You’re Not Getting Any Younger—Multigen Living Can Save Your Money and Health

Over the past several years, I’ve been seeing a trend where buyers look for homes that will accommodate multiple generations—grandparents, parents, kids, and grandkids.

My gut tells me that there is a demographic shift occurring here, where:

  1. Grandparents or empty-nesters are becoming more inclined to live with people of other generations, and/or:
  2. Younger generations are more inclined to have their parents or grandparents living with them.
Since we’re all living longer, the older generations might feel the pressure of housing costs. Secondly, as people try to downsize in today’s marketplace, it’s important to know that buying a smaller home doesn’t always mean that the costs are lower. Typically people are looking for different floor plans, possibly those with main-level living, and those properties can be more costly.

Conversely for the younger generation, having the parents or grandparents around could be helpful in regards to caring for children. I also think that this younger generation might worry for their parents as they slow down with age; as they lose mobility and develop medical issues, they need more attention, and their younger counterparts want to be there to ensure they’re safe and comfortable.

Since we’re all living longer, the older generations might feel the pressure on housing costs.

Putting these factors together, many people have asked about what opportunities there are where they can bring the whole family together. Some big builders are starting to build what they call multigenerational plans in which they’ve accommodated into the floor plan a space where the parents and grandparents can have their own space, alongside the general or main living areas with the rest of the family.

In order to accommodate multiple generations, they might move, eliminate, or add some walls. They might make the basement a fully furnished space (with a kitchen and bathroom) with a separate entrance from the main door to foster privacy for the occupants. Additionally, if the property is large enough, then a guest house could be considered.

If you have any questions about accommodating multigenerational living, feel free to reach out to me. I’d be happy to help and advise you however I can.

Keep Radon Out of Your Home and Keep Your Family Safe

Today I’m joined by Randy Paquette of First Choice Radon to discuss what you can do to prevent radon from seeping into your home.

As a gas, radon is the leading cause of lung cancer in the U.S. among non-smokers. It also kills more people annually than breast cancer, colon cancer, and prostate cancer combined.

The good news is, radon is easy to test for, and you can do it with several different monitors. Randy suggests that you test for radon annually, even if you have a radon system already installed in your house. If you don't have access to professional radon testing, you can use a home kit. Home kits take about 48 hours. After the test is done, you send the kit to a lab, which then sends you back your results.

If your numbers come back a little high, you should have a professional then test your home so you know exactly what the levels are. Once you know what the levels are, the next step is to mitigate them. If you have a basement or a slab home, they create a vacuum under your home using a sub-slab system (or “fan system” as some call it), which sucks the radon out before it can get inside. 

In the long run, the cost of protecting your family from radon is worth the investment.

If you have a crawl space home, this process takes a little more work, so the cost is a little different. Basement and slab-home mitigations cost about $1,300, but the system itself should last anywhere between 10 to 30 years, so the annual cost is negligible. It only costs about $2 per month to operate the system, which is also a negligible amount.

A single test costs roughly $150. North Carolina is what’s referred to as a “red state,” meaning homes here typically have higher levels of radon in them, so $150 is a sensible investment to protect your family from something as potentially dangerous as radon is.

If you have any more questions about radon or radon testing or you have any other real estate needs I can assist you with, don’t hesitate to reach out to me. I’d love to help you.

What Buyers and Sellers Must Know About Our Spring Market

The month of March has been cold and dreary here in the Raleigh area. So, when I say that it’s time to get ready for the spring market, many people think, “Spring market? It’s still winter!”

However, despite the cold, spring has definitely arrived. The spring real estate market has sprung. I recently looked at all homes listed on our MLS in the last 30 days, and I found that 62% of those properties are already under contract.

This tells us that the market is at a blistering pace. So, today I’d like to bring you some tips on how to prepare if you plan to buy or sell in our spring or summer market. 

Let’s start by talking about buyers. If you’re thinking of making a home purchase this year, I recommend that you do so sooner rather than later. Interest rates are sliding up a little bit and many predict this trend will continue into the future. So, make your move as soon as you can.

The first step to take as a buyer is to get with a good lender and get pre-approved. This will give you a good starting place for your home search. Once you’ve met with a trusted local lender, you’ll need to find a good agent. The right agent will not only be able to help you strategize your home search, but they will also be able to help you find properties that haven’t come to the market yet. Additionally, a good agent will help you make faster decisions, which will be beneficial in our fast-paced market. 

Listings are moving quickly, but more inventory will be coming to our market soon.

As for sellers, you may want to wait until the summer to make your move. This is especially the case if you have children since they will be out of school during this time and more family-style homes tend to be listed at this time of year. That said, now is the best time to focus on getting your home ready for the market. That way when it comes time to list, you will be well-prepared. Listings are moving quickly, but more inventory will be coming to our market soon.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.