Author: Emily Gregory

Money is a touchy subject in many households. Getting married will certainly affect you and your partner financially. Whether you decide to combine your finances or not, having open and honest conversations about money early on is crucial. Studies have shown that 1 out of 3 adults admit that money is the source of conflict in their marriage, making money one of the leading causes of divorce. This doesn’t have to be the case! Taking the appropriate steps before walking down the aisle can save a lot of hardships in the future. Here are 4 financial topics to discuss with your partner:

Income

Discussing income is a great place to start financial planning together. Your salaries may look different and come in different forms. Whether hourly, salary, or commission-based, discuss the details and share any expectations you may have for future bonuses or raises. When income from both sides is laid out it is easier to see what you will be working with each month.

Debt

Revealing debts can be awkward and sometimes shameful for some people. Whether you’ve gotten yourself into credit card debt or maybe you have student loans, don’t keep it from your partner. Keeping debts hidden will only result in future issues. Laying it out in the open also allows for collaboration. You and your partner can now work on a plan together to alleviate unwanted debts instead of just one of you carrying the burden.

Bank Accounts

Each of you may have multiple bank accounts used for multiple purposes. Whether you decide to combine your finances or not, revealing your bank accounts to each other leaves less room for secrets. Some couples choose to keep financing separate but have one joint account for household expenses and savings which could be a good compromise if there is a difference of opinions. Will you each split bills equally? Will each contribute a certain percentage of their income? Will everything go into one account and money pulled out as needed? These are important questions to ask. Discuss your expectations with each other and work on finding the best situation for your needs.

Budget

Budgeting is probably one of the most difficult aspects of financial harmony. Each person’s priorities and spending habits could greatly differ making it hard to find a good balance. Start by laying out all of your necessary bills for each month, i.e. mortgage payment, utilities, Wi-Fi, groceries, etc.  Once these are established, look at the remaining income for the month and determine the amounts that can be allowed for entertainment. This will look different for everyone, maybe you like to eat out at restaurants multiple times a month or maybe your partner has a gym membership to upkeep, whatever your lifestyle entails write it down and budget for it. The more detailed you can be the better. Don’t forget to budget for savings and emergency expenses as well!

 

Financial planning as a couple doesn’t have to be stressful or difficult. Use each other’s strengths and weaknesses to develop a system that works best for your household. If buying a home together is the next step in your relationship, reach out to us today to learn more and get started! For more resources, visit www.firsthome.com/resources.

The August heat has rolled in, and autumn is waiting just around the corner. That said, there’s still plenty of time left to enjoy your summer in your yard and garden!

1. Bring on the Shade

Rising temperatures and heat index in the month of August make shady spaces more important than ever. If you have large enough trees, set your conversation areas up beneath the boughs to take advantage of the natural shade. Patio and deck umbrellas, canopies, and even pop-up shady beach tents are quick ways to add some man-made shade in other areas of your yard and garden.

 

2. Stay Cool and Hydrated

In hot temperatures, water works wonders inside and out! We don’t all own swimming pools, but fortunately there are plenty of other great options. Large mist fans, or even handheld misters, can really cut the heat and help your friends and family feel comfortable. Baby pools can be a safe spot for children to play in or they can serve as a cool place for adults to rest their feet. Sprinklers are a fun option that can do double-duty with watering flower beds. Don’t forget to hydrate yourself as well! Providing lots of cold water and beverages for you and your guests to sip on is a sure way to beat the heat.

 

3. Be an Early Bird

Rise and shine to your outdoor space with coffee or tea before things really warm up for the day. A comfortable outdoor chair or small bistro set up is all you need! Speaking of birds, bird feeders and hummingbird feeders can lure lovely little friends to your yard, so you can watch them while you sip. Identifying bird types and their sounds can be a fun learning activity for friends and family to enjoy together, and all the information can be found right on your smart phone.

 

4. Make Magical Evenings Outdoors

When your days are busy or it’s just TOO hot, long summer evenings can be your best bet for enjoying outdoor time. Take advantage of the cooler weather and lingering light to dine alfresco, listen to music, or just to watch the fireflies. This is a time when lighting can really play a grand role in your outdoor space. String lights, solar garden lights, and soft solar lamps are a quick and easy way to make a statement and add warmth and charm. Citronella candles or a safe bug spray can help keep pests from becoming unwanted guests while you relax.

 

5. Get in Some Gardening

Autumn is an important time of year to tend to your garden! Gardening experts suggest swapping out faded annuals for new annuals that do well in the cooler fall weather. August is also a great time to plant perennials, so that they can take root in the upcoming cooler weather and be ready to burst forth next spring. Some good options to plant at the end of summer include hydrangeas, daylilies, lilies, sedums, ornamental grasses, peonies, and bearded iris. This month is also an important time to tackle weeds, so that they can’t germinate new seedlings, and mulch your garden so your plants are protected through fall and winter.

With these simple tips, you’ll be sure to enjoy your yard and garden at the end of summer and be ready to sail into fall.

 

If you or someone you know are looking to purchase or refinance a home, please reach out to one of our experienced Loan Officers today!

Buying a home can be a daunting task but buying in a different state can bring a higher level of stress and more of the unknown. We have compiled a list of tips and tricks to help make your buying and moving processes as seamless as possible.

Make Sure You Do Your Research on Real Estate Agents

When you’re buying out of state, you might not be able to go see every property in person. This means you will need to rely more heavily on your agent to be your eyes and ears. If you’re moving to an area where you may already have friends or family, reach out to them for recommendations. If you don’t have anyone to recommend an agent to you, take a look at the top agent lists from the area. This will give you a good idea of who the people in the area already trust with their business. Check out how long they’ve been in business, the areas they specialize in, and, of course, client reviews!

Be Aware of Scammers

Buying out of state will unfortunately open you to being more likely taken advantage of or scammed. A common scam involves the scammer creating a fake listing using real or stolen photos of a property. The goal is for the listing to be too good to be true, encouraging you to reach out and send them money or begin bidding on the home. It is vital to pay close attention to listings and make sure they are listed by reputable agencies or by the actual homeowner.

Don’t Be Afraid to Ask Stupid Questions

Real estate law and best practices vary from state to state. Doing your own research is a good place to start but never be afraid to ask your agent further questions. Buying a home is a big investment and while it can be a very exciting time in your life, you want to make sure you cover all your bases and are fully aware of the requirements each state may have.

Try to Be Present for the Inspection

The inspection is an important part of the home buying process. If it’s possible for you to travel during the process, this would be the time. The inspection will lay out any present or potential issues your home has. Inspectors will take photos for reference but being there in person can give you a better idea of what you’re moving into and as an added plus, inspectors will usually take the time to show you basic home maintenance while doing their inspection.

If you’re looking to buy, check out our website to find a complete list of states we are licensed in and reach out to a Loan Officer today!

Selling your home may be something you’ve been considering for a while or maybe an event has occurred that has prompted you to sell. Either way, listing your home is a big decision and if you’re wondering if now is a good time, take a look at these signs and decide for yourself.

It’s a Seller’s Market

This may be an obvious reason in today’s market but being in a seller’s market means you could stand to make a nice profit on your home. Pay attention to what other homes in your neighborhood are going for and see if the price of square footage is increasing. This could be a good indicator of what your home could go for. Getting in contact with a good real estate agent that can help guide you and assist you in getting a good deal is also an important step!

You’ve Outgrown Your Home

A common reason for moving is simply that your home no longer provides the space you need. Whether your family is growing, or you need more storage, selling may be the only solution. These situations can cause you unwanted stress so listing sooner rather than later might be best for you!

You Have Equity in Your Home

A good reminder here is that selling your home is not free, however the equity that has accrued since purchasing your home will be useful when selling.  There are closing costs, agent fees, and of course, the down payment on the purchase of your next home. If you’ve only been in your home for a few years, chances are good you haven’t built up equity beyond the down payment. Unless there is an immediate need to move, staying in your home for at least 5 years could allow for more equity to accrue before selling.

Your Life Circumstances Have Shifted

Inheriting a property, divorce, death, and needing to relocate are all potential life events that can place you in a position to sell as soon as possible. These sudden life changes can put pressure on you but it’s important to still take the time to research your local market and the area you plan to move to before jumping in.

For more information or resources, reach out to one of our qualified Loan Officers today!