According to the Keeping Current Matters, if you’ve been thinking about upgrading to a larger or more luxurious home, you're not alone. Many homebuyers today are looking for more space or improved living conditions. However, you may have delayed your plans due to the recent market challenges, especially with affordability concerns when considering an upgrade. But here’s the good news: the current market may be the perfect opportunity to move up to your dream home. Let’s explore why this is an ideal time to act. Maximize the Value of Your Home Equity One of the biggest benefits for homeowners right now is the significant amount of equity many have built up over the years. Even with market fluctuations, home prices have generally risen, meaning your current property may be worth much more than when you first bought it. If you’ve owned your home for a while, you may have accumulated a considerable amount of equity. This can be used as a substantial down payment on your next home, helping to keep your mortgage more manageable. Lower Mortgage Rates Increase Your Buying Power Another compelling reason to upgrade now is that mortgage rates have been falling. Lower rates mean more affordable monthly payments, giving you greater purchasing power. This could allow you to consider homes at a higher price point that may have been out of reach before. With more favorable financing options, this might be the perfect time to find the home that fits your needs and lifestyle. Bottom Line Now’s the time to make your move. With increased equity and favorable mortgage rates, upgrading to your dream home is within reach. Contact the Benson Group today, and let us help you navigate the market and find the perfect home for your next chapter. Source: www.keepingcurrentmatters.com

According to US News, a starter home is an entry-level property, often smaller and more affordable, where many buyers begin their journey to homeownership. These homes are typically modest in size and may need minor improvements. However, they have become increasingly difficult to find due to rising prices and high demand. Why Are Starter Homes Harder to Find? The availability of starter homes has decreased significantly, and prices have risen, making it challenging for first-time buyers. Increased interest rates, high demand, and limited new construction have reduced the supply of affordable homes. Many vacant properties also require extensive renovations to become livable, limiting the options for budget-conscious buyers. Should You Build or Buy a Starter Home? While building a starter home may seem ideal, construction costs and a focus on luxury properties by many builders have made affordable new builds rare. As a result, prospective buyers often find better opportunities in existing homes, which tend to be more affordable and available sooner, allowing buyers to start building equity immediately. What’s the Difference Between a Starter Home and a Forever Home? Starter homes are often smaller, more basic, and serve as a temporary entry into homeownership, while a "forever home" is typically larger, with added features for long-term living. Forever homes are designed to support changes in family and lifestyle over time, offering more space and amenities. Is Buying a Starter Home Worth It? For first-time buyers, the choice between purchasing a starter home or saving for a forever home can be difficult. Buying now allows you to start building equity, but it’s essential to ensure financial readiness to make this investment worthwhile. If you're considering purchasing your first home, contact Benson Group for expert guidance on finding the right property for your needs and budget. Source: US News

According to Keeping Current Matters, for over 79 years, VA home loans have helped countless Veterans achieve the dream of homeownership. However, only 3 in 10 Veterans are aware they may be able to buy a home without a down payment. It’s crucial for Veterans—and anyone who supports them—to understand the value of this benefit program, as it can make homeownership easier and prevent essential life plans from being delayed. Key Benefits of VA Home Loans VA home loans offer several advantages designed to make homeownership accessible for those who have served. Here are some key benefits: 1. No Down Payment Options One of the main advantages of a VA loan is that many Veterans can purchase a home with zero down payment, making it easier to start the homebuying journey without years of saving. 2. Reduced Closing Costs VA loans limit the types of closing costs Veterans have to pay, ensuring that more funds stay in their pocket at closing. 3. No Private Mortgage Insurance (PMI) Unlike conventional loans, VA loans do not require PMI, even with lower down payments. This can result in significant savings through lower monthly payments over time. Having a team of experienced real estate professionals, including a local agent and a trusted lender, is essential to fully understand the benefits and options available through the VA loan program. Bottom Line Owning a home is a cornerstone of the American Dream, and VA home loans offer powerful support to Veterans in reaching that goal. Contact Benson Group  today to connect with experts who can guide you through the process and help you make informed decisions about your home-buying journey. Source: Keeping Current Matters

According to Keeping Current Matters, over the past few years, many homeowners have been holding off on selling their homes due to the fear of higher mortgage rates. This hesitation has been one of the primary reasons for the low inventory of homes on the market. However, a growing number of homeowners are now deciding they can’t wait any longer. Personal and lifestyle changes are often the driving force behind this decision. Whether it’s a new job, a growing family, or retirement, there are several key reasons why homeowners are choosing to sell now. If you're unsure whether it's the right time for you, here are the top reasons why others are deciding to sell: 1. It’s Time for a Change Whether it's a job offer in a different city, a desire to be closer to family, or simply wanting a change of scenery, many homeowners are choosing to sell to make a fresh start. If you’ve recently landed a new job that requires relocation, selling your home quickly might be the best step forward. 2. Lack of Space As families grow or needs evolve, some homes no longer provide the space homeowners need. A growing family, the need for a home office, or simply more room for entertaining may push homeowners to upgrade to a larger property. For example, expecting parents living in a condo may find upgrading to a larger home more practical. 3. Retirement or Downsizing For some, retirement or the desire for less maintenance has led to the decision to downsize. If you're ready for a simpler lifestyle, selling your current home to move to a smaller, more manageable space can help you enjoy the next chapter in life with fewer responsibilities. 4. Changes in Relationship Status Changes in relationship status, such as a divorce, separation, or marriage, often require new living arrangements. Selling a home that was once shared can allow individuals to move forward with a new living situation that suits their current needs. 5. Health and Mobility Needs Health or mobility challenges can make it necessary to find a home that better suits your needs. For some, selling a home that no longer meets those needs and moving to a more accessible space can significantly improve their quality of life. If any of these reasons apply to you, now might be the right time to sell your home. Contact Benson Group  for expert advice and assistance in navigating today’s real estate market and finding the best solutions for your needs. Source: Keeping Current Matters

According to US News, if you’ve just rented or bought your first home and are ready to make it your own, where to start with furnishings, décor, lighting, and, most importantly, wall colors? Deciding on a color scheme can feel overwhelming, but color is the most affordable way to transform a space, providing an immediate, high-impact upgrade. Here are some essential color tips to guide you in personalizing your new home. Start with Inspiration: Moving into a new home often means dealing with neutral colors or a previous owner's choices. To get inspired, platforms like Pinterest and TikTok offer countless ideas. Look for color schemes that speak to your personal taste. Monochromatic Schemes: A monochromatic color scheme, using varying shades of one color, is simple yet impactful. Even iconic places like the White House use single-color rooms, demonstrating how elegant a one-color scheme can be. The 60-30-10 Rule: To make color planning easier, follow the 60-30-10 rule: 60% of a room in a primary color, 30% in a secondary color, and 10% in an accent. This formula creates a balanced, harmonious look that’s visually appealing. Choose Colors from Your Closet: Your wardrobe can provide great clues for home colors. The hues you’re naturally drawn to can work well in your living space, creating a home that feels personal and inviting. Consider Room Exposure: Lighting changes throughout the day, so room exposure affects how colors appear. For instance, north-facing rooms benefit from warmer tones, while south-facing rooms suit cooler colors like blue and green. Experiment with Color Properties: Hue, intensity, and saturation play significant roles in the mood of a space. Mixing primary colors and adjusting with white or black lets you refine your palette and match it with furniture and décor. Make Your Home Uniquely Yours: Don’t hesitate to experiment and trust your instincts. Color is the easiest way to express your personality and make your space truly feel like home. For more expert guidance, contact Benson Group ! Source: US News

When it’s time to find your perfect home, count on Benson Group  for expert guidance and support. Get in touch with us today to start your journey!

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years , you’ve likely gained more than you think. According to the latest Equity Insights Report from CoreLogic , the average homeowner has more than $274,000 in equity right now . That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: “ While the pandemic created serious challenges, the silver lining for anyone who owned a home was the sizable equity gain. Understanding how home equity works, and how to leverage it, is important for any homeowner .” Here are a few examples of how you can put your home equity to work for you. 1. Buy a Home That Fits Your Needs If your current space no longer meets your needs, it might be time to think about moving to a bigger home. And if you’ve got too much space, downsizing to a smaller home could be just right. Either way, you can put your equity toward a down payment on a home that fits your changing lifestyle. A real estate agent can help you figure out how much equity you’ve got and how to use it when buying your next home. 2. Reinvest in Your Current Home Renovations are a great option if you want to change your living space, but you aren’t yet ready to make a move. Home improvement projects give you the freedom to tailor your home to match your needs and personal style. But it’s important to consider the long-term benefits certain upgrades can bring to your home’s value. Lean on a real estate professional for the best advice on which improvement projects to prioritize in order to get the greatest return on your investment when you sell later on. 3. Pursue Personal Ambitions Home equity can also serve as a catalyst for realizing your life-long dreams. That could mean investing in a new business venture, retirement, or funding an education. While you shouldn’t use your equity for unnecessary spending, using it responsibly for something meaningful and impactful can really make a difference in your life. 4. Understand Your Options to Avoid Foreclosure Today the number of foreclosure filings remains below the norm, so there’s no need to fear a wave of foreclosed homes flooding the market. But unfortunately, there are still some homeowners who experience the foreclosure process each year. If you’re facing financial difficulties, having a clear understanding of your options and how your equity can help is crucial. Equity can act as a financial cushion that can be used in times of unexpected challenges or unforeseen circumstances that may disrupt your ability to make mortgage payments on time. In an article, Freddie Mac explains it this way: “ If exiting your home is the best option for you, selling with equity may be a good option. When selling with equity, you are using the proceeds from selling your home at a higher price than the amount you owe on your mortgage to pay off your remaining mortgage debt .” Bottom Line Your equity can be a game changer in reinvesting in your needs, pursuing your goals, and even helping you avoid foreclosure during difficult times. If you’re unsure how much equity you have in your home, connect with a local real estate professional so you can start planning your next move. ----- Source: keepingcurrentmatters.com