher utility costs and rising property taxes.

The pro of owning a larger home is the elbow room. Even as you raise your family and find yourself an empty-nester, many people choose to stay in the large home because of the sentimental value. You raise your kids there, and your kids will someday come to visit with their own families. There’s also more room for entertaining and guests to stay. If you have plenty of space, you can section off a portion of the house to use as an in-law suite for aging parents. The possibilities are endless of what you can do with a larger home. And when you do go to sell the home, there will still be those buyers who need the extra space and will choose your house over the smaller ones.

What About The Middle?

Houses in the middle of the size range offer the most possibilities for resale. Mid-size homes appeal to a broader group of buyers. These houses are not too tiny for a growing family and are not too big for families. There is more demand and a better appreciation for a mid-size home in most housing market areas.

Determine The Home’s Value

There’s more than just the size of the home that determines a home’s value. The home’s structure tends to depreciate over time, but the land it sits on appreciates in value. If you’re thinking about the future resale possibilities, don’t just think about the size of the house, but the location of the property the house sits on. For example, a house built at the end of a cul-de-sac may be in higher demand than a house built next to a busy intersection. Buyers may want a more private land that’s safer for children and further away from street noise.

When searching for your new home, working with a real estate agent is beneficial. They will run a comparative market analysis (CMA) to determine the best offering price. Your real estate agent can also negotiate the price and terms of your offer. They will be your best resource throughout the entire home search and through the purchase.

Talk to Lynn Wilson DFW Real Estate Group today to get started on your search for your future home!

The Luxury Home Demand – Beautiful Spaces That Make Sense

The Dallas-Fort Worth (DFW) metroplex in Texas is home to some of the most beautiful luxury homes in the United States. It’s no wonder since the DFW area is also home to some of the wealthiest people in the country, as well. Millionaires and billionaires who made their money or inherited their riches due to the Texas oil industry make up just some of the wealthy residents. DFW is also known to house most of the country’s large corporations. The top industries in the Dallas area alone are technology, financial services, and defense. Fort Worth is home to the major oil and gas companies and the manufacturing, aviation, and aerospace industries.

The Current DFW Housing Market

Despite two years of economic instability brought on by the COVID-19 pandemic, the DFW housing market is still going strong. There are many factors to consider, but one thing is for sure, more and more people continue to relocate to the DFW area to enjoy all that this thriving area has to offer! Homebuilders continued to see a rise in demand for new home construction throughout 2021. Experts also predicted the trend to continue in 2022.

California residents have relocated to Texas at an unusually higher rate than normal. In particular, many of California’s top corporate headquarters have relocated to Dallas. The lower taxes and lower cost of living are some of the top reasons people flock to the area. And with this savings, you can usually afford a more sizable house and property for your money! These factors have created the demand for more luxury homes in the DFW area.

Luxury homes are not all new construction, though. The increased costs of building a new home combined with the strain on housing inventory have put older homes in the Fort Worth neighborhoods on the luxury home map. Some buyers are buying homes that were probably not originally luxury homes when they were built but are getting a luxury upgrade to suit their needs.

Luxury Homes That Focus On Practicality

Something else is trending in the DFW luxury homes housing market. These luxury homes need to have a variety of practical needs that meet the demands of growing families. Wealthy residents are skewing younger these days. Many of them have growing families. They may also care for aging parents who value their privacy and independence. Multigenerational luxury homes are in high demand with builders. Such homes may include an in-law suite, which is like a second home within the larger home, or an apartment-style suite. These homes are spacious enough for families with children still living at home, as well as aging parents who share the same roof.

Another need that we see in the luxury home market is the need for more home-office space. The pandemic has created a new normal of working remotely from the comfort of your own home. Some companies are opting for a hybrid work schedule. With this type of schedule, employees can work part of the week in the office and part of the week at home. This allows fewer people in the office building at the same time and the ability to social distance. Hybrid work schedules can also slow the spread of illness. Those who have the opportunity to work remotely in their luxury homes must have a modern home office! In many cases, the home will need to accommodate more than one remote worker. Add on children living in the home who may need to do remote learning at times due to high cases of illness, and everyone can use that extra space and WiFi!

If you’re ready for luxury living in the Dallas-Fort Worth area, contact us to help you find the home of your dreams!

Reflecting On The DFW Housing Market In 2021 And Looking Ahead To 2022

Homebuilders in the Dallas-Fort Worth metroplex continued to see a rise in demand for new houses through 2021. The DFW housing market is thriving! It doesn’t seem like this upward trend will end anytime soon. Despite the housing supply shortage that DFW experienced earlier in 2021, the housing market still managed to see great results. Building supplies are becoming available, which has also sped up the building process for new construction.

Current DFW Housing Market Conditions

Buyers are still taking advantage of lower mortgage rates. However, the current DFW housing market conditions tend to favor sellers. With so many people flocking to Texas, particularly the DFW metroplex, it can be pretty competitive with bidding wars. Sellers don’t have to worry about how long it will take for their home to sell once it’s listed.

Why Are So Many People Moving To DFW?

It may seem like more people relocated to DFW in 2021 due to the DFW housing market, but the truth is, people have been flocking here for quite a few years. The number one reason why is strictly business. The International Economic Development Council often surveys corporate executives. Executives continue to cite the overall business climate, favorable tax situation, the overall pro-business regulatory environment, and talent as the key drivers. In particular, there is a mass exodus coming from silicon valley.

The DFW housing market benefited during the first half of 2021 as California lost 53 of its corporate headquarters to other locations across the country. Almost half of those corporate headquarters relocated to Texas. In the last six years, the last five Fortune 500 companies to relocate their headquarters to DFW have all come from California.

Dallas, in particular, is leading the nation in terms of relocation. The top reasons why people are moving to Dallas are:

Job Market

Finding employment is much easier in Dallas. Many of these jobs pay above the national average. Dallas is home to the top Fortune 500 companies.

Low Cost of Living

Unlike most large cosmopolitan cities, Dallas still has a relatively lower cost of living. Rent is lower compared to New York City and San Francisco.

Affordable Housing and Land

The land supply is still abundant, and Texas has fewer regulations. It’s easy to get a building permit for the construction of your home. Existing homes are also more affordable than other large cities throughout the United States.

Low Taxes

Texas is one of the few states in the US where there is no personal state income tax. There are plenty of business tax incentives, as well. With the lower cost of living, higher salaries, and less income tax, you can stretch out more of your paycheck!

This list is primarily for financial reasons, but there are plenty more reasons why many people are relocating to DFW. The area is rich in diversity and culture, boasts beautiful weather all year long, and has great schools and universities. DFW is a great place to raise a family.

DFW has become the home to several corporate headquarters and large operations centers in recent years. Companies such as Charles Schwab, Deloitte, JP Morgan Chase, Liberty Mutual, State Farm, McKesson, and Toyota recently relocated or significantly expanded their operations there. These companies enjoy the lowest corporate tax rate in the US, leading to increased corporate profits of 5-7%.

DFW Housing Market and What’s Trending For 2022?

The nationwide housing forecast for 2022 will see homebuyers having a better chance of finding a home. However, there will still be stiff competition. Suburbs will still be the preferred location for housing. Millennials are ready to buy now, especially as many are relocating to DFW!

The COVID-19 pandemic created more flexibility in the workplace, with many offices allowing remote work or hybrid schedules. This caused a shift in more people relocating to the suburbs rather than the city, as they no longer need to be close to the office. The home-buying demand will remain strong despite the ongoing pandemic and economic downturn.

While existing home inventory will remain low due to population increase, builders are ready for new construction. The DFW economy will remain stable and thriving due to low unemployment rates and so many job opportunities as more corporations relocate there.

Get in touch with a realtor who knows the DFW housing market and will assist you whether you are buying or selling this year.