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Millennials are the largest generation shaking up the real estate market these days, according to research by the National Association of REALTORS. However, when compared with the generations that came before them, millennials remain delayed in purchasing their first home and are more particular about the features they want their home to have when they are finally ready to buy. One aspect of homes millennials are particularly interested in is technology, even when it comes to the garage. For the latest and greatest in garage trends, read on.

Access
Millennials use their phones for more than just communicating. They use them to buy coffee and to book exercise classes,as well as to pay friends and family. Access to the garage should be no different, and with the availability of garage door apps, homeowners can control entry to their home through their smartphones.

Security and Safety
More than 70% of homeowners use the garage as the main access point to the home, making safety and security a top priority when selecting the right home. Through LiftMaster’s partnership with Nest Cam, homeowners can have an added security element. With Nest Cam, users can also access a video feed of what’s happening in the garage the moment the garage door is activated, allowing for enhanced security and peace of mind. Garage safety is also vital when viewing a potential home or during home inspection; millennials should ensure the garage functions securely and safely.

Home Control
A connected garage is an easy way to make any home a “smart home.” When looking to purchase a home, millennials should examine the capabilities of the garage door opener. Is it Wi-Fi capable? Is it compatible with technology that controls the lights or thermostat? If not, consider asking the seller to replace the garage door opener with one that is.

Source: LiftMaster.com

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From a buyer’s standpoint, getting into a bidding war for a house they want is never fun. They can offer more money than they ever planned to spend and still end up without the home of their dreams. A real estate agent should be able to tell you ahead of time if bidding wars are likely in your desired neighborhood. Here are four real estate tips to win a bidding war, if it comes to that:

1. Make a high offer. Instead of making a low offer with the expectation that you’ll increase it if you have to, offer as much as you can afford immediately. Let the seller know this is your best offer, and that you can’t go any higher. This can help avoid any haggling back and forth, will save you time, and, hopefully, will get you the house. A variation of this method includes offering $20,000 or so above the asking price, showing upfront that you’re a serious buyer.

2. Have a big down payment.Having a large amount of cash for a down payment of 20 percent or more can show you’re a serious buyer. Get a preapproval letter from your lender, have paperwork proving you have the money, and pay a higher earnest money deposit, if you can.

3. Go conventional.Instead of getting an FHA or other government-backed loan that can have longer escrow periods, be approved for a conventional loan. This can require coming up with a bigger down payment and having a good or excellent credit score, but can lead to shorter waiting periods and show you’re a strong buyer.

4. Add an escalation clause.An escalation clause allows your real estate agent to go above the highest offer, but only to a point. For example, on a home with a listing price of $350,000, you could make an offer of $400,000 with an escalation clause of $5,000 over the highest price, but only up to $450,000. If another buyer offers $425,000, your automatic clause would increase your offer to $430,000.

However you enter a bidding war, always remember that your exit strategy is pretty simple”there are always other homes on the market waiting for you to buy.

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A vertical garden, also known as a living wall, is the ultimate way to bring nature into your home. Whether youre in the city and want to introduce some greenery into urban quarters or simply enjoy the relaxing ambiance of a wall clad with plants, there are many reasons to consider designing one in your home. Heres a breakdown of everything you need to know before getting started on your vertical garden:

Design Details
While you can simply mount a trellis on the wall, youll want to reserve that for the terrace or patio. Indoor living walls require a series of pockets to hold the plants and a drip irrigation system that will keep them healthy without making a mess of your home. They make the perfect addition to a living room, but keep in mind how much light each wall gets when deciding where to put the garden. You also don’t need to create large living walls or elaborate designs”small, simple gardens can still add to a room’s ambiance, so determine which type of design is right for you and your space.

Pick Your Plants
The amount of sunlight that the area receives will play a role in the plants best suited to your vertical garden. Golden pothos and crotons are popular choices because they tend to do well in bright, indirect light. Ferns are another favorite because they can grow quickly in shady places and create a verdant setting, though be aware that they do best in humid conditions.

Sit Back and Enjoy the Benefits
There are many immediate advantages to having a green living environment inside your home. For starters, it will improve your air quality and remove pollutants so you and your family can enjoy a healthier atmosphere. If you can hear the sounds of the city from your living room, or the kids are learning to play the drums in the room next door, youll be happy to hear that vertical gardens are also effective ways to reduce noise pollution. Lastly, plants are proven to reduce our stress levels, meaning this eco-chic design will help you relax each day.

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If your home needs repairs and you dont have enough money in your bank account, it can be tempting to use your home equity. Doing so might be your best option in some cases, but it can be risky.

When and How to Tap Into Home Equity for Repairs
The decision on how to finance home repairs will depend on whether they are urgent. A leaky roof needs to be fixed now, before it gets worse and you wind up with major damage, both inside and outside the house. Any issue that could put your family at risk or make your home uninhabitable, such as a broken furnace in the middle of winter, needs to be addressed immediately. In that case, you might have no choice but to access your home equity.

With a home equity loan, you can receive money in a lump sum and repay it at a fixed interest rate. Home equity loans typically have higher interest rates than first or second mortgages. Youll have to make monthly payments until the amount borrowed has been repaid.

With a home equity line of credit (HELOC), you can draw money as you need it, similar to the way a credit card works. Your monthly payments will be based on the amount of money youve used. HELOCs have adjustable rates, which means your payments may rise and fall.

When to Wait and Save
Optional projects, such as remodeling a bathroom or upgrading kitchen appliances, can wait until youve saved up enough cash. Saving the money ahead of time can help you avoid having to repay a home equity loan or HELOC with interest. In the meantime, you can look for other ways to make your home more comfortable, such as making smaller changes or tackling just one piece of a larger project.

Is Using Home Equity a Good Option for Home Repairs?
Some home repairs cant wait. In such a situation, you might have to access your home equity through a loan or line of credit. Before you choose either, make sure you understand how it works and the risks involved. If you take out a home equity loan or HELOC and dont make the payments on time, you can lose your home.

You shouldnt get in the habit of borrowing against your home equity, but rather should focus on saving and prioritizing and use home equity only when absolutely necessary. If you can wait to make repairs, saving the money first is a safer move.

This article is intended for informational purposes only and should not be construed as professional or legal advice.

Published with permission from RISMedia.

For veterans or service members looking to buy a home with a Veterans Affairs loan, there are some extra steps to take and home condition requirements that arent needed with other types of loans.

The home must be safe, clean, in good condition and move-in ready, partly because the U.S. Department of Veterans Affairs doesnt want to back a loan where the military members finances are at risk because they have to make unexpected home repairs.

The extra work can be worthwhile. VA loans are 0.25 to 0.50 percent lower than conventional loans, dont require a down payment or mortgage insurance, and have more flexible and forgiving requirements. Closing costs are limited and lenders fees are limited to 1 percent of the loan amount.

The government guarantees at least a quarter of the loan amount on a VA mortgage, which is why a down payment and mortgage insurance arent needed.

For buyers who qualify, here are some things to be aware of when buying a home with a VA loan:

Look for a move-in ready home.Homes that are structurally sound, safe and sanitary are more likely to pass the VA appraisal. The property must have adequate heating, roofing and safety features, and major issues must be repaired before the loan can close. If the VA expert has to return to reinspect something that needs to be fixed, the borrower will have to pay more inspection fees.

Be ready for an inspection.A home inspection is a normal part of buying a house, but a VA inspector will make sure the property is in good, working order. But a lot of the things theyll be looking at are cosmetic, which a regular lender wouldnt be concerned with. Though a VA inspection can sound like a professional home inspection, it isnt and buyers can hire their own inspectors after the VA one if theyd like.

And more inspections.The VA also requires some inspections that other lenders dont. A VA loan will require a pest inspection, along with a look at the septic tank, if there is one, and the water well if the property isnt on a city water line.

Quicker timeline.VA loans have tighter timelines than other types of loans, which is why hiring a real estate agent and loan officer who have experience with VA loans can make the process smoother. Active-duty service members can have short buying windows if theyre ordered to move to another base.

Published with permission from RISMedia.