Eight Signs It’s Time To Move Up

The starter home. It was so cute and quaint and sweet when you bought it, right? But, that was before kids and dogs and overnight quests and holiday dinners that require mathematician-level logistics to finding everyone a seat in a dining room that bursts at six people.

Let’s face it: It’s probably time to move up. Lack of space is the No. 1 reason people start looking for a larger home. Families expand, lifestyles change, and the sheer accumulation of stuff can make a small home feel even tighter. “More than a third of all homebuyers last year were families with kids,” said Dave Ramsey. “And 37% of sellers age 36 and under cited cramped quarters as their reason for moving.”

But running out of room not the only reason to consider moving up.

You’ve got the equity

You may have had to scrimp and save for the down payment on your first home, but, if your home has appreciated, you may be in a completely different financial position this time around. If you’re the type who envisions paying off your home and being free and clear, moving up may not be on your mind. But, for the rest of us, having equity in our current home means greater buying power to buy something bigger or get into a neighborhood we covet.

You’re at each other’s throats

Feeling cramped and living in clutter and hating that you don’t have a space of your own or even a minute to yourself? That can create stress and leave you feeling anxious and overwhelmed. And, it goes against the general principle of homeownership since your home is supposed to be your sanctuary! Having some extra room to spread out and yard for the kids and dogs to play in can make a real difference in the way your family functions.

Ask yourself if “your quality of life is suffering,” said Unpakt. “This category can include many things: your ever-growing pack of dogs or cats who are driving you crazy. Your cascading piles of fabrics that you use for quilting, but just can’t keep organized in your current space. The lack of a guest room means that when family visits, you’re stuck on the couch. Whatever it might be, if your quality of life has taken a nosedive because your house is too small, well, the answer is pretty clear.”

The neighborhood is changing…and not for the better

One of the reasons you may want to start looking at a new house is because your neighborhood is starting to evolve. Maybe there are new restaurants and bars that have attracted a different crowd or plans for a huge mixed-use project that, while great for the economic potential in the area, could mean more traffic than you want in your quiet little town. Even something like a change in the flight patterns from the local airport can get you thinking about that next home.

Remodeling is price prohibitive

A good real estate agent should be able to give you an idea of what necessary (or wanted) renovations would cost to your existing home. It could be that the amount of work you would need to do on your home to get it where you want it – or get it into tip-top shape for a sale – is beyond what you want to spend. In that case, it might make better financial sense to make small improvements, put it up for sale, and put your money into a new home that better suits your needs.

You don’t want to over-improve for the neighborhood

The other important factor to consider when deciding whether to move or improve your home is how the redone home would sit in your neighborhood. You don’t want to run the risk of doing a bunch of expensive renovations only to have the home sit on the market because it’s overdone and considered overpriced.

“Weighing against renovation is the risk you’ll ‘over-improve’ your home compared with others on the block,” said Bankrate. “When you are in a neighborhood that has starter homes and smaller homes, adding a large addition or doing an extensive renovation may not yield the return one would expect.”

Everyone else has moved on

So, your kids were young and bicycles and basketball nets lined the street when you first fell in love with your home. At the time, it was everything you were looking for. But now, so many of those families have moved on, and the lively street you loved has turned rather sleepy. If you’re still holding on to the memories of what your neighborhood once was, maybe it’s time to find one that better meets your lifestyle needs today.

You’ve crunched the numbers

Presumably, a move-up home is going to be more expensive. Beyond the equity you can use to make the purchase doable, you have to consider the monthly expenses, too. “It’s not just the sticker price on the house; it’s the long-term costs associated with it,” said Realtor.com. “When you go up (in square footage), you get higher property taxes, higher utilities, and more maintenance.” And acquiring more rooms means shelling out for more furniture, too.

You can make sure you can afford a move-up home without becoming “house poor” by “using online affordability calculators to figure out how far you can stretch your dollar.

Written By Jaymi Naciri

Source: https://realtytimes.com/consumeradvice/buyersadvice/item/1017326-20180517-eight-signs-its-time-to-move-up?rtmpage=

 

May 17, 2018   No Comments

Summer Savers: 9 Things You Can Do Now To Protect Your Home Before The Heat Hits

Summer Savers: 9 Things You Can Do Now To Protect Your Home Before The Heat Hits mdsprinklers.com

Things are heating up and school is winding down. That mean’s summer is right around the corner. But it’s not all flip-flops and sunglasses and smiles. Summer is also hot and sweaty and often expensive when you’re trying not to be hot and sweaty, or you just want your home to run more efficiently. There are things you can do and changes you can make now to save money this summer.

Have your sprinkler system and outdoor faucets looked at

You could have sprinkler heads that are malfunctioning or not working at all, which could harm your grass and cost you money to replace it. Leaky outdoor faucets could also be costing you in increased water bills.

Do a leak check inside

Cold air escaping and hot air intruding – it’s the reality of many a home, and not only can it make you feel uncomfortable, it can make your air conditioner work overtime. “For a thorough and accurate measurement of air leakage in your home, hire a qualified technician to conduct an energy audit, particularly a blower door test,” said the U.S. Department of Energy. “A blower door test, which depressurizes a home, can reveal the location of many leaks.”

Do an appliance check

Have a mixer, blender, and knife sharpener plugged in on your kitchen countertop? How often do you really use any of these items? The more you unplug, the less energy you use.

Have your A/C unit checked and serviced

Not only do you not want your air conditioning to conk out in mid-summer when it’s blasting hot outside, but you also want to make sure you catch little issues before they become giant, expensive ones – and before you’re A/C guy books up. “There are two main reasons to schedule annual air conditioner maintenance with your local HVAC contractor: saving money and saving money (no that isn’t a typo),” said HomeAdvisor. “For starters, you greatly increase the chances that your A/C technician will catch small problems before they become big ones by schedules regular check-ups. Repairing a small refrigerant leak shouldn’t cost much more than the service call. Buying a new compressor when low refrigerant levels burn your current one out, however, can cost a thousand dollars or more. The other way an annual check-up saves you money is by ensuring that your A/C unit is working at optimal efficiency. When your A/C is running well it uses less energy to cool your house, and lower energy use means bigger savings for you on your monthly utility bills.”

Remember to change your filters regularly, too. According to Energy.gov, “The most important maintenance task that will ensure the efficiency of your air conditioner is to routinely replace or clean its filters. Replacing a dirty, clogged filter with a clean one can lower your air conditioner’s energy consumption by 5% to 15%.”

Use the toaster instead of the oven

The heat from the oven can raise the temp in your home, causing your air conditioner to turn on. Using smaller appliances – your slow cooker is another idea – can help keep the temperature lower. Even better, use your outdoor grill, instead!

Cover up

Windows that are exposed to afternoon sun can heat up the house quickly, undermining your A/C and making everyone in the house uncomfortable.

“Air conditioning is blissful during the summer, but running it nonstop during a heat wave will have you cursing when you get your utility bill,” said Consumer Reports. “Fortunately, clever use of blinds, curtains, and other window treatments can help keep your house cool and your bills in check. The Department of Energy says that smart management of window coverings can reduce heat gain by up to 77 percent.”

Cover up inside and out for the best protection. “Studies show that medium-colored draperies with white plastic backings can reduce heat gain by 33 percent, according to the DOE. Because of the horizontal slats, it’s difficult to control heat loss through interior window blinds, although they do offer some flexibility. Unlike shades, you can adjust the slats to control light and ventilation. When completely closed, highly reflective blinds can reduce heat gain by around 45 percent, says the DOE. They can also be adjusted to block and reflect direct sunlight onto a light-colored ceiling, which diffuses the light without much heat or glare.”

Outside, consider solar screens, or awnings. “Window awnings can reduce solar heat gain by up to 65 percent on south-facing windows and 77 percent on west-facing windows, according to the DOE.”

Turn up the temperature

That goes against the whole “keeping the house cool” thing, right? But, if you can stand it, a few ticks up on the thermostat can lower your costs. “According to Energy Star, almost half the energy used in your home goes toward heating and cooling. Even making small adjustments, such as turning up your air conditioning by only one degree, can make a huge difference,” said Huffington Post. “For each degree you reduce your air conditioning, it’s estimated you’ll save 3 percent on your utility bills. You can also save money by using a programmable thermostat. When used correctly, a programmable thermostat saves the average family $180 per year.”

Get a learning thermostat

Unlike old-school thermostats that you can program for different times and days, products like Nest actually learn from you, and your house, which can then save you money. “Why should you have to figure out your thermostat? The Nest Thermostat learns from you,” said Nest. “Just turn it up and down for the first few days. The Nest Thermostat will get to know the temperatures you like and when you like them. Then it programs itself and creates a schedule for you. The Nest Thermostat even learns from your home and figures out how it heats or cools, because no two homes are exactly the same.”

Add insulation

The upfront expense will will pay dividends later when your energy bills go down. “Adding insulation to prevent leaky ducts, walls, windows, and doors can improve your home’s energy draw by 20 to 30 percent,” said Real Simple.

Written By Jaimi Naciri

Source: https://realtytimes.com/consumeradvice/homeownersadvice/item/1017243-20180514-summer-savers-9-things-you-can-do-now-to-protect-your-home-before-the-heat-hits?rtmpage=

May 16, 2018   No Comments

5 Ways Tax Reform Has Impacted the 2018 Housing Market

5 Ways Tax Reform Has Impacted the 2018 Housing Market

Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream.

Now that the first quarter numbers are in, we can begin to decipher the actual that impact tax reform has had on the real estate market.

1. Has tax reform killed off home buyer demand? The answer is “NO.”

According to the Showing Time Index which “tracks the average number of buyer showings on active residential properties on a monthly basis” and is a “highly reliable leading indicator of current and future demand trends,” buyer demand has increased each month over the last three months and is HIGHER than it was for the same months last year. Buyer demand is not down. It is up.

2. Have the tax changes affected America’s belief in real estate as a long-term investment? The answer is “NO.”

Two weeks ago, Gallup released its annual survey which asks Americans which asset they believed to be the best long-term investment. The survey revealed:

“More Americans name real estate over several other vehicles for growing wealth as the best long-term investment for the fifth year in a row. Just over a third cite real estate for this, while roughly a quarter name stocks or mutual funds.” 

The survey also showed that the percentage of Americans who believe real estate is the best long-term investment was unchanged from a year ago.

3. Has the homeownership rate been negatively impacted by the tax changes? The answer is “NO.”

Not only did the homeownership rate not crash, it increased when compared to the first quarter of last year according to data released by the Census Bureau.

In her latest Z Report,Ivy Zelman explains that tax reform didn’t hurt the homeownership rate, but instead, enhanced it:

“We have been of the opinion that homeownership is most highly correlated with income and the net effect of tax reform would be a positive, rather than negative catalyst for the homeownership rate. While still in the early innings of tax changes, this has proven to be the case.”

4. Has the upper-end market been crushed by new State and Local Taxes (SALT) limitations? The answer is “NO.”

In the National Association of Realtors latest Existing Home Sales Report it was revealed that:

  • Sales between $500,000 and $750,000 were up 4.5% year-over-year
  • Sales between $750,000 and $1M were up 15.1% year-over-year
  • Sales over $1M were up 17.3% year-over-year

5. Will the reforms in the tax code cause home prices to tumble over the next twelve months? The answer is “NO.”

According to CoreLogic’s latest Home Price Insights Report, home prices will appreciate in each of the 50 states over the next twelve months. Appreciation is projected to be anywhere from 1.9% to 10.3% with the national average being 4.7%.

Bottom Line

The doomsday scenarios that some predicted based on tax reform fears seem to have already blown over based on the early housing industry numbers being reported.

Written By: KCM Crew

https://www.keepingcurrentmatters.com/2018/05/10/5-ways-tax-reform-has-impacted-the-2018-housing-market/

 

May 10, 2018   No Comments

How to Clean Your Windows and Keep Them Streak-Free

Have you ever sat in your favorite chair and looked out the window, only to see streaks and smears? Or looked out the kitchen window, only to see a community of spiders and bugs all over your screens? Windows can be a challenge to clean. But here are nine tips, trick and tools that will make your windows clean and clear.
9. Take it outside. When cleaning your exterior windows, you can use a broom wrapped with a rag to remove dust and cobwebs from the glass. Scrub the windows with the same solution of dish soap previously mentioned to lift the dirt off the windows. Dry with either a squeegee or a microfiber cloth.
Written By
Source: https://www.houzz.com/ideabooks/93853660/list/how-to-clean-your-windows-and-keep-them-streak-free

April 27, 2018   No Comments

8 Ways to Dress Up a Drab Hallway

The hallways that connect living spaces to sleeping spaces to the exterior of a home are just as important as bedrooms, living rooms and kitchens. Whether you’re working with a short hallway, a hallway with a sharp turn, a spacious hallway or one that’s a tight squeeze, you can make it feel just as special as the rest of your home. Make your hallways come alive with built-ins, lighting, colorful rugs and more.
8. Framed mirrors. For those who love the gallery look but don’t know what to put in their frames, a hall of mirrors can be the perfect solution. An installation like this can highlight a great collection of frames, or simply bring additional light and visual space into a small and dark hallway.
Written By Shane Inman
Source: https://www.houzz.com/ideabooks/17221695/list/8-ways-to-dress-up-a-drab-hallway

April 25, 2018   No Comments