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A Guide for Purchasing a Home Together When You Are Not Married

Wednesday, August 26, 2020
by The Hat Team


A couple does not have to be joined in matrimony to buy a home together, but it is important to understand that you are still making a huge commitment.  And being unmarried does present some challenges for home buyers.  So, before you begin your home search, here are some important things for you to consider:

SHARING FINANCIAL INFORMATION

If you’re going to buy a home together, then you need to be transparent with each other regarding your finances.  You do not want to meet with a lender only to be blindsided by something that your partner did not share with you.  So, it is vital that you review all of your financial history with your partner, including your Credit Score, income, and any debts that are tied to your name.  By doing this, you will not only be able to determine if you both have good credit, but you will also get an idea of how much house you can afford together.

HOW YOU ARE GOING TO SPLIT EXPENSES

You might already be living together, in which case you may have a system in place for who pays what living expenses.  But things can be more complicated with a mortgage in the picture.  You need to discuss this before you start the home buying process. The first thing you need to figure out is how you are going to split the down payment and closing costs when you buy a home together.  And if you will be living together for the first time, it would be smart to discuss how you will split the monthly bills including your mortgage, utilities, and home maintenance. What if there is need for a costly, emergency repair? You may want to consider opening a joint bank account that exists only to cover home expenses.  It is also a good idea to meet with a real estate attorney so you can get everything in writing and have a legally binding contract just in case things do not work out down the road. Unmarried Couples and Property: Basics

EDUCATE YOURSELF ABOUT OWNERSHIP OPTIONS

You are buying a home together and splitting the expenses, but whose name is going to be on the title?  This is something that requires serious thought because it can have a significant impact on your future. There are three options to choose from:

  • Joint Tendency - Property is owned equally and if something happens to one owner, the second owner automatically inherits the other’s stake and becomes sole owner of the property.
  • Tendency in Common - Each partner owns a pre-determined percentage of the property. Should something happen to one or the other, the ownership interest would go to whomever is specified in a living will, will, or trust. If none of those are in place, the interest in the property would go to the next of kin and not to the significant other. Living Will vs Living Trust
  • Sole Owner - For some couples it might make more sense for one person to have full ownership of the home even though you are splitting expenses. For example, if one person has poor credit and will not qualify for a mortgage loan, then the person getting the loan would be the sole owner of the home.

Determining ownership should not be taken lightly.  It is probably the most important decision you will make when buying a home with someone you are not married to.  Keep in mind that if you are splitting the costs of the home, but you are not on the title, you probably won’t be able to enjoy the tax perks of being a home owner.

LOOK FORWARD

Whether you are married or not, everyone should think about where you see yourself in 3 to 5 years.  There is a lot to consider.  Do you have job stability?  Is it possible you will need to move soon?  Do you want to start a family?  These are just a few questions to ask yourself before taking on the commitment of home ownership.  It is crucial that you have a heart-to-heart talk with your partner about your future before you start your home search!

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs!  Call them today at 334-834-1500!

Photo Credit: thebalance.com

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School-Day Lunch Preparation 101

Wednesday, August 19, 2020
by The Hat Team


It’s that time of year again. Back to school. Whether your children are headed back to their school, or you have set up a classroom at home, it is important to maintain a routine. And that includes preparing healthy, nutritious lunches. Curb chaotic mornings by organizing your kitchen in a way that makes lunch prep a breeze!  The following tips will help:

  1.  MAKE A LIST

Do not just wing it.By creating a menu of items that you will use for your kids’ lunches, you will not only save time in the mornings (because you will not spend time trying to decide what to pack in their lunch bag), you will also have a handy, dandy shopping list for when you go grocery shopping.Here are some school lunch ideas to get you started. School Lunch Ideas

  1. MAKE YOUR FRIDGE LUNCH BOX FRIENDLY

Organize the space in your refrigerator to make lunch prep quick and easy.Clear plastic bins with labels can be used to divide things up by type of food/drink or by day of the week.Experiment with these ideas and find the one that works best for you. Organizing Your Fridge

  1. CREATE A STAGING CENTER

Have a designated spot in the kitchen for lunch prep.A basket or bin for lunch bags/boxes will mean that you will never be frantically searching for them in the morning.Have your kids empty them of containers/trash when they get home from school and place them in the designated area. Keep containers handy and make sure you have enough counter space to accommodate everything you will need.

  1. HAVE A SUPPLY STATION

Clean out a drawer or cabinet near your staging center and keep all your lunch prep supplies in one spot.Stock up on baggies, containers, napkins, straws, plastic utensils, foil, saran wrap etc.

  1. STOCK PANTRY WITH “SCHOOL LUNCH ONLY” ITEMS

Avoid the frustration of going to grab something for your child’s lunch only to discover there is none left.Create an area in your pantry that is only for school lunches.An over-the-door hanging shoe rack is a great space-saver and can be used to store school snacks.

Whether you prepare your children’s lunches, or you have them do it themselves, being organized will make the process easier and quicker.

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs!  Call them today at 334-834-1500!

Photo Credit: pinterest.com

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440 Martha Street: Open Floor Plan Cottage

Monday, August 17, 2020
by The Hat Team

440 Martha Street, Montgomery, Alabama 36104

MLS# 476997

3 Bedrooms | 2 Bathrooms | 1,891 sqft | Cottage Hill

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Hurry, new listing in Cottage Hill! This circa 1900 shot gun style cottage has a open floor plan with a modern feel. From the large covered front porch, you can see straight through to the back deck, making entertaining a breeze. Formal living room, huge dining room, updated kitchen with large granite island, and family room/den with new french doors looking out to the deck and lovely back yard. Master suite has been updated with a new tile shower, a walk in closet and a laundry room! Two other nice sized bedrooms and a large utility room/pantry off the hall. The original heart pine floors are gorgeous! Make your appointment today! 

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1157 S Perry Street: Updated Garden District Cottage

Sunday, August 16, 2020
by The Hat Team

1157 S Perry Street, Montgomery, AL 36104

MLS# 477130

3 Bedrooms | 2 Bathrooms | 1,528 sqft | Garden District

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This wonderfully elegant Garden District cottage is updated and ready for a new owner. And, the best part is probably the neighbor...the Governor of the State of Alabama lives across the street! Enjoy lovely high ceilings and great architectural features while entertaining in the large formal dining room or having cocktails in the cozy sun room. Fenced back yard provides plenty of off-street parking and a lovely private garden patio under mature oak trees. Located minutes from downtown and Cloverdale's entertainment districts.  

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668 Ponce de Leon: Completely Renovated Cloverdale Craftsman

Saturday, August 15, 2020
by The Hat Team

668 Ponce De Leon Avenue, Montgomery, Alabama 36106

MLS# 476560 

3 Bedrooms | 2 Bathrooms | 2,617 sqft | Cloverdale

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Picture perfect Craftsman style beauty in desirable Cloverdale/Idlewild. Complete renovation in 2017, this lovely home has a large living room with double glass doors opening into the huge dining room, a gorgeous new kitchen with quartz counter tops, new cabinets, timeless back splash and large island. The kitchen opens into the family room/den overlooking the covered patio and the staircase leads to a private master suite with a fabulous marble bathroom and custom walk-in closet. Down the hall are two nice sized bedrooms and a beautiful hall bath. From the inviting front porch to the comfy covered back patio, and everything in between, you will find the perfect spots to entertain family and friends. Come see for yourself today!

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Picking the Right Neighborhood When Buying a Home

Wednesday, August 12, 2020
by The Hat Team


When you are searching for a new home, location is one of the most important factors to consider.  You might love a house, but if it’s not in the right neighborhood, it may not be the right house regardless of how much it appeals to you.  So, before you start scrolling through home listings online, it is smart to have an idea of WHERE you want to live.  Here are some things to consider when searching for the right neighborhood:

  • You may have heard this saying before: “It’s better to have the worst house in the best neighborhood than the best house in the worst neighborhood”. While nobody really wants to live in the “worst” house anywhere, there is some good logic behind this statement.  If you ever plan to sell your home, its value will be impacted by the surrounding homes in the neighborhood.  For that reason, you will have better resale value if you are surrounded by homes that are similar to yours.  So, it is a good idea to research home values in the neighborhoods that appeal to you.How to Buy the Worst House on the Best Block
     
  • How important is convenience to you?  Some people prefer living in more rural areas, but others desire close proximity to things like major interstates, shopping areas, medical facilities, and schools.  Before you start your home search it is important to decide how much convenience matters to you.  In addition, you may want to think about the fact that having a home that is convenient to highways and such can have a positive impact on your resale value.
     
  • Are home values rising or falling in the neighborhood? If a neighborhood has home values that are climbing, that is a positive indication that it is a good place to buy.  However, if a neighborhood has stagnant or falling home values, it might not be the best place to look for a home.  Many things can have an impact on home values; for example, if an area is growing with new businesses, the career opportunities involved can lead to rising home values in the area. US Home Values
     
  • Does the neighborhood have an HOA? (Home Owners Association)?  Some people love an HOA. They appreciate how it protects home values by establishing rules for maintaining the appearance of the homes and neighborhood. They also enjoy perks such as a neighborhood pool and clubhouse, parks, and walking trails.  However, for other people, an HOA is a deal breaker. They do not care for the rules and regulations (and payments) that come with it.  HOA regulations and costs vary from neighborhood to neighborhood, so it is important to research them before you decide to live in a community with an HOA.
     
  • How are the schools rated?  Whether you have children or not, the school system is an important factor when choosing where to live. If you plan to send your children to public school, you will definitely want to live where schools are highly rated.  You may think that if you do not have kids in school, that it doesn’t matter how the school system is rated. But that thinking is a mistake. The truth is that the rating of a school system can have a huge impact on your resale value; positive or negative.
     
  • How safe is the neighborhood?  Safety is important to everyone. Nobody wants to live in a neighborhood that is not safe.  You can research crime statistics for neighborhoods online.  If you are relocating to a new state and you are not familiar with the area, an experienced local Realtor is a great resource to help you determine what areas are safe for you and your family.

There are so many factors involved in the home buying process, but determining the right location is a decision that requires thought and research.  Once you have found the right place, then you can start searching for the right house!

If you are in the market to buy or sell a home, let Sandra Nickel and her Hat Team of Professionals assist you with all your real estate needs!  Call them today at 334-834-1500!

Photo Credit: moving.com

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The Downside of Open-Concept Homes

Wednesday, August 5, 2020
by The Hat Team


While open-concept homes have been quite popular over the past decade, some experts are predicting that their popularity will begin to decline in the coming months and years.  With all that is going on in our world, people are looking for homes that offer multiple rooms with clearly defined spaces for privacy and to accommodate multigenerational families.  There are certainly upsides to open-concept floorplans, but these cons might move you to start looking for a more traditional closed-concept home:

  • Lack of privacy.  If your household includes people of various ages on a multitude of different schedules, an open floor plan can make things challenging.  For example, if your teenager wants to have friends over for a study group at the kitchen table, but you want to watch a movie.  Or perhaps you want to read quietly on the couch, but your daughter’s having a sleepover and they want to have pizza and bake cookies.  A separate, enclosed kitchen may be better for some families. 2020 Kitchen Trends: Movement Away From Open Concept
     
  • Limited wall space. Placing furniture in an open space is tricky sometimes, especially if you have a lot of windows.  And if you are an art lover, you are going to want blank walls for displaying your treasures.
     
  • Overwhelming mess.  Smaller, enclosed rooms are easier to keep neat and tidy.  With open floor plans, stuff tends to spread out.  And you may not want kids’ toys in your main living space, so a smaller, enclosed room might be your preference for a play area.
     
  • Too noisy.  With an open plan, there are more acoustics, therefore noise travels further. A quiet conversation in the kitchen may not be possible with the television on across the way.
     
  • The coziness factor.  It can be challenging to design a cozy environment in a wide open space.  Smaller rooms make it easier to create a sense of warmth and comfort. Designers Share 40 Ways to Make Your Living Room Cozy
     
  • Energy efficiency.  Keeping your home warm in the winter and cool in the summer is more difficult with fewer interior walls.

If you are in the market to buy or sell a home, let Sandra Nickel and her hat team of Professionals assist you with all your real estate needs!  Call them today at 334-834-1500!

Photo Credit: southernhospitalityblog.com

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