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Author: Hometown Development

10 Things to Know About Moving to Grand Rapids, MI.

Posted on by Hometown Development

If you’re moving to Grand Rapids, MI you may be new to West Michigan or the state, and not know what makes this place so special. Here are 10 things you should know when you’re moving to Grand Rapids, MI:

#1 Grand Rapids Offers Four Beautiful and Distinct Seasons

Grand Rapids, located in West Michigan, offers a pleasant climate with unique weather patterns. Lake Michigan, just 85 miles to the west, influences the temperature and precipitation of the region. It generates lake-effect rain and snow which converts Grand Rapids into a winter wonderland during part of the year, and tempers a warm and pleasant summer.

West Michigan is known for outdoor activities you can enjoy in each of its seasons, from gardening and golfing in the spring, to festivals and beach days on Lake Michigan, to fall hiking and apple-picking, to winter sports like sledding, skiing, and snowboarding.

#2 Grand Rapids is Walkable and Bike-Friendly

Downtown Grand Rapids has so much to offer. Great restaurants, bars, and shops are all within ten minutes’ walking distance. Many Grand Rapids residents commute by bicycle, as the city is designed to handle pedestrian and bicycle traffic safely. There are bike trails all around Grand Rapids that go along the Grand River, out to large parks, and even eventually reach the shore of Lake Michigan.

#3 Grand Rapids Has a Convenient Location

If you’re moving to Grand Rapids, MI you may have chosen this spot for its location. Living in Grand Rapids, everything that’s great about Michigan within reach. The city is full of amenities and things to do, but if you need to get out of town, there are many attractions a short drive away. The beautiful Lake Michigan is less than an hour drive away, making it easy to pack a picnic and head to the lakeshore any day to catch the sunset.

Grand Rapids is also an easy commute to the camping and outdoor recreation opportunities of Northern Michigan. It’s also a reasonable distance from the large cities of Detroit and Chicago. If you need to travel further, Grand Rapids has its own airport which is serviced by major airlines, both national and international.

#4 Grand Rapids Has a Lively Art Scene

Grand Rapids is a cultural hotspot in West Michigan, known for its galleries, art education and museums, theater and performance art, live music and concert venues. Van Andel Arena regularly hosts big names, such as Neil Diamond, Lady Gaga, and Kenny Chesney. Many other smaller venues around town feature touring artists and music groups. 

ArtPrize is an annual event in Grand Rapids that draws participants and spectators from all over Michigan and the Midwest. Participating artists create installations around Grand Rapids in late September and visitors vote for their favorites. $500,000 is awarded in prizes based on popular-vote winners in many categories.

#5 Grand Rapids Offers Many Employment Opportunities 

If you’re moving to Grand Rapids, MI in search of employment, you’ll find plenty of opportunities in this fast-growing metropolis. From working in the healthcare field, to technology and manufacturing, to jobs in the service industry, Grand Rapids has a lot to offer. The city is growing fast, so new employment opportunities are appearing all the time.

#6 Grand Rapids is Known for Great Health Care

Grand Rapids, MI is home to state-of-the-art hospitals and rehabilitation facilities. Many travel to Grand Rapids to seek out the best care at DeVos Children’s Hospital, recover at Mary Free Bed, study at MSU College of Human Medicine, or work in the Spectrum Health system.

#7 Grand Rapids is Surrounded by Beautiful Parks and Gardens

There are 1,200 acres of city-owned parks in Grand Rapids, MI. With endless opportunities to get outside and enjoy the fresh air and open spaces of the city’s parks and trails, it’s easy to stay active and healthy. Riverside Park, located north of downtown Grand Rapids, is a beautiful spot to take a walk by the river. There are also kayak and paddleboard rentals you can use on the river. 

Millennium Park has its own beach for kids to play, and also activity fields, and plenty of walking/biking trails that connect it to downtown. There are also great hiking trails at Aman Park and the Blanford Nature Center just west of town.

Meijer Gardens, located on the east side of Grand Rapids, is a beautiful 158-acre botanical garden that also contains a sculpture park, butterfly room, and amphitheater that features a regular calendar of live music during the summer. The manicured gardens with a huge variety of plants, flowers, and art, is a popular spot for weddings, family outings, and school field trips. 

#8 Grand Rapids is Known as Beer City, USA

If you’re moving to Grand Rapids, MI, you may be surprised to learn that it’s home to over 60 breweries, which earned it the title Beer City, USA. A few of the most popular spots in town are Atwater Brewery, Founders Brewing Company, and Brewery Vivant.

These establishments also craft their food menus with care to pair perfectly with unique brews for a great-tasting experience.

#9 Grand Rapids Has Excellent Shopping Opportunities

If you’re moving to Grand Rapids, MI, and need to shop for home furnishings, clothes, sporting goods, pet supplies, or anything else, you’ll find a huge variety of options around town. Downtown Grand Rapids will have a variety of boutiques and high-end stores. If you’re looking for great antique stores, explore the Eastown and Heritage Hill neighborhoods. Tanger Outlets is a short drive away and features expensive brand names for discounted prices. For everything else, visit the Woodland Mall, box stores, and car dealerships along the popular 28th Street.

#10 Grand Rapids Consists of Many Unique Neighborhoods

Outside of downtown, the neighborhoods of Grand Rapids create a sprawling, small-town feel. Each neighborhood has its own flavor, unique shops, restaurants, coffee houses, and parks. You’ll see people out and about walking with their kids and pets. If you’re moving to Grand Rapids, MI, there’s a neighborhood that’s perfect for your family. Whether it’s the historic Heritage Hill area, the more affluent East Grand Rapids, or the unique and hip Eastown, your family is sure to feel right at home in one of the many popular Grand Rapids neighborhoods.

Moving to Grand Rapids, MI? Hometown Development is always working to restore and renovate some beautiful houses in some of the most popular neighborhoods. Let us know what you’re interested in, and we can help you find the perfect home for you and your family.

How to Handle Selling A House and Buying In Another State

Posted on by Hometown Development

If you’re relocating to a different state, whether for work, family, or just a new start, you probably want to sell your home for at least two reasons:

 

  • To cover the costs of relocating, including buying another home and getting your life started somewhere new.
  • To avoid the costs and hassle of maintaining the old property, including property taxes and upkeep

The process of selling a house and buying another in a different state doesn’t have to be complicated, but it does depend on how you want the relocation to work. There are a few things you should know to handle the sale successfully.

What to Do When Selling a House and Buying Another in a Different State

Ideally, you would sell the old home the day you move and simply move into a new location, but it’s rarely that easy. Most likely, you’ll be faced with two realities: sell your home after you relocate, or sell it before.

Selling Your Home After Relocating

One option is to have a new home lined up, so when you sell the old home you can simply move and then sell the other one later. In this case, you would wait to sell the old home, and you risk having two homes at once, which could strain your finances in an already stressful time of change. Also, once you’ve begun your new life in a new state, you likely can’t or won’t want to commute back and forth to prepare the other home for sale, arrange showings, or negotiate offers for the old home.

Sell Your Home Before You Move

Another option is to sell the first home before you move, whether you’ve found your next home or not, and rent an apartment in your new location. This gives you time to learn the area you’re moving to, and you’ll have your finances in order when you find the right home for your next chapter. In either case, once you’re ready to sell your old home, you’ll likely want to take care of the sale quickly. You don’t want to wait months for your home to linger on the market, especially while it’s costing you money and patience to maintain.

How to Sell Quickly When Relocating

If you’re selling a house and buying another in a different state, you don’t have time to wait months to find a buyer for your old home and wait for a sale to go through — you want to sell your home ASAP. However, if the home needs fixing up or preparation before it’s ready to be listed on the market, you may not be able to do this before you need to move. Rather, you may find yourself commuting back and forth to fix up the old home before you can list it for sale. To avoid this, you can skip the preparations, repairs, and updates and sell your home as-is.

Selling Your Home As-Is

When selling your home as-is, you look for a buyer who will purchase the home in its current condition. There are a couple of ways you can successfully do this so that your home sells quickly: Price it competitively or sell to a real estate investor.

Price the Home Competitively

Pricing your home competitively shows buyers that you’re motivated to sell, so they’ll be more likely to make an offer. Although you might not be able to earn as much for the home as you could in a normal circumstance, a lower sale price will help the home sell quickly, which, if your goal is to get the extra home off your hands and move on, is a pretty good deal.

Sell to a Real Estate Investor

Selling your home to a real estate investor is another way to sell your home fast. Real estate investors prefer to close on home sales fast — often in as few as five days. Also, when you sell to an investor, you don’t need to make any repairs or changes to your home. You can sell your home in its current condition without the help of contractors, inspectors, or Realtors. A real estate investor will walk through the home with you, then offer you a fair price based on the home’s market value. In less than a week you can have your home sold and close that old chapter of your life, ready for whatever’s next. When you’re relocating, one of the best ways to set yourself up for success is to get that old home off your hands. Hometown Development can help you close in as few as 5 days, and we always make fair cash offers based on the market value of your home. Move on quickly and successfully! Give our team a call today for your no-obligation cash offer.

Pete B

Posted on by Hometown Development

I’ve worked with Hometown Development a few times now, as a seller and as a buyer. This is not your typical company that quickly renovates and resells homes. It seems that they do a complete job with the interests of future owners in mind in addition to their own. My transactions have been pleasant, and the purchase I was able to complete offered a good mix of quality and value for my client. Additionally, Realtor Adam Minor is a pleasure to work with.

Cathy S

Posted on by Hometown Development

I highly recommend Hometown Development. Adam was very easy to work with, answered all my questions, and very prompt in responding to my calls. While I no longer own the home, I look forward to seeing all the improvements they make. AAA+

5 Ways to Invest in Real Estate without Buying Property

Posted on by Hometown Development

Investing in real estate is a great way to diversify your portfolio and expand your income sources. However, not everyone is interested in buying and flipping houses to rent out, or maintaining property and tenants. If you’re looking for how to invest in real estate without the commitment or hassle of buying property, here are 5 other ways to invest in real estate that offer just as reliable returns.

#1 Invest in a Development

When you invest in a development, you help to finance a developer’s vision of a community of homes and properties. You can choose a development company that matches your tastes and investment level, but the rest of the process is relatively hands-off. You don’t have to be involved in the minute decisions of building or maintaining the development but get to enjoy the income from your equity or debt investments. These real estate companies play an important role in local economies by creating jobs, and also provide solutions to the national housing crisis.

Risk Level

Many real estate investments present a moderate level of risk. Investing in a development has great potential for good returns. As long as costs of the development stay on track and the property values and housing market remain stable, your investment will remain low-risk. You could anticipate great returns if the values of the properties increase once development is complete. To risk losing money, the market would have to decrease significantly. Therefore, the choice to invest in real estate companies that develop property is fairly safe.

#2 Invest in Real Estate Investment Companies

Real estate investment companies do the work of finding properties in need of updates, make the necessary repairs, and flip them for rental or real estate opportunities. They also work with homeowners in need to find creative solutions to missed mortgage payments, foreclosure, and other debt problems, offering them a way out that saves their credit. The homes are then given the attention they deserve and brought to showcase the best of their character and charm. Real estate investors can improve communities and help struggling homeowners into homes they can comfortably afford.

Risk Level

The risk level of investing in these real estate companies is comparable to other real estate investments in that it is also tied to fluctuating housing markets. The success of the company depends on the customer’s ability to buy a home or find a mortgage with an affordable interest rate to purchase a home. However, because the homes these companies purchase are already in established neighborhoods with nearby amenities and are priced lower than new construction homes, they tend to sell readily and provide above average returns, especially when compared to investment in another real estate company.

#3 Invest in REIT Companies

Real estate investment trusts, or REITs, are another great way to invest in real estate without finding, financing, or maintaining property. REITs own or finance income-producing real estate. Their properties can be either residential or commercial, and generate regular profits which are shared with investors through dividends. When you invest in these real estate companies, you diversify your real estate investment portfolio with passive involvement. You can either invest through stock, mutual funds or exchange-traded funds (ETFs).

Types of REITs
  • Equity REIT: publicly traded on national stock exchanges 
  • mREIT or mortgage REITs: provide initial financing for income-generating real estate
  • Public non-listed REITs: registered with the SEC (Securities and Exchange Commission) but don’t trade on national stock exchanges
  • Private REITs: not registered with the SEC and do not trade shares
Risk Level

Publicly traded REITs are less risky because investors can easily research the companies to see their financial history and stability. They also have better liquidity, making it easier to sell shares.

#4 Invest in Home Construction Companies

Investing in home construction companies is popular as the housing market climbs, and interest and mortgage rates are low. As the economy tightens and interest rates rise, however, the rate people buy and build homes slows — and so will your investment returns. This investment type is also dependent on the availability of building supplies, contractors and other resources, which, if scarce, can delay the building process and prevent you from seeing consistent returns. Investment in home construction companies is a great way to diversify your portfolio without being responsible for a home or property. You can purchase shares of home building company ETFs or invest in a specific home building company directly. However, you should be aware this type of investment is best for investors with a tolerance for some risk.

Risk Level

Investment in home construction companies presents higher risks for those seeking short term investments and quick returns, but provides more moderate risks and better returns for long-term investment. Ideally, investors should hold onto shares for at least 10 years to allow for recovery from temporary losses that can occur as home values fluctuate. Price volatility due to the constant movement of the real estate market means this type of investment is sensitive to changes in the economic conditions of the country.

#5 Join a Real Estate Crowdfunding Opportunity

Investment platforms are a relatively new way to invest in real estate without buying property directly. On these platforms, you can invest in bigger residential or commercial property deals with others, as a crowdfunding effort. This is a way to invest in real estate companies that requires some capital, but much less than buying a property yourself. You can invest in singular projects or a portfolio of projects with all types of real estate from income-producing to development properties. Be aware that, because investment and crowdfunding platforms are new, they have fewer protections than traditional investment methods. And although the online services are easy to use, apps and websites for crowdfunding may have associated fees.

Risk Level

Investing through an online crowdfunding platform means many of the opportunities to invest in real estate companies are relatively new. Therefore, there’s not a lot of financial history available to review, and investors have to sign on with a higher risk for their investment. Also, since the assets are not liquid, they are more complicated to sell. If you’re looking for a way to invest in real estate long-term, crowdfunding may work well for you. It’s best for investors who won’t need to see returns soon, and can hang onto their investments for a greater return down the road. Crowdfunding opportunities used to invest in real estate can be useful to diversify a portfolio, especially if you have many equity investments. If you’re looking for a real estate investment that can provide passive income at above-average returns, Hometown Development might just be the option for you. Talk to one of our investment experts to see how a partnership with our real estate investment company could benefit you.

Selling the Family Home: How to Let Go of Your Family Home

Posted on by Hometown Development

The house where we grew up is important in our formative years and is the backdrop of many of our youthful memories. However, there comes a time when we have to say goodbye and part ways with these spaces. Selling the family home can be difficult, not only because of the emotional attachment to a home that’s been in your family for years, but also because preparing a home to sell on the traditional real estate market can be time-consuming, expensive, and frustrating — especially when you have other grown-up responsibilities and your own home to take care of. Fortunately, when it comes to selling the family home quickly and painlessly you have options. Let’s talk about how to make the process of selling the family home as easy as possible.

Pack Up the Family Home

When you first take ownership of the family home, whether you’ve inherited the property or taken it over from other family members, that first walk-through can be difficult. From getting distracted by memories to feeling overwhelmed by the work ahead, you likely need to prepare for an initial wave of emotion. This is an important time to reflect on what the home meant to you, and take an inventory of everything in the home. Work your way through the home and decide what can be sold or donated, or what you absolutely can’t part with. Go through the belongings with your siblings to make sure everyone is involved in these important decisions. Consider that even some extended family may have an interest in keeping some items, especially priceless ones like family photo albums or other keepsakes. Unclaimed furniture, clothing, kitchen supplies, or decór can be sold in an estate sale or donated to a local charity.

Selling the Family Home

Once you have gone through the home and divided up the important belongings, it’s time to start thinking about selling the family home. In these situations, it’s often better to sell the home quickly rather than hang onto it, because even the best childhood memories can be soured when you have to take care of property you no longer want. When it comes to selling the family home, you have a few options: You can either sell it on the traditional real estate market by working with a Realtor, or sell it in a quick cash sale to a real estate investor.

Sell on the Traditional Market

Before you can sell on the traditional real estate market you’ll need to assess the home’s condition, make any necessary repairs, consider upgrading parts of the home to make it more appealing, hire a realtor, and show the home to potential buyers. Traditional sales take time — especially for older homes that might need a bit of work, maintenance, or updating. If you want to sell the family home quickly, pricing it correctly is important. Understand that you can’t put a price on your memories. It’s special to you because of the people you shared the memories with, not the home itself. Even if you think the home deserves a high price, potential buyers won’t factor the good times you spent in the home into their decision. Pricing the home too high will make it more difficult to sell, and if you have to keep readjusting the price later, buyers may become more wary and your home will lose appeal. If you don’t want to deal with making repairs or maintaining the property during the selling process you may consider selling the home to a real estate investor.

Sell to a Real Estate Investor

When you sell to a real estate investor, you don’t have to wait through the long sales process. Real estate investors prefer to close on home sales with a cash offer in as few as five days. Investors will also purchase your inherited home in as-is condition, meaning you don’t need to worry about making repairs or updates to the home. They will walk through the home with you and make you a fair offer for its market value, no Realtors necessary. The advantage of selling the family home to a real estate investor is that they have the time and capital to give the home the care and repairs it needs. They can wait for the right family to move in to make new memories. Meanwhile, you can sell quickly for cash and move on.

Say Goodbye When Selling the Family Home

When selling the family home, it’s important to acknowledge the importance of the space to you and its place in your memories. On your final walkthrough, reminisce where you and your siblings opened presents during the holidays, the place in the kitchen where the family dog used to lie, where you would sit at the dinner table and tell stories over vegetables you didn’t want to eat, where you once backed into the garage door before you got your license — and remember that the characters of those stories are the key to the memories, not the setting. Rather than let an additional home become a stressful responsibility, sell the home and hang onto the memories you made there, instead. Realize that, although it may hold a special place in your heart, it’s not your house anymore — at least not in the same way. If you sell the home, another family can move in and enjoy the space. Parting with the property will be tough, but in the long run, it will save you time, money, and stress. If you’ve recently inherited a family home, and just aren’t sure what to do with it, the Hometown Development team can help. We’ll clearly explain all of your options so you can make the best choice for you, and your family. Give us a call or reach out online to learn more.

Nicky W

Posted on by Hometown Development

Adam at Hometown Development Co., took time to discuss the many facets of the sell of our beloved home house. Through one of the most difficult times for our family brought integrity, sincerity, understanding, and professionalism with every encounter. It was great working with him. A+ for Hometown Development Company

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