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Friday, 30 July 2010
 Many homeowners who are trying to sell their home plan to make some improvements to help increase their odds of selling. Homeowners who plan to stay in their existing homes for a little longer are deciding to remodel their current space instead of purchasing a new home
Spending on remodeling is expected to rise this year but you can make home improvements and still stay on a budget. Below are a few tips to help keep down expenses and still get the updates you want.
- First thing first: create a budget and plan and stick with it. Do a some research on the types of improvements you want and get a feel for both labor and materials costs. Use those numbers to create a basic budget that you know you can comfortably afford and then design a simple plan for making that happen. It will help your contractor understand your vision better and should keep you on track to stay within your spending limits.
- Choose contractors wisely. Get at least three bids and check references. There are also online resources, like Angie’s List, that can be used to screen potential contractors. The low bid may not necessarily be the best bid – get your estimates in writing and line them up against your preliminary plan.
- Do the demo and prep work yourself. If you have the ability to do some basic demo, such as removing old appliances or fixtures, wallpaper, or popcorn ceilings, you can save money and focus your contractor on specialized skills like carpentry and electrical. Disposing of used materials and trash yourself will also help keep your costs down.
- Use recycled materials. It may make sense to use recycled lumber and other materials – even recycled hardware can add a unique touch and may be much less expensive (and greener) than new.
- Make selections quickly and stay with them. Time is money to your contractor and any delays you insert into the process by delaying or changing your selections can layer cost on without you even realizing it. Look for the types of materials and the color selections you prefer during your planning phase and don’t change your mind mid-stream.
Updating your home can be a simple, affordable process that can make your home more livable for you and more desirable for resale down the road. If you follow some basic strategies, you are sure to be pleased with the improvements and save money in the process.
/kh
Friday, 23 July 2010
 Recent reports show that unfortunately the housing market still is in stall mode. While most people assume that it is only home sellers who are finding this market challenging, homebuyers who are in the market to 'trade up' are also finding it difficult. These are the homebuyers who currently own a home and are considering buying one at a higher price.
These homeowners are not only facing the value of their homes drop significantly from a few years ago, but they also are in stiff competition from other properties that have been deeply discounted or are foreclosed or distressed properties. According to the National Association of Realtors, this group of potential trade-up buyers is increasing.
The challenge this group of buyers face is that due to this market, they are stuck in homes worth a lot less than what they paid. Although they are able to obtain great financing terms, they are finding that they have little or no equity.
All is not lost however, below are some tips for homebuyers hoping to trade up:
- Use an assumable mortgage to help sell your home. As assumable mortgage is something that mostny sellers may not be familar with. With an assumable mortgage, the outstanding mortgage and its terms can be transferred from owner to buyer. The benefit of doing this is that by assuming the seller's remaining mortgage, a buyer won't have to go through the rigorous credit check they would if they applied for a new mortgage. In addition, homebuyers can save on closing costs as well as potentially sell their home quicker because there is no need to wait for a loan approval.
- Set the price of the home below market value. Ok, this is obviously not the ideal option most homesellers would like to consider but you'll likely increase the chances of selling your home quickly if you put it on the market at a competitive price.
- This is still a buyers market, and eventhough current homeowners face the hurdle of selling their current property before they can move on, there are many factors on their side. Mortgage rates are at historical lows now: The average 30-year fixed-rate mortgage stood at 4.57% last week, according to Freddie Mac, the lowest it's been since 1971.
/kh
Friday, 16 July 2010
 Many residential property owners are not aware of the fact that they may be eligible for a reduction of their home insurance premium if the roof of their home is made up from particular roofing materials. Insuring your home can be expensive so it is important to make sure that you are not paying more than you should be for your current insurance premium.
If you live in a qualifying state, you may be eligible to receive significant premium discounts if you use certain impact-resistant products when constructing your roof.
If you think you may be eligible to receive a discount then you should check the list of roofing products that are eligible for a discount. Eligible products are listed from a number of different suppliers, and include asphalt, concrete tile, metal and some alternative roofing materials such as plastic and synthetic shingles and rubber panels. Metal roofs usually require a signed cosmetic damage exclusion and you will not be eligible for discounts for materials laid on top of existing roofs, other than some qualifying metal roofs.
You can fill out a claim form for reduction, including details of the materials used in your roof (including brand name, manufacturer name, color of material and manufacturing date), the name of the installation company and the date it was installed. The form must also be signed by the installer or a registered inspector. This form needs to be sent to your insurance company in order to apply for the appropriate discount.
Any discount counts so always check with your insurance agent on what discounts are available, many times they won't advertise these discounts so do your research to make sure you are getting all the discounts you are qualified for.
/kh
Friday, 09 July 2010
 If you are preparing your home for sale it is important to not overlook the appearance of the garage. If you are like many homeowners, your garage has become a storage unit but now is the time to take control of the clutter and get your garage staged as well as your home. Garage space is important to home buyers and you want to present that space as clean, organized and spacious enough to comfortably fit vehicles in.
Tips for getting your garage in top shape to show:
- Go through the storage boxes - chances are, you don't need have the stuff that has been left in garage storage boxes, especially if you also have attic or basement storage.Donate or recycle unused items and get rid of the boxes.
- Give the garage a good cleaning - sweep, dust and wash the windows.
- Make sure electronic openers are working properly and that the light boxes are clean and have fresh bulbs.
- For tools storage, hang pegboard on the walls and use hooks or racks to organize garden and automotive tools.
- Install shelving and get items off the floor. If you have room for cabinets, try to place any chemicals or flammable materials out of sight.
- Consider painting the garage floor with special epoxy paint for concrete. It's a relatively inexpensive way to brighten the garage and give it a bright, showroom feel.
If you have items that you simply can't do without, consider alternative storage, such as a rental, for the short term. Finally, make sure the outside of the garage doors are clean and freshly painted if necessary - they are as much a part of the first impression appearance of the house as your front door. Homebuyers today are looking for 2-3 car garage systems to keep their vehicles and lawn equipment secure.
/kh
Friday, 02 July 2010
 Summer is in full swing and although it may seem like your weekends are full of lawn and garden chores, working in your yard can still be a pleasure instead of a chore with the right tools. Here's what every home owner should have in the tool shed:
1. Lawnmower - unless your yard is designed with flagstone and flower beds, you will more than likely need a dependable lawn mower. Most of us are familiar with standard rotary mowers - either gas or electric. The blades spin horizontally and often have a bag system for collecting grass clippings. Rotary mowers can be push, propelled or riding style. Reel mowers are push powered only. Falling out of favor to technology, reel mowers are becoming more popular because they are better for the environment and are much cheaper than rotary mowers.
2. Weedeater - string trimmers are almost exclusively referred to by the famous brand name, but there are a number of styles and brands available, electric and gas-powered. They are a must have for flower beds, around trees and for other small tight areas that can't be mowed.
3. Spreader - these are generally push type, inexpensive buckets on wheels that spread fertilizer, seed or pest control materials quickly and evenly. Like lawnmowers, they also range in style and price depending on the size of your lawn and how much automation you choose.
4. Blower - also gas and electric, (backpack blowers are gas-powered) these tools blow air directionality to clean sidewalks, walkways, patios, carports and garages. Faster and less back-breaking than a broom, they are especially handy if your lot is heavily treed.
5. Sprayer - sprayers come in various gallon sizes and are used to spot treat weeds or pests with liquid chemicals, allowing you to target troubled areas.
As with all tools, it's a good idea to understand both the use and the care for your lawn equipment - including cleaning and storing them properly for the next use. Enjoy your time outside, fall will be here before you know it!
/kh
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