What if you could save money and make money at the same time? With the right home improvements, you can. Lower your utility bills and increase your home’s resale value in one fell swoop when you make smart energy-saving updates to your home.
If you’re investing in renovations this year, make sure these three money-saving upgrades are on your radar:
- Replace your windows. Over time, window frames loosen, allowing air to flow in and out of the home more easily. Consider replacing your older windows with new, double-paned ones to cut down on drafts.
You can even opt for tinted windows to reduce the energy needed to cool your home, possibly saving you hundreds of dollars each year. This has the added benefit of refreshing your home’s look, making it more appealing to future buyers, who might in turn make a larger purchase offer.
- Switch to Energy Star-approved appliances. These use less water and electricity, and are designed to operate more efficiently on the whole. Energy Star offers rebates on particular products, saving you even more money.
Another plus? Green certified homes with Energy Star appliances may sell quicker and for more money than comparable homes that are non-certified.
- Add more insulation. Upgrading the insulation in your home helps keep inside air from escaping and lowers your energy bills. You can also use spray foam insulation in smaller areas, like walls, crawl spaces or around ducting.
In addition to these improvements, make sure to learn about any green tax credits, rebates or utility discounts you can receive in your area. Municipalities and utility providers often offer incentives to homeowners who make energy-efficient upgrades to their properties. Those programs can help you save even more.
Finding the right home is only the beginning of your homebuying journey. After that, you’ll have to make an offer — one that both protects your interests as a buyer and helps you stand out from other bidders.
That last part is especially important if you’re buying in a seller’s market, where housing inventory is low and buying competition is high. Want to make sure you make the right offer and snag that dream home? Here’s what you’ll need to know:
- Tap into your agent’s expertise. Your real estate agent can research the local market for pricing, the number of active listings and more. Being informed about comparable sales can help you make a competitive offer.
- Make the right earnest money deposit. Earnest money is used to protect the seller if you back out of the deal. The more you offer, the more confidence they’ll likely have in your bid.
- Consider your contingencies. Contingencies can be written into the offer to protect your interests as a buyer. But note that a seller’s market may not be suitable for contingency offers.
- Factor in renovations and repairs. Is the house going to need major repairs before you move in? Factor these expenses into your offer and adjust the price as necessary.
It is possible to make your dreams of homeownership a reality. But keep in mind that you’ll need to have your financing in order before you make an offer on a home.
If you’re starting your homebuying journey and need financing, reach out today.
If you’ve got a mortgage, you probably want to pay it off sooner rather than later. But how do you do that when you’re busy just getting by? More importantly, how do you do it while also saving for the future?
It takes the right planning, tools and mindset. But paying off your loan and saving for retirement at the same time is an attainable goal. Start with these steps:
1. Use windfalls strategically. Are you expecting a bonus or a big tax refund? Don’t spend it all on new clothes or a fancy vacation. Instead, use that windfall to get one step closer to your goals. Put at least some of the money in a high-interest savings account, or use it to make an extra mortgage payment.
2. Make realistic savings goals. Everyone would love to have millions in the bank, but that isn’t always possible. Instead of shooting for the stars, set realistic, incremental savings goals. That way you can reach them while still supporting your household.
3. Create a budget. Planning where your money goes ahead of time can be super useful. You should create an overall budget, mapping out how much to spend on items like entertainment and groceries. Again, make sure the budget is reasonable for your family’s needs.
4. Find helpful tools. You don’t have to go it alone. Money-saving tools and budgeting apps can help you cut costs and save more. Best of all, they’re conveniently available on your phone.
When it comes to saving and paying off debts, staying the course is crucial. And you might even be able to make it easier by refinancing your mortgage. Reach out today for more information.
Versatility is often crucial in home furnishings. You never know when you might need to move a piece or rearrange your whole layout at the last minute to accommodate guests.
So take a step back and assess: How versatile are your home furnishings? If they’re lacking in flexibility (or if you’re planning to furnish a new house in the near future), make sure to work these multipurpose pieces into the mix:
Side Tables: A pair of side tables gives you a place to set drinks in the living room. But they can also offer quick, easy and accessible storage, keeping your space from getting messy and cluttered. You can use side tables to hold your belongings next to your bed too.
Simple Dressers: Use them for clothes, linens and blankets in a bedroom or hallway and for towels in the bathroom. You can hide a dresser in the closet if you’re not keen on their aesthetic but still need the storage space.
Slipper Chairs: These simple, upholstered pieces are lightweight, easy to move across the house and great for entertaining. Pick a neutral color so it won’t throw off your design scheme when moved around. They can be kept in the bedroom, living room or dining area.
An Ottoman: It can be used as a footstool or seating in a gathering space. Get one that can also serve double duty with storage capabilities. Opt for one that can be used as a coffee table to really make the most of this piece.
When you’re buying new furniture for your home, think beyond its initial and immediate use. Could you move it to other areas of the house? Those are the furnishings worth investing in.
Do you need help financing a home makeover? Have questions? Get in touch today.