Should You Remodel or Build Your Next Home?

Finding the perfect home can seem next to impossible. At what point should you consider remodeling a home or even building a new one?

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If you can't find the right home, how do you know when it's time to consider remodeling or even building a new home?

Finding a home that's the right fit is difficult. You'll probably find yourself thinking "If I could take this home and combine it in with that home..." However, you'll want to consider a few things before deciding to remodel or build from scratch.

1. The buying process: To build a home, you need to purchase a lot and get a construction loan, which is a longer process. You could also buy an existing home and pay as you go with remodeling.
2. Time: Can you wait around for a new build? Sometimes you just don't have the time to wait 10 months or more for your new home.
3. Floor plan: Can you find the kind of floor plan you're looking for in a remodel job? Sometimes you simply can't move a wall or create that open concept that you're going for.
4. Location: There are currently 331 lots for sale in Bucks County ranging from 47 acres for $7.7 million to four acres for $5,000. If you're set on a certain location, can you find a home suited for your remodeling goals in that certain area?
5. Fun: What do you like doing? Would it be more enjoyable to build the home, or are you an HGTV nut who loves the remodeling process?

If you're looking for a home or trying to decide between remodeling or building your next home, don't hesitate to give me a call or send me an email soon. I'm here to help!

Why You Should Invest in Real Estate

If you’re looking to diversify your traditional stock portfolio, you should think about adding real estate. Today I’ll tell you why that’s a good idea.

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Today I want to talk to you about how real estate is a good addition to your traditional stock and bond portfolio. Real estate is a good investment because it offers diversification to your portfolio. It is considered its own asset class and can offer generous yields during periods of depressed economic activity and appreciation when economic activity is strong, like it is currently.

Financial advisors consider real estate an alternative investment on the level of commodities. Both are less correlated to bonds and stocks, and can help a well-diversified portfolio smooth out the rough patches. The home is most people’s largest asset, so finding exposure to real estate is typically not a priority.

However, over the long term, as long as household formation continues, real estate will continue to be a viable asset class.

However, over the long term, as long as household formation continues, real estate will continue to be a viable asset class. Additionally, some stock portfolios include allocations to mortgage insurers or real estate investment trusts, which tend to pay healthy dividends.

Furthermore, real estate market health is determined by demographic trends and economic growth. These trends continue to remain favorable, making real estate an attractive option for investors.

If you have any other questions or would like to learn about some great investment opportunities, please give me a call. I would love to help you.

Should You Put Your Home in a Trust?

Estate planning is something for all homeowners to consider. The same goes for the decision to put your home in a living trust.

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You may think this topic is only relevant for the elderly, but estate planning is a topic that all homeowners should seriously consider. Putting your home in a trust has advantages and disadvantages. The most important advantage to putting your home in a trust is that it allows you to avoid probate by transferring the title of your home to a designated family member. Another advantage is that it gives you future incapacity protection. If you become ill or unfit to manage your finances, another trustee can be selected to manage your trust and protect your home. Putting your home in a trust also gives you the opportunity to save on estate taxes.

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The most important advantage is that it helps you avoid probate.

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One of the major disadvantages of putting your home in a trust is that the process is more complex and more costly than setting up a simplified will. With a living trust, your other assets will also be subject to probate whether or not you have a will. Even modest bank investment accounts made in the trust must undergo the probate process. After you die, the trust must file tax returns and value assets, which means more expenses for your estate that might negate the cost savings of avoiding probate. Consider each of these factors carefully before making a decision. If you have any questions about living trusts or anything else related to real estate, give me a call or send me an email. We look forward to hearing from you soon.