Price, Shmice. Why looking for a 'good deal' isn't always the best way to buy a house.

When buying a house, price is always a factor.  Always.  But at what cost will you chase 'the good deal' in lieu of finding the perfect home?

Sometimes price isn't king for many home buyers.  Not to say that you should throw money at the first house you love.  However, when shopping for a house, it's never a good idea to rule out a home that you might love simply because there is another house with a better price.

"A house affects so much of your life," said Will Lipovsky with First Quarter Finance. "Living in a beautiful house improves my mood quite a lot.  Excellent location, fine craftsmanship, and plenty of space...it's worth spending a few extra dollars in my opinion."

Affordability

I will certainly never suggest living outside your means, or committing to a mortgage on a house twice your budget.  But upping your budget to cater to better location, better amenities that cater to your lifestyle, bigger floorplan to grow into can make a huge difference without causing financial ruin.


Consider this:

Principal and interest (P&I) on a $200,000 house at four percent is $954.83 per month. Raise that budget to $250,000, and the P&I goes to $1,193.54. Will that $50,000 make the difference between a starter home and a dream home? Maybe not. But in a first-time buyer market, it can greatly improve the location, the space, or both, and all for $238 a month.

P&I on a $400,000 house at four percent is $1909.66. Opt to buy a $500,000 house instead, and you'll pay $2,387.08 per month. The $477 increase in your monthly payment can make a world of difference in the house you buy, and how you feel about it.

The term 'house poor' sounds awful, because it is!  You certainly don't want to over buy, and you certainly still want to make a solid financial choice that will allow you to eat more than cereal and ramen noodles everyday.  But in this instance, isn't a home that you can be happy in and excited about, worth forgoing a Starbucks run a couple times a week, or brown bagging it to work, rather than hitting the drive thru?

There are many ways to find extra dollars to go toward your home.  Here are some options that can make an impact.

Eating Out.
A night out in a restaurant is no longer a novelty.  "Sales at restaurants overtook spending at grocery stores...for the first time ever, according to Commerce Department data released [in April 2014] for the first time since 1992," as reported by Bloomberg Business.


What does that translate to?  More than $6,000 a person for the average American. For many home buyers in the Jacksonville area, $12,000 is their annual mortgage expense.  Dinner out with your spouse could equal owning your home.

According to Forbes, "Americans go out for lunch on average twice a week and spend $10 each time. That means they're spending $936 annually." Between two adults, you just found almost $2,000 a year just by bringing your lunch. Will that buy you the estate with the view? Nah. But it'll get you closer to owning a home, which is the first step to financial freedom and wealth.

Check Out Your Ride.
Are you driving the latest model with all the bells and whistles?  If the answer is yes, you're likely paying close to $700 every month for your vehicle.  Which could translate to a monthly payment on a home priced around $120,000, depending on loan type and fees.  You don't need to necessarily get rid of your ride.  You could possibly trade it in for the next lower model type, or perhaps negotiate a lower interest rate on the payments if you've been current and on time.  Or, even, go with a hybrid.  There's a couple hundred dollars a month in gas, saved!

Declutter and Downsize.
Antique furniture sitting in the corner of the garage, old electronics collecting dust in the attic, and old handbags you're never going to use again can make you money. Check sites like Huffington Post and Country Living to get an idea of the worth of things like antiques and collectibles. Other things might be eBay worthy. Mashable has a list of the "9 Valuable Things You Didn't Know Are Lying Around Your House." (Pokemon cards? Really?)

Crowdsource It.

Have a birthday, wedding, or anniversary coming up? Let your loved ones contribute to your down payment.
Need more ideas? The Simple Dollar has 100 - yes, 100 - more ways you can cut back and save money. Soon, that dream house will be right around the corner!
 

What's going on in Jacksonville?

This weekend, May 2nd-May 3rd, you can hop over to the Jacksonville Commons and take part in the Jacksonville Jamboree.  The jamboree started as a basketball tournament and has grown to include rides, vendors, musical talents, and plenty of food for everyone.  It's shaping up to be a beautiful weekend, which is perfect to walk around and see what the Jacksonville Jamboree has to offer!

Spring has sprung in Jacksonville!!in this summer!  Jumping into May, residents of Jacksonville and the surrounding areas can take part in everything from the Jacksonville Jamboree to the Pirate Fest and Strawberry Festival!

 

If the Jamboree doesn't strike your fancy, suit up and go play with pirates at the Pirate Fest in Swansboro, 'The Friendly City By The Sea.'  Bring 'yer mateys down for a black powder demonstration and a treasure hunt!! 


Next weekend the Strawberry Festival in Wallace kicks off with the 5K, Golf Classic, and strawberries of course!  

 
After the Strawberry Festival, how about camping out?  Onslow Pines Park in Jacksonville is hosting "Park After Dark!"  You can set up your own campsite, take part in a scavenger hunt, and watch movies in the park!

Onslow County Parks and Recreation is planning a plethora of events and fun things to do in and around Jacksonville this summer.  Keep an eye out and start planning your fun weekends!!  Please share any other events that are upcoming and pass this along to others to find what's going on in Jacksonville.

 

311 Exmoor Drive, Jacksonville, North Carolina 28540. SOLD in 65 Days! Call Amanda Parmer for more details! 910.707.4636

311 Exmoor Drive, Jacksonville, North Carolina has sold in under 65 days!  This gorgeous four bedroom, three bathroom home has been immaculately kept and updated.  

Tons of storage and closet space, a private home site, and updates throughout make this home truly inviting and a lucky home buyer was able to take advantage of the great buyers market Jacksonville is currently in by purchasing this home!  To check out other homes for sale in the area, check out our website!  It's updated daily with all the homes on the market!

View a tour of this home here!  There are more homes for sale in this neighborhood, which is minutes away from Meadowview Elementary School and all the new shopping in Jacksonville, North Carolina.  Shetland Farms offers roomy homesites that are semi-private and allows residents to enjoy the established community that is close to everything Jacksonville has to offer.  

With only three showings, 311 Exmoor Drive, Jacksonville, North Carolina went under contract.  If you're interested in selling your home in the Jacksonville area, please give me a call so we can help!  I'd love to discuss how the real estate market is doing in the area, and how it effects your home's value and selling.  You can also check out this super helpful post about what sellers in the area NEED to know!

Walmart in Richlands, NC! Coming Soon!

For everyone in the western part of Onslow County who have been waiting with bated breath, Walmart in Richlands, NC really is coming soon!  In fact, they've all ready begun the hiring process!  

The Richlands Walmart is planned to have a full market section, as well as normal shopping items, optometry, banking accessibility, and a gas station.  Of course, with the opening of this giant center of commerce in our small, but mighty, town of Richlands, will also bring over 300 jobs!  According to Fortune's recently published article, Walmart is raising their pay scale to above minimum wage and introducing an initiative to help veterans, which will be heartily received in our veteran saturated area!

Many homeowners in the Richlands area will be happy about the increased traffic and commerce that Walmart will bring.  In fact, Walmart employees from other areas have all ready begun looking at real estate in our area.  

Typically, from what I've seen, whenever Walmart moves into an area, so do other stores and shops.  Which can only mean one thing- more growth!  Commercial growth always instigates residential growth.  Many of the 'big builders' have all ready moved their business out of Onslow County completely, and others are shifting their building in different directions.  The continued growth of Richlands, coupled with the slow down of new construction is a strong indicator that residential real estate in Richlands will begin to creep up and stabilize.  


With more jobs coming into the area, and more commerce, the housing market will eventually rebound.  Right now there are tons of great homes on the market in Richlands and interest rates are still relatively low, creating a great opportunity for home buyers who may be thinking of purchasing in the area.  Ever heard the term, "Buy low, sell high?"  This appears to be that opportunity.  Before Walmart is established in Richlands and the market is able to correct itself or skyrocket, buy homes in the Richlands area now.  Sell in the next few years when values are up.

Keep your eyes peeled, when driving down Hwy 24 in Richlands.  You'll see the great big building under construction that can only be a Walmart!  If you have any questions or would like more information, give me a call!  I'd love to chat about the growth and expansion in the Richlands area, and most especially, homes!  

2628 Idlebrook Circle, Jacksonville FOR SALE! Minutes to the gate, schools and shopping!

Did you hear?  2628 Idlebrook Circle is on the market, and it's move in ready!

This home has had lots of updates, and you really need to see it to believe it.  Homeowners in this neighborhood are only minutes to the Piney Green gate of Camp Lejeune and will be minutes from the new Walmart Neighborhood Market that's currently being built on Piney Green!

2628 Idlebrook Circle is a three bedroom, two bathroom home with a fenced yard and a shed.  The roomy living room has vaulted ceilings and flows easily into the dining room and kitchen.  Each bedroom is spacious and the owner's suite features double closets and a personal bathroom!
If you're looking for well maintained, tastefully updated, and move in ready, then 2628 Idlebrook Circle is the house for you.  Priced to sell, this home is more affordable than renting!

For more information on this home, or others like it in the area, please call us!  910.707.4636.  For a list of homes like 2628 Idlebrook Circle or other homes in the area, click here.

Best Homes In Jacksonville for $100,000 or less!

It's true!  You can own a home in Jacksonville, NC for $100,000 or less.  Many of these homes are move in ready, three bedrooms, two bathrooms, and convenient to everything Jacksonville has to offer!

469 Hunting Green Drive is a PERFECT example and has been recently renovated and updated to offer a "LIKE NEW" home!  The roof, windows, heat pump, flooring, kitchen, appliances, and more have all been remodeled and replaced.

The benefits of purchasing this existing home that's been remodeled vice a new construction home are many, such as:

• Established community
• Tax Value is less than new construction, resulting in a lower monthly payment and lower insurance
• Included features all ready installed:  blinds, established yard, fence, warm neutral paint included, wood burning fireplace instead of propane, ceiling fans installed
• 10'x10' tiled sunroom with attached patio

469 Hunting Green Drive is just one of many homes on the market in Jacksonville, NC for $100,000 or less.  If you have been thinking of home ownership, now is the perfect opportunity while interest rates are still low and homes like these offer low monthly payments!  Call us or check out our website to discuss your options!

2015 BAH Rates in Jacksonville, NC

Here we are, at the end of 2014, and the question on everybody's minds is, "What's my BAH going to be in 2015??"

Well, good news, BAH rates have increased for 2015 across the board!  Some by as much as $40, some as much as $115!  And, by the way, BAH is the acronym most military personnel have become accustomed to using which simply stands for Basic Allowance for Housing. 

Military members who are assigned to a permanent duty station within the 50 United States, and are not furnished with government housing (whether due to availability or by choice) are eligible for BAH, based on rank, dependency status and permanent duty station zip code.  Some units have local rules about eligibility as well.
Another fun fact, BAH is tax free income.  Which means, for instance if your pay grade is E-4 or below and you're stationed aboard Camp Lejeune in 2015, you can receive $948 a month (unless you have dependents, then it's more!) to cover the cost of rent, tax free.  Sometimes you may incur out of pocket expenses if your bills are more than your allowance.  Budgeting can help alleviate that though!
So now, you're planning to live "out in town" or "off base" and you're receiving $948 every month (or  $11,376 a year!) to cover your living expenses.  What if you used this TAX FREE money to purchase a home, instead of renting?  Let's face it, you're going to be paying someone's mortgage, whether you're renting or buying, right?  So what would it look like, if you allowed the military to purchase your house for you?  It's the same amount of money every month, except by purchasing, you're making your money work for you by investing it in your own home.  With the current interest rates (as of today, December 22, 2014,) $948 a month will afford you about a $145,000 home, depending on taxes and insurance.

The reason I suggest this course of action, is mostly because I've done it, and I was able to invest, re-invest, and earn passive income (that's money I get every month without working, because someone is paying me to live in one of my houses!) ten years later, simply by buying a house using my BAH.  (True Story!!)

If this sounds like a sales pitch, I apologize.  It isn't.  It's only a word to the wise.  I have seen too many young service members in the last 15 years blow their money and have nothing to show for it by the time they're 30 years old.  And I want to help educate and help prepare for the future.  
If you are not living in the barracks or in base housing, you are getting at least $11,000 a year for living expenses.  Use it wisely or pay someone to live in their house.  
The choice is yours!
We'd love to help you, whether you decide to rent or buy and you can check out available homes here!  Give us a call for a free consultation to explore your options and talk about the home buying process, the Jacksonville real estate market, or investing in real estate!  910.545.0450  Click here to see the new BAH Rates for 2015!

**Just an update- had some questions about who will be receiving an increase in BAH and some discussion about certain service members not because of time in service.  According to this DOD bulletin, the BAH change is across the board.  Obviously the amount is dependent on location, rank, and whether the service member has dependents or not.