Author Archives: bhhshodnettcooper

About bhhshodnettcooper

It’s About Family… Berkshire Hathaway HomeServices Hodnett Cooper Real Estate is a family owned and operated company in the Golden Isles. Roy Hodnett and his daughter Pat Hodnett Cooper are at the helm of the real estate team. "Everyone that works here is not just a member of the team, they are members of our family," shares Pat Hodnett Cooper. Roy and Pat share a love and passion for real estate and for all the people involved with their business. They are joined by Pat’s children, Kelly Bennett and Luke Pigge, who help lead the real estate team to success year after year. Work with the Best! Pat and Roy have been assisting clients in the Golden Isles’ real estate market for over 30 years and are committed to their clients and to their agents. As a Berkshire Hathaway HomeServices affiliate, Hodnett Cooper Real Estate continues to lead the market as the most knowledgeable, engaged and capable company offering the highest level of customer service. With over 50 agents, a full range of real estate services including real estate sales, residential rentals, property management and commercial sales and leasing, Berkshire Hathaway HomeServices Hodnett Cooper Real Estate is the premier real estate company in southeast coastal Georgia. Three convenient locations serve clients and customers in Glynn, McIntosh, Camden, Brantley and Wayne Counties.

Quick Ways to Build Equity

Quick Ways to Build Equity: Equity is the percentage of market value that you own in your home. Your lender owns the rest, so your goal should be to pay the lender’s share (the principal) down and build your share (equity) up.

You don’t need to go to extreme lengths to pay down your mortgage. Just follow these few easy tips:

  1. Buy wisely. Buy as much home as you can without straining your resources, so you can occupy your home longer. Moving and closing costs eat away equity.
  2. Pay a little extra. Pay a little more every month toward reducing your principal. Use bonuses or cash back on your credit cards to apply to your mortgage. Making one extra payment a year could shorten your loan payoff by as much as four years, saving you thousands of dollars in interest.
  3. Pay off other debts. Don’t incur new debt. Spend less on automobiles, dinners out and other expenses. Pay off credit cards and student loans as quickly as you can, so you’ll have more money available to pay toward your mortgage.
  4. Make improvements. Keeping your home repaired and updated helps you preserve equity by making market value higher.
  5. Let time work for you. Think of your home as a savings account where the money you put in can be retrieved one day – with interest. Historically, homes have increased in value as much as three percent a year in normal markets, which is a great way to build instant equity.

Remodeling Trend to Rise

Remodeling Trend to Rise: According to the Federal Reserve, the primary residence accounts for about one-quarter of all assets held by households, ahead of other financial assets, business interests and retirement accounts.

It’s important to protect the value of your home by keeping it repaired and updated. Not only does an update make a home more attractive, it should improve functionality, make it more comfortable, increase the enjoyment, and increase the value, upping the chances of a higher resale price.

Remodeling Trend to Rise

If you’re planning on making home improvements, you’re in good company. Home improvement spending is expected to increase by seven percent over the next year, according to research by the Joint Center for Housing Studies of Harvard University. Homeowners will spend about $350 billion on updates by mid-year 2019, confident that they’re making a good investment, thanks to rising home values and a growing economy.

How are they spending their money? The National Association of Home Builders (NAHB) said in May 2018 that bathrooms have overtaken kitchens as the number one remodeling choice.

NAHB surveys of homeowners who recently remodeled their homes found that over four out of five remodeled baths (81%) while 78% remodeled kitchens. Nearly half of respondents replaced doors, remodeled whole homes or added a room to existing homes. Most homeowners start with smaller projects such as new front doors, green-friendly appliances, programmable thermostats, low-emissivity windows and new HVACs.

As home remodeling continues to be popular, you will likely to see increased benefits from your home improvements.

Too many Clothes, No Down Payment

Too many Clothes, No Down Payment: Crazy fashion trends do more than strain closet space. They can sometimes send the message that trendiness is more important than building wealth. Here’s to save the money you spend on new clothes for something more rewarding – a down payment on your own home.

Reduce your wardrobe. Consign, donate or give away clothes you haven’t worn in a year or two. Keep anything that goes with at least three other items, like a jacket that works with a dress, skirt and blouse, or jeans. Too many Clothes, No Down Payment

Take better care. Fast fashion doesn’t last, so when you wash clothes, turn pants, skirts and blouses inside out first. Don’t use wire hangers. Fold knits instead of hanging them. Your clothes will look better and last longer.

Buy less. If you buy something for $100, look at how long the season is to wear it (four months) and how many times you’ll actually wear it (17). Take the cost ($100) and divide by the number of wearings. That’s a tax of $5.88 every time you wear it.

Bank the money. If you spend $200 a month on clothes, try a year without buying anything new and let that $200 multiply in a savings account, 401K, or CD. That’s $2,400 that could grow with compound interest and investment growth. In three years, you could have over $10,000 or more and that’s a good start toward owning a home.