Before Retiring, Think of These 4 Essential Investments that Add Value to Your Home

Before you start thinking about retiring to your very own moon-light patio, bohemian wine cellar or romantic porch there are some structural aspects you should take care of. People have started to spend more and more money on home improvements, and it seems only natural because the home is the place where we spend most of our time. We want our living room to be welcoming and relaxing, our bathrooms to look fresh and our kitchens to inspire, but we should not get ahead of ourselves. As tempting as bamboo flooring, granite counter-tops and vintage furniture may sound, there are a few long-term improvements that you should definitely consider.

Whether you are trying to sell your home in the near future and plan your retirement some place elsewhere or simply want to increase its value and enhance it for your children, there are four essential improvements you absolutely have to do. Although certain affordable cosmetic changes might make the house look better in the eyes of a potential buyer, it is the well-thought-out, carefully planned structural improvements that are more promising for the future. The first thing you should do is hire an expert to evaluate your house, and afterward make steps to remedy the problems. Here are four possibilities of improving your home.

1. Indoor Systems

As appealing as cosmetic improvements might be, it is the functional ones that truly increase the value of a house. A client will always appreciate a fully-functioning house with all the required repairs, upgrades and replacements of major systems. They might not stand out the way a purple wall might, but they are reliable and very important. Moreover if you aren't planning to sell the house in the near future, all the more reason to consolidate the structure and apply certain fixes. Indoor systems like plumbing and wiring should be properly done. In addition, you should make sure that your heating and air conditioning systems function accordingly.

2. Replace the roof

Every roof has an expiration date, and it is likely that you will have to improve yours at some point in your life, especially roofs made of asbestos. In terms of asbestos roof replacement, it isn't such a difficult process, as long as it is done correctly, and there are a few valid reasons why you should consider this option. First of all building codes say that you cannot put a second layer of shingles on top of the previous layer, and this means that you will have to strip off the current layer. Shingles which are applied over old ones don't last as long as a single-layered roof. By stripping the roof you will also get a chance to fix small problems like corroded metal, and leakages. You can also add an extra layer of ice and water barriers to better insulate the home.

3. Fix the Kitchen

Everybody knows that a beautiful kitchen is a major selling point for a home. This room is probably the best option if you want to add real value to your home. When it comes to kitchen remodels there are so many options to choose from that you can easily be sidetracked. Most people avoid remodeling the kitchen because they think that it is a huge investment. Nevertheless, if you study the market, manufacturers and trends you will see that there are a lot of affordable solutions to choose from. Replacing counter-tops, purchasing important appliances, refurbishing the cabinet hardware and floors will have a huge impact on the overall aspect of your interior.

4. Replace Windows

You should know that replacing the windows is a win-win investment. The seller will earn valuable tax earning credits, and the potential buyer will lower energy bills. The energy efficiency and Eco-friendly aspects have become very important for people nowadays, especially if you have an old house. It is actually forecasted that by 2030 all new homes will become fully sustainable. Moreover, there are many types of glass used for windows, which have special heating properties.

All in all, you have to make the most of your budget and time. It is impossible to remodel your home over night, but as long as you constantly apply changes and try to improve your home your chances of selling increase. Someone once said that your home is your castle, and a good king deserves a beautiful kingdom. 

6 Hilarious Signs You Need to Do Home Improvements

As your house gets older, it needs improvements to keep it running well and looking good. So, if you've been neglecting to make home improvements over the years, it's probably showing in your home. Take a look at these six signs it's time to make some changes and improvements. 

Your Utility Bill Makes You Cry

Yes, the cost of utilities has gone up, but if your utility bill is nearly as much as your mortgage, you know it's time to make some home improvements. Utility bills are typically higher in old homes because the insulation isn't as thick as it used to be, the windows let heat escape your home, and your appliances might not be energy-efficient models. So, if you cry every time you look at your utility bill, you should make your home more energy efficient to save money each month. Simple changes can make a huge difference.

You Still Have Annual Height Measurements in Your Kitchen

Lots of people mark annual height measurements on their walls, but you know it's time to make some home improvements if your paint is so old that you have height measurements from 20 to 30 years ago. Yes, we understand sentimental value, but you can always cut out that segment of the wall if it means that much to you. If your paint is that old, your home is definitely needs a fresh coat.

Your Home Evokes the 70s

You know you need to do some home improvements if your house takes people back to the 70s. For instance, lots of wood paneling and colorful shag carpet might remind people of their life during the Nixon era in college or growing up in the suburbs. It's easy to get new carpet and most wood paneling can be painted or taken down for a new look.

People Are Afraid to Go Down to Your Dark and Musty Basement

Basements are scary because they don't get as much light as the rest of the house. Making some simple home improvements like new light fixtures and clearing out the space can make a huge difference in your basement. Looking into a security system from Lifeshield.com can also make people feel more secure when they are at your house.

People Never Take Off Their Jacket When They Come Into Your Home

If you don't have adequate insulation or your windows are really old, your home is probably pretty drafty. You're probably used to it, but if people aren't taking off their jackets when they come to your home, it's time to make some improvements to the energy efficiency of your home. Plus, your power bill will probably go down because of it.

People Get a Headache from Going into Your Bathroom

Do you have a really colorful bathroom—floral wallpaper on the walls, a bathtub that is some color other than white? This is a sign you need to make some home improvements to your bathroom, if not a complete makeover. People like to see neutral colors and fixtures in bathrooms that make the space feel clean.

If you can relate to any of the scenarios on this list, it's time to make some home improvements. What other signs can you think of? 

Competitive Running Solutions for Tight Budgets

Running a marathon can be found on most bucket lists out there and since you and me both want to some day run an entire marathon, starting to plan ahead on equipment and training as well as marathon entry fees is something not only reasonable but mandatory. It is true that most of us believe running to be one of the most easily accessible sports because it mandates not fixed prices, no out of the ordinary equipment, no gym entry fees or other such costs, and in this you are right. You can be in your twenties, as well as be passed your 50s, it doesn’t matter: running is great and healthy for anyone. 

The issue with running is that when you decide to do it at a competitive level, meaning you are hell-bent on running an entire marathon, quality must trump quantity in anything you chose as equipment. And when marathon entry fees are as high as they are ( $255 for the New York City Marathon last year and $325 for the Caballo Blanco Ultramarathon) justifying such expenses when there are bills and other expenses to be taken care of surely becomes problematic. There are overwhelming lists of running equipment from shoes to GPS devices, special clothing, energy bars, energy gels, electrolyte tablets, iPods, wireless headsets- everything is available not only to make your run more enjoyable but also to reach even deeper into your purse. 

1. Shoes and clothing

Footwear is indeed the number one thing on your list: they come in different colors, shapes, sizes, thicknesses depending on whether you intend on running on grass or asphalt. And as with everything else, with novelty comes price. This year’s models will always be much more expensive than say last year’s ones: so try and buy in the off-seasons because more often than not you will find ridiculous discounts in the clearance sections.
There are also tons of fitness blogs out there such as http://www.runstopshop.com.au/orca-womens-compression-full-tight where you can find amazing equipment prices, tips and other type of information. The key is to be meticulous, search, search and search again because when you know your shoe model and size you can end up covering race entry fees with the money you save on equipment. Be sure to take care of your gear: many runners recommend that you not use the dryer for running clothing, they wear out significantly faster. Just gang-dry them instead, and you will see that they stay in better shape and wear out slower. 

2. Training and instruction

(Photo credit: Wikipedia)

For the running novice a few lessons might be needed to get him in the right direction but this can be challenging on a budget. So when a coach is not within your spending limits try to find like-minded people who have some experience and can give you some much needed tips. There are literally hundreds of blogs out there where you can read a lot of useful tips from seasoned professionals and trainers. 

3. Race entry fees

When getting started you might want to consider entering small races which always are more affordable (because organizers want to encourage more people to sign up). Asking for discounts is always a good idea since most of them offer student discounts or discounts for those who are already in retirement.

There are also pre-sign-ups where the fees are usually much lower than right before the race. You also avoid paying extra fees, so get informed and find the “early bird” discounts. And when planning for an expensive race you simply cannot find other discounts for you might find yourself having to pass on some smaller races in order to save up for the more expensive one. Planning is the key. 

4. Non-essentials

GPS devices, protein bars, energy drinks or gels, electrolyte tablets: some racers use them frequently so buying them will prove to be money badly spent. If you are into these items, try to buy them online, in bulk, consider pairing up with a buddy or two and save on shipping expenses.

As you see, with minor modifications here and there, you can surely have the experience of running a marathon and still be able to respect your budget. This does not mean that you cut back on quality, rather you pick the same quality, with no compromise but with a critical eye and some attention. Best of luck to you, be sure to share your times!

Life Insurance – A Must in Today’s Uncertain World

Is it a Necessity? 

Life certainly is uncertain and it might just be the opposite of what it is today. So you need to be careful and make sure that you add a security to your life and of those who are close to you, your dear ones. The best part about opting for a life insurance is that it will help you to retain a peace of mind and allow you to live your life to the fullest. So it might be said that yes, Life insurance is certainly a necessity, considering the uncertainties of life.

How many times in life have we seen that when the bread earning member of a family or a key person of a business dies, their family or the business gets affected to a great extent. 

Probable Solutions

This can however be avoided if we opt for a life insurance policy. With the help of a life insurance plan you can add security to your child’s education or the outstanding loan that you are repaying. It can also offer enough for one’s day care costs. Hence these are some of the advantageous aspects that one can reap with the help of a life insurance plan.

Let us now go through the things that must be kept in mind in order to choose an appropriate life insurance plan. The most useful thing that can help you to do so is a life insurance quote. In order to understand the merit of an insurance plan you need to make a close study on its various aspects. For example the premium that is to be paid the term of the insurance and the other terms and conditions. All these are clearly stated in a quote. Companies offer individuals the opportunity to get free life insurance quotes. While opting for quotes, one needs to be certain that the information that provide is true or at least they are not misleading. Companies might ask for your smoking habits or the family health history and other such related things. These information are vital in offering the best life insurance plans.

These are a few important things that should be borne in mind while opting for a life insurance quote. On a concluding note it must be said that owing to innumerable insurance companies it is always a good idea to ,make a thorough research to find a plan that is cut to our needs.

Are Mortgage Rates Higher for Investment Property?

If you ever applied for a new mortgage or refinance, one of the questions in the application is if the mortgage is for your primary residence, a vacation home or an investment. Why do they ask this question? It's because the way you use your property determines what your mortgage rate will be.

Homeowners will be happy to learn that primary residences are given the lowest mortgage rates. It has to be the home you live in or plan to live in. If you're buying a second home or a vacation property you're going to be paying a higher rate. On vacation property there are also stricter underwriting guidelines. So be ready for that. 

If you're applying for a mortgage for an investment property you will be paying an even higher mortgage rate. An investment property is defined as a property you intend to rent or one you intend to resell at a profit. Mortgages on investment property are considered risky, as result you will paying higher fees and making a much larger down payment.

A Mortgage on an Investment Property is more Expensive

It does cost you more to finance a rental property, but how much more? If you're a borrower with a FICO score of 680 you will paying an extra 3 points in fees for the mortgage in closing costs or have a higher rate that's between .375% - .5% higher. The reason rates are higher is the lender is taking on more risk and the buyer has to pay the lender for that extra risk. Extra Risk? Investment property with a mortgage is riskier for the lender because if loss of rental income or home values drop the rental property owner has no reason financially to continue paying the note.

Remember over the last few years the home default problems we have been experiencing has come from people buying second homes or investment property. People will stop paying their investment property note before the note on their primary residence.

What are the rules to Qualify for a Second Home Mortgage?

Lenders have to follow a set of rules for you to qualify for a Second Home mortgage. Also don't try to qualify your investment property as a second home, lenders have a set of rules that you must follow so that doesn't happen.

Rules to Finance Property as a Second Home

• The residence has to be far away enough from your primary residence. If it's in the same town it doesn't qualify. 
• You must reside in the property at least some part of the year. 
• It can't be a multi-unit bldg. It must be single-family residence. 
• It has to be a property that can be resided in year round. 
• It can't be a timeshare or have a management company have control over it. 

If you are buying or refinancing a mortgage for your second home there are no additional fees. But there are limits set by Fannie Mae and Freddie Mac for the amount of the mortgage.

No matter what type of property you need to finance, today is the best time to lock in your rates. It's not going to get any lower than it is now.

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How to Successfully Overcome Financial Issues

As society has evolved to accommodate more and more comfort, security and pleasure seeking, our fears have also evolved accordingly, and at the top of them is our fear of financial insecurity. The fact is that every endeavor we undergo is to some extent connected with our desire to reach a level of financial security where day to day life no longer comes with the burden of needing to find other ways of making ends meet. 

It is also understandable that in today’s financial climate, the anxiety about not having enough to cover basic needs is top concern for the majority of the world’s citizens, no matter which country or continent. And when the biggest fear we’ve faced our entire lives greets us at the door as we are served with an eviction notice, lose our jobs or find ourselves buried under a mountain of debt, it seems we can’t fight the feeling of being overwhelmed. 

Step 1: Access your Income and Beware of Debts

The truth is that it really lies in your control that you get out of debt. While general recommendations like creating plans for reducing the debt or increasing your income are certainly welcome, the idea is to systematically go through a set of steps that will bring you closer and closer to your desired goal.

The most important thing is to realistically assess your steady income and then determine which of that is being spent and on what. This means listing not only fixed expenses like gas, telephone or electricity bills, but also those that vary (such as recreation, clothing, gifts, entertainment). After having made your list, prioritizing and tracking what you have spent will come much easier. 

Step 2: Seek Advice from Professionals

The next step is to consider seeking financial advice from a reputable credit or financial counselor. There are many programs that offer lists of certified advisers. He will need to receive all the information you have gathered thus far, from your expense lists, to bills, debt lists, financial assets and anything you consider relevant to your situation. Then set a goal that you and your credit adviser wish to reach. Usually this is establishing a reasonable budget that can allow you to get your finances under control and reduce your debt all at the same time. If such an adviser is not within your reach, check out debtconsolidation.com.au where you can find countless information and tips on how to create such a plan yourself. 

Step 3: Make a Payment Plan

Contacting your creditors to set up a reasonable payment plan which is manageable is the next step you need to take. The home mortgage is the priority in this case. Many Americans for instance are unable to play their mortgage- but contacting the lender right at once will help you avoid foreclosure.

You will be surprised to see that many of them are open to cooperation when they see the situation is temporary and that you are actively involved in resolving the situation as fast as possible. There is the possibility of reducing the monthly sum by extending repayment periods, suspending payments for a determined period or not needing to pay additional amounts when resuming payments. With car loans, since a creditor is allowed to repossess the car at any time after the payments have stopped, the reasonable measure is to sell the car, pay back the debt and avoid added costs of repossession and negative credit reports. 

Step 4: Successfully Manage Your Debts

Debt consolidation through a second mortgage or other types of equity lines of credit may help you sink the cost of your credit but at the price of your house as collateral. There are positive and negative aspects related to these types of credits, you can obtain great tax advantages that are usually unavailable with other kinds of credits but you can end up paying “points” (a point is 1% of the total amount you borrowed).

Conclusion

As an absolute last resort, filing for personal bankruptcy may be an option if everything else has failed but the consequences will haunt you and are severe. The idea behind it is that it is decided in court that you are no longer mandated to repay certain debts but this information remains in a credit report for 10 years and this might make buying a home, getting another credit, and even getting a job difficult.

It is important that you maintain a positive attitude in this situation that would indeed turn any man’s nights into restless and full of doubt. In most cases the doubt situation is resolved and with a revised payment plan you are well on your way to getting back on your feet.