What is home equity?

I’m sure you’ve heard that home ownership builds wealth. Have you ever wondered what exactly home equity is and how it can enhance your total assets? Here’s a quick explanation to help you out.

Home equity is the current market value of your home, minus what you owe. When doing out the math, you’re looking for a positive number. Quite simply, home equity is how much you truly own of your home. Your properties equity increases as you make payments against the mortgage balance, and/or as the property value appreciates: when your home gains value because of improvement projects or a healthy real estate market. Building home equity is a long-term proposition, but the end result is so worth it.

Signs You’re Ready To Build A New Home

You’ve thought about it. Then thought about it some more. And thought about it some more. You know what you want and what you don’t want. You have ideas in your head and written down on little notepads throughout your home. You know that this is the right move and you’re ready to take the next step into custom building your home.

You’re financially stable. You’re secure in your job. You have some money saved. You’ve done the math. If the numbers look right, you’re ready to rock and roll.

You’ve outgrown your current living space. When you first started living in your current home, it made sense at the time. Whether your family has grown or you just feel like you need a little more room, you know that you have outgrown your current living situation and it’s time to upgrade.

You know what your life will look like in 10-20 years. When building/renovating your home, you should know that you plan to live there for at least the next five years. If you know this and you’re ready for it, building a new home or renovating/upgrading your current home makes total sense.

You have a builder in mind. The builder you choose will affect your overall experience, so make sure it’s someone you trust. And if you can’t think of anyone, might we make a suggestion?

Call us at Snell Construction and let’s build you a forever home that is perfectly suited for your every need for the years to come.

Choosing your Custom Design

When working with a custom builder, there are a lot of questions you have to ask yourself before you start working on designs. Here are three questions to get your imagination flowing and to make the process a bit easier.

What qualities of your current home do you like the most?Think of all the qualities of your current home that you want to reflect into your custom built home. Do you enjoy how much storage you have in your current home? Make sure to keep that quality in your new custom built home. Can’t imagine yourself without your mudroom? Make sure to keep a designated mudroom in your new space.

Where do you spend the most time? For example, if your family spends a majority of time in the living room, put some extra thought into designing that area. If you spend a lot of time in the kitchen but feel that your current kitchen is too small, think about creating a larger, more accommodating kitchen space. If you and your family are always fighting over the bathroom, think about adding another custom built bathroom into your new space.

Open or closed concept floor plan? If you are thinking of an open concept floor plan, knock out as many doors and walls as possible to allow your family to feel together, even when in separate rooms. Open floor plans are great for entertaining. If you decide to go with a closed concept floor plan, you will have dedicated spaces for each different room, allowing for more privacy. *Make sure to check out our in depth blog on open vs closed floor plans here.

Be sure to talk to your family about what they’re looking for in your custom built home to get a better idea of the game plan, and then call us at Snell Construction to help make your dream a reality.

Spring Into Spring

Spring is coming! Time for spring cleaning…and spring decorating! Here’s a few ideas on how to transition your home with the season.

Time for bright colors! Replace your deep jewel toned blankets and throw pillows with something a bit brighter (think yellows, light blues and pastels). If you can, add some bright artwork into your space as well.

Replace your heavier winter curtains with something more light and airy. After all, we finally have a few more hours of daylight, so enjoy it! Less is more in the spring, so even something as simple as adding a few lightly scented candles and glass vases will make a noticeable change.

Add some flowers into the mix. Tulips, daisies and peonies will bring the feeling of spring into your home. A small flower arrangement on a table or windowsill is enough to do the trick, but feel free to add a floral arrangement in every room if you feel like it!

Out with the winter blues…in with the spring “woo-hoo’s!”

Mixing Modern and Traditional Furniture

When building and planning a new custom home, most people love a modern feel, where everything feels fresh and new. But what about the old couch that you inherited from your great-great-grand parents that you just don’t have the heart to get rid of? Let’s go over a few quick ways to mix modern decor with antique pieces.

1.) If you have a Victorian-esque sofa and/or chairs, pair them with a modern coffee table.

2.) Any antique mirror will look great hanging in a modern room. Not much work to do there!

3.) Cover old chairs in more modern fabric. Reupholstering antique furniture will breathe new life into the pieces.

4.) Put modern lamps on an antique table, or antique lamps on a modern table.

5.) An antique chandelier hanging in a room full of modern fixtures will add lots of character.

6.) A gorgeous antique rug will bring influence and tradition to any space.

7.) Antique bathtubs are an amazing focal point for any bathroom. Keep the sinks and appliances more modern.

Antiques can bring a feeling of warmth and tradition into a home, and these ideas will help you get started. Happy decorating!

Prep Your Kitchen For The Holidays (Or Any Day)

As we write this, Easter is 45 days away. As we all have learned by now, time flies, so we might as well say Thanksgiving, Hanukkah, Kwanzaa and Christmas are right around the corner. If you’ve decided to host a holiday dinner at your home, things can get pretty stressful. Here’s a checklist to reference to make sure your kitchen is ready for the action.

1.) Clean up any mail, bills or paperwork that might be strewn across your countertops. Make sure to wipe the counters down.

2.) This is the perfect time to clean out your refrigerator. During your gathering, many people will be opening the fridge to grab drinks, condiments, etc. Make sure the door handles and shelves inside are clean.

3.) Wipe down the inside and outside of your microwave, making sure there’s no evidence of food splatter or mess.

4.) Take a wet rag and clean the outside of your oven, making sure to also do a cleaning around the top burners. If you’re going to run the self-clean cycle on your oven, try to do it a few days before your party instead of the day of.

5.) Wash down your trash cans, paying special attention to the food and gunk that can collect at the bottom.

6.) Sharpen your knives and polish your silverware. Make sure your kitchen is stocked with all the necessities.

Whether it’s a holiday party, a family gathering or you just feel like doing some spring cleaning, following this checklist will assure that your kitchen is ready to be put to good use!

Throw The Perfect House Warming Party

You’re all moved in to your new custom built home. Your state of the art kitchen is waiting to be put to use, and your living area is the perfect place to sit around and chat for hours with family and friends. What better way to show off your new home than to have a house warming party?

Make sure your home is ready for guests. Try to unpack any and all cardboard boxes and make your home feel comfy, cozy and welcoming. If you can’t get all your boxes unpacked, it’s fine. It adds to the “just moved in” charm. Add some decorations such as table cloths, hanging lights, candles and pictures. Put some music on in the background to make sure your guests are entertained. If you feel up to it, cook your first grand meal in your new kitchen! If not, try to cater some food from a local restaurant so you have more time to relax and hangout. And don’t forget to give your guests what they came for: a grand tour! Show off your new house and most importantly, have fun!