Puget Sound Properties & Lifestyle

  5 Things You Have To Consider Before Buying a Home Buying a home is one of the most significant investments you'll make in your lifetime. The process can be exciting yet overwhelming, especially if you're a first-time homebuyer. While it’s easy to get caught up in the aesthetics of a potential new home, it’s crucial to consider various factors that could affect your investment long-term. Here are five key things to think about before signing on the dotted line. Deferred Maintenance One of the first things to assess when considering a home purchase is the state of its maintenance. Deferred maintenance refers to necessary repairs and upkeep that have been postponed, often leading to larger problems down the line. When touring a home, it’s essential to keep an eye out for signs of neglect, such as peeling paint, outdated appliances, or leaky roofs, which are very common here in Tacoma and the Pacific Northwest. These seemingly minor issues could be indicative of more sign...

  The Intangible Value in Real Estate Have you ever found yourself captivated by a home as you drive by? Maybe it's the timeless character, the way the landscaping perfectly complements the architecture, or perhaps it’s something less tangible—a feeling that draws you in, making you imagine it as your dream home. You might even find yourself taking a detour now and then just to catch another glimpse. What resonates with one person may not resonate with another, but there are certain qualities in a home that appeal universally. The tricky part is determining the actual value those qualities add to a property. It’s much like a piece of art—its value fluctuates based on market trends and the eye of the beholder. Just as we’ve seen the modern farmhouse style dominate the past decade, design preferences in real estate ebb and flow. From my perspective, a well-built home with classic design elements never goes out of style. You can sense it in the way the front door opens, how the...

Building Your Dream Home: Part III - The Build Out We close out this week’s three-part series on building your dream home. Earlier his week we covered land, feasibility, contractors, architects, permits and many other topics. We’re ready to build our home!  If you’re lucky enough to have cash in hand and you have approved your contractor bid and have permits ready to go, you can begin the process of demolition (if needed) or site preparation. Your contractor and your architect should be on the same page with detailed plans and execute the plan you’ve put together.  If you need to get pre-approved from a lender for a construction loan or a rehab loan, that process should already be completed before you start writing checks. Each bank/lender is going to have their own construction process. They’re going to need to know who the builder is, and have them conform to the banks process for taking draws as the construction project progresses. Each month, your contractor will be su...

  Building Your Dream Home: Part II - The Architects This is part two of our three-part series on building your dream home.  In our first part, we discussed the importance of finding the right piece of land to build on. That means many different things, to different people. A secluded cabin in the woods could be the perfect getaway, or maybe it’s an old home tear-down in a great neighborhood. The importance of finding the right land and location cannot be understated.  What wasn’t mentioned was diving deeper into what owning that property will mean long term. Do you anticipate the property remaining stable for years to come?  Are their nearby development plans that would change the reason you’re buying the land?  Do you like the neighborhood, character and location?  Is the area appreciating or depreciating?  Is their proper ingress and egress to and from the property?  Looking at the property from a neutral perspective, is there any reason y...

Building Your Dream Home: Part I - Where to Start Welcome to the first installment of our three-part series on finding the perfect land and building your dream home. If you’re anything like me, the idea of identifying a lot, managing the infrastructure, creating a design, and executing on it can feel overwhelming. While the overall process is similar no matter where you’re building, location plays a huge role in the ease, cost, and feasibility of your project. For instance, building a cabin nestled in the mountains involves different challenges than putting up a manufactured home on a flat lot. Let’s dive into how to get started. Deciding Where You Want to Live The first step is determining where you want to live. For some, the dream is a secluded cabin far from the hustle and bustle. For others, the ideal home might involve tearing down an existing structure in a more developed area and starting fresh. Whatever your vision, research is key. Investigate the availability of utilities...

8 Seconds to Make a Good Impression - What Your Home Says About You In real estate, the first impression often makes the difference between a quick sale and a property languishing on the market. With prospective buyers forming opinions within the first eight seconds of seeing a property, it is crucial for sellers to ensure that their home shines from the moment it comes into view. This brief yet vital window of time can be influenced by three key factors: curb appeal, cleanliness & smell, and organization. Mastering these elements can significantly increase a property's attractiveness and sale potential. Here in the Pacific Northwest near Seattle, homeowners love setting the bar on incredible curb appeal.   Curb appeal is the exterior's first chance to captivate potential buyers. This is more than just a fresh coat of paint or a well-manicured lawn; it's about creating an inviting and visually appealing exterior that reflects the care and attention given to the entire p...

4 Great Ways to Create Passive Income Now Passive income has become a popular goal for many people looking to increase their wealth without the need for constant active work. Real estate offers some of the most effective strategies to generate passive income. Whether you're just starting out or looking to expand your portfolio, here are four great ways to create passive income through real estate. Buy Multi-Family Property Purchasing a multi-family property is one of the best ways to build significant passive income. These properties consist of multiple units within a single building, such as duplexes, triplexes, or apartment complexes. The main advantage of owning multi-family properties is that you can rent out each unit separately, which provides multiple streams of rental income from a single investment. Here in Tacoma, Washington, buying an investment property means would want to do your due diligence on the condition of the property, knowing that each unit has been live...