Going Solo: 5 Steps to Buying a Home on Your Own

The home-buying experience often portrayed in advertising generally seems to focus on couples and families. But these days, only 40 percent of first-time home buyers are married, down from 52 percent in the late '80s, according to Zillow research.

The process of purchasing a home for a sole owner may be fairly similar to that of anyone else, but there are a few slight differences in how a single buyer might approach the home-buying experience.

Here are five ways to make your solo house hunt a success.

Find your agent

Don't choose the first real estate agent you find in an online search. Try posting a query on social media to get insights from your friends and family, and search for agents in your area, taking plenty of time to read reviews. Look for positive agent reviews that may comment on purchasing alone versus as a couple.

Once you find a few agent options, meet with each of them. You'll want to ask plenty of questions - don't let them do all the talking.

Read up on your resources

So you've met with multiple agents and found the one for you. Great! But having a wonderful real estate agent doesn't mean you don't need to read up on your own.

Don't rely on your agent to explain every detail of the process. They probably will, and should, but it's your job to be an informed buyer. Head to the library or check out online resources to find out your rights as a buyer and learn about home-buying programs.

When you’re deciding how much home you can afford, consider all recurring expenses that come with owning a home. Think beyond mortgage payments and closing costs - include expenses such as home maintenance and repairs.

And if you're nervous about being turned down for a loan because you're buying on your own, try not to be. While qualifying for a loan on one income may mean you purchase a smaller home, it doesn't mean you can't buy. In fact, banks are not allowed to discriminate against potential home buyers based on marital status.

Singles buying a home on one income should consider an FHA loan, as borrowers with good credit can qualify for a small down payment.

Choose the right home type for you

Are you looking for something to grow into? Or do you want a small starter home you can rent out in the future? Whatever your current and future home needs are, know that you have options regarding the type of home you purchase.

Buying a condo or townhouse may leave you with a lower mortgage, but don't forget about possible homeowners association dues and storage fees. And while a smaller place means less to maintain for one person, regular maintenance is still a homeowner must.

House hunt with confidence

Pursuing homeownership on your own doesn't mean you have to decide everything solo. Bring one or two of your close friends who have recently purchased a home and who you know can offer honest feedback.

If you plan to move to the suburbs to get more house for your buck, consider if you'd really be happy living away from your favorite downtown spots. Try commuting to and from your potential home from work, your friends' homes, and your favorite shops and restaurants. If you discover it's a tad too far for comfort, narrow your home search.

Once you find a few neighborhoods you love, look at the crime data. There are plenty of online tools that can help you check the safety of a neighborhood. And as you scope out houses and communities, take note of enclosed backyards and security gates. Because there may not be someone home during hours you're typically away, you'll want to be mindful of security precautions during your house hunt.

Make an informed offer

If you're buying as a singleton, you may not have someone by your side to help you figure out what to offer or how to negotiate. This is where finding the best real estate agent for you will serve you well. Talk to your agent about how your offer may stack up against recent sales in the area, as well as the possible concessions you can get from the sellers.

Whether you've just started considering purchasing your first home or you're newly single and buying on your own for the first time, these five steps will ensure you're a smart and savvy solo buyer, and help you land a home of your own.

Related:

• 5 Steps to Ease Home-Buying Anxiety
• First-Time Home Buyer’s Guide to Making an Offer
• 5 Mortgage Misconceptions Set Straight

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/buying-a-home-on-your-own-192824/
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Jackie Collins' Sizzlin' Beverly Hills Mansion Lists for $30M

This is where the magic happened - at least in blockbuster author Jackie Collins’ head.

For more than two decades, the late conjurer of more than two dozen steamy romances lived on this Beverly Hills estate, which her family has listed for $30 million with Susan Smith of Hilton & Hyland.

Collins, who had a flare for sex scenes and leopard prints, designed every detail of the nearly 22,000-square-foot home, and it’s easy to picture her lounging here with a black felt-tip pen in hand.

The modern mansion makes a bold first impression with a two-story gallery foyer, abundant skylights and a sweeping staircase.

A spacious living room continues the art-gallery vibe with built-in shelves, marble floors and ambient lights embedded in the double-crown moldings.

A 100-foot gallery connects the main home to a guest suite, offices, a screening room and a gym plus sauna. Collins told The Wall Street Journal she did most of her writing in a study off her bedroom and one off the gym.

The mansion boasts 8 bedrooms and 15 bathrooms, many with views of palm trees and the Hollywood Hills. One bathroom features shelves bearing more art objects, plus a dressing mirror with Hollywood lights fit for a literary diva.

Photos by Berlyn Photography

Related:

• Oprah Drops $28.85M on Coastal California Horse Farm
• Chris Hemsworth Trades Malibu for Oz, Leaving a $6.5M Listing in His Dust
• Mike Tyson Bites Off Another Mansion on His Vegas Street

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/jackie-collins-lists-beverly-hills-192764/
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3 Signs You Shouldn't Put Your Home On the Market Yet

Many sellers think they’re ready to sell, but scratch the surface and you may find fear, anxiety, or undue pressure to make a move. Since typical real estate transaction contracts don't provide an exit for the seller - only the buyer - it’s best to hold off listing if you’re not sure you’re ready to sell.

Having your home sit on the market for an extended time will make buyers wonder what’s wrong with it. If you’re about to list your home for sale but any of the following warning signs apply to you, you should give some serious thought to waiting.

You haven't emotionally detached from the home

Selling a home isn't like selling your car - there are major emotional considerations involved. Have you been in your home for 10 years or more? Did you grow up or make incredible memories there? Is your home sale the result of a major life event, like a death or divorce?

If so, the thought of packing up your home, moving out and allowing complete strangers to traipse through it could spark a panic attack. It's better to hold off, mourn the loss of your home or life event, and list the property when you’re fully prepared to move on. Otherwise you face an uphill battle.

Your desired price is more than 10 percent off what agents are telling you

The first few weeks a home is listed is when it gets the most action from the serious buyer pool. If you’ve priced your home too high, it could still be languishing on the market six months down the line.

At that point, you'll drop the price - but the buyers will punish you for those greedy first few months, and your ultimate sale price will end up being a lot less than what your agent suggested.

If more than one agent recommends pricing your home at more than 10 percent below what you want for it, that's a sign you should hold off and not test the market.

You don’t have a sound exit strategy if you get a deal

No plan to relocate, rent or buy a new home? You might not be the best candidate for listing.

Without a plan, you have zero motivation to clean, organize, stage, paint or make the home market-ready. And if it doesn't show well, you leave money on the table.

Sellers with a well-developed game plan spend time and money in advance of listing. They also keep their home in great condition for the duration of the sale. It's not easy, but hard work pays off.

If you’re not ready to make the commitment, don’t put your home on the market.

Related:

• Prepare Your Home Now If You Plan to Sell It This Spring
• Factors to Consider When Pricing Your Home to Sell
• 4 Steps to Take Now for a Faster Home Sale Next Year

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/dont-put-home-on-market-192768/
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Chris Hemsworth Trades Malibu for Oz, Leaving a $6.5M Listing in His Dust

It’s a listing fit for a god - and his young family.

Chris Hemsworth and actress Elsa Pataky have moved with their three young children to his native Australia, leaving their own private Valhalla — a spacious estate in Malibu — in their dust.

The couple is asking $6.5 million for the secluded home they bought from another Aussie, “Crocodile Dundee” star Paul Hogan, in Malibu’s coveted Point Dume neighborhood.

“I know Chris and his brothers very well - I helped Liam find his house in Malibu - and they’re wonderful to work with, salt of the earth,” said listing agent Ryan Davis of the John Aaroe Group’s Aaroe Estates.

Point Dume, known by tourists for its rocky promontory along the beach, is popular among locals for its excellent preschool and elementary school, Davis said. It also offers a plaza with a grocery store, coffee shop and other amenities that make the rural scale of Malibu more convenient.

The 6,800-square-foot home, renovated by the crocodile wrangler before People’s Sexist Man Alive and his wife bought it, features a grand gourmet kitchen with soaring ceilings, a fireplace, a giant center island and tons of storage - including exposed shelves for showing off decorative glassware or an otherworldly hammer.

An expansive master suite boasts two walk-in closets, a seating area and a private lanai with mountain and ocean views. Three additional en-suite bedrooms are ideal for children and visiting Australian brothers, plus there’s a guest house, a bonus bedroom, office spaces and a library.

Photos courtesy of Ryan Davis

Related:

• Miley Cyrus Picks Up Malibu Bungalow
• Emily Blunt & John Krasinski Selling Hillside Home in LA
• John Legend & Chrissy Teigen Nab House in Beverly Hills

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/chris-hemsworth-lists-in-malibu-192606/
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House of the Week: A Glass House With Star Magic

“There’s no better view in Westchester [County] than this,” says Mitchell Cannold, the owner of this glass mansion on a rural hillside outside New York City.

There’s the view of the lake, the surrounding forest — and of the stars, through a telescope on the roof that came recommended by celebrity astrophysicist Neil deGrasse Tyson.

“When I started on the ‘Cosmos’ television series, I asked him to tell me what telescope to buy,” says Cannold, a co-producer of the hit series who’s had Tyson and many others over for star viewings.

If the urge to peer into the cosmos hits Cannold in the middle of the night, all he has to do is climb a ladder from the master suite into his observatory and start gazing.

If he and his wife, Emmy-winning producer Dori Berinstein, are feeling more inwardly focused, the master suite also offers a sauna, a Jacuzzi and an expansive deck overlooking the lake.

The 5-bedroom, 6-bath home, which is listed by Brian Murray of Houlihan Lawrence for $5.9 million, sits on 225 acres that include a heated driveway, a fruit orchard, a life-size chess board and a lighted tennis court.

The stairs to the home’s entrance are surrounded by a waterfall and bonsai-style evergreens.

“The original house had very structured Spanish steps, and we just nuked it all and did the waterfall for the sound as much as the beauty,” Cannold said.

Related:

• Walls of Glass in the Heart of Ski Country
• No Mangers Here — Just a Mansion Built for Jesus
• Real-Life (Video) Stories About the Meaning of Home

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/glass-house-with-star-magic-192474/
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Flipping Together: How Tarek and I Say "I Do" to Working Together Every Day

I love February because everyone starts thinking about love, romance, and couples. The focus on relationships also gets me thinking about all the times people have asked me how I can work with my husband every day. They have this idea that it's really hard to work together as a married couple - and that can be true if you don't love your job, or you aren't on the same page.

Tarek and I have been lucky enough to have the same dreams and goals throughout our working and romantic relationship, but we have certainly had our moments. So how do we make it work? It all starts with defining what we're doing and keeping perspective.

Two hearts, two minds

Tarek and I actually met in a real estate office, so we started working together before we began dating. Back in those days, we were both real estate agents, so we didn't work together on all of our sales.

Over the next couple of years we married, started building up our business, and had our first child. It was a priority to get a grasp on how to work together and still like each other at the end of the day. In the beginning, we definitely had a few issues figuring out who would do what and how to use our skills together.

For example, we wouldn't split the work up as much as we do now. I remember standing next to Tarek at more than one auction, as we bid together on properties. While we love working together, it doesn't make sense all the time. We realized that even though we are a unit, we don't have to function as a single person.

Going everywhere together and making every single decision together negates the advantage of having two people. Nowadays, while one of us is bidding on a property, the other will be checking out new leads or talking to our contractors.

As we started doing more flips and having multiple projects going at the same time, our to-do list grew. We learned very quickly that we needed to divide and conquer in order to run our business successfully.

Priorities and perspective

Shopping trips turn taking care of business into a fun family outing.

Setting goals is super important. That's something that absolutely has to be done together. From there, things can be broken down into smaller goals and tasks.

We plan long-term goals for the year, and then figure out what’s achievable in the short term. It then becomes easier to assign tasks that work toward those goals.

Having our separate tasks for the day, and checking in with calls and texts, allows us to be more productive, have a bit of time to ourselves, and not risk feeling smothered.

We do collaborate on some areas, though. We usually shop for materials together because it's good to have a couple of different perspectives on cost and styles. Plus, it gives us a chance to hang out together while we're working, which we enjoy.

We both know that we'll make mistakes. We've been investing in real estate for a long time, we have a great track record, and we have a solid system for flipping houses. But with any project, there a ton of decisions to make.

In hindsight, there is always room to question the amount of a bid, or what we spent on flooring, fixtures, or landscaping. We learn to move on, though, and leave the past in the past. Needling each other or bringing up shortcomings wouldn't be great for our business or our relationship.

We really do respect each other and our unique strengths. That makes it easier to overcome inevitable disagreements.

Where does the business end and marriage begin? Maintaining a distinction between work life and home life - especially since we sometimes work from home - is tricky, but it's always worth it.

We can have a difference of opinion that seems like a pretty big deal. But when we finish for the day and go home to our daughter Taylor and new baby Brayden, we remember that we do it all for them. We might've started our real estate careers to make money, but now we do everything with their future in mind.

How we manage it all

It would be easy to let our work totally seep into every other area of our lives. We have a business, we film a TV show, and we’re working on a book. We also spend a considerable amount of time mentoring and coaching students so they can benefit from our experience and avoid common pitfalls.

Complete separation would be extremely hard to achieve. I just strive for balance. Making sure the business is integrated in our lives the best way it can is important.

A huge benefit of working for ourselves is that I can be fairly flexible and spend a lot of time with our children. They are the priority, and I try to schedule things around them. Especially since Brayden was born, I've become even stricter about time. Quitting time is at 4 p.m. I'm home by 4:30, and the phone is off.

Spending time with family is incredibly important to me. I love to take Taylor for a girls' day mani-pedi. I look forward to date night with Tarek. Getting dressed up and going out is a break mentally and physically from the week's work. But even making a date to stay at home and enjoy a glass of champagne is a treat.

I also keep in mind that I'm a sister, daughter, and friend as well. Devoting time to all of the important relationships in my life keeps things in perspective.

We do everything for our family

All in all, Tarek and I always know that we're working hard to provide a happy home and bright future for our kids. We have shared interests and complementary strengths that help us work well together on all of our projects.

If you keep the important stuff in perspective, working together can be a real dream come true, like it is for Tarek and me.

Related:

• The Highs and Lows of Flipping Houses
• How I Prepare for the Holidays
• Starting From Scratch: Building a Real Estate Career From the Ground Up

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/working-together-every-day-192619/
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3 Ingenious Uses for Peel-and-Stick Tiles

Are you a renter who wants to bump up the style of your apartment without making permanent changes, or a homeowner that isn’t DIY savvy? Would you believe you can customize your home fearlessly, even when it comes to seemingly tricky updates like tile?

If the idea of messing with grout makes you want to hide in a corner, consider trendy peel-and-stick tiles, like SmartTiles, as an option for classing up your home in multiple ways with minimal commitment and effort.

You can find SmartTiles through a variety of retailers, and they’re available in many color options and styles. These tiles are re-positionable and forgiving while you are installing them, but are also very secure once you get them in place and press down firmly.

They’re a great option for renters or non-tilers because they’re a snap to install, and easy to remove without damaging your walls.

All you’ll need for installing peel-and-stick tiles is a cutting mat, an X-Acto knife, and a ruler. Read the manufacturer’s instructions carefully. (SmartTiles offers handy video tutorials and a pdf instruction booklet.) All you do is measure, cut, peel, and stick. It's that simple!

Try using peel-and-stick tiles in these three ingenious ways to make your home classier in a single afternoon.

Make your fireplace a focal point

Builder-grade fireplaces in older homes can be unattractive. They’re often covered in unsightly, outdated tiles, or are even just surrounded with bare painted walls.

Make your fireplace the focal point of your living room in just minutes by adding peel-and-stick tiles to your fireplace surround. They’ll stick to any painted or previously tiled surface. Just make sure not to place them on any areas that will get really hot, as these tiles aren’t graded for intense temperatures.

Bump up your backsplash game

If you have an ugly backsplash in your kitchen or bathroom, it can really drag your style down. But with peel-and-stick tiles, you can give your kitchen a complete makeover without ever touching a bucket of grout or a tile saw.

Simply cut the peel-and-stick tiles to fit around outlets, and press to stick. Your space will have a whole new look without the astronomical costs that normally come with a kitchen or bathroom reno.

Make furniture feel custom

You can even make your furniture appear custom and expensive with peel-and-stick tiles. Try filling in cabinet panels or lining the edge of a coffee table for an instantly posh look. Wrap boring boxy table legs or even cover a picture frame with peel-and-stick tiles to show off your favorite snap.

The sky’s the limit for using these versatile tiles to customize your furniture and home decor pieces.

So if you're looking for a quick and easy (and temporary) way to embellish your home, check out peel-and-stick tiles. You can update your space in mere minutes - without all the hassle.

Related:

• Before & After: Ditching Desperately Dated Design
• Habits of a Creative Renter
• One-of-a-Kind Design: Freshening Your Space

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/peel-and-stick-tiles-192591/
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