6 Things You Absolutely Need as a New Homeowner, According to Reddit

One of my favorite places to find home design inspiration, product recommendations, and DIY tips is Reddit.

Not only is the platform full of real-life people sharing their actual experiences and thoughts, but it’s also divided up into communities — called subreddits — that are niche enough to cover basically any interest or task you might have. Some of my favorites, as the owner of a midcentury house, include the Gardening, Mid-Century, and Home Improvement subreddits. One other I find myself returning to again and again is the Buy It for Life subreddit, where users share their favorite products that have exceptional quality and warranties — products that you can, as they say, buy for life.

Recently a thread in the Buy It for Life subreddit caught my attention: One user wrote that they were a new homeowner and needed help stocking their house. They asked others for their best suggestions of must-have tools that were “BIFL” (buy it for life). The thread reached over 200 comments, and it’s worth a skim — but for the short version, here are the very best suggestions. 

Water Shutoff Key

The top answer on the thread was a water shutoff key — something I was surprised to realize I don’t actually own! This will help you turn off the main water supply to your home if something goes (very, very) wrong. You can pick up a steel one from your local hardware store for under $20.

A Ladder … and a Step Stool

Anyone with a home will probably, at some point, need to reach something high, like the gutters, the ceiling lights, the branches of a tree to pull out a tangled balloon (I know this one from experience). Having a sturdy, well-balanced ladder is key in those situations, so it’s no surprise that a ladder was another recommendation on this list. And right below that: a step stool. I personally think both have been crucial in my own home! A step stool can cover most indoor tasks and is a lot easier to transport than a full-size ladder.

A Plunger

“Plungers make great housewarming gifts,” writes user u/tubluu. It’s true: If you’ve ever been in a position where you needed a plunger and didn’t have one, you know that it can be worth its weight in gold. For toilets, make sure to get one that has a more spherical shape, which provides better suction (and therefore better unclogging power).

User u/thewrights11 makes another great point: “With plungers, it’s helpful to have one for each bathroom and make sure you have at least one of each type — both sink and toilet.”

A Fire Extinguisher

Another great housewarming gift, says user u/CrabbyAtBest: a fire extinguisher. “Whenever a friend says they don’t have a fire extinguisher, that’s my housewarming gift,” they write. “I think it says ‘I care about you, even if you don’t, moron.’” Keep a fire extinguisher close at hand in the kitchen, where you can use it to smother any potential grease fires.

An Electric Screwdriver

A drill is a common recommendation for new homeowners, but a more lightweight tool might get more use for many. User u/benpeterson recommends an electric screwdriver for small projects at home — specifically, the Milwaukee M4 electric screwdriver. 

A Wet/Dry Vacuum

A good vacuum cleaner is important, but there’s a lot it can’t do — namely, deal with anything wet. That’s where a wet/dry vacuum comes in handy. As user u/akbrim says, “I can’t tell you how many times I’ve used a ShopVac for one thing or another. Wasn’t something I thought I needed, but my dad recommended it and he was dead-on correct.”
Below, user u/vikraej adds, “This is one of the few tools that when you need it, you sometimes need it urgently. We wait to buy tools until the need arises, but a Shop Vac is an exception. It’s also our go-to housewarming gift for friends buying their first home.”

Read more at ApartmentTherapy.com

Related Links

• Your Own Space: Tips for Infusing Your Personality Into Your Home

• Questions You May Have About Selling Your House

• What’s Next for Home Prices and Mortgage Rates?

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

Search Homes in Colorado

Search Homes in North Carolina

Search Homes in Oklahoma

Search Homes in Oregon

Search Homes in Minnesota

Carteret County Saint Patrick's Day Celebrations!

Carteret County Saint Patrick's Day Celebrations

Saturday, March 16th

EMERALD ISLE:

St. Patrick’s Day Festival
Saturday, 9am-6pm

Emerald Plantation Shopping Center, 8700 Emerald Drive, Emerald Isle

NEWPORT:

St. Patrick's Day Party
Saturday, 1pm-4pm

Sea Gate Marina, 729 Sea Gate Drive, Newport

CEDAR POINT:

St. Patrick’s Day Farmers Market
Saturday, 9am-2pm

The Market at Cedar Point, 1046 Cedar Point Blvd, Cedar Point

MOREHEAD CITY:

An Irish Evening: St. Patrick's Day Celebration
Saturday, 7pm-9pm

The Infusion Cafe, 1012 Arendell Street. Morehead City

BEAUFORT:

St. Patrick’s Saturday Bash - Bagpipers, The Fustics & Beau Grow
Saturday, 4pm-2am

The Backstreet Pub, 124 Middle Lane, Beaufort Sunday, March 17th

Sunday, March 17th

ATLANTIC BEACH:

4th Annual St. Patrick’s Day Celebration
Sunday, 6pm-10pm

AB Bottle CO., 311 Atlantic Beach Causeway, Atlantic Beach

NEWPORT:

St. Patrick’s Day Party
Sunday, 1pm-4pm

Carolina Home and Garden, 4778 HWY 24, Newport

BEAUFORT:

Luck of the Paw: A Tail Wagging St. Patrick’s Day Fundraiser for Misplaced Mutts
Sunday, 12pm-5pm

Beaufort Spirits and Company, 513 Front Street, Beaufort

Annual St. Patrick's Day Extravaganza + Costume Contest with Todd Barnes & the Wild Hares
Sunday, March 17th

Backstreet Pub, 124 Middle Lane, Beaufort

Related Links

• Home Exterior Projects That Scream Spring

• Some Experts Say Mortgage Rates May Fall Below 6% Later This Year

• From Surging Layoffs to a Presidential Election: What Will 2024 Bring for the Housing Market?

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

Search Homes in Colorado

Search Homes in North Carolina

Search Homes in Oklahoma

Search Homes in Oregon

Search homes in Minnesota

‘If your parents are homeowners, you’re more likely to be a homeowner,’ housing expert says. Here’s why

Several factors may affect your path toward homeownership — one may be your parents.

“If your parents are homeowners, you’re more likely to be a homeowner,” said Susan M. Wachter, a professor of real estate and finance at The Wharton School of the University of Pennsylvania.

Homeowner parents are more likely to directly assist their children with down payments through gifted money or loans, create multigenerational households to help young adults save money and even pass along firsthand knowledge of how to achieve homeownership, experts say.

The tendency follows a broader underlying phenomenon or “an intergenerational transmission of status,” said Dowell Myers, a professor at the University of Southern California’s Sol Price School of Public Policy.

“If your parents are more educated, you’re more educated. If a parent’s more educated and they have more money, then you have more money,” said Myers, whose research focuses on linking demographic data with housing trends.

‘The bank of mom and dad’ helps fund down payments

In 2023, about 23% of first-time buyers used a gift or a loan from friends or family for the down payment of their house, according to the National Association of Realtors.

Separately, Zillow’s chief economist Skylar Olsen said in August on CNBC’s “Last Call” that 40% of first-time homebuyers source money “from the bank of mom and dad” to make their down payments, up from one-third pre-pandemic.

“Some of that is hard-won savings,” she said. “The other part is, say, a gift from family and friends.”

“Intergenerational wealth is clearly associated with homeownership,” said Wachter. If a parent is a homeowner, they are more likely to assist with their kid’s down payment, she said.

In fact, a young adult’s homeownership rate increases with household income and the effect is compounded with the parent’s homeownership status, according to a 2018 report by the Urban Institute, an economic and social policy think tank based in Washington, D.C.

If your parent is not a homeowner, “then you are less likely to have intergenerational wealth or transferred gifts from your parent for a down payment, which has become quite important as down payments have increased,” she said.

Myers agreed: “As prices rise, down payments have to get bigger. No one can save up $100,000; that’s just not realistic.”

The lack of affordable housing keeps Gen Zers at home

Nearly a third, 31%, of adult Gen Zers, or those born in 1996 or later, live at home with their parents or a family member because they can’t afford to buy or rent their own place, a report by Intuit Credit Karma found.

The lack of affordable housing options is pushing young adults to live with their parents, and multigenerational living can help young people build savings to become homeowners, Wachter said.

But it’s harder for those with parents who are not homeowners: “Renter households are often precluded from bringing more people into their home. As a homeowner, you have more space, flexibility; you’re able to do so,” she said. “There’s this intergenerational propensity to be renters.”

Having homeowner parents is ‘like a 5 percentage point bonus’

Young adults with homeowner parents are more likely to become homeowners themselves because they can obtain more information about the mortgage application process directly from their parents, the Urban Institute found.

“Because the parents are so knowledgeable about homeownership, they’re more likely to encourage their kids to do it and show them how to do it,” Myers said. “It’s like a 5 percentage point bonus by having parents who are homeowners.”

Renter parents may express more “sour grapes” about the idea of owning a home, he said: “If they didn’t do it, they’re not going to talk it up.”

Cultural factors during someone’s upbringing can also influence their potential home buying and renting activity. “It’s a valid component,” Myers said.

If a young adult grew up with homeowner parents, they are more motivated to achieve the same status because they know the benefits firsthand.

Read more at CNBC.com

Related Links

• It’s Time To Prepare Your House for a Spring Listing

• Spring-Ready Roofs: Essential Maintenance Tips for a Trouble-Free Season

• Strategic Tips for Buying Your First Home

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

Search Homes in Colorado

Search Homes in North Carolina

Search Homes in Oklahoma

Search Homes in Oregon

Search homes in Minnesota

Strategic Tips for Buying Your First Home

Buying your first home is a big, exciting step and a major milestone that has the power to improve your life.

As a first-time homebuyer, it’s a dream you can make come true, but there are some hurdles you’ll need to overcome in today’s housing market – specifically the limited supply of homes for sale and ongoing affordability challenges.

So, if you’re ready, willing, and able to buy your first home, here are three tips to help you turn your dream into a reality.

Save Money with First-Time Homebuyer Programs                                       

Paying the initial costs of homeownership, like your down payment and closing costs, can feel a bit daunting. But there are many assistance programs for first-time homebuyers that can help you get a loan with little or no money upfront. According to Bankrate:

“. . . you might qualify for a first-time homebuyer loan or assistance. First-time buyer loans typically have more flexible requirements, such as a lower down payment and credit score. Many help buyers with closing costs and the down payment through grants and low-interest loans.”

To find out more, talk to your state’s housing authority or check out websites like Down Payment Resource.

Expand Your Options by Looking at Condos and Townhomes

Right now, there aren’t enough homes for sale for everyone who wants to buy one. That’s pushing home prices up and making affordability tight for buyers. One way to deal with that issue and find a home right now is to consider condos and townhomes. Realtor.com explains:

“For many newbies, it might just be a matter of making a shift toward something they can better afford—like a condo or townhome. These lower-cost homes have historically been a stepping stone for buyers looking for a less expensive alternative to a single-family home.”

One reason why they may be more affordable is because they’re often smaller. But they still give you the chance to get your foot in the door and achieve your goal of owning a home and building equity. And that equity can help fuel your move into a larger home later on if you decide you need something bigger in the future. Hannah Jones, Senior Economic Analyst at Realtor.com, says:

“Condos can help prospective homebuyers who perhaps have a smaller budget, but who are really determined to get a foothold in the market and start to accumulate some equity. It can be a really great entry point.”

Consider Pooling Your Resources To Buy a Multi-Generational Home

Another way to break into the market is by purchasing a home with friends or loved ones. That way you can split the cost of things like the mortgage and bills, to make it easier to afford a home. According to Money.com:

“Buying a home with another person has some obvious advantages in the mortgage department. With two incomes in the mix, buyers can likely qualify for a larger mortgage — a big help in today’s high-cost market.”

Bottom Line

By exploring first-time homebuyer assistance, condos, townhomes, and multi-generational living, it can be easier to find and buy your first home. When you’re ready, connect with a local real estate agent.

Read more at KeepingCurrentMatters.com

Related Links

• Home Exterior Projects That Scream Spring

• Some Experts Say Mortgage Rates May Fall Below 6% Later This Year

• From Surging Layoffs to a Presidential Election: What Will 2024 Bring for the Housing Market?

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

Search Homes in Colorado

Search Homes in North Carolina

Search Homes in Oklahoma

Search Homes in Oregon

Search homes in Minnesota

3 Valuable Lessons for Anyone Entering Their Homeowner Era in 2024

The past few years have brought some unprecedented changes to the world of real estate — hello, record low inventory, record high prices, and mortgage rates the likes of which we haven’t seen in decades — which means a lot of people are dealing with totally new situations that wouldn’t have been common even as recently as a year ago, especially first-time homebuyers.

Fortunately, they’re willing to share what they’ve learned so that if you’re shopping for a home, you can go into the 2024 buying season with your eyes open and be a little better armed for what’s in store for next year.

There Is Such Thing as “Too Good to Be True”

When Sherrie Adams was shopping for a home to be near her 84-year-old father, she faced a situation that a lot of other people had become familiar with over the years: homes were going under contract faster than she could get to come in and see them. Finally, after a lot of searching, she found one within walking distance of her dad that Adams called “magazine perfect.” Her higher-than-asking price offer was accepted and it wasn’t long before she, her daughter, and her two grandchildren found themselves in the perfect setup. At least, that’s what she thought. 

“Day after closing, my family room flooded,” she recalls, saying that the outdoor sump pump had been full of leaves, something the previous homeowner said had never happened before. After reevaluating her new home, she discovered that the driveway had been redone, giving the yard just enough of a slant that all the water pooled at her backdoor, which she didn’t open during the initial tour.

“I would advise anyone to look really close at everything,” she said of her regrets. “Backyards, opened and closed doors, cabinets, washer and dryers, dishwashers,” she says, noting that she never expected to have to take on all this extra work in her picture-perfect house. 

Your Down Payment Might Not Be the Biggest Expense

Jarred Schlottman said he’d always assumed that the hardest part of buying his first house was going to be saving the money he needed for his down payment. Instead, he was shocked to learn that the closing costs were the most expensive part of the process. “People fixate on not having enough for a down payment, but the closing costs were a huge shocker,” he said, adding that he didn’t even receive the final figures — which ended up being 12 percent of his total loan amount — until the morning of his closing. 

There’s Nothing “Fast” or “Perfect” About Buying a Home

When Danielle Payton, founder of health and wellness website kuudose, started looking for a house, she thought she’d have no trouble quickly finding the “perfect home” right away. Instead, she says that she learned that there’s nothing “perfect” about the process and it does take awhile. She discovered that she needed to fall in love with her home’s possibilities. “I learned that your ‘perfect’ home might not exist right away, but it’s important to see the potential your home has,” she explains, noting that factors such as size, location, and amenities are key, but the rest can be updated and upgraded over time. 

Payton says she also learned that there’s nothing fast about the home-buying experience and she was surprised by just how long it took from start to finish, adding that “it’s all worth it in the end to be a homeowner.”

While 2023 may have been a year of lessons for some, we have a hunch 2024 is going to be full of a whole new set of challenges and rewards for hopeful homeowners.

Read more at ApartmentTherapy.com

Related Links

• Gen Z, millennials are ‘house hacking’ to become homeowners in a tough market. How the strategy can help

• The Perfect Home Could Be the One You Perfect After Buying

• It’s Beginning To Look a Lot Like Christmas: The Most (and Least) Festive U.S. Cities and States

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

Search Homes in Colorado

Search Homes in North Carolina

Search Homes in Oklahoma

Search Homes in Oregon

Search homes in Minnesota