Friendly Advice For Home Owners from Several Reliable Sources
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All About Buying a Second Home
Pros and Cons of a Second Home: Is it a Primary Residence, a Second Home or Investment Property?
Buying a second home is a big step and most likely your most valuable investment after your primary residence. You should never rush into a home purchase; you need to consider it over time. Determine how much use your vacation home will get and how it can fit into your finances.
Don't forget to double everything. Buying a vacation home means that you will not only have two mortgages, but also two property tax bills, water bills, fuel bills, etc. Two homes also mean more maintenance, including two plumbing and heating systems, septic systems, and roofs. And if something breaks down in your second home, chances are you may not be there to see it. For some, this is too stressful to contemplate.
At the same time, owning a second home can be very rewarding. It can be the source of relaxation; a time to get closer to your family; a place to go and be a kid again; and a place to meet new friends. Someday, it can even be a place to which you retire.
Lastly, owning your own home is not like renting. You get to leave your "stuff" there to truly make it your home. You can make impromptu escapes, leaving the stress of everyday life behind. And your children and grandchildren will likely feel more comfortable in a place they have learned to call home.
Don't forget to double everything. Buying a vacation home means that you will not only have two mortgages, but also two property tax bills, water bills, fuel bills, etc. Two homes also mean more maintenance, including two plumbing and heating systems, septic systems, and roofs. And if something breaks down in your second home, chances are you may not be there to see it. For some, this is too stressful to contemplate.
At the same time, owning a second home can be very rewarding. It can be the source of relaxation; a time to get closer to your family; a place to go and be a kid again; and a place to meet new friends. Someday, it can even be a place to which you retire.
Lastly, owning your own home is not like renting. You get to leave your "stuff" there to truly make it your home. You can make impromptu escapes, leaving the stress of everyday life behind. And your children and grandchildren will likely feel more comfortable in a place they have learned to call home.
Short Sales and Other Options
Professional Real Estate Short Sale negotiators review paperwork in the short sale process. If you find yourself in financial hardship and facing a foreclosure, you may request that the lender carry out a short sale instead. With a short sale, you sell your home to a buyer for less than your outstanding balance. To get your lender's approval for short sale, you have to go through several stages, before you even thik about starting your Relocation
| | Home Improvement  Looking to remodel your living room, bathroom, and kitchen? Or maybe you just need an interior designer to help you sort out the clutter and chaos of your house? Perhaps a maid service, landscaper, gutter guy or general contractor for all of the above and more, to help you maintain what for most people is their biggest investment: their home. |
Home Services & Remodeling Articles:
Renovation projects that take longer than expected is a common problem, one that can prove immensely disruptive and expensive. While unforeseen delays cannot be predicted, there are some steps you can take to ensure that problems are minimized and massive disruption averted.
1. Plan to succeed – No one plans to fail, but you aren't planning to succeed if your project hasn't been clearly defined. This means making use of design plans such as blueprints to show details of your project right down to the placement of electric and plumbing lines.
2. Get it approved – Many municipalities require that you, the homeowner, submit your plans for approval before the Planning Dept. This is particularly so when the footprint of your home changes or some other work is undertaken that changes the size of your home as in raising the roof. Some towns require that you notify your neighbors personally and get their approval. Know what your town requires before starting work otherwise your job could be held up if the proper permits have not been issued.
3. Seek financing – Unless you have cash on hand to pay for your home improvement project, you'll need to obtain financing, such as home equity lending, a move that can take some time to complete. Your financing needs to cover the entire cost of the project, but expect that some costs will change, including materials and labor. Set aside a buffer amount of cash to cover contingencies. Insist that your contractor keep you apprised to changes that will drive up your costs.
4. Talk to your insurance agent – Notify your home insurance agent of your pending project. She can discuss with you the types of insurance you must have while the project is taking place. You may need to increase your homeowner coverage before the project is complete. In addition, your agent will instruct you to check with your contractor and his subcontractors to ensure that everyone who comes on your premises has personal liability insurance. This may be a good time to review your umbrella policy or extending the limits of your personal liability to include Workers Compensation on your project.
5. Moving out – An extensive renovation means one thing: you'll need to find temporary housing while your job is being completed. If you anticipate that the work will take six months to complete, and then find a rental with a six-month lease. Also, ask for a proviso where you can extend your stay month to month in the event that the job does take longer. You don't want to be forced to seek a different housing arrangement if you don't have a contingency plan in place.
Further delays can happen at the end of the project if clean up has been slowed down or an occupancy permit hasn't been obtained by the town. Work with a calendar and anticipate when you need to take action to help get the job done, and move back into your “New Home”.
Kitchen Remodels
Before beginning a kitchen remodeling project, there are several basic elements that you should consider to ensure that your kitchen turns out as you hope.
If you're concerned with recouping the cost of your kitchen remodel, you will want to consult with a real estate agent who can provide you with local market information. You may find that your home is already in the upper end of values in your neighborhood, so you'll likely have a lower return on your home improvement than if you owned the home worth the least in your neighborhood. Home Over-Improvement Can Lead to Market Under-Performance.
Before embarking on a major home improvement like a kitchen remodel, be sure it makes more sense to renovate than to move to a home that already has a new kitchen, and perhaps other amenities that you desire but that your current home lacks. Read Remodel or Move: Does It Make More Sense to Stay or Go?
Remodeling a kitchen is stressful. It will probably take you a month or more to complete. During that time, you'll need to relocate your kitchen - perhaps to your dining room. That means your refrigerator and perhaps a stove, microwave, your pots and pans, and all of your food. It will be messy. Ripping old cabinets off of the wall, cutting holes in the ceiling, and preparing the floor will make the rest of your home dusty, even if the kitchen is sealed off.
Remodeling a kitchen is best done when the weather is moderate, so your living space expands to include your yard and what may become your best friend during the process - your gas grill. Your other new best friend will most likely be the pizza delivery person.
Bathroom Remodels
According to an online survey that covers construction, home improvements that yield the greatest return on investment are siding replacement, deck additions, minor kitchen remodels, window replacements and bathroom remodels. For example, the average cost in the U.S. of a minor kitchen remodel is approximately $21,000, and the return on investment is 83.2%. Home improvements that yield the least return on investment are home office remodels, backup home generators, sun room additions, master suite additions and garage additions. The average cost of a sun room addition is around $69,800 and the return on investment is only 59.1%.
Here are some tips for how to make top-notch changes to your home:
Focus on the kitchen and bathroom. The kitchen is the heart of the home, where the family spends the most time, so it should be warm and comfortable. The bathroom is typically the most outdated part of the home, because it’s not highly visible. Despite the modern appearance of the rest of a house or condo, going into the bathroom can be like stepping through a time warp. A well-planned bathroom remodel offers homeowners the chance to transform an outdated space into a spa-like retreat. The details, however, can sometimes be overwhelming. Before beginning a bathroom remodel, consider these tips to ensure a stress-free renovation.
Five Home Improvements That Don't Always Add Value to Your Home
Everywhere you look these days, folks are sprucing up their homes. Although interest rates are rising, consumers are still enamored with the home improvement craze? and with good reason. They have a lot invested. Balances on home-equity lines of credit have soared 71 percent to $543.2 billion over the last two years, according to an analysis by Equifax Inc. and Moody's Economy.com. Although some of this money was spent on consolidating high-interest credit card debt, vacations, and college tuitions, a large portion was earmarked by homeowners for improvements to increase the value of their homes. The problem, however, is that many of their investments may fail to recoup even half of their original costs.
Not-So-Sure-Fire Improvements
1. A pool.
2. High-end accessories.
3. Wall-to-wall carpeting.
4. Elaborate landscaping
5. New windows.
If you are considering making an improvement to add value to your home, Home Over-Improvement Can Lead to Market Under-Performance.
You can't contemplate home improvement in a vacuum. While a media room is one of today's hottest remodeling projects, if your house is in dire need of an additional bathroom, then theater-style seating and soundproof walls will most likely be a wash at resale time. If watching the latest blockbuster with your family in the comfort of your own home is worth more to you than whether you will recoup 60 to 80 percent of the project's cost at resale, than go for it. But don't expect potential buyers to get lathered up about the built-in surround-sound system when the insect-damaged front deck is in need of serious attention. Below are five home improvements that don't always increase the value of your home.
2. High-end accessories.
3. Wall-to-wall carpeting.
4. Elaborate landscaping
5. New windows.
If you are considering making an improvement to add value to your home, Home Over-Improvement Can Lead to Market Under-Performance.
You can't contemplate home improvement in a vacuum. While a media room is one of today's hottest remodeling projects, if your house is in dire need of an additional bathroom, then theater-style seating and soundproof walls will most likely be a wash at resale time. If watching the latest blockbuster with your family in the comfort of your own home is worth more to you than whether you will recoup 60 to 80 percent of the project's cost at resale, than go for it. But don't expect potential buyers to get lathered up about the built-in surround-sound system when the insect-damaged front deck is in need of serious attention. Below are five home improvements that don't always increase the value of your home.
| Food & Entertainment In El Dorado County  Whether you're planning a sophisticated dinner party, or just a night out for two, start your search for these helpful tips. |
Food & Entertainment Outdoors
Outdoor Entertaining Tips
How to Prepare for Outdoor Entertaining
Instructions
Things You Will Need: Cleaning Supplies, Power Washer, a Hose, Various tools, Ambition, Vision
1. Examine the surfaces. Winter's freeze-thaw cycle is hard on homes. Look for signs of splitting or peeling on every horizontal surface - window sills, steps, fences, doorframes. Seal and repaint.
2. Clean, clean, clean. A low-power pressure washer attached to the garden hose is a miracle worker. A quick wash on outdoor furniture, fences and patios with the help of a scrub brush will remove winter's dingy film. Siding is easily damaged, though, so consider hiring professionals to wash your exterior walls.
3. Clear the gutters. Remove any stuck debris. Test the downspouts to be sure they are directing water at least 12 inches away from the foundation of the house. To make the exterior of the gutters look like new, especially white ones, take a tip from the experts: wipe them down with a household cleanser such as 409 or Fantastic.
4. Check the deck. With wood decks, it is important to inspect carefully for nails and screws that winter's wrath may have pushed up. Tear off any large splinters of wood. Scout for wasps nests or other infestations. Restain or reseal the wood because preventative maintenance will double the life of a deck.
5. Freshen the furniture. Use the color the pros do when repainting your patio furniture, Wrought Iron Black by Premier Paint. Purchase new pillows in a bright color. Rather than setting the furniture in the same positions as last year, rearrange the seating configuration and consider investing in a new bench or two.
6. Light the night. Whether using aluminum exterior house lights, or bringing out your outdoor accent posts, be ready with fresh bulbs and glass cleaner. Residue builds on outdoor lighting during winter or in storage. Give lamps a good once-over to ensure your lights glow flawlessly.
about the Author:
Jill Berni is the Broker/Owner of OakTree Real Estate Services, and has been a resident of the Folsom Lake and El Dorado Hills Area of Northern California since 1981.
She can be reached at: RelocationSensation@yahoo.com
