The Reading Corner Is a Must-Try Cozy Decor Trend This Season

by Stephanie K. Chan

Few things are as satisfying as curling up with a good book on a chilly day, but leave it to TikTok to make this time-honored activity even better with its latest design trend, the reading corner. Situated perfectly at the intersection of the #cozyaesthetic and #BookTok, a megatrend with over 84.5 billion views, a reading corner (or reading nook) is now the new must-have design feature of 2022. And while not all online trends translate well into real life, this is one that certainly does.

Why Reading Corners Are Seeing a Surge in Popularity Now

At its heart, a reading corner is simply an area dedicated to being the perfect spot to read. A quiet place to unplug is the perfect antidote for today’s fast passed and ultra-connected lifestyle, and making a space in your home that acts as a refuge from the world is a sensible style choice.

It’s not just internet influencers who are setting up reading areas, either. Alex Kaehler of Alexandra Kaehler Designs confirms that she’s also seeing an increase in requests for book corners; their popularity reflects the way we live now. “My clients are generally spending a lot more time at home, and as such want nooks to ‘retreat,’” Kaehler says. “Not everyone has a room where they can go to escape, so creating a dedicated spot for reading is ideal.”

Reading nook by designer Alexandra Kaehler — ALEXANDRA KAEHLER

Many people are still working from home at least a few days a week (if not more), as well, and with all the additional hours spent in our houses and home offices, at some point, we’ll all likely want to change things up design-wise. This may be another reason reading corners are trending: They’re a quick and easy way to do a room refresh without a major overhaul. You may be able to create a reading area just by repurposing pieces you already own, so this is a perfect time- and budget-friendly DIY project if you can’t invest in new furniture or devote weeks to renovating.

A reading corner is also the rare trend that works for just about everyone. In addition to being inexpensive, these nooks fit into homes large and small, and within all styles of decor. Any unused spot can be transformed into a reading corner with a little effort. In fact, a reading nook can be an excellent solution for giving an awkward, unused corner style and purpose.

How to Create the Perfect Reading Corner

While it might feel a little indulgent to create a space dedicated just to reading, that’s part of the pleasure of a reading corner. Having a special nook elevates the experience and gives your leisure time an element of self-care. With just a few small changes, you can establish an area that feels like it’s worlds apart from the hustle and bustle of everyday life and allows you to relax and recharge. Depending on your style, there are endless options for adding a reading corner to your home, but here are a few ideas to get you started and inspire you to set up your perfect reading refuge.

Window seat with green bookshelf built-ins — JOHN BESSLER

Naturally, the most important item for a reading nook is a comfy place to sit; whether that’s a chair or the well-padded bench of a window seat, you need a spot you can lounge for hours.

“Wherever we put a cozy chair, we try to add a side table to put a drink or a book and a lamp to have additional lighting,” Kaehler says. “If you have the space, adding in an ottoman is a really nice touch, and that makes it even more comfortable to spend time in the chair!”

To make sure your reading corner has all the basics, consider adding a shelf or bookcase where you can store some of your latest reads and old favorites, so you always have plenty of books at hand.

Once the basics are covered, add details that let your style shine. These little touches are what make your space unique, so let your imagination run wild—a small space like a reading nook is the perfect location to experiment with bold style, like peel-and-stick wallpaper or extravagant floor coverings. You could even go a little kitschy and add a nod to your favorite book genre—perhaps a magnifying glass for a mystery lover or a floral print for a budding botanist. As long as you love it, anything goes!

Finally, consider ways to involve different senses to enhance your reading experience. The warm glow of candles or a diffuser with essential oils can set the tone for a quiet evening at home, or a special cup of tea can signal it’s time to wind down. Add a soft throw blanket as a finishing touch, and you’ll be all set for a wonderful reading experience.

Buying • Market Trends • Selling • November 7, 2022

October 2022 Oahu Market Statistics

by Stephanie K. Chan

O‘ahu Home Sales Drift Downward Amid Dampened Buyer Activity
Properties are spending longer on the market, marking a median of 19 days

Buyer activity continues to slow with closed sales of single-family homes dropping 41.7% and condos falling 28.8%. Median sales price growth has also decelerated, though prices remained up year-over-year, with single-family homes increasing 5.0% to $1,050,000 and condos rising 4.0% to $520,000.

Properties that closed in October were on the market for a median of 19 days in both markets, up approximately eight to nine days year-over-year. Bidding over the asking price is shifting downward in both markets. For single-family homes, sales this October were split, with 50% of single-family home sellers receiving their full asking price or more, while the other 50% of sales closed below the original asking price. That’s a notable difference considering 75% of single-family homes sold at full asking price or more in October 2021. The condo market also saw 48% of sales close at the full asking price or more, compared to 59% last year.

“Higher financing costs are dampening buyer activity, meaning sellers’ properties are spending more than a week longer on the market compared to last year,” said Chad Takesue, president of the Honolulu Board of REALTORS^®. “As buyers and sellers seek a new balance under the current market conditions, we’re also seeing the prevalence of bidding over the asking start to wane compared to what we saw in 2021.”

Home Improvement • November 7, 2022

Dark, Moody Kitchens Are the Next Big Style

by Stephanie K. Chan

Move over, all-white kitchens. Although these bright spaces remain a classic color choice, designers say there’s a definite shift toward darker, moodier kitchens. In fact, according to a just-released 2023 trends report by the National Kitchen and Bath Association (NKBA), “moody” is expected to be one of the top three most-popular tones for kitchen design in the immediate future.

dark kitchen with marble island and clear glass cabinets — NATE SHEETS

The cause of this kitchen color shift is simple—homeowners are ready for something different. “The white kitchen has dominated the market, at all price points, beyond its prime,” says Ellen Lopez, founder and creative director at EL Design Studio. Incorporating color is a trend expected to take off throughout the home, and the kitchen is at the center of it all. “The kitchen signifies a place for everyone to gather, and the idea of dark and moody to me also translates as warm, cozy, and togetherness,” says Nureed Saeed, owner and creative director of Nu Interiors. “It’s not surprising that people want to feel warmth in the place they spend the most time.”

We asked four NKBA-certified designers why this style is on the rise and how to nail the luxe look.

How to Get a Moody Kitchen

“Dark kitchens are all about luxury and quiet comfort,” says Crystal Hackl, the designer behind Inspired Haven Design. “Think deep, rich painted cabinetry, natural stone countertops, luxe gold tones, and clean horizontal lines.” Mix in warm woods and plenty of texture, and you’re set for a dreamy kitchen. Here’s how to pull off the look so your space feels fresh and inviting rather than gloomy.

kitchen dark cabinets marble backsplash — INSPIRED HAVEN DESIGN

1. Dark Cabinets

Start with a dark foundation, says Lauren Schulte, owner of Monarch Kitchen Design Studio. “Choose a deep color, whether it is a heavy forest green, dark navy, charcoal, or black,” says Schulte. Greens and blues are already popular kitchen colors, and they make a rich, earthy choice when used in a darker hue. The strong color should definitely be used on base cabinets, but Schulte says applying dark shades to both base and upper cabinets will have the biggest impact. Walls can use a similar tone for depth and drama.

dark kitchen island with barstools — MICHAEL PARTENIO

2. Natural Elements

Wood, stone, and earthy colors are a must for this look. “A dark kitchen can feel very intimate and calming and grounding, particularly if it uses colors found in nature and plenty of natural elements,” says Hackl. All the designers agreed, identifying wood and stone as key natural elements complementing the warm, dark blues, greens, and blacks prominent in the moody aesthetic.

Look for ways to incorporate warm woods, like walnut and oak, through floating shelves, tables, barstools, ceilings, or other accents. Natural stone and stone-look countertops, flooring, and backsplashes are another option. Marble and quartzite are two popular suggestions, particularly because they offer “movement and drama” to a space, according to Hackl.

brown leather stools in dark kitchen — NATE SHEETS

3. Light Surfaces

“The key to pulling off a dark kitchen is layering and balancing dark tones with lighter elements,” says Hackl. How many light surfaces are used in a kitchen varies; the more dark surfaces, the moodier and more dramatic the space. If you’re committing to dark cabinets and walls, try lightening up at least one of the other main surfaces. “In most traditional dark moody kitchens, the countertops are light and airy,” says Lopez. “Since the surface is horizontal, the light countertop reflects the light; this softens the mood.”

kitchen with dark green cabinets and farmhouse sink — WERNER STRAUBE

4. Metallic Accents

“Oftentimes when you see moody styled kitchens, the glamour in the room is in elements of metal,” says Schulte. Much like light countertops or other surfaces, metallics offer visual relief from dark colors. “Since the look is very rich, there needs to be a resting place for the eye, particularly in a monochromatic space where the walls, cabinets, counters, and ceilings are nearly the same color,” says Schulte. “The best way to highlight it is through bold accents, whether it be the hardware or a heavy gold frame, light fixtures, a beautiful faucet, or even just the bowls that sit on the counter.” But these grounding elements don’t have to be metallic: light wood accents, white apron-front sinks, and other elements that pop against the dark backdrop can do the trick.

kitchen with black tile floor wood beams wood cabinets — NU INTERIORS

5. Varied Textures and Tones

“The main thing with this look is to not confuse dark and moody with monochromatic or lack of detail and interest,” says Saeed. Although moody kitchens aren’t exactly colorful, they’re certainly not monotone. Even if monochromatic, the best dark, moody kitchens use varying shades and textures for depth. “Choosing shades or tones and texture within a color range is key to making the look work while not looking one-note,” says Saeed. If you’re sticking with a dominant color, look for ways to vary it. “Tile with 3D reliefs or texture also work well to create dimension and help bring interest to the space,” says Saeed.

blue kitchen cabinets and dark wood counters — EDMUND BARR

6. Hidden Appliances

“This look is a distinct departure from the white kitchens that have had a long moment in the spotlight. It’s a reflection of the kitchen’s growing role as a living space, one that feels less like a kitchen and more like an extension of the social spaces in the home,” says Hackl. Minimizing the presence of appliances is one way this aesthetic is developing. According to Hackl, appliances should be concealed with paneled fronts, and the range hood camouflaged with something like stone, wood, or plaster so that it blends with the rest of the kitchen. Countertop appliances should be tucked away inside cabinets or located in a pantry.

gray kitchen cabinets — EL DESIGN STUDIO

7. Clean Lines

Although most of the design elements key to moody kitchens can be applied to any design style, the pros agree that the clean horizontal lines of modern and transitional styles are an ideal canvas. The stones and woods common in midcentury design are also perfect complements. You might find that the color balance in a moody kitchen is one way to make this look lean more contemporary or more traditional. “I’ve noticed that the modern kitchen is usually paired with darker countertops while the traditional and transitional kitchen is paired with the light, marble-like tops,” says Lopez.

kitchen with blue cabinets — EL DESIGN STUDIO

8. Good Lighting

Lighting is imperative for safety and functionality in every kitchen, but it’s especially important in a kitchen with many dark surfaces. You’ll need the usual artificial kitchen lighting, as well as an abundance of natural light, which provides the warm glow that supports the moody aesthetic. “In addition to the natural light, I like to incorporate a decorative mirror,” says Lopez. “The mirror visually expands the space and acts to reflect the light and color.”

Garden • November 1, 2022

How to Grow Olive Trees Indoors

by Stephanie K. Chan

Olive trees are beautiful plants known for their slender, slivery green leaves and of course their tasty edible fruit. Hailing from the warm Mediterranean region, this plant can’t take a lot of cold, but you can grow it indoors as a houseplant no matter where you live. To keep your indoor olive tree thriving, you’ll need to give it plenty of light, but not too much water, and watch out for certain pests. Here’s what you need to know to grow olive tree indoors successfully. Your tree might even produce fruit over time!

Growing Olive Trees Indoors vs. Outdoors

Olive trees are evergreens native to the Mediterranean region. “There are numerous varieties,” says Ray Greenstreet II, owner of Greenstreet Gardens in Virginia, “but olive trees can be divided into two categories: olive trees that you can harvest, and ornamental olive trees that do not produce any fruits.”

Both types of olive trees prefer warmer environments and are sensitive to freezing temperatures. Because of this, growing olive trees outdoors can be a bit tricky in places with cold winters. “They grow best outdoors when planted in a subtropical climate (mild winters and dry summers),” says Greenstreet. If your landscape doesn’t meet those conditions, growing olive trees indoors is an alternative.

How do you care for an indoor olive tree?

Be sure to give your olive tree plenty of light, preferably through a south-facing window, to help it thrive in an indoor environment. If you don’t have enough natural light, get a full spectrum grow light to supplement.

It’s also important to keep the potting soil moist, but don’t overwater your tree. “Olive trees need moist but well-drained soil. “When an olive tree gets too dry, it will naturally defend itself and all the leaves will drop at once. Don’t panic though. Foliage will regrow quickly so don’t give up on your tree if this happens,” says Greenstreet.

As for pests, “scale is a common issue seen on olive trees,” says Greenstreet. He advises checking your tree’s leaves and stems often for the tiny, brown, bumpy bugs. Neem oil can help get rid of scale safely.

Pruning Indoor Olive Trees

When olive trees grow, they will shoot upwards and out like an umbrella. “Olive trees produce natural layers and are slow growers, so pruning is often not needed,” says Greenstreet. “If you need to thin out your tree, remove the tips and lower branches while pruning it to shape. Aim for the spring or early summer season after the tree has produced some buds to prune.”

Repotting Indoor Olive Trees

Repot your olive tree during spring (when the days start to get longer) into a little bit bigger container. This will help promote new growth. “Use a good, organic, well-draining, balanced soil to repot your olive tree,” says Greenstreet. He recommends finding a potting mix that is labeled for palm, citrus, and orchid plants because these mixes usually have higher levels of micronutrients that your indoor olive tree needs.

“When you are repotting your olive tree, don’t bury your plant any deeper than it was in the first pot,” says Greenstreet. “Make sure the roots have plenty of space to grow by filling the bottom of your pot with soil before placing your tree.” Once you’ve repotted your olive tree and filled in around it with fresh potting mix, water well to help the soil settle around the roots.

Where can you buy an olive tree?

To find an indoor olive tree, try visiting your local garden center. “Olive trees are a bit more difficult to find, so if you are interested, let your local garden center know before the spring season. Most olive trees are imported from the southern regions, and need to be booked in advance,” says Greenstreet. “If you let your garden center know, they will be able to special-order one for you.” There are also several online options for purchasing a potted indoor olive tree.

Home Fun • October 27, 2022

Game On: High-end Gaming Tables Come Out of the Basement

by Stephanie K. Chan

Gleaming gourmet kitchens. Magnificent living spaces. Ample bedroom suites. When it comes to luxury homes, some interior must-haves are fairly obvious. But, today, a newer space is being elevated from niche to necessary: the grand game room.

Decked out with custom game tables cloaked in contemporary, bespoke grandeur, these spaces are delivering a new level of home entertainment, triggered — not surprisingly — by the start of Covid-19. But while the pandemic certainly put game rooms in finer focus, high-end manufacturers and retailers continue to see buyer demand today.

Photo by Anthony Barcelo

“During the pandemic, people were forced to spend more time at home, which created a higher demand for game tables, resulting in direct growth for IMPATIA,” says Gregg Brodarick, founder and creative director of the Italian-based, artisan-crafted luxury game table company. “In terms of growth for the luxury game room, this aspect is mainly driven by the interior design community and homeowners’ desire to revamp their average basement or entertainment room into something much more modern, immersive, and aesthetically beautiful.”

That modern aesthetic is a hefty departure from the more traditional look that dominated the game table market for decades. It’s also one of the reasons Los Angeles-based luxury gaming design company, 11 Ravens, has experienced “extreme growth” in luxury game tables over the last decade, says founder Michael Zaretsky.

“We attribute our growth and popularity to a number of factors. One, we began creating custom luxury game tables with modern design that was never offered before. Traditionally you see antique, carved-wood, heavy pool tables. Two, Covid has increased play at home, and then the improvement of Covid bringing employees back into the office has incentivized companies to create amenities like game rooms in their offices.”

11 Ravens/Arclight Chess Table

Billiards tables remain a cornerstone for these high-end brands, comprising the largest share of the game room market, with sales that are expected to reach $291.6 million by 2028. “We see pool/billiards as the most consistent product trending with our clients worldwide,” says Zaretsky.

But they’re hardly the only option. Today, you may be just as likely to walk into a $19 million Corona del Mar home and entertain in a space that features custom shuffleboard and ping-pong tables, as well as three full-size pinball machines. Or this exceptional $52 million Bel Air estate, which is magnificent in every inch of its 36,000 square feet. That includes the expansive game room, with billiards, ping-pong, and foosball tables, as well as shuffleboard.

IMPATIA/ Fillotto

IMPATIA/Derby

IMPATIA’s all-time, top-selling game tables, the contemporary glass Fillotto pool table, and the Lungolinea ping-pong table, fashioned in Italian leather with a glass playing surface, are indicative of the look luxury homeowners and designers have been seeking. Over the past year, the company has seen increased demand for their Unootto poker table, which also features an all-glass playing surface, and their newly launched glass-top Derby foosball table.

For 11 Ravens, contemporary trending spurred the addition of premium lucite to their collection. Lucite is available on the company’s Avettore, Theseus, Macan, and Malibu styles, the last of which Zaretsky calls a “versatile and popular model with sleek and minimalist lines (that is) also easily customized with materials like teak for outdoor use, hemp wood for sustainability, or metal finishes for a luxurious reflective surface.”

Photo by Anthony Barcelo

With clean lines, an abundance of customizable options, and designs that can look more like sculpture than leisure, these sophisticated high-end tables can fit in with any kind of décor and exhibit an appeal that makes them showoff worthy. “A big trend we are seeing is more modern aesthetics combined with premium materiality versus the traditional bulky game tables,” says Brodarick. “Putting a stronger focus on the design of each game table has resulted in clients and designers being more inclined to incorporate game tables into their everyday spaces as a statement piece rather than just hiding them in a basement.”

Home Improvement • October 25, 2022

Tips for the Perfect Home Color Palette

by Stephanie K. Chan

When it comes to adorning the walls of your home, you need to do a little digging and a lot of experimenting before making a color commitment. Every creative venture requires inspiration – and that especially applies to decorating your home.

Look to Mother Nature. Any color combination found in nature can easily be translated into an interior arrangement and make for a soothing ambience. Spend a little time outside, observe which tones you’re drawn to most and bring your ideas back home.
Defer to a beloved pattern. Whether it’s from your favorite wallpaper, dress or artwork, a preexisting pattern is likely to coordinate well. Even if the pattern incorporates disparate colors, a harmony can be achieved by layering a dominant tone with more subtle hues.
Consider your target vibe. The colors in each room should correlate, emotionally and visually, so pinpointing the overall atmosphere you want for your home can help you determine which shades to use in each room.

The process of conceptualizing your perfect home palette also requires some technical observation. Here are some additional steps to help in your color choices.

Sketch out a floor plan. Note the immovable pieces in each room – such as wallpaper, furniture or décor. Be sure that the hues you’re considering can coexist with these items.
Understand and contemplate value. As you put together your favorite mix of colors, consider the concept of value, or the relative degree of lightness and darkness. Think about integrating dark, bright and light shades in each room.
Observe daily light changes. Color is drastically impacted by light, so you should note how much daylight each space receives. For a room with less sun exposure, use a warm combination to offset the shadows. For a room with plenty of windows, darker hues may be best.
Decide on a neutral. A successful in-home color palette should include one neutral hue. These timeless shades give the space a cohesive look and feel. When certain color fads fade, you can phase them out while keeping your neutrals and general design intact.

Before applying a single stroke of paint to any of your walls, you’ll want to buy samples of your favorite shades and test them out on a small section of your walls. After you’ve done some informed, artistic deliberation, the home color scheme of your dreams will be within reach.

Home Improvement • October 21, 2022

Windows that Wow

by Stephanie K. Chan

What’s one of the fastest and easiest ways to update a room? You guessed it – window treatments. Gone are the days of heavy, dark, drab curtains. Instead, you can refresh just about any space with a variety of modern options to fit every style and budget.

Now Trending
Whether you’re creating a home office space, looking to be more eco-friendly or moving into a new home and want to add your own personal touches, window treatments can make all the difference.
If energy efficiency is on your list, you have many options to choose from. High-tech cellular shades offer temperature control capabilities in a variety of innovative designs. Roller shades have a modern, minimal look and provide UV ray protection while allowing ample natural light in. Blinds have also come a long way, now designed with modern patterns, textures and materials to enhance any space.

Bring on the Drama
If you’re ready to breathe new life into a room and add a little drama, consider luxurious curtains. Depending on how much light you want, a sophisticated, patterned drape can set the mood and make a bold statement.

By introducing a pop of color, like a bold orange or deep red, you can give your space a dramatic new look. Not into vibrant tones? White window treatments can be just as impactful. Layer white shades with a gauzy curtain to create a romantic and whimsical feel. You could also inject a little boho chic into a room by pairing classic woven or bamboo shades with patterned drapery. Whatever you choose, curtains can easily give your home a whole new look in a matter of minutes.

Smart Tech
Who would’ve thought that you’d be able to open and close your curtains with the touch of a button? Say hello to smart windows, which let you control your blinds, curtains or shades through either a remote control or handy app. You can easily set up a schedule or use the setting to adjust your window treatments without even having to leave your comfy couch.

Giving your interiors a fresh new look is easier than ever by simply by changing out your window treatments. Whether you’re creating a space that’s soft and serene or bright and bold, these ideas should help set you off on the right path.

Buying • October 19, 2022

How Much Home Can You Afford?

by Stephanie K. Chan

You’ve been dreaming day and night about it: Buying your first home. It’s a thrilling prospect for everyone, especially first-time homeowners. With countless properties available online at your fingertips, it’s easy to begin house hunting as soon as the idea strikes. But it’s critical to determine your budget as a homebuyer before you start shopping seriously.

Determining your creditworthiness can help you learn what size mortgage you’ll qualify for and lead you to a realistic homebuying budget. When you obtain a pre-approval from a mortgage lender, you’ll know exactly what you can afford. Having a pre-approval letter will also make your offer more appealing to sellers. To ensure you are set for success for the homebuying journey, contact your Coldwell Banker-affiliated agent, who can connect you with a trusted loan officer.

Prior to any significant purchase, it’s important to set a realistic budget, and buying a home is no exception. Do a reality check on your personal finances. Scrutinize your monthly income, expenses and debt-to-income ratio, so you can assess what funds you’ll have available for a down payment and a monthly payment once you move into your new home.

Another important piece of this puzzle is your credit history. Check your current credit report for any debts you need to pay off so you’re in a stronger position when it comes time to apply for a loan. The higher your credit score is, the more access you’ll have to loans and lower interest rates.

Refer to a handy, online mortgage calculator to study property purchase prices. Do a quick search online and you’ll find a variety of free options. In fact, many allow you to figure in important, relevant factors such as property taxes, down payment amounts, interest rates and home insurance to provide a detailed breakdown of what your monthly payments would look like.

To be really savvy, factor in related expenses such as upfront costs, closing costs and other fees you’ll have prior to closing on a home. Also, budget for standard property maintenance expenses such as homeowner’s insurance, taxes and repairs that may be needed in the short term after closing.

Comfort and joy in your first home start with setting realistic financial expectations ahead of time. Buying a home will likely be the biggest purchase of your life, after all.

Investment Properties • Selling • October 13, 2022

Five Secrets to Successful House Flipping

by Stephanie K. Chan

If you’re looking to invest in real estate as a house flipper, you have the potential to earn high returns on your investment. However, successfully flipping homes is challenging. When you don’t have experience with this type of investment, there’s a good chance that you’ll make mistakes. Here are five secret skills and tips that should allow you to reduce your mistakes and successfully flip homes.

Be Careful When Completing a Sizable Remodel
Taking on a sizable project can be an appealing opportunity. However, large projects also have more points of failure that could lead to substantial losses. Large remodels invariably take up a considerable amount of resources and time. Your contractors may also become frustrated with working on this type of project. Always be careful with sizable remodels. Try to plan everything out before making the investment to reduce the potential for costly mistakes.

Make Sure You Have Enough Funds
If you need to take out a loan to invest in a home, you’ll need around 20-25% of the home’s value for the down payment. Costs can add up quickly when repairing and upgrading a home, so make sure you have a contingency fund on hand to handle unexpected costs.

Search for Discounted Properties
While you can certainly find homes to purchase from standard real estate listings, these listings mainly consist of livable homes that are already in good condition. If you want to find discounted properties that can be remodeled and flipped for a decent profit, consider focusing on:

Local auctions
Wholesalers
Foreclosure listings

Contact a Professional When Needed
Many house flippers will attempt to perform renovations and repairs on their own to keep costs down. Doing so, however, may result in you cutting corners. The types of projects that you might be able to perform include replacing existing carpet, installing drywall, painting walls, and removing wallpaper.

If you find that you’re taking on a repair or renovation that’s too complicated for you, don’t hesitate to get in touch with a contractor. This option should be less expensive and time-consuming than attempting the renovations on your own.

Prioritize the Most Important Improvements
It’s highly recommended that you prioritize the most important improvements when flipping a home. First, focus on essential repairs. If you miss out on repairing a malfunctioning HVAC system or other appliances, you could lose a sale.

You should also consider performing renovations that match the latest trends, which could involve installing an energy-efficient appliance or outfitting the home with a smart home system. The right changes can add a considerable amount of value to the property.

Flipping a home is never easy. These tips and suggestions should give you the skills you require to turn an old and worn-down property into a beautiful home that earns you high profits.

Buying • October 10, 2022

Feeling Left Out? How to Save For Your First Home

by Stephanie K. Chan

Feeling Left Out? How to Save For Your First Home

When the Federal Reserve dropped interest rates in 2020, the real estate market became flooded with new buyers looking to take advantage of low rates to lock in a mortgage. While interest rates have increased since that time, a large number of buyers still enter the market on a daily basis. If you’re feeling left out and believe that buying a home is right for you, your main goal should be to increase your savings to the point you can afford your first home. Here are some tips on how to save for your first home.

Identify Your Budget
Before you start saving money, you should first identify your budget. Knowing the amount of money you must save may give you the structure you need to set aside a certain amount in savings every month. Determine how much you’re able to afford when buying a home, which can be done with a mortgage affordability calculator.

While a down payment of 20% will allow you to avoid private mortgage insurance, it’s possible to purchase a home with a down payment of as little as 3-5%. Every lender and lending program has different requirements. You should also take closing costs and moving costs into account when calculating your budget.

Reduce Your Expenses
Once you’ve set a budget, you can then work on reducing your monthly expenses. Let’s say that you currently have three subscriptions to services like Netflix and HBO Max. If you can excise two of these subscriptions, you’ll start saving a small amount of money every month. To effectively reduce expenses, list every expense you currently have. Anything you don’t need at the moment could be removed from your monthly expenses.

Pay Down Remaining Debt
Along with reducing your expenses, it’s also highly recommended that you take steps to pay down any remaining debt you have. While it might seem unwise to spend your money to pay down debt, doing so will improve your credit score, which should help you net a lower mortgage interest rate. It might also allow you to get rid of expenses if you currently pay bills on a monthly basis for some of this debt.

Pick Up a Side Job
In the current economy, getting a side job is easier than it’s ever been. Some common side jobs include:

Freelance work as a musician, writer, artist, or photographer
Drive for Lyft or Uber
Test websites and apps for usability issues
Walk pets

Automate Savings
One way to control your monthly spending is by automating your savings. You can call your bank and ask them to set an automatic withdrawal that goes from your main account to a savings account. If managing your money is sometimes challenging for you, this option can be highly effective.

Saving for your first home might feel like an arduous and impossible task. However, all it requires is for you to take some small yet effective steps to build your savings. Once you’ve set a budget, you can get started on reducing your expenses, paying down debt, and even picking up a side job.