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Understanding Home Equity Loans

Wednesday, July 19, 2023
by Tucker Robbins

When faced with the high cost of their child’s college tuition or home renovation, many homeowners use the equity in their property to finance it. How does that happen? There are two ways: a home equity line of credit and a home equity loan. Take a look at the differences between the two before signing on the dotted line: 

 

Home Equity Line of Credit (HELOC) 

  • HELOCs are a second mortgage on the home, but instead of a lump sum, the homeowner typically has a five-to-ten-year “draw” period where they have access to the amount of the credit. 
     

  • During the draw period, some lenders allow interest-only payments on the amount, while some require principle-plus-interest payments. Either way, pay more than the minimum so the principal can be paid off before the repayment period. 
     

  • Once the draw period is over, repayment of what credit has been used will begin.  Keep in mind that these payments will be higher than the earlier amounts you’ve been paying. 
     

  • This line of credit can be used for anything but using it for large purchases or luxury vacations may not be a good idea; start a savings fund for those! Once the draw period is over and the homeowner cannot afford the payments, they could lose your home to foreclosure.  
     

  • In some cases, a lender will close the line of credit early if the borrower’s circumstances change.  If that money is used to pay their child’s college tuition, they will no longer have access to it, creating financial strain. 

 

Home Equity Loan 

  • Basically speaking, a home equity loan is a second mortgage on your home, which will be used as collateral by the lender.  
     

  • The lender usually bases the loan amount on the difference between the homeowner's equity and the home's current market value. Nerdwallet can help determine how much equity there is in a home. 
     

  • Most lenders allow homeowners to borrow up to 80% of the home’s total value; it depends on what portion is actually “owned.” In other words, a home that has a mortgage with an outstanding balance will have less equity than a house that has no mortgage. 
     

  • Unlike HELOC, a home equity loan will be paid out in a lump sum and comes with a fixed interest rate.  

 

While shopping for the best interest rates for these kinds of loans, be mindful of scams!  Stay clear of offers that come in the mail, ads that guarantee qualification, or “lenders” that request fees up front.  Know what to look for when applying for any type of loan, especially those that use the home as collateral. 

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

Photo credit: www.prosper.com

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How to Make Your Outdoor Space More Inviting and Fun

Wednesday, June 28, 2023
by Tucker Robbins

Make your outdoor space more inviting and fun for family and friends using the list below with ways in which you can accomplish this: 

  1.  If you already have landscape lighting, why not purchase a few fun colored lights to use in them for different holidays.  This will defiantly make your outdoor space a lot more fun.
  2. If you are getting tired of mowing your grass then you may want to replace your grass with a garden.  You might want to add a garden of flowers or a garden of vegetables or even put in a koi pond.  Any of these ideas will help to keep you from spending your summer evenings mowing the grass all the time, therefore making your outdoor space more fun.
  3. If your patio furniture is old and outdated, now is the time to go out to purchase some that allows you to show your style more effectively.  Outdoor furniture always makes outdoor spaces more inviting and fun.
  4. Adding a new doorbell to the outside of your home may seem like a small thing, however if you find a nice one that lights up the front door area it can do wonders towards making your home seem more inviting at night. 
  5. If you don’t already have a swimming pool, summertime is a great time to add one.  Not much can make your outdoor space more fun than a swimming pool for all to enjoy. 
  6. If you do add a swimming pool why not go out and make it really fun and cool by adding an outdoor shower to the mix.  This type of thing is pretty rare unless your home is at the beach, therefore your outdoor shower may quickly become the talk of the neighborhood.  

There are so many ways in which to make your outdoor space more inviting and fun; these are just a few of them that you may want to try.  

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

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Maintaining Your Home's Exterior

Wednesday, June 14, 2023
by Tucker Robbins


We spend more time inside our homes than outside, and regular cleaning and maintenance of the outside of our homes is not something we think of as often. Taking care of the siding of our homes extends its lifespan and keeps our homes looking great! 
 

  • - Warm water and mild detergent are your first defense in keeping any siding material clean. Use a long-handled brush with soft bristles, and working in small sections, scrub from top to bottom to avoid streaks.
     
  • - Pressure washing is a great way to clean the outside but take care because you do not want to put a hole through vinyl or damage wood. Bob Vila offers a wonderful guide on the best use of a power washer for exteriors.
     
  • - Inspect your siding before you begin cleaning. Take care of any problems as soon as possible to prevent further damage and costly repairs. 
    - All siding: check for water or insect damage, foundational cracks 
    - Wood siding: look for peeling paint, cracked caulking boards, and trim 
    - Brick: crumbling bricks or mortar, and foundational cracks 
    - Vinyl: loose, warped, or cracked sections 
    - Stucco: cracks and holes  
  • - Painting the siding does not have to happen often, it simply depends on the material: 
    - Wood siding: every 3-7 years, or every four years if it is stained 
    - Aluminum siding: about five years 
    - Stucco: every 5-6 years 
    - Cement fiberboard siding: 10-20 years  
  • - Wood siding needs a little extra care for preventing insect and water damage. It should be treated with a sealer every two-five years, depending on where you live.
     
  • - Tougher grime, such as mildew or algae, may need more than soapy water. Hydrogen peroxide and white vinegar will remove algae and mildew, and both are better alternatives for landscaping and your lungs than chlorine bleach. Peroxide cleaners are available in most home stores. 

While the home’s exterior is a large job to tackle, once it is done it will be easier to maintain over time. Regular inspection is more important, as the elements and other factors are always present. Proper maintenance and cleaning will not only add more life to the exterior materials, but it will also maintain the value of your biggest investment! 

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

 

Photo credit: pressureperfectcleaning.com

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Fun Rainy Day Things to Do Inside Your Home

Wednesday, June 7, 2023
by Tucker Robbins

Don’t get bored being stuck inside; below is a list of a few rainy day things you can do inside your home.  If you have small children you know all too well how easily they can get bored when they are stuck inside due to bad weather.  Get them and read this list together to get started on some fun! 

 

  1. 1. One fun indoor activity you can do with your small children is to have an indoor scavenger hunt.  Write down some clues to where you have hidden items in your house and set your children out on an indoor hunt to find them!  This can be fun for you as well as you watch your kids trying their best to find what you have hidden. 
     

  1. 2. Another fun rainy day thing to-do inside your home  with your family is to go camping inside!  Get your tent out and set it up right in the middle of your family room.  You and your family can sleep in the tent together all night long!  If everyone doesn’t fit you can use sleeping bags to make it a full fledge family event.  A super fun way to make your indoor camping event even more real is to make smores in the microwave!   
     

  1. 3. Yet another fun rainy day thing to do inside is to gather all of your board games and get the entire family involved in playing them together!  If you don’t have any board games you can likely find some type of game for all to play online.   
     

  1. 4. If you don’t want to have to create something fun to do with your family, why not bake some cookies together!  It is always fun to get your little ones together in the kitchen to bake.  Have each child create their own cookie with the ingredients you have available, then let the rest of the family be judges to give the best cookie award! 

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These are a few fun rainy day things you can do inside your home that is sure to make everyone have an enjoyable time even if they can’t go outside!   

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

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Smart Gadget Ideas for the Home

Wednesday, May 31, 2023
by Tucker Robbins

Smart Gadgets are quite fun to look at and try out but have you ever considered purchasing a few for your home?  Why not take the plunge to make your home a more interesting place to be by purchasing a few or all of the gadgets mentioned below. 

 

  1. 1. Many of you may have already seen or perhaps even tried the smart vacuum.  If you haven’t tried it you need to do so.  Just imagine pushing a few buttons and sitting down to relax while your vacuum cleaner does all the work for you.  What a revolution!  Be prepared to dish out $700 to $900, but it will likely be quite worth it in the end.  

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  1. 2. Smart trash cans have perhaps not been as heard of as the vacuum cleaners but they are just as cool none the less.  If you are the type of person that cannot stand to touch the top of the trashcan due to the fact that it is loaded with germs, this may be just the thing for you!  Not only will you not have to touch the lid but some of these gadgets even tell you when the trash is full and needs to be taken out!  How do you like that for smart?! $150 to $200 will buy you this luxury item!  

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  1. 3. Washers and dryers have had intelligent features for years but are beginning to add more and more as each year passes.  Some of them now have phone apps that let you remotely control them.  Some will sense when you are home and instantly begin using their quiet mode so as not to disturb you.  These types of machines will run you $1400-$1800 each but are well worth the money if you have it to spare.  

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  1. 4. Even air purifiers have been added to the list of smart gadgets folks are buying these days.  These items puts your homes air through different filters, then analyzes the data and sends it to your phone to tell you what types of things are prevalent in your air such as pollen, dust, pet dander, etc.  These cost from $200 to $750.   

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You may have thought that your home couldn’t be this smart but it can if you have the money to make it happen.  These items are so amazing that if you don’t currently have the money to buy them, you may want to consider saving up for one at a time.   

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

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Small Ways to Save Money At Home

Wednesday, May 24, 2023
by Tucker Robbins

Just because your home doesn’t have any major issues such as a leaky basement or a floor that is about to cave in doesn’t mean you don’t have a lot of little ways you are losing cash each month.  Below are a few small tips to help you save money at home that may eventually add up big.   

 

  1. 1. If you have yet to change your lights over to energy efficient ones you should do that right away.   This is an easy way to save a little bit each month that doesn’t take long at all to accomplish.  LED lights are going to cost you a bit more than regular light bulbs but in the long run they will be a big help to your budget. 

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  1. 2. Big ticket items such as air conditioning systems can cost you and your family a lot each year if you don’t do your part to make sure they work to the best of their ability.  Make sure to change your air filters on a regular basis and clean all the vents as well.  This type of maintenance should be done before the heat of the summer begins so that all will work correctly when it is needed most.  

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  1. 3. Another small way to save money at home  is to make sure you eat what you put in your refrigerator.  Wasting food is a big money pit that affects many Americans today.   If you buy a lot of produce and other perishables you need to be sure to put them at eye level so that they don’t get lost in your fridge only to have to be thrown out later.  If you have a small family you might want to purchase smaller amounts of foods that don’t have a long shelf live to avoid wasting each week.  

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  1. 4. If you haven’t already done so, get rid of your landline phone.  Most everyone these days has a cell phone and the need for a landline phone has almost become obsolete.  Save that $40 per month and put it towards something of better use.  You may be surprised at just how quickly $40 each month can add up.  

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  1. 5. Before you decide to bring a furry family member into your home, realize that they are quite expensive.   If you are trying your best to save money perhaps buying a pet might need to go on the back burner for a while.

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These are just a few ways in which your pocketbook can get a bit of rest  on a regular basis.  Use the ideas you like and see what a difference they can make.   

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

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Extend Your Living Space - Outdoors!

Wednesday, May 3, 2023
by Tucker Robbins

It is time for favorite summer pastimes: grilling, dining al fresco, or relaxing in a hammock, and many homeowners realize they would better enjoy them if they had a patio or deck. Outdoor spaces can be an extension of our indoor living space, so if you are considering adding either a deck or patio, here are a few tips to get your ideas rolling: 

 

  • For outdoor spaces with level ground, constructing a patio from brick, pavers, stone or poured concrete is usually more cost-effective than building a deck. 

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  • Soften the hard surface and add privacy by adding landscaping. Plant a perimeter of shrubs or tall grasses or add plants of varying heights in containers–even trees!

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  • Because of the availability in many colors and styles, making a final decision on patio surfacing can be overwhelming.  Landscaping Network has done the homework for you, making it easier to choose your materials.

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  • Backyards with in-ground pools are better suited for a patio for ease of use and maintaining the pool. Another bonus is that there is less grass to mow!

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  • Create a path from the front approach of your home to your backyard courtyard if there is enough room on the side of your home. This will help keep a lot of extra traffic out of the house.

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  • Because they can be built on virtually any surface, including slopes and rocky ground, decks are the most popular outdoor space addition.

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  • Determine what size you will need as well as other aspects of the deck by how you want to use the space: grilling and/or dining, simple entertaining, or maybe a private space for a hot tub.

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  • If you have the know-how, by all means, DIY a new deck. This Old House offers a thorough guide to building a deck, from materials to designs.

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  • Two advantages to building a deck: increasing your home’s value, and cooler entertaining.

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  • Add screening and a roof for an all-weather space to protect you from the elements and insects.

  • If your local building codes require railings for the new addition, do it in style! Check out these deck railing ideas.

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Once your new outdoor “room” is complete, do not waste the time and expense it took to create it by not utilizing it! Add seating, shade, grill, or firepit, and enjoy summer evenings with family and friends or a good book. An investment in outdoor improvements can be an investment in your well-being! 

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins. 

 

Photo credit: greenadvisorinc.com

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How to Go Green This Spring

Wednesday, April 19, 2023
by Tucker Robbins

Have you ever given any thought on taking part in going green?  If so you have come to the right place.  Below are a few tips on how you and your family can go green this spring!   Why not add going green to your spring cleaning list!  

 

  •  One way that you and your family can go green this spring is to simply take your shoes off before you enter your house!  You read that right; you can go green by simply taking off your shoes. 40% of all indoor contaminants actually come from the bottom of our shoes so do your part to keep this from happening to you and your family by taking those shoes off!  
     

  • Learn what ingredients are considered to be green so that when you go to the store to purchase all of your new green cleaners you can be confident that you are actually doing some good for the environment.  Some companies that claim to be green actually have some ingredients that are not green once they are mixed together.   Just read up on what ingredients are green and what ingredients are not and are typically passed off as green and you should be heading in the right direction on what to buy and what not to buy.  
     

  • Don’t forget the outside of your home when you are going green.  Many grasses are able to grow and thrive without the help of any type of pesticides and /or fertilizers.  The best way to start going green with the outside of your home is to replace the grass you currently have with native grasses to your particular area.  One perk of this switch is that you may find that you have a lot less upkeep of your lawn once you do this!  Who wouldn’t enjoy having more time with their family and less time doing yard work on a weekly basis! 

     

These are just a few ways in which you can help to make your home a bit more green this spring.  Once you get started going green it is likely that you will find more and more ways in which to do so.  It can become addicting once you make the decision to go green in and around your home! 

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.   

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Creative and Budget-Friendly Organization Ideas

Wednesday, April 12, 2023
by Tucker Robbins


We have all seen the beautiful dream closets: they are filled with drawers, shoe shelves, a vanity, and many other bells and whistles, but all come with a hefty price tag. Organizational gadgets can cost quite a bit, but there are many ways to get organized without spending a lot-- just get creative! 

 

Closets 

  • - Extend room for lighter clothing items, such as blouses and shirts, by using tension rods placed at the top and bottom of your closet. Add shower curtain hooks to store purses and other odd-shaped items. 
     

  • - Family Handyman demonstrates how to use a plant-hanger chain to store multiple shirts and blouses. 
     

  • - Mount a short curtain rod on the back of the closet door to hang scarves, and store more by using clip-style curtain rings to hang hats and gloves to keep them handy. 
     

  • - This use of tension rods for shoe storage is a great storage hack! 

 

Bedrooms 

  • - Create under-the-bed storage by upcycling old dresser drawers by adding adhesive felt or swivel caster wheels to the bottoms. Or get empty suitcases out of the attic and put them to use by storing seasonal clothing under the bed. 
     

  • - Turn a bookshelf into a headboard and create space for odd items such as remotes, glasses, morning medicines, and, of course, books. 
     

  • - No more rummaging through a mish-mash of cosmetics in a bag! This DIY magnetic makeup board is a great way to keep makeup handy and easy to find. 
     

  • - In the kids' room, mount wire wall planters and place books, plush toys, or arts and crafts items within a little one's reach. 

 

In the Kitchen 

  • - Get the pots and pans out of the cabinets by hanging them! Hang them on a wall or try this DIY ladder pot rack! 
     

  • - Keep the infamous junk drawer tidy by using a clean egg carton or small muffin tin; both are perfect for keeping small items organized. 
     

  • - Inexpensive dollar store baskets can be filled with cans, spices, and baking items for pull-out storage in the pantry. The baskets keep them neat and easy to access. 
     

  • - Place large utensils in a cookie jar on the counter to keep them within reach while cooking. 
     

  • - A wall file holder mounted on the inside of a cabinet door is transformed into a container lid holder. 

 

Begin your organization plans by decluttering, then using what you can afford or DIY to make it happen. Putting your home in order can be pretty, practical, and inexpensive! 

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins. 

 

Photo credit: www.womansday.com

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Does Your Home Need an Energy Audit?

Wednesday, April 5, 2023
by Tucker Robbins

Energy audits are becoming more common among homeowners as a way to save money on energy costs as well as check their carbon footprint. According to the Environmental Protection Agency, an energy audit is a process to “assess how much energy a home consumes and evaluate measures to make the home more energy efficient." Is an energy audit something your home needs? This checklist will assist you in answering that question! 

 

  • Musty Odors:  When certain rooms, mainly bathrooms, have a musty smell or form mold quickly in between cleanings, there could be a hidden moisture problem that can cause more serious issues if it remains unchecked. 
     

  • Window Problems:  Can you feel cold or hot air seeping in from the outside when near a window? Is there condensation on the glass, no matter the season? These are obvious signs that your windows are interfering with the energy efficiency in your home. 
     

  • Insulation: Attic insulation requirements have changed over the years. When you are in the attic, can you see most of the joists in between the insulation? That is a sure sign there is not enough insulation to keep it heated and cooled efficiently. 
     

  • Comfort Level:  Are some rooms too cold, some too hot, or just the opposite? While everyone feels differently as a matter of personal preference, your home should not have major differences from room to room when it comes to temperature and comfort level. 
     

  • High Energy Bills:  The different components that use electricity in your home can add up if they are not running properly. If your HVAC is short-cycling, or you have outlets and/or electric cords that get too hot, or light bulbs burn out before they should, these are all problems that will add up on your power bill if not checked. 
     

  • There are two different levels of an energy audit for a house. Level one is a basic walk-through assessment, and level two begins with the basics in level one and includes an energy survey and analysis. 

  • - Homeowners can perform their own level one audit, and the U.S. Department of Energy offers a list of what you can check for without paying a professional. 
     

  • - This Old House offers a video that demonstrates a level two energy audit using different pieces of equipment and processes the pros use to assess your home’s energy use.  

 

The age of your home does not matter! Newer homes can be as energy inefficient as older homes! Once you have determined that your home could use some help to become a better consumer of energy, use the Residential Energy Services Network (RESNET®) Home Energy Rating member finder for a list of energy audit professionals in your area. Do your homework on each one in your area to find the right one for your needs and budget. 

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins. 

 

Photo credit: www.greenmountainenergy.com/

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Tucker Robbins
Berkshire Hathaway HomeServices
3838 Kennett Pike
Wilmington DE 19807
(302) 777-7744 (direct)
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