Be More Prepared for Your Home Inspection

A professional home inspection is possibly even more important in a tough housing market. However, selecting a trained and experienced inspector is just the first step in maximizing the benefits a home inspection brings...(More)

What Should You Do When a Home Doesn't Sell?

When a home doesn’t sell, the owner has four options: take it off the market and continue to live there; sell the home at a reduced rate; rent it out; or leave it vacant while they move on. Which is the best choice?...(More)

Develop an Optimistic Outlook

Expecting bad things to happen can have a negative impact on your health – and your life. By developing an optimistic attitude, you can train yourself to improve relationships, grab promising opportunities, and find greater peace in your life...(More)

Conserving Water Saves Money and Natural Resources

Only 2.5% of the world’s water is drinkable. According to a study by the Global Environment Facility, supply is shrinking while demand for water continues to grow with the world’s population. Conserving water isn’t just good for your budget; it’s good for the world...(More)

Be More Prepared for Your Home Inspection

A thorough and professional home inspection helps everyone involved in the real estate transaction proceed to closing with greater confidence. In a time when everyone is concerned about the value of their home, it makes more sense now than ever to have one – especially before a home goes on the market.

Every home inspection has value, but you can increase that value with just a little active involvement.

Before the Inspection.

Make it easier for your home inspector to do his or her job by removing clutter that could block access to the attic, basement, garage, or outbuildings. If you have time, give your home a thorough cleaning so the inspector is better able to focus on structural issues instead of being distracted.

Immediately before your inspector arrives, be sure all your appliances are properly connected and the water is running. Put pets in confined spaces so they won’t get in the way. Be aware that some inspectors actually inspect the exterior of a home before ringing the doorbell.

During the Inspection.

If the inspector was hired by you as a seller or buyer, follow along through the process. Ask as many questions as you wish. A good inspector will welcome your involvement and you may gain invaluable information about your home.

If you are a seller and the buyer has hired the inspector, give them plenty of privacy. In fact, it’s best if you can leave your home while the inspection is taking place so the buyer and inspector can communicate openly.

After the Inspection.

If you purchased your inspection as a home seller, study it carefully to determine if there are repairs you want to make before putting your home on the market. If you do this, be sure to keep any paperwork and receipts associated with the repairs, so home buyers will know you corrected problems in the report.

You could also consider an adjustment in the price so potential buyers won’t mind making the repairs themselves. If you decide to go this route, get repair estimates in advance and make sure potential buyers know you have done so; consider those costs when pricing your home.

As a home buyer, the report gives you a record of the home’s condition at the time of the inspection. It is important to remember not to get hung up on small problems, especially in older homes – no home is perfect. Keep the inspection report on file and use it as a benchmark for maintenance as you enjoy your home for years to come.

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For most people the option of paying the mortgage, taxes, insurance, and maintenance on an empty house, is not a viable option. Plus, many people who are trying to sell a home don’t have the option of “giving up.” They have to move for their job or other important reasons.

Often the decision comes down to whether to rent or reduce the price; it’s a tough decision with pros and cons on both sides.

• A rented home has to be move-in ready: fresh paint, clean carpet, everything in working order, and sparkling clean. Renters don’t expect to do more than put their personal belongings in a place. This could mean a lot of work and expense. Would the home sell if that same work went into preparing it for sale?

• All the work that goes into a home to get it ready to rent will most likely need to be repeated when you decide to discontinue renting. A security deposit may cover most of the costs, but will it cover everything?

• If a home for sale has been lived in for two of the past five years by the seller, significant capital gains can be enjoyed tax-free. Rent a home out for more than three years, and these gains become taxable unless you move back into the home for at least two more years.

• On the other hand, if a home is rented out, all the costs related to that rental – from maintenance, to mortgage, to the gas used picking up rental checks – are deductible. You can even depreciate the home over the time it is rented. To get a full understanding of the pros and cons of depreciation, seek the advice of an experienced CPA.

• If you decide to manage the rented home yourself, you could get calls at any time of day or night for emergency home repairs. To avoid this, you could contract with a professional rental property manager. Depending on the arrangement you make with this service, you may not have to do anything but receive your rental check – less their fee, of course.

• One other issue to consider is the possibility of a bad tenant – someone who doesn’t pay the rent or needs to be evicted. Eviction is a complicated and costly process and can place a substantial financial burden on the homeowner.

Ultimately, the decision rests on many complicated issues. It’s best to determine both the likely sales price and the likely rental rate, then sit down with a CPA or another professional who can go into great detail about all the tax risks and advantages of either option.

As one of the largest investments most Americans make, any decision about your home deserves careful consideration.

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The phrase “mind over matter” has a lot of validity when it comes to facing life as an optimist or a pessimist. Your attitude can make a big difference in every aspect of your life. Here are some suggestions to help you gain a more positive outlook on life:

• Make a list of all the things you have to be thankful for. Don’t overlook things like friends, family members, health, shelter, food, or other things you might take for granted on a daily basis. If your list isn’t very long, you need to try harder. Don’t forget your sight and other senses, and remember things of beauty and joy, even if they were fleeting.

• Use affirmations. Write out a series of short, positive statements about things you want to accomplish or need to believe to be more optimistic. Put them where you can see them often and repeat them aloud five or more times a day. Some examples are: “I bring great value to everything I do.” “I spend my time wisely.” “I believe in myself, and so do others.” Your affirmations should reflect your particular situation.

• Remember, that every minute of your life counts and shouldn’t be wasted with negative thoughts. Pessimism tends to lead to indecisiveness, which wastes time and causes stress.

• Don’t accept the role of victim. No one can put you in that position without your cooperation. You have the right and the ability to refuse to be anyone’s victim.

• Smile more. Having a happier face makes you feel better about yourself and the future.

• Try to find a good aspect in every bad situation. This “every cloud has a silver lining” approach might deal with trivial matters, but just recognizing those trifles can change your attitude.

• Determine something specific that you want to accomplish. Write that goal down along with a list of the benefits you will gain when you reach it. Review this list every day. By reminding yourself of this goal every day, you’ll subconsciously start to make changes that will help you reach it.

The next step is to enjoy your life to the fullest every day!

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Conserving Water Saves Money and Natural Resources

There are literally dozens of changes you can make to save water around the house. Here are a few of them:

• Insulate hot water pipes to get hot water faster and avoid waste while you wait for the hot water to reach you.

• Only run clothes or dishwashers when you have a full load. Use the shortest possible cycles and make sure water levels are set appropriately.

• Don’t wait to repair dripping faucets – one drip a second adds up to 2700 gallons a year.

• Don’t use the toilet to get rid of tissues, bugs, or other things that could be thrown in the trash.

• Turn off the water when brushing your teeth or shaving.

• Install low-flow showerheads and shorten the length of time you spend in the shower.

• When taking a bath, don’t let the cool water run down the drain; let the later hot water warm it up.

• If it takes a long time for water to warm up in the shower, keep a bucket or watering can handy to capture it before it goes down the drain. You can use that water for houseplants, cleaning, or in the garden.

• Instead of washing dishes under running water, fill a sink or dish pan with warm, soapy water to clean, then quickly rinse dishes under a light flow of running water.

• Determine if your home has unknown water leaks by checking your water meter when no one is using water. Check before and after a period of two hours or longer. An easy way to do this is to check right before everyone leaves the house, then recheck the meter upon return. If the meter shows some water use, you have a leak that needs repaired.

• When washing your car, park on the grass so the water does double duty. Be sure to use a cleaning agent that is not harmful to vegetation.

• Employ xeriscaping by using drought-tolerant plants. Plants native to your area are the best choice for surviving dry periods.

• Water lawns and landscaping with care. A garden hose can spew out 600 gallons in only a few hours. Set the alarm on your wristwatch or use a kitchen timer to remind yourself to turn off the sprinklers.

• Don’t cut your grass too short. Taller blades of grass encourage deeper roots and keep the roots better shaded for less water loss.

• Mulch beds to help hold in moisture.

For more ideas on how to save water, enter ‘conserve water’ in a search engine. You’ll be surprised to learn about the many opportunities to save water.

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