Charlotte NC Real Estate and Other Thoughts
Kitchens have come a long way from linoleum floors and olive-colored appliances that our grandparents had. Today’s kitchens are super-sized and designed for multiple purposes. Sixty-nine percent of owners use their kitchen space for dining, while 49 percent use it for entertaining and 43 percent for socializing, according to a recent survey of homeowners by Houzz. The kitchen has become the hub for family activities, such as doing homework, watching TV and reading. Nearly two-thirds of homeowners spend more than three hours a day in their kitchens.
Therefore, today’s homeowners are not skimping on renovations. Nearly one-third of homeowners surveyed spent between $25,000 and $50,000 on kitchen renovations and another third spent more than $50,000.
Features that are typically part of living and dining rooms, such as dining tables, chandeliers, TVs and workspaces, are being added to kitchens. Wine refrigerators and built-in coffee stations are popular for entertaining, while custom cabinetry and hardwood floors integrate more seamlessly with the home’s overall design.
As the modern kitchen has continued to evolve, several design trends have emerged:
The modern “super kitchen” not only improves flow, storage and aesthetics, it also supports family life with style and substance
Homeowners who need to move but are struggling to sell their homes are turning to rent-to-own agreements to find prospective buyers. Under these leasing options, which can last from two to five years, owners allow a prospective buyer to move into the home and pay monthly rent. A portion of the rent is set aside to be used as a down payment on the house at a later date.
Financial experts at Bankrate.com say credit-challenged renters have the chance to try out the house and neighborhood, while saving for a down payment and building up good credit. They can also lock in a sales price and terms upfront.
The set-up helps homeowners find an eager buyer and long-term renter who can provide a steady income while caring for the house on the owner’s behalf. The downside is the possibility that the renter could change their mind and opt out of the agreement, which means the owner must start the process over again.
Rent-to-own arrangements are complex and every state has its own regulations, so it’s advisable for renters to meet with an attorney and a real estate agent to understand financial implications. Renters should also meet with a mortgage broker so they know how much they need to qualify for a loan.
Financial experts say both parties should treat the deal the same way as a home purchase. Obtain an appraisal and a home inspection, and owners should require a security deposit and reserve the right to evict renters if they fail to make payments. The contract should also spell out how funds will be held by owners, under what conditions the sale will take place, and who is responsible for maintenance and repairs.
With proper planning and due diligence, rent-to-own arrangements can be a viable option for buyers and sellers.
Hardwood flooring is one of the most sought-after features in new and existing homes. This eco-friendly feature can turn your home into a warm and inviting space to relax and entertain. Selecting the right flooring can be a challenge, however, depending on your design style, budget and personal preference. Before choosing a wood floor for your home, there are a few things to keep in mind, courtesy of the National Wood Flooring Association:
With these simple tips in mind, hardwood floors can provide comfort and enjoyment for many years.
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REMEMBER, if you are considering buying a home, either new construction or resale, we can help you as your Buyers Agent. As your agents, we will protect and defend your interest and advise you throughout the entire process. The agents that sit in the model homes represent the builder/seller, they do not represent you. And, the builder pays the commission! There’s no cost to you! Give us a call to find out how we can work for you!
If I can be of help to you in either buying or selling real estate in the Charlotte Metropolitan area, please contact me, Debbie Arriero. In the meantime, please check out these resources:
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