Summer Home Improvements that Add Value

Are you considering making home improvements this summer to your home? The best home improvement projects will not only add value to the property, but will also make it more enjoyable for you and your family. However, not all improvements will add value. For example, spending on painting the walls is one area which many believe adds value, while in fact owners will see less than 50% of a return, if any. Consider these options instead when you are considering where to make improvements to your home that add personality and value.

Fix it up - Sounds simple enough, but people really don't consider fixing the items in the summer home as an improvement. If deck wood is rotting or if your faucets are leaking, simply repairing and replacing these things will help add value to your summer home. No matter which areas of the home need fixing, it is better to repair these first before you hire contractors to begin new constructions. If you plan on selling the home, buyers will want things to work and look good. And, if you plan on keeping the property, you want to know everything is in working condition. For a reasonable price, you can hire a great handyman to perform all repairs for you.

The lawn - Curb appeal is what draws people to a home. You don't have to spend a ton on fancy landscaping ideas, but nice floral arrangements or a new tree in the front lawn is inviting. Maintaining your lawn will definitely add to the home's value. It is more aesthetically pleasing, and it will also bring you joy to see how great your summer home looks when the lawn and garden are properly maintained.

Consider new lighting - New outdoor lighting will also help increase your summer home's value, plus it doesn't have to be that costly of a project to take on. Run some lights up and down the driveway, or add a new light post to the front porch. Having a nicely lit path is not only easier to get from the front driveway to the door, but it also looks better from a distance.

Shutters - New shutters—especially in areas where adverse weather conditions are a problem—will also add value to your summer home. If it is a hurricane or heavy storm area, shutters will protect the windows and glass along the home's front. Adding new shutters will also dress up the front of the home, as they come in numerous colors, shapes, and design options. Adding curb appeal, adding protection, and adding value for a fairly low cost makes adding shutters to your summer home a wise investment option.

There are a number of projects you can perform when it comes to increasing your summer home's value. These are some of the least costly options, and they won't take too much time to complete. Plus, most homeowners can even do themselves. At a low cost and high return value these are some projects to take on if you wish to increase your home's value this summer.

Creating a Home Office

These days, millions of people work from home thanks to innovative technology. In fact, over 20 million Americans telecommute for work at least part-time. This number is only expected to grow as technology advances. While there are pros and cons to everything, working from home presents more advantages than disadvantages. That explains why so many employees prefer telecommuting over hopping in their car and driving to an office.

Many residential architects are building home offices in new homes and in remodeling projects. A home office is a great way to add value to your home as well as functionality. If you’re thinking of creating your own home office, here are some things that you should consider:

One of the most difficult decisions is where to put the home office. Finding the right spot for your office can be a challenge. Some homeowners like to put their home office in the kitchen—the center hub of the house. Others prefer to create an office in a spare bedroom or the basement. If you choose the basement as the location, you need to make sure the space is absolutely dry. Also consider a private entrance for your home office for extra privacy.

Make technology available in the office. The whole point of working from home instead of the office is to be able to replicate what is available at the headquarters. This means that you need the correct wiring for voice communication, wireless setup, etc. Most homes that were built in the last few years have advanced wiring known as Category 5.

Make use of all available space. There will probably be plenty of wall space in your home office, and don’t be intimidated to use it. You can have bookcases and shelves from the floor to the ceiling if you choose. Don’t worry so much about aesthetics if you need lots and lots of storage space.

Be sure the electrical system is up to par. If you live in an older home with older wiring, there is the potential for power surges that can result in fires. If you need to upgrade the wiring, don’t put it off. Hire an electrician to make certain the system can handle the demands of your home office.

Paint the walls a motivating color. For some, yellow or red gets them motivated to work. Others perform better surrounded by calm blue walls. Choose a color that you love and that will motivate you. And don’t worry about what others think—it’s YOUR home office!

Most Popular Flooring Options

When you walk into a home, perhaps the first thing that catches your attention is the flooring. The right kind of flooring will enhance the finishing and appearance of your home. Also, flooring that looks attractive will increase your home’s value. Good flooring will also recoup its cost if you ever decide to sell your house at some point.

 

Let's take a look at the most common flooring options available:

 

Hardwood Flooring

 

Hardwood flooring is not only beautiful but also durable. Wooden flooring is available in beech, maple,  oak, walnut, birch, cherry, and many more. Some kinds of hardwood flooring are prone to expanding and shrinking. This may lead to gaps in the floor. Some wooden flooring may also darken with age.

 

Ceramic Tiles

 

Ceramic tiles are the best solution if you are looking for a flooring type that needs waterproofing. Ceramic tile can serve several purposes. You can use them as counter tops or floor tiles. Ceramic tiles sporting a high gloss finish may scratch over time. Unglazed ceramic tiles are ideal for outdoor flooring mainly because they can withstand exposure to water. Ceramic tiles are available in glazed, matte, embossed or textured finishes.

 

Porcelain based ceramic tiles are good at hiding scratches and damages. There is one problem, though. Cleaning grout lines can be quite difficult. Also, if the tiles are of low quality, they may chip.

 

Bamboo Flooring

 

Bamboo flooring is a relatively new type of flooring. This is also a greener option. Bamboo flooring is available in a range of colors. It is elegant and durable and creates a strong and clean surface. However, exposure to sunlight can darken bamboo flooring. In addition, if you install bamboo flooring, you need to ensure that it remains dry all the time.

 

Marble Flooring

 

In terms of durability and versatility, nothing can beat marble tiles. You can install them on the floors and the walls. They can also be used for hallway columns. Marble tiles don't require much maintenance. They can also be cleaned easily. Better still, marble tiles can be engraved with stylish designs that reflect your tastes.

 

Marble tiles are available in different colors. People have been using marble as a construction material for several thousands of years. However, their most popular use is in flooring. Marble tiles are available in different sizes. If you are really handy, you can install them yourself.

 

Laminate Flooring

 

Much of the popularity of laminate flooring can be attributed to the fact that it is quite cheap. Laminate flooring also requires very little maintenance. It is strong and durable. It can also withstand burns, chipping and scratches. Laminate flooring is ideal for areas where you expect high traffic. They look like natural materials and they are also available in a range of designs and colors.

 

Before installing laminate flooring, however, you should remember that they cannot be refinished. Also, they can be scratched very easily. If you are planning to install laminate flooring in areas where it will get exposed to moisture, you should choose laminates suitable for this use. Installing and maintaining laminate flooring is quite easy.

Why Your Refinance Bubble Might Burst

If you have been following the home finance sector, it wouldn’t come as a surprise that mortgage rates are heading north. The climb is gradual but sure footed, making long term homeowners reconsider their financing strategy. Most of them are opting for refinance since it offers significant savings and lowers the burden of monthly payments. However, some homeowners haven’t been able to get their refinance application approved. If you are one such disappointed homeowner or find yourself the verge of applying for refinance, please read the following:

You Have Not-Too-Impressive Credit History

This is an open secret—lenders want to lower their exposure to risk. So they prefer people with solid credit histories. Mortgage lending follows this tradition too. A credit score defines your ability to pay back in the long term. Credit score expectations might be relaxed for the usual, purchase loans, but the housing sector is a different game all together. Your credit scoring is also affected by your choice of refinance, i.e. a VA or an FHA loan. Some loan programs are very strict about the credit score while some don’t think of such scores as a serious eligibility condition. However, the lenders, the folks who actually issue the loans are always on the lookout for better credit profiles.

You Have Over-compromised Your Home’s Value

If you owe much more than the current market worth of your house, a lender is less likely to offer you a mortgage—this is totally relevant for traditional lenders. They don’t refinance homes that are supposedly under the water. Recently, the government introduced some unique refinance schemes for distressed homeowners. However, such programs are numbered. They might not be available in your state. Still, it is better to check through popular refinance programs, like the HARP—Home Affordable Refinance Program. Homeowners can apply for refinancing their Freddie Mac and Fannie Mae loans here.

You Have Substantial Mortgage Insurance

Mortgage insurance continues to test the conventional mortgaging wisdom. Traditional lenders treat it as an additional liability. This is more relevant if the insurance is being paid by the mortgaging firm. More issues persist if the federal government’s HARP program mortgage is involved. The restrictions might have been relaxed by some lenders, but overall mortgage insurance presents a major deterrent to refinancing.

You Don’t Earn Enough

Yes, the economy is progressing, but salaries are still under stress. A recovery is in motion as businesses are hiring more, but the packages on offer, even for experienced and skilled workers, aren’t very inspiring. So, be guarded in how you spend. Not earning enough and paying through a pile of bills can damage your evaluation for a refinance. Lenders too are recovering from the hammering of the economic downturn. Mortgage providers are digging deeper into borrower profiles. Weekend jobs or any type of supplementary income can also work in your favor. Even a handful of mortgage non-payments can work against you.

You Have Jumbo Liabilities

Homebuyers who have spent a fortune on their new residences are at a bigger risk of not qualifying for refinance. Big-property owners often take jumbo loans. These aren’t the safest bet in the lending industry. The slightest indication of a downswing in property rates in the neighborhood can leave such homeowners without any conviction for a refinance.

Creative Ways to Use Your Basement

A full basement foundation may be quite expensive, but it is well-worth the money you spend on it. Unlike a crawlspace alternative, a full basement provides great returns on your investment. In fact, a well-built basement can actually increase the value of your home when it is time to sell.

It’s not just about long term financial gains. Your basement will pay you back in several other ways as well.

Climate

Basements tend to be cool during the hot summer months and warm during the winter months. Since the basement is naturally insulated from heat and cold, you will not have to spend much money on cooling and heating. Because of its temperate climate, the basement is a great place to spend the day when it gets too hot or cold.

Peace and Quiet

Need some peace and quiet? The basement is a great place to escape into. Alternatively, you can move the exercise room or your children's playroom into the basement. This will make the upstairs quieter.

More Space

The basement is also a great place to accommodate your home office. Since many homes are now built on smaller lots, expanding down is better than expanding out.

Basements are no longer dark and dreary. While they are still prone to moisture and flooding problems, latest moisture prevention technologies have made them more livable. In addition, effective basement water barrier products are available nowadays. They can be installed fast and allows people to enjoy a dry and ready-to-use basement.

Because of these waterproofing techniques, your basement can be used in almost endless ways. Here are some ideas for using your basement.

The basement is perfectly suitable for housing certain kinds of rooms.

Media room

You can create an entertainment room in the basement because it is a secluded place. A dark basement is particularly suitable for housing a media room.

Activity room

Your basement can house a children's playroom or a home workshop. It can even house your private gym. The basement is easily accessible; still it is out of the way. By using the basement in innovative ways, you can free up valuable space upstairs.

Wine cellar

The temperate climate inside the basement makes it ideal for storing wine. So include a wine cellar in your basement plans if you are a wine connoisseur.

Laundry room

Consumers now demand more out of the laundry room. Since the basement has easy access to water and drainage, it is a great place for housing your laundry room.

Recreation room

Homeowners often don't mind experimenting with colors and other design elements in their basements. You can build a fully outfitted recreation room in the basement. You should also consider adding a pool table and other fun accessories. If the basement opens to the patio or the backyard, it can also be suitable for entertaining guests on a warm summer day.

Home spa

This might sound a bit unconventional, but the quiet and the peace of the basement make it a great place to accommodate a sauna.

Several homeowners are including a full basement in their house plan because of the many benefits of having one. Gone are the days when basements were synonymous with flooding. Now they have become an integral part of the family living space.

Tips for Designing Your Landscape

Looking for great ideas to design your landscape? By simply upgrading your yard, you can give your home a facelift. The best part is that designing your landscape isn't all that difficult or expensive. However, when so many landscaping techniques are available, you might find it difficult to decide which one is right for you.

Here is a quick overview of the hottest landscaping trends that are going to define your yard this spring and summer:

Boxy borders to make a comeback

Landscaping experts have started using plant borders all over again. Plants grown in attractive geometric shapes will give your yard a dramatic appeal. While last year, round corners were more popular, this year boxy borders are all the rage. You can create these borders using low maintenance shrubs. Complement them with stacked containers and green walls.

Add a dash of color

Expect to see a riot of colors this year. More and more landscaping projects now incorporate all colors of the rainbow so plant colorful grasses of all varieties. You should also blend your exotic plants with annuals that require less maintenance. You can expect to encounter containers sporting bright colors like yellow and red. You might even find some metallic shades.

Vertical gardening and green walls

Vertical gardens are already popular in small communities. This trend will only grow in 2014. These gardens are walls of living plants. They also help create a private space in your yard. You can add them to your existing landscaping to give your property a unique visual appeal.

Sustainable landscape plants

Many homeowners now add a mix of vegetables and fruit to their yard. Previously the trend was to use standard landscape plants. Now more people are adopting sustainable lifestyles.

Don't just use ornamental plants for landscaping. By growing herbs, vegetables and fruit you can make the best use of your space. Besides giving your backyard a unique look, vegetables and fruits also provide nutrition to the people who occupy the property.

Incorporate outdoor entertainment technology

Consumer technology is advancing by leaps and bounds and this has started invading our outdoor space as well. People are exploring ways to integrate landscaping and outdoor entertainment. And possibilities are endless. You can, for example, use fountains with sound activated lighting. Many people also use in-built surround speakers. Motion sensor technology lets visitors explore lighted paths. Wireless speakers can be mounted on trees.

Outdoor space to become an extension of indoor space

People now see their yard as an extension of their living space. This encourages them to explore all possible ways to make their outdoor space more functional.

Outdoor furnishings have already become an integral part of landscaping. Many people are also keen on designing play areas in their backyard. A well-designed backyard can even increase the value of your property. In fact, statistics reveal that homes that have an attractive landscape get sold faster. They also command higher prices.

While designing your landscape try to incorporate elements that will increase your enjoyment of the space.

Why Wooden Flooring is a Good Investment for Your Home

Wooden floors bring nature inside and that is their biggest charm. Hardwood flooring is particularly popular in open floor house plans.

Though more expensive, wooden flooring tends to last a lifetime and that makes it cost effective. Ceramic tiles are still the most popular flooring materials for homes. Hardwood flooring is also gaining popularity. In fact, the number of homeowners who get wooden flooring has consistently increased over the last few years.

The impact of great flooring

When you walk into a home, the first element that catches your attention is indeed the flooring. Flooring creates the ambience and binds the different parts of the home together. The flooring used in kitchens and large rooms is particularly important.

When you run wooden planks of the same color and the same species along the length of a room, the result is simply spectacular. For an open floor plan, it creates a seamless look.

Hardwood is still less popular than ceramic tiles because it is more expensive. However, its popularity is steadily increasing. Hardwood flooring is more common in high-end, luxury homes. Entry level homes, too, have started using hardwood flooring.

Why wooden flooring is better

Wooden floors last forever. That is the main reason people get them. If you install flooring that doesn't last for a long time, you will have to take it out at some time. This is a major disruption and it will cost you dearly. On the other hand, when you install wooden flooring, you can rest assured that the floor will outlast your home.

The housing market in the US is showing signs of recovery. The value of homes, too, has appreciated over the last few years. Many people now have considerable equity in their homes. And they are eager to further increase the value of their homes. As a result, they opt for materials that last a long time and have good resale value. Wooden flooring provides good return on investment. Appraisers too have started recognizing its value. This also makes it more popular as a flooring solution.

People now use wooden floors of all kinds. They mix raw finishes with polished one and dark hues with light hues. The black and brown shades are now giving way to lighter ones. That said, the grays aren't going away.

As far as the finishing is concerned, more and more people are getting matte finishes probably because they are better at hiding imperfections. When you use matte finish, you do not have to worry about the scratches on the surface of the wood.

Interestingly, the planks aren't just getting lighter; they are also getting wider. However, before installing a wide plank, you need to examine the quality of the wood.

Solid or engineered?

Solid hardwood tends to be more popular than engineered hardwood. Nearly two-thirds of homes that have wooden flooring use solid hardwood. One-third uses engineered hardwood. Laminates and vinyl sheets can also provide the wooden look. Bamboo and cork are also good alternatives. However, when it comes to wooden flooring, the challenge is to produce the effect that attracts the homeowner to hardwood. Wood exudes comfort and warmth. It brings the nature inside and that is its biggest plus point. Look-alikes can't beat its charm.

Laminate Flooring: Pros and Cons

If you are a looking to replace flooring in your home and don’t know which material to use, consider laminate flooring. It is one of the most popular flooring types right now, and its pros could make laminate flooring a winning choice for your home. Its price, look, and easy installation are just some of the reasons why homeowners choose laminate flooring.

Just like any material, laminate flooring does not come without a few cons. Consider the following pros and cons of laminate flooring in your final decision:

Here are some pros of laminate flooring:

·         Price- Compared to hardwood floors, laminate flooring costs less. It can be installed on top of practically any existing floor. It is extremely friendly on your budget.

·         Durability- Laminate flooring is extremely tough, and it handles high-traffic beautifully. It’s perfect if you have pets and children in your home. Laminate flooring is also scratch-resistant.

·         Ease of installation- You don’t need any nails or glue to install laminate flooring. Some planks interlock with each other using dried glue that is already present on them.

·         Stain-resistance- Resistant to most stains, laminate flooring is easy to clean. You don’t have to wax them, and they are also water-resistant when spills are taken care of quickly.

·         Availability- Laminate flooring comes in tile and hardwood designs, and there is sure to be one that fits your home’s style.

Here are some cons of laminate flooring:

·         Moisture damage- Laminate flooring can be prone to moisture damage if it is exposed to standing water. Warping can occur if the flooring is exposed to continuous high moisture levels.

·         Difficult to repair- Because it can’t be sanded and refinished, laminate flooring involves removal and replacement of all damaged planks.

·         Noise- Laminate flooring can sound hollow when walked on, and it can also creak and clack.

Laminate flooring is a great choice because it looks great and gives your home a polished look. Best of all, it’s inexpensive and can add value to your home!

When You Should Replace Your Carpeting?

As a homeowner, you want to make the best investment decisions when it comes to improvements and upgrades. Not only should you be concerned with home value, you probably want your home to have an attractive style. Carpeting is a great addition to complement your home’s décor and look, but you probably already know that it doesn’t last forever. The life span of carpet depends on the use, but regardless, it will have to be replaced sooner or later.

So how do you know when it’s time to replace your carpeting? Consider the following signs:

Your carpet has rips and/or tears in it. This is a sign that your carpet should be replaced. While some carpeting can be repaired, this usually depends on the severity of the damage. Big tears are usually a sign that you need a total carpet replacement.

Your allergies are triggered. If you have older carpet in your home, there is a possibility that it is retaining allergens that are triggering your allergies

There are lingering odors. Pet odors and smoke can penetrate deep into the fibers of the carpet. There may be even some mildew growth if it the carpet hasn’t been properly cleaned for some time.

It’s worn bare. This may be another obvious reason to replace your carpet. If it no longer has that soft, plush feeling, it’s more than likely worn to the point of needing replacement.

The carpet is older than twenty years. According to experts, you should replace your carpet at least every 20 years in order to maintain good indoor air quality.

 

 

The Changing World of Refinancing

In the mid 2000's, getting a mortgage was a whole lot easier. Back then, borrowers were not required to have a good credit history. Even those who couldn't afford to make a down payment could get a home loan.

The underwriting norms were rather relaxed and more people could buy homes or get their existing mortgages refinanced. Some borrowers who saw good appreciation in the value of their homes drew out some of their positive equity and splurged that money on luxury cars or boats.

But then the recession arrived.

During the recession, several people lost their jobs and consequently many of them had to default on their mortgage payments. The value of properties, too, eroded. This forced banks to become more cautious and selective. Now getting refinance is not all that easy. Serial refinancing has become a thing of the past.

Recovering economy

The economy soon started showing signs of recovery and many people who lost their jobs during the recession are back to work. The value of homes, too, has increased. This has encouraged banks to relax their lending norms a bit. Now homeowners who are underwater on their mortgage payment are eligible to get refinance if the value of their home is slightly higher than their original loan amount. Even owners with negative equity are now eligible for refinance through HARP 2.0.

If you are planning to get a refinance, you should be prepared to deal with a lot of paperwork.

Refinancing now

Refinancing your existing mortgage is now difficult. It is still possible, but now banks have more stringent underwriting norms. Gone are the days when they would readily approve each and every application.

More paperwork

Refinancing now involves a lot of paperwork. Banks now require detailed documentation of your income because they are legally responsible to prove that you will be able to repay the loan. As a result, the borrower now has to submit additional documents like tax returns, pay stubs and bank statements.

Your credit score

Ten or 15 years ago, people who had little or no credit were eligible to get a home loan.  But now you need a good credit score. If your credit score isn't satisfactory, you should improve it before trying to get refinance. You should also get a credit report. There may be errors or inaccurate information in it. Your credit score will improve when you get those errors rectified.

Borrowers should also have a good idea about the value of their home.

Longer waiting periods

Now that rates are at their historic low, lenders are getting flooded with numerous home loan applications. Consequently, getting an approval now takes much longer. You can, however, speed up this process by responding quickly to document requests. Any delays on your part can cause your rate lock to expire. You will probably have to pay extension fee as well.

If you are paying too much interest on your fixed-rate mortgage, you are a good candidate for refinancing. When you refinance, you get to enjoy the lower rates. While choosing a refinancing deal, don’t forget to compare rates and fees. To get the best possible deals, you need to stay abreast of the latest happenings in the world refinancing.