Kalamazoo Archives | Page 4 of 4 | Honeybee Homes, LLC | We Buy and Sell Grand Rapids Real Estate

Should You Rent or Buy Your Next House in Grand Rapids?

Posted on by

Should you buy or rent your next house? For many decades, it seemed to be a no-brainer: if you were able to buy a house, you did it! But now, with more mobile lifestyles, changing housing markets, and the high quality of available rentals, it can be a tougher decision.

So how do you decide if you should rent or buy your next house in Grand Rapids? In the end, it is a very personal decision. However, here are a few key things to think about as you consider your options.

1. Length of Stay

First, how long do you plan to live in your new house? Are you confident that you like the neighborhood, the school districts, and the commute to work? Think long term.

If you don’t think you’ll continue to enjoy the location in a couple of years, choose to rent. If you’re not ready to settle down, buying doesn’t make much financial sense. Continue reading “Should You Rent or Buy Your Next House in Grand Rapids?” →

How to Win at MONOPOLY (and Then Apply Those Lessons) – Part II

Posted on by

In Part I of this post, we talked about a few excellent ways to win at MONOPOLY. In the board game universe, those strategies and ideas will serve you well, and lead you to many victories.

But what about the real world? Sure, it might be fun to win on a cardboard square, but how can we apply these same principles to our lives? Fortunately, the game offers many parallels, and if we learn those lessons, we can put ourselves in much better financial positions.

1. MONOPOLY Lesson – Buy everything you land on.
REAL LIFE Application – Buy assets, not liabilities.

In Monopoly, buying everything you can early is a good strategy. It provides assets you can use later, and each one can be a key piece in creating monopolies, making trades, and building wealth.

This works in the game because every purchase in the game is a money-maker. Even the cheapest properties, with no houses added, will give you a few dollars in rent. Real life is very different! Continue reading “How to Win at MONOPOLY (and Then Apply Those Lessons) – Part II” →

How to Win at MONOPOLY (and Then Apply Those Lessons) – Part I

Posted on by

Do you hate Monopoly? Do you feel like the game is all about luck? It can be an extremely frustrating experience, especially if you’re on the losing end.

Because of our work in real estate, we get asked about this game a lot. And as it turns out, there are plenty of tips and tricks to help you win. On top of that, there are a ton of real-life lessons we can pull from this 80 year old game. So grab your tiny metal dog, and dig in!

1. Buy everything you land on.

In the beginning, everyone starts from the same square, with the same amount of money. So, once you roll the dice for the first time, what is your best move? BUY EVERYTHING.

If you land on it, purchase it. This is by far the cheapest and easiest way to acquire properties, and all of them get snatched up in a hurry. Don’t worry if you don’t have any other properties in that color, or it’s a low rent part of the board. Each property is an asset that you can use later to build a monopoly, mortgage for cash, or trade. And since every property makes money, you’re off to a good start.

Even you have to mortgage a property to buy a new one, it is worth it. Those cards become very valuable!

2. If someone is selling property, buy it.

If another player doesn’t want to buy a property THEY land on, it goes to auction. In other cases, people will want to sell a non-performing property to get some cash. If you can, buy these properties as well. Continue reading “How to Win at MONOPOLY (and Then Apply Those Lessons) – Part I” →

4 Crucial Things You Need to Check BEFORE You Buy a Lake House in Grand Rapids

Posted on by

Michigan is a beautiful place, and we are blessed with abundant lakes. While many of these are protected resources, we are fortunate to have many waterfront properties for sale. Whether you love paddleboating in the spring, wakeboarding in the summer, or ice fishing in winter, lakefront living is great.

However, waterfront homes in West Michigan come with many extra challenges. To keep you from being blindsided, here are four crucial things you need to check BEFORE you buy a Grand Rapids lake house.

1. Structure and Damage

Lake houses take a lot more abuse than inland homes. This is due to different factors, including added moisture in the air, reduced tree protection from the elements, and more extreme temperature changes. As a result, it can be considerably more expensive to properly maintain a lake house in Grand Rapids.

In addition, many waterfront homes were initially built as cottages. We often see signs of rushed construction, reduced insulation, and cheaper materials throughout lake houses. Because of this, they can become run down faster than average.

Whenever possible, get an inspector who has experience with this type of home. They are quicker to identify waterfront-specific problems, and can often recommend contractors with experience in fixing them. Continue reading “4 Crucial Things You Need to Check BEFORE You Buy a Lake House in Grand Rapids” →

5 Negotiation Tips (to Avoid Getting Bullied) when Buying or Selling a House in Grand Rapids

Posted on by

If you’re getting ready to buy or sell a house, it’s easy to get stressed about the upcoming price negotiations. How do you handle offers? Counter-offers? Requests for repairs? It can seem pretty daunting.

However, the negotiations don’t have to be stressful. After all, both parties ultimately want a successful sale! While entire books have been written on bargaining, let’s hit a few high points to make sure you don’t get bullied at the closing table.

1. Prepare in advance.

Most people think of negotiations as high-pressure moments, where power plays, shrewd moves, and witty one-liners win the day. While this looks great on TV, most of the work happens long before you submit an offer. Continue reading “5 Negotiation Tips (to Avoid Getting Bullied) when Buying or Selling a House in Grand Rapids” →

4 Crucial Steps to Achieving Your Real Estate Goals in Michigan

Posted on by

Do you have a real estate goal for the coming year? Perhaps you want to move into a nicer apartment, or transition into a new house. Maybe you would like to start investing in rentals, or undertake a renovation that you’ve been waiting on for years. Whatever the case, you need a solid plan!

So, whether you’re in Grand Rapids, Kalamazoo, or another part of Michigan, here are 5 crucial steps to help you reach your real estate goals.

1. Decide What You Will Achieve

This is the crucial first step. What do you want? Be as specific as possible. What will you achieve, and when do you want to accomplish it? What are you willing to give in return?

Choose a single goal. If you split your attention between multiple objectives, it is easy to lose focus; you may end up falling short on all of them. Reaching what you want is hard work, and if you are able to have a laser-like focus on your end game, you are much more likely to achieve it.

The Latin root of the word decide is decidere, which meant “to cut off all other options.” Choose a goal that is important to you, and DO NOT STOP working for it, no matter what.

There is great power in this type of decision! Continue reading “4 Crucial Steps to Achieving Your Real Estate Goals in Michigan” →

7 Great Reasons to Invest in Real Estate

Posted on by

When you’re building for your financial future, you have a ton of choices about what to do with your money. You can invest in the stock market, help build businesses, purchase commodities, or bury treasure chests in your backyard. The options seem endless!

We would like to make a case for real estate. While every option has its advantages and disadvantages, there are a TON of reasons to seriously consider investing in land, buildings, and homes. Here are a few of our favorites.

1. Flexibility

First, there are many, many ways to invest in real estate. Most people think they can choose to either A) flip houses (thanks HGTV!) or B) become a landlord. While these are popular, and potentially profitable, options, your choices don’t end there. Continue reading “7 Great Reasons to Invest in Real Estate” →

The Ultimate Guide to Buying and Selling Real Estate in Grand Rapids, MI

Posted on by

Buying and and selling houses can be tricky. Here in Grand Rapids, MI, we have a huge variety of markets and sub-markets, wildly different seasons, and enough options to make your head spin. Do you buy a historic home in Heritage Hills, or a brand new build in Walker? A side-by-side duplex in Kentwood, or a 3/2 in Wyoming?

What about the Kalamazoo, Portage, or Parchment areas? Am I crazy to consider a rent-to own, and will a new build be way too expensive? All of the questions can drive you nuts.

Fortunately, we can cut through the clutter. If you’re looking to buy or sell a house in Grand Rapids, MI, or the surrounding areas, read on!

How to Find Real Estate Deals

Let’s start on the purchasing side. Where do you start if you want to find the right home for your family (or the perfect investment)?

The ‘Tried and True’: First, you can talk to a Realtor. The right Realtor can provide a huge boost to your home search. Since they work in your local market every day, they often get wind of great deals before they hit the MLS. In addition, many homes are easier to access if you have a Realtor on your team. They can show you a dozen houses in a day if you like. Visit this page for great tips on picking the RIGHT Realtor.

The ‘Tech Savvy’: The internet has a huge number of sites where you can look up available homes for free. Zillow.com, Trulia.com, Realtor.com, FSBO.com, and ForSaleByOwner.com, are excellent places to start. Looking through these sites can give you a great idea of what is available here in Grand Rapids, MI.

The ‘Do-it-Yourself’: If you are willing to put in the work, you can find and create your own deals. While this is more of a commitment, these ‘diamond in the rough’ properties often wind up being great deals. Many of the best deals and homes aren’t listed on the MLS, so you’ll either have to find your own motivated sellers or know someone who does. Which leads us into our next point… Continue reading “The Ultimate Guide to Buying and Selling Real Estate in Grand Rapids, MI” →