New Year, New Home Goals:
How Your Realtor Can Help You Renew Your Space
Ah, the New Year—that magical time when we all vow to drink more water, finally use the gym memberships we’ve been “thinking about,” and tackle all the big goals we’ve put off. It's a post-solstice-holiday-hope-fest. For good reason. We’re more likely to slow down, take some time, and reevaluate what we want out of the next year or the next phase of life. For many, that means a new home—or, in this market, it might just mean a new concept for the home you’ve got.
If you’ve been eyeing your space thinking, maybe it’s time for a change, you’re not alone. While buying a new home is always an exciting journey (and we’ve got a great team ready to facilitate that process), perhaps this year is about taking one step at a time—prepping your house for the sale that’s yet to come or simply making it more enjoyable for yourself now.
Here in Seattle, the housing market remains one of the most competitive and expensive in the nation. According to the Puget Sound Business Journal, it is currently the fifth most expensive market in the nation. With a median sales price of $751,417 in November (a sharp increase from $664,000 in November 2021), making a move isn’t always the easiest—or most affordable—choice. Add to that mortgage rates hovering at 6.91 percent, and it’s no wonder that many homeowners are choosing to stay put.
What foundations can you lay this season, knowing that building something meaningful takes time and the right support?
According to ATTOM Data, the average tenure of homeownership is now at an all-time high of 8.09 years. Many homeowners are staying in place, discouraged from selling by what Diccon Hyatt refers to as “golden handcuffs,” where low fixed-rate mortgages discourage homeowners from giving up their rates for today’s much higher ones.
“Why exchange that favorable rate for a new mortgage at nearly double the interest rate unless absolutely necessary?”
But renewal doesn’t have to mean relocation. Instead, this might be the perfect time to consider renovations that not only make your home more enjoyable to live in but also increase its value down the road. Strategic remodeling projects like electric HVAC conversions, garage door replacements, and steel entry door upgrades can deliver significant returns on investment, with ROIs exceeding 100%, according to Remodeling magazine’s "Cost vs. Value" report.
“The ultimate reason to take on any remodeling project is the enjoyment you’ll receive from living in an updated home, but many projects also offer a substantial payback at resale.”
Whether it’s a minor kitchen remodel (with an ROI of 85.7%) or a manufactured stone veneer upgrade (102.3% ROI), smart improvements can breathe new life into your home while positioning it for future success. If you’re a homeowner considering updates, I can help connect you with trusted contractors, landscapers, or even guide you through financing options like home equity loans or cash-out refinances.
Of course, if your New Year’s resolution is to find a fresh start in a new space, I’m always here to help. Whether it’s navigating the sale of your current home or finding that perfect new one, I’d love to be part of your journey. And if you’re not already a homeowner, I can help you prepare your “energetic space” by setting financial goals and exploring innovative financing options to get you to homeownership in 2025. Hit me up if you just want some palo santo or sage!
Here’s to a year of renewal—whether that means a new you, a new home, or just a new backsplash. Happy New Year!
