Ben Franklin used a technique called a “balance sheet” when he was faced with a decision.  As the lore goes, whenever Ben was faced with a decision, like you are now, he’d take a piece of paper, draw a line down the middle of it.  On the left side, he’d list all the reasons he should do something and on the right side, he’d list the reasons to avoid doing that thing.

Would-be home buyers are faced with the decision of whether to buy in today’s market with uncertainty about inflation, the presidential election, the economy, higher than recent mortgage rates, and increased home prices, just to mention a few.

Some people have been put on the sidelines because they cannot qualify for a mortgage and others have sidelined themselves, even though they have the funds and resources, because of all the “noise” in the market.  Looking at the advantages of renting versus buying may bring clarity.

Advantages of Renting:

• Financial Flexibility: Renting typically requires a lower upfront cost, making it more accessible for individuals with limited savings or those looking to manage their finances conservatively.
• Maintenance Responsibility: Renters are often not responsible for major maintenance and repair costs, as these are typically the landlord’s responsibility, allowing for a more worry-free living experience.
• Mobility: Renting provides greater flexibility to relocate quickly if job opportunities or personal circumstances change without the commitment of selling a property.
• Amenities and Services: Many rental apartments offer on-site amenities such as gyms, pools, and concierge services, providing added convenience and luxury without ownership responsibilities.
• Predictable Costs: Renters usually have fixed monthly costs for rent, making budgeting more straightforward as they don’t need to account for unexpected homeownership expenses.

Advantages of Buying:

• Equity Building: Homeownership allows you to build equity over time as you pay down your mortgage, which can serve as a valuable asset and investment for the future.
• Stability and Control: Owning a home provides stability and control over your living environment, allowing you to personalize and renovate the property to your liking.
• Tax Benefits: Homeowners may benefit from tax deductions on mortgage interest and property taxes, potentially reducing their overall tax liability.
• Long-Term Investment: Real estate has historically appreciated in value over the long term, potentially leading to significant wealth accumulation.
• Sense of Ownership: Owning a home often brings a sense of pride and accomplishment, as well as the freedom to make decisions about the property without seeking landlord approval.

The Ben Franklin balance sheet might suggest that whichever side had the greatest number of reasons, that would be the appropriate action.  If each item had the same weight of importance that might be logical.  However, some reasons might tip the scale dramatically in favor of taking a particular action.

The equity building aspect of homeownership is exactly that type of reason.  With each payment made on the mortgage, a portion of it reduces the principal balance due which builds equity in the home.  Each month, a larger amount goes to the principal.

Homes on a national basis have experienced a 5.56% annual appreciation over the last 60 years according to the Federal Reserve Economic Data and Bureau of Labor Statistics.  During that period, inflation has averaged 3.7%, making homeownership a hedge against inflation.  Even if a person continues to rent, they will be paying more because rents have increased during the same 60-year period at 3.88% annually.

The average price of a home in America in 1963 was $19,300 and in 2023, 60 years later, the average price of a home was $495,100.  Long term, a home is a powerful investment in an individual’s wealth.

Sellers who choose to offer buyer’s agent compensation can enhance their property’s appeal and attract a wider range of buyers resulting in obtaining the highest price, in the shortest time, with the fewest problems. In a competitive market, this strategic decision may be crucial for achieving a successful and timely sale.

You may or may not remember Mr. Rogers Neighborhood. If you do, you’re probably humming the theme song right now – “who are the people in your neighborhood”. It doesn’t matter if you’re a seasoned homeowner or a first-time homebuyer just starting this chapter of your life. You’re not just entering a house but you’re also embedding yourself into a neighborhood. A neighborhood as a community doesn’t only rest upon well-kept lawns or architectural beauty – it also rests on its residents just like yourself! Consider these suggestions to not only enjoy your new neighborhood but to also make it a wonderful place to live!

Begin Connections – Get involved. Begin your journey by fostering connections. Introduce yourself to your neighbors, participate in or organize social events, and involve yourself in local gatherings, HOA, NextDoor, or other forums. Check if your neighborhood has it’s own community Facebook page. Establishing a network of friendly faces creates a sense of belonging and shared responsibility towards the well-being of the neighborhood.

Create a Safe Environment – A safe community is a serene community. Be mindful of adhering to speed limits while driving through your neighborhood, watch out for children playing, and consider organizing or participating in a neighborhood watch program. Ensuring that everyone feels secure enhances the quality of life for all residents. Always remember that many neighborhoods are a mixture of young and old alike.

Keep Your Neighborhood Clean and Green – Your new neighborhood is an extension of your home. Engage in and advocate for practices like regular clean-up drives, recycling initiatives, and maintaining green spaces. Planting trees or creating communal gardens can be wonderful projects that not only beautify the area but also instigate sustainable living.

Support Local Businesses – Frequent local shops, cafes, and services to boost the neighborhood’s economy. Supporting local businesses fosters a self-sustaining community, often making it more attractive to future residents and other local entrepreneurs.

Volunteer and Offer Support – Whether it’s helping a neighbor with yard work or volunteering in local schools, your acts of kindness will ripple through the community, establishing a culture of support and assistance that enriches everyone’s lives.

Organize and Participate in Events – From block parties to garage sales, events can add vivacity to any neighborhood. They provide a platform for residents to mingle, forge friendships, and create cherished memories, threading a fabric of unity and camaraderie.

Respectful Living – Being mindful and considerate of your neighbors is foundational. Adhere to noise guidelines, maintain your property, and respect shared spaces. A culture of mutual respect enhances peaceful co-existence and cultivates a harmonious environment.

Advocate for Improvements – If you observe areas for improvement, like a need for better street lighting or safer playgrounds, take the initiative. Work with local authorities, attend town meetings, or organize petitions to facilitate beneficial changes.

In contributing towards shaping a great neighborhood, you’re not only enhancing your living experience but also elevating the quality of life for existing and future residents. Your active involvement, care, and initiatives sow the seeds for a community where everyone enjoys a sense of belonging, security, and joy in their daily lives. After all, the richest neighborhoods are those woven with the threads of unity, understanding, and collective effort. So, embrace your role and be the beacon that lights up your community with positivity and progress!

Home insurance rates have increased by almost 20% nationally between 2021 and 2023 and even more in some states like Arizona where rates have jumped 62% in some cases.

In today’s economy, the phrase “every penny counts” seems to hold its truth. The appreciation that homeowners have enjoyed, especially in the past four years, has caused premiums to increase because the values are higher.  In addition, insurance is affected by inflation due to the increased cost of labor and building materials used to calculate the replacement cost of the dwelling.

Natural disasters, especially in coastal areas, tornados, fires, and hail are just a few of the things that insurers have paid considerable claims and are driving the prices of premiums higher.  Some insurers are pulling out of high-risk areas which make it difficult for homeowners to not only find coverage but at reasonable prices.

There are several things that homeowners can do to lower the cost of their policies.

Increase Deductibles – Opt for a higher deductible to reduce premium costs, but ensure you have sufficient savings to cover the deductible in case of a claim.

Bundle Policies – Combine homeowner’s insurance with other policies such as auto insurance with the same provider to qualify for multi-policy discounts.

Improve Home Security – Install security features like smoke detectors, burglar alarms, deadbolts, and security cameras to reduce the risk of theft and damage, thus lowering premiums.

Upgrade Home Systems – Updating electrical, plumbing, and heating systems to meet current building codes can lower insurance premiums by reducing the risk of accidents or damage.

Maintain a Good Credit Score – Maintaining a good credit score demonstrates financial responsibility and can lead to lower insurance rates.

Shop Around – Compare quotes from multiple insurance providers to find the best coverage at the most competitive price.

Choose a Less Risky Location – Living in an area with lower crime rates, proximity to fire stations, and minimal environmental risks can result in lower insurance premiums.

Stay Claims-Free – Avoid filing small claims, as a history of claims can lead to higher premiums. Instead, consider paying for minor repairs out of pocket.

Reduce Coverage – Review your policy to determine if you have more coverage than necessary and adjust coverage limits accordingly to reduce premiums.

Ask About Discounts – Inquire with your insurance provider about available discounts for factors such as age of the home, non-smoking household, or membership in certain organizations.

Insurance is required on properties with mortgages on them but even when a home is paid for, most homeowners cannot afford the physical loss but also from potential exposure to liability to people who might be injured on their property.  It is estimated that the number of American homeowners without insurance in 2024 has increased to 12% from 5% in 2019.

Having an annual review with a property casualty insurance agent ensures homeowners maintain adequate coverage as property values and personal circumstances change, protecting against potential underinsurance. This proactive approach provides an opportunity to discuss lowering premiums, helps identify potential gaps in coverage, offering peace of mind and protection against unforeseen events

NEW LISTING

4 Bedrooms 4 Full Baths 1 Half Bath, 4,440 sq ft

13716 Bond Overland Park, Kansas 66221

$599,900

BEAUTIFUL INSIDE! Welcome to – a beautifully maintained home situated on a peaceful cul-de-sac. This residence boasts a brand new roof and Newer windows throughout, newer HVAC systems, 2 water heaters, one is newer. ensuring comfort and reliability. Step inside to find a spacious kitchen with Gas range and a high-ceiling hall, complemented by a charming two-sided fireplace that adds warmth and character to the living spaces. The wooden floors main floor the home add a touch of elegance, while fresh paint enhances the bright and inviting atmosphere. Each room is perfectly sized and includes its own bath, providing ultimate convenience and privacy. The luxurious master suite features a sumptuous bath, creating a serene retreat. The finished basement, completed in 2022, offers additional living space with an unconfirmed room and a full bath. Outdoors, enjoy the deck overlooking the backyard, perfect for relaxing or entertaining, and a sprinkler system with new heads that keeps the lawn lush and green. With a three-car garage and plenty of natural light flooding the interiors, this home is designed for both comfort and style. Don’t miss the opportunity to make 13716 Bond St your new address.

RENT TO OWN Option available. MOTIVATED SELLER! Beautiful family home with a large eat-in kitchen, granite counters, center island, and stainless steel appliances. Enjoy the see-through fireplace to the family room. New carpets (2023) on upper floors. The spacious master suite features an upgraded bathroom with double vanities, a walk-in closet, a shower, a jacuzzi, and heated tile floors. Two bedrooms connected by an upgraded Jack and Jill bathroom. Fully finished basement with half bath. High-efficiency zoned HVAC, attic insulation, and new hot water heater. Plantation shutters, crown molding, tandem 3-car garage, brand new deck, and additional freshly stained deck. Three-layer windows, French drains, and a new roof (2023). Note: Basement square footage not fully reflected on tax records.

OPEN HOUSE 08/24 1-3pm and 08/25 1-3pm

Beautiful family home with a large eat-in kitchen, granite counters, center island, and stainless steel appliances. Enjoy the see-through fireplace to the family room. New carpets (2023) on upper floors. The spacious master suite features an upgraded bathroom with double vanities, a walk-in closet, a shower, a jacuzzi, and heated tile floors. Two bedrooms connected by an upgraded Jack and Jill bathroom. Fully finished basement with half bath. High-efficiency zoned HVAC, attic insulation, and new hot water heater. Plantation shutters, crown molding, tandem 3-car garage, brand new deck, and additional freshly stained deck. Three-layer windows, French drains, and a new roof (2023). Note: Basement square footage not fully reflected on tax records

? Nestled at 15 163 W 146th Circle, Olathe, KS 66062, this captivating two-story home, built in 1998, offers a harmonious blend of timeless elegance and contemporary flair. Step inside to discover clean lines and open spaces that welcome you into a world of comfort and style. Hardwood flooring graces the interior, complementing the updated kitchen counters and a suite of appliances that stay, including the refrigerator, washer, and dryer. Descend to the spacious basement, where a bedroom and bath await, providing additional living space ideal for guests or relaxation. Plus, enjoy the peace of mind with newer HVAC and water heating systems, ensuring comfort and convenience year-round. This dream home, boasting 5 bedrooms, 5 bathrooms, and 3,480 sq. ft. of living space, is ready to be yours for $499,000.