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5 Security Tips For Your Home You Should Consider

Raeann — Mon, 29 Oct 2012 15:00:00 +0000

Your home is your castle. It’s a place for you and your loved ones to feel comfortable and protected. Wouldn’t it make sense to properly protect your new home from unwelcome intruders and environmental dangers such as fire, flood & carbon monoxide? Here’s 5 security tips for your home you should consider.

Did you know that your chance of a break-in is reduced by 400% when you have a monitored security system and proper signage? This statistic is real, the insurance industry recognizes it and will provide you with a discount on your home insurance rate.

Home security systems are a necessary evil in today’s society. Years ago we could leave our doors unlocked. These days, a window left open on the main floor is an open invitation for an intruder to get in. But how do you go about when choosing the right security system that suits the needs of your first home?

5 Security Tips For Your Home You Should Consider:

Is there already an existing security system?

Great! More often than not, an existing security system can be taken over and re-activated. Sometimes, the control panel, which is the brain to the alarm system, and the keypads, need to be changed at a fairly small cost. You want to make sure to request that every existing device, such as door contacts and motion sensors are tested before they are tied in.

Choose a security provider you can trust!

How do you know which company is the right one. Trust should be the very first factor to consider. Insist on an on-site consultation. Trust your gut feeling. Do you feel comfortable that your are talking to someone trustworthy? Is there eye contact? Does the security provider have a proven track record?

Does the monitoring station know the area you live in?

Make sure the security company offers 24-hour monitoring. If the monitoring station is located in a warm climate rather than in your own province, how do they understand that a wireless contact may fail if is minus 36° outside. Consider a local security provider and ask for testimonials.

Consider a monitored smoke detector

Who is going to hear your regular smoke detector going off if no one is at home or what if you are overcome by smoke inhalation and can’t get to a phone for help. The monitoring station receiving a signal can dispatch the fire department and inform them that there a children or pets in the home to be rescued.

A security system can be much more than preventing a break-in

Ask your security consultant about environmental protection against carbon monoxide, rightfully labelled the silent killer. Let a low temperature device alert you before your pipes begin to freeze. Prevent water damage with a flood a/o sump pump detector. Perhaps you have elderly parents living with you and require a medical alert device. Will your child come home after school before you leave the office and you want event notification and remote access for peace of mind.

Make sure you choose a trustworthy security company that is willing to properly consult you on the many different options available. Don’t put up with high pressure sales people that will insist on a decision on the spot. Finding peace of mind for you and your loved ones in your new home, your very own castle, can be as easy as having a monitored security system that fits your needs.

Ulli Robson is a trusted security consultant with ten years of experience in residential & commercial security. Her approach is an old-fashioned one, she meets her clients on-site to provide solutions that will be installed on-time and on-budget. Her latest security solutions integrate your smart phone to control temperature, turn on or off lights, even view cameras right in the palm of your hand, anywhere you have Internet. As a security specialist, Ulli is focused on providing peace of mind that is simple and convenient. Contact Ulli: 780-288-2896 | SafeWithUlli.com | Twitter

Do you feel secure in your home? What’s the best security tip you have to offer? Leave your comment in the box below.

4 Simple Steps To Budgeting That Anyone Can Do

Raeann — Mon, 22 Oct 2012 15:00:00 +0000

There’s an expression that I use regularly with Clients … “What gets measured gets managed”. Meaning if you are not measuring where your money is going, you’re not managing where your money is going. With the 4 simple steps to budgeting I’m about to share with you, anyone can begin to make a significant improvement in their finances.

Budgeting is characterized as a nice to do vs. a need to do for most individuals and Families that I meet with on a daily basis. Yet in order to gain complete clarity on where your money is going, you’ve got to build and manage a realistic budget.

Think of any successful business that you regularly deal with. I can guarantee that budgeting is a predictable routine they have implemented in order to manage the business effectively. Now think of your household as your own Family business.

In fact… A budget can only have one of 3 possible outcomes. (1) A surplus, meaning when you run out of month, you still have money. (2) A deficit, meaning you run out of money before you run out of month. (3) A balanced budget meaning that every net income dollar flowing through your household was purposefully allocated by you to do something for you.

Steps To Budgeting

Here are 4 simple steps to measure and manage your budget:

Step 1 - Track your spending for an entire calendar month. And whether you pick up a stick of gum from the convenience store or withdraw cash from an ATM, get receipts for all of it. Stuff all of your receipts into a single letter sized envelope. At the end of the month, dump all the receipts onto the kitchen table, sort them by category (i.e. food, entertainment, fuel) and add them up.

Step 2 - On a blank piece of paper, write down the following expense categories.

Housing – these are your bills, the mortgage / rent
Personal – dining out, gifts, charities, smoking, alcohol
Living – food, clothing, grooming
Transportation – car payments, gas, repairs
Insurance – vehicle, house, life
Payments – credit cards, lines of credit, debts
Saving – don’t even dream about allocating dollars to this category if you are in debt

Step 3 - Calculate total net income from all sources. Allocate money to each of the above categories and prioritize paying off your debt before saving money.

Step 4 - Repeat steps 1 and 2

If you can practice 4 simple steps to budgeting for a minimum of 3 months in a row, it will become habit forming. And believe me, it’s a good habit to have.

This guest post from Jayson Lowe of McGuire Financial Group.

What’s your experience been with the budgeting? Have you learned any tricks that helped you? Leave your comment in the box below.

The Most Important Questions To Ask Your Realtor

Raeann — Mon, 15 Oct 2012 15:00:01 +0000

As a Realtor in Edmonton, Alberta I find it interesting the amount of mis-information out there in circulation. I find I constantly am educating folks on the same topics and empowering them to make powerful choices that make a direct positive impact on their future. This impact usually comes in 2 ways.

1. The direct impact of choosing a home that is going to be a right fit for their family or future family based on their budget, etc.
2. The financial impact of making informed decisions up front based on what they value as a family.

The latter of these is often the most impactful as it has a compounding effect over time (typically with money they save). You need to know what type of questions to ask your realtor. These top five questions are important as they can set the stage for the relationship with your Realtor and have a large financial impact for years to come.

Question #1

What made you get into Real Estate, and what do you like most about it? This is an open-ended, feel good question to get your prospective Realtor Talking. Most people don’t get asked questions like this that make them think. It helps you develop a relationship and learn about your REALTOR to see what makes them tick. Do they think like you do? Do they have similar values? Does their story give you any indication you would want to walk away or that you might potentially be taken advantage of? It is a great starting point to gauge the sincerity of your Prospective Realtor.

Question #2

What do you like least about being in Real Estate and working with Buyer/Seller Clients? Ahh, this is a testing question and a fun one to ask. It comes out of left field and let’s your REALTOR know that you are shopping around and you don’t want to be taken advantage off. The purpose of this question a high level gauge of their sincerity. Do you think they are giving you a canned answer or are they going to be honest with you and tell you how it is? What most people don’t know is that being a REALTOR can be very stressful and like any career there are going to be difficulties that we all meet along the way. If they give you an answer that says they never have problems and everything is superb all the time I would potentially consider that a red flag and a reason to dig deeper.

Question #3

Do you do transaction brokerage (where you represent the buyer and the seller at the same time)? For more information about this click this link to review the “Agency Relationships Guide”:

This is a conversation that every Realtor must have with their client. Not just the first time but every time they look to establish a relationship to work together in a Real Estate Transaction. This question can have a different impact depending on wether you are selling or purchasing. Here is the best way I like to relate this to folks with a simple question.
When you buy a home do you want to use the same LAWYER or a different LAWYER than the person selling the home? Would you say there is a potential conflict of interest if you used the same Lawyer?

If the answer to the second question is YES then the likelyhood is you want to work with a REALTOR that understands this and doesn’t practice Transaction Brokerage with you. Transaction Brokerage can have a few forms (refer to the guide to learn more), but the one you should care about is where one REALTOR is helping both the Buyer and the Seller in the same transaction. Although many REALTORS do this in a fair and even handed manner you always take a chance. It leaves you with the question in that back of your mind…who are they really working for me or the other guy??

It is because of how uncomfortable I am with this situation I drew a line in the sand the day I started as a REALTOR and said I would not operate my business in this manner. I will only work for one client at a time in a transaction. This has cost me a few deals along the way, but it has also raised my profile with many clients and allows me peace of mind to sleep well at night. Understanding Agency and what your options are is very important in the Real Estate transaction.

Question #4

How do you get paid? This always comes up but often at different times in the process. I would start with this early so you have no surprises. For buyers 80-90% of the time they do not have to pay anything! This means that they can have my services for FREE and get all my experience and assistance for nothing. However, for buyers it is important to know the landscape is changing. Now Buyer Brokerage contracts are extremely common. This is an agreement where you are both committing to work together for a period of time. There is usually a base amount of compensation built into the contract that takes effect after the property is sold or a minimum amount. As an example: I meet Joe, Joe asks me these great questions and we decide to work together. We setup a Buyer Brokerage agreement and Joe understands that if he buys a property where I will be compensated (most MLS listed properties) then he gets my services for free because I will be paid by the seller after closing. However, Joe and I agree that if he decides to buy a For Sale buy Owner property or one that pays less than the minimum amount we decide on he will make up the difference. This could be $2000, 4000, 6500 and so on depending on the scope of what you are doing and the work involved. Therefore if we agree on $5000 and the amount offered by the seller is only $4500 then Joe would have to come up with the other $500.

When selling a property there is an entirely different picture. Remember that everything is negotiable and there are no “Industry” standards. Also consider if you are selling a home and buying one with the same Realtor if they will negotiate more on the sale commission of the house as they stand to get 2 commissions in that process. There are many options out there today to structure compensation in a Real Estate transaction, just understand that there is flexibility and you should be clear what you are going to pay at the end.

Question #5

Do you believe in teamwork? Who do you have on your team that can help me through this process? Ok so this is 2 questions but they are in the same ballpark. Firstly I want to know if this person actually believes in Teamwork or if they like to fly solo and leave you to sort everything out on your own. The relationships your Realtor has created over life can become an extension of the Realtors Value to you. Especially in the actual transaction, having a Mortgage Broker, Realtor, Home Inspector and Lawyer that know how to work together as a team with all their focus on the success of one client is a very powerful thing indeed! Here is a just a small list of people that your Realtor should be armed with to help you and be able to connect you with: lawyers, mortgage brokers, home inspectors, property managers, handyman, electrician, plumber, drywaller, furnace replacement/cleaners, carpet cleaners, home cleaners, condo document review companies and more.

Question #6 (Bonus Question!)

Do you specialize in anything such as an area, a property or client type? This can be very helpful if you are looking for something specific or need someone with specific knowledge in an area. Be mindful though, a designation could simply provide the illusion of knowledge. As an example I do a large amount of work with first time home-buyer’s and first time investors. This wasn’t intentional; it just happened naturally. This crosses over into both Houses and Condos having equal experience in both areas. It is not area specific. If you are looking for something specific this could be helpful for you as long as you ask some additional questions and do some more digging to test the level of knowledge your “Specialty REALTOR” has in that specialty.

Once you have had a chance to ask your questions and make a decision about what Realtor you like or seems like a good personality fit for you, then tell them. Let them know that they have been chosen and that you are making a commitment to work with them. This lets the Realtor know you are serious and if they put in the effort they will be rewarded for helping you.

Finally, as a suggestion I would ask friends and family for a reference to a Great REALTOR. Don’t ask for a good one, ask for a great or exceptional one. They will have to think about it. Then ask them to give you a reason why they would recommend that person. If it’s because they are related or a family friend and they have no other back up reason then maybe it won’t be the best fit. But if you get a story about how incredible and awesome their REALTOR was, they invited him to their wedding and introduced him to all their family then you might be onto something!

To our mutual success in life and in Business,
Richard Canfield

Richard Canfield is a passionate educator who brings energy and enthusiasm for financial education everywhere he goes. Richard helps his clients discover and harness the power of the incredible Infinite Banking Concept® in Canada as a trusted advisor with McGuire Financial Group. He assists his clients in planning strategically around their Home and Investment property decisions as it relates to their overall financial goals as a family. A Speaker, Financial Coach, REALTOR, and Real Estate Investor, Richard is focused on building relationships and empowering others to create their life success.
Connect with Richard: richardcanfield.ca | Twitter | Facebook

Did we miss any questions to ask your realtor? Please leave your comment in the box below.

What You Need to Know About Mortgage Renegotiation

Raeann — Mon, 08 Oct 2012 15:00:32 +0000

In the past, it was common for mortgage lenders to charge a three months’ interest penalty to their borrowers. Now the interest rates throughout the nation are dropping. Canadian lenders are often using an Interest Rate Differential penalty. This is the larger of the two options and will give the lender the opportunity to profit. As interest rates continue to fall, it only helps the lenders charge a larger penalty to their borrowers. This is because the difference between your current rate and the market rate will grow and this will cause your penalty to grow as well.

Tips on How You Might Be Able to Lower Your Penalty Charges

If you start to calculate your penalty charges based on how the penalty will be charged by your lender, you might find that mortgage renegotiation is just not an option. This is because you’ll be required to pay thousands of dollars in fees. The easiest way to calculate your penalties is to call the lender or use tools online. You can find a very valuable mortgage penalty calculator at www.ratesupermarket.ca/mortgage/penalty_calculator to estimate how much it will cost.

Once you have a rough idea, you’ll need to consider some of the ways that you can lower the penalties if needed. One way to reduce the penalty charges is to make a lump sum payment of the fees before renegotiating the terms of your mortgage. If you have the money, you may also be able to pay down the balance on the loan to lower how much you will be penalized. These options are not always practical for people who are looking to lower their mortgage rates.

If paying down your balance is not realistic, you might want to consider the blend and extend option. This option allows you to take advantage of the lower market rates while extending the length of your mortgage term. Talk to your broker about this option when doing your mortgage renegotiation.

Renegotiating your mortgage could potentially lower your payments and the interest you are paying to your lender over the life of your loan. Make sure you educate yourself on the process, know the penalties, and decide if renegotiation is right for you.

What’s your experience been with the mortgage renegotiation process? Leave your comment in the box below.

Tips For Successful Home Improvements

Raeann — Fri, 05 Oct 2012 15:00:23 +0000

If you’ve recently purchased a home, you may be considering some improvements. While some home improvements will increase the value and appeal, others may not be good investments and end up being counterproductive. Weigh the costs in terms of time and money when considering an improvement to your home. Not only should you make sure you have the funds to cover the costs, make sure that you have plenty of time to invest into the project to finish it. Here are some questions you should ask yourself before making any home improvements:

Will the home improvements increase the value of my home when I am ready to sell the property?

Some home improvements have a long lifespan. For example, new cabinets or flooring are staples that’ll most likely increase or decrease the appeal for the next buyer. Paint, on the other hand, is an inexpensive improvement that may be easily changed for the next owner. Think about whether the home improvement will increase the value or appeal of your home for the next buyer.

Will the improvement increase the energy efficiency of my home?

When you’re ready to buy new appliances or to replace an HVAC system, try to purchase the most energy efficient model within your budget. Energy efficient appliances and HVAC equipment save you money on your energy costs over time. These items will also increase the value of your home. You might live in a region that qualifies for tax incentives for the installation of energy efficient building systems too. Check with the Directory of Energy Efficiency Programs in Canada at http://oee.nrcan.gc.ca for more information.

Could my kitchen or bathroom benefit from a few improvements?

Particularly if you own an older home, improvements to these rooms will increase the resale value. Make sure to select patterns and materials that’ll appeal to a future buyer. Try to avoid making improvements that don’t fit with the size and layout of the home. You might like a whirlpool tub in the master bedroom but if the tub doesn’t fit naturally into the space, a potential buyer might see it as a negative.

Will I recoup the cost of the improvement when I sell the home?

Many people dream of installing an in-ground swimming pool. However, the costs of installing a pool usually far exceed the money you’ll recover when you sell the home. Try to stick to improvements that’ll at least recover your investment when you sell.

Should I improve the landscaping around my home?

Upgrading the landscaping of the home tends to increase “curb appeal.” Upgrading plants, shrubs and sidewalks, and refinishing driveways will increase the value of the property. In addition, you’ll enjoy the upgrades while you own the home. Many landscaping projects are do-it-yourself opportunities and are fairly inexpensive. A little time and effort may dramatically increase the curb appeal of your home. A lot of landscaping jobs can be split into smaller projects that may be finished over a weekend. Remember that strategically placed trees and plants will also conserve energy and make your home more energy efficient.

Could the exterior of my home use a fresh paint job or a good pressure wash?

One home improvement that always increases the value and enhances curb appeal is exterior paint. Painting the exterior of the home breathes new life into the home and increases its resale value. If the home is brick or stone, pressure washing the exterior will make the home look new again.

Should I upgrade the roof on my house?

A new roof will increase the value of the home while enhancing the appearance. Many new types of roofing materials are now available, including decorative metal. You might want to consider a new roof to improve the overall appearance of your house.

Are there any benefits to upgrading insulation in my home?

Installing additional insulation will increase the energy efficiency of your home. Insulation is relatively inexpensive and a large area of insulation may be applied in a short period of time. If your home already has a layer of insulation, add additional layers to increase the energy savings. Insulation’s R-Value (the measure of how the insulation conducts heat) is cumulative. This means that if the current insulation has an R-Value of 15 and you place a second layer of insulation with an R-Value of 15 overtop, the total R-Value of the insulation is 30. The more insulated the home, the cooler your home will stay in the summer and the warmer your home will be in the winter.

Should I replace my ugly, old mailbox?

Replacing the mailbox is a simple project that may be completed in just a few minutes. An ugly mailbox, while not a major factor, can take away from the overall appearance of the front yard. Replacing the mailbox increases the curb appeal and makes your home appear more inviting.

If you’re a new homeowner, you’re probably searching for home improvement projects that may be completed in a short period of time at reasonable costs. Always keep in mind how the next buyer will perceive the improvement. Though you may keep the home for a long time, eventually you’ll sell the home to another buyer. Make sure that your home improvements increase the resale value and don’t detract from the overall beauty of the home.

What type of home improvements do you recommend? Please leave your comment in the box below.

How Safe Is Your Home?

Raeann — Wed, 03 Oct 2012 15:00:07 +0000

The process of buying a new home can be daunting, exhilarating, and intensely gratifying all at once. However, it isn’t wise to let the rush of emotion connected with this event to cloud your judgement. One of the most important things to think of and consider about your new house is the question of safety. Of course, this means more than having four solid walls and a roof that won’t fall in at the first sign of a storm, but many brand new homeowners overlook the basics. Read on to discover some tips that’ll help you answer the question: how safe is your home?

Joe Fit-It

First things first: You need to know how to take care of your new home! It’s handy to know how to perform basic maintenance tasks like fixing a leaky sink without flooding the kitchen, evaluating which pipes are vulnerable to freezing during the winter and insulating them and so on. Bigger jobs can obviously be hired out to professionals, but having a basic knowledge when it comes to maintaining and fixing your new home can save you money.

Fire Extinguishers

This one is simple – you should have at least one fire extinguisher in your home, and you need to know how to use it. If you have multiple floors/storeys in your home, then the rule of thumb is to have one extinguisher for each one. It’s recommended that you check all your fire extinguishers and/or service them annually. An easy way to remember this is to make your checks whenever you adjust your clocks for Daylight Savings Time (DST).

Smoke Alarms & Carbon Monoxide Detectors

Another simple, cheap, and effective safety measure all new homeowners should implement is to install smoke alarms and carbon monoxide detectors. These simple, low-cost devices can give you and your family a much needed head start if the worst should happen.

Carbon monoxide is especially bad; it has no odour, colour, or taste, and it’s completely invisible to the human eye. The installation of carbon monoxide detectors is often a legal requirement, so make sure you check with your local officials for information. In terms of maintenance, these devices won’t require very much, but it’s necessary to service or check them and their batteries annually (some fire departments will not only do this for you, they’ll provide free devices as well!). Make it a habit to do this when you reset your clocks and check your fire extinguishes, and you’ll never forget!

Fire Hazards

Half-full cans of paint, sheaves of paper, old bits of wood, chemicals, and other random pieces of household “stuff” can all be potential invitations to disaster. Make sure you keep your work areas clean (like garages, sheds, and so on), and when you’re done with your materials, you should either call a professional who can dispose of them safely, or else recycle them at an appropriate disposal facility. Never throw them into the garbage, as this not only hurts the environment, but it could deposit poisons into the water supply and so on.

Valuables

Not all threats to your home come from within. Robbery is a very real threat for any home owner. That’s why you should first make sure that your home is equipped with a good security system from an established and reputable company. For animal and pet lovers, a dog can often pull double-duty as a happy-go-lucky companion and a faithful guard, playing with you during the day and standing watch while you sleep. Other steps you can take include gathering your jewelry, important papers like wills and the deeds to your property, cash, and so on, and putting them in a secure location like a safe, a fire-proof container, or at the very least, a locked cabinet or drawer. The less visible your valuables are, the safer the are from theft.

With these tips, you’re well on your way to making your home a safe and comfortable place to live.

So how safe is your home? Did we miss an important tip? Leave your comment in the box below.

What You Need To Know About Home Maintenance

Raeann — Mon, 01 Oct 2012 15:00:19 +0000

It’s very important that you properly maintain your home. Failure to do so can cost you a lot of time and money that can be prevented with proper home maintenance. There are many ways that you can help yourself detect problems with your home before they become major issues. The best tip is to stay vigilant and follow service recommendations on items around your home.

Conduct A Home Inspection

The first thing you need to do is conduct an inspection of your home. Have a qualified professional do this for you before you even buy the home. An inspection will show you any issues that the home may have. A leaky roof, an old furnace or issues with the electrical system in the home will be revealed to you. If there are any issues, you need to have them taken care of as soon as possible.

The Outside Is Important Too

Don’t think that all of your home maintenance issues reside inside your home. A clogged gutter can wreak havoc on your home. Tall grass can make your home unsightly from the outside. Broken windows or vents without screens could allow wind, debris and bugs into your home.

Read Service Instructions On Your Appliances

Your washer, dryer and furnace will have recommendations on them regarding how to take care of your machines. They’ll let you know who to call if trouble arises. They should also have recommendations as to when you should have your appliances inspected. You may want to have a professional check them out once a year. Do this even if you don’t see any obvious problems. Remember that fires can start from neglecting something as simple as not clearing out lint in your dryer.

Don’t Always Try It Yourself

Doing your own home repairs can save you a lot of money. However, you may risk injury or a substandard repair. Ask yourself if you’re really qualified to take on a repair on your own. Limit yourself to basic repairs such as fixing a leaky faucet, unclogging pipes and other small projects. Never attempt to change out your electrical system or do other massive repairs unless you have the expertise. You may be able to go to a local hardware store to take classes on basic repairs that you can do around your home.

You’re Responsible For Anyone On Your Property

The biggest reason not to wait around to make repairs is that you’re responsible for what happens on your property. If anyone were to twist an ankle on a broken porch, you’d be responsible for any bills related to that injury. The same would go for anyone who was electrocuted by an exposed wire or any other injury due to faulty maintenance of your home. This is also why it’s so important that you don’t take on a repair that you cannot complete on your own. Shoddy work could also result in injury to someone inside or outside of your home.

Prevent Problems Before They Begin

You can keep bugs out of your house by lining your home with pesticide. Make sure that you’re consistently taking out the trash and getting rid of any standing water. This is a breeding ground for mosquitoes and other types of insects. Animals and bugs can destroy your home and spread disease. If you notice rodents, have an exterminator come in as soon as possible. Letting these problems linger can turn a small pest control issue into the need for a new floor, kitchen or attic.

Maintaining your home is one of the best things you can do to retain the value of your home. Take the time to deal with any and all issues that occur while you own your home. You’ll be happier, safer and more secure in your own home. This will allow you to enjoy and benefit from the investment that you have made in your home.

What home maintenance tips are most important to you? Leave your comment in the box below.

Financial Tips For New Home Owners

Raeann — Fri, 20 Jul 2012 15:00:44 +0000

Buying a home is a great feeling. You finally have a place of your own to call home. There are no more noisy neighbors, limited pool hours and extra fees to pay for pets. However, you still have to be able to live your life while also paying for your home. Here are some financial tips for those who have bought a home for the first time.

Budget For All The Accessories That Go With A Home

You have to think about all the extras that go along with a home. You’re now responsible for taking care of your grass. That means you need a lawn mower. Buying a snow blower may also be necessary if you don’t enjoy shovelling your driveway. Make sure that you budget for new appliances if none are currently in the home.

Keep Money Available For Repairs

This one of the major financial tips! No longer can you call maintenance when a problem arises. That leaky roof isn’t going to take care of itself. The insulation needs to be taken care of all on your own. This doesn’t mean that you have to make the repairs on your own. However, it does mean that you’ll need to pay someone to do the work if you can’t. Therefore, it’s important to keep some extra money budgeted for repairs.

Consider Renting A Portion Of Your Home

If you’re just buying a home for the first time, offering a room for rent can be beneficial. This is a great way for first-time homeowners to offset the cost of their mortgage while living in their own home. The best idea is to rent to a family member or friend. They tend to be better tenants and can be easier to work with if problems with the home arise.

Continue To Work On Your Financial Situation

Make sure that you’re still doing the things it takes to improve your credit score. Pay off your student loans early if possible. Sell your car if you need to lower your debt level. This matters because you may not qualify for a traditional loan if you’re buying your first home. Improving your credit situation allows you to qualify for a fixed-rate loan before your payment increases.

Don’t Fall Behind On Your Payments

Of all of the financial tips here, this is the most important one. Make sure that you prioritize your mortgage payment over anything else. If you fail to make the payments, you’ll lose your home. Your credit score will also take a hit. Anyone who starts to struggle with their payment should contact their lender immediately. Alternate payment arrangements may be available if you make them before problems occur.

Owning a home is a great thing. You have an asset that should continue to grow in value over the years. The equity that you build in your home will give you access to cash that you can use to pay your bills later in life. For now, make sure that your financial situation is stable enough to own a home while still keeping a decent standard of living. Having a home won’t be fun if you work all day or are constantly close to foreclosure.

What are the financial tips you live by? Did we miss one? Leave your comment in the box below.

You’re Almost Home: Moving Day Tips

Raeann — Wed, 18 Jul 2012 15:00:01 +0000

Once you’ve decided on your first house and your offer has been accepted, the house buying process is almost complete. Soon, you will be settled into your new home. But what moving day tips should you follow to ensure a smooth transition?

Moving Day Tips

There are still some steps between you and your new life in your very first house. Here are some moving day tips to help you navigate the final phase of the relocation process so that you can become a homeowner with as little hassle as possible.

Preparing For Moving Day

You might be wondering if you should hire movers to ease your transition into your new home. Because professional movers can help you move quickly and efficiently, they can help make the moving process much less stressful. Of course, professional movers can be expensive. You should consider your budget and decide whether or not you can afford to hire movers. Of course, if you are physically incapable of moving boxes or heavy furniture, you will need help. For many people, professional moving companies are the ideal solution.

Even if you need to hire movers, there are still ways that you can save money. First of all, make sure you get several estimates from different moving companies. If you get estimates from local moving companies, you’ll be able to quickly determine which company offers the best rates. You should also consider reading reviews of moving companies online. You don’t want to work with a company that’s unreliable or dishonest. As long as you do plenty of research beforehand, you should be able to find professional movers that fit your budget.

Tips For Packing And Organizing Your Belongings

Before you even get started packing, you should go through your belongings and sell, dispose, and donate items that you no longer need or want. This is one of the best moving day tips because far too many people just box up everything that they own and take it to their new home. The reason that this is a mistake is that they end up transporting items they do not really need, which wastes time and energy. If you go through your belongings and eliminate superfluous items, you’ll have fewer boxes to carry. By the end of your move-in day, you’ll be glad you got organized. If you end up donating a lot of old furniture, clothing, and other belongings, you might even be able to rent a smaller moving van, which could save you some money.

Make sure that all the boxes you pack are clearly labeled. Once you move a box into your house, you want to make sure that it’s in the right location. Otherwise, you’ll need to keep hauling boxes around your new place, extending the already arduous task of moving. You should also make sure that you pack a box with the most important necessities for your first night in your new home. Once you get finished moving all of your belongings, you will not want to hunt through a bunch of boxes to find toilet paper, sheets, medications, or other essentials. Pack and label a box of the items you will need right away once you move in.

Prepare Your New Home For Move-In

If at all possible, take some time to prepare your new home for move-in day. Although you might be eager to move your belongings from your old residence to your new home as soon as possible, the moving process will be much less hectic if you plan ahead. Although most sellers try to leave their home clean and ready for the next owner, it’s possible that the seller’s cleanliness standards are not as high as your own. You will find it much easier to clean your new home if it’s still completely empty and unfurnished. Additionally, it’ll be easier for you to complete basic home improvement projects if you do not have all of your belongings in the way. If you want to repaint or replace the carpet in your new home, try to get these tasks done before you move in all your stuff. Although this might delay your move-in a bit, you’ll save yourself extra work later. With research, organization, and planning, you’ll be able to enjoy a worry free moving day.

What moving day tips would you like to share? Leave your comments in the box below.

How to Choose the Right Home for You

Raeann — Wed, 11 Jul 2012 15:00:48 +0000

Are you currently in the market to buy a house for the first time? If so, then this can be a very exciting experience for you. Being a home owner is very rewarding and has many benefits that you’ll be sure to enjoy. After all, unlike renting, owning a home allows you to have the final say when it comes to just about every aspect of your residency, from the colours of the walls to the landscaping you choose for your yard. But there are a lot of questions on how to choose the right home.

However, before you make that huge investment, it’s extremely important to consider what type of home is right for you. After all, this is something that you’ll likely be paying for for the next thirty or so years of your life, and it could possibly be the home you spend the rest of your life in as well. For this reason, it’s important to choose a place that you’re going to be happy in for a long time to come and never to compromise!

The Starting Point to Choose the Right Home

Before you even begin to look at homes, it’s a good idea to sit down and figure out what kind of home would be ideal for you. There are many considerations to keep in mind when deciding this.

Bedrooms and Bathrooms

For starters, figuring out the number of bedrooms and bathrooms you’d like to have in your house is important. In figuring this out, you’ll need to look into the future and consider where your life may be in ten, twenty, even thirty years to the best of your ability. Do you’ve kids? If so, will they each need to have their own bedroom? If you don’t have kids, do you plan on having them? If so, you’ll need to ensure that there are enough bedrooms and bathrooms in the home to accommodate them.

Multi-level versus One Level

Another thing to consider is how many stories you’d like your house to be, if this is a factor that’s important to you. For example, some home buyers may not have the mobility to get up and down stairs easily, so they may prefer a one-level ranch-style house. On the other hand, a two-story house may be ideal for others.

Features and Amenities

Next, consider other features and amenities of your home that you’d like it to have. This can include both indoor and outdoor features. For example, maybe you’ve always wanted a kitchen with an island, or a beautiful bay window in the living room. In terms of your home’s exterior, consider features such as a swimming pool, a deck, or even something such as a sprinkler system. These are all small features that can really make your new house feel like a home.

On a side note, it’s still important to remember that unless you’re considering having a brand new home constructed, it simply may not be possible to find a house that has every single feature that you’re looking for when you’re trying to choose the right home. In shopping for a home, you must be open-minded and consider the fact that once you buy a home, you’ll be able to make your own modifications to it as desired. For example, perhaps you’ve always wanted a home with a pool but you cannot find one that meets all of your other expectations and has a pool. In this situation, you may want to look past that and consider having a pool installed after the fact, especially if the asking price of the house is low enough to accommodate for that within your budget.

What’s Your Budget?

Speaking of your budget, make sure that you figure out how much you can truly afford to be spending on your monthly house payment. While buying tends to be a lot cheaper than renting, the truth is that you’ll also need to take into consideration the fact that you’ll need to pay property taxes on top of your monthly mortgage. In addition, you’ll still be responsible for all of your utilities and the cost of home repairs and routine maintenance. Be sure to factor all of these costs into consideration before deciding on a budget and speak with your bank to see what you’ll be able to get approved for in terms of a mortgage.

Once you’ve taken all of these factors into careful consideration, you’ll have a much better idea of what you’re looking for in your very first home. From there, you’ll want to begin searching in the area to see what is currently on the market and look into hiring a professional real estate agent to help you turn your dream of owning a home into a reality. Before you know it, you’ll be settling in to the house of your dreams. Good luck to you!