April 2024
Brought to you by Elizabeth Scott



-  More houses went up for sale, fewer houses closed
-  Average Sold Price Increased 18.4%
-  Days on Market decreased from 48 to 42
- We are still in a SELLERS Market


Source:  Mortgage News Daily

Affordable Renovation Trends in 2024
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Affordability is a home trend that never goes out of style, and 2024 is no exception. From eco-friendly improvements to smart home technology, here are some of the top renovation trends that homeowners are embracing.

Happy Helper

Eco-Friendly Upgrades
Sustainability is a major theme in 2024 renovations. Homeowners are increasingly opting for energy-efficient windows, appliances, and LED lighting. These features not only reduce utility bills but also appeal to the eco-conscious market.
  • Tip: Look for ENERGY STAR-rated products for maximum efficiency and potential rebates. For lighting, LED options come in various colors and intensities to suit different room aesthetics.
Smart Home Features
Smart home technology continues to be a dominant trend. Integrations like advanced security systems and smart thermostats offer convenience and efficiency. Smart outlets, which are a relatively low-cost upgrade ($10-$40 per outlet), can yield an impressive ROI of 468%. These features are not only about modernizing a home but also about adding a level of functionality that's increasingly sought after in the real estate market.

Outdoor Living Spaces
More homeowners are spending their renovation budget outside by creating functional outdoor spaces. Upgraded patios, outdoor living rooms, outdoor kitchens, and serene garden spaces are popular choices. These spaces extend the living area and are ideal for relaxation and entertainment.
  • Tip: Consider DIY patio projects or affordable outdoor furniture sets to enhance your outdoor space without overspending.
Multi-Functional Spaces
The demand for versatile living spaces remains relevant, with homeowners transforming basements and extra rooms into home offices or gyms. These conversions not only make the home more functional for the current owner but also add to its selling appeal. Converting a basement into a living area can have an estimated ROI of 86%.
  • Tip: Use flexible and foldable furniture to easily switch the function of your spaces as needed.
Cosmetic Kitchen Updates
A full kitchen remodel can be costly, but minor updates like repainting cabinets or upgrading hardware can refresh the space significantly. These smaller changes are budget-friendly and can have a substantial impact on the look and feel of one of the most important rooms in a house.
  • Tip: Pair these cosmetic changes with new lighting or a stylish backsplash for a complete transformation.
Bathroom Refresh
Modern, spa-like bathrooms are in demand. Simple upgrades such as installing rain shower heads or adding a double-sink vanity can transform an ordinary bathroom into a luxurious retreat. You can also incorporate water-efficient fixtures and use calming, soothing colors to create a spa-like atmosphere on a budget.

The 2024 home renovation trends reflect a strong preference for sustainability, functionality, and modernity. Affordable yet impactful, these upgrades are a smart investment for homeowners looking to enhance both their quality of life and their property's market value.

What to Expect: First Year in a New Home
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The first year in a new home is an exciting, transformative experience. It's a blend of practical adjustments, home improvements, and settling into a new community. Here's what you might expect in each phase of your first year.

Moving in First Things First: Set Up Your Home
Before you even start unpacking, there are some crucial steps to take to ensure your new home is safe and functional:
  • Secure Your Home: Change the locks on all exterior doors for security. You never know who might have a copy of the keys from the previous owner.
  • Set Up Utilities: Ensure that essential services like water, gas, electricity, and internet are set up and functioning.
  • Safety Check: Install or check smoke detectors and carbon monoxide detectors. Ensure they are working properly and have fresh batteries.
  • Find Essentials: Locate the main water shut-off valve, circuit breaker, and any other critical home systems. Knowing where these are and how they work is crucial in case of an emergency.
  • Deep Clean: Consider a thorough cleaning of the entire house. This is easiest to do when the house is empty, ensuring you're starting fresh in your new space.
  • Home Warranty: Consider purchasing a home warranty for peace of mind, covering appliances and systems that may break down.
Months 1-3: Settling In
In the first few months, it’s all about unpacking and arranging key areas like the bedroom, kitchen, and bathroom. This is also a great time to start exploring your neighborhood, finding local amenities, and meeting neighbors. This period can be an emotional rollercoaster, so it's important to allow yourself time to adjust to this new chapter.

Months 4-6: Establishing Routines
By now, you're likely establishing daily routines and making further personal touches in your home. Consider starting smaller home improvement projects or a garden. This is also when you might start purchasing major items for your home like furniture, appliances, and home furnishings.
  • Tip: Start a regular home maintenance schedule to keep your property in good condition.
Months 7-9: Deepening Roots
By now, your focus may shift to larger projects that make the space truly yours, such as painting or planning significant renovations. This is also a time to invest in items that bring comfort and functionality to your home. Homeowners often buy window coverings, furniture, and lawn care or gardening supplies during these months.
  • Tip: On average, new home buyers spend around $12,000 on alterations and repairs in the first year, so it's wise to budget carefully and prioritize essential projects with a good ROI.
Months 10-12: Reflection and Planning
As you approach the end of your first year, you might review the changes you've made and start planning for future renovations or improvements. Consider the investments you've made in your home and how they've enhanced your living experience – what's comes next?
  • Tip: Review your home-related expenses over the year and adjust your budget as necessary.
Your first year in a new home can be a whirlwind of adapting to a new environment, personalizing your space, and embedding yourself in a new community. Embrace each moment of this journey. Here’s to the many memories you’ll create in your new home!

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