Tag: homeowners

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It's A Dog's Life For Millennials: What's Really Driving Their Desire To Buy A House

Is the millennial homebuying surge about finally “growing up” and giving up mom’s home-cooked meals and laundry services? Is it about finally having student loans paid off and feeling secure enough to take on the financial burden? Perhaps it’s really about getting ready to marry and have kids. Nope. Turns out none of these things could convince millennials to buy homes like their little furry friend could.

Yep, when it comes to millennial homeownership, these are the dog days.

“A third of millennial-aged Americans (ages 18 to 36) who purchased their first home (33%) say the desire to have a better space or yard for a dog influenced their decision to purchase their first home, according to a new survey conducted online by Harris Poll on behalf of SunTrust Mortgage. “Dogs ranked among the top three motivators for first-time home purchasers and were cited by more millennials than marriage/upcoming marriage, 25 percent, or the birth/expected birth of a child, 19 percent.”

There were only two factors that rated higher than dog ownership: 66 percent cited a desire for more living space, and 36 percent were interested in building equity through homeownership. Presumably, they want to do so with a pup by their side.

“Millennials have strong bonds with their dogs, so it makes sense that their furry family members are driving home-buying decisions,” said Dorinda Smith, SunTrust Mortgage President and CEO of the survey. “For those with dogs, renting can be more expensive and a hassle; home ownership takes some of the stress off by providing a better living situation.”

The survey also showed how strongly homebuyers that have not yet jumped into the market feel about this issue. Among millennials who have never purchased a home, “42 percent say that their dog – or the desire to have one – is a key factor in their desire to buy a home in the future, suggesting dogs will also influence purchase decisions of potential first-time homebuyers,” they said.

Those statistics could have a real impact on multiple aspects of the real estate industry, from the way sellers stage their home; to the types of homes that builders and developers concentrate on in pockets where millennials may be looking; to pet-related homeowners’ association bylaws that may be in need of review and revision. Most attached homes don’t offer the kind of outdoor space millennials are looking for, but townhomes sometimes do, and they can be more affordable than single-family options; some communities have breed and size restrictions and also cap the number of dogs you can have – important considerations if you happen to be one of those dog-crazy millennial homebuyer types or are an agent who’s representing one.


petsafe.net

Looking to sell your home and think you have a millennial target in your sights? Perhaps pointing out a good spot for a doggy door, if you don’t already have one, and adding a picture of you and your dog (fake it if you need to!), a dog bed, and a basket with dog toys on the fireplace hearth before showings will help.

Pets before kids

Homeownership isn’t the only thing millennials have delayed. Marriage and kids – if they’re in the cards at all for millennials – are waiting. Pet ownership is not.

Millennials are in age brackets that are commonly associated with the idea of “settling down,” said Pet Business. “But, rather than starting families with children, millennials are instead opting for buying or adopting pets to satisfy their caretaking needs.” 

Pet ownership is up overall, led by millennials. The latest American Pet Products Association (APPA) National Pet Owners Survey shows that, “Sixty-eight percent of American households now own a pet, accounting for 84.6 million pet-owning households, up from 79.7 million pet-owning households in 2015,” said Pet Food Industry. “Gen Y/millennial pet ownership has officially surpassed baby boomer ownership by three percentage points to now account for 35 percent of all pet owners.”

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Tax Free Exchange: A Valuable Alternative To A Home Sale

Congress is currently talking tax reform. Two very important real estate benefits are on the so-called “chopping block”, either to be completely eliminated or significantly curtailed.

It is doubtful that the home owner exclusion of up to $500,000 (or $250,000 if you file a single tax return) of profit will be impacted; there are too many homeowner voters who will forcefully object. But investors do not have the same strong lobbyist who can make the case for preserving the “like kind” exchange. So if you have an investment property, now might be the time to consider doing an exchange.

Residential homeowners have a number of tax benefits, the most important of which is the exclusion of up to $500,000 (or $250,000 if you file a single tax return) profit made on the sale of your principal residence. But real estate investors — large and small — still have to pay capital gains tax when they sell their investments. And since most investors depreciated their properties over a number of years, the capital gains tax can be quite large.

There is a way of deferring payment of this tax, and it is known as a Like-Kind Exchange under Section 1031 of the Internal Revenue Code. In my opinion, these exchange provisions are still an important tool for any real estate investor.

The exchange process is not a “tax free” device, although people refer to it as a “tax-free exchange.” It is also called a “Starker exchange” or a “deferred exchange.” It will not relieve you from the ultimate obligation to pay the capital gains tax. It will, however, allow you to defer paying that tax until you sell your last investment property — or you die.

The rules are complex, but here is a general overview of the process.

Section 1031 permits a delay (non-recognition) of gain only if the following conditions are met:

First, the property transferred (called by the IRS the “relinquished property”) and the exchange property (“replacement property”) must be “property held for productive use in trade, in business or for investment.” Neither property in this exchange can be your principal residence, unless you have abandoned it as your personal house.

Second, there must be an exchange; the IRS wants to ensure that a transaction called an exchange is not really a sale and a subsequent purchase.

Third, the replacement property must be of “like kind.” The courts have given a very broad definition to this concept. As a general rule, all real estate is considered “like kind” with all other real estate. Thus, a condominium unit can be swapped for an office building, a single family home for raw land, or a farm for commercial or industrial property.

Once you meet these tests, it is important that you determine the tax consequences. If you do a like-kind exchange, your profit will be deferred until you sell the replacement property. However, it must be noted that the cost basis of the new property in most cases will be the basis of the old property. Discuss this with your accountant to determine whether the savings by using the like-kind exchange will make up for the lower cost basis on your new property. And discuss also whether you might be better off selling the property, biting the bullet and paying the tax, but not have to be a landlord again.

The traditional, classic exchange (A and B swap properties) rarely works. Not everyone is able to find replacement property before they sell their own property. In a case involving a man named Mr. Starker, the court held that the exchange does not have to be simultaneous.

Congress did not like this open-ended interpretation, and in 1984, two major limitations were imposed on the Starker (non-simultaneous) exchange.

First, the replacement property must be identified before the 45th day after the day on which the original (relinquished) property is transferred.

Second, the replacement property must be purchased no later than 180 days after the taxpayer transfers his original property, or the due date (with any extension) of the taxpayer’s return of the tax imposed for the year in which the transfer is made. These are very important time limitations, which should be noted on your calendar when you first enter into a 1031 exchange.

In 1989, Congress added two additional technical restrictions. First, property in the United States cannot be exchanged for property outside the United States.

Second, if property received in a like-kind exchange between related persons is disposed of within two years after the date of the last transfer, the original exchange will not qualify for non-recognition of gain.

In May of 1991, the Internal Revenue Service adopted final regulations which clarified many of the issues.

This column cannot analyze all of these regulations. The following, however, will highlight some of the major issues:

1. Identification of the replacement property within 45 days. According to the IRS, the taxpayer may identify more than one property as replacement property. However, the maximum number of replacement properties that the taxpayer may identify is either three properties of any fair market value, or any larger number as long as their aggregate fair market value does not exceed 200% of the aggregate fair market value of all of the relinquished properties.

Furthermore, the replacement property or properties must be unambiguously described in a written document. According to the IRS, real property must be described by a legal description, street address or distinguishable name (e.g., The Camelot Apartment Building).”

2. Who is the neutral party? Conceptually, the relinquished property is sold, and the sales proceeds are held in escrow by a neutral party, until the replacement property is obtained. Generally, an intermediary or escrow agent is involved in the transaction. In order to make absolutely sure the taxpayer does not have control or access to these funds during this interim period, the IRS requires that this agent cannot be the taxpayer or a related party. The holder of the escrow account can be an attorney or a broker engaged primarily to facilitate the exchange.

3. Interest on the exchange proceeds. One of the underlying concepts of a successful 1031 exchange is the absolute requirement that not one penny of the sales proceeds be available to the seller of the relinquished property under any circumstances unless the transactions do not take place.

Generally, the sales proceeds are placed in escrow with a neutral third party. Since these proceeds may not be used for the purchase of the replacement property for up to 180 days, the amount of interest earned can be significant — or at least it used to be until banks starting paying pennies on our savings accounts.

Surprisingly, the Internal Revenue Service permitted the taxpayer to earn interest — referred to as “growth factor” — on these escrowed funds. Any such interest to the taxpayer has to be reported as earned income. Once the replacement property is obtained by the exchanger, the interest can either be used for the purchase of that property, or paid directly to the exchanger.

The rules are quite complex, and you must seek both legal and tax accounting advice before you enter into any like-kind exchange transaction.

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Chimney Liners: Does Your Home Have One – Do You Even Need One?

You rely on your chimney being safe. Whether you use your fireplace for wood-burning fires, you have a furnace that vents through your chimney, you utilize a wood stove or gas insert, your chimney needs to be able to handle heat and sparks without allowing damage to your home. Stone or brick chimneys can be made safer with a flue lining that helps to move heat and gases up and out of your home.

Chimney liners are a protective barrier usually made of metal or ceramic. Liners insulate heat moving through the chimney, protecting and flammable areas of your home’s structure. They also protect flue masonry from cracks or crumbling mortar due to repeated heating and cooling.

Why worry about your chimney liner?

Cracks or damage can lessen the effectiveness of the liner, which make burning anything in your fireplace or wood stove risky. Plus, if your liner is damaged, you may have a hard time passing a home inspection and selling your house until it’s repaired or replaced.

In the “olden days,” chimneys were completely unlined or only lined with clay tiles, which could crack or break relatively easily. Especially if you have an older home, an excellent first step is to have a masonry or chimney expert examine your chimney and assess its integrity.

Do you burn wood in your fireplace regularly? You should definitely have your chimney liner inspected as part of an overall maintenance plan performed at least once a year. Cleaning is a good idea as well: The products of burning wood, called creosote, can build up in your unlined or improperly lined chimney, and may eventually cause a fire. Cleaning and inspection from a chimney professional, sometimes called a chimney sweep, averages $298 in the US, according to HomeAdvisor’s surveys of homeowners.

How do you know if your liner needs to be repaired or replaced?

Because it’s hard to see into your chimney, you may be uncomfortable determining whether your chimney professional is accurately assessing your needs. There are two options for confirming a diagnosis of damaged chimney liner:

1. See for yourself. From inside the house, open the flue and look up as far as you can. Next, check the chimney from the roof by removing the cap and doing a visual inspection. Any signs of cracks or rough edges can signify an issue and confirm your chimney professional’s assessment.

2. Hire a chimney professional with a camera. Most modern chimney companies run a scope with camera down the length of the chimney as part of their inspection. Upon request, they’ll likely be willing to record the video and share it with you, detailing the issues they see.

What if you don’t have a chimney liner at all?

If your home is older and you’ve determined that your home only has the stone or brick of the outer chimney, you need to decide whether a liner is necessary. First, check your city’s fire code. This may mandate that you install a liner if you’re making any changes to or installing a wood-burning stove or fireplace. If you burn wood in your fireplace or in a wood-burning stove, it’s recommended that you have a stainless-steel liner to prevent overheating your chimney and risking a fire. In some locations, your city’s fire code may mandate that you install such a liner if you’re making any changes to or installing a wood-burning stove or fireplace.

However, if you’re not using your fireplace and your chimney acts solely as a vent for your furnace or water heater, you may not need to have a liner installed. Cracked masonry should be addressed from an energy-savings perspective — a lot of air could be escaping from your home, depending on where the damage to the chimney is located — but it’s not likely to be a fire hazard.

Homeowners with gas or electric inserts most likely do not need a new liner because those types of fuel don’t produce enough heat to damage a masonry chimney.

Do you have questions about your chimney and whether it needs a new liner? A chimney professional can answer your questions and schedule an inspection for your home.

Sources:

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Sellers Net Highest Profit in a Decade

Home sellers in the second quarter of this year sold their properties for an average $51,000 more than they paid for them when they bought them. That’s the highest price gain for sellers since the second quarter of 2007, when it was $57,000, according to a new report by real estate data form ATTOM Data Solutions. This represents an average return on investment of 26 percent.

The sellers had owned their homes an average of eight years, which is the longest tenure of homeownership since the first quarter of 2000, when ATTOM Data Solutions began tracking such data. However, “potential home sellers in today’s market are caught in a Catch-22,” says Daren Blomquist, senior vice president at ATTOM Data Solutions. “While it’s the most profitable time to sell in a decade, it’s also extremely difficult to find another home to purchase, which is helping to keep homeowners in their homes longer before selling. And the market is becoming even more competitive, with the share of cash buyers in the second quarter increasing annually for the first time in four years.”

Out of 118 metro areas with at least 1,000 homes sales in the second quarter, ATTOM Data Solutions found that these cities had the highest percentage of sales in which sellers got top dollar:

  • San Jose, Calif.: 75%
  • San Francisco: 65%
  • Seattle: 63%
  • Modesto, Calif.: 62%
  • Denver: 62%

Source: RealtyTrac/ATTOM Data Solutions

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Trend Alert: Rounded Furniture

Over all those hard edges? We have some good news for you. After many years of being dominated by straight lines, curves are making a comeback in interior design. Business Insider called rounded furniture one of the hottest design trends this year. “The furniture is a lot more substantial and rounded off where it was feeling very squared,” Caitlin Murray, founder and CEO of Black Lacquer Design, told them.

They’re not alone. Everyone from Elle Décor to Architectural Digest has been touting this trend, which is now starting to settle in as a “must-have.”

“A boxy item here and there is fine, but 2017 will be the year rounded edges and circular furniture return,” said Elle Decor. Patti Carpenter, a “global ambassador and found of carpenter + company,” told them, “It’s all about finding a place of calm and comfort in this constant chaos and information that we constantly have coming at us.” In short, they said, “it’s all about comfort…not edginess.”

Don’t be afraid to take your whole room to a curvy place. You may want to mix up the color palette a little, but the three-piece set looks chic together. The faux marble wallpaper behind the seating area? That’s another top trend.


pinterest.com

Or, incorporate one great piece, like this tufted couch from West Elm featured on the Today show during a segment on this year’s design trends. On the show, Amy Astley of Architectural Digest embraced the round furniture trend, saying the curvier shapes bring in a romantic, softer, prettier feel – especially when executed in velvet, like below.


today.com

Worried about how rounded furniture will look in your existing space, especially if it already boasts a strong design style? The desk and credenza in this office space create a modern focal point, complemented beautifully by the ornate moldings.


contemporist.com

Keeping your straight lines and incorporating rounded furniture, too, looks great in this breakfast nook. The round table is a great choice because it fits in snugly in a small space and allows everyone to gather ‘round (literally) and enjoy each other’s company.


decoratingfiles.com

Going the round route in your outdoor space immediately reads: resort. With these cocoon-like chairs, you may never go inside.


harmonyforhome.com

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Inspired Ways To Create A Guest Space When You Don't Have A Guest Room

Not all of us are blessed with enough bedrooms to accommodate every member of the family plus a home office and a man cave and a theater room and a guest space. And, it’s that last one that often ends up as a challenge when friends and family come to visit and you either have to break out the blow-up bed or give up your room and hunker down with the kids. You don’t need to add on or buy a new home to provide a comfortable space for guests. These smart solutions will help you create a great space for guests with minimal effort.

Murphy beds

Part of the appeal of a Murphy bed is the ability to hide the sleeping surface away instead of having it be the main focus of the space, which can limit the usability of the room. A home office with a hidden surprise provides great function for those who need a room to do double duty.

“A Murphy bed neatly folds away when not in use, providing room to use a desk and store home office necessities,” said Houzz. “When guests arrive, just tuck in your desk chair and pull down the bed.”


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You might not want to fill this small space with a guest bed, but hiding one behind the couch works just fine.

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Even in a super modern space, a Murphy bed can be hidden creatively. Would you ever think there was a bed behind those art panels?

If you’re handy, you may even be able to make one yourself.

Wall bed

A similar idea but with a little different execution, a wall bed is another great space-saving solution. You may not think you have room for a guest space…until you see one fold out from under the TV. Voila. Happy family hunkered down at your house.


resourcefurniture.com

This one looks like a couple of built-ins. Nope. It’s a wall bed.


apartmenttherapy.com

Pull-out couch

The knock on pull-out couches: They’re uncomfortable. And ugly. But today’s versions are far from your grandfather’s pull-out couch with the flimsy mattress, non-existent support, and limited design potential.

“Forget what you always knew about sofa beds, because you actually can get a good night’s sleep and have a stylish sofa these days,” said Apartment Therapy.

This modern version will give you the style you seek while providing comfort to your guests.

bestproducts.com

Rich, traditional leather can also serve an additional function. Even better, this loveseat is small enough to work in a smaller space while still providing ample space for snoozing.

“This top-grain leather sleeper sofa is just as luxe as it looks,” said Best Products. “A raised base with roomy, springy seating makes it just right for movie nights, while the interior pull-out bed ensures that it is always at the ready for overnight use.

bestproducts.com

Day bed

A variation on the pull-out couch, a day bed is a chic design choice for many homes, especially because the style allows it to fit into a lot of paces more easily than another bulky sofa.

Also, choose right and you’ll have a piece that looks like a cool place to lounge, but is all ready to accommodate a good night’s sleep.

Want to double your guest space? Look for a daybed with a trundle, like this one.


wayfair.com

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How to Help Your Parents Downsize and Declutter

When the child is the one charged with helping the parents downsize, these guidelines can smooth the process.

Many seniors eventually need to downsize to a smaller space, whether to a retirement community, a nursing facility or a room in a family member’s home. Often, the task of decluttering and packing falls to their children.

If you’re the person faced with going through an aging parent’s belongings, it may be tempting to rent a storage unit and just pack it all away. However, that can be an expensive way to merely delay the inevitable. Instead, I recommend you start the decluttering process as soon as possible. Here are some tips to help you through it.

1. Acknowledge the true magnitude of the task. Moving from a home filled with years of memories can be a very emotional process for your parents. Not only do they have to downsize the physical memories of perhaps as long as a lifetime, but moving may also summon unwanted reminders of their mortality.

For both parent and child, decluttering takes patience. And for the child especially, it can be difficult to stay motivated, since you won’t directly reap the rewards of a tidier space. Further, your decluttering standards may be different than those of your parents. What you consider trash may be your parents’ treasures, and this can sometimes lead to friction. It’s important, though, to involve your parents in the decision-making process rather than taking over completely. Soliciting their input and accommodating their desires is a way to show them you value their decisions and respect their belongings.

So before you get started, mentally prepare yourself for what’s to come. Know that some items may be easy to declutter, such as clothing that doesn’t fit. Others will take more time, patience and thought.

2. Schedule bite-sized work sessions. Decluttering is time-consuming, and it can be tiring for aging parents. If time permits before the move, space out your sessions so you and your parents can maintain the energy to complete the entire house. I recommend no more than four hours at a time, and perhaps just two to three times per week. This schedule allows for a balance between making efficient use of your time and not exhausting your parents.

3. Understand your parents’ lifestyle. Getting a snapshot of how your parents plan to live in their new home will help you narrow down what they keep – with the goal of retaining only what they actually love or need. Even if you think you understand their lifestyle already, it can be helpful to sit down together and sketch out a few details that can serve as guidance as you sort.

For example, if your parents typically launder their clothes once a week, then 10 to 14 sets of clothing for each season would be more than enough to last between washes. If they won’t be entertaining at their new location, they may feel confident donating their punch bowls and tablecloths. If formal events are few and far between, then three to four comfortable formal outfits may suffice.

Below are some questions you could use as a starting point for your discussion with your parents. You could even use their answers to guide a first pass at eliminating irrelevant items on your own – leaving fewer decisions for your parents to make.

  • What type of clothing do you need? (Daily comfort wear? Weekly church outfits? Occasional formal outfits?)
  • What is your current range of clothing sizes? Is it OK to donate all clothing outside of this range?
  • To what extent will you be cooking and baking?
  • Will you be entertaining? If so, what would be the maximum number of guests?
  • Which suitcases and bags are no longer practical for travel (too large to manage, lacking wheels)?
  • Will you want to decorate seasonally?
  • Which books do you still read and which music do you still listen to?

4. Start with the least sentimental items. As with most things, practice makes perfect. My clients have found that the decision to keep, toss, sell or donate becomes easier the more you practice. Starting your decluttering process with the least sentimental items, such as linens and clothing, and working your way toward the most sentimental, such as photos and letters, can be a helpful way to ease into harder decision-making territory.

5. Declutter by category rather than room. Separating your decluttering into categories is helpful in terms of keeping your parents – and yourself – motivated and focused. It’s easier to make decisions when items are grouped, as this helps you see all at once how many belongings you’re dealing with. Also, you can all feel a sense of accomplishment with the completion of each category. I recommend separating items into the smallest categories possible. For example, instead of creating a category of tops, separate the items further into short sleeves, long sleeves, sweaters. Accessories can be separated into belts, hats, scarves and handbags.

6. Keep only sentimental items that will be displayed. Many of my clients have a hard time parting with sentimental memorabilia. But the truth is, some of these items have been buried in their houses for decades. I usually encourage them to keep only the items they’ll have out. After all, memorabilia can’t be enjoyed while hidden away, and disposing of the items doesn’t diminish the memories associated with them.

One possible way to ease the permanence of losing sentimental items is to take photographs of them. However, I don’t recommend this in cases where the photograph can’t be filed away immediately, whether in a digital album or a physical scrapbook. If there is no defined location for the photograph, whether digital or physical, then it becomes clutter. Also, if it’s likely that looking at these photographs will bring on feelings of regret for your parents, I also don’t recommend this method.

7. Take charge of your childhood items. If your parents have saved all of your childhood memorabilia, they may be willing to turn those items over to you for sorting through. This can be quite helpful for parents who are overwhelmed with culling their own possessions. Now is also the time to remove any of your adult possessions that have been stored in their house.

8. Remove unwanted items from the property. You haven’t truly finished decluttering until all the unwanted items are no longer in your parents’ house. Consider ordering a dumpster for trash, scheduling a charitable organization to pick up donations and selling items at a consignment store or online. Although it would be wonderful to earn money by selling some items, if you don’t have time to list them or your items don’t sell quickly, permit yourself to donate instead. It’s important to keep unwanted possessions moving as you continue the decluttering process, as storing them in the house may hinder progress.

9. Treasure this quality time with your parents. Decluttering is undoubtedly hard work, and tensions often arise amid differing viewpoints. So try to adjust your perspective when these moments inevitably come. Instead of viewing the task as a chore, consider it a special time spent with your parents. You may even hear some priceless stories about their youth and your childhood – especially if you maintain a patient attitude, and if you take the time to ask.

Also See:

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7 Reasons To Stop Renting Today

Still renting? You must have a good reason. Although, we’re not really sure what it is. With rents continuing to rise across the country, interest rates staying around historic levels, and new loans lowering down payment requirements, it just makes sense to take the leap to homeownership. Maybe you’ve got terrible credit and don’t want to take the time to improve it (or don’t know about loans that accept lower scores)? Or, maybe you just like giving your money away. If you’re still not on board, these 7 reasons might change your mind.

Because owning a home is still less expensive than renting across the country

GOBankingRates’ annual survey of “the cost of renting versus owning a home in all 50 states and the District of Columbia” just came out, and, while they “found that the number of places where it’s more expensive to own than rent has increased,” the number went from 9 to 11. That means that, in 39 states, it still makes more financial sense to buy.

Rates are near historic lows

We’re spoiled. Seriously. Anyone who has been paying attention to the market over the last few years and has seen interest rates with a 3 or 4 before that decimal point may just think it’ll always be that way. But history has a way of repeating itself, and while we may not see rates in the teens again anytime soon, most industry experts have been predicting rates moving into the 5s sometime this year, with a pattern of rising rates beyond. Buying a home while money is cheap is a smart move.

“A difference of even 1 percent can have a major impact on your total payments over time,” said ZACKS. “For instance, a $200,000 mortgage for 30 years at an interest rate of 5 percent would require a monthly payment of $1,073.64. By comparison, the same mortgage at 4 percent interest would result in a payment of $954.83.” That might not seem like a big deal every month, but, consider the long-term potential: “Over 30 years, the total difference between the two would be $42,771.60.”

FHA loans and the like make it easier to qualify

Don’t have an 800 credit score? You don’t need to today. FHA requirements are lower than conventional loans, and you may already be where you need to be to qualify. “The average FICO score for buyers who finance FHA loans is 683, according to Ellie Mae. That’s considerably lower than the average score of 753 for conventional, non-FHA financing,” said Interest.com. “Most lenders have a…minimum of 600.”

A little thing called equity

Rising rents may or may not equate to rising property values in your area, but either way, you’re not going see any financial benefit from it. When you own your home and your equity rises, that equity is yours. And so is the choice of what to do with it. Whether you decide to let it sit and continue to grow or tap your equity for home improvement projects, the money is yours to decide how to use.


designlike.com

The days of the 20 percent down payment are all but gone

Does 20 percent down make it more likely that you’ll qualify for a loan? Sure. Does that mean you have to come up with that huge chunk of money? No. Nor do you have to come up with 10 percent down, which, for some reason, the majority of new buyers seem to believe. “87% of first-time buyers think they need 10% or more down to buy a home,” said The Mortgage Reports.

The FHA loan is one of the most popular loans available to first-time buyers because, not only can you qualify with a fair credit score, but the down payment is as low as 3.5 percent, and, “100 percent of the down payment can be a financial gift from a relative or approved non-profit,” they said. But, it’s not the only option for a low down payment. Fannie Mae’s Conventional 97 Mortgage and HomeReady Mortgage require just 3 percent down. The Mortgage Reports also has information on closing cost help and down payment assistance programs.

Rents keep rising

Unless you’re in a rent-controlled apartment (and, bless you if you are since there are so few left), your rent is just going to keep going up every year. Apartment List’s monthly National Apartment List Rent Report shows that, “Our national rent index is continuing to climb, with month-over-month growth of 0.5 percent for June. Rents grew at a rate of 0.5 percent between May and June, which is generally in line with the monthly growth that we’ve seen over the course of this year thus far. Year-over-year growth at the national level currently stands at 2.9 percent, surpassing the 2.6 percent rate from this time last year. In addition to the growth on the national level, rents are now increasing in nearly all of the nation’s biggest markets.”

When you own your home, your payment is your payment is your payment. Unless you take out a home equity loan or refinance to take cash out, your payment’s not going to go up.

Tax breaks

Here’s another bit of fun for renters: nothing you pay comes back to you. I mean, except for that security deposit, but that all depends on what effect your dog and those few parties you threw had on the condition of the home. As a homeowner, you get to write off all kinds of stuff, which lowers your overall costs. “Your biggest tax break is reflected in the house payment you make each month since, for most homeowners, the bulk of that check goes toward interest. And all that interest is deductible,” said Bankrate. “Did you pay points to get a better rate on any of your various home loans? They offer a tax break, too. The other major deduction in connection with your home is property taxes.”

And think about it this way: Even if your house payment is going to be a little bit higher than what you’re currently paying in rent, it’s not an apples-to-apples comparison. How do those numbers look when you calculate the tax savings?

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5 Ways Telecommuters Can Reduce Household Energy Use

As someone who’s devoted to reducing their home’s carbon footprint, you’re likely already adhering to some of more common suggestions. Case in point: You turn off the lights when you leave a room. You’ve purchased blackout window shades. And you’ve made sure not to set the A/C too high during those hot, summer months.

While you may want to boost your energy savings even more, as a telecommuter, some of the classic energy-saving tips simply won’t work for you. For example, you’d likely sweat profusely if you set your thermostat to 90 degrees from 9 a.m. to 5 p.m. Fortunately, there are a number of other clever ways to think outside the (fuse) box and save energy, even while spending a majority of your time at home. Check out the following five ideas:

1. Run Sleep Mode on Your Computer

Your computer features a number of power modes to save you money on your energy bill. As House Logic notes, these include active/on, active standby and passive standby/off modes. Set up your computer to automatically go into one of these low-consumption modes when you’re away from your home office for extended time periods.

For example, this feature would bode well for your computer — and monthly utility bill — when you take a phone call with a client or go on lunch break. When you return to your desk, your computer will immediately power up and be ready for use. Then, at the end of the workday, completely shut off your computer. This approach can save you between $25 and $75 annually per computer.

2. Use a Single Backup Server

If you have multiple servers in your home, you can easily decrease your energy consumption by switching to one central server. To protect your computers — and all your important work — back up everything on the server through a cloud-based service provider like Mozy.

Mozy’s user-friendly, energy-efficient software allows you to decide when to perform any backups and which specific files you want protected. Many utility companies charge less if you use a bulk of electricity at certain times of the day; if this is the case for you, schedule your backups to run when rates are at their lowest.

3. Consider Switching to a Laptop

Laptops offer more than easy portability and user-friendly designs — they’re also much more energy efficient than their desktop counterparts. As Homeselfe.com notes, laptops use up to 80 percent less power than desktops. So, if you’re in the market for a new computer, investing in a laptop will help save you money on your electric bills.

4. Invest in a Power Strip for Easy On/Off Savings

Your computer, printer and other home office electronics continue to use energy, even when they’re turned off. Solve this issue by plugging all your electronics into a power strip instead of an outlet. As a bonus, you won’t have to go around turning off multiple machines at the end of the day. Instead, simply flip on the switch to your power strip and immediately start saving money.

5. Think Before You Print

While you might be accustomed to printing your invoices, important emails from the boss and other documents, cutting back on this practice will save energy, along with protecting trees. Store your invoices and work-related paperwork as files on your computer and access or email them to clients when appropriate. Ultimately, you’ll spend less on printer power and paper — which is definitely good for Mother Earth.

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Can't Sleep? Why Your House Might Be To Blame And What You Can Do About It

Not being able to get sufficient sleep isn’t just annoying. Beyond making you grouchy and causing you to yawn all day, it can threaten your immune system, impact your memory, and injure your back. There are a number of potential reasons for your sleeping issues, but your house probably isn’t helping. With a few fixes, you may be sleeping soundly in no time.

Clean your house

What? Yes, it turns out cleaning can have a positive impact on your sleep patterns. Not only will it make you tired with all that physical activity, but a messy house can give you anxiety, and anxiety can cause insomnia.

“Women who described their homes as ‘cluttered’ or full of ‘unfinished projects’ were more depressed, fatigued, and had higher levels of the stress hormone cortisol than women who felt their homes were ‘restful’ and ‘restorative,’ according to a study in Personality and Social Psychology Bulletin,” said Shape.

Darken the room

That streetlight on the corner that allows light to shine through your windows isn’t doing you any favors when it comes to your slumber. “A darker room when trying to sleep is important for everyone, especially shift workers and younger children,” said Victor Shade. “For shift workers, especially if you work nights or irregular schedules, having the ability to control the amount of light coming into the home will help you get to sleep easier and prevent health issues like insomnia.”

But, for anyone with trouble getting to sleep, the right window coverings can make a big difference. Try changing them out to roller shades, roman shades, or honeycomb shades, or get blackout drapes that can block any sign of light when it’s bedtime.

The right noise

You’ve probably heard of white noise, but pink noise might be even better in helping you sleep.

“A small new study published in Frontiers in Human Neuroscience suggests that one easy way for older adults to get deeper sleep and stronger memories is to listen to a certain soothing sound called ‘pink noise’—a mix of high and low frequencies that sounds more balanced and natural than its better-known cousin, ‘white noise,'” said TIME. “It may sound strange, but previous studies have found that playing so-called pink noise during sleep improves the memory of younger adults,” too.


Lowes

Turn the temp down

Want to get to sleep easier and doze all night long? It may be as easy as turning your thermostat down. “Dr. Christopher Winter, Medical Director at Charlottesville Neurology & Sleep Medicine, told simplemost that, “Your bedroom should be between 60 to 67 degrees Fahrenheit for optimal sleep. Temperatures above 75 degrees and below 54 degrees can disrupt sleep. Over a 24-hour period, our body temperatures naturally peak and decline. When we fall asleep, our bodies naturally cool off. Helping keep your body get to that lower temperature faster can encourage deeper sleep.”

Another benefit: “It’s been shown that sleeping in temperatures between 60-68 degrees will allow your body to release more melatonin, one of our best anti-aging hormones.”

Control the stink

Dirty clothes in the corner, animal scents on the bed – they’re just the realities of everyday life. And they may be, quite literally, keeping you up at night. Bring in a known relaxing scent to change it up. “Not only does lavender smell lovely, but the aroma of this flowering herb may also relax your nerves, lower your blood pressure, and put you in a relaxed state,” said Huffington Post. “A 2005 study at Wesleyan University found that subjects who sniffed lavender oil for two minutes at three, 10-minute intervals before bedtime increased their amount of deep sleep and felt more vigorous in the morning.”

Change the layout

Are you paying any attention to the principles of Feng Shui? There are said to be 33 ways this practice can help you sleep, from choosing the right location for your bedroom to the placement of your bed,” said Feng Shui nexus.


marksonchiropractic.com

Get a new mattress

If your mattress is just not comfortable, you’re having trouble getting to sleep, are tossing and turning during the night, and/or are waking up with a sore back on a regular basis, it may be time to go shopping! Experts recommend getting a new mattress every six to eight years. Keep in mind that many newer mattresses only have a pillowtop on one side, making them unflippable, but if your existing mattress is flat on both sides and or has pillowtop and bottom, flipping it every three months, as recommended, will help keep it in its best shape, which can help you sleep better.

Think about the 5,000 pounds of dead skin and bugs in your mattress

OK, maybe not quite that much. But the longer you’ve had your mattress, the more gross stuff is building up in it. “Old mattresses are filled with bed bugs and dust mites. These microscopic creatures eat the dead cells your body sheds. The process sounds gross, and it is,” said ELITE DAILY.

Sorry to get so graphic about dust mites, but, “Your bed is Disneyland for those little critters,” said Apartment Therapy. And, the allergies they can cause may be the reason you’re having trouble sleeping. If you’re still not ready to get a new bed, there are fixes to help keep the bugs at bay. “Vacuum your room with a HEPA filter and clean your bedding as often as you can – including your pillows, which you can throw in the dryer for 15 minutes to kill off any existing bugs,” they said. “Instead of scented detergent, use a few drops of eucalyptus oil in your laundry. Put hypoallergenic protective covers on your mattress and pillows.”

Get new bedding

While you’re examining your mattress, don’t overlook your bedding. If nothing else has helped your insomnia, the Gravity blanket might do the trick,” said Elle Décor. This blanker is weighted and “simulates the feeling of being hugged. The pressure in the blanket is evenly distributed to target specific pressure points throughout your body that have been shown to help relax the nervous system and raise serotonin production.”

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