12 Things You Can Sacrifice To Save On A Home: Tips 4-6

Many homebuyers begin house hunting with a list of must-haves. This is particularly true for first-time buyers who have heard that theirs is a buyers market. I've notice that my younger buyers really expect a lot, then they're disappointed with what they find because they had read that the market's terrible. In many markets, the best homes for sale are now getting multiple offers and selling quickly. But even in a market where a buyer can definitely get more for his money, why should he pay for things he doesn't need? Just because you can afford to buy a 10-bedroom, 12-bathroom home with separate butler's quarters doesn't mean it's a good idea. Wouldn't you rather spend that extra money on something else? It's good to know what your deal-breakers are when you're looking for a home, but you should also be realistic about which things you don't need. Consider these 12 possible sacrifices, and then decide which you can give up to find a less expensive house that won't make you regret your purchase. In today's blog I will examine sacrifices 4-6

4. Extra or master bathroom

Some buyers will insist on having an extra bathroom in the house "for when we have guests come." But when I ask how often guests visit, they admit it's "not that often." Buyers also insist on having master bathrooms, there are a lot of older homes that weren't built with a master bath. Instead hey usually have a nice large hall bath, and you can always add a master bath. Buyers also worry about resale. Will it be hard to sell a home if it only has one bathroom? Or even two? If it's priced appropriately, you'll sell it anyways.

5. Number of bedrooms

A lot of first-time buyers are looking for homes with four bedrooms. For one thing, homes that are listed as having three bedrooms may have an extra room that isn't classified as a bedroom, maybe because it doesn't have a closet. That space could be used as a guest room or office and meet the buyer's needs. Just as the extra bathroom for guests may be an unnecessary expense, forking over that extra cash to have a guest room for the occasional in-laws or college friends may not be worth it. Put guests in a child's room for a few days; kids love sleeping bags on the floor. Or buy a comfortable futon and let your office do double duty once or twice a year.

6. Garage

Buyers are just as stubborn about garages as they are about fenced yards and that many refuse to look at homes that don't have a garage. In some parts of the country, a garage is a need. But if you're dead-set on a three-car garage simply because you want the extra storage space. A detached storage building is a fantastic, inexpensive option instead of a garage, he says. So maybe a one-car garage will meet your vehicle needs, and you can look elsewhere for a place to stow that sports equipment and lawn mower. That's called compromise — and savings.


Next blog sacrifices 7-9

12 Things You Can Sacrifice To Save On A Home: Tips 1-3

Many homebuyers begin house hunting with a list of must-haves. This is particularly true for first-time buyers who have heard that theirs is a buyers market. I've notice that my younger buyers really expect a lot, then they're disappointed with what they find because they had read that the market's terrible. In many markets, the best homes for sale are now getting multiple offers and selling quickly. But even in a market where a buyer can definitely get more for his money, why should he pay for things he doesn't need? Just because you can afford to buy a 10-bedroom, 12-bathroom home with separate butler's quarters doesn't mean it's a good idea. Wouldn't you rather spend that extra money on something else? It's good to know what your deal-breakers are when you're looking for a home, but you should also be realistic about which things you don't need. Consider these 12 possible sacrifices, and then decide which you can give up to find a less expensive house that won't make you regret your purchase. In today's blog I will examine sacrifices 1-3

1. Square footage

Most buyers want more space than they need, so ask yourself whether giving up a formal dining room or few feet in the living area is going to significantly affect your lifestyle. Buyers who dream of a 6,000-square-foot palace need to remember that every square foot comes with a price, one of the primary factors to base a list price on is square feet, so only purchasing those square feet that a buyer will use will help their bottom line. Plus, they will save on not having to heat, maintain and furnish that extra space.

2. Yard size

Many buyers, particularly men, want a big lot and a large yard, but in suburban areas getting that land costs disproportionately more. Plus the work required to maintain a yard — mowing, fertilizing, trimming and planting — and how much time and money it will take should be a major factor in ones decision. Some buyers may want that large yard so their children have a place to play, but kids don't really play in the backyard as much as they once did. No a days they all go to soccer and all these other places to play. As long as the backyard is level, so you can see where your kids are when they do play in the yard, then it doesn't have to be a huge space.

3. Fenced yard

A fenced yard is often on a buyer's want list, but a fence is an easy and often inexpensive post-purchase addition. Many buyers don't want to even consider homes without fences, I suggest to look at a few homes in their price range that don't have fences but do have more interior upgrades, you'll come around to the idea of adding a fence later.

Next blog sacrifices 4-6

Nice Curb Appeal For Your Home With Some Early Spring Gardening

March may find you sighing with impatience as you watch yet another snowfall cover your barren container boxes, but it's one of the most important months for gardeners.

Tool cleanup
If you didn't do so in the fall, it's time to give your lawn mower and other tools some tough love.
Get ahead of the spring crowds by dropping off your lawn mower now to have the oil changed, bolts tightened and blades sharpened.  Remove soil from your tools' metal parts using sandpaper or a hose.

Lawn doctoring
The green, green grass of home doesn't get that way by accident, and March is a perfect time to assess your lawn's health.  Pluck a 4- to 5-inch square from your yard to see what's going on down there.  Fertilize your lawn now or start a new lawn using seeds or sod.

Weeding
There's always the battle of the weeds. The only way to win that fight is to keep at it. Nip weeds at the bud — literally, for if they're allowed to flower and go to seed, you could be looking at several years' worth of uninvited guests: Some weeds shed 10,000 seeds at a pop. 

Preparing soil
Once your soil has had a chance to thaw and lose some of its winter moisture, you'll want to prep it for planting.  Remove mulch over the course of several days, exposing the soil gradually.  Till or spade soil six to 12 inches deep.  Mix in compost, peat moss and fertilizer for plants or vegetables. For vegetable gardens, include processed or well-rotted manure in the mix (using fresh manure in the spring may burn or damage your plants).  Rake the soil level to smooth out low spots; pockets of water can make the soil cool, which slows plant growth.

Vegetables
Start planning your vegetable garden, keeping in mind the following guidelines.  Choose neighboring vegetables carefully and you may as much as double your vegetable harvest. Onions, for example, are no friend to peas and beans but make good bedmates for tomatoes, strawberries, lettuce and beets.  Later in the month (in most zones) you can seed or set out hardier vegetables, such as chard and Brussels sprouts.

Slug control

As tender shoots start to poke up in the spring, they make a beggar's banquet for slugs. Plan your counterattack before young plants become young nubs.  As with much garden damage control, natural methods are growing in popularity. One simple approach is to sprinkle slugs with salt, which causes them to dry up.  Slugs are attracted to stale beer, which you can leave in a shallow dish or bowl; slugs will enter and drown.  If you use a commercial slug bait, read the label carefully to be sure it won't endanger children, pets or birds.

Fun for kids
Kids love to help with simple growing projects or to have plants of their own to watch and care for, especially if growth is rapid (remember those pint-size attention spans).  Kids love watching plants grow from seeds. Beans, peas and parsley all grow quickly in pots, and seeds can be set in fun shapes or kids' initials.

For the birds
Find out who's likely to fly over for a visit in the next month or two, and target bird treats and feeder types for their individual tastes.  Most bird species will go for either oil-type sunflower seeds or white millet (offered separately), but sunflower-seed munchers tend to prefer elevated feeders with perches, while millet lovers usually prefer ground or large platform feeders.

Winter Real Estate It's Not As Cold As It Looks

Not everyone out there is watching the amazing run Tim Tebow is having some people are looking for houses.  The fall home-selling season is a lot like the college football season — both normally end around Thanksgiving, but a smaller postseason keeps going long after that.  It used to be that spring and summer were the hot times to buy or sell houses, but people are much more mobile now. If you want to sell your house these days, you don't necessarily have to wait until spring to put it on the market.  True, most would-be homebuyers and sellers in colder climates still call it quits from late November until late February or so.

• But how can a would-be seller attract a buyer when there's ice on a home's walkway, snow covering the flower beds and little natural light to make a place look bright?  Here are five things homeowners must do if they want to heat up the chances of selling a property this winter:

1. Set a realistic price
House hunters expect discount prices in the winter, because they know that any homeowner who lists a property during the period really needs to sell. So sellers should list their homes at realistic prices to begin with.  We've been in a buyers market for so long now in most of the country that buyers are trained to lowball.
2. Advertise with snow-free pictures
If possible, you or your agent should try taking photos before it snows. If that's not feasible, take photos the first time the snow melts — even if it's just a brief winter thaw.
3. Maximize curb appeal
You always want your home to have good "curb appeal" — a nice appearance that's apparent from the moment a would-be buyer pulls up to the curb — but winter snow and gloom make that tough. To make the most of your home's wintertime look make sure all autumn leaves and any dead tree branches are gone. Keep your home's driveway and paths free of snow and ice and put a nice, clean doormat in front.
4. 'Stage' the interior for winter
A good real-estate agent or professional home stager can help you make your home's interior look warm and friendly no matter how dreary it is outside. Baking cookies or an apple pie shortly before house hunters arrive. This will give your home an inviting smell when would-be buyers come in from the cold.
5. Have good interior lighting
You always want your home to look as bright as possible to potential buyers, but sparse winter sunlight can make that a real challenge. Maximize all available lighting by having your home's windows professionally cleaned — inside and out — before you put your place on the market. Don't forget the storm windows.  Also consider replacing 40-watt bulbs with 75- or 100-watt versions — and put all lights on before every showing.

10 Remodeling Projects To Bring Value To Your Home

Top 10 projects

Here are Remodeling's top 10 projects. You'll notice that these are not ambitious, vanity jobs. All are projects that replace worn or aged home components, bring parts of the home up-to-date or add living space without expanding the home's footprint:

1. Replacing exterior siding with upscale fiber cement. Siding pays back a whopping 78%, on average, of the $13,461 average cost. The most cost-effective thing you can do to your home this year is to replace old siding with new, higher-end fiber cement.
2. Replacing an entry door with a midlevel 20-gauge steel door is an inexpensive upgrade at $1,238 on average, but it pays back 73% and greatly improves curb appeal.
3. A midrange attic bedroom remodel involves popping out a dormer for a 5-by-7-foot bathroom with shower, insulating and finishing the walls and ceiling, adding four windows, extending the heating and air conditioning and improving wiring and lighting. The payback is 72.5% on the $50,148 expenditure. More living space is being sought as adult children are driven back to their parents' homes by the shaky economy and as older parents join the households of their adult children. An attic remodel is the cheapest way to add space and a bathroom within the house. A basement remodel is the next most cost-efficient way to add living space, although code requirements for headroom and exterior doors make that project more complicated and more expensive
4. A midrange minor kitchen remodel paid back 72.1% of the $19,588 investment. Included are new laminate countertops and new sink, faucets and appliances. The floor is untouched and cabinets are kept in place but refaced with new hardware added. In today's tough times, kitchen and bath remodels are pale imitations of the lavish vanity projects from the housing boom. Most consumers are shunning the expensive spa baths and chef's kitchens that involve moving electrical services, plumbing and walls.
5. A midrange garage door replacement may not be high on many wish lists; it's one of those jobs that you do because it's needed. But it adds curb appeal and function, and it pays back 71.9%, on average, of the $1,512 average cost.
6. A high-end garage door replacement recoups almost as much: 71.1% of the $2,994 average cost.
7. A new wood deck earns back 70.1%, on average, of its $10,350 cost at resale this year.
8. New foam-backed vinyl siding replacement keeps the house warm and pays back 69.6% of its $14,274 average cost. The average project involves 1,250 square feet of siding, including trim.
9. New midrange replacement vinyl siding upgrades the look of the home and pays back 69.5% of the $11,729 average price.
10. Upscale vinyl replacement windows have a 69.1% payback on the $14,328 cost. The project involves replacing 10 double-hung 3-by-5 windows. The new windows are low-emissivity glass and are insulated with simulated wood-grain trim.

First-time homebuyers use internet but still depend on agents!

Homebuyers, including first-time buyers, usually use the Internet for the preliminary work of finding homes for sale and collecting information on neighborhoods and recent sales. But those buyers, particularly if they are first-timers, often use real-estate agents to identify long-term value in properties, negotiate prices and ensure that deals go through.

Functions of real-estate agents
Many first-time homebuyers will not be purchasing their dream home as their first place, and often have difficulty seeing the true value in homes.  Many of these same buyers will be moving in the future so it is a good idea to think about resale when the buyer is purchasing. Buyers may not be aware of things like the problem of living on a busy street, or know to check on issues with homeowner-association covenants.


A real-estate agent can point out potential issues that could affect the resale price of a home and suggest small changes to increase the home's value.  When I'm showing a house that absolutely does not work, I dig into why it doesn't work. When we see other houses that may be a better fit, we discuss what does work for them and why.  First-time buyers should rely on their Realtor to provide them with data about comparable homes that have sold, how long a home has been on the market, what homes haven't sold and all the activity that has been happening in the local real-estate market. Ultimately, it is the buyer's decision what price and terms they wish to offer. However, buyers should be able to rely on their Realtors to guide them toward an educated offer on the home.  Negotiation occurs not only at the beginning of a transaction over price and terms, but also possibly after a home inspection, an appraisal and at other times between contract and closing.

Keep it in the family?

Purchasing from family can cause friction between relatives from the early stages of negotiation until well into home occupancy. Jealousy from other relatives, buyer remorse and resentment are just a few of the issues that may wreak havoc on family relationships. While these are all common downsides of business transactions, it's important to remember when doing business with family that the business relationship often carries over into personal relationships. If you're considering doing business with family, make sure both parties are aware of these potential pitfalls and understand the risks before entering into a purchase agreement.
Now that you have a clear understanding of the benefits and risks of buying a home from a family member, here are a few tips when buying from a family member:

Ensure mortgages are current If the home is still financed, be sure that the mortgage payments are in good standing. The last thing you want is a lien put on the home when you are trying to purchase it.


 Seek legal advice Make sure you have a lawyer look over all of the paperwork, including the offer, any counter offers and your purchase agreement. They will likely catch something you or your Realtor may have missed, and make certain the appropriate verbiage is in your contract to protect your property investment.
Once you've covered all of your bases, including understanding the risks, benefits and best practices for purchasing a home from a family member, you can be well on your way to entering into an agreement that meets both you and your family's needs. 

Use a REALTOR®  Many realtors are experienced in dealing with sales between family members. If this is the first time you are buying from a relative, your Realtor will be able to ask and answer the right questions for you to make sure your sale goes smoothly.

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)!