Beyond the Rush: Rethinking Your Quick Pandemic Home Buy

May 15, 2024 Emma Croft

Beyond the Rush: Rethinking Your Quick Pandemic Home Buy

In a time marked by rapid changes and unforeseen challenges, many made life-altering decisions in the blink of an eye. Among these was the leap into homeownership during the pandemic, driven by various factors, from seeking personal space to capitalizing on market opportunities. This Eileen Kedersha guide delves into the heart of such decisions, offering insights and pathways for those pondering their choices and seeking to align their current realities with their aspirations.

Reflecting on Your Decision

When you decided to buy a home during the pandemic, it was likely influenced by unique circumstances that demanded immediate action. Now, with the benefit of hindsight, it’s crucial to revisit those motivations. Are the reasons that felt urgent then still relevant today? Understanding this can clarify whether your regret is based on temporary challenges or deeper misalignments with your long-term goals.

Unpacking Regrets

Acknowledging regret is a decisive step toward resolution. If you’re feeling the strain of your decision, it’s essential to pinpoint the exact sources. Whether it’s the financial commitment, the location, or the property causing dissatisfaction, identifying these elements is the first step toward making peace with your decision or preparing for a change.

Exploring Financial Flexibility Through Entrepreneurship

The shadow of financial pressure, particularly from daunting mortgage payments, can significantly diminish the happiness of owning a home. Embarking on the journey of starting your own business emerges as a promising avenue to alleviate such pressures, promising an enhancement in your income and a profound sense of personal achievement.

Opting to form an LLC offers a suite of benefits, including limited liability, potential tax incentives, and the agility to adapt to the changing demands of the business landscape, thus providing a solid foundation to mitigate financial challenges. Establishing an LLC in Florida through ZenBusiness further streamlines this process, equipping you with the necessary tools and guidance to seamlessly align your business vision with your financial goals.

Seeking Wisdom from Experts

Navigating the complexities of real estate and personal finance often requires expertise beyond our own. Consulting with professionals in these areas can shed light on options previously unconsidered, from refinancing to adjusting your investment strategy. This guidance can be instrumental in crafting a plan that aligns with your current needs and future goals.

Learning from Your Journey

Every decision, especially as significant as buying a home, carries lessons. Reflecting on what this experience has taught you about financial planning, real estate, and personal priorities can be enlightening. Beyond the immediate takeaways, this introspection fosters a deeper understanding of your resilience and adaptability in facing life’s uncertainties. These lessons are invaluable for future decision-making, helping refine your approach to opportunities and challenges.

Enhancing Your Current Situation

While it’s easy to dwell on what might have been, the focus should be on making the best of the present. This could mean personalizing your space to better suit your needs, exploring refinancing for more favorable terms, or simply finding new ways to appreciate your home. Such efforts can transform your living situation from a source of stress to a foundation of stability and joy.

Contemplating a Change of Scenery

For some, the most direct path to resolving homeownership regrets may involve selling their property. This decision should be taken seriously and requires thorough research into the market, financial implications, and personal readiness for change. Sometimes, starting anew can be the key to realigning your lifestyle with your values and aspirations.

In the whirlwind of the pandemic, many were propelled into decisions with far-reaching implications, homeownership being one of the most significant. If you question this choice, know it’s not just about the house—it’s about your life and how you choose to live it. There’s always a pathway forward, whether through adjustment, acceptance, or a bold new direction.

If you’re looking for a new home that has more space for your new office, or enjoy the Florida Lifestyle, contact The Kedersha Group. feel free to contact Eileen Kedersha, a Broker Associate with ONE Sotheby’s International Realty, 954-462-3600 | https://www.sfloridaluxuryhomes.com/ | EKedersha@OneSothebysRealty.com or her Husband, William Kedersha who specializes in investment properties throughout Florida, 954-817-2900 Wkedersha@onesothebysrealty.com. We will help you get started in your new real estate investment business! We have been active real estate investors for over 35 years.

South Florida Luxury Homes is here to help with all of your real estate needs. Let us know if you have any questions!

Making a Move and Starting a Business: Tips for Success

August 25, 2023August 25, 2023 Emma Croft

Making a Move and Starting a Business: Tips for Success

Starting a business and moving at the same time is no easy feat, but it can be done. It requires organization, planning, and a whole lot of hard work. However, if you keep the following tips from real estate agents Eileen and William Kedersha in mind, you’ll be able to successfully navigate both tasks.
Image: Pexels

Find a Home With an Office

Finding a new home with an office can be a game-change. Having a designated workspace can help you stay organized, focused, and efficient. Whether you prefer a separate room that’s dedicated solely to work, or a sleek office nook that seamlessly blends into your living space, there are plenty of options available to fit your needs.

When you’re ready to start your search for your dream home, contact Eileen and William Kedersha!

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Using Property Investment as an Additional Income Stream

February 10, 2023February 10, 2023 wkedersha

Ready to purchase an investment property in Florida? Trust Eileen Kedersha for the highest level of real estate service and expertise. Call 954-462-3600!

Article Written by: Brittany Fisher

Using Property Investment as an Additional Income Stream

The rental market has been on the rise for some time now and will only keep growing in the future. The current supply of houses isn’t enough to keep up with the increased demand of people who are looking to buy homes. This imbalance has caused a rise in home prices, which has made it difficult for people to purchase a home. This has led many homeowners to decide on renting out their homes instead of selling them.

If you’re not ready to sell your house, renting it out is a great way of making some extra cash. Besides the steady income stream, there are tax benefits for owners who lease out their properties.

Purchasing Rental Property

Or, if you’re looking to purchase a rental property, this is an excellent time for that, too, since increases in property values and rental prices will easily keep you with a nice steady income for as long as you own the property.

The following are a few things you should consider when looking to buy rental property:

Location: The location of the property will significantly impact your rental income.
Price: You should be aware that the higher the price, the more you can charge in rent.
Rental rates: It is important to know what people in your area are paying for rent so that you can charge a competitive rate. Be aware of the effect specific neighborhoods and suburbs have on rental rates, too, so that you charge a competitive price.
Occupancy rates: Zeevou explains that the occupancy rate will determine how much money you can make from your properties.
Investment terms: You should know how long your investment will take to pay off and what percentage return on investment you are looking for.

Getting the Property Ready

It is probably not necessary to spend a lot of money on renovating your own home to prepare it for renters since you’ve likely been maintaining it all along, but there are some things you can do to make it more appealing for potential tenants.

Clean the carpets and flooring.
Polish all hard surfaces, including kitchen and bathroom countertops.
Repair any broken windows or doors.
Paint the walls and trim if necessary, using muted neutral shades.
Make sure the landscaping is as low maintenance as possible.
Curb appeal is important, so make yours stand out with some new light fixtures and flowers.

If you’ve purchased a home to use as a rental property, you’ll have to make sure everything is in proper working order, like structure, appliances, HVAC, wiring, and the roof are all in good order. Hiring a property inspector before you purchase is the best way to ensure you’re not going to be underwater making costly repairs.

If you don’t plan on living near your rental property or don’t have the time necessary for all the work involved, Rentec Direct points out that you will want to hire a property manager. They can help you maximize your profit by screening tenants, handling maintenance issues, and collecting rent payments on time. They can also help you find qualified renters by advertising your properties to the right people and negotiating leases with them on your behalf.

Tech Tools Make Marketing Easy

Marketing your property can be done easily using social media. Millions of people turn to marketplace sites like Facebook when searching for property. Posting your property on Instagram can boost awareness and showcase your rental.

You can share videos of your property to post on social media or on your website to give potential tenants an inside look at the property. Also, an infographic offers valuable information that quickly catches the eye of potential tenants and then expands on it in a fraction of the time it would take if the same message was written out instead. Building your own infographic to share on social media is easy when you modify ready-made templates by adding your own fonts, icons, and images.

Get Started Today

Property is always a great investment though it does require some work, so make sure you’re prepared before making the leap. But, as millions of other property investors will tell you, it can be one of the best financial decisions you’ll make.

If you are interested in an investment property in Florida, feel free to contact Eileen Kedersha, a Broker Associate with ONE Sotheby’s International Realty, 954-462-3600 | https://www.sfloridaluxuryhomes.com/ | EKedersha@OneSothebysRealty.com or her Husband, William Kedersha who specializes in investment properties throughout Florida, 954-817-2900 Wkedersha@onesothebysrealty.com.

Tips for a Successful Home Makeover

December 10, 2022December 10, 2022 Brittany Fisher

Tips for a Successful Home Makeover

From time to time, every home could use a little sprucing up. Whether it’s a fresh coat of paint or a brand-new kitchen, home renovations can brighten up any living space. But before you start tearing down walls or picking out tile, there are a few things to keep in mind.

Article Written by: Brittany Fisher

Image via Pexels

Types of Home Renovations

There are many different types of home renovations, from small projects like painting the kitchen to large projects like adding an addition. The type of renovation you choose will depend on your needs and budget. Some common types of home renovations include:

Kitchen renovations: Kitchen renovations can range from painting the walls to gutting the entire space and starting from scratch. If you’re planning a kitchen renovation, be sure to talk to a contractor about your options and get an estimate of the costs.
Bathroom renovations: Like kitchen renovations, bathroom renovations can be as simple as painting the walls or as extensive as replacing tile or installing a new shower. When planning a bathroom renovation, be sure to consider your needs and budget.
Flooring: Flooring is one of the most important aspects of any home, so it’s important to choose materials that are durable and easy to clean. Again, get a cost estimate from contractors to get a feel for the budget and timeline.

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How to Move to a Different State

August 5, 2022August 5, 2022 Brittany Fisher

How to Move to a Different State

Image via Pexels | Article written by Brittany Fisher: Financiallywell.info

How to Move to a Different State

Many moves in the United States are individuals or families moving to a different state. These moves are more complex than moves within the same city or state. Fortunately, a little planning goes a long way toward making the process easier. Here, we outline the basic steps for moving to a different state.

Find a Home

Although the basic buying process is the same whether you are moving across the street or across the country, there are unique difficulties when searching for a home in another state. If you are not familiar with the area, you won’t know about the noise level, amenities, or schools in any neighborhood. Make sure to research the neighborhood thoroughly and visit if possible.

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A Tough Choice: Renting or Selling Your Newly Remodeled House

July 26, 2022August 5, 2022 Guest Author

Renting or Selling, Which is Better

A Tough Choice: Renting or Selling Your Newly Remodeled House

Photos via Pixels; Article by Ed Carter: ed.carter@ablefutures.org

You’ve just spent hours, days, weeks, and maybe even months remodeling a fixer-upper in Fort Lauderdale, FL, and you’re pleased with the results. But now you face a tough choice: Should you sell this house or should you rent it out? Here, there are several factors to consider.

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Carving Out a Functional Home Office in a Small Home

July 26, 2022August 5, 2022 Brittany Fisher

Carving Out a Functional Home Office in a Small Home

Photo Credit: Pexels Article written by Brittany Fisher: Financiallywell.info

A Gallup poll showed that 45% of people working full time were either partly or fully remote as of September 2021. Whether you work as an employee or run your own business, having a dedicated workspace at home makes you more productive and helps you separate work and business activities. Even small spaces have creative opportunities for a home office setup.

Home Office Budget Averages $3,500

Set Your Budget

Converting an existing room into a home office averages $3,500, but some people spend $20,000 or more. You can also go cheaper if you implement a bare-bones design. Before you make any plans, establish an office renovation budget to help choose features and finishes.

Consider Your Needs

Evaluate what you need to do in your office to help choose a location and plan the design. If you only do computer work, a small space is sufficient. If you work with blueprints, you’ll need a large space to lay out the designs. If you’re starting a business that creates physical products, you need space to store supplies, make the products, prepare them for shipping, and store inventory. Note the equipment you need to do your work.

Find the Spot

Home offices typically range from about 50 to 150 square feet. If your home is small, you’ll likely need to choose a small space, possibly even smaller than 50 square feet. List the spaces you need for your office to estimate the necessary size. Then, explore options in your home for the office location. Some ideas include:

Small unused bedroom
Corner of a larger room
Large closet that fits a desk
Loft space
Pool house or shed
Unused garage space

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Unemployment: Hope on the Horizon

May 19, 2020May 19, 2020 wkedersha

Unemployment: Hope on the Horizon

Tomorrow, the unemployment rate for April 2020 will be released by the U.S. Bureau of Labor Statistics. It will hit a peak this country has never seen before, with data representing real families and lives affected by this economic slowdown. The numbers will alarm us. There will be headlines and doomsday scenarios in the media. There is hope, though, that as businesses reopen, most people will become employed again soon.

Last month’s report indicated we initially lost over 700,000 jobs in this country, and the unemployment rate quickly rose to 4.4%. With the release of the new data, that number will climb even higher. Experts forecast this report will show somewhere between a 15% – 20% national unemployment rate, and some anticipate that number to be even greater (see graph below):

What’s happened over the last several weeks?

Here’s a breakdown of this spring’s weekly unemployment filings:The good news shown here indicates the number of additional unemployment claims has decreased week over week since the beginning of April. Carlos Rodriguez, CEO of Automatic Data Processing (ADP) says based on what he’s seeing:

“It’s possible that companies are already anticipating some kind of normalization, opening in certain states and starting to post jobs.”

He goes on to say that this doesn’t mean all companies are hiring, but it could mean they are at the point where they’re not cutting jobs anymore. Let’s hope this trend continues.

What will the future bring?

Most experts predict that while unemployment is high right now, it won’t be that way for long. The length of unemployment during this crisis is projected to be significantly shorter than the duration seen in the Great Recession and the Great Depression.While forecasts may be high, the numbers are trending down and the length of time isn’t expected to last forever.

Bottom Line

Don’t let the headlines rattle you. There’s hope coming as we start to safely reopen businesses throughout the country. Unemployment affects our families, our businesses, and our country. Our job is to rally around those impacted and do our part to support them through this time.

Accessible Homes: What to Look for and How to Prepare for the Move

July 22, 2019May 19, 2020 wkedersha

Accessible Homes: What to Look for and How to Prepare for the Move

Author: Patrick Young  Image: Pixabay

Accessible homes make things much easier for disabled individuals and seniors, but it can often be tricky to find the right one. There are so many factors to consider: location, price, and the home’s ability to take on changes if it doesn’t meet your needs as-is are just a few. There’s also your budget to think about, as well as finding a great mortgage lender who will work with you. When it’s time to look for a new home, it’s absolutely crucial that you start with a great plan, so you won’t be faced with any nasty surprises down the line.

You can get started by making a list of all the things you want in a home. Does it need wide doorways and open spaces for ease of movement in a wheelchair or other mobility equipment? Lowered counter-tops? Bathroom safety features? Think about your specific needs and which ones will be most important to you, both now and in the future.

Here are a few more things to think about when it’s time to look for an accessible home.

Check Your Credit Score

In order to get the best deal on the right home for your needs, it’s imperative that you check your credit score before you do anything else. There are several details that go into financing a home, including your debt-to-income ratio, how much credit you have, and your down payment amount (some loans, like an FHA loan, offer low down payments and less stringent qualification requirements).

Having a great score isn’t enough these days to secure a loan; you also need to have built up enough credit to show the lenders. Do a little research online and get familiar with the requirements — and myths — that come with securing a home loan. Getting a copy of your credit report will help you figure out what you need to concentrate on as far as taking care of outstanding debts. Try to be patient; it can take some time to raise your score.

Location Is Important

When it comes to buying a home, location is always important; the school district, proximity to doctors, friends, and family, and neighborhood are all things you’ll want to look at before making a decision. Every person living with a disability has different needs, so consider the things that will make your life easier. If you don’t drive, for instance, you may want to look for something that is within walking distance to the places you frequent.

Look for Modification Possibilities

There are many homes out there that have been made accessible for various abilities, but you may find a home you love that doesn’t already have those changes. If it’s within your budget, you might be able to make the modifications yourself, but it’s important to do a little homework first. Find out whether the sellers will be willing to lower the price and get an estimate of the amount it will take to add the things you need. Bigger changes might include widening doorways, adding a walk-in shower, or pulling up the carpet and adding hardwood or laminate flooring to prevent falls. Smaller modifications might involve painting, changing out knobs for handles or easy-to-grasp levers, or installing grab bars in the bathroom.

Prep for the Move

Moving is always a big job, but with the right preparations, you can ensure that everything goes smoothly. Declutter your home before you start packing and keep everything organized and neat once you start boxing things up, so you don’t risk an injury. Finding and securing the right movers will also be helpful during this time, and you should also check to see if you qualify for financial assistance for home modifications.

Finding the right home for your accessibility needs may take some time, so give yourself plenty of breathing room. Start planning early in order to reduce stress during the process and ask for help from friends and family when it’s time to move. Staying safe is a priority, and with some assistance, you can make the process an easy one.

Need help finding a home that is either can adapt to the needs of person living with a disability or wheel chair friendly? Give us a call we are ready to help you. Eileen and Bill Kedersha One Sotheby’s International Realty, Fort Lauderdale and Weston FL 954-561-4100 or Ekedersha@OneSothebysRealty.com

Recession Fears may be Exaggerated

April 16, 2019May 19, 2020 Eileen Kedersha

Recession Fears may be Exaggerated

The Housing and Mortgage Market Review (HaMMR) by Arch Mortgage Insurance Company has found that Housing Market Trends are now nearly the complete opposite of conditions in the months prior to the Great Recession, according to Dr. Ralph G. DeFranco, global chief economist for Arch Capital Services.

Research on how past recessions affected home values shows current conditions will have a less severe impact on housing than the recession in 2008 did. DeFranco says “A recession is inevitable at some point, but it’s likely to be far less severe for the housing market than the Great Recession,” He goes on to say that “We estimate that the current market is underbuilt by 1 million or more homes, buyers are more cautious and loan quality is far higher. In 2007, conditions were completely flipped: housing was hugely overbuilt, speculative demand was off the charts and the market was awash with high-risk loan products.”

Franco further states, that the quarterly Arch MI Risk Index, a statistical model based on nine indicators of the health of local housing markets, suggests that the probability U.S. home prices will be lower in two years is 9 percent, an increase from 6 percent in the previous study.

In Florida, an Arch index infographic suggests that Florida home values have only a 6 percent chance of declining in two years. However, a higher risk (25 percent) in Miami suggests the chances are even lower in the rest of the state.

Nationally, the overall risk of a decline in home prices remains better than the historic average of 17 percent. Every state is expected to have positive home price growth over the next two years, continuing recent trends. © 2019 Florida Realtors®

Eileen Kedersha, Broker Associate One Sotheby’s International Realty – Kedersha Group 954-561-4100 EKedersha@OneSothebysRealty.com