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Joy of Homeownership

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News
June 29, 2023August 4, 2023 HomeSight

An Opportunity to Build Generational Wealth

Smith at the official opening of Bryant Playfield (May 4, 1978), Seattle Municipal Archives

“Safety,” “Security,” & “An Opportunity to Build Generational Wealth”

Today, the last day of #NationalHomeownershipMonth, our clients who benefitted last year from HomeSight’s Sam Smith “Hi Neighbor” Homeownership Fund tell us what the joy of homeownership means to them.

Last year, HomeSight partnered with Windermere Real Estate to create the Sam Smith “Hi Neighbor” Homeownership Fund, a loan product to increase purchasing power and bridge the affordability gap facing Black homebuyers earning between 80-120 percent of Washington state’s median income.

The partnership addresses the importance of helping a population that has been deliberately denied opportunity and aims to help fix the resulting, historically rooted imbalance. This collaboration linked key forces in real estate and housing opportunity, amplifying the impact of each and spurring more collaboration across the community. U.S. Bank, Key Bank, JP Morgan Chase and the National Association of Real Estate Brokers joined the effort.

This initiative was inspired by legendary Washington state legislator and Seattle City Council President Sam Smith, whose perseverance in passing the state’s Open Housing Law in 1967 resulted in a major, hard-won civil rights victory, ensuring that all people, regardless of race or religion, could live wherever they pleased. The fund’s name also gives a nod to Smith’s congenial personality.

The fund allowed eligible recipients to borrow up to $20,000 to layer into a mortgage loan to use toward their home’s purchase cost.

We’ve used their first initials only to protect their privacy. Here are their stories:

R is caretaker for her brother, who has a disability, and her mother. Homeownership gives her “peace of mind, stability, safety and security.” Because she can own her home “she’ll always have a place to live,” and she can “realize the benefits of equity in her home.”

S was “sick and tired of renting in Section 8 housing.” She wanted the “security of being on the top floor.” She cited security and stability as well as achievement of the goal of home ownership. “It’s a new starting point for building generational wealth,” she told HomeSight. “Homeownership is a huge asset towards my future.”

K was looking for a place with “enough space so she and her kids, her kids’ friends, and extended her family could spread out and relax.” She also wanted live close to public transportation with a garage and a yard that could accommodate a dog. She loves the feeling of “achievement of the goal of home ownership,” acknowledging it is “another step towards generational wealth” and would allow her “to leverage equity towards another home down the road.” Most of all, she wanted a place that she and her family “could call home.”

J, a teacher and lifelong resident of Washington, found renting in Seattle “really, really expensive.” He sought the financial stability of homeownership, and said he and his wife, son and dog are “really happy to own a home now.” The funding through this program made his family’s “homeowning dream come true.”

S and K, after living in Washington for 11 years, had decided to not buy a house, but life changed their minds. After their granddaughter was born, they wanted to “be nearby to provide support.” They found the cost of leasing versus buying “wasn’t that different” so they “decided to just go for it.” Safety factored heavily into their decision to move out of the city into Snohomish County. “I previously lived in Baltimore and Philly without feeling unsafe,” said S. “However, in 2021, within a span of six months, I witnessed two fatal shootings when I lived near Rainer Avenue South.” The experiences convinced her she “no longer desired to struggle navigating a big city.” The couple is accelerating their mortgage payments to significantly reduce the mortgage within 15 years. “Leaving a legacy of wealth across generations is important to us,” S said “We especially want to provide for our oldest son, who has a disability.”

Generations of people of color have been largely shut out from the benefits afforded by owning a home. Hearing this feedback from our clients makes us grateful for our community partnerships and hopeful for the future.

News
June 29, 2023August 4, 2023 HomeSight

Gardening with Native Plants

National Homeownership Month in June exists to remind Americans that homeownership is the foundation on which the American dream is built. That dream was historically denied to many, and HomeSight is working to right past wrongs by putting the joy of homeownership, and the keys to a financially stable future, into the hands of people who may have thought homeownership was out of reach.

This National Homeownership Month, HomeSight celebrates the Joy of Homeownership. Homeownership brings security and a place for families to plant roots and grow. It also presents new responsibilities. We hope the following series of posts will help our new homeowners unlock the door to all the advantages and joys homeowning can provide. Congratulations to all our HomeSight homeowners!

Gardening with Native Plants in the Pacific Northwest

You know you’re a real Pacific Northwest homeowner when you go to your first native plant sale.

At HomeSight, we hear from our clients that homeownership gives them “safety,” security,” “a place to spread out,” and “a place to plant roots.” Now that you own a home, those roots can be figurative and physical. Even if you’ve purchased a home in an urban space – such as HomeSight’s U-lex co-op in South Seattle – many of them feature opportunities to plant a garden. (If, however, you live in a condo that doesn’t offer gardening opportunities, and you want to feel some soil beneath your toes or fingers, the P-Patch program offers Seattle residents the opportunity to apply for a plot of land to grow their own food or plants of their choice.)

We recommend starting with native plants.

Why go native?

Native plants are plants that have evolved in a specific region and adapted to its climate, soil, and wildlife. They have natural resistance to pests and diseases, need less maintenance such as water and fertilizer than non-native plants, and provide food and shelter options for native birds, butterflies, bees, and other pollinators. Pacific Northwesterners are spoiled for choice when it comes to native vegetation. It’s abundant, easy to grow, and can even be fun to eat.

Here are just a few suggestions to start your garden:

Plant a tree:

  • Washington is home to 25 native tree species, including Western hemlock (the state tree), Western red cedar, Sitka spruce, red alder, Douglas fir, and ponderosa pine. Choose trees that tolerate the amount of sun and type of soil you have.

Liven up the lawn with shrubbery:

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  • Oregon grape: This evergreen shrub has glossy green leaves and yellow flowers in spring, followed by blue berries in summer. It can grow in sun or shade and tolerates dry conditions.
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  • Red-flowering currant: This deciduous shrub has fragrant pink or red flowers in early spring that attract hummingbirds. It prefers full sun and well-drained soil.
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  • Sword fern*: This large fern has arching fronds that create a lush green backdrop for other plants. It thrives in shady and moist areas.
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  • False Solomon’s Seal is a great choice for shady areas of your yard where grass has trouble growing. It spreads, so it will fill up an area nicely after planting.
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  • Rhododendron: Add Washington’s state flower, the coast rhododendron, to your yard. These shrubs can grow to the size of a small tree.

Add some color to your yard with flowers:

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  • Common yarrow has tiny white and yellow flowers, tolerate a variety of soil conditions and require little maintenance.
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  • Monkshood loves water-rich soil and shade and produces purple flowers that attract butterflies and hummingbirds. It blooms in July and August.
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  • Aster is a meadow flower that loves full sun and well-watered soil. They come in a variety of colors. produce colorful and fragrant blooms that attract butterflies and other pollinators. Arrowleaf balsamroot, a species of aster with a yellow, single-flower bloom, is important to bees and grows well even in sandy or gravelly soil.
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  • Western columbine has delicate red and yellow flowers that bloom from late spring to early summer. It grows well in partial shade and moist soil.

Eat your plants:

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  • One of the best parts of living in the Pacific Northwest is the abundance of wild berries. Raspberries, salmonberries, and huckleberries, to name just a few, grow everywhere. If you cultivate them in your yard, they might take over – and you might let them! (Be aware that Oregon grape doesn’t taste like a grape you’d buy at the store.)

There are so many more varieties and species to investigate and explore. If you’re looking to do a deep dive into Washington’s native plants and how they benefit the ecology of your yard, visit the Washington Native Plant Society or the National Wildlife Federation.

Happy gardening!

News
June 23, 2023August 4, 2023 HomeSight

Home Maintenance 101

National Homeownership Month in June exists to remind Americans that homeownership is the foundation on which the American dream is built. That dream was historically denied to many, and HomeSight is working to right past wrongs by putting the joy of homeownership, and the keys to a financially stable future, into the hands of people who may have thought homeownership was out of reach.

This National Homeownership Month, HomeSight celebrates the Joy of Homeownership. Homeownership brings security and a place for families to plant roots and grow. It also presents new responsibilities. We hope the following series of posts will help our new homeowners unlock the door to all the advantages and joys homeowning can provide. Congratulations to all our HomeSight homeowners!

Home Maintenance 101: Give Your Home Love, Get Joy in Return

Admittedly, home maintenance tasks may not top the list of fun weekend activities, but when it comes to home ownership, you have to give to receive. To receive the full joy of homeownership, you have to invest a little attention in your home at regular intervals throughout the year.

Why? Investing a small amount of time into your home can pay big dividends. When it comes to owning a home, prevention is always a less expensive strategy than having to call in the emergency plumber – and discovering he has regular rates and weekend rates. Murphy’s Law tells us that toilets don’t explode on weekdays during working hours.

To make sure your toilet and other home necessities never reach that point, HomeSight has put together a schedule of basic inspection tasks that can forestall and prevent costly problems, improve your home’s comfort, safety and appearance, and increase its value.  

Here is HomeSight’s checklist for basic home maintenance tasks every new homeowner should know:

Once a year:

water heater
    • Flush your water heater. This can remove sediment buildup, improve your water heater’s performance, and extend its lifespan.
    • Clean your dryer vent. Failure to clean the dryer vent was the leading cause of residential house fires between 2018-2020, according to the National Fire Incident Reporting System and the U.S. Fire Administration. You can hire a professional duct cleaner for this or consult YouTube for advice on how to DIY.

Twice a year, at Daylight Saving Time:

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You can remember to do all your twice-yearly checks by coordinating them with your clock changes on Daylight Saving Time Sunday. 

    • Check the pressure gauges in the fire extinguishers in your house. (We recommend keeping one on each floor.)
    • Clean your gutters and downspouts at least twice a year (more often if you have trees nearby). This prevents water damage, mold growth, and pest infestation, especially in Seattle’s climate.
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Monthly:

Young woman cleaning air conditioner at home
    • Check and change your air filters every month to improve your indoor air quality and reduce your energy bills.
    • Remove dirt, dust, and debris from your air vents and heat registers each month. Clean vents to keep your appliances efficient and remove circulating dust and dander from the air.

Every Fall:

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    • Keep your outdoor faucets from freezing over the winter by closing off your shut-off valve before temperatures drop. (Your realtor or home inspector can help you find your water shut-off valve!) Then drain the line to make sure there’s no water trapped inside.
    • Make an annual appointment to have your furnace inspected to make sure it’s properly maintained before winter. These maintenance checks will always be more cost-effective than emergency repair calls, and less life-disrupting!
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After it rains:

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    • As you get to know your house, check for damp areas or moisture intrusion in gaps or cracks around your windows, doors, pipes, or vents. Use caulk or weatherstripping to seal any minor leaks you find. Check your attic for any signs of water intrusion or insulation issues. If you find any problems, contact a professional roofer as soon as possible.

After you do laundry:

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    • Get in the habit of cleaning your lint trap every time you use your dryer. This can prevent fires and improve your dryer’s efficiency.

Today:

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    • Set reminders on your phone or calendar to remind yourself to do these, and you’ll find yourself creating habits in no time. Enjoy your clean, safe, efficient home!

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