Nov. 21, 2022

5 Reasons People Are Moving To Cheshire, CT

Are you moving to Cheshire, Connecticut, and want to know more about it? In this episode of CT Life, I’m going to give you five reasons why people love moving to Cheshire. We’ll talk about everything from the sense of community to local festivals so you can see if Cheshire is right for you.

 

Community And Location

There is a reason why more and more people are moving here to Cheshire. Reason number one is the sense of community. Everybody loves the small-town aspect of Cheshire.

Reason number two is the location. Cheshire is centrally located halfway between New Haven and Hartford. This means it's also super central to Amtrak and Metro North train lines that run to Hartford, New Haven, and all the way to Grand Central. This makes Cheshire a great town for commuting, especially with close proximity to Yale and Quinnipiac.

Activities And Education

Reason number three, there are plenty of things to do. Cheshire has trails, shopping, restaurants, orchards, museums, rec centers, and a town pool. Reason number four is active events like the Fall Festival. This is a must-attend event every year with food trucks, fireworks, and fall festivities.

There's also live entertainment, a car show for car enthusiasts, a carnival area, and crafters with tents. You’ll also want to check out the Strawberry Festival, which happens every year in June. It’s a must-see.

Lastly, the fifth reason many people say is a big factor for them moving to Cheshire is the school system. You can see all the school reports right on our website.

Make Cheshire Your Home

Now that you have all the information you need, the last thing you might want to do is set up your home search. If you have any additional questions about Cheshire or Connecticut in general, please reach out. Whatever information you need, my team of agents would be happy to help you and get you into the area.

Don't forget to subscribe to my channel if you enjoyed this video so you never miss an episode of CT Life, my show all about CT. Stay tuned to see what I feature next!

Nov. 21, 2022

6 Feature of a Kitchen Remodel That Are a Waste of Money In Connecticut

6 Features of a Kitchen Remodel That Are a Waste of Money In Connecticut

Kitchen remodels are always popular. The pandemic has increased home improvement projects even more as people embrace the idea of staying home more. While it's easy to find inspiration for these kitchen remodels there are great ways to save money and still create beautiful, welcoming space.

6 Kitchen Remodel Features That Are a waste of Money

1. Expensive Backsplashes -  Backsplashes can make a huge visual impact, but more expensive is't necessarily better. There are many cost-effective materials that mimic expensive quartz, marble and glass.

2. Designer Appliances - Designer lables look great on shoes and purses but look for style and function for new appliances and forget the designer brands that can  cost twice as much for the same look.

3. Trendy Hardware - Hardware is one of the least expensive ways to update to a kitchen, but there is still a cost. Balance personal style with price and avoid fad fixtures that will need to be replaced soon.

4. High- Tech Gadgets - Tech is fun but will you really use your refrigerator to build a shopping list or turn on your oven from the beach? Most likely, tech gadgets in the kitchen will go to waste.

5. Moving Electrical/Plumbing - When possible, work within the current layout of electrical and plumbing access. Relocating these sources is expensive and difficult

6. Open Shelving - Displaying beautiful plates and glassware may be appealing but consider the upkeep to maintain this look. You may end up adding closed cabinets anyway for more money after the remodel.

Nov. 18, 2022

Taking the Fear out of Saving for a Home In Connecticut

Taking the Fear out of Saving for a Home In Connecticut

Taking the Fear out of Saving for a Home | MyKCM

If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter.  And to do that, turn to trusted real estate professionals. They can help you plan your finances and prepare your budget.

Here are just a few costs experts say you can expect.

1. Down Payment

Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need to save? While each situation is different, there’s a common misconception that putting 20% down toward your purchase is required. An article from the Mortgage Reports explains why that’s not always the case:

“The idea that you have to put 20% down on a house is a myth. . . . The right amount depends on your current savings and your home buying goals.”

To understand your options, partner with a trusted real estate professional to go over the various loan types, down payment assistance programs, and what each one requires.

2. Closing Costs

Make sure you also budget for closing costs, which are a collection of fees and payments made to the various people involved in your transaction. Bankrate explains:

Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the mortgage so it’s important to be financially prepared for this expense.”

The best way to understand what you’ll need at the closing table is to work with a trusted lender. They can provide you with answers to the questions you might have.

3. Earnest Money Deposit

If you want to cover all your bases, you can also consider saving for an earnest money deposit (EMD). An EMD is money you pay as a show of good faith when you make an offer on a house. According to realtor.com, it’s usually between 1% and 2% of the total home price.

This deposit works like a credit. It’s not an added expense – it’s paying a portion of your costs upfront. You’re using some of the money you already saved for your purchase to show the seller you’re committed and serious about their house. Realtor.com describes how it works as part of your sale:

It tells the real estate seller you’re in earnest as a buyer, . . . . Assuming that all goes well and the buyer’s good-faith offer is accepted by the seller, the earnest money funds go toward the down payment and closing costs. In effect, earnest money is just paying more of the down payment and closing costs upfront.”

Keep in mind, an EMD isn’t required, and it doesn’t guarantee your offer will be accepted. It’s important to work with a real estate advisor to understand what’s best for your situation and any specific requirements in your area. They’ll help you determine what moves you should make in the homebuying process to have the greatest success.

Bottom Line

Budgeting for your home purchase doesn’t have to be scary. Let’s connect so you’ll have an expert on your side to answer any questions you have along the way.

Nov. 17, 2022

Millennials Are Still a Driving Force of Today's Buyer Demand In Connecticut

Millennials Are Still a Driving Force of Today’s Buyer Demand In Connecticut

Millennials Are Still a Driving Force of Today’s Buyer Demand | MyKCM

If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for.

While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer demand in the housing market today. Here’s why.

Millennial Homebuying Power

While there’s no denying higher mortgage rates are making it more challenging to afford a home today, many millennials are still eager and able to buy homes – whether it’s their first or they’re moving up. That’s in large part because of the value they place on education.

recent article from First American says millennials may be the most educated generation in our nation’s history. Because of that, they tend to earn higher wages, and that translates to greater homebuying power. Odeta Kushi, Deputy Chief Economist at First American, explains:

“In 2020, millennials with a bachelor’s degree had a median household income of over $100,000, while those with at least a graduate degree had a median household income of over $120,000. Compare those income levels with the median household income of millennials with just a high school degree (or some college) of $60,000 and the earning power benefits of higher education are undeniable. . . . Millennials’ pursuit of higher education is good news for the housing market. . . because education is the key to unlock both greater earning power and, in turn, homeownership.

And since wages are one of the key things that factor into affordability when it comes to buying a home, these higher earnings can help millennials achieve their homeownership goals.

Millennials Continue To Be a Driving Force of Demand

A number of studies have looked into how the millennial generation views homeownership and how they’re uniquely positioned to define the housing market moving forward. As the largest generation, the volume of potential millennial homebuyers will have an impact on the market for years to come. As an article in Forbes explains:

At about 80 million strong, millennials currently make up the largest share of homebuyers (43%) in the U.S., according to a recent National Association of Realtors (NAR) report. Simply due to their numbers and eagerness to become homeowners, this cohort is quite literally shaping the next frontier of the homebuying process. Once known as the ‘rent generation,’ millennials have proven to be savvy buyers who are quite nimble in their quest to own real estate. In fact, I don’t think it’s a stretch to say they are the key to the overall health and stability of the current housing industry.”

If you’re thinking of selling your house but are hesitant because you’re worried that buyer demand has disappeared in the face of higher mortgage rates, know that isn’t the case for everyone. While demand has eased this year, millennials are still looking for homes. As Mark Fleming, Chief Economist at First American, says in an article:

"While not the frenzy of 2021, the largest living generation, the Millennials, will continue to age into their prime home-buying years, creating a demographic tailwind for the housing market.”

Bottom Line

Millennials are interested in and well-positioned to achieve their homeownership dreams. If you’re ready to sell your house, know that it may be just what they’re looking for.

Nov. 16, 2022

Millennials Are Still a Driving Froce of Today's Buyer Demand In Connecticut

Millennials Are Still a Driving Force of Today’s Buyer Demand

Millennials Are Still a Driving Force of Today’s Buyer Demand | MyKCM

If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for.

While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer demand in the housing market today. Here’s why.

Millennial Homebuying Power

While there’s no denying higher mortgage rates are making it more challenging to afford a home today, many millennials are still eager and able to buy homes – whether it’s their first or they’re moving up. That’s in large part because of the value they place on education.

recent article from First American says millennials may be the most educated generation in our nation’s history. Because of that, they tend to earn higher wages, and that translates to greater homebuying power. Odeta Kushi, Deputy Chief Economist at First American, explains:

“In 2020, millennials with a bachelor’s degree had a median household income of over $100,000, while those with at least a graduate degree had a median household income of over $120,000. Compare those income levels with the median household income of millennials with just a high school degree (or some college) of $60,000 and the earning power benefits of higher education are undeniable. . . . Millennials’ pursuit of higher education is good news for the housing market. . . because education is the key to unlock both greater earning power and, in turn, homeownership.

And since wages are one of the key things that factor into affordability when it comes to buying a home, these higher earnings can help millennials achieve their homeownership goals.

Millennials Continue To Be a Driving Force of Demand

A number of studies have looked into how the millennial generation views homeownership and how they’re uniquely positioned to define the housing market moving forward. As the largest generation, the volume of potential millennial homebuyers will have an impact on the market for years to come. As an article in Forbes explains:

At about 80 million strong, millennials currently make up the largest share of homebuyers (43%) in the U.S., according to a recent National Association of Realtors (NAR) report. Simply due to their numbers and eagerness to become homeowners, this cohort is quite literally shaping the next frontier of the homebuying process. Once known as the ‘rent generation,’ millennials have proven to be savvy buyers who are quite nimble in their quest to own real estate. In fact, I don’t think it’s a stretch to say they are the key to the overall health and stability of the current housing industry.”

If you’re thinking of selling your house but are hesitant because you’re worried that buyer demand has disappeared in the face of higher mortgage rates, know that isn’t the case for everyone. While demand has eased this year, millennials are still looking for homes. As Mark Fleming, Chief Economist at First American, says in an article:

"While not the frenzy of 2021, the largest living generation, the Millennials, will continue to age into their prime home-buying years, creating a demographic tailwind for the housing market.”

Bottom Line

Millennials are interested in and well-positioned to achieve their homeownership dreams. If you’re ready to sell your house, know that it may be just what they’re looking for.

Nov. 15, 2022

Should I Move For My Job In Connecticut

Should I Move For My Job In Connecticut

The question of moving for a new job is not uncommon. In the past few years, more and more companies are moving their entire operations out of high-tax states to those more business-friendly. Possilbe work-from-home options further complicate the decision to move with your company. So, should you move when your company does?

Things to Consider Before You Move for Your Company

Career Growth - One of the biggest reasons to stay with your job through a move is career growth and advancement. Speak with your manager or HR professional about what kind of career path is available before you decide.

Better Location - Companies moving away from family and friends may be too high a price to pay to stay with your company . Aging parents or the school your children enjoy may encourage you to stay put.

Personal Relationships - Moving away from family and friends may be too high a price to pay to stay with your company. Aging parents or the school your children enjoy may encourage you to stay put.

Remote Working Option -  If you do not want to move, ask if a work-from-home situation is available. If so, understand the impact it may have on your career.

One big advantage a move like this has is you already know the company, the employ and the corporate culture. Consider all the options available and you'll be able to make the best decision for you and your family.

Nov. 14, 2022

The Pros And Cons Of Cheshire, Connecticut

Are you thinking of moving to Cheshire and want someone to give you the bottom line of what it's really like? In this episode of CT Life, I’m going to give you the good, the bad, and the ugly of living in Cheshire, Connecticut. We’ll look at everything from restaurants to the weather so you know exactly what to expect.

When it comes to living in Cheshire, Connecticut, there are some great things about living here and some not-so-great things. Living in Cheshire has its pros and cons, just like every place, but we're going to start by giving you the top three reasons people love living here in Cheshire, Connecticut.

 

 

Why People Love Chesire

The very first and most popular reason people are moving to Cheshire is that there are plenty of great restaurants and shops. Some of the popular restaurants are Viron Rondo Osteria, 122 Elm Street Tavern, and Bone In Prime Steakhouse.

In addition to great restaurants and shops, the second reason people love calling Cheshire home is that it’s super centrally located. Chesire is halfway between New Haven and Hartford. This means it's also central to the Amtrak and Metro North train lines that run to Hartford, New Haven, and into the Grand Central Station in New York City.

The third reason that people love living here is that Cheshire is super family-friendly. There are many community events throughout the year such as the town's annual Strawberry Festival, which is always a huge hit. Many people also say a big factor for them moving to Cheshire is the school system. You can see all the school reports right on our website.

Rentals And Nightlife

Now that you know about a couple of the pros to living in Cheshire, let's give you the lowdown on some of the cons. Not everything is perfect, so if you're serious about moving here, you need to know this stuff.

First, did you know that Cheshire doesn't have much of a rental market? If you aren't looking to buy and simply want to rent, you're going to feel a little put out because there aren’t a lot of rental properties available. You don't have a lot of options.

If you can deal with the lack of rentals in the market, maybe you won't mind the lack of nightlife. If you want any type of nightlife, Cheshire might not be the place for you. You're probably going to have to go to New Haven, Hartford, or the casino, as it's definitely more of a suburban area. If you are used to a city with a lot of nightlife options, you're going to have to venture out to larger cities for that.

Weather And Security

One more thing you need to be prepared for is the weather. If you're moving within Connecticut, it's not going to be too different than what you're used to. However, if you're moving to Cheshire from another state, be prepared. We have bitterly cold winters, and the summers are often hot and humid.

Another con to living in Cheshire is literally that: the convicts. Cheshire has a security prison, which concerns a lot of people moving into the area. They have a maximum security and a medium-security prison, and there is also a youth facility in Cheshire.

The one thing I like to think of though is, if God forbid anybody escaped from the prison, they probably wouldn't stay close to the prison. They would probably hightail it out of town, so you probably don't have to worry about that. It's also a very rare occurrence when it happens, but it's something you need to be alert to.

Make Chesire Your Home

I hope this video gave you some insight into the pros and cons of living in Cheshire. We help people move every day in and out of Cheshire, Connecticut, and we would love to be your resource. If you have any questions about Cheshire or the market here in Connecticut in general, feel free to reach out and I’ll be happy to connect.

Don’t forget to subscribe to my channel so you never miss an episode of CT life, my show where we talk about everything CT and living here in Connecticut. Stay tuned to see what I feature next!

Nov. 11, 2022

Fall 2022 Housing Market Update In Connecticut

Fall 2022 Housing Market Update In Connecticut


Buy now or wait! This is the question on all potential homebuyers' minds this fall. Over the past few weeks, the mortgage interest rates have soared to a 14-year high. Excessive government spending combined with surging energy costs and rising inflation has caused many would-be homebuyers to lean toward the wait side of that argument. But is this really a bad time to purchase a new home? Maybe not.

First, there is no way to predict the bottom of home prices for any recession. If the economy continues to struggle, it's likely that home prices will continue to drop, offering better sales prices. But at the same time, inflation is still rising, and the Federal Reserve has clearly indicated they will raise interest rates as needed to cool this trend. This means that while home prices may come down some, the cost to borrow money will also rise; for homebuyers on the fence, they are hoping that the lower sales price will outpace the rising interest rates.

The truth is there is no way to know this.

Therefore, is this a good time to buy a home? Yes, if the home buyer finds the right home. There are three important things to consider. One rising inflation will affect rent prices and stable mortgage payment is a great hedge against increased housing costs. Two buying a home allows the new homebuyer to start building equity immediately. Finally a mortgage can be refinance when the economy recovers, home values recovers, home values recover and interest rates come down. So, potential homebuyers should not shy away from buying a home if they find the right fit for their needs. 

Nov. 10, 2022

Is My House Up to Code In Connecticut?

Is My House Up to Code In Connecticut

Building codes change over time and for people who have owned their homes for a long time, they may not know if their home is out of code and if so does it matter.

Building codes and violaions from jurisdiction to jurisdiction and focus on issues that can affect the safety of the dwelling and its occupants. A home that's up to code may answer the questions:

  • Does the home have fire escapes and exits?

  • Are plumbing lines intact and functional?

  • Are construction materials in good condition and free from asbestos and other hazardous chemicals?

  • Is the home well-it and free from tripping hazards?

  • Is the HVAC system working efficiently?

Avoid Code Violations


There are things to look for in both an existing house and a potential home.

  • Check for any permits on the home and always ensure any work done on the home includes permits.
  • Test for hazardous materials such as asbestos or lead. These materials are common in older homes. If found, these need to be removed by professionals to avoid health issues from contamination.
  • Poor bathroom ventilation is a big code violation. The humidity can lead to rot and mold which is expensive to remove and dangerous to the occupants health
  • Shoddy, electrical work is also common in older homes. Lack of grounded wires, spliced wires and DIY repairs duct-taped together can be very dangerous.

Understanding code violations can help the homeowner to avoid issues. All this information is readily available through local jurisdictions and home inspectors can provide more explanations to help mitigate any problems.

Nov. 9, 2022

The Cost Of Living In Chesire, Connecticut

Are you thinking about living in Cheshire and you're curious about what it's going to cost? In this episode of CT Life, I'm going to break down the costs of living here in Cheshire, Connecticut. We’ll look at everything from the cost of housing to gas prices so you know exactly what to expect.

We work with many people who move in and out of the great town of Cheshire, Connecticut. One of the top questions we always get is what is it going to cost. So if you're wondering about the cost of living, we’re going to give you the bottom line numbers. If you're not familiar with the area, you're probably also going to learn a few things about the local costs as well.

 

The Cost Of Housing

 First, let's talk about the obvious: the cost of housing. One of the first things you're going to have to decide is if it’s better to buy or rent. What kind of housing do you need? Are you looking for a single-family or multifamily? Do you want an apartment or a home?

The price of housing varies, so if you have any additional questions, we can send you more detailed information. To start, here are some general pointers. The average three-bedroom single-family home here in Cheshire is roughly $395,000. For this price, you can expect 2,059 square feet and eight rooms. It would be on the market for an average of 27 days.

A two-bedroom in the same area would run roughly $310,000. For this price, you could expect 1,266 square feet, five rooms, two baths, and 28 days on market. The average two-bedroom condo would run roughly $224,000. For this price, you can expect 1,443 square feet, five rooms, two bathrooms, and an average of 23 days on market.

If you're looking to rent in the area, you can plan on spending anywhere between $1,880 to $3,500. It's also very difficult to find rentals here. Lastly, property tax in the area can vary. Cheshire's current mill rate is 33.22, which means the average $400,000 home would have property taxes right around $6,000.

Taxes, Gas, And Groceries

Now that you have a good idea of how much it costs for housing in Chesire, let’s look at some additional costs. The annual state income tax here is a rate of 3% up to $10,000 taxable income. It jumps up to 5% from $10,001 to $50,000, then goes to 5.5% from $50,001 to $100,000. After that, it’s 6% from $100,001 to $200,000.

Gas prices here average currently about $3 a gallon and yes—you will need a car to get around. Connecticut typically is one of the places with the highest gas prices in all of the United States. Cheshire has a few large grocery stores, so you can save some money on your grocery shopping. However, you would have to go to a neighboring town if you want to shop at Costco, Home Depot, or a similar big box store.

Here in Connecticut, we do have some other costs that some people don't expect. For example, there is annual property tax, not only on your real estate, but also on your car. We also have a sales tax of 6.35%, and you also will pay property tax on your home.

Enjoy Connecticut Living In Chesire

I hope this gave you some insight into the cost of living here in Cheshire, Connecticut. If you have any additional questions about Cheshire, please don't hesitate to reach out and ask. And if you’re thinking of moving or relocating here, somebody from my team would love to show you around and teach you all about Cheshire.

Don’t forget to subscribe to my channel if you want to receive more videos that are focused on everything Cheshire in Connecticut. Stay tuned to see what I feature on the next episode of CT Life!