The journey of homeownership is rarely a straight line. According to Census data, the average American can expect to move 11.7 times in their lifetime. The reasons for relocating can range from major lifestyle shifts to strategic financial decisions.

Here are a few of the primary milestones that lead people to start their homeownership journey over again.

Preparing for a Growing Family 

Homebuyers planning for a growing family often need more square footage. This might mean a bigger yard for a pet, an extra room for a nursery, or an in-law suite for a parent.  

Consider these options if your family is expanding: 

Home Renovation: If you love your neighborhood but need more space, consider using your existing home equity to fund a renovation before putting your house on the market.  

Moving Up: Upsizing to a larger property is a reliable way to gain space.  When searching for a new home, look for additional bedrooms, playrooms, or a large backyard to accommodate your future needs. 

Career Shifts and the New Workforce 

Whether you are moving because of a job relocation or taking advantage of remote work flexibility, career changes can be a strong motivator for a move. 

Job Relocation: A new opportunity or company transfer may require a quick move. Getting pre-approved early is essential so you can act fast in a competitive market and focus on getting settled in your new role. 

Remote Work Freedom: Many professionals are no longer tied to an office, allowing them to prioritize quality over a commute. This shift has led many to look for homes with flex rooms or homes with dedicated office spaces to support a productive work from home environment. 

Sending a Child to College 

Having a child graduate high school and starting their college education is a huge milestone! However, for many parents, this leads to an “empty nest” with more space than they currently need.

Here are some real estate options for a college transition: 

Downsizing: Many parents take this opportunity to move into a smaller home. This can lessen the financial burden of a large property or provide a lower-maintenance lifestyle through a homeowner’s association.

Kiddie Condos: Also known as a college house, many parents look to purchase a house near their kid’s college or university as an investment as opposed to paying for outside student housing. When going this route, your student may have roommates that will offset your mortgage payment along with the opportunity to gain equity during the college years. 

Strategic Retirement Planning 

Retirement offers more time and flexibility for travel and hobbies. During this stage, many people choose to invest in properties located in areas they truly enjoy. 

• Buying a Second Home: For many, owning a vacation property is the ultimate retirement goal. Having a dedicated getaway is a major win at this milestone.

  Consider purchasing a second home now to use as a vacation property and investment, with a plan to make it your primary residence later. Check out our blog on second homes vs investment properties to learn more. 

Multi-Generational Living: Caring for Aging Loved Ones 

As life progresses, being close to family often becomes a top priority and one of the primary reasons for making a move according to NAR. This frequently includes creating a dedicated space for aging parents or relatives. 

Accessibility Renovations: If you want to stay in your current home, consider a renovation to make the space more accessible or build a mother-in-law suite to accommodate your family.

Upsizing for Multi-Generational Use: If a renovation is not feasible, search for homes specifically designed for multi-generational living. Focus on properties with separate living areas, large kitchens, and floor plans that support the needs of aging family members.

Do you relate to any of these moving milestones? 

If you are currently experiencing one of these life changes, it may be time to speak with a loan officer about your goals. We are happy to explain your mortgage options and help guide you through your next move. Contact us today! 

Every June, we recognize National Homeownership Month as an opportunity to celebrate the impact homeownership has had on families, communities, and financial stability across the country. While buying a home today may look very different than it did decades ago, the desire to create a place to call home has remained constant throughout American history. 

Homeownership has long represented more than just owning property. For many families, it symbolizes stability, opportunity, generational wealth, and personal achievement. Understanding the history of homeownership can also provide a valuable perspective on how lending, affordability, and access to home financing have evolved over time. 

Whether you’re a first-time homebuyer, a move-up buyer, or simply exploring your options, here’s a look at how homeownership became such an important part of the American story. 

What Was Homeownership Like in Early America? 

In the early days of the United States, homeownership was far less accessible than it is today. Property ownership was often limited to wealthy landowners, and financing options were extremely limited. 

During the 1800s: 

• Most home purchases required large down payments  

• Mortgage terms were short, often 5 years or less  

• Many loans ended with balloon payments  

• Banks offered limited lending opportunities  

• Renting was common in growing cities   

During the 1800’s buying a home was not considered achievable for the average working-class family. 

In the 1930’s 

The modern mortgage system began to take shape during the Great Depression. 

As economic hardship increased throughout the 1930s, many homeowners faced foreclosure due to short-term loans and unstable lending practices. In response, the federal government introduced programs designed to stabilize the housing market and expand access to homeownership. 

Several major changes emerged during this time: 

• Longer mortgage terms became available  

• Fixed-rate mortgages gained popularity  

• Lower downpayment options were introduced  

• Government-backed loan programs helped increase accessibility 

These changes transformed homeownership from something reserved primarily for the wealthy into a more attainable goal for middle-class families. 

After World War II 

Following World War II, the housing market experienced major growth. 

Returning veterans created significant demand for housing, and government-backed loan programs helped many families purchase homes with more affordable financing options. Suburban communities rapidly expanded throughout the 1950s and 1960s, contributing to a sharp increase in the national homeownership rate. 

During this period: 

• New construction boomed  

• Mortgage accessibility improved  

• Monthly payment structures became more manageable  

• Homeownership became increasingly associated with financial success and family stability 

This era helped solidify the cultural importance of owning a home in the United States. 

Modern Homeownership 

The homebuying process has continued to evolve with changing economic conditions, technology, and buyer needs. 

Today’s buyers have access to: 

• Online home searches  

• Digital mortgage applications  

• Educational resources for first-time buyers  

• Downpayment assistance programs  

• Specialized financing options  

• More flexible loan products 

At the same time, modern buyers also face new challenges, including: 

• Rising home prices  

• Limited inventory in some markets  

• Higher interest rate environments  

• Student loan debt  

• Affordability concerns 

Despite these challenges, homeownership continues to remain a major financial and personal goal for many Americans, with many lenders offering resources to make it possible. At Southern Trust, our team is well-versed in offering guidance for buyers in any financial situation, with access to resources like: 

• Grants 

• Downpayment Assistance Programs 

• Rate Buydowns 

• Our Priority Approval Program 

• And more!

Ready to Make Home Happen? 

Whether you’re a first-time buyer or planning your next move, our team is here to help you navigate the mortgage process with confidence. From education to financing options, we’re committed to helping you make informed decisions every step of the way.  

Sources: https://www.huduser.gov/portal/pdredge/pdr-edge-housingat250-article-071025.html? ,  https://benefits.va.gov/homeloans/history/ 

Congratulations on Your New Home!

Closing on a new home is a huge milestone, and while moving is exciting, the to-do list can feel overwhelming. To help you with a smooth transition, we’ve rounded up the essential tasks you should tackle as soon as you get the keys.

Get to Know Your Home

Before you get into the nitty-gritty of unboxing, take a safety tour of your property.

• Locate Shut-Off Valves: Find the main water shut-off and gas valves. Knowing their location will be invaluable in an emergency.
• Label the Breaker Box: If the electrical panel isn’t labeled, take a few minutes to identify which breakers control which rooms.
• Organize Manuals: Gather all appliance manuals and warranties left by the previous owners and store them in a single safe location.

Change the Locks Immediately

Changing the locks is one of the most important safety measures for a new homeowner. You never know who has a key to the previous owner’s house. Whether you get a DIY kit from the hardware store or hire a professional locksmith, ensure your home is secure from day one.

Prioritize Safety: Test All Detectors

Your home inspector likely checked these weeks ago, but batteries can fail. Test every smoke and carbon monoxide detector in the house.

Pro Tip: Place a fire extinguisher on every level or your home, especially in the kitchen and garage. Make sure all family members know how to operate them in case of an emergency.

Perform a Deep Clean

It is much easier to scrub floors and steam carpets while the house is empty. Consider hiring a professional deep-cleaning service to sanitize the interior before your furniture arrives. This provides a fresh, blank slate feeling for your new home.

Tackle Renovations and Repairs

If you plan to paint walls, refinish floors, or install new carpet, do it before you move your furniture in. You’ll save time on prep work and protect your belongings from dust and paint splatters.

Get Quotes: If hiring contractors, aim for at least three quotes to ensure you’re getting the best value.

Home Warranties: Protect your budget from unforeseen appliance failures, consider investing in a home warranty.

Update Your Address

Avoid missed bills or lost packages by updating your address across all platforms:

USPS Mail Forwarding: Set this up online or at your local post office.

Financial Institutions: Banks, credit cards, and investment accounts.

Subscription Services: From streaming apps to meal kits.

With your administrative tasks out of the way, it’s time to step outside and begin the most rewarding part of the process: building a life in your new community.

Connect With Your Community

Once the boxes are mostly unpacked, take a walk around the block. Introduce yourself to your neighbors and explore local parks or shops. Feeling connected to your community is the final step in turning a house into a home.

Enjoy Your New Home!

Whether this is your forever home, or just a stepping stone, Southern Trust Mortgage is here to help you make the most out of your homebuying journey. If you have questions about your mortgage or future refinancing options, reach out to our team today!

Closing on a new home is a major milestone! While the transition can feel overwhelming, a proactive plan ensures your moving day is a celebration rather than a chore. But with the right plan in place you can make you move a smooth and easy experience. Follow this 30-day guide for a stress-free moving experience.

30 Days Out: Declutter and Strategize

With one month to go, your goal is to lighten the load. Moving items you no longer need costs time and money, so it’s better to start with a clean slate.

• Go through closest, drawers, and the garage (if you have one). Categorize items into keep, donate, or sell.
• When you visit your soon to be home measure your new floor plan to ensure your current furniture will fit the space.
• If you aren’t planning a DIY move, book your moving company now. Professional movers fill their schedules weeks in advance, especially for weekend slots.

Pro Tip: Start gathering supplies early. Beyond tape and bubble wrap, check local community groups for free recycled boxes to save on moving costs.

20 Days Out: Deep Packing and Logistics

Now is the time to get serious about packing. Start with non-essentials like seasonal clothing, books, and home décor.

• Label boxes by room and priority. Place heavier items at the bottom and fragile items on top.
• If you’re embarking on a long-distance move, take your car in for a tune-up. The last thing you want is a breakdown on moving day.
• Contact your service providers to schedule the transfer of electricity, gas, and water. Set these to activate on your closing date so you aren’t moving into a dark house.
• Visit the USPS website to set up official mail forwarding and update your billing address for credit cards and subscriptions.

Beyond the Post Office: Who Else Needs Your New Address?

Forwarding your mail the USPS is a great first step, but it’s a temporary fix. Take an hour this week to update your address directly with these institutions:

Employer & Payroll: Ensure your next W-2 or paycheck goes to the right place

Insurance Providers: Your auto, health, and life insurance policies need your new location to ensure coverage remains valid.

Bank and Investment Accounts: While your credit cards are critical don’t forget retirements accounts or 401k providers.

The DMV: Most states require you to update your driver’s license address within 30 days of a move.

10 Days Out: The Final Countdown

You’re in the home stretch! Focus on the “live-in” essentials and preparing the home for its next occupants.

• Pack a suitcase or clear bin with everything you’ll need for the first 24 hours: toiletries, chargers, basic tools, bed linens, and a few snacks.
• As rooms empty out, wipe down baseboards and vacuum floors. It’s a courtesy to the new owners and ensures you don’t leave anything behind in a dark corner.
• Empty the refrigerator of perishables and ensure all trash is scheduled for final pickup.

The Final 7 Days

As the countdown hits the one-week mark, the focus shifts from packing to logistics and living in the transition.

Confirm with the Pros: Call your moving company or truck rental one last time. Confirm the arrival window, the address of your new home, and any specific parking instructions for the truck.

The Essentials Grocery Run: Buy easy-to-eat, non-perishable snacks and paper plates for the first 48 hours. You won’t want to dig through boxes for a dinner plate or spend your first night grocery shopping.

Final Utility Check: Triple-check that your internet and cable are scheduled for installation. In a world of remote work, having wi-fi on day one is often just as important as having water!

Prepare Your Pets and Kids: Moving is a major disruption for the littlest members of your family. Pack a separate bag for them with familiar toys, favorite snacks, and any necessary medications to keep them comfortable during the chaos.

Moving Day

Perform one final walkthrough, lock the doors, and hand over the keys. Congratulations! You’re officially ready to start your next chapter.

The Closing Countdown: Red Flags to Avoid During Closing

While you are busy packing boxes, your mortgage lender is busy finalizing your loan. To make sure your loan stays on track for closing, avoid these four common pitfalls leading up to your move.

Don’t Make Large Purchases: It’s tempting to buy a new sofa or appliances on credit before the move. However, new debt changes your debt-to-income ratio, which could jeopardize your loan approval.

Don’t Open or Close Credit Accounts: Even if you’re just trying to consolidate debt, avoid opening new credit cards or closing old ones. These actions can cause sudden fluctuations in your credit score.

Don’t Change Jobs: Lenders look for stability. If you change careers or switch from a salaried position to a 1099/contract role during closing, it may require a brand-new manual underwriting process, delaying your move.

Don’t Make Large, Undocumented Deposits: If you receive a cash gift or move large sums of money between accounts, keep a paper trail. Lenders must source all funds used for your down payment and closing costs to comply with federal regulations.

At Southern Trust Mortgage, we’re here for more than just the loan, we’re here for the journey home. If you have questions about your upcoming closing or are ready to start your next application, reach out to our team today!