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First-time homebuyers: consider the long game

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Tracey Craft, Realtor, The Craft Dolan Team at Ansley Real Estate | Christie’s International

All of my buyers right now are under 30. Every single one of them. And I love it!

First-time homebuyers are taking advantage of interest rates in the 6%’s, a healthier housing inventory than we’ve seen in years, and low downpayment options offered by lenders.

February kicked off with interest rates in the mid 5%’s, spurring buyer activity. At the end of last week, lenders were reporting 6.2% - 6.8% and talking about the upcoming swing back up to the 7%’s, indicating now is the time to lock in.

Lenders are offering a variety of programs to keep the home-buying ball rolling. Especially attractive are 3% downpayment options on conventional loans for first-time buyers, and discounts that can lower interest rates by as much as 0.5% when a buyer’s annual income is under the median Atlanta income of $95,000.

And if that 3% downpayment is still a challenge, consider sources such as a family gift. There are guidelines, but simply put those that share a familial relationship can gift funds to a buyer towards a downpayment.

“The downpayment often feels like a barrier to first-time buyers, but there are programs to help promote ownership,” observes Isaac Berry, Southeast Mortgage. “I encourage first-time buyers to play a long game and not be overly concerned with near-term market gyrations, given that over time renting is essentially a contract to make a house payment forever, whereas buying secures the price of your home forever and allows you to lock in guaranteed payments that create an equity position and ultimately grow personal wealth.”

I could not have said it better. And there is likely not a lender or a Realtor that would disagree.

“For most, a home is your largest nest-egg,” says Geoff Smith, Assurance Mortgage. “Making a mortgage payment each month is like putting money into a savings account. You’re building equity in an asset that will be realized when you sell it later in life, or which you can borrow against in an emergency.”

Steve Beecham, HomeTown Mortgage uses one of my favorite sayings: ‘date the rate, marry the house.’

“Rates may be climbing now, but we expect them to lower next year, so marry the house when you find one you like. We can refinance later,” he says.

Ty Keller at Cross Country Mortgage puts it this way: “Although we’ve seen an interest rate increase, we’re still at historical lows, while rent increases have been rampant. Talk to a lender about first-time buyer programs and crunch the numbers. You will likely pay less per month to own then to rent.”

Another one of my favorite sayings: ‘if you’re paying rent, you’re paying someone else’s mortgage.’ It’s true! Call me to discuss how you can stop paying someone else’s mortgage and start paying yourself by acquiring an equity position in a home of your dreams. Play the long game.

The Craft Dolan Team is hosting a panel for First Time Home Buyers on May 4th, 5:30 - 7 pm, at their Ansley office, 31 Church St, Alpharetta. Email your RSVP to tracey@ansleyre.com. The event is free, but please register for a food and beverage headcount. Learn more at: https://www. ansleyre.com/site/the-craft-dolan-team/ pages/6283/tastings-teachings

7 Timeless kitchen trends that will never look outdated

cabinet fronts, these functional features will never be outdated.

Built in Appliances

Between expensive appliances, custom cabinets, and costly countertops, we spend a lot of money on our kitchens. In fact, according to John Hogan, Owner of Remodeling Expo Center in Roswell GA, the median spend on a kitchen remodel was $32,000. To make sure that all of this money isn’t creating a kitchen we’ll want to update again in five years, the trick is to incorporate timeless design elements that won’t soon go out of style. By choosing kitchen features that can stand the test of time, you’ll save yourself money (and the work of remodeling) down the line.

So what are the kitchen trends that won’t make you cringe a few years from now? Skip the trendy color of the year, and follow these timeless kitchen ideas that have been loved for decades.

Neutral Paint Colors

The classic white kitchen is sometimes critiqued for being a little boring—but there’s one solid reason to opt for this color in the kitchen: It will never go out of style. According to Remodeling Expo Center, a whopping 43 percent of renovating homeowners opted for white cabinets. Not sure which shade of white to go for? Don’t worry, soft grey’s are also just as popular and combining the two work well also.

Shaker-Style Cabinets

Known for their simple design and recessed-panel doors, Shaker cabinets have been in-style for more than 100 years. Shaker cabinets are popular in farmhouse kitchens, transitional kitchens and are the perfect element to update an otherwise traditional house.

Drawer and Cabinet Organizers

I’m calling it: Organization will never go out of style. And while features like built-in baking sheet dividers and pull-out cabinet drawers haven’t been around for that long, when hidden behind unfussy, timeless

Nothing finishes off the look of a kitchen like the smooth finished look of a built-in appliance. Especially the refrigerator and the microwave. And conversely, nothing looks more outdated than a refrigerator or microwave sticking out or on the countertop. A thoughtful kitchen design should include clever and seamless appliance installation.

Natural Materials

Adding in natural materials like wood and stone will ground the space and keep it classic. If you want a timeless look, resist the urge to create an ultra-modern kitchen full of shiny stainless steel and engineered materials. Resist the feeling that “natural” equals “old”

White Marble “Look” or Butcher Block

Countertops

The white marble look will always be an elegant choice for kitchen countertops, but if the maintenance and potential for staining has you worrying about its longevity, consider using quartz. For a more classic look consider butcher block. The go-to choice for farmhouse kitchens, butcher block will wear beautifully over the years and you can prepare food directly on it.

Subway Tile

Subway tile is not only versatile enough to work with many different decor styles, but you probably won’t get sick of it in five years (after all, the look’s been around for over 100 years). While it may be tempting to go with a trendy backsplash, like metallic tiles, sea glass, or bright geometric tiles, opt for something a little simpler if you want a backsplash with staying power.

To learn more, contact The Remodeling Expo Center at 404 910-3969 or stop in at 48 King Street, Roswell, GA 30075. www. RemodelingExpo.com

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