My New LA Home

3 Reasons To Buy A New Construction Home | Coe Real Estate

Fri, 04 Mar 2022 13:00:05 GMT

Brand New has its advantages

Are you in the market for a new house? Whether you are a first-time home buyer or are upgrading to get more space, you will need to choose between buying an existing hom e or building a brand new one. As you might imagine, there are pros and cons to each kind of home.

But if it is in your budget, you may want to lean towards a newer home over an older one. Let's explore three reasons why new construction homes are better than existing homes.

Customize Every Aspect To Your Tastes

Ask anyone living in a custom-built home and they are likely to tell you that the ability to customize everything was a major decision factor. When you build a brand-new home, your input isn't limited to the floor plan or room layout.

Your family can choose everything from the paint colors to the door hinges. Imagine having your pick of appliances, cabinets, flooring and trim in every room – that's what new construction is all about.

Modern, Efficient And Convenient

A brand-new home means a home that is energy-efficient and built for convenience. Your home can be designed with as much advanced technology as you have in mind. A given is incorporating seamless Wi-Fi and other wireless connectivity for all your devices.

A cutting-edge video security system to keep your family safe. Efficient heating and cooling that offers superior indoor air quality. And, of course, lower energy costs and a smaller carbon footprint.If you are a fan of technology and the conveniences it can provide, a new construction home is a perfect choice.

Many Years of Trouble-Free Living

Another benefit of living in a new construction home is that everything around you is far less likely to fail over the next few years. Moving into an older home means worrying about things like:

Roof
Electrical wiring
Original appliances

That’s the tip of the iceberg with a whole host of other potential problems not far behind.

In a new construction home, you will be surrounded by brand-new machinery that is built with the future in mind. Also, even if you do run into any issues with your home or appliances, it should all be under warranty.

As you can see, the scales tip hard when it comes to comparing brand-new construction with an older, dated home.

For more information about our team and how we can help out, go to www.coeregroup.com .

3 Reverse Mortgage Myths Debunked | Coe Real Estate

Thu, 03 Mar 2022 13:00:03 GMT

3 False Reverse Mortgage Myths

Are you a senior or retired individual older than 62 who is looking to supplement their retirement income? If so, you may have heard about a unique financial product known as a reverse mortgage. In today's blog post we will explore three myths about reverse mortgages and share why they need to be debunked. Let's get started.

Myth #1: Reverse Mortgages Are Expensive

The first myth we will debunk is that reverse mortgages are costly financial products that are full of fees. In fact, nothing could be further from the truth. It's true that there are closing costs attached to a reverse mortgage, just like with a traditional mortgage. These costs will vary depending on a wide range of factors, including the terms of the reverse mortgage, your financial history, your home's location, size, assessed value and more.

If you are interested in a reverse mortgage, don't let the potential fees or closing costs scare you off.

Myth #2: Children Inherit The Reverse Mortgage Payments

Many people believe that they are saddling their children with a mortgage payment when they take out a reverse mortgage, but this isn't true. After you (and your spouse, if you have one) move on, whoever is overseeing your estate will have the option to sell your home and use the proceeds to pay off the balance of the reverse mortgage. Alternatively, they may decide to use cash to pay off the balance and keep the home. But your children aren't going to inherit a monthly repayment.

Keep in mind that having a plan for your estate and a proper will is important, regardless of whether or not you have a reverse mortgage. Be sure to contact an attorney who is skilled in estate law for more information.

Myth #3: The Bank Ends Up Owning Your House

Finally, some believe that the bank will end up owning your home if you take out a reverse mortgage. This isn't true either. With a reverse mortgage, you are borrowing money against the equity or value that you have built up in your home. You will continue to own the house, but the lender may place a lien against it to secure the mortgage loan.

These are just a few of the many myths about reverse mortgages that you might hear about or read online. When you are ready to learn more about this type of mortgage or to open one for yourself, get in touch. Our team of mortgage professionals is here and ready to assist you.

For more information about our team, visit www.coeregroup.com .

3 Easy Ways To Pay off Your Mortgage Faster | Coe Real Estate

Wed, 02 Mar 2022 13:00:03 GMT

Pay Off Your Mortgage Faster

If your personal budget is similar to many other people's budgets, your home mortgage payment is by far the largest expense that you pay for each month. In fact, this pa yment may easily account for 20 or 25 percent or more of your take-home income. Understandably, you may be focused on trying to pay this expense off early.

By focusing on this payment, you can build equity and may be able to achieve financial security more quickly. You simply have to find a way to put aside a bit of extra cash regularly so that you can make extra payments, and there are few easy ways that you can consider.

Use Your Tax Refund

First, if you are one of the many taxpayers who receives a refund each year, consider setting aside some or all of this refund to reduce your outstanding mortgage balance. Some taxpayers may have such a sizable refund that it can account for two or more mortgage payments each year. However, even a few hundred dollars extra put toward your principal balance will save you a considerable amount of money in interest charges over time and will have a wonderful effect on your balance.

Earmark Your Annual Bonus

If you are lucky enough to receive an annual bonus each year, you may consider using this to pay down your principal balance. While you may usually spend this money on extra holiday gifts or just add it to your spending cash, you can benefit more substantially when you contribute it to your effort to pay down your mortgage.

Use An Automated Draft To Create a Fund

Another great idea that will work well for all individuals is to create an automated draft from your checking account each month. You may set aside the funds in a special account, and you can make an extra mortgage payment from this account periodically. Another idea is to set up auto payments for your mortgage that are higher than the amount due. For example, you may establish auto payments that are $50 or $100 more than your scheduled payments.

Paying off your mortgage earlier can be a life changing event for you. Simply imagine how different your life would be if you were not responsible for this payment each month. The fact is that this could be your reality sooner than you think if you follow these tips. For the best results, apply two or even all three tips to your efforts.

F or more information about our team, check out www.coeregroup.com .

4 Home Improvements Shortcuts That Cause Disaster | Coe Real Estate

Tue, 01 Mar 2022 13:00:05 GMT

Don't Make These Home Improvement Mistakes

Are you starting to get the renovation itch? With spring on the way, you might be tempted to launch those home improvement projects that you contemplated over the winter . However, as with any project, you will want to get things right. Let's take a look at four renovation shortcuts that can lead to disaster and the steps you can take to avoid them.

Shortcut #1: Not Understanding Your Home's Structure

Before you undertake any renovation involving your home's structure, you must be confident that you know exactly what is where. For example, do you know what is inside of your walls? You might be surprised to learn what is hiding behind those pieces of painted drywall. Electrical wiring, plumbing, structural supports, insulation and possibly even soundproofing material can all be damaged by misplaced nails or cuts. You might also discover damage caused by pests, mold or water which needs to be repaired.

Shortcut #2: Not Measuring Everything (At Least) Twice

You have likely heard this tired cliché: "measure twice, cut once." However, what you may not realize is that was intended for professionals. If you are new to renovating, you will want to measure at least twice, if not three times or more. A small measuring mistake of one-half-inch can mean the difference between your new cabinets fitting and not fitting. Or your tiles lining up with one another or not.

Shortcut #3: Not Using Quality Tools And Materials

Another shortcut that homeowners try to take when starting do-it-yourself home projects is using cheaper materials or whatever tools they have handy. Keep in mind that you are investing in your home and that you are saving money by not paying for the labor. Use those savings on top-quality materials that will withstand the test of time.

Shortcut #4: Not Calling A Professional After You Mess Up

Finally, one shortcut that must be avoided at all costs is not calling a professional if you have made a significant mistake. If you end up drilling into the wrong wire, or you damage something else beyond your repair skills, don't try to patch it up. Swallow your pride and make the call. You will be able to sleep soundly knowing that whatever was damaged isn't at risk of failing later.

Renovating your home is the best way to increase its value, but even the smallest mistake can blow up into a major problem in the future. To learn more about your home's value, contact us today. Our real estate sales team can help you assess your home and share how much it will sell for if you decide to list.

For more information about our team, check out www.coeregroup.com .

How To Decide Between Hardwood Or Carpet In Your Bedroom | Coe Real Estate

Mon, 28 Feb 2022 13:00:05 GMT

It's Not An Easy Or Quick Choice

The floor of your bedroom is important – it’s the first thing you touch in the morning, and the last before you go to sleep. Not to mention all the other life moments th at go on in there. So take time to consider what you want your bedroom floor to be made of – and read on for pros and cons of carpeting and hardwood floors.

The Noise Factor

One of the biggest elements to consider is how sound will carry. Carpet is a very quiet medium, perfect for those bedrooms on higher floors, or in houses that want to keep a quiet profile. Hardwood creaks, and all movements can be heard – from walking to a child playing, even to the acoustics of a TV or laptop.

Keeping It Clean

Carpets are hard to keep clean. Dirt, pollen, hair, food and other particles get ground into the fabric, especially if it’s a high-traffic area, and it can be expensive to get them out. Hardwood is easy to tidy – and even stains can be refinished without too much cost or effort. On the other hand, carpets need only be vacuumed weekly, whereas a hardwood floor should be swept every other day.

The Life Span Of Your Floor

With careful maintenance, carpets can last for many years – but barring anything unforeseen, hardwood floors last forever. They also never go out of style, and offer their rooms a sense of prestige. Carpets need replacing and the patterns can’t be changed with the ease that hardwood floors can be refinished or refurbished with area rugs.

The Cost Of It All

In initial costs, carpets are largely cheaper, although they cost more to maintain because they need to be replaced more often. Hardwood floors take a big initial payment, but because they are more durable the costs even out, in the end. Environmentally speaking, hardwood is often more sustainable (as long as it comes from an ecologically-sensitive company), but there are recycled options for carpeting too.

What Goes On In There

Consider what kind of life will be lived in the bedroom in question. Will it be a kid’s room, where the padding of carpet might be safer? Is it meant for guests, where the beauty of hardwood could make a strong first impression? Does the occupant have allergies, so that hardwood (which doesn’t gather allergens like carpet fabric) is a better choice?

For more information about our team, check out www.coeregroup.com .

How To Buy A Home On A Single Income | Coe Real Estate

Fri, 25 Feb 2022 13:00:05 GMT

It's Not Impossible If You Plan Things Out

Are you thinking about buying that perfect new home? Whether you're buying for yourself or a new home for a family, there will be many costs involved. Let's take a look at 3 budgeting tips that will help make homeownership on a single income easier.

Get A Full Picture Of Home Ownership Costs

Buying a home is never as simple as paying a mortgage payment each month. So, as with most budgets the first place to start is a full consideration of everything involved.

On top of your mortgage, what other monthly costs will come up? Consider utilities like electricity, phone, cable, water and others. You'll be responsible for property taxes, so find out how much other local owners are paying. If you're buying into a community, you may have to pay monthly fees to a homeowners' association.

When you're visiting open houses and talking to owners, be sure to get a full picture of their monthly costs. It will help you build a responsible budget.

Keep Your Credit As Strong As Possible

It might sound obvious, but keeping your credit or FICO score spotless is important. Buying a home on a single income means that you'll need a mortgage. Depending on the home you're buying, this might be significant. Your credit score is one of many factors your lender will use to assess you, but it's the most important. So keep those bills paid on time and avoid any black marks on your credit report.

Plan Ahead For Unexpected Budget Shocks

Don't forget to think ahead at events that -- while unlikely -- may shock your finances. Having one income means that you're one negative health event away from being out of work. What happens if the income-earner gets sick, fired or laid off? Is there other work nearby, or would you need to move? Consider the different types of insurance you can get on your mortgage and home. And how much you'll need to put away in a 'rainy day fund' each month.

While it might be a bit more of a struggle, it's still possible to buy a home on a single income. For more tips and insight, be sure to contact your local real estate professional. They'll be able to share how other single-income families have bought homes in your local market.

For more information about our team, check out www.coeregroup.com .

7 Fun And Easy Housewarming Gifts | Coe Real Estate

Thu, 24 Feb 2022 13:00:03 GMT

These are some fun and always welcome gifts.

Whether you have new neighbors next door or old friends moving across town, a housewarming gift is a great way to show you care. New owners always appreciate anything that relieves the pressures of moving and settling in to an unfamiliar neighborhood. Here are seven fun and easy housewarming-gift ideas for your friends.

A Door Wreath

You can choose a wreath that fits the season or that is simply attractive on the front door. Include a wreath door-hanger and storage box so they can easily hang it or put it away.

A Pair of Candlestick Holders

Candlesticks are a simple, yet practical gift for a new home. They’re perfect for a mantle, dresser or table. Choose attractive candlestick holders that match the house’s décor and include a set of candles to burn.

A Homemade Meal

Moving and getting settled in a new house takes tremendous time and effort. This leaves little time to cook nutritious meals. Bring either a takeout or home-cooked meal along with disposable plates and utensils for a much-appreciated housewarming gift.

Fresh Flowers

Nothing makes a room look more inviting than fresh-cut flowers or a lush green plant. Flowers add a punch of color while plants last longer while still requiring little work. Choose flowers that fit the season or a plant with full, green leaves that is easy to maintain.

Scented Candles

Not only are they practical, but they also help bring comfort and serenity to the chaos of moving. Choose a theme for the candles, such as a color or a scent that matches the style. Include candles of different shapes and sizes and a lighter.

Picture Frames

Keep in mind the house’s décor as you choose a picture frame. Wood, pewter, bamboo or decorative glass looks great in a casually decorated house. If the house has a more formal décor, choose crystal or silver. It’s be fun for your friends to have a place to display their new memories.

For more information about our team and how we can help out, go to www.coeregroup.com .

6 Green Features To Consider When Remodeling | Coe Real Estate

Wed, 23 Feb 2022 13:00:10 GMT

Incorporating green technology is getting even easier.

Sustainable materials, energy savings and smart home technology are high on the list of buyer wants in a home. But there are some other architectural and design trends t hat will change the way Americans live in 2018 and beyond. When planning a remodel, it pays to pay attention to green features, as well as to improved floor plans that will make a home more comfortable, more appealing and more functional.

Here's what's hot right now:

Natural and Sustainable Materials

Eco-consciousness and concerns about individual health and wellness prompted a return to natural woods and stone, as well as organic forms and living greenery. All are prominently featured in today's show houses and and on design shows. For both residential and commercial design, there is renewed emphasis on the importance of natural light, views, air quality and open space as elements that affect not only mood and function but also health and well being.

Reclaimed and Recycled Products

No matter what the design or decor, there is a way to incorporate previously used materials. Recycled plastic is commonly used for roofing tiles, carpet, insulation, composite lumber and decking material, decorative trim and landscaping rocks. Reclaimed beams, distressed wood flooring, stunning countertops fabricated from recycled glass, wood chips and even cardboard, are only a few trendy possibilities. For a planned remodel, be sure to investigate what's available, including "repurposing" used building materials like old windows, vintage gates or antique furniture.

LEED Certified Construction

Resource conservation and energy-savings are a way of life and worthy of attention. In some ways, Europe and Asia lead the U.S. in terms of conservation, but one way to assure that new homes are built to a certain standard is to insist on roF

LEED certification which stands for Leadership in Energy and Environmental Design. It's a compliance and rating system for both residential and commercial construction that is recognized internationally.

Energy-Star Rated Appliances, Systems, Fixtures and Fittings

It would be difficult today to buy a new appliance or furnace that is not energy-efficient. But in an older home, even if existing appliances, faucets and fixtures, heating and cooling systems are still operational, it might be wise to consider replacing them. Sometimes the savings on monthly water and electricity alone makes financial sense. And new replacements always add to a home's appraised value.

Rooftop Solar Panels

There is ample evidence that buyers will pay a premium for solar homes. Although the initial investment is relatively high, an owner will benefit from an immediate reduction in energy cost, and the added property value might make such an investment worthwhile.

Smart Home Technology and Home Automation

Buyers today almost universally want a wireless security system and some form of programmable temperature control. Additional smart home features high on the list of consumer wants include lighting controls, wireless hubs that integrate entertainment and convenience features, and trendy apps that allow control of home functions via smart phone, whether from across the block or across the globe. Owners who are motivated to sell will look to these buyer wants in order to be competitive in today's hot real estate market.

Best Tax Deductible Home Improvements | Coe Real Estate

Wed, 02 Feb 2022 21:32:48 GMT

Improve your home and tax bill.

Before delving into tax-deductible home improvements, it's important to understand that these deductions won't be applied immediately. In most cases, homeowners can only benefit, tax-wise, from their home renovations when they sell their home. It's important for homeowners to keep receipts for their improvements, though, so they have proof, even if it's years later when they sell their residence.

Home Improvements That Can Yield Tax Benefits

A home improvement is any project that substa ntial ly adds value to a home. The following are some general home improvements that can yield tax savings when a home is sold for a profit.

Room additions
Upgrades to plumbing
Kitchen improvements
A new roof
New bathrooms
Upgraded landscaping
Improvements to fencing
New decks
Improved wiring
New walkways
Driveway improvements
Plumbing upgrades

How Delayed Tax Benefits Work

While a homeowner can't take the amount of money they spent on one of the above home improvements and deduct it that same tax year, they can sometimes benefit from the investment in their home. This is true because a homeowner can effectively reduce the amount of taxes they have to pay if they sell their home for a profit down the road.

When an improvement is made, the cost of those improvements are added to the tax basis of a home. The basis is the investment in a home for tax purposes. The greater this number becomes, the less the profit is from selling a home. The following explains it a little better:

Example Of Tax Basis And Home Improvement Tax Savings

A fictional homeowner purchases their home for $600,000 and sells their home 20 years later for $1,000,000. Their original "profit" from the sale would have been $400,000, which would have been taxable income at the time of the sale.

However, throughout the 15 years when they resided in the home, this homeowner made around $60,000 worth of home improvements, including a roof improvement and a kitchen update. The $60,000 is then added to the original investment this homeowner made in their home, bringing their tax basis to $660,000.

The homeowner's profit when they sell their home is then reduced from $400,000 to $340,000. Many homeowners use home improvements as a way to reduce the amount of taxes they will one day have to pay when they sell their home for a substantial profit.

More Ways Homeowners Can Benefit From Their Home This Tax Season

Homeowners can make their home work for them each and every tax year by qualifying for the home office deduction. This only works if they own and operate a legitimate business out of their home, though. A part of the ho me must be used either regularly or exclusively for the business to qualify.

The above is some pertinent information on how homeowners can use home improvements to reduce their tax burden.

For more information on our team and how we can help you find your next home, go to www.coeregroup.com .