Here's How to Clean Your Most Beloved Furniture Pieces

Every piece of furniture has a story. Maybe your mother gave you that armchair before she passed. Maybe you rescued that dining chair off the side of the road one day. Maybe you got that dining table at a garage sale and it has a crazy story attached to it.
No matter the reason, we know your furniture is special to you. That's why it's important to take extra care when cleaning it. Here's how to clean your most beloved furniture pieces.

Read the Tag
The biggest piece of advice we can give you is to follow the instructions on the tag for your upholstered furniture. Not every piece of upholstery should be cleaned the same way, since many pieces are made with different fabrics. You can check to see how each piece should be cleaned by turning the piece over or on its side and finding the tag.
The tag, however, is encrypted with shorthand: abbreviations that, when translated, reveal the secrets to cleaning your furniture. We can help you crack that code.
If you see these letters on the tags, here's what they mean:

• C is for Crypton cleaning.
• S is for solvent or water-free cleaning.
• SW is for water-based or dry-cleaning methods.
• W is for water-based cleaning.
• X is for professional cleaning.

Virtually Spotless Vinyl
It's pretty tough to get vinyl dirty because it's stain-resistant, but there are some resilient dyes and inks that can damage the material. To clean it, mop up the spill as quickly as possible with a damp cloth to avoid setting. Then, create a soap and water solution and clean the vinyl using a soft-bristled cleaning brush. Rinse the material and pat dry. The stain should be lifted!
For tougher stains, you might try concentrated cleaners. Follow the instructions on the bottle accordingly.

Wonderfully Clean Wood Furniture
Wood is easy to get dirty, but difficult to clean without damaging or scratching it. You can avoid rings and messes by using coasters, but if the damage is already done, here's what you can do to clean the wood.

If any kind of liquid spills on the wood, wipe it up as soon as possible. Even water can warp the wood if left unattended.

 Dust the wooden surface with a soft cloth. You can spritz some wood polish on the cloth before dusting if you'd like. Avoid using a washcloth, as this will scratch the wood's surface. If you use a certain type of wood polish, become a brand loyalist. You don't want to mix chemicals from different products, as this can also damage your furniture.

Cleaning your furniture is the best way to prepare your home for showing. For other tips on how to upgrade your home before selling it, call or email us today.

5 Lawn Care Mistakes That Can Destroy Your Yard

Everyone wants a lawn covered with lush green grass and verdant plants. But what mistakes are preventing you from achieving this? Read on to learn about some common lawn care mistakes and how to prevent them.


1. Cutting Grass Too Short
Experts advise cutting off no more than 30 percent of the grass blade in a single pass. Cutting your grass too short or trimming it down to half of its previous size might be appealing—after all, if your grass is shorter, it will take longer to grow back—but this is not good for the long-term health of your lawn.
In addition to damaging the blade, cutting your grass too short can indirectly damage the root system. This damage will limit the grass's ability to collect light and absorb water, leading to wilting or even plant death. Keeping your grass longer will help it to grow fuller and become more lush.

2. Using Only One Type of Seed
Using a mixture of seeds will result in a mixture of plant types. Different types of grass will survive better in different conditions. The different species will balance out each other's strengths and weaknesses, resulting in a more resilient lawn overall. This will make your turf more likely to survive extreme weather conditions such as prolonged heat or drought.

3. Ignoring the pH of the Soil
The optimal pH for grass is between 6.0 and 6.5. For reference, a neutral pH, such as that of water, is 7.0. This means that your lawn's soil should be slightly acidic in order to bolster plant growth. Sending away a soil sample for testing can be an easy way to get a gage on your lawn's pH. If the pH is out of whack, it can easily be adjusted using sulfur or lime treatments.

4. Forgetting to Sharpen Your Lawn Mower's Blade
A sharp blade will cut your grass more cleanly, while a dull blade can cause bruising and other damage to each blade of grass. Damaged blades of grass are more susceptible to death or disease, so using a sharp lawn mower blade can contribute to the overall health of your lawn.
Most people should sharpen their lawn mower blades approximately twice a year. A good sign that your blade is too dull is that your lawn mower is tearing or crushing your grass instead of cutting it cleanly.

5. Collecting Grass Clippings
Many lawn mowers come with an attached bag that will gather up the grass as it is cut. This is a visually appealing strategy, but it is not good for your lawn's long-term health. Instead, you should leave the grass clippings spread around your lawn. This self-mulching strategy will help fertilize your remaining grass. In particular, this is useful in maintaining your soil's nitrogen levels—a key factor in lawn health.

If you can avoid making these 5 common lawn care mistakes, you will enjoy a lush, green lawn throughout the year.

 

3 Tax Implications That Arise When You Sell Your Home

It's easy to get tunnel vision when selling a home. All you're focused on is whether you'll meet your asking price. Yet, if you aren't taking into consideration the tax implications of selling your home, you may be making a huge mistake. Here's what you need to consider before you sell.


1. You Pay Lower Taxes Only When Selling Your Primary Residence 
Homeowners get lots of tax rebates and credits. You can claim a tax deduction just for buying a new home. When you are selling your home, you need to know that these tax credits apply only if you are selling your primary dwelling, not your rental property or vacation home.

2. You May Exclude Gains IF You Meet Ownership and Use Tests 
How long you've been in your home will have a huge effect on how any gains made from selling your property are treated. Short-term gains get taxed higher than long-term gains. The IRS institutes the ownership and use tests to determine if a homeowner can exclude some or all of the gains from selling a home.
According to the IRS, you have to have both lived in the primary residence that was sold and owned it for a minimum of two years before it can be excluded. On top of that, those two years have to fall within a 5-year window between the date that you bought the property and the date that you sold it.
Say you sell your home for a million dollars. The most that you can exclude from your taxes is $500K if you own the property jointly with someone ($250K for individuals). The rest of the gains have to be counted and taxed as part of your regular income. If you lost money when you sold your home, you cannot deduct the loss from your income; it is just reported as a loss.

3. You Don't Always Have to Report a Home Sale on Your Taxes
Before you disclose any gains on your taxes, make sure that you actually have to report them. If you sold a small parcel of land for perhaps $20K, you may not even have to declare it: the reporting threshold is $250K for an individual.
If you have gains above and beyond that $250K, they have to be reported. Whether to exclude any part of your gains is up to you. You could choose not to exclude any of them.
You do have to report gains made from selling a second house, but you can still exclude any gains made from selling your primary home—that is, if you sell them both in the same year. You will have to pay taxes for at least one of these dwellings. And you have to report any gains from any rental property that you lease out unless you meet the ownership and use tests discussed above for rental properties.

For more information and advice on the tax implications of selling a home, call or email me today.

4 Reasons to Keep Baking Soda Around the House

It's 2017. Most people, by now, know that baking soda isn't just for baking: It's also a fantastic fridge deodorizer. (If you didn't know that, rename the title of this article "6 Reasons to Keep Baking Soda Around the House.")

But did you know that baking soda has about a bazillion other uses? To save us both some time, we narrowed down the uses we focus on to just four.
Here they are, in all their glory.

1. Use Baking Soda as Toothpaste
We know, we know – putting powdery baking soda straight into your mouth sounds like one of the least appealing things, ever. Hear us out: Just dip the tip of your toothbrush bristles into some baking soda, and start brushing those soon-to-be pearly whites. Baking soda whitens and brightens your smile like crazy.

If you're really having a hard time stomaching the flavor, you can always drop a bit of mint into your baking soda for something a little more toothpaste-like.

2. Use Baking Soda to Soothe Your Skin
Ever been stung by a bee or a wasp? There aren't many things that hurt like that hurts.
Baking soda can actually relieve the pain from stings. Take out the stinger first, and then apply a baking soda paste (mixed with water) to the wound.

This home remedy also works for itchy bug bites and even sunburn.

3. Use Baking Soda as Elbow Grease
Pans can be a pain in the pot to clean. Cooked-on food is basically human Kryptonite. Your mother always told you that everything can be cleaned with a little bit of "elbow grease," but if you haven't been hitting the gym lately, sometimes your "grease" is on short supply.

That's where baking soda comes in. Using a paste similar to the skin-soothing remedy, you can remove stuck-on food like you have, in fact, been hitting the gym.
Bonus feature: Baking soda also makes stainless steel pots extra shiny.

4. Use Baking Soda to Clean Your Bathroom
Sure, that name-brand spray cleaner gets the job done in your bathroom, but have you ever stopped to think what kind of chemicals are in there? What kind of chemicals you're breathing in every time you clean your porcelain throne?

Skip the poison shower, and just use baking soda. It's not just good for porcelain – it also cleans tile, counters, faucets and other stainless steel fixtures. If you want things fizzy clean, spray everything with vinegar first. Adding baking soda to the mix will fizz away all the grime, eliminating the need for the "elbow grease" we talked about earlier.

You want your house to be spotless when showing it to prospective buyers. If you need more tips on how to make your home sparkle before you sell it, give us a call.

 

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Learn All About the Top 4 Mortgage Questions

While you may be eager to start searching for your dream home right away, the first step in preparing to buy a home is understanding how much home you can afford. To figure this out, you should get pre-qualified or pre-approved by a lender, who will tell you the maximum amount you can mortgage. This will help you start searching within your price range. Now it's time to prep for your meeting with a lender, so make sure you know the answer to the following questions.


Do You Have Reported Stable Income?

Without a regular income, it is very difficult to get a loan of any kind. For a mortgage, it is important to be able to prove that you have a steady income by providing proof of income. This can be in the form of a paystub. The number of paystubs the lender would like to see can vary, but be sure you know how to access these documents so you can provide them. Also, if you are getting paid "off the books" or "under the table," you may have a difficult time getting a mortgage.

Who Will Be on the Mortgage?

If you are searching for a home not just for yourself and you have a partner involved, it is important to understand whether just one of you or both of you will go on the mortgage. In some cases, one partner may have better credit or financial standing than the other, so it may be beneficial to have just that one partner on the mortgage. On the other hand, combining two good credit scores and incomes can help increase the amount of the loan.

What Does Your Current Debt Look Like?

Take an assessment of what current debt you have and how much of your income it takes monthly. The lender will look at this to get your debt-to-income ratio, which can determine the confidence the lender may have in you as a borrower. If there is a debt you can easily pay off, then do it to free up more monthly income to put toward your future house and mortgage. It is also important to not take out any additional loans until after you close on your house, as this could change the amount of mortgage you can get.

What Is Your Monthly Budget?

It is important to understand what your monthly budget will be when owning a home. While you may be able to qualify for up to a certain amount on your mortgage, the monthly payment may be more than you can really afford. That is, it would leave you cash poor. Remember that you want to buy a house but also maintain a lifestyle you are comfortable with. Have in mind a monthly payment amount that would achieve this, and you can see what mortgage amount that could get you.
Also, it is important for negotiation purposes to know how much an extra $1,000 on the mortgage would add to your monthly payment.

If you would like me to refer you to one of the lenders I typically deal with, please feel free to reach out to me.

5 New and Improved Ways to Protect Your Home

While most people know that the best way to keep your family and home safe is to install an alarm system, new innovations in home security have made older alarm packages nearly obsolete. Because of this, it is important to know about all the must-have features for today's home security systems before you start looking to upgrade your home's security features. This includes easy, do-it-yourself additions, as well as more complex systems that may require the assistance of a professional.


Security Feature #1: Door Chimes
Many security systems will allow you to set a door chime to go off every time a door is opened or closed. This is useful because it is active at all times — not just when the alarm system is armed. Having a door chime will let you know anytime an exterior door is opened in your home. This chime can alert you to any number of things — from unwelcome intruders to wayward children wandering out of the house.

Security Feature #2: Video Surveillance Systems
While video surveillance systems have been in use for years, new advances have made them far more reliable and useful. You will be able to tap into your home's video system from your laptop, phone or tablet, making it easy to monitor the interior and exterior of your home on the go.

Security Feature #3: Doorbell Cameras
Many newer doorbells are equipped with cameras or video surveillance. For example, one popular model will send a photo to your phone every time someone steps onto your front porch. This will let you know who is there before you even open the door. This can be useful for security purposes, but also for more mundane purposes. For example, if you know that your visitor is just the delivery man dropping off a package, you will not need to rush to open the door.

Security Feature #4: Bluetooth Deadbolts 
Many newer door locks are Bluetooth-enabled. This makes getting in a snap — if you have your phone on you, simply tap the deadbolt and it will unlock due to the close proximity of your phone. This is more secure than a traditional lock that can easily be picked. You will also be able to remotely monitor your door using your smartphone. This way, you can double-check that the door is locked when you are at work or out running errands.

Security Feature #5: Floodlights
Having a motion-activated floodlight in your yard can help alert you to any nighttime activity outside your home. The threat of being detected can frequently scare away would-be intruders, so the floodlights alone are often enough to protect your home from a break-in.
Consider adding one or all of these features. They can provide you with both convenience and peace of mind.

 

4 Reasons to Consider Investing in Real Estate

Many serious investors are looking for ways to diversify their investments. Once you have maxed out your IRA or 401(k), you might look into investment strategies that do not involve more stocks and bonds. One popular way to diversify an investment portfolio is to purchase real estate. Investment properties can help increase your net worth over the long term, but they also have the added benefit of increasing your monthly cash flow.


Parents may also be considering buying a home for their young adult children, who can pay rent to their parents, perhaps splitting it with a roommate. Read on to learn about some of the reasons that investing in real estate is a great idea.

Reason #1: Real estate is an appreciating investment
While some markets can become stagnant or temporarily decrease in value, the long-term real estate market trend usually follows an upward trajectory. Over time, your property is likely to increase in value, allowing you to make more money if or when you eventually sell the property. As with most investments, there are no guarantees; but real estate can be an important part of a long-term investing plan.

Reason #2: Real estate can boost your monthly cash flow
A real estate investment can increase your monthly cash flow in the form of rent. This is a major selling point for many investors, since they may not reap the benefits of traditional investments until much later in life.

That being said, do not underestimate the cost of owning and managing a property. In addition to your mortgage payment, you will be responsible for property taxes as well as ongoing maintenance on the property. Some years, this might be a very small amount, but you should make sure that you are prepared for inevitable, pricey repairs as well. A good rule of thumb is to save between 10 and 20 percent of your rental income for future maintenance issues. In the long term, you will want to ensure that the rent payments you collect are enough for you to cover all of these costs and have a little extra left over as profit.

Reason #3: The longer you own an investment property, the more profitable it becomes
Every investor's goal is to increase his or her monthly cash flow and, in the long term, increase his or her net worth. Achieving this through investment properties becomes easier the longer you own a property. This is because rent prices and home values typically rise over the long term, but a fixed-rate mortgage remains the same.

Reason #4: Investing in real estate can provide immediate gratification
Some people prefer to own something concrete rather than relying on the volatility of the stock market. As long as you have a well-planned strategy for how you will pay the costs associated with your investment property, real estate is a relatively safe and stable investment.

If you have extra money that you would like to invest outside of your more traditional investments, and have carefully considered your long-term investment strategies and the risks involved, give us a call about properties you can buy to improve both your long-term investing prospects and immediate cash flow.

Keep Your Patio Furniture Looking Its Best

It's the time of year when the days are longer and outdoor furniture comes out of storage. Whether you lounge in handcrafted teak Adirondack chairs or pull up your favorite metal frame seat to your vintage glass-top table, patio furniture requires some necessary maintenance. Read on for our seven tips for maintaining your patio furniture.

1. Clean it periodically to prevent dirt and debris from dulling the finish.
Regardless of the material, the finish will eventually lose its sheen if left unattended. Besides that, you don't want pollen pants after sitting down on an unkempt chair in the springtime.
For that initial cleaning at the start of patio season, do not be afraid to rent a power washer. You'll save time and elbow grease by enlisting the help of a power washer in that scrub session.

2. Cover patio furniture when you're not using it.
Sun, wind and rain will eventually take their toll on fabrics, paint and stain. Using a custom cover or all-purpose tarp will help extend the life of your furnishings.

3. Keep rust under control by addressing the problem as soon as you notice it.
If you're in a humid climate, your metal patio furniture (or components like nails) is susceptible to rust. The brown, flaky stuff is the result of exposure to oxygen and moisture, unavoidable for outdoor furniture. Grab some WD-40 and a wire brush and scrape off the iron oxide before it spreads.

4. Mildew is not your friend for many reasons.
 It's smelly and unsightly and can cause health problems. It is a survivor, though, and will cling to surfaces like gum on the bottom of your shoe. Mildew does not fare well in the presence of vinegar or baking soda. Both readily available agents will eliminate blight on the surface and the interior of cushions. Plus, you can use it to clean umbrellas or other colorful accessories without the adverse effects of bleach.

5. Paint is your friend when it comes to maintaining your patio furniture.
If your metal table and chairs need a facelift, grab a few cans of spray paint formulated for outdoor use. Refresh the appearance with minimal monetary investment.

6. Water always wins.
Even if the fabric or treatment claims to be waterproof, at some point water will penetrate the coating. If at all possible, move furnishings indoors when the season is over. Inside is also the best place to avoid damage from high winds and hail.

7. Table glass looks best when you can see through it.
Prevent scratches, residue buildup and other blemishes by grabbing the rubbing alcohol and newspaper. Pour or spray liberally and wipe down with something you can recycle.

Whether you're cleaning for houseguests or planning to list your home for sale, connect with me for more ways to keep your home in tiptop shape.

Tips for Keeping Your Garden Alive This Summer

Your only option is to cover your garden when the temperature gets too hot to avoid a destructive sun. But doesn't that defeat the purpose of growing a prize-winning garden? So rather than hide your beauties under straw or mulch, try these three tips to keep your garden alive through the summer heat.

#1: Plant Shading Trees and Plants on the West

During the summer, the sun remains high and in the sky a lot longer than it does in winter. No matter where you are, the sun is going to set in the west.

That's why you should plant your garden on the west side of your home so the sun isn't beaming down on your garden at the hottest point during the day. Also, you could plant certain types of trees and vining plants to protect your more sensitive flowers from the summer heat. Try sunflowers, perennials and Asiatic lilies.

#2: Choose Plants and Flowers That Like the Heat

One of the easiest ways to protect your garden through the summer heat is to add plants and flowers that thrive in the heat. Some examples of beautiful and colorful flowers that withstand a lot of heat include:

• Salvias, which tolerate extreme heat and extreme cold.
• Coreopsis flowers, which are bright yellow and need very little water to thrive.
• Coneflowers that come in a rainbow of colors and can grow up to three feet.
• Rudbeckia, also known as "black-eyed Susan" perennials, which are drought-resistant and grow 48 inches high. Plus, you can cut them and stick them in a vase inside the house; they last longer than most cut flowers.

If you are growing a fruit and vegetable garden, tomatoes are surprisingly hearty against summer heat. Other vegetables like eggplant and black-eyed peas and certain fruits will also thrive in hot and humid weather.

#3: Water Your Plants in the Early Morning

Finally, you want to be careful about how you water your plants. There are several things you may not know that will help keep your plants from drying out this summer. The first rule is to water your plants early in the morning. If you water your plants at night, chances are you'll get some of the leaves wet. Overnight, that water can turn into mildew and disease.

Once the sun rises, the heat is going to burn off the water too fast for your plants to absorb it. In the morning, they will have a better chance of absorbing water. Second, just because it rains, it does not mean that your plants have had enough water.

You can measure by leaving a tuna can outside in the rain. One can equals an inch of rain. Your plants need a third of that every few days to thrive. If your soil gets too dry, it could become resistant to water and will need more water than usual.

The Expenses of Replacing Major Appliances

Major household appliances take a licking over their life span. Your fridge, your dishwasher and your oven all typically last a decade or more. When it's time to replace them, here's how much you can expect to pay for each, depending on the brand and the features.

Replacing a Fridge – At Least $800 New

Fixing an older fridge typically costs between one and a few hundred dollars. Older models with the freezer box on top are the cheapest, but most people opt for the side-by-side freezer box combination nowadays.

Box-top refrigerators will cost you around $800 to $900 on the low end, and up to over $8,000 for WiFi-enabled and over-sized models. The average fridge today costs around $1,500.

Replacing a Stove – At Least $500 New

Replacing your oven can get a little more complicated than replacing a refrigerator. There are so many different options for oven ranges and stove top combinations. First, modern stoves in high-end homes have trended toward the stainless-steel variety that gives a contemporary look to home interiors.

But there are so many more possibilities. Some ovens come separate from the stove top and grill. Burners vary from the old-school grated burners to flat, gourmet-style grill tops. You can buy double ovens and over-sized grills and even WiFi-enabled ovens that work with a smartphone.

For standard ovens with none of the bells and whistles, expect to pay a minimum of $500 if you can get a good deal. For a high-end, top-of-the-line stove and oven, expect to pay upwards of $2,000 or $4,000, on average.

Replacing a Dishwasher – At Least $600 New

Dishwashers don't typically last as long as other major appliances and therefore can be replaced for around $250 to $600 dollars, on average. Even the more expensive stainless steel versions with WiFi-enabled technology will only run you around $1,000.

Replacing a Washer-Dryer – At Least $1,000 New

Lastly, your washer and dryer may need replacing one at a time. It could be that your dryer conks out before your washer, and vice versa. Repairs typically cost a few hundred dollars for either.

To replace an old-fashioned, top-loading washer will cost anywhere from $350 to around $500. For the more modern and efficient front-loading washer, expect to pay between $1,000 and $1,500 just for the washer. Newer models also come with high-tech features that can push costs up even higher.

Dryers are about the same price to replace as washers, with nearly as many options. An older model costs under $500, but fancier, trendy dryers can cost over $1,000.
The trick is to replace items before they completely die and then force you to buy something new quickly. Plan in advance and keep an eye open for sales. If you make a purchase when it's not urgent, you have a better chance of spending less than you expected.

4 Signs It Might Be Time to Downsize

For years and years, we dream of the home we'd like to call our own. Your first home is usually cozy and warm, and then you start to have kids. This is typically the first time that homeowners believe that upsizing is necessary. Although the traditional notion for homeowners is that bigger is better, in some circumstances it might not be. As time goes on, there are more things you need to consider.
Read below to see the reasons you might think about downsizing your home.

Retirement
Approaching retirement is one of the most common reasons why homeowners think of downsizing. With retirement savings not lasting as long as most retirees expect due to the increased cost of living, and retirees needing more income because they are living longer, downsizing starts to sound like a great option.
Many retirees are hoping to stretch their retirement savings into the wee years of old age, so they are deciding to downsize their homes to save valuable cash each month.

Too much anxiety
Whether this anxiety is brought on by the physical upkeep of the home or other factors, once your home leads to more stress than it's worth, you may want to think about downsizing. Oftentimes, as they age, people are less able to care for their home the way they used to. Also, if one spouse passes on and the surviving spouse is left paying all the bills alone, it becomes hard to continue in a large home.
This may be the time to downsize — the price of a smaller condo or apartment is often easier for older people to manage, and the responsibility and cost of maintaining the home and most yard work surrounding the property is included in monthly fees. If your home is becoming a bit unmanageable, think about downsizing.

Unused space
If you feel like your home is swallowing you whole and you have a lot more space than you can easily use, it may be time for you to downsize. If unused rooms need cleaning because they are collecting dust and junk, it may be time for you to consider looking for a more realistic and manageable place to live. Maybe you can get a place with a pool that you can use often, or with a nice built-in patio grill to entertain.

Money opportunities
If your home has appreciated a lot and the money is for the taking in your neighborhood, consider downsizing and buying a nice luxury apartment with the money from the sale!

Hidden Ways You're Raising Your Energy Bills

Ever stare at your energy bill and wonder what is costing you so much money? Is it your kids' TV habits, or the washer or the dryer that is running up your energy bills? While your initial guess might be right — yes, your furnace and air conditioners are the biggest culprits of energy usage — you might be surprised by the amount of energy some of your smaller, everyday appliances are using.

1. Your Cable Box
While everyone has their never-ending list of must-binge TV shows, could you ever imagine that the cable box alone is one of the biggest energy hogs in your home? Whether or not you are watching TV, it is still using energy. A digital recorder estimates that the cable box in your home costs around $8 per month. Surprisingly enough, even if you have your box turned off, it's still using energy. TIP: Make a habit of unplugging your box at night; just don't forget to plug it back in when you're trying to watch TV again.

2. Gaming System
Second to the cable box comes the gaming system. While gaming systems are pretty energy-efficient these days, avid gamers spend approximately $40 extra per year on energy bills. TIP: Cut back gaming time.

3. Washer and Dryer
While some might think that paying $1.00 for a load of laundry at a Laundromat is expensive, the average homeowner spends around $400 per year just to keep their clothes clean and dry. A lot more than you thought, right? TIP: Since cutting back on the amount of laundry you do isn't the most efficient solution, try using energy-efficient appliances instead. While they may seem to present a pricey upfront cost, they will be well worth it in the long term. Upgrade your appliances to newer models for more savings in the long term. Also, try washing your clothes in cold water. To dry your clothes, add a dry towel to the load to absorb some of the moisture along the way, and cut the drying time in half.

4. Computers and Wi-Fi
In the technologically advanced world of today, computers and internet access are pretty much essential to daily life. While you're mindlessly searching the internet, answering emails and shopping online, it might quickly slip your mind how much you are spending to keep that connection going.
The use of computers and the internet costs on average $50 to $70 per year, which greatly varies depending on the number of users and what they are doing. Heavy video use and increased time online can all greatly increase this number. For individuals whose work relies on a computer and a strong internet connection, this number is likely much higher. TIP: How many times do you really need to view that video of the baby panda bears?

These are only a few of the appliances that raise your monthly bill — some more surprising than others. It's good to be mindful of your energy usage and keep it in control to maintain your energy costs.

Understanding Escrow Accounts: What You Need to Know

Buying your first home can be overwhelming, and one of the most intimidating components is the escrow account. What is an escrow account, what is it used for and is it really necessary? Keep reading to learn everything you need to know about escrow accounts.

1. What is an escrow account? An escrow account is a separate bank account that your mortgage lender uses to pay your property taxes and home insurance. Each month, at the same time as you pay your mortgage, you will pay a little bit extra that goes toward the escrow account.

2. How does this benefit me? The money in this account will add up over time, and when your yearly property taxes come up, the money will be there in your account, ready to go. This can minimize the stress that comes along with a high property tax bill. It can work the same way for home insurance.

3. How does this benefit my lender? Legally, the bank owns the home, so it has a special interest in making sure everything is paid on time. In some states, if the taxes on the home are not paid, the government might hold the lender accountable for any unpaid portion of the taxes. The bank also has a vested interest in protecting its property, so one of their priorities is making sure there are no issues with the payment of your homeowner's insurance.

4. Do I have to have an escrow account? If this streamlining of payments doesn't appeal to you, some lenders will allow you to pay your own property taxes and homeowner's insurance. In most cases, you will have better luck avoiding an escrow account if you owe less than 80 percent of the home's value. The downside of this arrangement is that the interest rate on your mortgage will typically be higher than it otherwise would be if you agreed to an escrow account.

5. What are the negatives of an escrow account? If you are naturally good at saving money, you might not need the help of a forced savings account like an escrow account. People with variable income might also prefer to save up for yearly bills at their own pace.

6. What happens if I change my mind? The requirement for an escrow account is usually written into your mortgage paperwork, but this can sometimes be renegotiated with the bank. It is common for home loans to be sold multiple times over the life of the loan, and each loan holder will have different policies regarding escrow accounts. 

If you are unsure about whether an escrow account is right for you, make an appointment to talk to a loan specialist at your bank or give us a call.

What Happens to My Mortgage When I Die?

While death is a little bit of a taboo topic, you are not the only one thinking about it and wondering, "What happens to my mortgage when I die?" Unfortunately, the mortgage payments don't just disappear. Truth is, this is something you need to think about in the unfortunate case that your mortgage outlives you, because if you default on your payments, the lender could foreclose on your home. This is not something you or your family wants to happen, which is why it is always smart to plan for the unthinkable.

This type of planning is usually done with an estate planning lawyer, who can help you put together a plan that will pass down your home to your children, grandchildren or whomever it is that you choose. Unfortunately, they don't just get a free home (unless of course it is paid for in full) — they also get the remaining mortgage payments that come with it.

If you mortgaged the property with a co-borrower, then the payments defer to them. The co-borrower would become the legal primary owner of the property and would reserve the right to live in it, under the assumption that they continue making payments and stay up to date with them. They also have the legal right to refinance the home or sell it. These laws tend to vary state by state, so make sure to double-check which apply to you.

If you don't have a co-borrower, then the co-signer takes the reins and decides what happens. This person then becomes responsible for making payments, selling the property or whatever it is that they choose to do. Just make sure the co-signer is aware of this and notifies the lender of the change, rather than just mailing in checks every month.

In the absence of both, you should be sure to designate a beneficiary of the property. This person would then become responsible for continuing payments or selling the property, same as a co-signer or co-borrower.

If you are nervous that the person you are leaving the property to might not have the funds to maintain it, consider adding some insurance. Options include life insurance or mortgage life insurance, also known as mortgage protection insurance, in order to assist the individual with payments and additional expenses.

In either case, the best plan of action is to prepare and be prepared for when the unthinkable happens. Draft a will or a trust and put all your wishes into writing. This is the best way to ensure that your assets will not only go to the individuals you choose, but also guarantees there won't be any family arguments on who gets to keep the house or who gets burdened with the mortgage payment. Protect yourself and protect your loved ones. If you need assistance or further insight, feel free to give me a call. I'm always here and happy to help.