LIFESTYLE, HOME BUYERS | Vacation Home Sales Skyrocket | The pandemic caused many people to try to grab more enjoyment from life, as evidenced by the latest vacation home counties report from the National Association of REALTORS ® (NAR). In 2020, vacation home sales rose by 16.4%, outpacing the overall growth in existing-home sales of 5.6%, and in 2021, vacation home sales increased 57.2% year-over-year compared to the 20% year-over-year growth in total existing-home sales. Median existing-home sale prices in vacation counties, those areas where at least 20% of homes are purchased for seasonal, occasional or recreational use, increased 14.2% compared to 10.1% in non-vacation home counties. What's driving the trend? Many workers are able to work from home and think why not telecommute from a vacation destination? People who moved to vacation home counties increased from 78,114 in 2019 to 98,279 in 2020. Vacation homebuyers tend to be older and have more income, according to NAR's report on generational home buying. Buyers aged 40 to 54 had the highest household incomes with buyers aged 66-95 purchasing the most vacation homes. If you're planning to buy a vacation home, consider the following: - Can you carry mortgage payments, property taxes, utilities, etc. for two homes?
- Do you plan to use the home exclusively or rent it out part of the time?
- How often will you be able to use your vacation home?
- Will you take care of the property or hire a property manager?
- What are your long-range goals and exit plan for your second home?
| TRENDS, HOME IMPROVEMENT, LIFESTYLE | The Work Shed Trend | Working from home during the pandemic allowed jobs to be saved, but posed challenges in terms of productivity, and performance. Now, homeowners are building or buying work sheds to get the privacy they need to work, create, and produce. A work shed can offer physical as well as psychological distance. If you're at home, you're accessible, but less so if you're not in the house. A work shed says "Don't bother me when I'm in the shed unless it's really important." A shed can be outfitted with enough electricity, storage and furnishings for homeowners to work in comfort. They can be built or purchased in any size you want, making them ideal for telecommuting, woodworking, crafting, model-building, gaming, pen-turning, or any other "ing-ing" your heart desires. And even with the most elaborate materials and finishes, a work shed costs thousands of dollars less, are less noisy, and can be made operational more quickly than adding a room onto your home. According to ShedKing.net, you need to know if you can build a shed, where on your property you can put it and what size you can make it. Check local building codes to get a permit to build. Check deed restrictions for easements. If you're part of a homeowners' association, take your building plan to the board for approval. Take your plans to the hardware store, lumber supplier, and home improvement store where they will give you an itemized estimate for all your materials and delivery charges. | LIFESTYLE, HOME IMPROVEMENT, DÉCOR | Update Your White Kitchen | All-white kitchens complement any decor, but they're hard to keep pristine and can come across as dated. An older white kitchen shows signs of discoloration and wear. What can you do to make your white kitchen more 2021 than 2010? Make it artsy Art galleries have white walls because they're a blank canvas where artwork can be attractively displayed. Add a colorful abstract painting in a key location. Have fun with artistic-themed dishtowels, placemats, and dishes. Try a washable rug or runner with a colorful modern pattern. Fold in some color Cookware, serving pieces, utensils and small appliances in analogous colors (those next to each other on the color wheel such as yellow, green and blue) can give you a pleasing new color palette. Add texture Add interest with textures in complementary tones of white, grey or mushroom to walls, backsplashes, curtains or blinds. Natural wood accents like bowls can also warm up a white kitchen. If you have a place for barstools at the island, woven fabric, cane or hemp seats work well to add texture. Repaint White reflects light, making your kitchen brighter, but one reason why people tire of white kitchens is that there's no focal point. For a soft contrast, introduce watery colors like sea glass. For more drama and sophistication, go for high contrast with deep blue, black or grey. Paint the island a different color from the rest of the kitchen, or paint lower cabinets a different color from the top cabinets. | SUSTAINABILITY, HOME OWNERSHIP | All About Energy Star ® | Energystar.gov offers a treasure chest of goodies and information for homeowners. From tax credits and rebates to referrals to qualified contractors, you'll learn about Energy Star®-certified products you can purchase and install in your home that save energy, money and the environment. The energy star program was established by the Environmental Protection Agency (EPA) to benefit consumers by encouraging manufacturers to create the most energy-efficient and cost-effective products in about 75 categories. Since 1992, Energy Star and its partners have saved U.S. families and businesses trillions in kilowatt-hours of electricity and helped them avoid more than $450 billion in energy costs. For non-businesses, Energy Star tax credit benefits are limited to homeowners for their primary homes located in the United States and include the following: - Air Source Heat Pumps
- Central Air Conditioning (CAC)
- Gas, Propane, and Oil Hot Water Boiler
- Gas, Propane, and Oil Furnaces and Fans
- Water Heaters (non-solar)
- Advanced Main Air Circulating Fan
- Biomass Stove
- Insulation
- Roofs (Metal and Asphalt)
- Windows, Doors, and Skylights
The tax credits for residential renewable energy products include geothermal heat pumps, small wind turbines, solar energy systems and fuel cells. In addition to federal tax credits, local rebates and offers may be available in your area. Check the ENERGY STAR ® Rebate Finder, where you can enter your zip code to find rebates and other offers in your area. Also, contact your local utility or state energy office about any available incentives or programs. |
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