The best way to upgrade your house and get a high ROI (return-on-investment) is to remodel it! Remodeling allows home sellers to transform their houses according to the latest trends. But that's not the only purpose of remodeling your DFW modern home in Dallas. In fact, home remodels also increase your home's value, expediting the home selling process and making your home more functional and aesthetically pleasing.

With so many benefits of home remodels, what's stopping you from remodeling your house? Maybe the finances? It's no secret that remodeling your house will cost you a lot of money, but we all know that spending on it is totally worth it. However, the real issue arises when homeowners don't have enough money to finance their home remodels.

Here are some ways to finance your latest home remodeling project.

Tap into Your Savings

The best way to finance your home remodel is to tap into your savings. In addition, it's also the simplest method as you won't have to pay interest or do a lot of complicated paperwork to obtain finances. However, it's essential to research beforehand when spending your entire savings on a home remodeling project. Not every home remodeling project is worth your time and money, and you should select the one that offers the highest return on investments.

But how can you ensure that you're selecting remodels with the highest return on investments? The answer is simple: get expert advice! We recommend communicating with an interior design expert to know which home remodels currently offer the most value and avoid doing remodels that will make you regret spending your savings. And if you can't figure out the home remodeling project after expert advice, bathroom and kitchen remodels are the safest choices for you!

Get a Construction Loan

But what happens if you don't have any savings? Should you not do a home remodel? Of course not! Home remodeling is worth spending your money on, even if you don't have any savings. In such cases, we recommend taking out a construction loan. You can get a construction loan from the Federal Housing Authority or apply for a Fannie Mae home styling loan.

However, you can only apply for these loans if you get the estimated value of your house after the renovation. These loans are complicated and contain tricky terms, so we recommend researching the conditions in-depth before getting a construction loan from the Federal Housing Authority or other Fannie Mae enterprises. Many experts consider these loans expensive as the organizations issue them based on every construction stage.

Moreover, these loans also include the costs of private mortgage insurance, evaluations, and appraisals. If you want a construction loan, we recommend switching to a traditional mortgage once your home remodeling is complete!

Apply for a Personal Loan

According to home remodeling experts, most construction and home renovation loans have an interest rate of 3% or lower, so you should try getting a loan even if you've saved money. With these nominal interest rates, it's better to invest your savings elsewhere and use a loan to remodel your house. However, if a construction loan is too complicated for you, you can always apply for a personal loan.

If you want to invest in a small home remodeling project, we recommend applying for a personal loan. A personal loan provides a relatively smaller amount, and due to its lower upfront costs, you can pay it off quicker than a construction loan. Unlike construction loans, a personal loan takes 6 or 7 years to pay back entirely, and, therefore, it's the perfect option for low-cost, low-scale home remodels.

Try a Cash-out Refinance

A cash-out refinance is when homeowners take a loan on an already existing mortgage. You receive a home loan based on the difference between your home's worth and what you owe. For instance, if your house costs $20,000 and you owe $15,000, a cash-out refinance will pay you $5000 in cash.

This option is more flexible than a construction loan, as the enterprise pays the money to the homeowner instead of the construction contractors. In addition, with interest rates at one of the lowest points in the history of the United States, a homeowner can still pay it back easily, but they would have a longer loan term.  

Apply for a HELOC

A HELOC or a home equity line of credit is a good option for people with substantial equity on their houses. Fortunately, many people have this benefit, making HELOC another practical home remodeling financing option.

However, homeowners should understand the complete loan terms before applying for a HELOC. Many homeowners think they have to pay a minimum payment with interest, but that's far from the truth. Homeowners have to pay both the principal amount and interest to pay off the HELOC in five years.

The Retirement Savings or 401(k) Loan

Do you know that you can also get a loan against your retirement savings? This is one of the quickest ways to get cash, and you'll have to pay back the interest to yourself instead of paying it to a loan lending organization. However, you can only borrow 50% of your retirement savings or $50,000 in cash.

However, most financial advisors don't recommend going down this path unless you don't have any other home remodel financing option available. The home remodeling market is risky, and you wouldn't want to lose your retirement funds if you don't get the maximum ROI.

Sell Your Remodeled Home Through Dallas Contemporary Homes

Once you've remodeled your house, selling it at your desired value should be the next step! Dallas Contemporary Homes is a one-of-a-kind home buying and selling platform that allows you to add your house to the list of contemporary homes for sale in Dallas, TX. Once you've added your house to the list, their highly-experienced and skilled Realtors ensure that you make the maximum profit possible.

And isn't that what every seller wants? Many people remodel their DFW modern home to get a high return on investment, and selling through Dallas Contemporary Homes allows them to get their desired price.

So, what are you waiting for? Visit their website or get in touch with them, and let their Realtors help you sell your mid-century modern home in Dallas.

It's no secret that buying a house is a major life milestone. You'll be staying in the same place for the next 15-20 years of your life, and a house that doesn't fit your needs or has multiple issues can make your life difficult. Most people prefer getting a home inspection to ensure that their chosen contemporary home in Dallas, TX, has no underlying issues. However, there are a few things that you can check out on your own.

This blog discusses things to look out for when viewing a house for the first time. These things can make or break your deal, so we recommend that you check everything thoroughly.

Do the Walls Have Dampness?

Do you know that moisture trapped inside the walls can lead to many respiratory diseases? However, that's not all! It also increases the risk of mold growth and pest infestation. Therefore, while visiting a house for the first time, we recommend keeping your eyes and nose open for any signs of moisture.

You can look for signs like a musty smell, cracked or peeling wallpapers, discoloration on the ceiling or walls, or dark patches on the walls. These signs suggest that the house has structure and ventilation issues, trapping moisture inside the building. Getting rid of the moisture requires a lot of money and time; therefore, a house with damp walls is not worth purchasing.

Which Way Does the House Face?

Do you want to benefit from maximum sunlight during the daytime? If yes, you should consider the direction of the house before making an offer. South-facing houses get the highest amount of sunlight during the summer months, making them the most popular houses. On the other hand, North-facing houses get less sunlight as the house faces away from the sun.

Are the Rooms Spacious Enough?

Do you have many family members and are looking for a house with multiple rooms? That's great, but you should also ensure that the rooms aren't small and cramped. Some home sellers try to put small furniture in a room to make it look bigger, but you should measure the room using a tape measure. If you own large-sized furniture, you need a home with spacious rooms.

Do the Windows Work Properly?

Another essential element to consider in every house is the windows. Windows are responsible for letting in air and sunlight in the house. Therefore, we urge you to run a hand down the window to notice if it has any condensation. If you can feel condensation, the windows have bad insulation, and you'll need to spend some money to save energy. In addition, windows with cracked and rotten frames indicate poor maintenance and costly repairs.

Can You Make Changes in the House?

Do you renovate your houses regularly to match the market trends? If yes, we urge looking for the remodeling potential in a house on the first visit. Moreover, you should also check if you can extend the property or make changes to the exterior if needed.

Are the Electrical Appliances Working Fine?

When viewing a house for the first time, it's important that you check if the electrical appliances are working properly. Try all the switches to ensure that the light bulbs and the sockets work correctly. In addition, we also recommend checking kitchen appliances like the stove, dishwasher, refrigerator, and oven.

You should also be on the lookout for any broken or exposed wires. These wires indicate that the house isn't well-maintained, and it might have other underlying electrical issues. Remember, replacing all the circuits, wires, and sockets costs a lot; checking their condition beforehand is the smarter option.

Is the Plumbing in Working Condition?

On the first visit to the house, check if the plumbing is up to the mark. Check the pipes and see if they have any visible cracks or tears. You can also run the taps and try the flushes to check the water pressure around the house.

In addition, ensure that the heater is working correctly. We also recommend checking under the sinks, especially the kitchen sink, to see if it remains dry. Plumbing issues can be a huge nightmare, and it's better to avoid buying a house where you would have to hire a professional to deal with plumbing issues.

Is the House Energy-Efficient?

The average carbon footprint of an American citizen is 16 tons, which is way more than that of the rest of the world, which is 4 tons. Therefore, when you're viewing a house, we recommend checking if it has features that save more energy and reduce your carbon footprint.

Ensure that the walls offer sufficient insulation and the windows have double-glazed glasses. Both regulate the indoor temperature while helping you cut down on bills and saving the planet. In addition, a house with energy-efficient appliances like LED bulbs, solar panels, or turbines is a plus!

Does the House Offer Maximum Security?

When you're viewing a house for the first time, we urge you to check the level of security the house offers. Ensure that the exterior walls don't have any footholds or supports that allow intruders to enter the house by climbing the walls.

In addition, the front yard should be visible to the passers-by in the street, and the windows and doors should have highly-secure locks. A house with CCTV cameras also offers added protection, especially if you're concerned about security.

Look at Some Listings on Dallas Contemporary Homes

If you're looking for a house that ticks all the boxes and doesn't have any foundation or structural issues, we recommend checking out Dallas Contemporary Homes. This innovative platform has sellers adding their houses to listings for contemporary homes for sale in Dallas, TX.

In addition, their highly-experienced Realtors help you find a DFW modern home in Dallas that meets your needs and wants. Visit their website to look at mid-century modern homes for sale in Dallas, TX, today.

Every year, Americans spend $400 billion on home renovations. The main goal behind these costly remodeling projects is to boost the value of their homes.

Home improvement projects are both fascinating and demanding to plan. There's a lot that can go wrong in remodeling and finishing touches. While better renovations may improve any property, bad renovations can cause even the most expensive properties to lose value.

Many people are even unaware that certain upgrades can cost you big bucks but add little to no value to your properties. As a result, the stakes are high!This may appear intimidating, but don't be concerned!

This blog will mention a few home renovations that do no good to your selling price.

Revamped Basements and Attics

A calming and peaceful attic or basement is something that everyone enjoys. Though many real estate professionals believe that basements help sell a house and add value, it's not wise to spend thousands of dollars on remodeling them.

You’d hardly get your money's worth out of it. For example, upgrading your attic may cost $80,000, but it will only add $45,000 to the value of your property when you sell it, recouping only 56% of the investment.

Adding Solar Panels

Solar panels are the best solution for reducing your carbon footprint and monthly electricity costs. However, they don't add as much value to your property as you may imagine.It's crucial to determine whether the solar panels are leased or purchased outright.

They have no value if they’re rented because they belong to the solar panel firm. If you have purchased them, it might provide your house with a temporary increase in value, but that value diminishes with time as the panels age and newer models come on the market.

Wine Cellars

Wine cellars are one of the fanciest additions to your home, but they are also the most expensive. If you're trying to sell a house, it's best not to spend that money in the hopes of increasing its worth. This is another characteristic that will pique the interest of only wine enthusiasts.

Remodeling Your Garage into a New Room

Most people wish to convert their garages into a room, reasoning that more space equals more money when you sell. However, the reality is different. Converting your garage into a room will not increase your home value. You'll spend nearly 10,000 on the makeover and reap no benefits.

According to the National Association of Home Builders, 25% of Americans believe their garages to be a need for their home. During winter, many of these people prefer a garage to a room to store their cars. Therefore, it’s not wise to convert your garage into a room for additional space.

Carpeting That Runs the Length of the Room

With so many modern flooring options available in the market, many homeowners now no longer prefer fresh carpeting as a selling asset.

The potential for trapping allergens and the use of harmful chemicals in production is one of the main reasons homeowners avoidcarpeted floors. Therefore, it's better to avoid installing wall-to-wall carpeting in your properties when putting them up for sale.

It's unlikely that you'll be able to recuperate the expense of carpeting. Having carpets as your primary flooring option can depreciate the value of your home. Hence, you must consider replacing your old carpets with wooden flooring if you want to increase your sale price.

Luxury Upgrades

The belief that adding luxury renovations to your property will add significant value is a common fallacy among homeowners. According to Remodeling Magazine's 2020 Expenditure vs. Value Report adding a premium high-end kitchen remodel will only return 54% of the cost.

Meanwhile, a modest kitchen update is preferable to a luxurious one because it will recoup 77% of the investment.The lack of return is because these improvements are primarily personal to the homeowner.

This implies that the choice of finishes and materials is entirely up to the homeowner. What you like might not be well-liked by the person buying the property. As a result, it's better to stay away from luxury and costly upgrades when aiming for a better selling price for your property.

The potential buyer will see it as a nice-to-have feature rather than a necessity. They won't be concerned about the cost or materials used, ignoring your most significant investment.

Customized Wallpapers

Wallpapers are making a comeback, but it's another upgrade considered very personal. Wallpapers cost between $700 and $1500 per square foot, and the future owner will almost certainly remove them.

Skilled real estate professionals will advise you to take out your wallpapers before selling your house because they give the area a generic rather than a personal aspect.

Swimming Pool

A refreshing swim will instantly elevate your mood. It surely does, but the cost of a swimming pool is not something homeowners will be willing to pay.

The typical cost of installing a swimming pool in your home is about $20,000 to $70,000, with only a 10% return on investment. Not everyone is willing to maintain such a high investment addition to their properties, thus warding potential buyers off your property.

Quirky Flooring

Keep in mind that anything that's overly personalized will not be significant when selling the property. It might even depreciate your home value. Flooring remodels demand time and money. Imagine spending thousands of dollars on tiling only to discover it reduced $1000 from your selling price.

It's better to go with simple flooring. Until and unless you know a potential buyer who loves a specific taste or vibe and will be willing to pay the amount you spend on the development, don't make a move. What you might think is adding to the appeal might be distracting for others.

They might want to rip out the flooring you spend months installing. Therefore, less is more, and it's better to go easy on your flooring. There's no need to splurge on flooring to boost your property's value.

Lavish Lighting Fixtures

No doubt, illuminating your home adds to the curb appeal, but adding costly lighting fixtures might turn off potential clients. Lighting trends change all the time. If you do a flamboyant lighting setup, it will quickly fall out of style and diminish the value of your home.

Don't go for luxurious chandeliers. Lighting is also a feature that adds a personal touch to the house. What you think looks great might not be well-liked by your buyer.

They might turn away from your property, thinking changing the lighting of the entire property would be very costly. Therefore, to avoid any loss of value, experts always advise choosing something classic and ageless.

Outdoing Your Neighbors

People often think adding more expensive upgrades, lavish windows, expensive landscaping, and newer features than the neighbors will increase their property value.

However, that’s rarely the case. The truth is it results in a drop in home value due to the neighborhood effect. Instead of spending extra money on flashy amenities, you may keep your home current without making it more expensive by installing new fixtures and updating them with modern technology.

A potential buyer shopping for a property in a smaller community is more likely to have a limited budget. Therefore, adding expensive features will make your property expensive for a potential buyer who is already struggling with budget constraints, thus putting your property on hold.

Bold and Bright Paint

Looking for an easy fix? Paint your home. This is something that Realtors tell all potential buyers when they’re selling their properties. But do you know this paint can also hurt your selling price if not done the right way?

Painting the interiors or the exterior of the property in bold and bright colors might negatively influence your home value. You might like deep blues, purples, and reds, but that doesn't mean that the potential buyers will also enjoy these colors.

Choose neutral colors to provide purchasers a blank canvas to visualize the home in their own style. With neutral hues, buyers can anticipate better, and going against the grain may drive off purchasers who would have been eager to pay top money for your house.

Lowering Ceilings

High ceilings appeal to buyers because they make the room look spacious by opening up spaces. Lower ceilings may save money on energy expenses, but they may make you feel claustrophobic.

Lowering your ceilings might not be a sensible remodel when selling your home. It won’t be able to recover your investment as it might reduce the value of a home.

Converting a Room into a Work from Home Space

People can now work from home thanks to advances in technology. Therefore, some may consider setting up a specialized home office area to function without disruptions. However, if the new office used to be a bedroom, this could be a bad choice.

A lot goes into converting a bedroom into a professional workplace. You’ll have to get new hardware, wall outlets, furniture, and other necessary stuff. You’ll also spend a fortune eliminating and getting the things out of the room.

This may put up a total cost of $3,000. All this money for nothing if a potential buyer would want to have a sleeping space as not everyone desires to work from home, and not everyone has an option to work from home.

Addition of a Sunroom

While a sunroom addition can be a terrific way to enjoy the outdoors, studies show that it's one of the worst additions to make if you want to increase the value of your home.

When you're looking for ways to get a higher price for your home, you should look out for home renovations that give a higher return on investment. There's no return on the significant amount you invest in building a sunroom.

It would approximately cost about $75,000, while it adds only $35,000 to your house's worth to the max. Before going for such a costly improvement, answer a few things that might be significant.

How often can you use it? There's no point in having a sunroom when it's snowing more than half of the year. Do you have any backyards or lawns that serve the same purpose? If you already have a backyard, it's good to go, and it makes no sense to spend a fortune for the same thing.

It's not that easy to sell or buy a house. However, enlisting professional assistance can make the process much easier. Dallas Contemporary Homes is a real estate firm that can assist you in selling your home without any hassles. Get a quote for your property from us today to get started. We also provide you with advice on ways to improve the value of your home in case you're aiming for more money.

Our online real estate service also helps you find your dream home in Dallas. We focus on each transaction and help buyers and sellers meet their needs according to their budget and preferences. We also offer tailored marketing services for the sellers' specific concerns.

Whether you're based in Deep Ellum, Bishop Arts, Bluffview, Knox Henderson, or any other stunning part of Dallas, our experienced Realtors can help you get the best deals.

So, what are you waiting for? Get started. today. 

Many individuals would lead you to believe that selling a home is the most overwhelming and unpleasant undertaking. However, it doesn't have to be that challenging if you know what you're doing.

Here are some factors that influence the sale of your house and affect your profits. This blog will also guide you on making the most money when selling your home.

Location

The location of your house is one of the most significant factors that influence the selling price of your property. You're in a favorable spot if you're closer to local retailers, hospitals, workplaces, good schools, parks, and other amenities.

Some people might prefer to live in the suburbs to avoid the city's noise and stress. But for properties in such areas, there has to be a proper roadway network to commute to other places easily.

Your home's location is crucial as it significantly impacts the quality of life throughout the stay. Your property's proximity to major highways and the traffic flow are also some key considerations in determining the sale of your house.

Are there nearby public nightclubs, pubs, arenas, or clubs? Is public transportation readily available, and does the town fall within any flight paths? All these factors are well taken into consideration when determining a selling price.

Time

When it comes to selling your house, timing is crucial. You'll need to determine how much time you have to close the deal and whether you're on a tight schedule. You might be buying a new home and selling your old one simultaneously, which means you'll be exchanging keys to your new and old home.

You should also keep an eye on the present state of the market. Is real estate becoming more valuable or less valuable? Consider selling when the market is at an all-time high in terms of pricing. This will help you get a better price for your property than expected.

The Curb Appeal of Your Home

You don't get a second chance to make a first impression, so make sure it's a good one. Concentrate on enhancing the curb appeal of your modern property. It makes it easier to sell your home and provides it with a good, finished appearance that you can be proud of.

Numerous low-cost home upgrades can increase the value of your home. Here are some suggestions to assist you:

• Refresh the front door and porch floor with a fresh coat of paint

• Clean the front windows and power wash the walkways

• Place a bright mat in front of the door

• Update your outdoor lights

• Create a seating area with outdoor chairs

• Make sure the pool is in good condition

• Get the garage in order

One of the main selling elements of a contemporary home is the outdoor area. Small touches can make a big difference in how much money people think your house is worth.

Adding a couple of porch chairs close to the campfire will highlight the usable space available for outdoor living. Maintaining a decent garden can make your contemporary home appear appealing and lovely.

Your Living Area

The first impression is crucial, and increasing curb appeal might help you sell your property more quickly. However, maintaining excellent living space is equally significant to wow potential homebuyers once they enter the house.

Spotless walls and sparkling floors can help leave a strong and lasting first impression on the buyers. A fresh coat of paint, some texture, and a dash of personality can make all the difference to your property.

Modern Upgrades

Many homeowners are tempted to make costly repairs to boost the value of their homes, but most renovations are a waste of money.

As a result, you should concentrate on making significant adjustments and additions to your property that will make it more appealing without costing a fortune.

• Kitchen: Upgrading your outdated kitchen will significantly boost the selling value of your modern home. To make your kitchen more open and roomy, consider removing the walls. Energy-efficient lighting and fashionable fixtures can help you earn more brownie points and increase the value of your home.

• Bathrooms: Outdated bathrooms can deter many purchasers, especially those looking for move-in-ready homes, from purchasing a contemporary property. Additionally, a floating vanity, ambient lighting, modernized fixtures, and fittings can all make a significant difference. 

• Living room: The living room is one of the most significant areas of your modern home. It should appear warm and inviting to pique the buyer's interest in the property. To optimize the attraction of your indoor space, get rid of separate dining rooms and create a wide open-plan living space.

• Bedroom: By giving your bedroom a fresh coat of paint and adding modest decorative features, you can beautify it and turn it into a quiet refuge. Allow sunlight to flood your environment, illuminating it and clearing it of clutter. Add some plants for a more natural look.

Before making any changes, you should seek advice from a specialist. Also, if your Realtor recommends any repairs or replacements, you should do them as soon as possible. The goal is to increase the appeal of your home so that it sells faster and for a higher price.

Organizing and Staging Your Property

You should expect potential home buyers to knock on every door. They might be interested in learning about anything, from closet space to attic size. As a result, you should de-clutter your home and ensure that everything is in order.

Staging your modern home can also make it more appealing to potential buyers. You might want to depersonalize the room to let potential purchasers imagine it as their own. Remove any holes, scratches, or scuffs that can put off a customer. You should:

Deep Clean Your House

It may seem obvious, but a prospective buyer would never want to buy a house with dusty floors, scratched walls, or grimy surfaces. To make your place look spick-and-span, you must deep clean every room on your property.

Your entire home will be disinfected and cleaned during a deep clean. It would be ideal if you vacuumed the floors, dusted the baseboards and doors, and cleaned the windows, among other things.

When a potential buyer comes to see your home, make sure it smells great, but don't use harsh perfumes.

Declutter Your House

Chaos and disarray can instantly put off prospective purchasers. A clutter-free room can make your home more appealing and allow you to exhibit your property in the best possible light.

They will be able to notice the highlights of your home and leave an impression of the house being more spacious. Decluttering will help you make the most of the space in your home while also improving the aesthetics.

Organize your belongings into three categories: items to keep, donate, and discard. This will help you arrange it better.

Light Up Your Space

Lighting can make or break the appearance of your home. When presenting your property, lighting is a crucial component that should never be overlooked. It enhances the qualities of your property, making it appear more spacious and, as a result, more appealing to potential buyers.

Replace or repair any faulty or obsolete lighting fixtures. To modernize your environment, you can also use smart LED lighting. Allow natural light to flood the room by opening the blinds and drapes. Turn on all the lights to brighten the room and maximize the chances of getting a good offer. 

Depersonalize  Your Space

One of the most important goals of the home staging process is for buyers to imagine themselves in your property. As a result, you must depersonalize the interior area of your home.

It will entail putting away all your personal belongings, such as family photographs, awards, trophies, toys, and more. Homebuyers don't want to see your personal belongings when looking for their dream home.

You must remove your personality from the house so that potential buyers can envision reflecting their personalities.

Define Your Spaces

Every room in your house should have a defined purpose. The kitchen, baths, and master bedroom must all be taken care of. However, you'll need to be creative when it comes to a finished basement, extra rooms, and living space.

For example, you could turn the extra space into a home office or a media room. You can use the finished basement as a home gym, a home theatre, or a luxurious bedroom. You can convert the spare room into a guest room.

You can also rearrange the furniture in your living room. Set the dining table around the kitchen island, for example, to free up valuable living room space. Speak with your real estate agent about these potential changes to maximize your home's value.

Finish With a Sprig of Greenery

By including a gorgeous touch of nature into your home staging, you can take it to the next level. Indoor plants add a sense of freshness and warmth to your home. You can put your plants on a bookshelf or a rack.

Hanging house plants in a room's corner is also a good idea. Don't be scared to think beyond the box, though. For example, you can suspend plants from the ceiling or use a wooden box to grow indoor-friendly vines to save counter space.

Hire A Skilled and Experienced Realtor

Having an expert Realtor on your side has several benefits, including making it easier to sell your property. These experts are more knowledgeable about the real estate market and can help you sell your home faster and for a better price.

It is, in fact, the most vital guideline for an easy and stress-free house selling process. A professional can assist you in obtaining the best price for your contemporary property in several ways.

A Realtor will price your home appropriately and objectively, ensuring that it sells quickly and for the best possible price. Properties that sit on the market for an extended time lose value. Therefore an expert Realtor will ensure your property doesn't sit on listings for long and sells quickly.

Furthermore, if you deal with a top Realtor, they will have an extended network and an internet platform to promote your home and show it to thousands of potential buyers. As a result, you can anticipate a sale in a matter of days.

Skilled Realtors not only list but also advertise your home. They offer personalized assistance and develop a marketing strategy for your home. They use tried-and-true methods to help you get top money for your home.

Your Realtor will handle all marketing efforts, from taking stunning photos to creating a virtual tour to ensuring that your home sells quickly and for the highest possible price.

Paperwork

Many homeowners are so focused on selling their homes that they overlook and forget the legal work needed. You cannot sell your home without first contacting your local government. Doing so can lead to grave consequences in the future.

You'll also need some paperwork before you can officially list your home for sale. Make sure you have all of your paperwork in order before you put a listing online or share property details with potential buyers.

This entails notifying the appropriate authority of your plan to sell, acquiring a No-Objection Certificate and an allotment letter, and putting together your permits, warranties, a title deed, and invoices.

If you're not sure what documentation you'll need at this point, consult a Realtor who can guide you through the process swiftly.

If you're looking for a reliable and experienced Realtor to help you sell your house, look no further than Dallas Contemporary Homes. We have qualified and experienced Realtors who will help you find the best deal when buying or selling a property.

Whether you're based in Bishop Arts, Bluffview, Deep Ellum, Knox Henderson, or any other stunning part of Dallas, our experienced Realtors can help you close the deal as soon as possible.

Get in touch with us for a smooth experience.

Purchasing a new house is one of the most stressful experiences a person can have, but it is also an important life milestone. It's easy to become overwhelmed by such a significant financial investment and life decision.

It's a substantial investment that necessitates careful thought and planning. As a result, it's vital to organize your house-hunting procedure as you navigate the real estate market.

To make things a little easier for you, we've compiled a list of a few things to avoid any pitfalls that can make your house-hunting journey stressful.

Price

Your financial situation and budgetary constraints are the most significant factors influencing your home buying decision. Your new home must fall within your budget. As a result, your budget is likely to be the most significant factor to consider when purchasing a new home.

It's one of the few questions you need to answer before beginning your property hunt. How much are you willing to pay? How much can you spend? What are the worst-case situations you can think of? Will you be able to stretch your budget as far as possible?

Before you start looking for a home, it's significant to answer all these questions. Don't waste your time looking at properties beyond your price range. You'll also have to consider additional costs like home inspections, realtor fees, and others. You also have to ensure you've got enough finances for renovations and necessary upgrades.

Location

You must first pick where you want to live and which neighborhood you want to settle in. While it may appear to be a simple decision, it will be influenced by several factors. You may choose to relocate closer to local retailers, your workplace, the hospital, or friends and family.

You might prefer living in the suburbs to avoid the city's noise and stress, but you'll need to think about how you'll get around and commute to the places you'll need to go frequently.

Your home's location is crucial since it has a significant impact on your quality of life throughout your stay. Take into account the property's proximity to major highways and the flow of traffic. Take a peek around before you depart to see whether there will be any noise or activities that might disturb you during the day or night.

Are there any public nightclubs, pubs, arenas, or clubs nearby? Is public transportation readily available, and does the town fall within any flight paths? You may like a quiet, remote setting or a fast-paced, dynamic lifestyle. Whatever you decide, make sure the home you're considering buying fulfills your requirements.

Size

It's vital to consider how much space you'll require while looking for a new home. Buying a home is an investment that you will most probably make just once in a lifetime. This is why, it must meet your space requirements.

Are you thinking about starting a family? Do you plan on getting a pet, or do you already have one? Are you planning on staying with your parents?

Everything must be considered and planned for, including the desired number of bedrooms and bathrooms, as well as the amount of storage space you need. If you enjoy hosting guests and throwing parties, be sure you have enough space to do so. A spacious backyard is ideal for this.

Also, if you're thinking about having a pool, be sure you have enough room and permission to install one. You can find a property that you can expand in the future by adding more bedrooms, bathrooms, or kitchen space.

These are all important topics to consider and they will necessitate some planning because you will not be buying a new home every time you need something new. If you see the potential to expand the property in the future and your space can sustain it, you don't need to have everything you'll need right now.

You can begin with a property that meets your immediate needs and then expand as needed later. This is also quite convenient from a financial aspect.

Downsizing vs. Upsizing

When you buy a new home, it's either because you need more or less space. You'll have to decide whether to declutter or acquire something for your new extended area. One of the most important considerations before buying a new house is to decide whether you're moving to increase or decrease your living space.

Downsizing and upsizing both necessitate planning and preparation to make the transition as stress-free and painless as possible. You'll need extra storage, living space, and overall space if you plan to expand your family, so choose a home with more area than your current one.

You might want to downsize if you're relocating after your children have graduated from high school, as two people won't require as much space. If you're low on cash, you might want to consider downsizing.

Timing

When it comes to purchasing a new house, timing is crucial. You'll need to determine how much time you have to close the deal and whether you're on a tight schedule.

You might be buying a new home and selling your old one at the same time, which means you'll be exchanging keys to your new and old homes.

You should also keep an eye on the present state of the market. Is real estate becoming more valuable or less valuable? You should consider selling when the market is at an all-time high in terms of pricing. For buying, wait until the market is at its lowest point to close the best deal.

Functionality of Appliances

Purchasing new home appliances, in addition to the cost of your home, might break your bank. That's why it's crucial to inspect the model, condition, and style of the appliances that come with the house.

Just because they look brand new doesn't guarantee they're in operating order and functional. It's possible that the homeowner purchased these appliances to attract potential buyers.

Therefore, it's significant to ensure that all equipment and fixtures are functional. From the washer to the refrigerator, double-check all the appliances in the property you're interested in.

Pay special attention to the property listings to see what kind of household appliances you'll be getting, and double-check them when you arrive to see the house.

Consider The Age of the Property

The more money you have to spend on repairs, upgrades, and maintenance, the older the home is. As a result, older properties maybe a tad bit expensive.

According to a survey, 41% of Americans prefer new homes to older ones. Some homebuyers may choose an older home that they can repair. It all boils down to your particular tastes and, of course, your budget.

Availability of Public Transportation

Your home should be in a convenient location and near your workplace or school. If you live away from the downtown, the costs of getting to the bus terminals or the metro can quickly pile up.

Proximity to Workplace

You'll need to choose a suitable neighborhood close to your workplace to reduce the commute time and costs. This might sound like a very insignificant factor but plays a major role in improving your quality of life.

Traveling long hours daily to your workplace can quickly over exhaust you, resulting in you getting irritated and even ill. Moreover, you may even have less time to spend with your loved ones.

On the other hand, a quick 10-15 min of travel time will help improve your work productivity as well as keep cut down your traveling cost significantly.

Proximity to Fun and Leisure Activities

Everyone needs to unwind and enjoy themselves by participating in certain recreational activities. You might have a pet that needs a daily walk, or maybe the doctor has advised you to brisk walk regularly.

Out of groceries before your monthly run? A quick drive down the lane and you're good to go with the basic needs. Imagine having to drive for 45 minutes just to get a carton of milk. Draining, isn't it? Therefore, it's critical to ensure your home is close to shopping stores, gyms, parks, restaurants, and other amenities you'll need on a regular basis.

Flood Danger

You don't want to live in a region that is prone to flooding. Second, if you plan to sell your home in the future, keep in mind that a home in a flood zone can lose value over time.

If you buy a flood-prone home, you may also have to pay high insurance costs. So choose wisely when it comes to your ideal home! You not only put your life but your loved ones, your possessions, and everything at risk if you’re buying a home in an area that’s prone to flooding.

Safety and Security

Investigate crime rates, ask locals about possible burglary instances, and make sure your new neighborhood is well-lit at night.

This will affect your property value if you plan on selling it anywhere in the future. Therefore, it's much better to avoid buying a property in a shady neighborhood, even if it's available at a low price.

Financing Options

No matter how much money you save, you will almost likely not be able to buy a property with cash. However, this should not deter you from obtaining your ideal property.

It's time to check out your funding options. A credit check reveals how much money you've put aside for your dream home so far. For the remaining amount, you can consider borrowing money.

To get the money you need for your dream home, work on increasing your credit score. The higher your credit score, the more money you can borrow to buy your dream home.

Apply for a mortgage and have it approved before you buy a house. Pre-approval for a home loan simplifies the process and helps you take advantage of better rates.

Here are some options for fund your dream home:

• Through Private Lenders

Lenders who use their money to fund investments for individuals and earn interest on such loans are known as private lenders. They are independent of any financial institution or bank and interact directly with borrowers.

They set their lending terms and conditions, giving them far more flexibility than traditional banks and financial organizations. You're a good candidate for private lenders if your investments have the potential to pay off.

Individual private lenders are willing to take the risk of giving money to people with bad credit, so you don't have to be concerned about your poor credit profiles when approaching them for a loan.

However, they do demand higher interest rates than your local bank, especially when they're willing to take the risk of lending you money that the bank has turned down.

• Obtaining Hard-Money Loans

For real estate deals, people often go for hard money loans. It's a bridge loan from a private lender or institution rather than a bank.

Hard money lenders use the property's value as collateral, making the borrower's creditworthiness irrelevant. If the borrower defaults, the lender will always be able to collect their money through the collateral, resulting in a profitable transaction.

It's one of the most effective ways to raise funds rapidly, but it comes at a high cost. This loan is far more expensive than the other financing choices available, such as government loans or bank loans. The higher cost is offset by a speedier approval process, quick access to funds, and a more flexible repayment system.

If you're looking for your dream house in Dallas, TX, look no further than Dallas Contemporary Homes. We’re well-known for our exclusive listings and attentive approach to the home-buying process.

We help you find the best properties for sale in Lake Highlands, Downtown, Kessler, or Lakewood. 

Our Realtors are expert in analyzing and evaluating real estate transactions and help you get your dream house within your budget.

Contact us to find your dream home today!

You've spent a significant portion of your life at your home and created many memories there. Hence, selling it can be a difficult decision to make. But, as it's said, life goes on, and moving on is a natural part of life. You'll have to relocate and let go of your place at some point.  

Just like letting go of your previous home, buying a new one can also be an emotional rollercoaster ride. You'll have to ensure you get the best for your family since relocating, again and again, is not economically viable for you. So you have to ensure you get all you want in your dream house.

You understandably want the best bargain possible for your wonderful home. A real estate agent can assist you with this. However, you should thoroughly lookout for a reliable real estate agent to make your buying or selling process as smooth as possible and not a bumpy ride full of new issues.

Here are some fundamental questions you should always ask your agent to ensure you're working with the best:

Can I View Your Real Estate License?

This simple inquiry assures that you're working with a qualified and accredited expert. No professional agent will be reluctant to offer you proof of their ability to sell or buy properties.

If you find someone hesitant or acting shady, feel free to move on, as this is the most prominent red flag for you to notice.

How Many Homes Have You Sold So Far?

Finding out what kinds of houses the estate agent has lately sold will help you figure out their area of expertise. A real estate agent who has sold similar properties to yours is ideal. If an agent has years of experience in your area, they will most likely sell your property quickly.

However, it's not a deal-breaker if they are newer and don't have much experience. Furthermore, because real estate markets are all about connections, choosing an experienced real estate agent can pay off handsomely.

According to the National Association of Realtors, real estate brokers close an average of ten properties every year. It could be a red flag if your agent is well below that. So make sure you find the one that has a stellar record for you to trust.

Do You Have A List Of People That Can Refer You?

Every Realtor should bring references to their kick-off meeting. Inquire about their referrals if they haven't included them in their listing presentation. If an agent can't provide you with a list of clients to call, you need to think twice before hiring them.

References provide you with information about the agent's professionalism from beginning to end. An agent might be knowledgeable, but do you know how that person communicates or stays in touch with you after signing the contract.

This is also one of the most important things to consider. The agent must keep you informed throughout the buying or selling process, which you can know from the list of referrals they bring along.

When And How Often Are You Available?

How quickly can your Realtors show you property when it comes on the market, or how quickly can they show your property to others looking for it are some significant factors to consider.  If your agent is only available on weekends and you reside in a seller's market, the house may be sold before you even get a chance to see it.

It's better to collaborate with an agent that works full-time and not part-time. If your agent works part-time, it's better to look for another one. They should be attentive because the real estate business is a full-time profession.

A competent real estate agent is someone who devotes enough time to service their consumers effectively, helping them find and sell their properties as quickly as possible.

What Is The Current Number Of Clients You Represent?

Inquire well about the number and types of clients the agent serves and has currently on their list. If you're buying, you'll want someone you trust to represent you professionally and to a vast audience.

If you're selling, you'll want to hire a listing agent.  Many agents represent both sellers and buyers, so knowing their current mix is quite helpful in making a decision. You must ensure your agent can efficiently manage multiple listings because you don't want to get lost in the shuffle.

Who Is Part Of Your Network?

One of the advantages of working with a Realtor is having access to their extensive network. A reputable agent can provide you with the names of handy and reliable workers if you require repairs or any other help to close quickly.

Whether you're selling or buying a property, you need to consult several experts for major or minor repairs. At the very least, experienced Realtors should be able to suggest moving companies, house cleaners, a home stager,  a handy worker, an insurance agent, a mortgage advisor, and a real estate lawyer.

Have You Ever Had A Deal Go Wrong, And How Did You Handle It?

When it comes to purchasing or selling a home, there is a lot of stuff going on simultaneously. There's a high possibility of things not going the way you plan and, in the worst case, going out of hand.

At this point, you want your Realtor to think quickly on their feet. They must know what to do if a problem occurs, no matter how big or small. It's a red flag when you ask your agent of a time something has gone wrong in any of their deal, and they answer never.

This isn't possible because the nature of this industry makes this business very prone to mishaps. But the best one is someone who can resolve all those problems timely and not the one who prevents it because that is practically impossible.

Questions To Ask When Selling a Home

Have You Previously Sold Homes In This Region And My Price Range?

Even neighboring areas could be drastically different. One could be a bedroom community for young professionals, while the other might have a lot of things to do in the locality like schools, parks, etc. Each area will attract a distinct type of customer. An experienced and competent Realtor knows who is willing to buy property in your region and how to reach out to them. 

Furthermore, agents must also pitch the community and its benefits to market a home effectively. It's a major plus point if an agent has worked in your unique neighborhood before and is well aware of the pros of your area that attract potential buyers and appeal to them.

How Many Properties Have You Sold In My Neighborhood In The Last Year?

The number of properties sold by a Realtor in the previous year indicates how skilled they are at what they do and how active they are in the market.  Compare their figures to the average of other agents in the area.

A Realtor who has already worked in your locality has a better idea of how to attract buyers and close the deal quickly. They are not only experts in marketing the property but also the neighborhood. 

How Will You Assist Me In Preparing My Property For Sale?

A good Realtor will stroll around your home and make some recommendations to assist you in selling it. The replacement of burned-out light bulbs or a fresh coat of paint may help you sell faster, but be cautious of Realtors who recommend major renovations.

If you sell straight away, you're unlikely to recuperate that money. A professional Realtor will have you save money as much as possible in terms of remodeling and will get your work done quickly without the need to invest much.

What Is Your List-To-Sales Price Ratio?

The list to price ratio is calculated by dividing the sales price by the asking price. It indicates how close the house was sold to the asking price. If the list-to-sales ratio is higher, the agent is good at his work and helps clients get more than the listings. 

A decent list-to-price ratio will vary depending on the locality and market, but you should avoid percentages below 90%. Pricing is tricky. If you don't price your property correctly, you're going to have to sit there and deal with price reductions and a lot more issues.

However, if an agent's ratio exceeds 100%, that's also a red flag, as the agent could use a tactic of undervaluing homes to inflate the price.

Questions To Ask When Buying a Home

How Quickly Can You Schedule A Home Tour For Me?

Homes can sell rapidly in a hot market, often even the same day they are listed for sale. Buyers examine pending listings to get first dibs on new homes as soon as they become available. How quickly can your agent take you on a tour of the property that you like?

If your agent can't arrange a visit within a day or two of the property being put up for sale, you can miss out on your dream property.  Therefore, it’s crucial to ensure your Realtor is prompt with arranging visits.

How Long Does It Take To Close The Deal From Viewing The Property To Closing the Deal?

Finding your dream house isn't a matter of days. It could take much longer if you have a never-ending list of requirements. It could take several months to find the right one and finally close the deal.

While there are no hard and fast rules for how long it should take to buy a house, a skilled Realtor can help speed things up. They'll know which communities offer the attributes you're looking for and may be able to point you in the direction of places you hadn't considered before.

Their negotiation talents will help you beat out other bidders and close the deal more quickly. If an agent gives you a long timeframe of six months or longer, it's better to look out for another one unless you want to dive into a highly competitive market.

What Are The Current Home Pricing Trends And Developments In The Area?

As new businesses set up, schools get established, and demographics fluctuate, communities evolve. The development of communities drastically impacts the home prices in the area.  A professional Realtor maintains track of the local community and can tell you whether an area is better suited for a retired couple or is more family-friendly.

They can direct you to the community that best suits your lifestyle. Having a word with your Realtor about the pricing trends and changes in the community will give you an idea of how competent and well-known is the agent with the current trends.

What Can You Do To Help Buyers Stand Out?

Making an offer isn't enough in a competitive market. Buyers frequently write offer letters introducing themselves and explaining why they are interested in the seller's home. They may offer to waive an inspection or other criteria to attract the sellers towards their offer. 

You must inquire about your agent's recommendations and how they've helped previous buyers stand out.  A decent offer will immediately attract the seller's interest and help you crack the deal.

If you’re looking for a reliable Realtor to buy or sell your property, opt for Dallas Contemporary Homes. We have all the answers to your questions and can help you find the best deals. We're vastly experienced in selling contemporary homes in different areas of Dallas, including Highland Park, Bishop Arts, Lakewood, Oak Lawn and Preston Hollow. Our online platform lists many houses on sale at affordable prices.

Get in touch with us today to get started.

Like all other aspects of life, the COVID-19 pandemic also impacted the real estate market in 2020 and 2021. The prices varied based on the area, but we witnessed major increases in the price of Dallas homes. This created a red-hot seller’s market where homes started to sell in just a few hours after they were posted.

What does the future hold for the Dallas market in 2022? More of the same or something new? Let’s find out!

High House Prices Will Continue

According to house experts at Zillow, the popular home-selling platform, home prices will increase, but not as rapidly as they did in 2021. Interest rates will remain relatively low, which means that home buyers will be able to get more home for their buck. Therefore, 2022 is the right time to buy your dream house!

Home Renovations and Remodeling Won’t Stop for A Long Time

In 2021, we witnessed people investing large amounts of money in remodeling their houses. Moreover, expensive renovations also increased the house’s value, attracting more prospective buyers. This trend doesn’t see to be stopping anytime soon.

Since home prices have increased many homeowners upgraded their homes to stand out. Many homeowners invested in kitchen and bathroom remodels, as these have the highest Return on Investment (ROI).

Low Supply and High Demand

Due to the COVID-19 pandemic and the work-from-home culture, thousands of people started looking for homes in 2021. Unfortunately, fewer houses were being sold, creating less supply and high demand.

Experts say that the issues of low supply and high demand situation will continue in 2022. This situation has benefited house sellers as they can sell their homes for high prices. Another group benefiting from this situation are house architects and construction companies. These companies are building homes as fast as possible to meet the increased demand in the market. However, due to the pandemic, there is a labor shortage in the market which is preventing them from keeping up with the demand.

Young People Will Purchase Multiple Housing Options

Many young people, especially Millennials and Gen-Z, will purchase more than one house, based on the flexible working conditions. People who already own houses near their workplaces will buy other places as investments or vacation spots. Young people are also using virtual home buying platforms like never before!

Work/Life Balance Will Be a Factor Major Real Estate Decisions

Amidst the pandemic, thousands of companies asked their employees to work from home. This created a flexible work environment across America, where employees don’t have to worry about traveling a lot to commute to work.

In the past, many employees would prefer renting or buying houses near their workplace to save time while going to work. This situation has changed, and now employees are buying houses based on the price and the space a house offers. Large houses with home offices and multiple working zones are currently in demand. People prefer moving to places where they can live and work comfortably instead of staying in a cramped space near the office. Therefore, neighborhoods with large houses, outdoor living spaces, and many rooms will be more popular in 2022 as remote or hybrid work will be a must in the future.

With the Dallas real estate market blooming in 2022, it’s time for you to make some profit and sell your contemporary house. Get your house added to the list of houses for sale in Dallas at the online platform of Dallas Contemporary Homes, and see your house get sold quicker than ever!

If you’re a home buyer who hasn’t been able to purchase a modern home due to the tough competition, we’ve got you covered too. Visit our website to look at homes for sale in Dallas, and you’ll end up with your dream house in no time!

Buying a new house is a huge investment. Not only will you spend a lot of money, but you and your family will also stay there for a long time, making a lot of memories. Hence, the house you select should be comfortable, appealing, and meet your family’s needs. However, keeping all these things in mind, and considering them when looking for a modern home in Dallas, TX, can be exhausting. But we can help!

Follow this ultimate home buying checklist as you start searching for a new home.

1- Set a Budget

It’s a commonly known fact that your budget is the most important factor when it comes to buying a house. However, setting a budget isn’t that simple.

The first factor determining your budget is how much you’ve saved for a down payment. Based on the current market conditions and the housing prices and regulations, we recommend that homebuyers save at least twenty percent of the house’s price as a down payment. By paying twenty percent of the home price as a down payment, home buyers won’t have to pay mortgage insurance when getting a home loan.

Moreover, you should also consider other factors like your income, your job, the number of people that earn in your house, and any other assets you own while setting a budget. If you don’t have a steady income, or you’re the sole earner in your house, setting a higher price range will be useless. In addition, you can also enter your credit score, income, and preferred lender in an online home loan calculator to get a better idea of the right price range.

2- Get Loan Pre-Approval

No matter how much you save, you likely won't be able to save enough to purchase a house with cash. But this shouldn't stop you from purchasing the house of your dreams. Once you have calculated your budget and analyzed your financial situation, you should start looking for lenders. Ensure that you've proof of income and credit statement when meeting potential lenders. Make sure you interview several individuals to ensure that you're getting flexible loan terms alongside a good interest rate.

Once you've found a suitable lender, apply for pre-approval for a loan so that you can start your house hunt. This way, when you find a home you like you’ll be able to make a strong offer to the seller.

3- Start Looking for Your Dream House

Finally, the step that you have been waiting for – the great house hunt! With the price and the loan set, you should start looking for a suitable house that fits your budget. Start by looking at listings on online platforms. We aren’t wrong when we say that you can find any kind of house on an online platform, from a castle to a house-on-wheels!

Moreover, online platforms give you a better idea of the cost of the house you’re interested in. At the same price or category, you'll be able to get thousands of different available options.

4- Hire a Real-Estate Agent

Once you’ve got an idea of the kind of house you want, it’s time for you to start visiting houses. However, you need to have a real estate agent by your side during these house visits. Search for local real estate agents in your area, and reach out to them.

Prepare some questions beforehand about the market, and openly communicate about the kind of house you want. Based on the conversations, select the right real estate agent and move forward with them. A real estate agent will assist you in scheduling house viewings, looking for other houses, and negotiating the price when you make an offer.

5- Making an Offer

The next step from the home buying checklist is making an offer on the right house. An official offer includes your loan pre-approval letter, an offer expiration timeline, the price you want to pay for that house, and other closing details.

Moreover, you’ll also have to pay some money, equal to one or two percent of the house’s value, to show that you’re interested. However, do remember that an offer isn’t always accepted, and you’ll just have to move onto other houses if that happens.

6- Hire a Home Inspection Team

However, if your offer gets accepted, Congratulations! Remember to hire a home inspection team ASAP. The team will check your new house thoroughly and let you know if there are any major structural issues, pest problems, and more. 

Based on the inspection results, you might be able to negotiate the house’s price.

7- Close the Deal

Finally! Closing the deal includes finishing the paperwork and fulfilling the legal requirements. You’ll also make your down payment and take care of additional charges like the inspection fee and closing costs. After closing the sale, you’ll have to wait before the previous owner moves out and gives you the keys.

Look at Contemporary Homes for Sale in Dallas, TX

After going through the checklist, we can safely conclude that the most important stage of buying a mid-century modern home is searching for the right home and hiring the perfect real estate agent. At Dallas Contemporary Homes, we help you with both of these steps. Through our online platform, you can look at hundreds of houses for sale in Dallas, TX.

Moreover, our Realtors will also help you find your dream Dallas modern home within your budget. Reach out to us today and let the great search begin!

Over the past couple of decades, technological developments have dramatically transformed all business industries, and the real estate market isn’t any different. After all, in the current fast-paced world, no one has time to opt for traditional methods of home purchasing.

Technological developments have proven to be a game-changer for the real estate market. The USA real estate market was estimated to be worth 35 trillion dollars in 2018. Home-buying has not only been made easy, swift, and accessible from the comfort of your home, but there's also a boost in business during the off-seasons, with homes being on sale and purchased at a faster rate than imagined.

If you’re curious to know more, here are the technological trends that have changed the real estate industry.

What is Real Estate Tech?

By nature, the real estate industry is heavily reliant on data. But what kept the industry behind others, is that the data wasn't available to the public. This made it difficult for anyone to break into the real estate market and buy or sell properties easily.

In the real estate industry, technological evolution began when database management systems and computers were introduced and adopted by businesses.

With the introduction of computers in the business during the middle of the 1980s, there was an alternate investment in the real estate industry. This led to the easy accessibility of data to the masses. This quickly became a game-changer for ordinary people looking to invest in the real estate market.

Thus began the start of Proptech.

What is Proptech?

Simply put, proptech means property technology. This means that property technology makes selling, buying, renting, and managing properties a lot easier with the help of technological advancements.

Proptech could virtually be anything like AI that helps with machine learning software to assess and help conduct business through automation. Or even software like portals for property listings and hardware such as sensors.

Proptech has essentially and effectively brought the real estate market into the palm of anyone’s hands and made it more easily accessible to Realtors and ordinary people. It has also helped the real estate business boom during the pandemic. Technology like online listing, communication, chatbots, automation, and virtual reality house tours helped businesses streamline operations and work even amidst the pandemic.

Proptech companies began springing up everywhere. Though they were more popular in the early 2010s, the number of unique investments has constantly been on the rise.

In 2018, more than 18 billion US dollars were raised by global proptech companies. Moreover, in 2018, there were more than 58 proptech funding rounds in the US.

Why Did the Technological Evolution in the Real Estate Industry Boost Recently?

Technological developments have been quickly adopted by most real estate businesses due to the advent, rise, and common use of the internet among people.

The millennial population, which has now become the new wave of home buyers’ demographic, can be credited for the change. Millennials are now representing the biggest portion of home buyers since 2018. Though millennials were late in buying homes, they have made waves in how the real estate market worked.

Of course, to tap into the market, Realtors had to change their strategies too.

According to the real estate trends report of 2018 that talked about the global-emerging trends in the industry, the shift has been massive. It described how in 1981, a good majority (around 22 percent) of homebuyers searched for possible properties for sale in the newspaper. By 2018, more than 44 percent of people were going online to find an online property listing.

Anyone looking for properties online would use a phone to access listings. This means that websites that are optimized for smaller screens have become more common and are ranking higher. According to the same report, around 58 percent of millennials found the home they wanted to buy online. The number went up steadily, with 46 percent of generation Y finding their home on mobile devices. And only 33 percent of young boomers consulted their phones to find their homes. This makes around 76% of all homebuyers who had found the home they wanted to live in on their phones.

The number of people with access to technology is only going to rise, with the next generation, younger millennials, and generation Z mostly dependent on their mobile devices.

Another factor that affirms this is the continuous growth in proptech from VR headsets and robots that allow buyers to conduct home tours from the comfort of their homes. This also includes viewing online listings and easy-to-use home selling portals on the internet. The pandemic has also added a great incentive to rely on technology for real estate transactions to minimize physical contact.

So, what are these technological advancements that have altered the real estate industry as we know it? Without a moment more to waste, let’s dive in and find out more!

Online Listings

To sell a home, you have to market it and publicize the property first. Before technological advancements, the only way to sell or buy a home was through the newspaper. This old-fashioned technique was extremely limiting and a tiring way to see less than half of the options that were available. Because of how taxing the process was, people would only have the energy to go through newspaper listings during the summer months or over the weekends. Moreover, it was also annoying for sellers who could only market their property once a week.

With extensive online listings, buyers now have an array of properties to pick from on a reliable and accessible platform. It’s also made searching for homes easier with the built-in filters that could help select prices, location, etc.  This means that buyers don’t have to settle on what works anymore and buy their dream homes easily and quickly.

Online listings have made it easier for sellers to access a larger number of buyers and attracts them. By enabling online listings, transactions and communication happen quickly between sellers and buyers. The sellers can market their property online without any hassle and can even modify data later as they please. The swiftness of online listings ensures that negotiations and transactions are swift and smooth.

Video Tours

When it comes to virtual reality, many people connect it to just gaming. But it’s become a lot more than that over the past few years! Virtual reality has a lot of practical qualities that are extremely beneficial for a number of industries.

This relatively new technology enables businesses to offer their customers a brief look into their services. The addition of virtual reality has been a total game-changer for the real estate market as well.

The investments into proptech were estimated to be about 23.75 billion US dollars in 2021. This meant new tools for Realtors to help conduct virtual home tours and minimize physical contact while making it a lot more feasible for buyers and sellers alike.

Video tours help save time for buyers, sellers, and Realtors. The buyers can walk through a home on their phones and see if it's up to their standards, all from the comfort of their own home. The Realtors don’t have to meet every person who has contacted them after adding a new property to a listing. Video tours also cut massively into costs of gas spent reaching the location and visiting various properties. Now, buyers can browse through an extensive listing at the touch of a button.

And if that isn't enough, this cutting-edge technology helps real estate websites get more traffic. And this, in turn, reduces their bounce rate.

Artificial Intelligence

Machine learning is a new state-of-the-art technology that has already changed businesses. It’s proven to be a holy grail for businesses, and real estate is no exception.

AI-enabled apps and machine learning interfaces help Realtors gather customer data which helps them improve their marketing and lead generation strategies. They can help file and lodge client data, analyze, sort, and show homes that are of specific criteria to clients by assessing their needs and creating targeted ads.

Thanks to these technological developments, chatbots can help businesses give leads personalized information about price range and location. This also helps buyers and sellers as they don't have to wait and move on when a Realtor isn't available.

AI also has the incredible ability to analyze patterns in large amounts of data, which helps Realtors predict property market values.

Moreover, real estate AI solutions can make transactions and the process of buying and selling homes much easier. This includes robots that give immersive virtual house tours to interested buyers, streamline processes through automation, and use predictive analysis to find leads through large amounts of data.

Thanks to AI, brokers don’t have to rely on factors relating to a neighborhood when estimating prices. AI and mathematical modeling help them estimate prices more efficiently and accurately than before.  

Data Analytics

Finding leads can be difficult but managing and keeping up with leads isn’t only daunting but an almost-impossible task at times. It’s probably the most necessary technological advancement for the real estate industry. A good majority of the decisions made in the real estate market are based on data or are somehow data-driven.

Data analytics has helped the industry adapt and move ahead of traditional and archaic methods of conducting real estate transactions.

This helps real estate agencies and Realtors get insights into their business and help them understand the buyers and sellers. In turn, this helps them alter and develop their services to better suit their clients' needs and help provide them with tailored solutions that suit them. It also helps them mitigate any risks with the help of forecast, effectively helping them make profitable decisions.

Moreover, data analytics helps Realtors use these data insights to come up with better marketing strategies. This helps them improve customer service, reach, and ensure proper engagement with the clients. And if that isn’t enough, it also stops any market-related risks that would be taken due to data assessing situations.

Mobile Optimized Websites

It’s no secret that people use their phones more often than they use computers or laptops. This is why websites optimized for phones and tablets have made real estate, listings, and communication with sellers easily accessible for most buyers.

Thanks to notification settings, buyers can also instantly be notified if there's a new home put up on listings matching their criteria. Moreover, sellers can be notified on the go whenever a buyer is interested in their property. This helps both parties move ahead without worrying about missing anything.

Selling and buying houses can be difficult sometimes. However, technologies like online real-time listings and virtual house tours can streamline the process and make it much easier for all the parties involved. Moreover, working with quality Realtors can ease the hassle and make buying or selling a home a stress-free process.

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A booming economy, consistent population growth, and a high percentage of the millennial population have skyrocketed the demand for properties in Dallas, boosting the real estate market here. Property prices in Dallas are expected to increase by 16% by the end of 2021, outpacing the three other major Texas metro regions in terms of home sales growth.

Dallas is a top location for real estate investors as it appeals to a wide range of people. Millennials come for big-city excitement and jobs, families settle in the charming suburbs, and retired people enjoy the soothing climate and high standard of living.

It’s the most buzzworthy and recognizable metropolitan area in the U.S. Here’s how the market trends are fluctuating this year, making Big D a prime location for your next property purchase.

Prices Are Better Than National Averages

According to D Magazine, the real estate market in Dallas is the strongest it's ever been. Today's housing prices in Dallas are better than the national average.

The median house purchase price in the Dallas metro region in 2020 was $263,688, whereas the national average was $254,000. This means the median purchase price is roughly about 4% more than the national average.

However, the median price of a property in the neighborhoods where investors tend to invest was $165,000 in 2020. This is 35% less than the national average of $254,000.

This demonstrates that inexpensive housing in Dallas is still available and you can find affordable homes here.

You Can Earn a Passive Income

Investing in Dallas homes provides you with an opportunity to earn a monthly income in the form of passive income.

The average monthly rent for a property in Dallas is $1563 or 0.59% of $254,000, which is the buying price. On the other hand, the monthly rent in the neighborhood is about $1400 or 0.85% of the purchase price of $165,000 [sf1] 

Dallas provides a fantanstic possibility for you to generate considerable monthly rental revenue.

Increasing Housing Values

In the last six years, housing values in Dallas have risen significantly and are expected to grow further.

The average property value in Dallas has increased by 55% in the last six years (2014 to 2020). Home values in other areas across the United States increased by only 36% during the same period.

Home values in Dallas are rising faster than in other cities throughout the country.  This trend will continue as long as job growth and a low cost of living continues to allure people to relocate here.

Increasing Rental Costs

Today, the rental costs in Dallas are also rising at a faster rate than in other U.S. states.

The average rent for residences in the Dallas metropolitan region has climbed by more than 25% in the last six years. During this time, rents in the United States soared by 23%.

Rental prices are rising in the face of growing demand. This trend will carry on as people and businesses continue to relocate to the Dallas metro area.

Rapid Population Growth

According to the Dallas Business Journal, the population of Texas continues to grow as individuals flock to the city in droves.

Last year, the population of the Dallas metropolitan region increased by about 2%, helping Texas gain more citizens than any other state in the U.S.

Key population stats include:

•        The city of Dallas has a population of over 1.3 million people, with a metropolitan population of over 7.5 million.

•        The population of Dallas increased by 2% just last year.

•        Dallas is Texas' third largest city and the country's fourth-largest metropolitan area.

•        Rockwall counties, Kaufman, Denton, Collin, and Dallas County, are major counties in the Dallas metro area.

•        Dallas-Fort Worth is expected to witness the largest population growth in the country this decade, with a predicted increase of about 18% by 2029.

•        Dallas has a median age of 35.2 years, with 43 percent of people aged 20 to 49.

•        The median household income in Dallas is $72,265, with a per capita income of $36,274.

Growing Employment Opportunities Attract More People

Due to the COVID-19 outbreak, Dallas reportedly lost 125,000 jobs in the last year. Despite the epidemic, the job market in Dallas performed 46% better than most other U.S. cities, proving Dallas is still a job hub. It continues to be the tenth best place in the world for careers and business.

Dallas remains a center of jobs while many other regions of the country are still recovering. These new employment opportunities in Dallas have sparked a land rush. As a result, Dallas and the rest of North Texas have become one of the country's fastest-growing cities.

The stats show that

•        The GDP of the Dallas-Fort Worth-Arlington, TX MSA is over $523.9 billion, up nearly 62% in the last ten years.

•        Fort Worth's employment growth is 2.89% every year, with more than 3.8 million people employed in the metro area.

•        In the past year, median family incomes in Dallas have climbed by more than 3%, and average property values have increased by more than 11%.

If you’re visiting Dallas and considering investing in property here, look no further than Dallas Contemporary Homes. We’re your trusted Dallas realtors with exclusive listings of top properties available in the local market.

We make the process the buying and selling of modern homes in Dallas, TX, easy. Our agents will help you find a perfect home for your investment portfolio in areas around Dallas, including Preston, Knox Henderson, Lake Highlands, and Downtown.

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