A 20% down payment is a significant chunk of change. But with enough time to prepare and a little bit of creative budgeting, you’ll be able to save up for your new home sooner than you think. Follow these helpful budgeting tips to get started!

Break Down Your Budget

While it’s never a bad idea to start saving for a down payment, it’s an even better idea to analyze your budget before you consider a home purchase. This will help you set realistic expectations and concrete goals.

First, make a list of all of your necessary monthly expenditures — rent, power, water, phone service, student loans, etc. Add these expenditures up and subtract them from your monthly take-home pay. Then, look at everything that is left over and consider what to cut back.

After you’ve taken a look at your spending, determine what home price range (and, consequently, a 20% down payment) you could comfortably afford based on your current monthly budget. Our handy mortgage payment calculator might help!

Set a Concrete Savings Goal

Once you have an idea of how much money you’ll need to put down toward your new home, set a timeline for your savings. For instance, if you need to save up $20,000 for a down payment and want to move in five years, consider setting a savings goal of $335 per month.

Use a finance app like Mint to track your spending and your savings. Apps like these may also provide you with your credit score, which is essential to receiving the mortgage you need.

Get Prequalified for a Mortgage

Setting goals based on your current spending is a great place to start. To take the next step to buying your new home, meet with a lender about prequalifying for a mortgage.

Prequalifying for a mortgage will let you know how much financing you may qualify for — and how much you’ll need to save for your down payment. When you talk with a lender, ask for the maximum amount of financing that’s available to you based on your credit score and financial history. This may open up a lot of options when you’re searching for homes.

Not sure how to find a reputable mortgage broker? Give us a call and we can connect you with a trusted local lender.

Find Creative Ways to Save Money

If you’re having trouble meeting your savings goals for the month, even after you’ve carefully budgeted for the essentials, find ways to cut out superfluous spending or think of ways to earn a little bit of cash on the side. For example, you can:

• Sell gently used clothing and household items at a yard sale
• Substitute a movie streaming service for cable TV
• Collect your loose change in a jar and cash it in every month
• Use coupons while shopping at the supermarket
• Use browser extensions like Honey to save while shopping online

Celebrate Your Accomplishments

Saving for a down payment is no easy task. Every time you reach a major milestone, be sure to congratulate yourself!

Obviously, don’t spend all of that money in one place, but feel free to treat yourself to something special to reward yourself for your hard work.

Consider Home Buying Assistance Programs

Are you still having trouble saving for a 20% down payment? It might be worth looking into home buying assistance programs, such as FHA loans, VA loans, and USDA loans.

How Can We Help You Achieve Your Goals?

We are always available to discuss your home buying plans. Connect with us and we can provide you with the resources and advice you need.

Come spend New Years with us on Hilton Head Island and enjoy a fun filled night “out” or hang “in” at one of our awesome vacation properties near the beach!  Nothing better than to celebrate a New Year in new space!  Listed below are several spots to ring in the New Year in the Hilton Head, Bluffton and Savannah!  From all of us at Hilton Head Properties Realty and Rentals we wish for you a Safe and Happy New Year!

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In the season of giving, many local organizations and businesses often accept donations of clothing, household goods, and other gently used items to help those in need.

Homeowners looking to downsize or preparing for a move (or just clearing up some space at home) can not only pay it forward by donating to a local charity, they can also take advantage of tax deductions. We’ve created this handy guide to tax-deductible items to help you know what to donate and how to write off your contributions.

Belongings and Household Items That You Can Donate

Most organizations have guidelines about the specific items that they accept, but in general, you can donate these kinds of items to local charities:

• furniture, such as beds, desks, tables, and chairs
• clothing, such as shirts, shoes, and new underwear
• appliances, such as heaters, working TVs, and A/C units
• vehicles, such as cars or boats
• building materials, such as doors, windows, and wood flooring

How to Deduct Your Contributions

The IRS allows homeowners to take itemized deductions on charitable contributions on their tax returns. If you have an attic full of items that you don’t use or have several boxes of items that you don’t want to move to your new home, don’t just throw them out! Here’s what to do instead.

1. Find a Charity That Qualifies for Deductible Donations

The IRS’s Exempt Organizations Select Check tool is a great place to start. You can search by city or state to find a list of organizations that qualify for tax-deductible contributions. It’s important to note that donations to individuals aren’t tax deductible.

2. Determine the Value of Your Contributions

Knowing the monetary value of your contributions is essential to writing off your donations on your taxes. Some organizations, such as the Salvation Army and Goodwill, have helpful guidelines about the fair market value of appliances, clothing, furniture, and other household goods.

Before you donate your items, make a list of each item and its value. You can evaluate your items by checking with the organization or, for any high-value items, having them appraised.

3. Know Your Limits

There are limits to what you can deduct for charitable contributions on your income tax returns. If your donations are more than 20% of your adjusted gross income, certain caps may apply based on what kinds of items you donated and to what type of organization.

If you contribute over $500 in items, you will need to fill out and attach Form 8283 to your return. If you make any contributions over $5,000 for items like rare art, collectibles, or real estate, you will also need to have them appraised.

4. Ask for a Receipt or Other Written Record

Once you’ve donated your items, ask for documentation, such as a receipt. Having a record of your contribution will help you know exactly how much you donated (and what to write off on your taxes).

Are You Donating Items to Prepare for a Home Sale?

You’re off to a great start. Clearing out your closets, basement, attic, or other storage space is the best way to lighten the load for your move. We can help you take your preparations a step further.

Whether you’re starting to research the value of your home or are simply considering the idea of putting your home on the market, we’re here to help. Contact us and we’ll provide you with all of the information you need.

Contrary to popular belief, the off season is a great time to buy or sell vacation properties on Hilton Head Island.   Most sellers think that they need to list in the Spring and buyers often think they should plan their purchase with their summer visit.  We have listed the best reasons why the off season on Hilton Head Island is a great time to buy or sell. Read the rest of this entry

If you have ever visited Hilton Head Island, the weather, beaches, residents and natural beauty are very hard to leave behind.  Living on an Hilton Head Island offers residents perks and benefits that make living here worth the big move.  If you are planning on living on the Island someday, we have listed five tips for moving to Hilton Head.

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The U. S. Senate has passed tax reform legislation that could change the face of home ownership.  The House passed its own version on tax reform on November 16.  The members of the Senate and the House now must come together to agree on a final bill.

Thanks to our members’ engagement, REALTORS have helped positively influence tax reform in some key areas.  For example, both the House and Senate have agreed to maintain deductibility of state and local property taxes up to $10,000, and to maintain Section 1031 tax-deferred exchanges in their present form for real estate investments.

If you would like information on this reform please click HERE. Incentives for home ownership and the capital gains tax exclusion on the sale of a home MUST be protected.

‘Tis the season — for goal planning, that is! Many people spend December reflecting on the year and creating a list of goals to aim for in the New Year, and recent home buyers are no exception.

If you’re thinking about ways to preserve that “new-to-you” feeling in your home and keep the clutter at bay throughout the year, follow our handy month-by-month home organization planner.

January: Clear Out Any Cluttered Spaces

Decluttered spaces can keep your home looking and feeling like new (even if it isn’t). While you’re putting away holiday decorations, take some time to tackle any clutter that has begun to accumulate in catch-all spaces, such as closets, the garage, and any rooms that are still full of half-unpacked moving boxes.

February: Create a Home Organization Plan

Detailed planning is a great way to stay on top of your New Year’s home organization goals. Outline a list of tasks to complete daily, weekly, and monthly. This list can include indoor and outdoor maintenance as well as fun tasks like decorating.

Be sure to pin your home organization plan in a conspicuous space, such as on the refrigerator. You can also lighten your workload by divvying up the tasks to other members of the household.

March: Deep Clean Your Home

Kick off the spring season with a thorough cleaning of your home. In all likelihood, your new home won’t need too much TLC, so just focus on the well-used areas of your house: the kitchen, bathrooms, bedrooms, and main entertaining spaces.

April: Show Off Your Green Thumb

Take a break this month. You’ve earned it. Instead of cleaning or decluttering, decorate your home with greenery to usher in springtime. Flowers, succulents, and low-maintenance plants look great indoors.

May: Focus on the Kitchen

The kitchen is one of the most used spaces in a home. Devote the full month to tackling any clutter issues in the drawers and cabinets, investing in space-saving organizers, deep cleaning the stove, and repairing appliances if necessary.

June: Focus on the Bathrooms

Follow the same plan as you did with the kitchen, but this time focus your cleaning and decluttering efforts on the bathrooms. Dispose of any expired prescriptions or toiletries and consider flushing out your pipes.

July: Organize the “Junk Drawer”

After a few months of living in your home, you may start to notice little spaces that collect a lot of clutter. The so-called junk drawer is often a major aggravation to homeowners. Take some time to try and find a new home for the items that have accumulated in this drawer or space.

You can also come up with clever ways to keep the clutter at bay, or at the very least look intentional. Drawer dividers, wooden trays, and small containers can transform any cluttered drawer into a well-organized space.

August: Organize Mail and Other Documents

It’s easy to let papers pile up on the counter or on the desk. First, discard any junk mail that is contributing to the clutter, then sort through the rest of the papers in the pile.

If you don’t have a system in place yet, create a way to effectively manage your mail and other documents, such as a binder or a filing cabinet. Be sure to go through your old documents from time to time and shred what you need to.

September: Reevaluate Your Summer Closets

Now that summer is coming to a close, sort through your wardrobe and figure out what you didn’t wear this season. Consider donating gently used clothes and accessories to a local charity or selling them at a yard sale.

October: Reevaluate Your Organization Systems

Think back to the whole-home organization plan you created in February: Have you been able to keep those resolutions? Are you noticing that you need to complete certain tasks more often than others? Reevaluate your plan and make changes as you see fit.

If you’ve had trouble sticking with your organization plan, take this time before the holidays to pick up where you left off.

November: Pick Through Your Holiday Decorations

As the holiday season approaches and the year winds down, go through your collection of holiday ornaments and other decorations. Keep the ones you use most often and discard any that you have either not used or cannot repair.

December: Focus Once Again on the Kitchen

If you plan to entertain guests for the holidays, focus your cleaning and decluttering efforts once again on the kitchen. This time, instead of devoting all of your time to the drawers and cabinets, turn your attention to the fridge.

Dispose of any expired food, transfer leftovers to smaller containers, and rearrange your shelves to make more room for holiday dinners.

We Can Help with Your Home Organization Goals

Whether you’re thinking about buying a home in 2018 or have just moved in (congratulations!), we’re here to help you with everything you need. Call us and we’ll provide you with even more homeowner tips and resources.

Hilton Head Island, South Carolina – Real estate sales activity on Hilton Head Island jumped this past October.  These big jumps in home and villa “Pendings” occurred in all price ranges.  This increase in buyers activity has decreased the “Active” villas available for sale.  Home inventories however, remain in check as sellers on the side lines re-enter the market. Read the rest of this entry

Nothing can transform a home quite like a simple seasonal color palette. Whether you want to embrace the fall foliage, some holiday whimsy, or a little winter coziness, you can do all that with a few coats of paint and some well-placed splashes of color.

The best part of all? Not only are these color schemes great for seasonal home decorating, they work wonders when staging your home to sell, too! Here are a few irresistible color schemes you can blend into your home this fall and winter.

Down to Earth: Rust Red and Terra Cotta

Connect with nature in the fall season using rich tones of red and brown. For an added touch of earthiness, incorporate natural elements like wood to really pull the look together.

Rustic: Persimmon and Oatmeal

Play up the autumn harvest theme with muted orange, shades of beige, and decorative elements like apples and pumpkins.

Cozy: Cream and Espresso

Neutral hues can make your home feel warm and inviting in the chilly fall and winter months. For a fun and functional look, add floor-length window coverings, which will keep the cold out and the coziness in.

Cheerful: Turquoise and White

Even if the weather outside is frightful, your home doesn’t have to be! Pair bright shades of blue with white to achieve a relaxing yet cheerful look. On a gray couch (like in the image above), turquoise accent pillows add a fun pop of color to the room’s neutral surroundings.

Small splashes of color here and there can go a long way into decorating a room for all seasons. All you have to do is switch out a few decorations and you’re set for the next season!

Merry and Bright: Snow White and Holly Green

While we typically think of red as a traditional holiday color, you don’t need bold hues to achieve a dramatic and trendy look. Stark white is becoming more and more common in interior design. To achieve this minimalist winter look, paint your space bright white and add pops of color with greenery.

When Selling a Home, Stay Neutral

The art of home staging is all about catering to the buyer. But since home buyers have drastically different tastes in color schemes, staying with a neutral color palette is the best way to appeal to the greatest number of buyers.

Selling Your Home Soon? Let’s Talk!

We’re always happy to share our knowledge of home staging trends, current real estate market conditions, and home selling resources with you. Give us a call and let’s discuss your goals.

Picture this: It’s winter. It’s freezing. You still need to clear the last of the leaves from your lawn, but you’re finding every excuse to stay huddled inside your warm home and out of the cold, biting air. More than ever, you’re wishing your yard work would just do itself.

Sound familiar? Maintenance and lawn care can be tedious and exhausting chores, especially on the coldest or hottest days of the year. But there are types of residential developments that take care of these chores for you.

The Many Faces of Low-Maintenance Living

Low-maintenance communities, in general, are neighborhoods that provide services such as lawn care and exterior maintenance through an association fee. In a maintenance-free community, especially, little — if any — maintenance is required on the homeowner’s part.

As is the case with any neighborhood, different communities offer different amenities, especially when it comes to low- or no-maintenance living. So to give you a better idea about what to look for in a low-maintenance home, we’ve come up with a quick guide.

Low-Maintenance Townhome Developments

If you want all the space of a single-family home but don’t mind sharing a wall, a townhouse is a great option for low-maintenance living. Though the amenities many vary from community to community, townhome developments typically provide common area maintenance and landscaping.

Low-Maintenance Condominiums

Think of condos as upgraded rental apartments: you have your own space, you can access community amenities, and you can count on someone else to take care of the most mundane chores.

It’s important to note that condos are a type of ownership: when you own a condo, you own everything within the walls of your home. Unlike with townhomes, you aren’t required to care for the exterior.

In addition, condo associations typically maintain the common areas and provide services like trash removal and pest control. Depending on the association, the community may also provide utilities, phone service, and cable or Internet.

No-Maintenance Residential Communities

Some communities, like 55+ communities, take care of more than just the common areas. True maintenance-free communities may also take care of your home’s exterior maintenance, lawn care, landscaping, and services like trash or snow removal.

Real estate options in these no-maintenance communities can include condos, townhomes, and/or single-family homes.

Where to Do Your Research

If a community has an association, check the rules and regulations to learn about what services the association provides. Not sure where to look? It never hurts to ask a trusted real estate agent.

Want to Buy a Low-Maintenance Home? Let’s Talk

We’re familiar with the types of homes and communities found throughout our area, so we’re more than happy to answer any questions you have. Just give us a call!