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Knowing When You’re Ready to Buy
Homeownership is a lifestyle choice. Therefore, choosing homeownership isn’t a decision made overnight. The decision often takes careful planning for how the purchase of a home will fit into your life now and in the future. Additionally, the decision will take financial planning for how to pay for the home of your dreams. How will you know if you are ready? Follow along as we explain the fundamentals of preparing for homeownership so that you know when the time is right for you.
When renting…
When renting, you usually don’t have to worry about maintaining the property, making repairs, or remodeling the home. Are you ready to take on those responsibilities as a homeowner? If so, are you ready to be tied down to one place? Renting offers a bit of flexibility because leases are renewed on a regular basis allowing you ease of relocation. As a homeowner you’ll need to spend time and money selling or renting out your home before relocating.
As a renter you never gain any long term savings in the form of home equity. As a homeowner, the longer you are in the home the more equity you can expect to gain. You can get a better idea of why by the explanation in our article, Is It Better to Buy a Home or to Rent One?.
A couple of good questions to ask yourself if you are considering becoming a homeowner are:
If you needed to move in a couple years, would you feel comfortable renting out your home or selling it?
Could it potentially bring in a cash flow?
As a homeowner you are ultimately responsible for paying the mortgage. Are you financially stable enough to not default on your loan?
Most importantly, becoming a homeowner means putting down roots. Are you and your household emotionally ready to make that change and commitment?
If you answered yes to the above questions, you are on your way to homeownership. Let’s dig a little deeper to see if you are financially ready to take the leap:
Do you know how much home you can afford?
There are a lot of factors that play into knowing how much home you can afford. Of course, there is the price of the home, but you must also consider interest rates as they play a significant role in your monthly mortgage payment. For a good demonstration of the effect of interest rates on your monthly mortgage payments check out this article, Rising Mortgage Rates. Furthermore, what many first-time home buyers forget to consider in addition to the down payment and monthly mortgage payments are closing costs, moving expenses, inspection fees, property taxes, and homeowners’ insurance just to name a few. A great agent will connect you with a lender that will walk you through how these will affect your payment and if they pertain to your loan. Don’t have an agent? Connect with us here to get paired with the perfect agent for you. Identifying how much you can afford is not a task to do alone. You must connect with a lender. They will look at your financial position and get you pre-approved for a home.
Are you working to reduce your debt-to-income ratio?
Lenders know that it is not realistic to have no debt. Therefore, lenders are looking to see that you are making progress towards paying down your debt. Demonstrate your plan to get your debt paid off. Your lender can help you determine the best course of action so connect with them sooner rather than later.
Are you prepared for a downpayment?
Lenders recognize 20% down payments as a demonstration of financial stability. 20% down payments decrease the initial risk to the lender and benefits the buyer by not having to pay PMI when they put 20% down. You can read more about those benefits here. However, we know not everyone can afford 20% down, but everyone needs a place to live. Therefore, there are different programs and flexible options that make owning a home attainable even when you do not have funds for a 20% down payment. It is important to talk to your lender to determine which fits your unique needs.
Maybe you already got a pre-approval letter, but you aren’t satisfied with the limits. You have several options. Provide your agent and lender with a clear expectation of your wants and needs. If you aren’t exactly sure what you want, try reading 6 Reasons to Attend Open Houses to solidify your desires. You can use this form to help identify your wants and needs to share with your agent and lender. Once you have a clear list your lender can help create a financial plan to reach your desired goal. Your agent can simultaneously watch the market for homes meeting your criteria and help you understand the dynamics of the local market. Knowing the market can help you understand your purchasing power. Your agent can help you understand the difference between a buyers’ and sellers’ market and help you understand what to expect and how to leverage the market to your advantage.
If you are ready to buy or still unsure, you should begin talking to an agent. If you don’t already have an agent, you are in luck! We have incredible agents and connections with lenders who can guide you through your unique situation and help you know when you are ready to purchase a home. Connect with us here.
Sailing Whidbey
It is no wonder tourists and residents alike enjoy setting their sails and heading out to sea to enjoy our gorgeous Puget Sound waters. Whether by powerboat, sailboat, or even kayak, Whidbey is the perfect place to explore by water. Catch a glimpse of whales feeding in Saratoga Passage, seals cruising under Deception Pass, Eagles soaring past Ebey’s Landing, or if you are really lucky maybe you will catch sight of a magnificent pelican near Honeymoon Bay. It’s not a relaxing endeavor, with some of the world’s most complex currents, thousands of “islands”, and large river deltas to navigate, the Puget Sound requires lots of skill and knowledge to enjoy safely.
Check out the rest of Whidbey’s beautiful destinations from this series here.
Q2 2023 Gardner Report
If you are interested in discussing this in more detail with an agent connect with us here so we can schedule you an appointment.
Breathtaking Islands of the Pacific Northwest
Are you eager to explore the breathtaking islands of the Pacific Northwest? Look no further. Washington State’s coastal landscape boasts several stunning islands, each with its distinct charm and personality. From rugged cliffs and dramatic beaches to quaint towns and rolling hills, these islands offer a range of experiences for all travelers. Join us as we dive into what makes each of these islands unique and special.
San Juan Islands
The San Juan Islands are a group of islands located in the northwest corner of Washington, and they are simply stunning! The three largest of the San Juan Islands (San Juan, Orcas, and Lopez) are served by Washington State Ferries and provide most of the tourism, lodging and dining options. These destinations provide a diverse range of attractions and experiences that will leave a lasting impression on visitors. It is worth noting that these islands are particularly popular during the summer months, making them an ideal choice for those seeking a memorable vacation. Therefore, we highly recommend considering these islands for your next trip to the region. If you are a fan of outdoor adventure and scenic beauty, then you will love this place. The largest and most popular island in the group is San Juan Island, which is home to charming towns, breathtaking beaches, and rich history. You can spend your days kayaking, whale watching, hiking, or even visiting a lavender farm. Trust us, this place is nothing short of magical. You can access these islands from the ferry terminal in Anacortes.
Whidbey Island
Whidbey Island is one of the largest islands in the state, and it is a real hidden gem. This island is known for its quaint towns, rolling hills, and breathtaking scenery. If you love hiking, biking, and kayaking, then Whidbey Island is the place for you. One of the must-visit attractions on the island is Deception Pass State Park, which features soaring cliffs, breathtaking beaches, and a bridge that connects Whidbey Island to Fidalgo Island. You will want to take many photos here because the views are simply stunning! Traveling south, be sure to visit Fort Casey Historical State Park, where history comes to life. Explore the grounds and see the historic lighthouse and gun battery that once guarded the island’s shores. The charming coastal towns of Oak Harbor, Coupeville, and Langley should be high priority destinations on your Whidbey Island adventure. Stroll through the boutiques, cafes, and galleries and immerse yourself in the unique culture of this beautiful island. Whidbey Island is an unforgettable destination that offers something for everyone. Come explore this Pacific Northwest paradise and create memories that will last a lifetime!
Bainbridge Island
Bainbridge Island is located just a short ferry ride from Seattle, and it is the perfect getaway for city dwellers. This charming island is known for its small-town atmosphere, stunning beaches, and incredible outdoor recreation opportunities. Whether you want to hike, bike, kayak, or just enjoy a relaxing day at the beach, Bainbridge Island has something for everyone. One of the highlights of the island is the Bainbridge Island Museum of Art, which features rotating exhibitions of local and international artists, as well as a permanent collection of works by artists who have lived and worked on the island.
Thank you for reading this guide to some of the amazing islands in Washington State. We hope it has inspired you to plan your next adventure to the PNW. With so many islands to explore, there is something for everyone. Get out there and explore the Islands of Washington State – you won’t regret it. If you decide to stay, connect with us so we can help make your dream come true.
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Bowman Bay/Rosario Beach Trail
Boating Around Whidbey
It has been well over 200 years since the waters around Whidbey saw its first sailboat with the explorers of the late 18th century. Just like Captain Vancouver in 1792 people still have the urge to explore this amazing inland waterway from the deck of a boat. Strong currents encourage many to forego sailing in favor of motoring quickly from point A to B. Others like the challenge and quieter method of utilizing the plentiful wind-power. Whichever way floats your boat make sure you get out on the water before the season is over!
Check out the rest of Whidbey’s beautiful destinations from this series here.
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15 Ways to Use Mason Jars in your Home
Mason jars have become a popular staple in home décor and party planning. These versatile glass containers can be transformed into just about anything you can imagine, making them perfect for both practical and aesthetic purposes.
Here are fifteen creative ways to use mason jars to decorate your home or party:
- Flower Vases: Mason jars make great vases for fresh flowers or even silk flowers. They can be painted, wrapped with twine or lace, or left plain to create a rustic or vintage look.
- Candle Holders: Create a cozy atmosphere by turning mason jars into candle holders. You can use scented or unscented candles and place them inside jars for a soft, flickering glow.
- Centerpieces: Mason jars can be used as centerpieces for any occasion. Fill them with flowers, colored sand, or even small trinkets to create a unique and eye-catching display.
- Drinking Glasses: Mason jars are perfect for serving drinks at parties or even for everyday use. They can be decorated with paint or stickers to match your decor and add a personal touch.
- Snack Containers: Mason jars make great containers for snacks, especially for outdoor parties or picnics. Fill them with popcorn, candy, or other small treats and label them with cute chalkboard labels.
- Planters: Mason jars can be transformed into mini planters for succulents or herbs. Hang them from a wall or place them on a windowsill for a pop of greenery.
- Utensil Holders: Use mason jars to hold utensils at your next party or BBQ. Fill them with forks, knives, and spoons and decorate them with colorful ribbon or twine.
- Gift Containers: Mason jars make great gift containers for homemade treats like jam, cookies, or even bath salts. Wrap them with a bow or ribbon for a personalized touch.
- Photo Frames: Create a unique photo display by using mason jars as frames. Place your favorite photos inside the jars and hang them from a wall or display them on a shelf.
- Party Favors: Fill mason jars with small party favors like candy, stickers, or small toys. Decorate them with colorful ribbon or washi tape and give them out to guests as they leave your party.
- Spice rack: After growing your own herbs and spices in the garden use your mason jars to organize them in the kitchen.
- Lunches to go: Mason jars make the perfect container for lunches to go. Some of our favorites are quinoa, chicken rice bowls, and parfaits.
- Office organization: These containers make the perfect holders for paper clips, push pins, and staples. even better when you must grab them to go because the lid keeps them nice and tidy!
- Coin collecting: Cut a slit in the top of your jar and slip your extra coins in. Did you know saving like this can help you kickstart larger savings in the future?
- The obvious canning: one of our favorites is picking berries from a local farm then making our own jellies and jams. Mason jars are the perfect way to keep them fresh for an extended period.
As you can see, there are many creative ways to use Mason jars to decorate your home or party. These versatile containers are not only practical, but they also add a touch of charm and personality to any space. So the next time you come across a mason jar, think outside the box and see what creative ideas you can come up with! Do you have a creative way of using mason jars in your home? We would love to know! Share with us here. Thinking about buying or selling a home? Connect with us here.
Ferry Views
Most people think about coming TO Whidbey Island but when you live here and need to leave the island the same options are open to you. Take a ferry or the bridge. When traveling by ferry you will be graced with stunning views of the incredible snowcapped mountain ranges surrounding our gorgeous little island. Travelers from afar visit Whidbey to stay in places like the magical Captain Whidbey Inn in Coupeville for a winter wonder getaway. Whidbey residents, however, catch the early ferry to head to one of several nearby ski resorts to carve it up on the slopes.
Photographer: Randy Heiserman
For more stunning images of Whidbey Island: Click Here.
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5 Reasons to Use a Local Lender
When it comes to buying a home, choosing the right lender is an important decision that can have a significant impact on your home buying experience. While it’s possible to work with a lender from anywhere, working with a reputable local lender in the area you are purchasing provides many benefits that make the process smoother and more enjoyable. In this article, we will share five reasons why you should consider using a reputable local lender for your next home purchase.
5 Reasons to Use a Reputable Local Lender:
1. Personal Connection:
A local lender provides the opportunity to have a face to face conversation and build a personal relationship, which can be especially helpful when dealing with complex issues. How much better is it to have the ability to sit down face to face with someone and discuss, ask questions, smile and laugh with or even cry if necessary? It is so much better than trying to solely do things over the phone or email with someone hundreds of miles away. When the going gets tough, you (or your trusted real estate broker) can go directly to the office and discuss the issues in person to figure it out rather than be put on hold.
2. Knowledge of the Market:
A local lender is more likely to have a deep understanding of the local real estate market, including contractors, permit requirements, and more. It is not unheard of to have a local lender provide contact details for a roofer that can get the fix done in time for closing or the local Labor and Industries permit guy who can solve the problem faster than driving an hour to the nearest office. Reputable local lenders understand when there is delay due to septic repairs or how to get the water quality test results ASAP.
3. Reputation:
Local lenders have a reputation to uphold in their community, which can provide added accountability and ensure a higher level of service. When you run into your clients in the grocery store or watch their kids play on the same soccer team you naturally put a little more into making sure your service is impeccable. Anonymity creates distance and reduces accountability.
4. Strong Relationships with Escrow Teams:
Good relationships with local escrow teams can lead to smoother and more efficient transactions. Often the most stressful point of the transaction is right at the very end as the final underwriter is reviewing the file and potentially finding issues that need more documentation. This can lead to delays in critical milestones that need to be met to close on time. Getting the necessary documents from the lender to escrow on time can be the difference in closing as expected or experiencing costly delays and even the possibility of losing the home. You can use a lender from almost anywhere, but the escrow team is nearly always local to the property being purchased. When lenders are well known and respected by the local escrow offices you can expect excellent communication and problem solving between them. This will make overcoming obstacles to closing on time more likely.
5. Competitive Terms:
Local lenders often offer competitive terms and rates, making them a cost-effective option. When comparing lenders, be sure to compare all the terms and costs of the loan, not simply the advertised interest rate. When you do, you’ll often find the local lender has lower overall costs than national corporate lenders.
In conclusion, using a reputable local lender provides a range of benefits that make the home buying process more enjoyable and efficient. From the personal connection to the knowledge of the local market and their reputation to uphold, there are many reasons to consider using a local lender for your next home purchase. So why not choose a lender who is well-known and highly regarded in your local real estate community? Contact us today to be put in touch with a great lender on Whidbey Island!
Moving to the PNW: Embracing the Beauty and Adventure of the Region
The Pacific Northwest is a beautiful and dynamic region, encompassing the states of Washington, Oregon, and Idaho. From stunning coastlines to towering mountains, lush forests to rolling hills, this area offers a unique blend of natural beauty and urban sophistication. If you’re considering a move to the Pacific Northwest, you’re in for an unforgettable adventure.
Why Move to the Pacific Northwest?
There are many reasons why people are drawn to the Pacific Northwest, including:
- Natural Beauty: The Pacific Northwest is known for its stunning natural beauty, from the rugged coastline of Washington and Oregon to the towering peaks of the Cascade Mountains. This region is home to a diverse array of landscapes, from the fertile Willamette Valley to the rolling hills of the Palouse.
- Adventure: Whether you’re an outdoor enthusiast or a city dweller, the Pacific Northwest has something for everyone. Hike, bike, kayak, ski, or snowboard your way through the great outdoors, or enjoy the cultural offerings of cities like Seattle, Portland, and Boise.
- Quality of Life: People in the Pacific Northwest are known for their love of life, and it shows in the region’s thriving arts, food, and beer scenes. With a focus on sustainability and community, the Pacific Northwest is a great place to call home.
- Growing Job Market: The Pacific Northwest is home to some of the country’s fastest-growing cities, including Seattle and Portland, making it an attractive destination for job seekers. From tech to retail, the region offers a range of career opportunities.
How to Make the Move to the Pacific Northwest
If you’re ready to make the move to the Pacific Northwest, here are a few steps to get you started:
- Research: Start by researching the cities and regions that interest you, exploring the cost of living, job opportunities, and quality of life.
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Find a trustworthy real estate agent: to assist you in the area(s) you are considering. They will be able to answer all sorts of questions about the specific area you are interested in, and will help you find a home when you are ready to take that step.
- Visit: Schedule a trip to the Pacific Northwest to get a feel for the area, meet potential neighbors, and explore neighborhoods.
- Plan: Consider factors such as schools, transportation, and proximity to family and friends when choosing your new home.
- Hire a Moving Company: Find a reliable moving company to help you with the logistics of your move, so you can focus on settling into your new home.
Embrace the Adventure of the Pacific Northwest
The Pacific Northwest is a unique and dynamic region, offering a combination of natural beauty, adventure, and quality of life. Whether you’re looking for a new job, a change of pace, or a chance to explore the great outdoors, the Pacific Northwest has something for everyone. So why wait? Start planning your move today, and embrace the adventure of the Pacific Northwest!
If you are considering a move to the PNW connect with us, our agents here at Windermere Whidbey Island can help you find a trustworthy agent in any area of Pacific Northwest. Call us at 360.675.5953 to connect today.
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