Becoming a homeowner in 2022 can still be within your reach. Even though there has been a substantial increase in interest rates since the start of 2022, they are still relatively low by historic standards. The good news is that real estate experts are anticipating a market shift in favor of buyers as pricing starts to moderate and price reductions are becoming more commonplace.

Building equity through homeownership has always been a goal for many Americans and continues to be a good investment over time. Even with the recent rise in interest rates and fluctuations in mortgage rates being common, experts say that now is the time to act if you’re seriously thinking about buying a home.

Here are some ways you can adjust your plan to make your homebuying dreams a reality this year.

Lower your down payment

There are many programs available that do not require a 20 percent down payment to obtain a loan. Lowering your down payment can help improve the likelihood of you being able to purchase a home that may have otherwise not been possible. Although private mortgage insurance (PMI) is often required for loans with less than a 20 percent down payment, it’s still a great option especially if you are a first-time homebuyer.

Know your mortgage options

There are a plethora of mortgage lenders who offer programs that can match your financial capability. They range from mortgage bankers and regional and national banks to your local credit union. In addition, there are government-backed loans such as those provided by the Federal Housing Authority(FHA) offering affordable thirty-year conventional fixed-rate loans with a 3.5 percent down payment. The US Department of Veteran Affairs also provides VA loans where closing costs are limited and PMI is not required, and some even have zero down payments.

Lock in your mortgage rate 

Like gas prices, mortgage interest rates can change quickly. This rate fluctuation will directly affect your monthly mortgage amount and affordability. To combat these variances, mortgage companies offer a lock-in, also known as a rate lock, which guarantees your interest rate won’t change for thirty, forty-five, or sixty days, or perhaps longer depending on your mortgage terms. Any changes in your mortgage application, such as a reduction in your credit score, a modification in your verified income, or an increase in your loan amount will likely void the rate lock. Be sure to review this program with your lender to fully understand the pros and cons.

Purchase mortgage points

Buying mortgage points, also known as a mortgage rate buy-down, can be an effective way of lowering your interest rate to make your monthly payments more affordable. There are two types—loan origination fees or discount points—depending on which one you choose, it will be part of your closing costs. If you are planning on staying in your home for at least ten years, the break-even point—the amount of time it takes you to earn back the points paid toward the loan—may be advantageous. However, it’s important to know upfront if purchasing mortgage points is to your benefit, especially if you are approaching your maximum approval amount.

Buy what you can afford

In today’s fluctuating market, it may be wise to obtain a preapproval based on current interest rates to give you a snapshot of what you can reasonably afford. Sometimes, the lender will approve you for more than expected but don’t feel as though you need to go beyond your comfort level. Stick within your predetermined budget to avoid the stress of feeling house poor.

Calculate renting versus buying 

It may seem like the current interest rates are high, but by historical standards, they’re still very low. So if you’re currently renting, you might consider buying as your mortgage payments will likely be less than or equal to your current rent payments. For example, if your rent is $1,500 a month, that’s $18,000 per year and $90,000 over five years. The cost to rent isn’t getting any cheaper and it’s money in your landlord’s pocket, not yours. Why not start building equity in your own home?

Increase your credit score

Many factors go into getting a mortgage, but one of the most important components is your credit score. A higher credit score will likely improve your loan terms and provide a more desirable interest rate, potentially lowering your monthly payments. So if your score is a little low, take the time now to increase it by paying your bills on time, reducing your debt, and keeping balances low on all credit accounts. You may even consult with a credit repair company that can advise you on how to increase your score.

Depending on your financial circumstances and the real estate market conditions of where you want to live, buying a home can still be within reach even with the recent interest rate hikes. Take the time to do your due diligence by researching as many available mortgage programs as possible and the options available to you based on your finances. This includes lowering your down payment, buying down your interest rate through mortgage points, and asking your lender if you qualify for a rate lock. Be sure to work closely with a trusted financial expert and your real estate agent to guide you through this process and help fulfill your dream of being a homeowner.

Bright lights, candles in windows, wreaths, and lawn ornaments are the typical components of an exterior holiday decor formula. While the traditionally decorated home is warm and welcoming, you can achieve the same effect while putting a unique spin on your decor. The list below offers a few creative theme ideas for you to consider.

Ready, set, action!

If your household has a favorite holiday film, you can take inspiration from elements of the movie and bring them right to your front yard. People driving by will delight in the nostalgia and humor of your home’s decor. The films below are full of simple elements you can replicate.

A Christmas Story 

Take your home through a time machine with these whimsical touches. Purchase a replica of the leg lamp to place on your porch or in a front window, and make your own 1940s inspired wreath with vintage ornaments and bows.

Home Alone

Copy Kevin’s genius contraptions to deter any holiday mischief in your home. Create a mock “Little Nero’s Pizza” box, and sit it on your porch with the label facing out. Fashion a fake getaway zip line made from rope, hang it from a window, and attach the other end to a nearby tree. Purchase a small Christmas lawn statue, and angle it toward one side like it’s falling over.

How the Grinch Stole Christmas

Take a cue from the Grinch and steal the show by creating a Whoville-inspired scene. Make a sign that says, “Welcome to Whoville” to hang on your front door. Buy a Grinch cutout online, and connect it to a string of lights on your home so that it looks like he’s pulling them down. Hang oversized striped stockings from your porch railing or below your windows.

A work of art

If traditional or eclectic decor isn’t your style, try a modern and minimalistic approach this season. The sky’s the limit to what you and your loved ones can create.

Monochrome 

Decorate with items in different shades and finishes of a single color, such as green, white, blue, silver, or gold. For example, if you choose green, use garland without any added ornaments or colored lights, and then incorporate a few elegant green wreaths and a welcome sign with light green letters.

Abstract 

There are no rules for what counts as a holiday pattern or color, so choose any that bring you joy. You can place a tree on your porch, and decorate it with yellow and pink ornaments in mismatched patterns. For a less is more approach, focus on a few bold statement pieces in bright colors or big patterns, and leave the rest of your home lightly decorated. 

Cozy getaway

Are you craving a vacation away for the holidays, but you’re staying home to visit or host loved ones? Try transporting your home to the beach or the mountains with vacation-themed decor.

By the ocean 

Cowabunga! Celebrate the season in beachy fashion, even if you don’t live by the sea. Coordinate traditional elements, such as lights, with elements of the beach like shells and sunglasses. Buy plain shells from a craft store, paint them in your favorite holiday colors, and then glue them to an undecorated wreath, alternating between the colors. At the center of the wreath, hang a pair of inexpensive sunglasses. String some fake coconuts, and purchase a blow-up or a fake palm tree, if there aren’t native to your area, to wrap in lights. Now you’ve brought the feeling of the islands right to your home!

In the mountains 

Create the ambiance of a mountain getaway by incorporating lanterns, a plaid blanket draped over a porch chair, a bundle of firewood, and an old-fashioned wooden sled to create a lodge entryway aesthetic. Use a blank wood sign from a craft store, and decorate it with your family’s name. You and your guests will feel like you’re in a five-star ski resort. 

Whatever way you choose to decorate the exterior of your home, make sure it brings you joy. Don’t feel pressure to stick to any traditional decor. There are plenty of creative opportunities for you to explore this season. Happy decorating!

For many people, the holiday season brims with nostalgia and is a time to embrace decades-old family traditions, classic movies, and even caroling.

A southwestern city that embodies this old-fashioned cheer is Durango, Colorado, located less than thirty minutes from the New Mexico border in the state’s southwest corner. Like Colorado’s better-known cities, Durango is a snow-capped paradise awash with mountain views. But it also has many other unique adventures to enjoy during the holidays, the crown jewel of which is the Durango & Silverton Narrow Gauge Railroad.

A Train and a Town

Durango literally wouldn’t exist if not for its iconic railway system. The company that created it, the Denver & Rio Grande Railway, also founded the town of Durango within the Animas River Valley in 1880. Two years later, the tracks to Silverton, a town around fifty miles north, were laid. From its origin, this train always had a dual purpose as a passenger train and a hauler of precious metals, mostly gold and silver from the San Juan Mountains. And, even though the D&SNGR has faced stiff challenges over its century-plus of existence, including financial difficulties, natural disasters, and pandemics, it’s estimated that it has delivered more than $300 million of precious metals during its lifetime.

By the latter half of the twentieth century, America’s railway industry was changing, and the Durango & Silverton Narrow Gauge Railroad changed with it by emphasizing the tourism experience, adding more trains to ride, and winterizing the compartments. The charm of the trains and the surrounding area was still evident at this time by the fact that dozens of Hollywood movies were filmed here, including the classic Butch Cassidy and the Sundance Kid, and that the railway was deemed a National Historic Landmark.

Today, the D&SNGR is as popular as ever. In 2021, USA Today readers voted it the best scenic train ride in North America, and approximately 200,000 enthusiasts flock to Durango each year for the opportunity to ride one of the few working century-old steam-powered trains remaining in the country. The company that runs the railway, American Heritage Railways, offers a vast array of special experiences, including a scenic, nine-hour, round-trip excursion to Silverton, a locomotive cab ride with a train engineer, photography-focused trips, and various holiday-themed trains throughout the year—including some particularly magical trains during the winter season.

All Aboard for Holiday Fun

If you travel here for the holidays, you may feel like you’re in a magical movie. That’s because the Durango & Silverton Narrow Gauge Railroad offers a special holiday train ride for both kids and kids at heart, The Polar Express ä Train Ride. You and your family will indulge in traveling to the “North Pole” while singing Christmas carols, listening to a reading of The Polar Express book, and, yes, drinking hot chocolate. After you experience a light show up north, Santa even boards the train and delivers the first gift of Christmas, making it an experience everyone will treasure.

Looking for another family-oriented locomotive experience? The Durango & Silverton Narrow Gauge Railroad has you covered with its Cascade Canyon Winter Train. Available starting around Thanksgiving, this experience features breathtaking mountain, forest, and river views along your fifty-plus-mile, five-hour journey, as well as a one-hour layover to explore nature firsthand in Cascade Canyon, located deep in the San Juan National Forest.

Downtown Durango and Beyond

As memorable as these train rides are, they are just a few of the festive things to do in Durango during the holiday season. Whether you prefer a cozy, casual stay, snowy outdoor adventures, or a little of both, your itinerary will be jam-packed and joy-filled.

In town
If holiday shopping is high on your to-do list, be sure to visit downtown Durango, where dozens of local merchants ply their trades. You may find yourself spending hours rummaging through all the stores on or near Main Avenue, as goods include art, jewelry, food, clothes, toys, and much more. And if you’re in town in early December, mark your calendar for Noel Nite, Durango’s one-day shopping event celebrating the season and offering great deals.

While you’re enjoying your holiday shopping in and around town, you’ll also want to eat. Fortunately, Durango is a foodie paradise, with memorable places like Eleventh Street Station, a converted service station with a coffee shop, food trucks, and more. No matter the cuisine, you’ll likely find it here. In fact, with almost two hundred restaurants, Durango has more restaurants per capita than San Francisco—so eat up.

Outdoor adventures
People come to Colorado to experience a winter wonderland, and Durango is no exception. In addition to dashing down one of the area’s many skiing and snowboarding trails, you can also go snowmobiling, snow tubing, and even snowshoeing. If you consider yourself truly adventurous, you can also try your hand at ice climbing in Cascade Canyon or brave the cold while sitting at one of several ice-fishing spots in the area. And after a long day of outdoor adventures, you can enjoy relaxing in the 120-degree natural spring at Durango Hot Springs Resort and Spa.

If you venture outside of town, you’ll discover even more to explore, especially history. Several national parks and monuments are within driving distance, including San Juan National Forest, a nearly two-million-acre expanse approximately thirty-five miles north via Route 550. Also, with this area of the country being steeped in American Indian history, you’ll have plenty of opportunities to learn more about it both in and out of town. In addition to downtown establishments like Toh-Atin Gallery, which sells authentic American Indian jewelry, art, and crafts, you can stroll through the Southern Ute Cultural Center and Museum, located about thirty minutes southeast of the city, to learn more about the Núuchi people.

Finally, what holiday trip would truly be complete without a sleigh ride? Around twenty miles north of downtown, you’ll find Buck’s Livery, which offers forty-five-minute horse-drawn sleigh rides that will make you feel like you’re in a Currier and Ives print. You must reserve your day and time beforehand, though, so make sure to plan ahead.

Durango is one of those special places that perfectly marries the present and the past for a one-of-a-kind experience. Visit here during the holidays to ride the rails, soak up the small-town vibe, find adventure, and celebrate the season while surrounded by the mountainous majesty of the Southwest.

For more info, visit durango.org or durangotrain.com

This holiday season, if you are thinking of selling your home, you may be tempted to hold off until the new year. After all, nobody buys houses this time of year, do they? These days, the answer may be “Yes, they do.”

If you were thinking of waiting until spring or later to sell your home, you might want to consider listing your home now or during the winter months to take advantage of a healthy housing market.

Advantages of Listing a Home During the Holidays

There are plenty of good reasons to list your home during the holiday season, including the following:

• You’re likely to find more motivated buyers during this time of year. If they still haven’t found the home they want—or they have a sudden need to relocate—holiday buyers may be more willing to make decisions quickly. In addition, they may be eager to get moved in for their own holiday celebrations, making them easier to negotiate with.
• Many of this year’s buyers have been disappointed by multiple offers on previous properties. They may be willing to move fast and make an offer before someone else does.
• The use of virtual tours makes it easier to sell a home with minimal inconvenience. You’ll also cast a wider net when your real estate agent shares your home’s virtual tour on a dedicated website or as an enhanced feature on the MLS.
• This is a slower time of year for real estate agents as well, so your agent will have more time to focus on your listing. Talk to your agent about ways to get the widest possible audience for your home and its features.
• Let’s face it, you’re already cleaning and decorating your home for the holiday season. What better time to show it?

Challenges of Listing a Home During the Holidays

Of course, listing a home this time of year may bring some drawbacks, including the following:

• If you are entertaining during the holidays, you’ll want to communicate with your agent about days and times when tours will not be available. They are likely offering virtual tours as a convenient alternative for interested buyers and their agents.
• If you are traveling during the holidays, you’ll need to ensure that you are available for negotiations and pertinent questions as needed, and that your agent can come in and prepare the home for showing as required.
• If time is of the essence, it may be difficult to schedule home inspections, appraisals, and closings during the holiday season. Talk to your agent and ensure that he or she has a plan in place to move the transaction forward in the event that you go under contract during the holidays.

Making a Holiday Listing More Appealing

Want to get your home show-ready while also enjoying the holidays with your family and friends? It’s easier than you think. Here are some things to keep in mind.

Lighten up on decorations

While you’ll want to enjoy the season, don’t feel the need to cover every possible surface in holiday decor. It’s important for buyers to be able to see the space and get a sense of how it works during the non-holiday months of the year. Go for a more minimalist, decluttered holiday look that enhances, rather than hides, the home.

Focus on outdoor spaces

Even though it’s winter, don’t neglect your outdoor spaces. Keep paths and surfaces clear of leaves and new-fallen snow. Optimize outdoor lighting so that buyers can see well, even when it gets dark early. Create a cozy seating area on the terrace with candles, a firepit, and a basket of blankets.

Warm up the space

Speaking of cozy, take advantage of the season to enhance the indoors as well. Greet potential buyers with the scent of something baking in the oven and a plate of holiday cookies on the counter. Light  scented candles and start a fire in the fireplace. Make visitors feel welcome and right at home.

Take photos before you decorate

Just in case your home doesn’t sell before December 25, it’s a good idea to take listing photos before you decorate. You don’t want buyers looking at photos with holiday decorations in mid-January. It will make the listing feel stale, even if it’s only been up for a couple of weeks.

Right-price your home for a faster sale

If you’re motivated to sell, this is not the time to test the market and hold out for a higher-than-average sale price. Talk to your agent about comparable properties in your area, and ensure that you price your home correctly at the beginning of the process for maximum market impact.

A real estate agent or broker has the market insights, professional network, and buyer pool you need to get your home sold any time of year. Talk to them about your timeline and your financial requirements, and they’ll help craft a plan that makes sense for you.

Among the many changes that joining the military brings, a frequent change in location is sometimes part of the territory. For families, moving often can make it difficult to feel settled in a home, or to even make the commitment associated with homebuying.

But if you’ve made the decision to buy a home, you deserve to feel confident in your choice. These tips can help!

Consider the likelihood of selling

Look for points that can influence selling point down the line. Is the house in a good school district? Are there modern appliances? Are there any structural issues? These are all qualifications you would want to look at anyway, but are particularly important if you’ll eventually need to sell.

Get familiar with the neighborhood

Looking for a home near base could be beneficial in that there will probably be other military families nearby that you will be able to relate to and rely on. Some communities even offer special resources through programs like Joining Community Forces, which brings local businesses and services together in support of military families.

Use your resources

There are a number of special resources available to military families interested in buying a home. VA loans, while not always feasible, can be extremely beneficial when used properly. An expert on the system can help military homebuyers work through the VA’s requirements process.

You will have to work with a VA appraiser, and not all homes meet the VA loan requirements, but it is absolutely worth it to look into and understand the resources available to you as a service member.

Ask around

It’s always beneficial to talk to other military families who have been through the process before. If you know anyone who has previously bought a home using a VA loan or other type of military assistance, ask them about their experience. What did they do right? What do they wish they did different?

Buying your first home is equivalent to embarking on a grand adventure. Although extremely thrilling, learning the ins and outs of the process can often seem overwhelming. From determining a budget to obtaining a loan, there are numerous factors to take into consideration along the way. Keep these five tips in mind throughout the journey.

Check your credit score
Your credit score impacts various aspects of your life, especially when it comes to buying a house. It’s a determining factor in being approved for a loan with a low interest rate. Credit Karma offers free credit reports with monitoring, which can help you catch what may be negatively affecting your score. Mortgage brokers, credit card companies, and banks can also sometimes explain your score in greater detail. Check with them to see if they offer this service.

Be realistic about what you can afford
When setting a budget, it’s important to be realistic. To keep your head out of the clouds, consider making a master list of the necessities (such as the number of bedrooms and square footage) and a separate list of the extras (such as hardwood floors and a modern kitchen) that you’re willing to compromise on. Many first-time buyers update their house piece by piece, creating the ultimate dream home!

Gather all necessary documents
To get prequalified for a loan, lenders typically require various documents. It’s advantageous to collect pay stubs, bank statements, and W-2s from the past two years. Ensuring your paperwork is organized will eliminate having to scramble every time a lender requests additional information.

Get preapproved for your loan
Once your credit score is deemed acceptable and the required documents are submitted, you’ll be able to begin the preapproval stage. Being preapproved allows you to submit an offer with confidence, and puts you on equal footing with competing bids.

Find a supportive real estate agent
Whether it’s by word-of-mouth or through research, connect with a real estate agent who fully understands your search criteria. A good real estate agent will assist first-time home buyers throughout the entire process. You’ll be surprised how much easier it is with a real estate agent who is on the same page as you.

As with every adventure, the destination is the most rewarding part. Take the time to enjoy it—you only get to be a first-time home buyer once.

Buying a home can be a timely process, so it’s important to hit the ground running. These tips are sure to keep you on track throughout the months leading up to the big purchase.

To prep:

Utilize an agent

Make use of the professionals involved with buying a home, and don’t be afraid to ask questions. Going at it alone can result in more harm than good, and nothing is worse than dragging out an already time-consuming process.

Get your financials in check

Whether this means checking your credit score, talking with a financial advisor, looking at your monthly expenditures, getting pre-approved for a mortgage, or most likely, all of the above, getting your financials in order is a necessary step in the home-buying process.

Look at neighborhoods

Do you want to live in an urban setting or are the suburbs more your speed? How relevant is a good school district to your family? These questions are vital to ask when looking at what neighborhoods best match your lifestyle.

To buy:

Hunting for a home

Open houses can be a fun part of the home-buying process. Be confident in knowing what you want in a home, and keep in constant contact with the professionals during this step to make your decisions easier.

Making an offer

Once you find the house of your dreams, putting an offer in is the natural next step. The process of making an offer will often include deciding on an offer, which entails looking at the comps in the general vicinity. Part of making an offer is also negotiating with the seller, which a professional will help you with as well.

Signing the agreement

The next step is signing the purchase agreement. This is where financials, home inspections, and other necessary contingencies will be discussed, but a professional will be there to guide you through every step of the closing process.

From searching to closing, buying a home is one of the most exciting times of your life. Stay on top of the little things with this timeline!