Everything You Need to Know About Insulation

Insulation is a simple concept. It keeps your home warm in the winter. Did you know it also keeps your home cool in the summer? And did you also know that what you have may not be doing a good enough job? We don't often reevaluate our insulation, so it might be a great time to take another look and make sure you have the solution you need. 

Energy Efficiency
Did you know that the insulation of your home makes up about 40% of its energy efficiency? Gaps, holes and other areas where air escapes or comes into the home when not needed can all play a factor in how well your home is heated and cooled. 

Mold Problems
Insulation, including fiberglass and cellulose, can produce mold. Fiberglass itself doesn't encourage mold growth, but it can get dirty, and that dirt can be a breeding ground for spores. How well your insulation is sealed to prevent water infiltration will go a long way to preventing mold. 

Your Attic
Do you remember your mom telling you that you lose most of your heat through your head, and that's why you should wear a hat in the winter? While that's an old wives' tale, your house does suffer from a similar phenomenon. Homes without adequate insulation will lose a lot of heat through the attic, which can affect your overall home efficiency. 

Types of Insulation
There are a number of materials that are used for insulation. They all have a variety of pros and cons that you'll need to weigh before making your choice. The most popular materials are: 

• Fiberglass.
• Mineral wool.
• Cellulose.
• Polyurethane foam.
• Polystyrene. 

Before you decide which one works best for you, we encourage you to review the products and talk to experts. 

Venting
Your insulation choice needs to be paired with the proper kind of venting to make it work. If there is too much moisture, you run the risk of mold. But if you have no ventilation at all, you've created a closed system that won't be able to properly vent hazards such as carbon dioxide. Pairing your insulation with proper ventilation will be essential. 

The R-Value
Lastly, we should mention the most common rating system for insulation. You'll see that manufacturers refer to their products by the R-value. This is the capacity by which your insulation can resist heat flow. The higher the number, the more insulative your material is.

Keep in mind that the specific R-value number you need will vary based on your location. Minnesota has very different insulation requirements than Southern California does, for example. 

Save Money and Conserve Energy

Have you thought about the ways you can save money and energy in your home? It's easier than you think and doesn't have to cost you a fortune. Some options may have larger upfront costs but will pay for themselves quickly. Here are just a few things you can consider to conserve energy in your home. 

Programmable Thermostat
If your home still has an old-school thermostat, it may be time to upgrade. A programmable thermostat can give you the ability to set times for when the heat or air conditioning goes up or down, depending on your schedule. And you don't need to do anything — just set and forget. If you want to get really 21st century with it, there are now smart thermostats that you can connect to from your phone and control even when you're not home. 

Ceiling Fans
Something as simple as installing a ceiling fan can help you save energy. It moves air around your home, increasing circulation and allowing your furnace or air conditioner to run less. Ceiling fans aren't useful only in the summer. Most have a setting for winter, too, which will push the warmer air down, so your heat is more efficient. 

Appliances and Fixtures
Many years ago, appliance manufacturers began selling appliances with the sole purpose of efficiency. For example, an energy-efficient dishwasher or washing machine will use less water to get your dishes or clothes clean. And you can also install fixtures to help with water conservation, such as low-flow toilets or showerheads. 

Change Your Lightbulbs
Simply changing out your lightbulbs from the old incandescent, or even the more recent fluorescent, can help. Today, LED lightbulbs are much more affordable than they once were, and they use a fraction of the energy. They also last longer, which can help your budget in the long term. 

Insulate Your Home
Have you checked out your insulation lately? It's probably not something you've thought about recently, but it's a good idea to look at what you have to work with. Certain types of insulation are better than others. And some people don't realize that their home isn't as efficiently insulated as it could be. 

I hope these tips were useful for you.  Call me with your real estate questions or to help you buy or sell a home. 

4 Tips for Upgrading Your Kitchen on a Budget

After living in a home for a few years, you might start itching for a kitchen upgrade. However, it can be difficult to come up with a list of kitchen upgrades that you can complete on a budget. The average kitchen remodel costs nearly $20,000—a figure that is far beyond the reach of the average family on a budget. Instead of doing a full kitchen remodel, consider taking advantage of some of these affordable kitchen upgrades that will not break the bank.

1. Replace Outdated Light Fixtures

One of the most obvious signs of age in your kitchen is a dated light fixture. A brightly colored pendant light will give your kitchen a more modern look. These can be found online at surprisingly affordable prices. Taking some time to shop around is well worth your time. 

2. Install New Handles or Pulls for Cabinets and Drawers

Cabinet fixtures come in a wide range of colors and styles that include everything from traditional metal handles, such as copper or brushed nickel to trendy styles like handles that resemble tiny silverware. Replacing your cabinetry hardware is a quick, easy and affordable way to give your kitchen a facelift. 

While some people love trendy designs, carefully weigh your options before settling on something unusual. You might like it now, but how will you feel about it a year from now? You will not want to spend money replacing the handles again if you get tired of them or if the trend goes out of style.

3. Repaint Your Cabinets

If just replacing the hardware is not enough, consider repainting the entire row of cabinets. For the cost of a can of paint and a few hours of your time, you could have your kitchen cabinetry looking as good as new. Brand-new cabinets can be a costly upgrade, but freshly painted cabinets are almost as good at a fraction of the cost. 

4. Remove Cabinet Doors

If repainting your kitchen cabinets does not appeal to you, consider removing the doors entirely. Open-faced cabinets can instantly give your kitchen a more modern look. The one drawback to this strategy is that you will need to keep the contents of your cabinets neat and tidy in order for it to work. For this reason, many designers use open-faced cabinets on the upper levels and traditional closed cabinets on the lower levels.

Using one or all four of these strategies can help give your kitchen a facelift without breaking the bank or going over your budget on the project.

The Myth of the 20% Down Payment

You may have been told that you should put down 20% to buy a home. This may give you more choices and let you avoid private mortgage insurance, but this large amount may not be prudent, or necessary, in all circumstances. Some experts advise keeping your mortgage down payment small — a strategy that sets you up so you'll be better assured of liquidity when life happens.

What's going to happen with the economy? No one can be sure, but it's pretty certain that the economy and home prices are closely linked. That's why buyers who make large down payments find themselves overexposed to economic downturns compared with buyers who made small down payments.  

Take this scenario: You make a 20% down payment on a home. What you're really doing is converting $80,000 on a $400,000 house to build liquid home equity. What if, instead, you opt for the Federal Housing Administration mortgage program, with a down payment of just 3.5%? In this situation, that's only $14,000 down.

Now, if the economy turns for the worse, home values will plummet — in some markets dropping as much as 20%. These buyers' homes are now worth $320,000 with no home equity yet available. The buyer who made the large down payment finds that the money is lost and can't be recouped until the housing market recovers. The buyer who put down only $14,000  transferred the risk to the bank. The smaller down payment translates to a smaller risk.

You may say that a large down payment helps you afford more house, but turn that around: Maybe you shouldn't use your last dollar. You don't save a ton of money each month by putting down a lot.

And yes, there's always the PMI issue: When you get a conventional mortgage with a down payment of less than 20%, you have to get private mortgage insurance. However, if you go the FHA route, the agency doesn't charge more to people with lower credit scores, while PMI does. However, you cannot cancel annual mortgage insurance premiums if you put down less than 10% on an FHA loan.

Ultimately, it's wise not to deplete your retirement savings account or emergency fund to buy a home. You might need money to make repairs after moving in or run into a financial hardship. You won't have a cushion to fall back on. 

Besides, if you take advantage of down payment assistance programs that provide grants or loans, you can buy a home with only 3% down. And research shows that millennials tend to go with lower down payments than older generations did.

What this tells us is that the 20% down payment is no longer the standard: Down payment assistance programs are available. The 20% down payment myth is dispelling, opening the path to home ownership to younger generations. 

The bottom line? Don't make assumptions and get professional financial advice before choosing a mortgage and making a down payment decision.

 

Protect Your Home From Cyber Attacks

More than ever, hackers are exploiting security flaws to break into home networks, and the United States homes are the most hit. According to Hartford Steam Boiler, one in every ten homes has experienced a cyber attack. Victims of cyber attack have minimal knowledge of security hence the increase in these attacks.  However, you do not have to be a security expert to protect your home from cyber attacks. Here, you'll learn how to protect your home from a cyber attack.

Keep your software updated 
Many of the security flaws exploited by attackers have been found and corrected by the software developer. However, as a result of software users not having the updated version, they still fall for the attacks. At any point in time, keep your Operating System (OS) and application software up to date and never play with security updates. It is advisable to turn on automatic updates – most programs have this feature.

Secure your network
It is no news that your home network is a crucial target for those into cyber crimes. What is new is how unsecured some people unknowingly leave their home networks. Keeping your home network secured is one of the undoings of cyber attackers. To ensure your home network is safe, you can do the following:
- Keep your home router name private.
- Change its default login details.
- Create a secure password comprising symbols, letters, and numbers.
- Use WPA2 instead of WEP.Make sure you activate your router encryption.

Secure your phone
Your smartphone brings with it a lot of ease. With it, you can control devices in the home through their apps. The disadvantage is that you give an attacker access to the home devices once he/she has your smartphone. To prevent this, secure your phone with a strong password comprising symbols, letters, and numbers.

Set up anti-virus and firewall
One of the ways to protect your home from cyber attacks is by having an anti-virus program on your system. While free anti-virus can protect you, it is best you go for paid ones. Paid anti-virus provide better security and protection. Also, make sure your firewall is on as it can identify and prevent a cyber attack.

Mind what you download and install
This is an essential point many people give little attention to. Before downloading anything from the Internet, make sure the source is credible to avoid downloading software, documents, and other files that may be infected sources. Always read the privacy policy before doing any form of downloading and installation of software. It is essential to avoid carrying out financial transactions on without an SSL certificate.

Back up your data
It is essential to back up your data regularly just in case. Backup should be done weekly and will help in cases you got attacked and denied access to your data.

3 Important Tips for Selecting Bathroom Flooring

One of the most important factors to consider when updating or remodeling your bathroom is the type and style of flooring that you will use. Before you pick materials on "looks" alone, use these tips to help you find the right match.


Tip #1: Explore all of your options for types of flooring.

Vinyl. It's the most popular choice for bathroom flooring, and for a good reason. Vinyl typically comes in 6- or 12-foot-wide rolls, making installation a snap. Using vinyl rolls can achieve the seamless look that many homeowners prefer. Another popular option is vinyl squares or tiles, which are easier to handle and install, but have more seams that can collect dirt and mildew. Vinyl flooring comes in a multitude of colors and patterns, ensuring that homeowners can find a design that will work in their bathroom.

Carpet. While this is not most people's first choice for bathroom flooring, there are plenty of water and stain-resistant carpeting options that could work great for your bathroom. Carpet has the added bonus of being warm and soft, something that you will not find using cold tile or stone building materials.

Ceramic tile. This typically comes in squares that are between ½ inch and ¾ inch thick and measure anywhere from 4 inches by 4 inches to 24 inches by 24 inches. When you are choosing ceramic floor tiles, it is important to check on the porosity rating. For a moist environment such as a bathroom, you will want to choose a type of tile that is as minimally porous as possible.

Hardwood. Many people like the warm look of hardwood flooring, and if you have hardwood floors throughout your house, extending them into your bathroom can help create a cohesive look.

Laminate. A type of layered flooring that is resistant to damage and easy to clean, laminate is a popular choice for busy families. This type of flooring is relatively affordable, allowing you to give your bathroom a new, clean look without breaking the bank.

Natural stone. This kind of flooring is usually cut into square tiles. Many varieties come in 12 inch by 12 inch squares, but some manufacturers prefer larger or smaller tiles depending on the type of stone. This material is easy to care for and keep clean, but one important consideration is whether your sub-floor is strong enough to support this heavy building material.

Tip #2: Shop around.
Different vendors might have drastically different prices for similar flooring materials, so make sure you get a few quotes before you make your final purchase.

Tip #3: Measure carefully! 
The last thing you want is to run out of flooring before you finish remodeling your bathroom, so try to make sure you purchase a little bit extra, just in case. This is especially important if you are using stone or ceramic tiles – it is common for a few tiles to crack or break during transport.

Once you have purchased your flooring materials, you will be well on your way to having an up-to-date bathroom floor.

10 Ways to Save on Utility Bills During the Summer Months

The summer heat is often the culprit behind jumps in electricity costs during the summer months, so do what you can now to conserve energy and avoid additional costs as the weather heats up. If you're looking to cut back on your spending throughout the summer, your utility bills are great places to start when making changes to your everyday life.



Here are 10 ways to save on utility bills during the summer months, adopt an environmentally friendly lifestyle and avoid overspending on household expenses this year.

1. Switch Off the Lights When You Leave a Room – Turning off the lights when walking out of a room is a great way to curb your energy consumption in the summer.
2. Use Rain as a Free Water Source – Collecting rainwater in buckets during a storm is an active way to cut down on your water usage while taking care of your yard this season.
3. Close Your Blinds and Curtains During the Day – Keeping the heat out on bright, sunny days is an effective way to control your energy expenses this summer.
4. Keep Doors and Vents Shut – Closing off parts of your house where you don't spend much time is a convenient way to limit cooling costs while at home during the summer.
5. Spend Your Free Time Outside – Going out every day to embrace the warm weather and enjoy the great outdoors is a smart way to use less energy in the summertime.
6. Find Creative Ways to Cool Down – Drinking ice-cold beverages and taking cool showers are small ways to save money on utilities while making the most of the summer.
7. Put Wet Clothes Out on a Clothesline – Using the hot summer sun to dry your clothes after washing them is an effortless way to reduce utility bills and spend time outside.
8. Monitor the Temperature on Your Thermostat – Setting a default number for your air conditioning is a simple way to keep your energy bills from rising when it's hot outside.
9. Opt for Fans Instead of Air Conditioning – Circulating air throughout your home with fans is an economical way to cool down your living space while using less energy.
10. Unplug Electronics That Aren't Being Used – Pulling out their cords when you're not using your electronics and chargers is an easy way to limit your energy usage this summer.

These 10 ways to save on utility bills during the summer months will keep you from breaking the bank when the weather gets warmer this year. Whether you're focused on using less water, running your air conditioning on a lower setting or another method, it's possible to cut back on power usage and save money in the process. I hope these tips were helpful.  Please don't hesitate to reach out to me if you or someone you know are thinking about buying or selling a home.

What Color Should You Paint Your Front Door?

Everyone agrees that curb appeal is essential. Not only do you want to enjoy the look of your own home, it's also the first thing potential homebuyers will see. Since your front door is often exposed to the elements, a fresh coat of paint every few years isn't a bad idea. What color do you choose, and what does your choice say about you? Here are some of the most popular choices.

Bold and Bright
If your homeowner's association allows it, don't be afraid to go bold with your front door color. Some popular colors today include orange, turquoise or teal, or even lime green. There are no limits when it comes to bright and bold.
These door colors are especially great in areas with less sunny weather. If you live in a high-rainfall area, a bright sunny color can give you a smile as you approach your home.


Classic Red
Did you know that there is an amazing history behind the color red on a front door? In some places, it meant that travelers were welcome. For others, like the historic town of Savannah, Georgia, a red door meant the house was owned free and clear with no mortgage. Red paint was more expensive, so if you didn't have a mortgage payment, you could afford it. Whatever it means to you, red is still an inviting color for a front door. It is classic, welcoming and vibrant enough to stand out.


Black or White
If you want something subtler, you can stick with basic black or clean white. Either is fine, especially if the rest of your house is painted in a bolder color like blue or red.
Black will give your front door more depth and can be a great choice for a solid white building, while a white door will stand out well against a darker-colored home. You can even go with an intermediate hue such as a shade of gray.


Rich Brown 
A brown door is most often solid wood. A stained wood door is a great statement, and you can make it any shade, from light to dark, to match your tastes.
Or, if you already have a painted door but want that rich brown look, select a brown that coordinates well with your house color. Browns can have a lot of undertones, so don't be afraid to try something fun.


What color should you paint your door if you're selling your home? Call me today.

 

5 Smart Home Upgrades Worth the Money

Smart technology is more popular today than ever before. Smart assistants, such as Google Home and Amazon Echo, give information on demand, even faster than a regular internet search can. Smart speakers aren't the only way to incorporate smart technology into your home. The "internet of things" is expanding, and there are a few smart upgrades that are affordable and great choices to add value to your home.

1. Smart thermostat. We're not sure there is a relationship on the planet in which a couple completely agrees on what temperature to keep the home. A smart thermostat can create, and even anticipate, settings for maximum comfort for all. You can even connect it to your smart speaker and use voice commands to turn the thermostat up or down. A smart thermostat will save money by more efficiently heating and cooling your space.  
2. Smart smoke detector. Not all smart tech is about saving money — some also saves lives. Smoke detectors aren't just a good idea — they're required. But a smart smoke detector can take your safety to the next level. This type of device can send alerts to your smart phone if an incident occurs while you're away from home so that you can get the help you need faster. 
3. Smart sprinkler system. Curb appeal is important, and so is the health of your lawn. You spend a lot of time making sure your lawn is watered. An installed sprinkler system is great, but it can cause major problems if it leaks. It can also waste water if it runs unnecessarily, such as when it's raining. A smart sprinkler controller customizes your irrigation system. You can conserve water and save money over time.  
4. Smart lights and lamps. A completely dark house is a scary place, especially if you have your hands full. It isn't just the monsters lurking in the shadows, it's tripping hazards or other obstacles that could challenge you. With smart lights paired with your Google Home or Amazon Echo, you can turn the lights on with just the sound of your voice. The plug adapters are inexpensive and easy to use. 
5. Smart front doors. Your car may already have keyless entry, and that tech is also available for your home. A smart door lock means that you don't have to fumble for your keys when you get home. And some systems even allow you to grant access to visitors or family members remotely when you're away from home. Imagine having pet sitters text you when they arrive and being able to unlock the door for them from your phone. 

5 Important Things to Know When Buying Inside an HOA

A homeowners association is an agreement among the homeowners in a community or development that pools their money to take care of common grounds, which can range from pools and spas to just the grass. Homeowners associations can vary in size and involvement depending on the agreed-upon terms.


Here are a few things that are important to understand about HOAs before buying into one.

1. What Is the Cost?

With a typical HOA, there is a cost. The amount can vary greatly depending on the services and amenities provided to the community the HOA represents. It is important to understand what this cost is because it is typically monthly and ongoing for as long as you live in that home, and needs to be considered in your budget along with your monthly mortgage payment. There can also be a one-time buy-in fee that you pay when you close on the house. It is basically equivalent to a gym membership joining fee.

2. What Is Covered?

If you are going to pay a monthly fee, it is important to understand what is covered by that fee so you can evaluate the value of the HOA. At the bare minimum, upkeep of the common areas is covered, and services can also include snow removal, landscaping and grass-cutting for your property. This is one of the attractive things about HOAs — you typically do not have too much outside maintenance on your property. There should be a handbook or guide explaining what is covered by the HOA.

3. What Are the Rules?

As mentioned previously, there is typically a handbook developed by the HOA that covers all rules and regulations for the community. This can dictate facilities hours or who can use the facilities. It also can tell you the rules regarding having guests, or specific times to place trash out. The important part of understanding the rules is making sure that they do not interfere with gatherings you are looking to have or hobbies you may do.

4. Are You Happy With the Way the House Looks?

There is a reason why the majority of houses in the community look the same and utilize the same color schemes — the HOA dictates those things. Make sure you like the color of the house's trim, or be sure to understand what other colors are allowed. All this information should be included in the handbook.

5. Can You Get Involved?

Many times, the HOA has some type of board that facilitates communication among homeowners and makes decisions based on requests or complaints from residents. If you are interested in getting on the board, it is something to ask about. You may want to get involved just by voting on any changes.

What's Over Your Head?

No roof lasts forever, and if it's time to replace yours, give a lot of thought to how best to do it. Notice the wear and tear on your neighbors' roofs over time to help figure out which materials are durable and look good on houses like yours. Observation is a great tool — and it's free!

That said, there are basic qualities of every material that you should consider when making your pick.

Asphalt shingles

• Most popular roofing material.
• Lightweight and easy to install, which reduces labor costs.
• Inexpensive; cost from $70 to $120 per 100 square feet.
• Lifespan is shorter than that of other materials, about 20 to 30 years, depending on maintenance and brand quality.
• Work with many styles of homes, especially suburban ones.

Slate

• Classic beauty and elegance.
• A heavy material that requires extra framing and must be installed by a professional.
• Expensive; costs about $600 per 100 square feet.
• Lasts for more than 50 years.
• Durable, fire-resistant and recyclable.
• Fake slate looks just like real slate but is made of polymer, clay, rubber or asphalt instead, so it's more lightweight and less costly (although it will not last as long).

Metal

• Often made of aluminum, stainless steel, zinc or copper (which fades to green).
• Installation is easy because metal is half the weight of asphalt; comes in panels or shingles.
• Expensive; costs anywhere from $100 to $800 per 100 square feet.
• Lasts for 40 to 70 years, and is resistant to extreme weather.
• Can be noisy when rain falls on it.
• Dents easily but unnoticeably, as the texture of the roof hides any dings.
• Reflects sunshine, which keeps your home cooler during summer.
• Recyclable, and can be used to collect rainwater.

Synthetic

• Made out of rubber, plastic and polymer to imitate natural materials at a lower price.
• Lightweight and strong, making installation easy.
• Costs $300 per 100 square feet.
• Somewhat durable and fire-resistant, but some may absorb water.
• Quality can differ greatly from supplier to supplier.

Of course, the style and geographic location of your house may affect your choice. Also, the quality of the contractor you employ may matter more than the type of material you choose. Getting the best person for the job ensures your roof will be installed correctly and that it will serve you for a long time. Venture out of your yard, do some research, and ask friends and neighbors about their roofs to get started today!

Empty Nest? 5 Changes Your Home Needs Now That It’s Kid-Free

The house you raised your family in has seen a lot — a lot of love and laughter and maybe a little turmoil. Now that your home is officially kid-free, it is in dire need of some enhancements so you can make a smooth transition from being a full-time parent to having a less hands-on relationship with your children.
Check out these five changes your home is begging for now that you have an empty nest.

First-Floor Guest Bedroom
Think about rearranging the layout of your home now that the kids are out of the house. You might already have plans to turn one of your kids’ bedrooms into a guest bedroom; however, if it’s on the second floor, consider using a room on the first floor. For now, you can use it for guests, but if you plan to stay in your home for the rest of your life, you may want your bedroom to be on the first floor when you get older.


Create Extra Space With Fewer Walls
If you have a few smaller rooms that were once kids’ bedrooms, consider knocking down a wall or two to create one larger space. It makes sense to have lots of smaller rooms if you have a house full of kids, but now that it’s just you or you and your spouse, you can keep one bedroom for guests and create a bigger room to serve a more meaningful purpose, such as a studio, office or home gym.


Kitchen Facelift 
With lots of people in the house, it can be tricky to do any kind of home upgrade or renovation. Now that you have an empty nest, consider making kitchen upgrades that you’ve been putting off. Does the tile need work? Do the cabinets need replacing or maybe just some paint? You could also update old appliances — now is the best time to do whatever needs to be done to bring your kitchen up to date.


Master Bath Enhancements 
With kids out of the house, you will have more time to yourself and hopefully to pamper yourself. Make some updates to the master bathroom by changing the counters and cabinets and/or adding ambient lighting with a dimmer. Add a bench in the shower and a heated towel rack. Replace towels with ones that are plush and soft. Do whatever is necessary to make your bathroom feel more like a spa. You deserve it!


Update Your Most-Used Furniture
Maybe you didn’t want to invest in high-end furniture while you were raising kids because you feared stains and smears on expensive items. However, now is the time to invest in a little luxury. You can transform your home into more of an adults’ house by swapping out some older pieces of furniture for something tasteful and refined.


Looking for even more ways to update your home? Give me a call today! I love sharing my expertise.

Should I Buy a Home That Needs Repairs?

If you’ve found your dream home − in the area you want, with a big kitchen, three bedrooms and more − is it worth it to buy if the home needs a little TLC? The answer differs depending on the type of repairs, the neighborhood and more. Keep reading to find out if putting an offer on a home that needs repairs is the right move for you.

Are the repairs just cosmetic?
Don’t get confused between a fixer-upper and a house that just needs some minor, mainly cosmetic, repairs. A fixer-upper usually has a very cheap purchase price because the new owners will have to put in so much elbow grease to get it to livable condition. However, cosmetic repairs are another ball game. These are small tasks like painting, changing the carpeting or installing new cabinetry. If the home you’re interested in only needs cosmetic repairs, it may be worth the money because you’ll get to customize the home a little bit, and the seller might be offering a discount because the house needs a little TLC.


Check the inspection report
Get an inspection report before you buy. Maybe the seller told you that all the house needs is a fresh coat of paint and a little landscaping; but the inspection report could alert you to bigger problems that the seller either doesn’t know about or hasn’t disclosed. If the inspection report mentions foundation issues or that a new HVAC system is needed, this is not the kind of project you want to get into if you’re not prepared.

Will you get good ROI after the repairs are complete?
What kind of neighborhood is the home in? If it’s in a decent neighborhood, close to schools and parks, or if the neighborhood is up and coming, it might be worth buying a home in the area because the value will increase over time. It’s worth it to take on some minor home repair projects for a house in a desirable neighborhood.


Do you have the time to devote to this project?
If you weren’t previously planning on purchasing a home that needs minor repairs, make sure you have the time and patience to put up with the items that need updating. If you have a busy job or kids with demanding schedules, moving into a home that isn’t move-in ready could be stressful. Also, be prepared for loud noises and a little debris if you hire workers or plan to do repairs yourself.


Are you getting a deal on the home?
One of the most important factors is the type of deal you’re getting on the home. If it’s not move-in ready, what’s the incentive to do the repairs and updates yourself? If the seller isn’t offering an allowance for you to do the repairs or isn’t selling slightly below market to incentivize buyers, what’s the point?


Look into a 203 (k) loan 
If you find a home that you’re serious about but that requires minor or major repairs, look into financing through HUD’s 203 (k) loan. This type of financing allows you to finance the purchase of the home and the necessary improvements without having to seek multiple loans. Visit HUD.gov to learn more.

 

Is This Your Situation: You Want to Save for a House?

Purchasing a home is a big financial responsibility, but the rewards of homeownership are many. Particularly for first-time homebuyers, coming up with the down payment needed to see your dream to fruition can often seem overwhelming. There are many strategies, however, that can help you save for your down payment.


It should also be noted that various loan programs exist that would allow you to drastically reduce the amount of money needed for a down payment. For example, VA loans often require 0% down, while FHA loans see down payment options ranging from 3-6%.
When you're ready to start saving for your down payment, consider these smart solutions:



#1: Cut Back

When you realize that cutting back on certain things can help you reach your goals, it will change your perspective. Think of it as an investment rather than a loss. Here are some areas where you can potentially cut back:

• Morning coffee and stops in the car for water, drinks and snacks ... carry your own
• Cable and expensive internet … use some of the cheaper options such as Netflix
• Eating out ... cook at home and use leftovers for quick meals and lunches

#2: Do it Yourself
You can save on a number of the services you pay for each month by doing it yourself. While there is a time and place for professional assistance, consider these alternatives:

• Personal grooming ... paint your own nails, give yourself a facial, use coupons for haircuts
• House maintenance ... mow your own yard, trim the trees, clean the interior, repair what you can
• Make presents for family and friends instead of buying, especially cards and gift wrap

#3: Let Your Goals Be Known
You'd be surprised how much support you will receive from your circle of friends and family. They may opt for a game night-in instead of an expensive concert or dinner. They will also be more understanding if you can't chip in for a trip or group present. What's more, when you make your goals known to your friends and family, you're more likely to stick to them!


#4: Take on Extra Work
This may sound obvious, but it's more than just overtime or a sales commission. Try to turn your hobbies and extra time into money. Look on community boards for services wanted such as tutoring, cleaning, dog walking, errand running and even elderly companionship and driving.


#5: Save on Purchases
Take the time to research costs and shop during sales. It may take a couple extra minutes each week while grocery shopping or clothes shopping, but the end results will be worth the effort. Become a bargain hunter and you'll quickly see the savings stack up.


Make Your Homeownership Dreams Come True
Making the conscious decision to save will be the best start to achieving your down payment goals. Create a monthly alert on your phone or computer that lets you know when you've reached the monthly amount. Once you've reached the desired down payment amount, talk to a real estate professional to start looking at homes that could be yours.


Meanwhile, give me a call so I can help put you on track with a savings program, and refer you to a good lender who can also work with you and give you some tips.

Looking for a Way to Test a Property's Condition?

Although putting a professional inspection contingency in the contract will help protect you from surprises, doing your own inspection before making an offer could save you considerable time and money.


How can you tell if a property is worth buying? Here's how to look at the big picture—for structural concerns, major repairs that are needed, appliances that have to be replaced.



Crawl the Walls
Start out by going to the right when you enter the house, and keep following the wall. You will check each wall that way. Do the same on every floor. Look for settlement cracks, separating joints, defective plaster or other signs of stress or damage. Check wallpapered areas for crinkling or gathering, which may mean walls are settling or shifting.


Look for Leaks
Loose or wrinkled wallpaper could indicate a water leak somewhere. Look for water stains on the ceiling and walls. You may have to look closely—bring a flashlight—in case they have been painted over or repaired.
Spend time in the bathrooms and in every area with pipes, checking for leaks and drips. Also, run the shower and basin, then flush the toilet to check water pressure. Look for cracked or loose tiles and missing grout or mildew stains on the walls or floor, which could indicate a behind-the-wall leak.


Plug Into the Electrical System
Check every electric socket or outlet. Use a plug-in night light and turn every switch on and off. Look for extension cords and multiple plugs in sockets, which could mean insufficient or poorly placed sockets. Also, check every appliance to be sure it works well.


Focus on Condition
Open and close every door and window. Look and listen for squeaking, sticking, or a tendency to close on their own. Check for evidence of shifting or settling around the front stoop, chimney and walks, and places where the driveway and the fence meet the house. Also, check the deck for sturdiness and look for rotted wood. Go into the garage and check the walls, floors and doors—inside and out.


Pay Attention to Pests
Look for termites and ants. Especially look along the foundation, around doors and entry points of wiring and pipes. Check the grading of the yard to be sure water runs away from the house.
You can and should insist on a written report detailing what the problems are with the house, how important each one is. You may have to consult a contractor to estimate repair costs on any problems found.


If everything looks good and you decide to purchase the house, be sure to require a home inspection by a professional inspector before settlement. You will want a professional who will get into the crawl space, climb onto the roof and poke around with a flashlight in the attic. Your professional should also carefully inspect the major systems—electrical, gas, plumbing and heating/air conditioning.


To make sure a home is in tip-top shape before making an offer, give me a call today for more information about how you can spot red flags.

 

Are You Ready for a New Home? A Guide for Move-Up Buyers

Are you feeling like you've outgrown your current home? Has your life changed over the years? This could be a sign that you're ready to move out of that starter home and into something that more closely aligns with your lifestyle.
Keep reading to learn the signs that you're ready to move up!
Your Current Home Has Increased in Value
It may be a good financial decision for you to move into a nicer home if your current home has significantly increased in value. Check with your Realtor about the current value of your home. If it's worth much more than you bought it for, now might be a good time to sell and put the money from the sale toward buying a bigger place.


You or Your Partner Received a Salary Boost
Have you or your partner experienced an increase in your yearly earnings? If so, you may want to crunch the numbers and see how much more house you can afford. If your earnings have remained stagnant, then buying a more expensive home is probably not a good financial move. However, your life may have changed since you bought your first home, and perhaps you can afford a house that delivers a little more luxury or one that's located in a better area.


The Neighborhood Is Changing
Maybe you loved the neighborhood you live in when you first moved there, but if you've owned your house for a while, chances are the neighborhood has gone through some changes. Maybe it gained in popularity and younger people have moved into the area, making the streets busier and louder on the weekends. Since smaller cities and suburbs are seeing an uptick in new residents, your area, like many others, could be becoming more transient and less community-oriented.


Your Lifestyle Has Changed
Has your lifestyle changed because you started a family or got a demanding job? You may have outgrown your starter home with the addition of new family members. Or, perhaps you need to live in a house that is closer to the office. Many people become move-up buyers because their lifestyle has significantly changed since they bought their first home.


Other things to consider: Before making your final decision, ask yourself these two questions to make sure you're ready to move up.


Can I afford two mortgages? Depending on the order of events, there is a chance that you could enup buying your new home before selling your old home. In this case, can you afford two mortgages? Or have you researched financing options, such as bridge loans and home equity loans?


Can I afford moving costs? When figuring out your budget, factor in moving costs, such as closing fees, Realtor commission and hiring movers.


Think you're ready to take the plunge and move up? Contact me today to start the process!

Is It Worth It to Improve Your Home or Move On?

Homeowners are faced with numerous decisions throughout the years when it comes to their homes and how to manage them. A home is one of the biggest investments you'll ever make, so decision-making shouldn't be taken lightly. A difficult decision homeowners face is whether to move to a different property or simply improve their current one. 
The answer is never black or white, but we've listed the variables that need to be weighed carefully. Your personal finances and the status of local markets are just two issues you will have to consider. Also, think about which improvements give you the most bang for your buck.


Before taking the leap either way, here are some factors to consider:


Thoughts on Selling     

• Current market conditions. Is your area flooded with homes for sale? What is the transaction time from listing to closing?  Is the market lopsided with more sellers than buyers?
• Local factors. Are there new jobs coming to your city or are companies moving away and jobs decreasing? Will there be an influx of new residents or is everyone trying to sell quickly? Will new jobs bring higher incomes or is downsizing a problem?
• Your home value. What is your home's worth? Can you extract from it what you paid or will you sell at a loss? What is the lowest offer you can accept? Will you be able to offer any help with the closing costs?
• Personal logistics. Can you afford to move to a new house while paying the mortgage and other costs on the first, or do you have to sell first and then move? How long can you continue to pay the mortgage, taxes and insurance on this property?

Insights into Renovation

• Current market conditions. Will increasing your home's size or features price you out of the area? Sometimes putting in high-end finishes can make your home worth more than what it will appraise for.
• Local factors: Are buyers looking for homes similar to an upgraded version of yours in that area? Don't create a forever home when buyers move to your area for a starter home. It will be hard to make a profit this way.
• Your home value. You can quickly put in too many renovations and create a home that is worth more than what the area dictates. Take that into consideration when planning your remodel.
• Personal logistics. If you ever plan to sell, these are things to consider. However, if you feel that you'll stay in your home for years to come, improving your property might be a wise move.

There's not a magic formula to determine the right steps for every homeowner, but using a local real estate professional can be a great start. They know the markets and can explain the best options for you.