Facebook
Twitter
Pinterest
Copy Link
Childproofing: Protect Your Family and Your Home from Potential Hazards
When you think of your home, it likely conjures up feelings of safety, shelter, and comfort. However, accidental injuries in the home are one of the leading causes of harm to children 14 and younger. By taking certain precautions, many of these accidents can be prevented.While supervision is the best way to keep your children safe at home, you can’t watch them every second. Childproofing, to whatever degree you are comfortable, will go a long way toward keeping your littlest loved ones safe and healthy at home.
Here are some tips to get you started.
Many accidents happen with or around water.
If you have children at home, it’s advisable to adjust your water heater to no higher than 120 degrees to prevent scalding. Furthermore, you should never leave a small child unattended in a bath tub, even for a few seconds. And be sure to safely secure doors that lead to swimming pools and hot tubs, including pet doors. When cooking or boiling water, turn pot handles in, or better yet use the back burners, to prevent little hands from pulling them off the stove.
Household chemicals can be very harmful to children.
It’s important not to keep poisonous materials under the sink, even if you have a cabinet guard in place. Keep dangerous chemicals up high and in a room that isn’t accessible to your little ones. Seemingly innocuous medicines can also be dangerous. Make sure your medicine cabinet is out of sight, mind, and reach.
Use safety latches and gates.
It’s advisable that you use safety latches on drawers, cabinets, toilets, and windows, as well as place covers on all electrical outlets. Gate off stairways and entrances to rooms, such as garages, that contain dangerous or fragile objects.
Secure furniture and other objects.
Heavy furniture, electronics, and lamps must be secured to prevent a child from pulling them over. Bookshelves and entertainment centers often come with devices that attach them to walls so that a climbing child won’t topple the furniture. The end-caps on door stoppers can be a choking hazard, so it’s advisable to remove them. Place plastic bumpers on sharp corners or edges of coffee tables, entertainment centers, and other furniture to prevent cuts and bruises.
Install a carbon monoxide detector.
The U.S. Consumer Product Safety Commission (CPSC) recommends that consumers purchase and install carbon monoxide detectors in addition to smoke alarms. Be sure to test both devices regularly and replace batteries as needed. The American Red Cross advises families to learn first aid and CPR, and to devise an emergency evacuation plan for fires and earthquakes.
Emergency contact info.
Last, but not least, in case an emergency does happen, always keep numbers for your child’s doctor, your work and cell, and other emergency contact info in an easily found place, preferably near the phone.
Accidents can and will happen, but by following a few small steps you can have peace of mind knowing that you’ve done everything you can to protect your family from harm in your home.
For more information on Windermere Evergreen please contact us here.
Investing in Rental Property: The Risks, Rewards, and Benefits of Owning Rental Property
One area of the real estate market that is thriving right now is rental property.All indications suggest that the rental market will continue to improve because of low vacancy rates and rising rents. In fact, the demand for rentals is predicted to far exceed supply through 2016, with 4.5 million new renters expected to enter the market in the next five years.
What to consider before buying a rental
Being a landlord has its challenges. The recession took a toll on rental prices for a few years and any future economic downturns could do the same. Once the job market returns to normal, there’s a strong possibility that more people will choose to move from rentals into homes of their own. And the demand for rental properties could become oversaturated at some point, resulting in an investment bubble of its own.
What’s more, while the income from a rental property can be significant, it can take at least five years before you’re making much more than what you need just to cover the mortgage and expenses. In other words, the return on your investment doesn’t happen overnight.
However, in the long run, if you select the right property, it could turn out to be one of your best investment decisions ever—especially since rental real estate provides more tax benefits than almost any other investment.
Tax deductions for the taking
One of the greatest things about owning rental properties is the fact that you’re able to deduct so many of the associated expenses, including a sizeable portion of your monthly mortgage payment.
The commissions and fees paid to obtain your mortgage are not deductable, but the mortgage interest you pay each month is, including any money you pay into an escrow account to cover taxes and insurance. Whatever your mortgage company reports as interest on your 1098 form at the end of each year can likely be deducted.
For example, you may be eligible to deduct credit card interest for goods and services used in a rental activity, repairs made to the building, travel related to your rental (local or long distance), expenses related to home office or workshop devoted to your rental, the wages of anyone you hire to work on the building, damages to your rental property, associated insurance premiums, and fees you pay for legal and professional services. However, as is the case with any transaction of this type, be sure to consult your attorney or accountant for detailed tax information.
What to look for
As with any real estate investment, the location of the property and its overall condition are both key. But with rental properties, there are some other, unique factors you’ll also want to consider.
Utilities
Look for a building with separate utilities (water, electric, and gas, etc.) for each rental unit. This will make it far easier to legally charge for the fair use of what can be a very costly monthly expense.
Competition
If your property is one of the few rentals in the neighborhood, there will be less competition for interested renters.
Transportation
Rentals that are near popular public transportation options and/or major freeways (without being so close that noise is an issue) are usually easier to rent—and demand more money.
Landscaping
Properties with small yards and fewer plantings are far easier and less expensive to manage.
Off-street parking
Not only is off-street parking a desirable feature (people with nice cars usually don’t like to park on the street), it’s also a requirement for rental properties in some communities.
How to start your search
Unlike homes, rental properties do not typically have a visible ‘for-sale’ sign standing out front (as landlords don’t want to irritate, bring attention to their current renters, or turn off any prospective renters). Therefore, if you are interested in a rental property, your best option is to schedule an appointment with your real estate agent/broker to discuss your investment goals and identify what opportunities currently exist in the market place.
Why So Many Americans Are Either Upsizing or Downsizing
According to two recent surveys that took industry watchers by surprise, many family homeowners are putting frugality aside and upsizing to new houses that average as large as 2,480 square feet (an increase of as much as 13 percent from the year before), and sometimes exceed 3,500 square feet in size.Meanwhile, millions of baby boomer homeowners are rushing to downsize—with some 40 percent of Americans between the ages of 50 and 64 saying they’re planning to make a move within the next five years.It’s a tale of two very different segments of the population making dramatic shifts in their living accommodations to find the housing solutions that best suit their needs: one upsizing while the other downsizes.
With so many baby boomers now nearing retirement age (8,000 Americans turn 65 every day), it should come as no surprise that the number of prospective “downsizers” exceed the number of “upsizers” by three to one. With their children gone, these aging homeowners are interested in reducing the amount of house they need to care for, and are eager to bulk up their retirement savings with any home-sale profits.
As for why many families are choosing to upsize so substantially after years of downsizing or staying put, experts point to the extremely low interest rates and discounted home prices available today, and theorize that many families now feel confident enough about the economy to move out of homes they outgrew years ago.
If you’re considering upsizing or downsizing, here are some facts to consider:
How such a move can impact your life
The most common benefits of downsizing:
- Lower mortgage payments
- Lower tax bills
- Lower utility bills
- Less maintenance (and lower maintenance expenses)
- More time/money for travel, hobbies, etc.
- More money to put toward retirement, debts, etc. (the profits from selling your current home)
The most common benefits of upsizing
- More living space
- More storage space
- More yard/garden space
- More room for entertaining/hosting friends and family
Negative impacts:
- Upsizing will likely increase your living expenses, so it’s important to factor into any financial forecasts
- Downsizing will require that you make some hard choices about what belongings will need to be stored or sold
Other impacts to consider:
- The loss of good neighbors
- Lifestyle changes (walking, neighborhood shopping, etc.)
- The effect on your work commute
- Public transit options
Buy first, or sell first?
Homeowners considering this transition almost always have the same initial question: “Should I buy the new home now, or wait and sell my current place first?” The answer is dependent on your personal circumstances. However, experts generally recommend selling first.
Selling your current home before buying a new one could mean you have to move to temporary quarters for some period of time—or rush to buy a new home. That could prove stressful and upsetting. However, if you instead buy first, you could be stuck with two mortgages, plus double property tax and insurance payments, which could quickly add up to lasting financial troubles.
If you need to sell in order to qualify for a loan, there’s no choice: You’ll have to sell first.
Another option:
You could make the purchase of the new house contingent on selling your current home. However, this approach can put you in a weak bargaining position with the seller (if you can even find a seller willing to seriously consider a contingency offer). Plus, you may be forced to accept a low-ball offer for your current house in order to sell it in time to meet the contingency agreement timing.
The truth is, most home sales tend to take longer than the owners imagine, so it’s almost always best to finalize the sale, and do whatever is necessary to reap the biggest profit, before embarking on the purchase of your new home.
When to make the transition
Ideally, when you’re selling your home, you want to wait until the demand from potential buyers is high (to maximize your selling price). But in this case, because you’re also buying, you’ll also want to take advantage of any discounted interest rates and reduced home prices (both of which will fade away as the demand for homes grows).
How will you know when the timing is right to both sell and buy? Ask an industry expert: your real estate agent. As someone who has their finger on the pulse of the housing market every day, they can help you evaluate the current market and try to predict what changes could be coming in the near future.
Even if you’ve been through it before, the act of upsizing or downsizing can be complex. For tips, as well as answers to any questions, contact a Windermere agent any time.
November Home Maintenance Checklist
November brings a transition to shorter days, colder weather and spending more time indoors. It also brings anticipation, planning and preparation for Thanksgiving and the upcoming winter holidays.
Our checklist this month includes small, quick and easy tasks you can do now to get a jump start on your holiday hosting preparation so you can enjoy friends and family when they arrive.
Replace chair floor protectors. Prevent damage to your hardwood floors by adding or replacing floor protection pads to the legs of your chairs. Hardware stores sell felt self-adhesive protectors that are easy to use.
Clean garbage disposal. Run a few pieces of lemon rind with some ice cubes through your garbage disposal to keep it smelling fresh. The ice chunks scour the blades and scrape away debris. Products that clean and deodorize garbage disposals can also be purchased in retail stores.
Repair plumbing issues. Fix a slow drain or a stuck garbage disposal now rather than wait until you have a full house of guests.
Check bathtub caulk. Use diluted bleach to clean caulk that is moldy or mildewed. Avoid water damage to your home’s framing by replacing worn-out caulking as soon as possible.
Stock up for winter. Buy winter supplies like shovels and ice melting products now so you’ll be ready when the first snow falls.
Silence squeaky door hinges. Spray some cooking oil or other lubricant on door hinges. Be sure to first place a drop cloth on the floor to protect it and also blot the hinge with a rag to remove excess oil.
Clean kitchen exhaust fan filter. Remove kitchen exhaust fan screen and scrub with a mild detergent or run through the dishwasher.
Check fire extinguishers. Locate your fire extinguishers and be sure their gauge shows enough pressure.
Set aside a November afternoon to do the items on this home maintenance list, then sit back and enjoy a cup of hot apple cider. Happy Thanksgiving!
For more information about Windermere Evergreen please contact us here.
How an Investment in Green Technology Can Pay off for Today’s Homeowner
Studies continue to show that real estate buyers are willing to pay a substantial premium for homes that feature highly efficient, environmentally friendly “green energy” technology.
While the added value depends on the location of the home, its age, and whether it’s certified or not, three separate studies all found that newly constructed, Energy Star- or LEED-certified homes typically sell for about nine percent more than comparable, non-certified new homes. Plus, one of those studies discovered that existing homes retrofitted with green technologies, and certified as such, can command a whopping 30-percent sales-price boost.
Options include technologies that you may already be very familiar with, as well as some new breakthroughs that may surprise you:
Fuel cells
Fuel cells may soon offer an all-new source of electricity that would allow you to completely disconnect your home from all other sources of electricity. About the size of a dishwasher, a fuel cell connects to your home’s natural gas line and electrochemically converts methane to electricity. One unit would pack more than enough energy to power your whole home.
Past fuel cells have been far too expensive and unreliable. But Redbox Power Systems, a company that’s planning to launch its first fuel cell later this year, is using new materials, claims they’ll be able to cut the purchase price by 90 percent, and predicts the associated electricity-bill savings will allow homeowners to pay off that purchase price in just two years’ time.
Wind turbine
A wind turbine (essentially a propeller spinning atop an 80- to 100-foot pole) collects kinetic energy from the wind and converts it to electricity for your home. And according to the Department of Energy, a small version can slash your electrical bill by 50 to 90 percent.
But before you get too excited, you need to know that the zoning laws in most urban areas don’t allow wind turbines. They’re too tall. The best prospects for this technology are homes located on at least an acre of land, well outside the city limits.
Cool roofs keep the houses they’re covering as much as 50 to 60 degrees cooler by reflecting the heat of the sun away from the interior, allowing the occupants to stay cooler and save on air-conditioning costs. The most common form is metal roofing. Other options include roof membranes and reflective asphalt shingles.
Green roof
Another way to keep the interior of your house cooler—and save on air-conditioning costs—is to replace your traditional roof with a layer of vegetation (typically hardy groundcovers). This is more expensive than a cool roof and requires regular maintenance, but young, environmentally conscious home owners are very attracted to the concept.
Hybrid heating
Combining a heat pump with a standard furnace to create what’s known as a “hybrid heating system” can save you somewhere between 15 and 35 percent on your heating and cooling bills.
Unlike a gas or oil furnace, a heat pump doesn’t use any fuel. Instead, the coils inside the unit absorb whatever heat exists naturally in the outside air, and distributes it via the same ductwork used by your furnace. When the outside air temperature gets too cold for the heat pump to work, the system switches over to your traditional furnace.
Geothermal heating
Geothermal heating units are like heat pumps, except instead of absorbing heat from the outside air, they absorb the heat in the soil next to your house via coils buried in the ground. The coils can be buried horizontally or, if you don’t have a wide enough yard, they can be buried vertically. While the installation price of a geothermal system can be several times that of a hybrid, air-sourced system, the cost savings on your energy bills can cover the installation costs in five to 10 years.
Solar power
Solar panels capture light energy from the sun and convert it directly into electricity. For decades, you may have seen these panels sitting on sunny rooftops all across America. But it’s only recently that this energy-saving option has become truly affordable.
In 2010, installing a solar system on a typical mid-sized house would have set the homeowner back $30,000. But today, that price has been slashed to an average of just $19,000. Plus, some companies are now offering to rent solar panels to homeowners (the company retains ownership of the panels and sells the homeowner access to the power at roughly 10 to 15 percent less than they would pay their local utility).
Solar water heaters
Rooftop solar panels can also be used to heat your home’s water. The Environmental Protection Agency estimates that the average homeowner who makes this switch should see their water bills shrink by 50 to 80 percent.
Tax credits/rebates
Many of the innovative solutions summarized above come with big price tags attached. However, federal, state and local rebates/tax credits can often slash those expenses by as much as 50 percent. So before ruling any of these ideas out, take some time to see which incentives you may qualify for at dsireusa.org and the “tax incentives” pages at Energy.gov.
Regardless of which option you choose, these technologies will not only help to conserve valuable resources and reduce your monthly utility expenses, but also add resale value that you can leverage whenever you decide it’s time to sell and move on to a new home. Please click here for more information on Windermere in Evergreen.
Seven Trends That Will Define the Home of the Future
#1: Faster home-construction
Today, it takes somewhere between 18 months and two years to design and build your custom dream home. In the foreseeable future, experts predict that timeline will be slashed to six to nine months.
Architects will use immersion technology to not only develop plans faster, but also enable you to “walk” through a three-dimensional representation of the house and experience what it will be like to live there. Changes to the layout could be incorporated with a few clicks of the keyboard and mouse.
And, instead of delivering raw materials to the construction site and having workers cut and assemble them to match the plans, about 70 percent of the cutting and assembling work will take place in a precision-controlled factory environment. Once the foundation is ready, the pre-constructed walls, floors and roof will be delivered in “folded” sections, complete with windows, doors, fixtures, and even appliances, already installed.
#2: Alternative building materials and techniques
One of the big breakthroughs in home construction coming in the near future will be the use of steel framing in place of lumber.
Steel is not only stronger (able to withstand a 100-pound snow load, 110 mile per hour winds and significant earthquakes), it’s also far more eco-friendly than most people think (manufactured from up to 77 percent recycled materials) and much less wasteful (typical lumber framing generates 20 percent waste, while steel framing generates just two percent).
Other innovative home-building materials moving towards the mainstream include:
- Wall insulation made of mushroom roots (it grows inside the air cavity, forming an air-tight seal).
- Panels made of hemp and lime.
- Windows made from recycled wood fiber and glass.
- Recycled-glass floor and counter tiles.
- Reclaimed wood (beams and flooring re-milled and repurposed).
#3: Smaller homes with inventive layouts
The optimum home size for many Americans has been shrinking, and experts predict it will shrink more in the future. But it will feel bigger than it is because the layout will be so practical.
The driving forces behind the small-house movement (millennials purchasing their first home and baby boomers looking to downsize) aren’t interested in formal dining rooms, home offices, guest quarters and other spaces that have only one use and are only occasionally occupied. And they certainly aren’t interested in formal entries, high ceilings and three-car garages. They want an informal house layout, with flexible, adaptable spaces that can be used every day in one way or another.
Many of these homes will also feature a second master bedroom, so parents, children and grandparents can all comfortably live under one roof.
#4: Walkable neighborhoods
Even today, homebuyers are willing to give up some of their wants for a new house in order to get a location that’s within walking distance to stores, restaurants and other amenities. In the future, that trend is expected to only grow stronger.
#5: The net zero house
For some time now, homeowners and homebuilders have both been striving to make the structures where we live more energy-efficient (green housing projects accounted for 20% of all newly built homes in 2012). But in the future, the new goal with be a net-zero home: A home that uses between 60 to 70 percent less energy than a conventional home, with the balance of its energy needs supplied by renewable technologies (solar, wind, etc.).
Essentially, these are homes that sustain themselves. While they do consume energy produced by the local utility, they also produce energy of their own, which can be sold back to the utility through a “net metering” program, offsetting the energy purchased.
#6 High-tech features
The technology revolution that’s transformed our phones, computers and TVs is going to push further into our homes in the not-too-distant future.
Examples include:
- Compact robots (similar to the Roomba vacuum) that will clean windows and more.
- Video feeds inside the oven that will allow you to use your phone to check on what’s cooking.
- Faucet sensors that detect bacteria in food.
- Blinds that will automatically open and close depending on the time of day, your habits and the amount of sun streaming through the windows.
- Refrigerators that will monitor quantities, track expiration dates, provide recipes, display family photos, access the Web, play music, and more.
- Washers and dryers that can be operated remotely.
- Appliances that will recognize your spoken commands.
- Heating and cooling systems that automatically adapt to your movements and can predict your wants.
#7: A higher level of security
In the future, home will continue to be a place where we want to feel safe and secure. To accomplish that, you can expect:
- Sensors that can alert you to water and gas leaks.
- Facial recognition technology that can automatically determine whether someone on your property is a friend or foe.
- A smart recognition system that will open the garage door, turn off the security system, unlock the doors and turn on the interior lights when it senses your car approaching.
- The capability to create the illusion that you’re home and moving about the property when you’re actually someplace else.
This is no pipe dream
Many of these products, processes and strategies are already in use. Some are still being tested. And others are only in the incubator stage. But in the not-too-distant future, experts believe they’ll all be available to homeowners across the country.
If you are looking for someone who can help you along this process please click here.
A Home Addition: What to Consider Before Starting to Build
Adding on to your current home may be your best bet if you’re short on space, but you don’t want to move or can’t find another house in the area with all the qualities you’re seeking. It’s also an attractive option if the house you have is lacking just one significant element (a family room, another bedroom, a larger kitchen, a separate apartment, etc.).
On the other hand, even a modest addition can turn into a major construction project, with architects and contractors to manage, construction workers traipsing through your home, hammers pounding, and sawdust everywhere. And although new additions can be a very good investment, the cost per-square-foot is typically more than building a new home, and much more than buying a larger existing home.
Define your needs
To determine if an addition makes sense for your particular situation, start by defining exactly what it is you want and need. By focusing on core needs, you won’t get carried away with a wish list that can push the project out of reach financially.
If it’s a matter of needing more space, be specific. For example, instead of just jotting down “more kitchen space,” figure out just how much more space is going to make the difference, e.g., “150 square feet of floor space and six additional feet of counter space.”
If the addition will be for aging parents, consult with their doctors or an age-in-place expert to define exactly what they’ll require for living conditions, both now and over the next five to ten years.
Types of additions
Bump-out addition—“Bumping out” one of more walls to make a first floor room slightly larger is something most homeowners think about at one time or another. However, when you consider the work required, and the limited amount of space created, it often figures to be one of your most expensive approaches.
First floor addition—Adding a whole new room (or rooms) to the first floor of your home is one of the most common ways to add a family room, apartment or sunroom. But this approach can also take away yard space.
Dormer addition—For homes with steep rooflines, adding an upper floor dormer may be all that’s needed to transform an awkward space with limited headroom. The cost is affordable and, when done well, a dormer can also improve the curb-appeal of your house.
Second-story addition—For homes without an upper floor, adding a second story can double the size of the house without reducing surrounding yard space.
Garage addition—Building above the garage is ideal for a space that requires more privacy, such as a rentable apartment, a teen’s bedroom, guest bedroom, guest quarters, or a family bonus room.
Permits required
You’ll need a building permit to construct an addition—which will require professional blueprints. Your local building department will not only want to make sure that the addition adheres to the latest building codes, but also ensure it isn’t too tall for the neighborhood or positioned too close to the property line. Some building departments will also want to ask your neighbors for their input before giving you the go-ahead.
Requirements for a legal apartment
While the idea of having a renter that provides an additional stream of revenue may be enticing, the realities of building and renting a legal add-on apartment can be sobering. Among the things you’ll need to consider:
- Special permitting—Some communities don’t like the idea of “mother-in-law” units and therefore have regulations against it, or zone-approval requirements.
- Separate utilities—In many cities, you can’t charge a tenant for heat, electricity, and water unless utilities are separated from the rest of the house (and separately controlled by the tenant).
- ADU Requirements—When building an “accessory dwelling unit” (the formal name for a second dwelling located on a property where a primary residence already exists), building codes often contain special requirements regarding emergency exists, windows, ceiling height, off-street parking spaces, the location of main entrances, the number of bedrooms, and more.
In addition, renters have special rights while landlords have added responsibilities. You’ll need to learn those rights and responsibilities and be prepared to adhere to them.
Average costs
The cost to construct an addition depends on a wide variety of factors, such as the quality of materials used, the laborers doing the work, the type of addition and its size, the age of your house and its current condition. For ballpark purposes, however, you can figure on spending about $200 per square food if your home is located in a more expensive real estate area, or about $100 per food in a lower-priced market.
You might be wondering how much of that money might the project return if you were to sell the home a couple years later? The answer to that question depends on the aforementioned details; but the average “recoup” rate for a family-room addition is typically more than 80 percent.
The bottom line
While you should certainly research the existing-home marketplace before hiring an architect to map out the plans, building an addition onto your current home can be a great way to expand your living quarters, customize your home, and remain in the same neighborhood.
When Things Go Bump in the Night
It’s almost Halloween; the time of year when people decorate their homes with haunting embellishments and spooky décor. Bats, spiders, and rodents are all good and fun when they’re made of plastic, but when you have the real thing taking up residence in your home, it’s no treat. Here are some tips for making sure these frightening critters don’t make your house their permanent home.
Blood Suckers
While they may not turn into vampires in real life, preventing a bat infestation is actually good for your health. That’s because bats are a known carrier of rabies and an accumulation of their droppings can cause lung problems in humans. Bats can enter your home through holes less than an inch wide, and when they do, they often find the attic to be very accommodating to their needs. So, how do you keep them from settling in? Start by checking your roof and siding for any gaps. Check your attic for any signs of infestation, including: brown stains around any openings in your siding or roof (from oil on their skin), droppings, or strange sounds coming from the attic. Ghosts aren’t the only ones who like it up there.
To prevent or rid your home of bats follow these tips:
- Get rid of the bats now, so they can find alternative shelter before hibernation season in the winter.
- Check with local pest control companies; in some states it is illegal to exterminate bats.
- Locate the point of entry.
- Hire a professional to evacuate the bats.
- As mentioned above, bats can cause health problems; hire a professional who has experience and the right equipment. There are humane options available.
- Prevent re-entry by sealing any openings.
- Use mothballs to prevent re-nesting. Bats have a tendency to return to previous nesting sites, so this may need to be repeated.
Creepy Crawlies
In lists of common phobias, more than thirty percent of adults report fearing spiders, right behind public speaking and death. Most spiders that you find in your home are perfectly harmless; however, that doesn’t mean you want to share your space with them. To be on the safe side, there are some measures you can take to protect yourself from our little eight legged friends. Even a bite from a harmless spider can cause infections with itchy, red skin. In most cases, it can be treated by washing it with cool, soapy water, elevation, and an ice pack. Of course, if it shows signs of getting worse, your next step should be calling your doctor. Spider varieties that you should avoid include: Hobo spiders, Black Widows, Brown Recluses, and the Yellow Sac spider. These spiders are poisonous and can cause a number of symptoms from vomit to necrotic lesions. According to experts, spiders very rarely cause death in humans; however, if you are bit by a venomous spider you should seek immediate medical attention (and bring the spider remains with you, if possible).
Here are some tips to reduce spiders in your home:
- Kill spiders on sight.
- Place non-poisonous spider traps with non-toxic attractants and glue in areas where spiders are commonly found and in corners.
- Be careful with common insect repellent and spider sprays, these can be toxic and harmful to children and pets.
- Spiders can be deterred with essential oils: lavender, chestnut, clover leaf, and coconut.
- Use ultrasonic devices.
Rodents:
The most effective way to prevent mice and rat infestation is to keep them out of your home in the first place. Mice can get through a gap as small as a quarter of an inch, so thoroughly inspecting the foundation and interior of your home for entrance points and sealing any cracks or holes is a great way to start. Rodents are also excellent at tracking food sources. Keep all food, including pet food and pantry items in secure bins and jars.
If you have found evidence of mice or rats (generally droppings or urine) take caution. Rodent secretions can be hazardous, and can spread salmonella or hanta virus. There are multiple methods for removing rodents from your home, including traps, poison bates, electronic and sonic devises and, a house cat, or professional exterminator.
If you are getting rid of the critters on your own you will want to follow these steps:
- Identify their food source(s), entry points, and common routes around and through your home.
- Remove food source with secure packaging that cannot be chewed through, such as glass containers.
- Seal all entry points with wire mesh.
- Place sonic devises, traps, poison, or other deterrents in the pathway of the rodents.
- Use caution, make sure poison or exposed traps are not accessible to children or pets.
- If you find urine, droppings, or a dead mouse you will want to spray the surface and mouse with a bleach/water solution. Using gloves and a face mask, remove the rodent and wipe all surfaces.
- If you have identified a large quantity of rodents, contact a professional for removal and clean up.
- You may need to take extra measures to ensure the removal is permanent by changing components of your back yard, replacing siding, or upgrading building materials to prevent outdoor nesting and re-infestation.
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
Renting vs. Buying in Today’s Market
The debate about whether it makes more financial sense to rent or buy has been raging for decades. Advocates of buying say: When you rent, you’re essentially paying someone else’s mortgage. Buying, on the other hand, is an investment—one that can significantly increase in value every year you continue living in the home.
Fans of renting say: The extra costs associated with owning a home (interest payments on the loan, property taxes, homeowner dues, improvement/repair costs, etc.) add up. And there’s no guarantee that those expenses will be recouped when the house is sold. Instead of investing in a home, you may be better off investing your savings in stocks, bonds, and other financial securities.
Who’s right?
According to Jed Kolko, one of the country’s most respected real estate economists, “Mortgage rates are still near long-term lows. Because prices fell so much after the housing bubble burst, and remain low relative to rents even after recent price increases, buying is still much cheaper than renting.“
But that’s a blanket statement. The right option for you depends on your personal circumstances, and your answers to the following questions:
What’s the real estate situation in your city?
Industry groups put out reports every quarter stating the average national sales price for a home, and the average monthly payment for a U.S. rental. But what really matters is what the numbers show when you dig into them on a local level.
The reports are almost always based on average for all the cities in the country. Delve into the details, and you’ll see there are some cities that fall well below that average, and some that rise far above it. The learning: When comparing housing costs, be sure to base your evaluation on what’s happening in your city and neighborhood, not the nationwide averages.
How long do you expect to live there?
If five years is the longest you can envision yourself living in one place right now, renting is probably your best bet financially. But if you think you’re ready to put down roots for as long as 10 years, chances are very good that any home you purchase will appreciate during that time even if the economy runs into some bumps along the way.
What’s the mortgage rate?
One of the other key factors to consider is the cost of your loan (the interest you’ll pay the lender). Fortunately, you now have access to some of the lowest mortgage interest rates in history, even if they increase a bit over the coming year, as many expect. According to a recent article in Forbes, “Compared to decades past, today’s rates are unprecedentedly—and artificially—low. They’re the direct result of a Federal Reserve-funded fiscal stimulus plan, better known as the third round of quantitative easing of QE3, aimed at hastening the recovery in housing and the economy as a whole.”
Can you pay a bit more?
If you can afford to pay a little extra towards your mortgage bill each month, it makes even more sense to buy. Paying $300 more per month (on a 30-year, $300,000 loan) will knock eight years off the life of the loan and reduce your final bill by more than $63,000 (that’s savings you would never see if you rented).
Will you need to make repairs or improvements?
Buying a fixer-upper may seem like a great way to get a deal on a house, but if the money you spend on the repairs is too great, your profit could be slashed when it comes time to sell. The same is true for remodeling and improvement projects. If you can only afford a home that demands major improvements, and you don’t have the skills to do much of the work yourself, it’s probably better to rent.
Do you have other ways to invest?
Many see a home purchase as an easy way to invest—a place where they can generate savings through home equity. But others say you can make more money renting an apartment and investing your savings in stocks, bonds, and other financial securities.
According to two professors studying the issue, it is possible to make more money investing in securities, however, you need to invest ALL the money you would have put towards the house (something most people can’t/won’t/don’t do). Plus, do you have the knowledge, resources and liquid cash necessary?
“We find that if people don’t invest the money, actually about 90% of the time, you’re better off buying,” says professor Eli Beracha, a co-author of the study.
Can you rent part of the house?
Here’s a twist: If you buy a house that includes a rental (space bedroom, mother-in-law unit, etc.), you could BE the landlord instead of paying the landlord. With that rental income, you could pay off the mortgage faster and contribute more to your savings. But, of course, you need to be willing to share your home with a tenant and take on the responsibilities of being a landlord.
Making your decision
To make your decision about whether to rent or buy easier, input the key financial facts regarding your situation into this Realtor.com Rent vs. Buy Calculator: https://www.realtor.com/mortgage/tools/rent-or-buy-calculator/. For help making sense of the results and analyzing other factors, contact an experienced Windermere Real Estate agent by clicking here.
Find a New Home in Four Steps
Whether you’re a first-time homebuyer or a current owner looking for a bigger home, the ideas below will help you better navigate that all-important first step: Finding a property that you like (and can afford).
The search for a new home always starts out with a lot of excitement. But if you haven’t prepared, frustration can soon set in, especially in a competitive real estate market. The biggest mistake is jumping into a search unfocused, just hoping to “see what’s available.” Instead, we recommend you first take some time to work through the four steps below.
Step 1: Talk to your agent
Even if you’re just thinking about buying or selling a house, start by consulting your real estate agent. An agent can give you an up-to-the-minute summary of the current real estate market, as well as mortgage industry trends. And can also put you in touch with all the best resources and educate you about the next best steps. Plus much more.
Step 2: Decide how much home you can afford
It may sound like a drag to start your home search with a boring financial review, but when all is said and done, you’ll be glad you did. With so few homes on the market now in many areas, and so many people competing to buy what is available, it’s far more efficient to focus your search on only the properties you can afford. A meeting or two with a reputable mortgage agent should tell you everything you need to know.
Step 3: Envision your future
Typically, it takes at least five years for a home purchase to start paying off financially, which means, the better your new home suits you, the longer you’ll most likely remain living there.
Will you be having children in the next five or six years? Where do you see your career heading? Are you interested in working from home, or making extra money by renting a portion of your home to others? Do you anticipate a relative coming to live with you? Share this information with your real estate agent, who can then help you evaluate school districts, work commutes, rental opportunities, and more as you search for homes together.
Step 4: Document your ideal home
When it comes to this step, be realistic. It’s easy to get carried away dreaming about all the home features you want. Try listing everything on a piece of paper, then choose the five “must-haves,” and the five “really-wants.”
For more tips, as well as advice geared specifically to your situation, contact an experienced Real Estate Agent by clicking here.
