Real Estate Information Archive

Lowering your interest rate can save money. It will not save much if you’ve already been paying on your home for several years, however, especially if you refinance with a 30-year mortgage. Investopedia says that going for the new rate is a good idea if you can reduce your rate by 2%. 

When credit card debt is included in a debt consolidation refinance, homeowners risk losing their home for unsecured debt if they cannot keep up the payments. Credit counseling would be a better step to take first if you are considering debt consolidation to pay off credit cards. 

Refinancing to lower your monthly payment sounds great until you realize that a lower payment only comes with a longer pay-back term and paying more interest in the end. 

Let’s say you’re making more money and would like to shorten the term of your mortgage by having a higher monthly payment. Nerdwallet suggests that you ask yourself a few questions, then decide if you should refinance or just pay more on your current loan every month. 

Has your credit score gone up? If so, find out if you can get a better interest rate as a result. Again, be sure you’ll be saving money in the end before you sign the dotted line. 

You can turn your home’s equity into cash with a cash-out refinance, and if the money is needed for some home improvements or investing, it may be a better way to get the cash. The drawback comes in when the return on investment doesn’t work out, and the equity in the home is lost. 

If you paid less than a 20% down payment, you are required to have Mortgage Insurance with FHA and USDA loans, while Private Mortgage Insurance is required with other lenders. In some cases,, these can be removed, and your mortgage payment will reflect the change. 
 

An Adjustable Rate Mortgage (ARM) has a set interest rate for a certain amount of time, and after that time is up, the interest rate will vary. When the rates change, your payments will, too. Learn more about ARMs from Investopedia. 
 

Changes in escrow are almost unavoidable. What is escrow? The Consumer Financial Protection Bureau’s definition: “An escrow account...is set up by your mortgage lender to pay certain property-related expenses.”  When property taxes or insurance premiums increase, your current payments won’t reflect that change, and that results in an escrow shortage. The shorted amount will be added to your loan payment, plus the new amount for adjusted increases. To avoid paying extra every month for the shortage, pay the amount in full as soon as you receive your annual escrow statement. 
 

What if you don’t have an escrow account on your mortgage, and you don’t pay your property taxes?  Lenders don’t want to foreclose on a home because of delinquent property taxes. To protect their money, they can add the amount to your current loan payment or open an escrow account for your loan. 
 

Homeowners insurance is a requirement when you have a loan on the home. If yours lapses, or you don’t have enough insurance on the house, lenders have the right to purchase a policy, called “forced-place insurance.” They will send you the bill for the premium, which is probably more expensive than your current payment.  

- Plant native plants in your landscape! Because they are adapted to your climate, you won’t be watering them as much, and many are naturally pest resistant.  Native landscaping will also encourage wildlife to visit! 
 

- Speaking of plants, a “living wall” can cut down on cooling costs in Summer, while helping insulate the colder side of the house in Winter.  Even a wall of ivy can make a difference. Learn more about vertical gardens from FresHome. 
 

- Refurbishing or remodeling a room? Add color with low-VOC paints, or use natural wood stains and sealers. Check out local thrift stores or Habitat for Humanity ReStores for pre-owned light fixtures and many other items.  Reclaimed wood can be used for flooring or furniture projects, too.
 

- You don’t have to start biking to work in order to cut back on emissions or save money. Keep your vehicle serviced, and make sure you inflate your tires to the correct pressure. Making body modifications on your vehicle, such as removing that rarely used luggage rack, are other ways you can save gas. 
 

- In the kitchen, using a large toaster oven instead of your oven can save energy as well as keeping cooler in the Summer months. Slow cookers and pressure cookers are other appliances that conserve.  Other energy-saving cooking tips can be found at energy.gov.
 

- According to the WaterHeaterHub website, you can save as much as 25% on the energy used to keep your water hot by installing a timer.  If your conventional water heater is past its prime, switching over to a tankless or solar water heater may be your best option. 

- Smart thermostats are the perfect way to get your feet wet for advanced technology in your home.  They control your heat and air more efficiently by using presence sensors, and can save 10-15% on your power bill. Nest has two versions available, and prices vary $179-$250. Check with your power company to see if they offer a rebate on your new smart thermostat purchase. 
 

- Keyless entry isn’t just for your car anymore.  Smart locks are available for your entryways with mobile and desktop apps, so you can control them, and using fingerprint and voice recognition for opening doors.  Prices vary greatly, and the choices are numerous. PCMag has made a list of the best smart locks of 2017 that can help you comparison shop. 
 

- Home security systems have been around for eons, and the older brands have someone monitoring your system for you, and you pay a subscription fee.  Today there are DIY security kits that will connect to your home smart system, and will alert your mobile phone app if there is a breach, but it’s your responsibility to contact authorities.  
 

- Sometimes a simple security camera can give you peace of mind, and cameras are now available with motion and heat sensors so that they only turn on when you have chosen those sensor settings.  These cameras have WIFI connectability, and you can use your PC or laptop to check the daily camera video. 
 

- If you don’t care for a whole-house lighting control system, there are smart light bulbs controllable via Bluetooth, but that means they cannot be controlled from outside the home, or if you’re out of range.  These bulbs can cost $50, but will last for twenty years. 
 

- Home voice-activated assistants are becoming more popular, as well as less expensive. Apple’s Siri, Google Home, and Amazon’s Echo all have different features, but perform the same way by with voice activation. Get advice from friends and the internet before you decide which assistant is right for you and your family. 
 

- Water leak and mold sensors are a very important gadget to add to your smart system.  They sense water leaks, and humidity and temperature changes in your home and can save you a bundle on water or mold damage repair. 
 

- No more checking smoke alarm batteries every six months--smart smoke alarms are hardwired, have built in carbon monoxide detectors, and can be controlled from your mobile phone.  Some detectors even have sensibility settings, so they know the difference in a lot of smoke and your bacon getting a bit too done. 
 

- Turn practically anything into a smart object with a smart plug. Once it’s plugged in to the object and connected to WIFI, you can control that object with your phone, or a home assistant.  
 

- Cabinets are on prominent display in your kitchen, and should look great.  Clean them up and give them a coat of primer and paint.  White, as well as neutrals like grey or taupe, gives a clean look and brightens up the space, and all work well with pops of color around the kitchen. Darker colors work best in large kitchens, and bright colors can be the star against neutral wall colors and decor. Click here for more cabinet painting tips from HGTV. 

- Refurbish with new cabinet doors.  This can be a little more expensive, but not as costly as replacing all of the cabinetry. You can even ditch the doors and use open shelving for a modern, clean feel. 

- Change out the hardware on drawers and cabinets.  Have an idea of what you want before you go to a home store to purchase the pieces, because there are so many choices available.  Classic styles are best if you plan on putting your home on the market. 

- Not only would it protect walls from liquids and grease, but adding a tile backsplash gives a whole new look to your kitchen. Thanks to advances made in peel-and-stick technology, double adhesive mats are strong enough for tile, and you can do this yourself with very little tile installation knowledge. This video from Ask This Old House shows step-by-step how to use this improved material and save time and money while updating your kitchen. 

- Give your sink a makeover simply by replacing the faucet and the handles. 

- Countertops dated and unattractive? Replacing them doesn’t have to be a big expense; some laminates look like the real thing and cost much less.  Styles include look-alike marble and faux granite.   

- Add a dash of style to cabinets with glass doors by papering the inside of the cabinet. Con-Tact© paper or any self-adhesive shelf liner is perfect for this small project.  Amazon carries many designs to choose from.  

- Installing a new light fixture can make a big difference in your kitchen, and doesn’t have to break the bank.  Look in thrift stores, consignment shops, or yard sales, and give an old fixture a facelift with some spray paint! If you’re unsure about installation, call an electrician or handy person to change the old to the new. 

- Use mirrors to fool the eye, because they reflect light and images. Hang one larger mirror on the main wall, several small ones, (gallery style), or even an oversized mirror leaned against the wall.   

- Painting walls a light color automatically opens up the space to the eye, because it reflects light.  Going all one color is a great way to make the room appear larger, too. 

- Get rid of clutter.  The more you have sitting around--mail, books, work, kids’ school things--the fuller your space looks.  Baskets, files or paper organizing gadgets, decorative storage containers, or furniture pieces that double as storage are the best way to hide necessary things.  Get rid of, (in other words, throw away or recycle), junk mail and unnecessary paper as soon as you look at it. 

- Draw an imaginary diagonal line across your room and place your furniture at an angle.  You even get a bonus storage area behind anything that covers a corner! 

- Pieces that are the same color as the walls blend in, making the room appear larger. 

- Either skip window coverings, or use sheer drapery or curtains and blinds that are the same color as your walls.  If you have to use drapes, hang them either at ceiling height, or just inside the window so the framework is visible. 

- If you want bookshelves, consider a wall-to-wall, floor-to-ceiling unit.  Draw the eyes horizontally and vertically. 

- Speaking of bookshelves, the less you have on these open spaces, the roomier it looks.  Cramming every collection, book, or “trinket” just fills up the space in a similar way that clutter does. If you must display sentimental pieces, display a few at the time.  Switching them out on occasion will also give new appreciation for them. 

- Choose sofas and chairs with exposed legs to allow to light to pass through underneath them.  The more light in your room, the better. 

- On that note, light is your friend.  If you can’t get more natural light into the space, use a few lamps instead of an overhead light, as it draws the eye to look around the room. 

- Keep patterns small.  Use a punch or two of larger patterns on pillows or throws, but not too many--remember--less is more. 

- If you need an area rug, don’t settle for a small rug under the coffee table.  Purchase a rug that extends out from the furniture, as it will draw the eye out. 

- Create a focal point with framed pieces on one wall, especially behind a sofa, and extend the arrangement to the ceiling, and it will make the space appear taller.  It will also add pop and take away from the room’s size.  

- Drop-leaf tables or dining tables with the extra leaf removed work best in small areas, and if you need more tabletop space for guests or for workspace, simply add the leaf. 

- Paint--doing this before having to work around furniture and boxes makes the job go faster. 

- Clean everything, including carpets if you plan on keeping them. 

- Add storage to closets or utility rooms. 

- If you’re planning on upgrading the floors, do it before you get everything in the house. 

- Check the attic to make sure it’s adequately insulated.   

- Change the locks!  Every door should get a new lock, including the garage door. 

- Clean the ductwork and vents of the heating and cooling system.  If you’d like a deep clean, call a pro who specializes in cleaning HVAC ductwork. 

- If there’s a fireplace, have it inspected to be sure it’s safe and that the chimney is clean. 

- Find the circuit breaker box, and familiarize yourself with the switches.  If you can’t read the labels, turn each switch off and on to see what areas they control, and label them.  This is also a good time to locate your water main shut-off, so you’ll know where that is. 

- Making major changes too soon isn’t a good idea, unless necessary.  Live in your new home for a while and get a feel for what you love and what you don’t love. Waiting to remodel will allow your finances recover from the down payment and closing costs, as well. 

- You need to know everything that your homeowner’s insurance will cover, and what it won’t.  Make an appointment with your insurance agent to go over your information with them. 

- Taking a large tree down isn’t a good DIY project; this should be left to a professional, so call an arborist or neighborhood committee member to find out what you need to do if the tree is diseased or is a safety hazard. 

- Drilling or nailing into the walls of your new home is better done with a stud finder and make sure there isn’t any old wiring lurking behind the sheetrock.  There should be a setting on the stud finder for electric wires. 

- If your home is brand new, maintaining it is key.  But if you live in an older home, don’t neglect a monthly walk-around and make sure everything is okay.  You don’t want a small fix to turn into a major repair. 

- Saving money shouldn’t stop once you’ve bought your home!  Do your best to cut corners where you can, and continue the saving habits you got into while stocking away that down payment.   

- Throwing away receipts, new appliance user guides and paper work is a mistake.  Keep everything together in a folder labeled “Home Receipts,” so you can find them when you need them. 

- Don’t be a stranger!  Meet your neighbors before you move in; once you’re there permanently, it will be easier to invite them over for a casual get-together. 

Before you buy any used item, inspect it as well as you can for broken/missing parts or loose hardware.  With the exception that you’re certain you can repair it yourself; it might be better left for someone else with experience. 
 

Laminated pieces that are in bad condition will never repair well.  Not only that, but laminate furniture is usually not made of solid wood underneath and won’t have a lot of life left in them unless they’re in perfect condition.   
 

Cleaning is probably the first thing you’ll need to do. The Creek Line Home blog has some great solutions for cleaning thoroughly, as well as removing odors.  
 

Does your piece need a little work?  Unless you love the look of distressed furniture, you will want to repair cracks, rings and replace missing wood.   
 

Cushioned dining chairs are easily made over by removing the seat and covering the cushion with new fabric. (If the foam is very worn, you may need to replace that.) Pull it tightly and attach with a staple gun.  Painting the chair is easier without the cushion, but if you’re keeping the original finish, just re-attach the seat. 
 

Decoupage is another way to bring an old wooden piece back to life.  Choose practically any kind of paper, and using a decoupage medium, cover the whole thing, or, like Miss Mustard Seed, just highlight certain parts, while leaving the rest painted. 
 

Don’t pass up a good lamp! Many can be painted and outfitted with a new shade and serve you for years.  If the electrical parts are fried, lamp kits are available in-home stores and online. 

Spray paint is perfect for hard-to paint items such as candlesticks and decorative items, metal furniture pieces, and wicker furniture.   
 

Chalk paint has become a popular choice for DIY furniture makeover enthusiasts, but there is a bit of prep work in spite of it being an “easy” way to paint. 
 

Outdated art can even be made new again!  These ideas are amazing, and you’ll have what looks like commissioned pieces for just a few dollars and a little work. 

Aglaonema, or Chinese Evergreen, has many hybrids, and come with splashes of silver and red.  Not only will you have a plant that doesn’t need a lot of watering, but you’ll have a plant that brightens without having to buy a bouquet of fresh flowers every week! 
 

Using contrast in your rooms can apply to plants as well.  Calathea is a plant with variegated leaves, and some types have red stems and undersides of its leaves.  Placed in a corner with light-colored walls will make this low-light lover take the stage! 
 

What sounds tougher than cast iron plant (Aspidistra)? These long-leafed plants thrive in shady spots, can handle poor soil, and if you forget to water them, they will survive! 
 

Corn plant or dragon tree, (Dracaena fragrans) is a great plant if you’re looking for height.  It might need pruning once it starts getting too tall but is great for medium light.  Children would love to tell their friends they have a dragon tree in their house! 
 

Turn your room into a tropical oasis with parlor palms (neanthe bella)!  The best thing about this palm is that it doesn’t grow very tall and can do well in virtually any amount of light. 
 

Peace lily (Spathiphyllum) is a common houseplant, and rightly so.  While enjoying medium-low light, they do need water at least once per week to keep their beautiful dark green leaves and white blossoms. 
 

There are so many types of philodendron that you can find one for any houseplant need you have.  They prefer medium-low light, but in perfect conditions, they can grow tall. You get a bonus with philodendron, as they are proven air-cleaners! 
 

If you have a dark corner but no space for placing a container on the floor or furniture, pothos is the plant for you. The trailing vine is perfect to hang in a dark corner, and there are several hybrids to choose from. 
 

Does your grandmother have a pot of Swedish ivy that she’s been caring for as long as you can remember?  Plectranthus verticillatus grows very well in low light and be sure it has plenty of room to spread its trailing vines.  
 

When there’s little light and almost no room for a plant in your home, a terrarium filled with mosses, small-growing ferns, Pilea glauca “Aquamarine,” and sweet flag (Acorus) are just a few of the plants that will grow well tucked inside an enclosed case.  Learn more about this age-old type of gardening. 

- Call a pro to inspect and clean your chimney before using it, especially if this is your first Winter in the house. 
 

- Check the damper to be sure it opens and closes properly, and make sure the doors are secure, as well as being certain the glass isn’t loose and has no cracks.
 

- Examine a woodstove’s chimney pipe for any loose sections and clean any accumulated soot or ashes.  The door should open easily, close very tight, and the handle should lock into place once the door is shut. 
 

- When purchasing a mat or rug to place in front of the hearth, be certain it’s certified fireproof.

-Wood shouldn’t be brought inside until it’s ready for use.  Find out why you should keep it outside and other great tips about storing firewood here. 

- Gas fireplaces require a little less maintenance, but it’s important to be familiar with the operation.  If you can’t find an owner’s manual for your type of fireplace, see if online editions are available, or call the company to have one sent to you. 
 

- If you see dust and cobwebs, turn off the gas off, and vacuum using the hose attachment. 

-Ceramic logs or lava rocks inside a gas fireplace may need sprucing up as well. How to Clean Stuff.net guides us through this process in a few simple steps.
 

- Soot can collect on the glass doors, and it’s best to keep them clean.  When the doors are cool, spray them with window cleaner, (have newspaper or old towels under them to catch dripping grime), and use a cleaning brush or crumpled newspaper to remove as much of the soot as possible.  Follow up with a soft cloth dampened with clean warm water to remove any film left behind.