Strategies to Help Save Energy in Your Home

With the price of oil on the rise - let's be honest, with the price of everything on the rise - these simple strategies to help save energy in your home will help when having to make difficult decisions in your household budget. One of the smartest strategies to help save energy in your home is lowering your thermostat when you go to sleep and when you're away. Start with a comfortable setting of 68 F, then turn it down by 10 degrees on your way out. Save on your peace of mind, too, by installing a programmable energy-saving thermostat. Most are priced under $100 and will pay for themselves within one year of proper use.

• Avoid the Draft with Weather Stripping on Your Doors and Windows

 How many times have you walked by a closed window or exterior door and felt a tiny bit of air rush in? Those little bits add up to a lot of heat rushing out in the course of a year, and more during harsh winters. Covering them up is one of the best strategies to help save energy in your home. It's also one of the least expensive. A 10 foot roll of weather stripping costs under $10. For less than $50 or so, and within a couple of hours, you can avoid heating the outdoors.

• Clean or Replace Air Filters Regularly

Another one of the low-cost strategies to help save energy in your home is monitoring the wear and tear of your air filter. Do this throughout the year, not only during high-use seasons of summer and winter. A clogged filter will make your heating/cooling system work harder, so the roughly $20 to $50 you spend on a new filter is well worth it. You can avoid even this minimal expense by cleaning the filter frequently.

• Invest in Insulation That's Good for Your House and Health

There are always going to be costly strategies to help save energy in your home. However, depending on how long you plan to stay where you are, they could pay for themselves over time.
If you're fortunate enough to have a little extra cash on hand, one of the most cost-effective strategies is to invest in proper insulation. If you still have home insulation used in the 1920s, it's high time for you to upgrade!
Considering insulation is sealed in walls and ensconced in attics and crawl spaces, you might be surprised at how it can deteriorate over time. A combination of moisture and animal waste (the smallest holes provide a damp breeding ground for the tiniest creatures) over the years can do a lot of damage. You'll also find that today's materials are far more efficient than what you may currently have.

21 ?'s for your realtor when buying your 1st home

When it comes to purchasing your first home, buyers need to remember that their realtor is there to help ease the process and should take advantage of each opportunity to learn from them. Similar to a lawyer or any other consultant, a realtor is your advocate and counsel for the duration of the home buying life cycle, from the home search to close of escrow.

At a minimum, these are some of the most common questions to ask a realtor when buying your first home:

1) Is the listing price in line with market value?

2) What is a fair offer on the property based on recent comparables?

3) How long has the property been on the market?

4) How motivated is the seller?

5) What price did the seller pay for the home?

6) What is the age and condition of the property?

7) How many people have owned the property?

8) What items are included in the sale (e.g. appliances, window coverings, etc.)?

9) What are the annual taxes?

10) Is there a monthly or quarterly HOA?

11) Is the current owner up-to-date on payments?

12) How quickly can the property close?

13) Has all work on the house been completed with permit and to code?

14) What schools is the property zoned for?

15) Is there much crime in the neighborhood?

16) What type of utilities does the home require (e.g. oil, gas, septic, etc.)?

17) Who do you recommend to perform the home inspection, and why?

18) Which title company do you recommend, and why?

19) What is your relationship with the listing agent?

20) Do I need to be pre-qualified to write an offer?

And most importantly:

21) Is there anything you need to tell me that I haven't already asked?

Although a list of 21 questions may seem like overkill, when it comes to buying your first home, you can never be too informed. Realtors are people too and, regardless of how celebrated or highly recommended they are, they can forget to mention important details as easily as any other. As the buyer, it is your responsibility to ask the right questions and be as knowledgeable about the home as possible.

At the end of the day, you want to be comfortable that you made the best decision to purchase your new home. Your understanding of the property and transaction will greatly determine your confidence and satisfaction level with your decision - so don't hesitate to fire away with the questions (and be sure to take notes)!

Three Classic Mistakes of First Time Home Buyers

As an HGTV-addict, I sometimes want to shout at the featured homebuyers on shows such as Property Virgins, "ignore the light fixtures, they can be easily replaced!" or "don’t pay any attention to the paint color, you can fix it in an afternoon!" and "listen to your home inspector when he says that water damage could indicate serious problems!" Homebuyers, especially those with little experience, are prone to making all kinds of mistakes, from ignoring catastrophic problems (water damage) and obsessing about details that barely matter (wallpaper). Today, with low housing prices in many areas and equally tempting interest rates, more newbies are being lured into the market. First-time buyers now make up 45 percent of the market, up from 34 percent in 2007. But are they equipped to make the right choices? Here are three classic mistakes they make:

1) Being turned off by problems that are easily fixed. Did you know that almost nine in ten first-time home buyers are looking for move-in ready homes? Other first-time buyers want to live near shops, their work, and highly-rated schools. While location isn’t negotiable, many smaller fixes are, such as a dirty carpet or scratched up hardwood floor. Buyers sometimes focus on things like carpet, but that’s really a renters mentality, they forget that they can make all these changes themselves. Buyers should be asking their real estate agent for help understanding how costly fixes will be, and to grill the home inspector, as well. 

The lesson: In this buyer-friendly market we are in now many first-time buyers can satisfy their high standards.  High standards can work to your advantage, but don’t forget that some fixes are relatively easy (and cheap), such as cosmetic makeovers.

2) Overlooking hidden costs. Home ownership brings a bunch of different expenses, from closing costs to appliance maintenance to homeowners insurance.  Homes might not be as cheap as they look, especially if you buy a distressed property that hasn’t been well-cared for in recent years. Home maintenance typically costs one to three percent of the purchase price, which is as much as $9,000 a year on a $300,000 home.

The lesson: Since there are bound to be plenty of unexpected costs during that first year of home ownership, leave plenty of room in your budget to absorb the extra expenses.

3) Failing to budget for DIY-projects. Not so long ago, DIY (do-it-yourself) television shows let first-time home owners believe that anyone could fix-up their home. More recently, the art of fixing up houses has fallen out of favor, and the reason appears to be financial. The DIY (do-it-yourself) home improvement market has fallen 21 percent in the last 10 years.  While about one in four would-be-DIYers say they want to start on a major renovation, they simply can’t afford it right now.

The lesson: When purchasing a home, reserve some cash for needed DIY projects during the first year of home ownership.  Padding your budget can prevent late-night panic attacks when the dishwasher starts leaking all over your new floor. 

Life & Times In Colorado Real Estate: A few tips for homeowners selling a family home

Life & Times In Colorado Real Estate: A few tips for homeowners selling a family home: "Be honest about the reason you are selling . If it is financially related, don't be afraid to admit the need to downsize. If it's for more ..."

A few tips for homeowners selling a family home

• Be honest about the reason you are selling. If it is financially related, don't be afraid to admit the need to downsize. If it's for more space or a shorter work commute, be clear on why that is important to you and how it will benefit the family unit as a whole. The better you communicate the need to move, the more your family will understand and have the ability to adjust to the news.

• Invite questions and feedback from family members. Allowing children and other dependents to participate in the conversation about selling a family home is a crucial component to gaining their support. By encouraging them early on to express their emotions, selling a family home can be a much smoother process. If they seem upset by the move, find out why and address the issue sooner rather than later. Also, keep in mind that the average time to sell a home is nearly 10 months, so in many cases you will have time to ease them into the idea of moving.

• Emphasize the importance of family versus material possessions. If the reason for selling a family home is to downsize or save money, be sure to emphasize that you have their best interests at heart and that the family unit is more important than any material possession or physical location.

• Find out what is important to your family in a new home. Be sure to invite ideas from family members on what would make them happy in a new home. If family members feel like they are contributing to the decision-making process and have more control, they will be more likely to adjust to selling a family home and may even have something to look forward to.

Selling a family home can raise difficult emotions and be a tedious or even torturous process, depending on how well you communicate the change with your family members. With these few tips in mind and the right amount of support, your home sale can put the past in the past and leave you excited for what the future has in store.