You will need to prepare or have already started saving, for a down payment to move from renter to homeowner. A down payment typically consists of three to twenty percent of the overall cost of the house; but, if you're a successful buyer, like the median, it may be as high as nineteen to twenty percent. If you're just starting, it could seem intimidating, but with time and with proper planning, you can find innovative methods to save money. According to a 2022 Zillow analysis, 63% of recent mortgage recipients made at least some use of savings as their down payment.
How much you plan to spend on a down payment will determine exactly how much you save each month; if you're having trouble, don't be afraid to contact a lender. They can assist you in crunching the statistics, and from there, you can figure out how much you'll need to be saved once you've determined an approximate moving date.
It's a terrific start if you already have a set-aside amount for savings each month. Naturally, the more you can save, the quicker you'll be able to pay off your house. Here are 21 suggestions to assist in achieving that.
Engaged couples are more likely than ever to request cash contributions from friends and family instead of customary wedding presents. According to research from The Knot, the percentage of couples who include a "home fund" in their wedding register has gone up by 55% in the last five years. About 20% of couples who have registered on The Knot currently have down payment funds; in 2022, they were the second most popular cash fund, only surpassed by the treasured honeymoon fund.
"Marriage empowers couples to customize their registries to their unique aspirations," says The Knot deputy editor and wedding specialist Esther Lee. Even though some guests might rather spend their cash contributions on a celebratory dinner or honeymoon getaway, there's something very unique about a wedding gift assisting the newlyweds in achieving another significant life milestone: becoming homeowners.
As Lee notes, "approaching a down payment registry option requires some additional thought when it comes to etiquette," so keep that in mind if you're thinking about establishing a home fund. This includes letting go of the notion that the down payment will be covered in whole by wedding presents. Furthermore, it is not appropriate for couples to assume that they will get the entire amount of gifts before the wedding.
Choose "new home fund" from The Knot Registry's pre-selected selection of cash funds, or come up with a unique name for your own, to get started. From there, you can include the requested sum and inform visitors of your plans for the donated money in a brief note. Here, clarity is key since it will enable you to achieve your goals. For your loved ones to carefully evaluate their contribution and celebratory present for your future trip, Lee thinks it does well to include the down payment amount on your registry.
"Remember that this is a wedding gift over a simple down payment contribution, which should also help you approach the thank you note process with grace and care," is Lee's advice when it comes to expressing thanks.
With a side gig, you can find many inventive methods to save and make extra money if you're ready to work a bit more on the weekends or after work. You might consider home-sitting, babysitting, dog walking, or waiting tables. You can even pursue an artistic pastime of selling homemade goods to friends and coworkers or online.
'A side hustle doesn't have to take up a lot of time,' states Bill Promes, a financial advisor with Mill Valley, California's Austin Creek Capital. It's simpler to keep on course when you add a new revenue stream with a clear goal.
If you now commute alone by car, think about your other options. If public transportation is available where you live, that may require using it. If it's not possible, consider bicycling, carpooling, or asking your employer if you may work from home a few days a week. You can transfer those costs to your savings for a down payment on a house when you get creative with your commute.
If you have exceptionally high commuting costs, you might think about finding a position that allows you to work from home or reduce your commute. Having said that, before moving to employment, you might wish to check with your loan officer if you intend to purchase a home within the next two years. A recent change in your profession or a move to self-employment may make it more difficult for you to get a mortgage.
If you have to spend a lot of money every month to pay off your car loan and owning a car is your only alternative, take a close look at your finances. If you have the money, consider using cash to buy a less expensive car. Naturally, a lot of this depends on how dependent you are on your vehicle, and gas mileage is a significant consideration. You don't want to replace your existing car with a more expensive, gas-guzzler.
Additionally, it's critical to ensure that the car you choose won't wind up costing you much more than your prior vehicle. You won't be able to accumulate enough cash for a down payment if you fall into a routine of having your automobile fixed all the time.
If you realize you have extra money in savings or receive a bonus, think about applying it to your debt. Paying off debt with a high annual percentage rate (APR) might help you raise your down payment savings by lowering or eliminating your monthly interest expense, which, considering that you wish to save money for a mortgage, can appear paradoxical. Your ability to save for a down payment on a house will increase as you pay off more debt.
Performing some spring cleaning is usually a good idea, regardless of the season. You can be motivated to acquire fewer things and just invest in those that you truly need if you set yourself the challenge of maintaining a minimalist wardrobe. In addition, you can clean your home and possibly earn money for your down payment by selling the clothes you no longer wear. Many websites, such as Depop, Poshmark, and ThredUp, can facilitate this process. Alternatively, you might organize a garage or yard sale that may bring in a lot of money, or you could drop off items for sale at a nearby consignment store.
Consider this inventive method of making and saving money if you have any experience with refurbishing, artistic talent, or interest in the creative arts: restoring used furniture. When you're selling your unwanted items on internet marketplaces, keep an eye out for deals on old furniture that you can paint or reupholster to make it seem nicer and then resell for a profit. You can rely on online tutorials to get you started, even though this isn't one of the simpler ways to make some additional money.
Whether you're shopping for furniture or clothing, try to buy used items or sign up for a "Buy Nothing" organization so you may trade items with neighbors. You might be shocked by what you can find for free or at a reduced price, whether you search online or in person at a thrift store.
Do an "edit" of your house, closet, or garage before making any unnecessary purchases to make sure you're not buying anything you already own, don't need, or, in the case of clothing, might not wear frequently enough to warrant. Unsubscribe from email lists and automatic purchases that try to get you to buy items you might not need.
Employ the "envelope system," sometimes referred to as "cash-stuffing," as a way to reduce your expenditures. It involves depositing predetermined sums of cash into envelopes labeled with various expenditure categories on the first of the month. This strategy became widespread on social media. You can't spend any more money on a category until the next month once an envelope is empty. Remaining cash? You can either use it as funds for your down payment or carry it over to the following month.
Applying for cash-back rewards credit cards and setting aside that money for a down payment on a home are wise decisions if you're a prudent credit card user.
To find out more about how to take advantage of your credit card benefits, research your credit card programs. Credit card points, for instance, can be converted into airline miles, allowing you to reduce or even completely avoid the cost of flying tickets.
Until you believe you have saved enough money for your down payment, cut out any needless travel. Even though it doesn't seem like much fun and can mean skipping a well-earned holiday, reevaluating pointless travel arrangements is a terrific method to reduce expenses and save money. If you want to continue taking vacations, try to find a happy medium ground. Maybe think about traveling for a shorter period, saving money, and paying using credit card points rather than cash.
In 2022, Zillow researchers conducted a buyer survey and found that 41% of potential buyers postponed their vacation plans to save money for a down payment on a home.
Consider your savings target as a monthly expense. Establish an automated transfer from your checking account to the savings account you set up for your down payment. Setting aside a portion of your income for savings automatically makes saving money easier and reduces the urge to squander it.
Raise the ante and be inventive in how you choose to save. With greater interest rates than a standard savings account, high-yield savings accounts, bank certificates of deposit (CDs), and certain Treasury bonds can help you turbocharge your money. As money remains in your account, your savings will increase.
"Series I Treasury Bonds are a great place to put some of your cash, especially for a down payment on a house," says Jovan Johnson, co-owner of Piece of Wealth Planning in Decatur, Georgia. "There are some rules to be aware of, though." Furthermore, interest on other kinds of savings may also be subject to state-level taxes. "And, the interest is taxed only at the federal level." That reduces your returns by a further chunk.
Downsizing your existing place may help you save more money each month for the down payment on your future house, but it may be a difficult decision. In 2022, Zillow researchers conducted a buyer survey and found that approximately 21% of potential buyers lived in a smaller home than their preferences due to cost concerns. Your savings might mount up faster than you might imagine if you can downsize from a rental house to a smaller rental unit or from a one-bedroom apartment to a studio.
The extra expenses will also decrease. "You can save money on rent and utilities by moving to a smaller apartment," advises Ryan Graves, president of Bemiston Asset Management in St. Louis, Missouri. You can also save money by filling a smaller space with fewer items. It's also much simpler to go from a little space to a larger one when the time comes, filling it up gradually, he added.
Living alone is an opulent experience, and sharing a place with roommates can significantly reduce living expenses. Rent can be halved by taking on even one more tenant. Consider asking a relative or friend to let you stay with them temporarily in exchange for assisting with housework or other chores if you're truly committed to saving money and feel comfortable with this choice.
Are twelve distinct streaming services really necessary? Are there any apps or subscriptions that you don't need? Limit your streaming to just one service. About one-third (33%) of respondents to Zillow's 2022 survey of potential homeowners said they had canceled their internet, phone, cable, and streaming subscriptions to save more money for a down payment. These savings can be considerably more achievable than you think.
Using the wealth of free resources available at libraries can help you save money that you can apply to a down payment. The next time you're in the market for a book, think about checking your local library to see whether they already have it in stock.
However, some libraries allow cardholders to borrow special things in addition to books. For instance, you can borrow telescopes, tackle boxes, and fishing poles at certain St. Louis Public Library branches. Visit the library in your area. When you learn what they have to offer, you may be shocked.
Budgeting is required for everyday necessities like auto insurance, Internet access, and cell phone bills. Having said that, there are ways to save money on these payments by comparing prices.
"Perhaps your provider doesn't offer many discounts, or you're overpaying for auto insurance," Johnson suggests. To reduce your monthly premium, you might be able to bear a larger deductible for a year or two.
It's not simple to save, but you don't have to do it by yourself. As you work toward your savings objectives, talking to your partner or a friend helps you feel more accountable. Set up regular time to talk with your pal or partner about your finances. As you work together to identify methods to save money and prepare your monthly budgets, you may support one another. Remember to monitor your development and acknowledge your "victories."
While going to a movie on the weekend or to happy hour after work is enjoyable, cutting back on extracurricular activities is a simple method to increase your income. Instead of going out, have a fun movie night at home or invite friends over for a game night.
Frequent dining out can also develop into a costly habit. If you work in an office, try packing a lunch to bring to work instead of purchasing one. Going grocery shopping and making your lunch at home is very reasonably priced. Look out for recipes online for meals that are affordable.
You won't be traveling alone as you try to save lives. A 2022 Zillow study found that 48% of would-be homeowners reduced their recreational spending, such as going out to eat, attending concerts, and watching movies, to put money down for a down payment. Do you want an extra tip for cutting costs? Plan to spend nothing on weekends. Try not to spend a single dime on one weekend a month. How much you can save may surprise you.
Unbelievably, no matter where you reside, there are free activities nearby. Create a calendar or list of inexpensive or free entertainment options. Having fun doesn't have to cost money. Try going for a stroll with a buddy, playing games at the neighborhood park, or signing up for a free yoga or fitness class.
Spending your tax refund as soon as you receive it can be tempting. But you might want to put money aside for a down payment on a home.
Add the entire amount of any refund you get when you file your income tax returns to your savings. Alternatively, you might apply it to your highest APR debt by making an additional payment. You can receive more interest income the more you save. The more debt you pay off, the less interest you'll pay.
Homebuyers may be eligible for down payment assistance programs under certain mortgage types. These programs are typically supported by grants or loans from local governments or nonprofits. For more information, check out the Down Payment Resource Center or speak with your mortgage lender or real estate agent.
Make an appointment to speak with a home mortgage lender and a real estate agent before deciding on a goal savings amount for a down payment on a house.
As you save, keep checking for properties on the internet and updating your lists of requirements, wants, and wishes. It might not take you as long as you think to locate and purchase the house of your dreams.
The real estate industry is only one of the many industries artificial intelligence (AI) has changed. AI is becoming a vital tool for real estate agents, investors, buyers, sellers, and other stakeholders due to its capacity to analyze enormous volumes of data, automate procedures, and offer insightful analysis.
However, there’s still an unanswered question going on for a long time: will AI replace realtors and their services? The short answer is no.
Instead, AI complements what they offer, thus providing a positive effect on both the real estate industry and customers.
The capacity of AI to process and analyze enormous volumes of data is one of its most important benefits in the real estate industry.
AI algorithms can be used by real estate brokers to gather and evaluate demographic data, property data, market trends, and other pertinent information. They obtain important knowledge about pricing, demand trends, investment possibilities, and property comparisons by doing this.
To determine a property's fair market value, artificial intelligence can gather enormous volumes of data from a variety of sources, including past transactions, the characteristics of the property, and the state of the market.
AI-enabled tools can spot developing markets, forecast changes in real estate values, and make data-driven investment choices. Artificial intelligence can be useful in predicting future trends in the residential and commercial real estate markets, even though it is not a crystal ball.
Platforms with AI capabilities have greatly enhanced the home-search experience for investors and buyers alike. These services generate individualized property recommendations based on local data, historical trends, and user preferences through machine learning algorithms.
To make the process of finding a property easier, artificial intelligence can consider a variety of aspects, including location preferences, desired amenities, budget, and more. For buyers, investors, homeowners, and even real estate brokers helping their customers, this new technology saves time and effort.
AI is not the enemy in real estate. Artificial intelligence can be a huge asset in giving investors, house sellers, and purchasers a more accurate and tailored experience. Furthermore, artificial intelligence can be used by real estate firms to customize their services to meet the unique needs of each customer.
The way properties are marketed using augmented reality (AR) and virtual reality (VR) technologies has been completely transformed by artificial intelligence. By using virtual tours, potential investors and purchasers can inspect homes from a distance, which can save time and money.
Using floor plans and other information, AI technology can also create 3D models and renderings of properties, providing investors and buyers with a realistic representation of the area. Before in-person visits, this immersive experience helps you refine possibilities and make educated judgments during the home hunt.
When looking for a home in a new real estate market, prospective buyers from out of state can benefit greatly from virtual tours. While taking a virtual tour of the property cannot substitute seeing it in person, AI can assist prospective buyers learn about the essential features of the house.
Accurate property pricing is essential for real estate agents and sellers. To identify the best pricing tactics, AI algorithms can examine past data, market trends, property features, and regional considerations.
Before the development of artificial intelligence, property values were manually determined using data from previous sales in the area. However, AI in real estate can produce more accurate property prices, benefiting both buyers and sellers, thanks to machine learning and predictive modeling.
Real estate experts and agents may forecast property demand, find possible buyers, and suggest competitive prices by leveraging predictive analytics technologies. Sellers can improve their listings, draw in more potential customers, and close deals more quickly with the help of AI-powered pricing tools.
AI is automating a lot of the work in property management and making it more efficient. Intelligent systems are capable of optimizing building operations, detecting maintenance difficulties, and monitoring and controlling energy consumption. This not only saves money but also makes the occupants happier.
AI-powered software simplifies administrative work, keeps track of lease agreements, oversees maintenance, and offers individualized tenant services to real estate brokers handling numerous properties.
These astute technological developments free up professionals' time and resources so they can concentrate on higher-value tasks.
Although artificial intelligence (AI) has great promise for the future of many industries, including real estate, it is unlikely to displace the real estate industry entirely for several reasons.
Complex decision-making procedures involving real estate transactions call on human judgment and experience.
Artificial Intelligence (AI) might be able to evaluate data and offer insights, but it is unable to comprehend the complex desires and feelings of consumers and sellers. AI cannot easily replace the individualized counsel, bargaining skills, and recommendations that real estate brokers provide.
Property transactions are frequently emotional and private affairs. Consumers like the personal touch and credibility that real estate brokers provide.
An AI system won't be able to build the same kind of connection or offer the emotional support that customers frequently need in these kinds of interactions.
The real estate markets in different places differ significantly. Real estate brokers are extremely knowledgeable about local amenities, zoning laws, market trends, and particular communities.
To give clients reliable counsel and guidance, localized expertise is essential. Without access to complete and current data, AI systems may find it difficult to reproduce this expertise.
Outstanding communication and negotiating abilities are necessary while negotiating the parameters of a real estate transaction. Real estate brokers are skilled negotiators who can speak up for the interests of their clients.
Even if AI is capable of using data analysis to recommend negotiation tactics, it might not have the interpersonal abilities needed to handle difficult discussions.
Both substantial financial outlays and legal requirements are present in real estate purchases. Real estate brokers are frequently relied upon by clients to guarantee a seamless and compliant transaction.
Real estate agents have a fiduciary commitment to their customers. This entails controlling any risks, maintaining confidentiality, and safeguarding their interests. In these transactions, the human aspect fosters confidence and establishes accountability.
Artificial Intelligence (AI) has revolutionized the real estate industry, offering advantages to consumers, sellers, investors, and professionals alike.
Artificial intelligence (AI)-powered technologies have completely changed the real estate industry, from data analysis and market insights to virtual tours and predictive analytics. Even if artificial intelligence (AI) makes decisions easier, increases productivity, and streamlines procedures, it is unlikely to completely replace the function of real estate experts.
After all, nothing beats an amazing real estate agent.
As the leaves start to turn and the crisp air of fall rolls in, Indianapolis comes alive with seasonal activities perfect for all ages. Whether you're a fan of outdoor adventures, family-friendly festivals, or simply love taking in the beauty of autumn, the Circle City has something for everyone. Here’s your master guide to making the most of fall fun in the Indianapolis area.
A quintessential fall experience, visiting pumpkin patches and navigating through corn mazes can make for a fun-filled day with family or friends. A few local favorites include:
A thriving orchard and cider mill, Stuckey Farm offers 37 varieties of U-pick apples. With annual fall festivals and a wide range of family-friendly activities, it’s the perfect autumn destination for all ages. Enjoy tractor rides, fresh cider, and a stroll through their 8-acre corn maze.
For over 90 years, this family-owned farm has provided top-quality produce and authentic agricultural experiences. Tuttle Orchards, now run by the fourth generation, is open year-round, but the fall season is a favorite for apple picking, hayrides, and fresh cider. Their dedication to local produce, agricultural education, and family history makes Tuttles a unique fall destination for families.
Piney Acres offers tons of family-friendly activities each fall, including a huge corn maze, tractor-driven wagon rides, farm animals, a massive play area, bounce pillow, gem mining, and old-fashioned farm games. Visitors can explore a wide selection of pumpkins, squash, corn, and sunflowers in all shapes and sizes for every price range. The farm also has carving tools and patterns available in the Farm Store. (Please note: Pumpkins are grown off-site and pre-picked.)
Fall wouldn’t be complete without attending one of the many vibrant festivals happening around Indianapolis. Here are a few you shouldn’t miss:
If you're looking to escape the city and immerse yourself in nature, Indianapolis has plenty of scenic spots to enjoy the fall foliage.
If you’re in the mood for some spine-tingling fun, the Indianapolis area offers plenty of haunted houses and ghost tours:
'
As we transition into cooler weather, local farmers' markets continue to offer a bounty of fall produce. You can find fresh apples, squash, pumpkins, and more at markets like:
Whether you're looking to explore nature, get into the spooky spirit, or simply savor the flavors of the season, the Indianapolis area has something for everyone. So grab your scarf, sip on some hot apple cider, and dive into the joys of fall!
As we move into August, it’s a great time to look back and analyze the real estate trends from July. The summer months have provided us with valuable insights into the Indiana housing market, revealing patterns that could influence your real estate decisions. Whether you’re planning to buy, sell, or simply keep an eye on the market, here’s a snapshot of how key Indiana counties performed in July, offering valuable insights into the trends that shaped the market last month.
Comparison Note: Percent change comparisons reflect results from June 2024 to July 2024 for the prior month, and from July 2023 to July 2024 for the prior year. Data provided by MIBOR Listing Cooperative, compiled on August 11, 2024.
Bartholomew County
In Bartholomew County, the median sales price has dipped to $254,900, marking a notable decline of 8.6% from last month and 9.3% from last year. This drop in prices might suggest a cooling market, but it's worth noting that the number of units sold has increased significantly by 33.7% compared to the previous month. This rise in sales could indicate that despite lower prices, buyers are actively seizing opportunities. The inventory levels remain stable with 157 active listings, while new listings have slightly decreased, down 8.9% from the prior month.
Boone County is seeing a more complex picture. The median sales price of $394,000 represents a decrease of 7.3% from last month, though it’s only a slight drop of 2.5% year-over-year. The number of units sold has seen a 6.8% increase from last month, which might suggest that despite falling prices, the market remains dynamic and active. However, with new listings falling by 12.6%, the active inventory of 157 homes has slightly decreased. The consistent median days on market of 13 days may indicate that well-priced homes are still attracting buyers relatively quickly.
Brown County
Brown County is experiencing a significant drop in median sales prices, down 13.9% to $309,999. Despite this, units sold have increased by 21.1%, showing a positive trend in sales activity. The rising inventory levels, up 16.1%, might be contributing to this price reduction, providing buyers with more choices. The median days on market have decreased substantially, suggesting a faster-moving market despite the drop in prices.
Decatur County
Decatur County presents a different scenario with a dramatic 20.2% drop in median sales price to $210,000. However, the number of units sold has increased by 31.6%, which could indicate that lower prices are driving higher sales volumes. Inventory levels are down slightly, and with a decrease in new listings, the market might be adjusting to these price changes. The reduced median days on market to 11 days shows that homes are selling quicker in this lower-price bracket.
Hamilton County
Hamilton County’s market shows resilience with a median sales price of $464,950, up 3.0% from last month. The number of units sold has decreased slightly by 1.3%, but the increase in active inventory and new listings suggests a more balanced market. The median days on market have increased significantly to 11 days, which could be a sign that higher-priced homes are taking a bit longer to sell, possibly due to the higher inventory levels.
Hancock County
Hancock County is seeing a modest increase in median sales price to $326,750, up 1.3% from last month. Sales activity is strong with a 31.0% increase in units sold, indicating a vibrant market. Despite a slight decrease in new listings, the median days on market is stable, suggesting a healthy demand for homes in this area.
Hendricks County
In Hendricks County, the median sales price has remained relatively stable at $349,240, with a slight 0.2% decrease from last month. Sales have slightly decreased by 7.6%, yet the inventory remains manageable with a slight decrease in new listings. The increase in median days on market indicates that while homes are still selling, they may be taking a bit longer to find the right buyer.
Jackson County has experienced a 4.3% drop in median sales price to $225,000. Despite this, sales activity has increased by 7.9%, and the median days on market have decreased significantly. This suggests that lower prices might be stimulating buyer interest and quicker sales.
Jennings County
Jennings County’s median sales price has remained steady at $212,000, with no change from the previous month. However, the number of units sold has decreased, suggesting a potential softening in demand. The increase in active inventory and median days on market might indicate a shift toward a more buyer-friendly market.
Johnson County
Johnson County’s market shows a decrease in median sales price to $307,998, down 9.4% from last month. Despite this, sales activity remains strong with a decrease in median days on market, indicating that homes are still selling relatively quickly. New listings have slightly increased, suggesting a steady flow of new properties coming onto the market.
Madison County
Madison County is experiencing a strong market with a 36.4% increase in median sales price to $225,000. The number of units sold has also increased significantly, suggesting high buyer demand. The stable median days on market indicates that homes are selling at a consistent pace despite the rising prices.
Marion County
Marion County’s median sales price is $259,000, showing a slight decrease from last month but an increase from last year. The large number of units sold and the increase in active inventory suggest a robust and active market. The decrease in median days on market to 12 days indicates that homes are selling relatively quickly in this large and diverse market.
Montgomery County
Montgomery County shows a significant decrease in median sales price to $177,500, down 12.6%. Despite this, the number of units sold has increased, suggesting that lower prices are attracting more buyers. The decrease in median days on market indicates that homes are selling faster, likely due to the more attractive pricing.
Morgan County
Morgan County has seen a decrease in median sales price to $313,750, down 3.5%. However, sales activity remains strong, and the decrease in median days on market suggests a quick turnover for homes in this area. The increase in active inventory and new listings may offer more options for buyers.
Putnam County
In Putnam County, the median sales price has increased slightly to $259,000. However, the significant decrease in new listings and increase in active inventory suggest a market adjusting to changes. The longer median days on market may indicate that homes are taking a bit longer to sell.
Shelby County
Shelby County has seen an increase in median sales price to $272,500, with a 6.9% rise from last month. Despite a slight decrease in the number of units sold, the increase in median days on market suggests that while prices are rising, homes are taking longer to sell.
As you consider these insights, remember that local market conditions can vary widely. If you’re thinking about buying or selling, it’s always a good idea to consult with a local real estate expert who can provide personalized advice based on your specific needs and goals. Reach out to Indy’s leading brokerage, RE/MAX Advanced Realty, at 317-298-0961 (West Office) and 317-881-3700 (Greenwood Office) to connect with experienced professionals who can help you navigate the current market trends and make informed decisions.
The living room is frequently called the "heart" of the home, and there is a good reason for this perception. It is the focus for friends and family get-togethers and fulfills several functions. A friendly and well-arranged living room may create an excellent first impression on visitors and help them feel at home.
The living room has many uses because it is such a flexible area. Its design and decor affect the home's overall appeal. A well-planned living room may give the entire home feel cozy, while a poorly constructed one does the opposite.
There are many things you can do in the living room, which can also serve as a workspace, a reading area, or a music room. Thus, giving it the right attention as well as an upgrade is always a good idea. Here are ways how to make this room more welcoming and elegant.
A lighting source, whether it be a floor, table, or ceiling lamp, may also make a statement. Consider using dramatic lighting accents like large lampshades, a glitzy gold lamp base, or a contemporary crystal chandelier. A space can have a high-style focal point with a shining finish or an enormous size.
The brass chandelier and table lamps in this room lend the black-and-yellow color scheme a striking, opulent radiance.
Budget Tip: Budget-friendly glamorous lighting choices are undoubtedly possible. You may find crystal ceiling fittings that cost less than $200. For elegant floor and table lamps, check big-box stores for striking designs that cost less than $100.
Mirrors are the ideal piece of furniture to add light, create the appearance of greater space, and give off a glitzy, luxurious vibe. A huge mirror over a sofa, credenza, or focal point, like a fireplace, should be hung.
In this white living room, a collection of simple, large mirrors creates a chic background for the white couches. It gives just the appropriate amount of glitz without giving the room the appearance of an ostentatious jewel box.
Budget Tip: Oversized mirrors don't need to be elaborate to look opulent. If a large mirror isn't available, consider clustering smaller mirrors to achieve a like look.
The larger the canvas or framed piece of art in the living room, the more upscale the space will appear. Large artwork gives an expensive-looking gallery appearance.
A regular white cabinet in this room becomes the focal point of the room thanks to a giant artwork painted in metallic gold. The striking black lamp adds even more drama to the wall.
Budget Tip: It can be difficult to choose affordable art that has a high-end appearance. It's challenging since art is individualized and subjective. Look through your local flea markets or online marketplaces like Chairish and Etsy for reasonably priced solutions. A huge original painted canvas or framed print usually looks more upscale than a giclée or printed canvas. Your living space can have a gallery-like atmosphere by using basic shapes and forms that you like, that provide drama, or a flash of color.
Your space will appear larger with a rug that can comfortably fit beneath all of your key pieces of furniture, including the coffee table, sofa, and armchairs. When trying to elevate the standard of design and elegance in a living room, this is crucial.
This area's huge carpeting highlights every piece of furniture. Its vastness allows the eye to move about and take in the room's expanse, which includes the colorful pouf and chic accent chair. This is how the room would appear if there was just a tiny rug beneath the coffee table. A modest size would resemble a bath mat and give the impression that the room is smaller.
Budget Tip: While sisal and jute are natural fiber carpets, they might be more affordable than large rugs. To give them a softer feel, they are occasionally woven with other materials. As an alternative, search for cozy-textured indoor-outdoor rugs.
Hang window coverings from the ceiling or as high up on the wall as you can. Elevated placement, a common characteristic in luxury living rooms, adds volume and offers the illusion of a higher ceiling.
Budget Tip: If you can't afford pricey curtain panels, you may still give your space a more upscale appearance by hanging more of them, or doubling up on the panels. Most curtain materials appear more opulent when they have thicker bunched panels. You can also hide any subpar detailing or quality in your drapes by doubling the number. Even less expensive curtains typically look more expensive when they have a consistent hue and some texture.
It is possible to make your living room feel more inviting and comfortable without spending so much. All you have to do is add in a little creativity along with research.
As always, you can check our website to see more design inspirations.
In Indiana, there is one city where the population is growing faster than the others. Can you figure out which one it is?
In this post, we'll talk about not one, not two, but 10 cities in Indiana that are rapidly growing. This will help you choose which places to consider if you move to the Hoosier State.
The history of "The Hoosier State" is primarily associated with farming, motor racing, and basketball. This state is home to about 6.7 million people, so you might end up joining the crowd. We can help if you are having trouble deciding which city to call home.
1. Westfield, Indiana
First on our list is Indianapolis' northernmost suburb, Westfield, IN. There are currently 50,650 people living in the city, a 28% growth from 2017.
The number of wonderful parks in Westfield, such as Quaker Park, Macgregor Park, and Asa Bales Park, is only one of the numerous reasons why people are relocating there. Locals can also discover a wide variety of eateries in the city, such as The Mill Tavern, Grindstone on the Monon, and The Italian House on Park.
2. Noblesville In Indiana
The second-fastest-growing city in Indiana is Noblesville. Its population increased by 15%, reaching a current estimate of 70,950.
Noblesville, Indiana is renowned for its numerous parks and trails, antique stores, and historic downtown. The Noblesville Farmers Market and the Noblesville Street Fair are two of the city's yearly festivities.
Noblesville offers a variety of exciting activities, including sports at Dr. James A. Dillon Park and Finch Creek Park, dining at Chuy's, Aspen Creek Grill, and Grindstone Public House, and attending concerts at Ruoff Music Center.
3. Greenwood In Indiana
The charming downtown area and spacious, historic residences in Greenwood, IN are its most notable features. Its population has increased by 13% to approximately 64,950.
Try something to eat at one of the neighborhood's favorite spots, The Yard Cafe, Valhalla Sandwiches, or Baranof Restaurant, to get a taste of what it's like to live in Greenwood.
After that, you can take a leisurely stroll through one of the many parks, such as Old City Park. And finally, do not miss a performance at the Greenwood Performing Arts Center.
4. Fishers In Indiana
Ranking fourth on our list of Indiana cities with the quickest rate of growth in Fishers, IN.
Fishers is a thriving, growing city that has won awards for entrepreneurship and livability across the country. The population of the city increased by 10% to approximately 101,200 people today.
Living in Fishers offers a plethora of fantastic things to do, including visiting Roy G. Holland Memorial Park, Billericay Park, and Cumberland Park, or stopping by Paterson's, Sahm's Restaurant, or City Barbeque for a quick bite.
5. Columbus In Indiana
Are you considering relocating to Columbus? The city is mostly renowned for its distinctive architecture, which consists of thousands of architectural treasures dispersed throughout the entire area. Columbus now has about 50,600 people living there, a 7% rise in population. It's among the more reasonably priced areas of Indiana to call home.
Searching for things to do in Columbus? Try jogging at Freedom Field, Mill Race Park, and Clifty Park; viewing art at the Atterbury Bakalar Air Museum; attending a performance at the Mishawaka or Midway Tavern; or indulging in delectable cuisine at Amazing Joe's Grill, Taku Stead House, and Henry Social Club.
6. Jeffersonville In Indiana
Ranking sixth, Jeffersonville, IN is mostly recognized for its picturesque Ohio River vistas and close proximity to Louisville, KY. The city's population of approximately 50,300 has increased by 6% in the past year.
There are many interesting things to do in Jeffersonville, like having a picnic in Bob Hedge Park, Warder Park, or Chapel Lake Park, seeing a performance at Jeffersonville Riverstage, or dining at one of the neighborhood's eateries, The Red Yeti, Pearl Street Taphouse, or Parlour.
7. Mishawaka In Indiana
Are you considering moving to Mishawaka, Indiana? The city's riverfront parks, growing downtown, and frequent events are its most notable features. It is where the famous University of Notre Dame is also located. Mishawaka now has 51,100 residents, a 4% increase.
You might be wondering what living in Mishawaka, IN is like. There are plenty of things to do, like dining at Doc Pierce's Restaurant, Evil Czech Brewery and Public House, and Papa Vinos Italian Kitchen, or just lounging around Battell Park, Central Park, and Merrifield Park.
8. Carmel In Indiana
Located at number eight on our list, Carmel, IN is most recognized for its abundance of roundabouts. Since the 1990s, the city has been installing roundabouts, and as of right now, Carmel has more than 100. Its population, which is currently estimated to be around 100,800, increased by 3%.
Check out one of the many fantastic parks in Carmel, Indiana, including Flowing Well Park, Founders Park, and Carey Grove Park, as well as places like The Center for the Performing Arts, Booth Tarkington Civic Theatre, and The Cat, if you're wondering what to do there. For a taste of everything the city has to offer, don't miss a visit to some of the local favorites, Charleston's Restaurant, Muldoon's on Main, and Bub's Burgers & Ice Cream. See the Museum of Miniature Houses and Other Collections after that. Living in Carmel offers something for everyone.
9. Kokomo In Indiana
Kokomo, sometimes known as the "City of Firsts," was the first American city to employ rolling mill technology to create steel and to install electric street lights. It is Indiana's ninth-fastest-growing city. The city now has 59,700 residents, representing a 3.17% increase.
Are you curious about life in Kokomo? Well, there are plenty of enjoyable things to explore. Jackson Morrow Park, Foster Park, and Highland Park are good places to enjoy the outdoors. Windmill Grill, Half Moon Restaurant & Brewery, and Choo Choo McGoo's are great places to try if you enjoy dining out. Make sure to visit The Kokomo Country Palace and Seiberling Mansion if you're looking to explore the local arts and entertainment scene
10. Elkhart In Indiana
Elkhart, Indiana, which has a long history in the RV and musical instrument manufacturing industries, comes in at number 10. To reach its current population of around 54,000, there was a 3.01% population decrease.
There are plenty of things to do in Elkhart, like visiting museums like the National New York Central Railroad Museum and the Hall of Heroes Superhero Museum and strolling through parks like Studebaker Park and Island Park. Take a look at Chubby Trout, The Vine, and Cappy's Northside Tavern and Restaurant for some of Elkhart's best cuisine. You can see a performance at Five Star Dive Bar and The Lerner Theatre later on.
Many cities in Indiana are growing, each with its charm and attractions. The city listed in Indiana above has growing populations, vibrant cultures, and many recreational options. A rich history and modern amenities draw inhabitants to Indiana's various communities.
If you want to know which cities in Indiana suit your needs and preferences, our team at RE/MAX Advanced Realty is here to help you!
Send us a message or leave a comment below to get started.
As we reach the midpoint of the year, the Central Indiana single-family homes market continues to display dynamic shifts across its counties. From the bustling urban landscapes of Hamilton County to the scenic retreats of Brown County, each area offers a distinct perspective on the current housing market. This is our interpretation based on the data provided by MIBOR Market Insights, examining trends observed from May 2024 to June 2024 and providing a comparative look at year-over-year data from June 2023 to June 2024. Whether you're a prospective buyer or seller, understanding these trends is essential for making informed real estate decisions in today's evolving market.
Bartholomew County shows a stable market with a slight decrease in median sales price compared to the previous month but a modest increase year-over-year. The decrease in units sold suggests a slower market pace, providing buyers with more negotiating power. Active inventory has increased, offering buyers more choices, although fewer new listings may limit options. Properties are selling quickly with a low median days on market, indicating continued demand despite some price fluctuations.
Boone County demonstrates a strong market with a significant increase in median sales price month-over-month and year-over-year, reflecting rising property values. However, the decrease in units sold indicates a slower market pace, potentially due to increased prices and limited inventory growth. Active inventory has risen slightly, but fewer new listings may constrain buyer options. Properties are selling quickly with a low median days on market and an uptick in price per square foot, suggesting continued demand in a competitive market.
Brown County shows a mixed market with a notable decrease in median sales price compared to the previous month but an increase year-over-year. The decline in units sold suggests a slower market pace, which could provide buyers with more negotiating opportunities despite a stable inventory. Median days on market have decreased significantly, indicating properties are selling faster, but fewer new listings may limit buyer choices. Price per square foot has also decreased slightly, potentially offering buyers more affordable options in this market.
Decatur County displays a strengthening market with a substantial increase in median sales price month-over-month and year-over-year. Despite a decrease in units sold, active inventory has expanded, offering buyers more options. Properties are selling relatively quickly with a low median days on market, indicating strong demand. The increase in new listings further supports market activity, although the rise in price per square foot suggests increasing property values, potentially benefiting sellers.
Hamilton County maintains a robust market with a slight increase in median sales price compared to the previous month and stable growth year-over-year. Despite a modest decrease in units sold, active inventory has grown, giving buyers more choices. Properties are selling quickly with a low median days on market, reflecting continued demand. However, fewer new listings may limit buyer options despite a stable price per square foot, indicating a balanced market with steady growth in property values.
Hancock County shows a steady market with a decrease in median sales price compared to the previous month but a slight increase year-over-year. The decline in units sold suggests a slower market pace, potentially giving buyers more negotiating power despite stable active inventory. Properties are selling relatively quickly with a moderate median days on market, indicating steady demand. Fewer new listings may limit buyer choices, although the slight decrease in price per square foot could offer opportunities for affordability.
Hendricks County demonstrates a stable market with a slight decrease in median sales price compared to the previous month but a modest increase year-over-year. The increase in units sold suggests continued demand, supported by a growing active inventory. Properties are selling quickly with a low median days on market, indicating a competitive market environment. The slight increase in price per square foot reflects rising property values, potentially benefiting sellers despite fewer new listings limiting buyer options.
Jackson County shows a resilient market with a stable median sales price compared to the previous month and significant growth year-over-year. Despite a slight decrease in units sold, active inventory has remained stable, providing consistent buyer options. Properties are selling relatively quickly with a moderate median days on market, suggesting steady demand. However, fewer new listings may restrict buyer choices, although the increase in price per square foot indicates rising property values, benefiting sellers.
Jennings County displays a strengthening market with a notable increase in median sales price month-over-month and year-over-year. Despite a decrease in units sold, active inventory has expanded significantly, offering buyers more choices. Properties are selling relatively quickly with a moderate median days on market, indicating strong demand. The increase in new listings supports market activity, although the rise in price per square foot suggests increasing property values, potentially benefiting sellers.
Johnson County maintains a stable market with a slight increase in median sales price compared to the previous month and steady growth year-over-year. Despite a decrease in units sold, active inventory has grown moderately, providing buyers with more options. Properties are selling quickly with a low median days on market, reflecting continued demand. Fewer new listings may limit buyer choices, although the stable price per square foot indicates a balanced market with steady property values.
Madison County shows a varied market with a decrease in median sales price compared to the previous month and year-over-year. The decline in units sold suggests a slower market pace, potentially giving buyers more negotiating opportunities despite a stable active inventory. Properties are selling relatively quickly with a moderate median days on market, indicating steady demand. Fewer new listings may constrain buyer options, although the slight decrease in price per square foot could offer affordability in this market.
Marion County demonstrates a stable market with a slight increase in median sales price compared to the previous month and moderate growth year-over-year. Despite a decrease in units sold, active inventory has expanded, providing buyers with more choices. Properties are selling relatively quickly with a low median days on market, reflecting consistent demand. However, fewer new listings may limit buyer options, although the stable price per square foot indicates a balanced market with steady property values.
Montgomery County shows a stable market with a slight increase in median sales price compared to the previous month and strong growth year-over-year. Despite a slight decrease in units sold, active inventory has grown, offering buyers more options. Properties are selling relatively quickly with a low median days on market, indicating steady demand. The increase in new listings supports market activity, although the rise in price per square foot suggests increasing property values, potentially benefiting sellers.
Morgan County displays a robust market with a notable increase in median sales price month-over-month and year-over-year. Despite a slight decrease in units sold, active inventory has expanded, providing buyers with more choices. Properties are selling relatively quickly with a low median days on market, indicating strong demand. The decrease in new listings may limit buyer options, although the increase in price per square foot reflects rising property values, potentially benefiting sellers.
Putnam County shows a stable market with a slight increase in median sales price compared to the previous month and a decrease year-over-year. Despite a decrease in units sold, active inventory has grown significantly, offering buyers more options. Properties are selling relatively quickly with a moderate median days on market, indicating steady demand. The increase in new listings supports market activity, although the decrease in price per square foot suggests affordability, potentially attracting buyers.
Shelby County demonstrates a stable market with a slight increase in median sales price compared to the previous month and moderate growth year-over-year. Despite a decrease in units sold, active inventory has expanded, providing buyers with more choices. Properties are selling relatively quickly with a moderate median days on market, reflecting steady demand. The increase in new listings supports market activity, although the decrease in price per square foot suggests affordability, potentially benefiting buyers.
As we conclude our county-by-county analysis of the Central Indiana single-family homes market, it's evident that each area presents unique opportunities and challenges for buyers and sellers alike. From the rapid pace of Hamilton County to the steady resilience of Boone County and beyond, understanding these trends is crucial in navigating your real estate journey.
Looking ahead, the remainder of the year promises to be dynamic, with shifting market conditions influenced by economic factors and buyer-seller dynamics. Whether you're considering buying, selling, or investing in Central Indiana real estate, our team at RE/MAX Advanced Realty is here to provide expert guidance and support.
Explore our listings, connect with our experienced agents, and let us help you achieve your real estate goals in this competitive market. Contact us today to schedule a consultation and take the next step towards finding your dream home or maximizing your property's value. Trust RE/MAX Advanced Realty for insightful market analysis and personalized service, ensuring a smooth and successful real estate experience.
Being in the real estate industry for more than 20 years is both an exciting and challenging experience. There are many wins -- and by that we mean helping tons of clients find their dream homes and sell their properties at the best prices.
There are also times when we wish we could have done something better, and while these are times we, well... felt bad, we know these are crucial because these instances helped us learn. For instance, securing a client their dream home in a low inventory market required a strategic approach and dedication to their specific needs.
Below, we’ll share how we’ve accomplished it.
We started by thoroughly understanding our client's requirements, preferences, and budget constraints. This allowed us to narrow down the search and focus on properties that truly matched their criteria.
In a low inventory market, being proactive is key. We constantly monitored new listings and were quick to schedule viewings as soon as suitable properties became available.
We took advantage of our wide network and connections within the real estate industry.This gave us access to off-market listings and potential sellers who were considering listing their homes.
With limited options available, negotiation skills were crucial. We utilized creative negotiation tactics to make our client's offer stand out, whether it was offering a competitive price, flexible closing terms, or demonstrating our client's strong financial position.
Keeping our client informed about market trends and insights was essential. This helped manage expectations and make informed decisions quickly when the right opportunity arose.
Patience and perseverance are frequently needed to secure a dream house in a market with low inventory.We remained committed to our client's goal and continued the search until we found the perfect match.
When it came time to make an offer, we strategically positioned our client to make a compelling bid without overpaying. This involved analyzing comparable sales data and assessing the current market conditions.
Along the process, from the first search to the closing, we gave the client constant guidance and support. This made the transaction successful and seamless.
By combining these strategies and our expertise in navigating low inventory markets, we were able to secure our client their dream home, exceeding their expectations and delivering an exceptional real estate experience.
We are thrilled to invite you to a series of Open House events this weekend, where you can explore stunning homes in some of Indiana's most desirable neighborhoods. Whether you are looking for historic charm, modern amenities, or serene lakefront living, we have something special for you. Join us and discover the perfect home for you and your family. Here are the details of our Open Houses:
919 Broadway St Unit D, Indianapolis, IN 46202
Time: 12 PM - 3 PM
Hosted by: Jessica Montalvo | 317-912-3730
Own a piece of history with this stunning condo in the heart of Historic Chatham Arch Neighborhood. Built in 1890, this home seamlessly blends timeless elegance with contemporary city living. Positioned on a prized corner lot, you're just steps away from the new BottleWorks District and the vibrant atmosphere of Mass Avenue. Enjoy the variety of dining, shopping, and entertainment options right outside your door. This meticulously maintained home features beautiful hardwood floors, grand windows flooding the living room with natural light, and contemporary upgrades in the kitchen with stainless steel appliances and sleek granite countertops. Don't miss this exceptional condo in one of Indianapolis's most sought-after neighborhoods!
9049 W Forest Dr, Elwood, IN 46036
Time: 1 PM - 3 PM
Hosted by: Lori McCord | 317-258-9904
Welcome to the Forest Hills subdivision with no HOA and a private entry into the neighborhood. This beautiful home offers 4 bedrooms, 2 full bathrooms, a mud room, and a bonus room upstairs, with an additional living room in the basement. The property boasts hardwood floors, a great front porch, new windows, a water heater, a sewer pump, and a heated garage with A/C. With recent updates and a large yard, this home is perfect for families. The seller is providing an $800 flooring credit for the 2 bedrooms downstairs. Don't miss this opportunity!
1029 Pine Hill Way, Carmel, IN 46032
Time: 12 PM - 2 PM
Hosted by: Tony Sowers | 317-694-2940
Step into luxury with this immaculate 6-bedroom, 5.5-bath custom home in Cheswick Place. A grand 2-story entry welcomes you into a living room with soaring 14 ft ceilings, brand new hardwood floors, and a 2-sided fireplace. The updated kitchen is a chef's dream with ample prep space, a center island, and stainless steel appliances. The huge main level primary suite features a spa-like bath and walk-in closet. The lower level is perfect for entertaining with a home gym, theatre area, bar/kitchenette, storage, and an additional bedroom and full bathroom. Enjoy your private backyard with a large deck, fire pit, and plenty of green space. Recent improvements make this home truly move-in ready!
Discover this completely updated ranch home in the Center Grove school district. This home features a brand new roof, new engineered hardwood flooring, freshly painted interiors, and updated lighting fixtures. The kitchen boasts new cabinets, granite countertops, a new center island, and stainless steel appliances. The primary bathroom offers a glass walk-in shower with a luxury rainfall shower head. The nearly 1/2 acre yard is fully fenced with new landscaping and a newly painted storage shed. The garage is fully finished and freshly painted. Join us to see all the updates and enjoy the open house!
8360 S Indian Ridge Dr, Trafalgar, IN 46181
Time: 1 PM - 3 PM
Hosted by: The Rob Campbell Team
Rob Campbell | 317-695-1315 & Joyce Campbell | 317-691-4627
Experience lakefront living at its finest with this beautiful log home on Lamb Lake. With over 100 feet of lakefront, a boat dock, and spectacular views, this home offers the perfect blend of rustic charm and modern amenities. The main level features cozy hardwood peg flooring, a wood-burning fireplace, and an updated kitchen with quartz counters and new appliances. The primary bedroom opens to a private deck overlooking the lake. The walkout basement includes a second kitchen, bar, living room with a fireplace, and a bonus room. Enjoy the best of lake living with water-skiing, boating, fishing, and more, all just 30 minutes from Greenwood and 45 minutes from Indianapolis.
Don't miss your chance to find your dream home this weekend! For the latest updates and to be notified as soon as new homes hit the market, sign up on our website to receive your free list of exclusive property listings. We look forward to welcoming you at our Open House Extravaganza! See you there!
2024 Survey Confirms High Productivity of RE/MAX Agents and Teams
In a significant testament to their dedication and expertise, RE/MAX professionals have once again demonstrated exceptional performance in the real estate industry. The 2024 RealTrends Verified agent and team rankings highlight nearly 2,500 RE/MAX pros for their outstanding productivity based on home sales in 2023. Notably, our brokerage proudly celebrates the achievement of two of our stellar teams making it to this prestigious list.
The RealTrends Verified rankings, previously known as “America’s Best,” identify the top U.S.-based real estate agents and teams who have significantly exceeded national production norms. Out of nearly 22,000 qualified professionals, almost one of every eight is a RE/MAX affiliate, showcasing the broad impact and reach of RE/MAX in the real estate market.
To earn a spot on this list, individual agents needed to close at least $16 million in sales volume or 40 transaction sides in 2023. Teams qualified by achieving a minimum of $24 million in sales volume or 60 transaction sides.
RE/MAX Agents and Teams: Excellence in Action
Amy Lessinger, President of RE/MAX, lauds the continuous success of RE/MAX agents, attributing it to their commitment to high standards and professional excellence. “RE/MAX agents continue to succeed in part because of the high standards and values they set for themselves. They are committed to providing their clients with unparalleled service and expertise, and this recognition underscores that dedication to professional excellence,” she states.
Lessinger further emphasizes the local market knowledge and personalized solutions that RE/MAX agents bring to their clients. “RE/MAX agents understand their local markets and have the skills to offer personalized solutions and strategic advice to their clients,” she continues. “As these reports illustrate, RE/MAX affiliates are a great choice for buyers and sellers who value experience, productivity, and results.”
We are thrilled to congratulate two remarkable teams from our brokerage who have earned their place in the 2024 RealTrends Verified rankings:
These achievements reflect the hard work, dedication, and superior service that our teams provide to their clients. We are incredibly proud of their accomplishments and their contribution to the overall success of our brokerage.
As we celebrate these significant achievements, we remain committed to supporting our agents and teams in their pursuit of excellence. Congratulations once again to The Craftsman Group and The Indy Home Pros Team for their impressive rankings in the 2024 RealTrends Verified list. Here’s to continued success and many more milestones ahead!
8313 W. 10th St
Indianapolis IN 46234
dennis@indyhomepros.com
317-316-8224