What’s your family’s credit card game plan in 2021?

What’s your family’s credit card game plan in 2021?


Advertiser Disclosure


Many of the credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. Please view our advertising policy page for more information.

Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Source: thepointsguy.com

Jeffree Star Takes Fans on Tour of Hidden Hills Mansion

Jeffree Star’s dream home is now almost done, with renovation work close to completion, but the make-up wiz/YouTube star couldn’t wait to share it with the fans. And, seeing that we’re all stuck inside, what better way to kill some time and connect with fans than by inviting them into your home?

“Today I’m showing what’s changed and new in the Jeffree Star Pomeranian Palace!”, Jeffree Star’s latest YouTube post reads.“I haven’t left the house in over a week and I thought it was a good time to also sit down and give you all a life update, ALL things personal.” And personal it was, as Jeffree Star walks us through the entire mansion (even the rooms that aren’t yet finished) in an extensive video posted on his channel.

[embedded content]

Jeffree Star’s house tour

Late last year, Jefree paid $14.6 million for a bonafide mega-compound in Hidden Hills, the guard-gated community that lies immediately adjacent to their home of Calabasas, Dirt reports.

In fact, Jeffree Star’s house is one of the largest and most opulent in the area — which says quite a lot, as celebrities like Kris Jenner, The Weeknd, or Will Smith all call Hidden Hills home.

Jeffree Star's mansion in Hidden Hills
Jeffree Star’s mansion in Hidden Hills. Image credit: Redfin

With over 25,000 square feet, the massive residence sits on 2.3 acres, and was previously owned by Stacey Feinberg, daughter of late sports agent Bob Woolf and her husband, Jeff Feinberg, a wealthy financier and hedge fund manager. After the two separated, they both left the home and listed it for sale; but before Jeffree came in to snap the property off the market, the massive estate sat vacant for years.

Designed in the French Normandy architectural style, the Hidden Hills mansion was built in 2007. It’s not the only structure on the estate though, with two attached guest houses and a 5,400-square-foot barn are also included.

jeffree star house tour
Jeffree Star standing in front of his new house in a video released earlier this year.

All in all, Jeffree Star’s house comes with eight bedrooms, 13 bathrooms, a kitchen with more than $100,000 worth of custom cabinets, a two-story gym, a sauna, a movie theater, and a huge outdoor kitchen. Oh, and a spa that’s seen an iconic transformation — also covered extensively in one of Jeffree’s videos:

[embedded content]

Star calls the house Pomeranian Palace

Soon after purchasing the home, the YouTube star took his fans on a tour, proudly sharing every inch of his new manse; he did however mentioned plans to renovate the property to better suit his style.

And while fans were quick to think Jeffree Star’s new house will replicate the pink wonderland of his previous crib, the YouTuber shared that he has different plans for the 25,000-square-foot home. “We’re not going to do a Barbie house, and I think a lot of people may be shocked by that,” Star said. “But I just want to — I don’t know. I’m just feeling a whole different vibe of, like, opulence and, like, black velvet and gold and white and, like, woodsy.”

Skip to four months later, and you’ll see exactly that: a spacious, opulent home, adorned with gold (shout-out to the luxurious gold Versace wallpaper) and velvet drapes — though admittedly, he opted for a rich brown velvet instead of black.

the gold versace wallpaper

Jeffree has even found the perfect name for his new crib: Pomeranian Palace, as a tribute to his beloved four-legged friends. And it only makes sense, as the home’s most striking feature was designed with the doggies in mind: Jeffree’s sprawling bed is bigger than the size of a regular room — and that’s because the YouTube star needed a bed large enough to fit all his dogs. Awww.

With the home renovation now almost complete, all that’s left for Jeffree Star to feel right at home is to get along with the neighbors. Because let’s not forget, Hidden Hills is also home to Star’s arch-nemesis, billionaire beauty guru Kylie Jenner, so that’s bound to get interesting.

More celebrity homes

Dakota Johnson Gives AD a Tour of Her Hollywood Home, which She Calls ‘Her Anchor’
Queen Frontman Adam Lambert Re-Lists Hollywood Hills Home for $3.35 Million
Everything We Know about Trevor Noah’s Apartment — the New Set of the Daily Show
Mindy Kaling is Moving Into Frank Sinatra’s Beach House in Malibu, Known as Ol’ Blue Eyes’ “Happiest Place on Earth”

Source: fancypantshomes.com

The New Must-haves of Homebuying: What Buyers are Looking for

At the start of COVID-19, homebuyers felt uncertain about applying for a mortgage during a time filled with so much uncertainty. Now, as the pandemic and restrictions become more “normal,” we’re seeing demand grow and housing inventories shrink. But, what new homebuyers this year are likely to find are larger houses with smaller kitchens, master baths and garages. They’ll also find fewer models with open floor plans, too, as builders rework their square footage to accommodate home offices, gyms and other specialty rooms. And, buyers will likely have to venture further out from major metros to find what they’re looking for.

Read: The Future of Homebuying: Questions to Ask in a Post-pandemic World

Larger Homes for Post-pandemic Buyers

For the last four years, the size of new, single-family houses has been trending downward as builders added entry-level houses to their mix in an effort to boost supply. But, the National Association of Home Builders says its members might reverse course as buyers seek more space as a result of the pandemic, perhaps to accommodate extended families or those aforementioned extra rooms.

Spring has arrived in a residential neighborhood of ChicagoSpring has arrived in a residential neighborhood of Chicago

Actually, there already are signs of the shift. In this year’s first quarter, the Census Bureau found that the median of single-family floor area ticked up to 2,291 square feet; up from 2,252 in last year’s fourth quarter. But, while a June survey by John Burns Real Estate Consulting found that some recent buyers moved because they disliked the layout of their previous homes, many wanted more space.

Even before the pandemic struck, size was important to many buyers, according to a poll of nearly 1,800 people in late February and early March by Michigan-based builder Lombardo Homes. Price was paramount, of course, but size was more important than the house’s layout, schools or even property taxes.

Moving to the Suburbs is on the Radar

Buyers are likely to find houses with more space in the suburbs, exurbs and distant outposts. Already, the NAHB is seeing construction expand at a more rapid rate in smaller cities and rural areas. Before the pandemic hit full throttle in March, the builder group found activity increasing at a higher rate in inner and outer suburbs than in high-density places. And while the pace of construction was increasing everywhere prior to the lockdown, the outlying suburbs registered the strong growth.

The Rise of the Home Office

What is the extra space likely to look like? With the movement to work from home, count on more square footage for a home office, whether it be a room dedicated as such or a converted extra bedroom. “For years, people were scared of working from home,” said one Urban Land Institute member during a recent digital happy hour. “Now they are seeing it can and does work.”

Comfortable workplace with computer near wooden wall in stylish room interior. Home office designComfortable workplace with computer near wooden wall in stylish room interior. Home office design

Read: Working from Home? Create a Home Office from Any Small Space

The same goes for employers, who have since discovered their workers can be just as productive working from home, if not more so. More and more companies are joining the likes of Twitter, American Express and Morgan Stanley, all of which have told their employees they can work from home, either through the end of the year or forever. “Some companies,” offers Tim Sullivan of Meyers Research, “may never go back to office space.” Families also need space for children or college students who are learning for home. Only 17% of parents feel prepared for the upcoming school year, so a home office is important for those families to best feel ready for fall semesters.

Studies by the NAHB have shown that many buyers have always wanted an home office. In a 2018 survey, for example, 65% said it was a key feature on their shopping lists, and the builder group says that percentage is likely to grow.

The Forgotten About Home Gym

Another strong possibility: An in-house gym, or certainly at least a dead-end hallway that has been dubbed the “Peloton® room” where an exercise bike can be parked. Of course, there’s “only a finite amount of space” with which builders can work before the cost of their products becomes prohibitive, Dan DiClerico of HomeAdvisor points out. Consequently, he and others believe there will be a major “redistribution of space” in newer models.

The End of the Open Floor Plan?

Younger buyers, in particular, “displayed a clear preference for flexible spaces in their next home” in the latest national survey by Atlanta-based home builder Ashton Woods.

“Instead of rooms dedicated to just one purpose, home buyers now want a living, breathing floor plan that can flex as their lives change,” says Jay Kallos, the firm’s senior vice president for architecture. “They want it to adapt easily for when they’re newlyweds, starting a family, becoming empty nesters and even inviting family back into the home later in life with aging parents or boomerang kids.”

Spacious kitchens going forward could be less so. “Fewer people are going to want the great big open rooms that include the kitchen, with more now wanting the kitchen to return to having some separation to hide the smells, mess and noise,” suggests Bill Ramsey of the Denver architectural firm, KTGY.

Big master bathrooms also could become smaller, too. And builders may be taking space from large garages. Even though most people don’t park their vehicles in their garages, two-car pads are the norm nowadays. Nearly two out of three new houses sold in 2019 had two-car garages, and 19% had three bays or more.

While things continue to change in the world of homebuying and building, one thing remains the same. Homes.com is your go-to resource for everything buying, selling, renting, or financing. From our popular search tools that let you find a home you love in an instant to an optimized mobile app to take homebuying on the go, there’s not much you can’t find. For more resources, visit Homes.com’s Blog or our How-to Section if you’re looking for tips, advice, and guidance on all things home-related.


Lew Sichelman

Syndicated newspaper columnist, Lew Sichelman has been covering the housing market and all it entails for more than 50 years. He is an award-winning journalist who worked at two major Washington, D.C. newspapers and is a past president of the National Association of Real Estate Editors.

Source: homes.com

How to Make an Offer Stand Out in a Seller’s Market

With a rapidly changing market and low inventory, homes are selling faster than ever. New listings can have several offers before you have even had the chance to see it. With this being the case, not only do you have to spring into rapid action, you have to come prepared with an offer that will stand out above the other buyers out there. 

Read: How is COVID-19 Impacting Homebuyer Preferences?

While it can be difficult to be the first of multiple offers coming in, you can make your offer the one that will get you the home that you have fallen in love with. The tips could be exactly what you need to get into your next home. 

Get The Inside Scoop

Say you have decided to purchase a home that you have fallen in love with and you’re prepared to put in an offer on that home. Before you meet with your real estate agent to write the offer, you should ask your agent to get the inside scoop of what the seller may want by asking the listing agent. 

When your agent contacts the listing agent, make sure that they ask questions about the home’s availability and if there are multiple offers for that home. If there are other offers, you will have to evaluate just what you are willing to do to get the home. Keep in mind that the listing agent may not be able to disclose anything to your agent at the request of the seller. 

You should also ask your agent to inquire about the seller’s preferences and what they may want. Some sellers prefer you use a specific title company or have a specific possession date that would align with a date that is convenient for them. The more your offer aligns with the seller’s goal, the better a chance of getting your dream home. 

Read: Is the Home You Love Worth it? Home Pre-inspection Tips to Put to Use

Make a Simple Offer

While making an offer on a home can be complex, you should aim to make your offer as simple as possible. The fewer contingencies that you have put in place, the better. 

Some contingencies you might put in place range from a financing contingency to a home inspection contingency. 

Realtor showing terms of contract on tablet to couple. Real estate agent sharing property details with clients.Realtor showing terms of contract on tablet to couple. Real estate agent sharing property details with clients.

Also, when you put in an offer, keep in mind that it’s not all about price. You may be prepared to go well over asking, but remember that the best offer will be the sum of the terms that work best for the home’s seller. While you want to get this home, you do not want to overextend yourself financially. 

Things Will Move Quickly

As you embark on your home search, you will want to see as many homes as possible. If you work with an agent that has a busy schedule, ask to utilize one of their team members to see the homes on your list.Remember, you will want to move quickly especially when the market is hot and your agent will do the best they can to work with you to get you the house you want. 

One Last Tip

Writing an offer can be cumbersome and can take more time than you may be willing to wait. The key tip: be patient. Let your agent provide the seller and the listing agent with your offer and wait a few days to find out if they accept or not. This is completely normal so do your best to be patient in hopes that you are able to get your next home. 

One thing that you may be able to do to get your offer accepted is to suggest to your real estate agent that they outline the terms and contingencies of your offer in a pager on the front pack of the offer package. This will give the seller and listing agent the opportunity to see what the offer entails from the beginning. 

During a hot market where homes are selling as fast, you have to be diligent in writing your offer so that they will stand out from the rest. For more tips and tricks on the homeowner journey, read through our free How To guides on buying, selling, and financing your home.


Dru Peters

As a Sr. Marketing Coordinator for Homes.com, Dru provides information and resources for agents and Realtors spanning from market reports to technology advances in the industry. With the knowledge gained from working closely with real estate professionals, Dru also shares advice for consumers on how to best navigate the homebuying and selling waters.

Source: homes.com

To Buy or Sell First? That is the Question

Facebook-Blog_BuyorSell_150422

It may be the ultimate catch 22 – do you buy a new home first then sell your current property or sell first then search for a new one? Each approach has its pros and cons so what’s best for you?

Traditionally, homeowners prefer to sell first but in hot markets where bidding wars and multiple offers are more common, some are willing to buy their dream home first, anticipating their current one will sell quickly.

Here’s a rundown of your options:

Pros to selling first

  • You know exactly what your budget for a new property is and can hone in on homes priced right in your neighbourhood.
  • You’re able to make a firm offer on a new home with a closing date that works for you.

Cons to selling first

  • The clock begins ticking and you need to find and close on a new home before the closing date for your sold home – forcing you to potentially compromise on the kind of home you buy or the neighbourhood you and your family want to live in.
  • If you don’t find a new home in time, you’re faced with the unlikely scenario of negotiating to extend the closing date on your sold property, or finding a short-term rental to live in while you continue your search.

Pros to buying first

  • You only buy the house you love if and when you find it – you’re under no pressure to settle because time is running out on a sold property’s closing.

Cons to buying first

  • You may have to finance two homes if selling your current one takes longer than expected.
  • You could have to sell your current home for less to avoid losing a sale – that might require a larger down payment or an increase on your new property’s mortgage.

5 few more tips to help you decide

  1. If you can carry two properties temporarily with little or no bridge financing, buy the home you love first.
  2. Closing dates can be a sticking point for buyers and sellers, but if finding a new home or selling your old one is a concern, try negotiating a long closing date – like three months or more.
  3. Do your homework and connect with a real estate agent you trust well in advance of making any move so you fully understand the buying and selling realities in your area.
  4. Before you’re pressured to do so, ask yourself what you’re willing to compromise on and what’s non-negotiable.
  5. Get your home properly appraised free by an experienced agent with superior knowledge of your area.

(Sources)

http://business.financialpost.com/2013/02/02/should-you-sell-your-house-before-you-buy-a-new-one/

http://frontstreetrealty.net/buyorsellfirst.html

http://josiestern.com/faq/buying-or-selling-first/

Source: zoocasa.com

Sir Anthony Hopkins Just Sold His Malibu Home Perched on a Cliff’s Edge for $10.5 Million

Lead image: Nareg Frandjian /Open House Foto & Elena Torre via Wiki Commons

Sir Anthony Hopkins has found a buyer for his charming (and fire-resistant) Cape Cod residence in Point Dume, Malibu, roughly six months after putting the estate up for sale.

The 82-year-old actor decided to part ways with his five-bedroom home at the beginning of the year, listing the property for $11.5 million back in February. Santiago Arana of The Agency was the listing agent for the property and he told the Wall Street Journal that Hopkins’ decision to sell was prompted by a desire to be closer to Los Angeles.

While Anthony Hopkins’ home was in the path of the devastating Wolsey Fire which destroyed much of the area in 2018, the mansion survived the blaze, largely unscathed. The same can’t be said about the home next door, which was completely destroyed by the fire.

Set on a cliff’s edge and overlooking the ocean, Anthony Hopkins’ house sits on about an acre of land between Zuma Beach and Point Dume, opening up to breathtaking beach views.

anthony hopkins house in malibu
Anthony Hopkins house in Malibu. Image credit: Nareg Frandjian /Open House Foto

Built in the 1950s, the house is reminiscent of an English manor, with dormer windows jutting out of the distinguished brick red roof. Spanning roughly 4,000 square feet, the mansion comes with five bedrooms and five bathrooms, two fireplaces and a large living room. 

There’s also an art room in a cabana by the pool — which comes with the added appeal of knowing that Anthony Hopkins has been using it extensively throughout the past years, with works of art created here ending up on the walls of his oh-so famous friends (Hopkins has reportedly been gifting paintings to all his celebrity friends).

Another particularity of the home is that the master bedroom comes with a sauna fitted with a wall glass — to maximize beach views even when relaxing inside. Though admittedly, who would want to spend any time inside with the ocean spread right outside your front door?

anthony hopkins house in malibu
Anthony Hopkins house in Malibu. Image credit: Nareg Frandjian /Open House Foto
anthony hopkins house in malibu
Anthony Hopkins house in Malibu. Image credit: Nareg Frandjian /Open House Foto

With the home selling for $10,500,000, Hopkins has made quite a profit, even if the sale price was one million dollars short of the asking price. And that’s because the actor reportedly paid only $3.8 million for the Malibu property back in 2001.

But it was never about the money for him. In an older 2011 interview with People magazine, Hopkins shared his love for Malibu, and how excited he was to be living here: “I come from a country where everything is gray,” the Welsh-born actor said at the time. “I came out here in 1973 and loved the color. I thought I was in paradise. Still do.”

Anthony Hopkins, a regular presence on our screens for the past half a century, has starred in iconic movies like The Remains of the Day, Meet Joe Black, Legends of the Fall, and The Elephant Man. And despite great critical acclaim for his most recent work in The Two Popes, he will always be remembered as Hannibal Lecter, with his 1991 performance in Silence of the Lambs landing him countless awards, including the coveted “Best Actor” nod at the Oscars.

Beyond his Hollywood nods, Anthony Hopkins was honored as Commander of the Order of the British Empire (CBE) in 1987, only to later be knighted by the Queen a few years later, in 1993.

More celebrity homes

Queen Frontman Adam Lambert Sells Hollywood Hills Home for $2.92 Million
The Playboy Mansion: the Full Story of Hugh Hefner’s Party PalaceWhere Does Lady Gaga Live? Check Out Her ‘Gypsy Palace’ in MalibuThe Beverly House, where Jackie O & JFK Honeymooned and where Coppola Shot “The Godfather”

Source: fancypantshomes.com

Acronyms of Real Estate: What Homebuyers Need to Know

Real estate is a regular smorgasbord of acronyms – everything from APR to REO. Here’s a list of the ones you’re likely to run into and what they mean when you’re buying or selling a house:

Acronyms You’ll Hear Associated with Real Estate Professionals

Real estate agents, builders and most other realty-related professions have numerous professional designations, all designed to set them apart from those who haven’t taken advanced courses in their fields. These designations don’t mean that professionals without letters after their names are not as experienced or skilled, but rather only that they haven’t taken the time to further their educations.

Read: How to Build Your Real Estate Team

Let’s start with the letter “R,” which stands for Realtor. A Realtor is a member of the National Association of Realtors, the nation’s largest trade group. NAR says it speaks for homeowners, and it usually does. But in that rare occasion when the interests of its members and owners don’t align, it sides with those who pay their dues.

Read: A Timeline of the History of Real Estate

NAR embraces a strict code of ethics. There are about 2 million active and licensed real estate agents nationwide, and 1.34 million can call themselves Realtors.

NAR members sometimes have the letters GRI or CRS after their names. The Graduate, REALTOR® Institute (GRI) designation signifies the successful completion of 90 hours of classroom instruction beyond the continuing education courses required by many states for agents to maintain their licenses. After the GRI, an agent may become a Certified Residential Specialist (CRS) by advancing his or her education even further.

black family touring a house to buy racial homeownership gap discriminationblack family touring a house to buy racial homeownership gap discrimination

Builders can obtain the GBI – Graduate Builder Institute – designation by completing nine one-day classes sponsored by the educational arm of the National Association of Home Builders. Those who pass more advanced courses become Graduate Master Builders, or GMBs. Remodeling specialists with at least five years of experience can be Certified Graduate Remodelers, or CGRs. And, salespeople can be CSPs, or Certified New Home Sales Professionals.

In the mortgage profession, the Mortgage Bankers Association awards the Certified Mortgage Banker (CMB) and Accredited Residential Originator (ARO) designations, but only after completing a training program that may take up to five years to finish. To start the process, CMB and ARO candidates must have at least three years’ experience and be recommended by a senior officer in their companies.

Acronyms Associated with Mortgage Lending

When obtaining a mortgage, you will be quoted an interest rate; however, perhaps the more important rate is the annual percentage rate, or APR, which is the total cost of the loan per year over the loan’s term. It measures the interest rate plus other fees and charges.

An FRM is a fixed-rate mortgage, the terms of which never change. Conversely, an Adjustable Rate Mortgage (ARM) allows rates to increase or decrease at certain intervals over the life of the loan, depending on rates at the time of the adjustment.

Female client consulting with a agent in the officeFemale client consulting with a agent in the office

A conventional loan is one with an amount at or less than the conforming loan limit set by federal regulators on Fannie Mae and Freddie Mac, the two major suppliers of funds for home loans. These two quasi-government outfits replenish the coffers of main street lenders by buying their loans and packing them into securities for sale to investors worldwide.

Other key agencies you should be familiar with are the FHA and the VA. The Federal Housing Administration (FHA) insures mortgages up to an amount which changes annually, as does the conforming loan ceiling. The Veterans Administration (VA) guarantees loans made to veterans and active duty servicemen and women.

LTV stands for loan-to-value. This important ratio measures what your are borrowing against the value of the home. Some lenders want as much as 20% down, meaning the LTV would be 80%. But in many cases, the LTV can be as great as 97%.

Private mortgage insurance (PMI), is a fee you’ll have to pay if you make less than a 20% down payment. PMI covers the lender should you default, but you have to pay the freight. Fortunately, you can cancel coverage once your LTV dips below 80%.

Your monthly payment likely will include more than just principal and interest. Many lenders also want borrowers to include one-twelfth of their property tax and insurance bills every month, as well. That way, lenders will have enough money on hand to pay these annual bills when they come due. Thus, the acronym PITI (principle, interest, taxes, and insurance).

Real-estate owned (REO) properties are foreclosed upon by lenders when borrowers fail to make their payments. When you buy a foreclosure, you buy REO. Short sales are not REO because, while they are in danger of being repossessed, they are still owned by the borrower.

houses real estate market selling buyinghouses real estate market selling buying

Acronyms You’ll Hear During an Appraisal

There is no acronym for an appraisal, which is an opinion of value prepared by a certified or licensed appraiser (though sometimes other types of valuation methods are used in the buying and selling process).

A Certified Market Analysis (CMA) is prepared by a real estate agent or broker to help determine a home’s listing price. A Broker Price Opinion (BPO) is a more advanced estimate of the probable future selling price of a property, and an automated valuation model (AVM) is a software program that provides valuations based on mathematical modeling.

AVMs are currently used by some lenders and investors to confirm an appraiser’s valuation, but they are becoming increasingly popular as replacements of appraisals, especially in lower price ranges.

Other Terms to Know

If you hear the term MLS, you should know it stands for multiple listing service. An MLS is a database that allows real estate brokers to share data on properties for sale, making the buying and selling process more efficient. There are many benefits to both homebuyers and sellers utilizing an MLS, for more information on how to get your home available through an MLS, work with a real estate professional when selling.

Read: What Buyers and Sellers Need to Know About Multiple Listing Services

Did you know? Homes.com has some serious MLS partnerships, no joke! When you start your home search on Homes.com, you’ll see accurate property information quickly so you’ll never have to wonder if a home is actually available.

House tourHouse tour

However, not all properties for sale are listed on the MLS. A home may be a for-sale-by-owner (FSBO), if the owner is selling his or her property without an agent and bypassing an MLS listing. In addition, some agents fail to enter their listings in the MLS for days or weeks at a time in hopes of selling to a list of preferred clients.

Read: Advantages of Buying With or Without an Agent

Finally, you may find yourself buying into a homeowners association (HOA) when you purchase a house or condominium apartment. HOAs are legal governing bodies that establish requirements everyone must adhere to in order to keep the community it oversees running smoothly and ensure property values are maintained.


Lew Sichelman

Syndicated newspaper columnist, Lew Sichelman has been covering the housing market and all it entails for more than 50 years. He is an award-winning journalist who worked at two major Washington, D.C. newspapers and is a past president of the National Association of Real Estate Editors.

Source: homes.com

New Home Construction vs Resale: Should You Buy an Older or Newer Home?

Facebook-Blog_NewConstruction_150422 

To buy or not to buy, that is not ever the only question. The inevitable decision every house hunter has to make is whether or not to go with the old or buy new. Alongside pricing and location, the age of a home is an important factor to consider when looking at property. With new home construction, there may be less renovations upon move in that will need to be done. If you are up for the challenge, an antique home may satisfy that unique-build-itch you are looking to scratch. As some prefer history and character, others are drawn to the comfort of modern conveniences. It is important to weigh the pros and cons of both options before deciding what is right for you.

Buying an Older Home

PROS

  • Unique character: Think stained glass, molding, fireplace and woodwork. Older houses often have one-of-a-kind elements and details that are tough to come across in modern makes.
  • Vegetation: Older homes tend to have well developed yards and gardens. The vegetation is mature so you don’t need to wait years before having those lush trees you’ve pined for.
  • Availability: There is no waiting for builders to finish. Schedule delays due to construction will not keep you from moving into your new home on time.
  • History: Not only does the property have its own history, you will have an index of how much it has appreciated over the years. A track record gives you a place to start in measuring the community’s marketplace appeal.

CONS

  • More maintenance: Owning an old home is not for everyone. Due to its age, an older home may require constant TLC, so aim to understand what type of upkeep commitment you are making before buying.
  • Remodeling and Updates:  Whether it’s a matter of updating your home for comfort, like installing an AC, or making repairs so your new space is up to city standards, work may need to be done if you want your home to be efficient and safe.
  • Expensive repairs: You should ask when major components were last replaced so you can factor the cost into your final decision. As systems age, they naturally require replacing which may be something you wish to reflect in your new home’s purchase price.

Buying a New or Almost New Home

PROS

  • Customizable: If you buy early into your new home’s building phase, you may get a say in what you would like based on your personal taste and needs.
  • Low maintenance and builder’s warranty: New constructions are built to last years before home owners have to replace major components. So relax and enjoy!
  • Built to code: Code regulations change often to make sure houses are built as safe as possible. You have the comfort of knowing that your house systems are up-to-date.
  • Energy efficient: You may save on energy costs because your house is built based on recent studies and environmental recommendations.

CONS

  • Immature vegetation: The house is new and so is the yard! You will need to invest in your backyard and be patient before having mature trees.
  • House settling: New houses settle and it is not necessarily a question of location or of type of soil. There is a chance that cracks in the foundation and walls can occur as it sets.
  • Modern cookie-cutter design: New communities are often developed with a unified style.  Contractors tend to build a few models of houses where the floor plans are very much alike.

Both purchases have their benefits. Whichever you decide, be sure you know what to expect with your new home and you understand the type of commitment you are signing up for.

For more helpful tips and advice, keep reading Zoocasa.com





Source: zoocasa.com

This L.A. Traditional was Once Home to Legendary Actor Burt Lancaster

If you’re nostalgic for the Golden Age of Hollywood and want to capture part of the charm of the period, here’s a little something to take you back: legendary actor Burt Lancaster’s family home in Beachwood Canyon.

Lancaster, a four-time nominee for the Academy Award for Best Actor (with one win under his belt), starred in many iconic roles throughout his 45-year career in film and television. He’s best know for his roles in The Killers (1946) starring alongside Ava Gardner, From Here to Eternity (1953), Elmer Gentry (1960), and Field of Dreams (1989). The American Film Institute ranks Lancaster as #19 of the greatest male stars of classic Hollywood cinema.

The actor lived in a four-bedroom, four-bath home on Beachwood Drive, built back in 1941 by one of the city’s premier architects, Max Maltzman. Known best for his grand, high-style Los Angeles apartments and hotels, Maltzman had a very distinctive style which he imprinted on Lancaster’s traditional-style home.

Burt Lancaster’s former home in Los Angeles. Image credit: The Agency

Luckily, Maltzman’s design has gone largely untouched throughout the years, with no major exterior updates being made. The interiors, however, have undergone significant changes, to bring the property up to modern standards.

Burt Lancaster’s former home in Los Angeles. Image credit: The Agency
Burt Lancaster’s former home in Los Angeles. Image credit: The Agency

The home is currently on the market for $2.399 million, with Josh Myler and Jeff Kohl of The Agency holding the listing.

With a total of 2,800 square feet of living space, the Beachwood Canyon home has a large master suite with fireplace, and two additional bedrooms that open to a screened porch with lush hillside views, all located on the second floor. There’s an additional bedroom on the ground floor that can be used as a home office or gym.

Burt Lancaster’s former home in Los Angeles. Image credit: The Agency

The updated interior features a spacious open plan with great flow for entertaining, with multiple French doors opening the rooms of the house to the sunny outside — where you’ll find a private fenced backyard with mature trees, terraced gardens, and plunge pool.

Burt Lancaster’s former home in Los Angeles. Image credit: The Agency
Burt Lancaster’s former home in Los Angeles. Image credit: The Agency

More celebrity homes

Elon Musk was Serious about Selling his Possessions, Lists Two Homes on ZillowMindy Kaling is Moving Into Frank Sinatra’s Beach House in Malibu, Known as Ol’ Blue Eyes’ “Happiest Place on Earth”
Dita Von Teese’s Quirky Los Angeles Home is Every Aspiring Diva’s Dream
The Story of the Opulent $120 Million Manor that Aaron Spelling Built in Holmby Hills

Source: fancypantshomes.com