Should You Buy a Cul-de-Sac House?

The cul-de-sac home has been a symbol of traditional suburban life for decades. While cul-de-sacs have been built for centuries in the form of dead-end streets, they are commonly built nowadays for other reasons—one of which is to alleviate vehicle traffic.

Basically, a cul-de-sac is a street that has only one inlet/outlet. They became popular in America cities after World War II, and they are a classic symbol of suburban life. However, lately cul-de-sacs have been viewed in a negative light by some urban planners. But the popularity and charm of the cul-de-sac will always be present with homebuyers, and for good reasons.

If you’re thinking about buying a cul-de-sac home, here are some pros and cons that you should consider:

Pros

Privacy- Cul-de-sac homes offer more privacy than others because most of the traffic will come from the people that live in the cul-de-sac itself.

Good for families- Less traffic means a safer play area for children. Plus, many families who live in the same cul-de-sac often become tightly knit.

Good resell opportunities- Buyers will pay 20% more for cu-de-sac homes. (Hopefully you won’t have to when you initially buy!) But this is good news if and when you decide to resell.

Cons

More driving- It’s rather difficult to get anywhere without driving when you live in a cul-de-sac because you have to funnel the roads to get to the main road. Traffic can be a challenge once you get to the main trunk.

Less privacy- While you have more privacy from other traffic and pedestrians, you are basically living in close proximity to at least five other homes when you buy a home in a cul-de-sac. All of your neighbors will know a great deal about you.

Vehicles turning around- Many cars will drive to the cul-de-sac to turn around, and this extra traffic can pose safety issues for children who are playing.

 

Costs Involved With Homebuying

So you’ve decide to buy a home. Congratulations! Before you go shopping for the home of your dreams, you should know that homebuying involves more than simply picking out a home and paying for it. There are many costs and expenses you need to know about before you sign on the dotted line. It is wise to be prepared and know the costs ahead of time so that you can budget accordingly.

Here is a list of expenses that every new homeowner should expect and budget for:

Homeowner’s insurance- While many home buyers don’t think about it initially, insurance is necessary to protect your property in case of fire and inevitable disasters. The cost varies from company to company, and it also depends on type of policy that you need.

Moving expenses- As you probably may already know, moving can be very expensive. From packing supplies to a moving van, the expenses can run well into the hundreds of dollars. The cost will be higher if you need to hire a moving company, and it also depends on how far you are moving.

Upgrades- Your new home may not come with the appliances and features that you desire. The base price may not include the finishes and flooring that the model home. Countertops, cabinets, marble flooring, crown molding and other fixtures may not be included with the house that you fell in love with.

Necessities- You may need to have things like window coverings, fences, gates and doors installed that weren’t included on the property. Even smaller expenses like mailboxes and having the locks changed can add up for a new homeowner.

Landscaping and gardening- While perfectly cut green grass and flowers are beautiful, they can be a big expense that adds up. If you can handle the workload, you will save money, but you still need the appropriate equipment. It should go without saying that the bigger your yard and lawn are, the more money it will cost in the upkeep and maintenance. Fertilizer alone is quite expensive, not including the tools. You can hire someone to do the job on a regular basis, but naturally it is much cheaper to do it yourself.

Cable, phone and internet services- Many people don’t account for the transfer of these services, and there are additional costs for companies to set up your services in your new home.

Décor and furniture- Of course you will want to decorate your new home as soon as you move in to give a personalized look and feel. You’ll need items such as blinds, draperies and rugs to create a lived-in environment. Chances are good that you are moving to a bigger home, so you will probably need to fill it with more furniture.

Safety Tips for Online Mortgage Refinancing

Mortgage refinance loans are a fast pacing trend in today’s consumer loan markets. Home prices almost always stay high. So many homeowners use the option of refinancing their mortgages or opt for a home equity loan. Online mortgage lenders have used quite a few innovative methods to make the application process easier and simpler. But as you know, shopping online can be quite a tricky business at times. Risks are always involved. To keep your transactions and personal information secured online, our market experts have provided some helpful suggestions and guidelines. 

Know whom are you dealing with

Before you click on the “apply now” button for a mortgage refinance loan, check and verify the respective lender’s credentials. As a worldwide common practice, websites usually post this information on an “About us” page. This page will mostly provide details such as company background, management hierarchy, certifications, and other mortgage sales experiences. If you are unable to verify any lender’s certifications, directly contact them or check with any of the mortgage related government agencies for verification. Genuine lenders will gladly provide all the relevant information for you to verify their credentials and certifications. They are aware of consumer’s concerns over online transactions.

The brand name

In online shopping, the branded firms get most of the business. People usually trust familiar and known names. Popular sites are known for providing excellent security features, which results in generating more traffic on their portals. The more recommended your online lender is, the better security they’ll have to offer. This does not mean that small time merchants are a taboo. They have secured connections and possibly lower rates too. So, do lookout for brand names, but also keep an eye on the small dealers.

The “S” of security

While applying online, look for two highly important and easy-to-identify security features on the web pages. A closed padlock or an icon of a key signifies that security options are enabled for the website. Also, on the address bar where you type the website name/URL, instead of “http” there will be “https”

For example: https://www.lenderxyz.com

These sites use an encryption service and have a link or a page dedicated to show the details about the connection.  But still, always be careful while filling out application forms; especially, the ones which ask for information such as your date of birth. These little pieces of personal information can be used by credit card scammers and other illegal activities. If you’re suspicious about a particular website, but they have been highly recommended, then contact them and ask for an executive to discuss their privacy policies.

Keep yourself updated

Keep checking for articles to educate yourself and to stay updated on the latest information about the online mortgage refinancing process. There a lot of websites which guide you through the process of home equity loans, mortgage loans and mortgage refinancing. Professional lenders are prompt with helpful advices and up-to-date information. They even conduct seminars and provide active online assistance to answer your queries.

Initially, taking precautionary measures might feel to be a little time consuming but, as the saying goes, better be safe than sorry.

So, keep these suggestions in mind while applying and working with online lenders for mortgage refinancing, and have a safe and satisfactory web experience.

 

Summer Home Improvement Ideas

Now that the weather is finally getting warmer, it’s time to think about what kind of summer home improvements you’d like to make. Not only can summer additions and improvements add to the value of your home, they can make your house much more desirable to potential buyers should you decide to sell in the next few years.

Let’s take a look at some cool summer home improvement ideas that are sure to make your home more enjoyable for years to come:

Pool

What could be better than a new pool for summer? It’s a fact that pools are extremely desirable home features for buyers. Be sure to figure out your budget as pool additions can get pricey, especially when it comes to pools that are below the ground.

New roof

The installation of a new roof should be done in warmer weather, and the summertime is perfect! The sun’s rays are warm enough to melt the tar paper so that it bonds. A new roof can give you peace of mind plus add great value to your home.

Sunroom

Enjoy the sun’s warm rays with the addition of a cool sunroom. Glass walls with screen options are a good idea when considering sunroom addition. The sunroom can even act as a family or reading room during the winter months.

Exercise room

Don’t pay for the gym anymore! Take that spare bedroom  and transform it into a calorie-busting gym. Your health will appreciate it, and so will potential buyers.

Backyard deck

A deck addition is most likely that biggest remodel that you can make for the summer. This is true whether you are remodeling an existing deck or building a new one from scratch. Keep in mind a deck addition takes a great deal of planning.

 

Common Refinancing Myths

Refinancing is increasingly getting difficult and this trend is expected to prevail for a while before rates climb down and homeowners return to the market. Refinancing qualifications have become rather challenging. Conventional credit profiles are being scrutinized more. People with little or no home equity are at a loss on how to put their refinance plans into motion.

Here, we discuss some basics of refinancing. More importantly, we clarify some common refinance myths:

Myth: Refinance Eventually Leads to Losing Equity

Truth: This is a common misconception. Refinance doesn’t eat into your equity. In fact, it helps you save more over a longer period. This is true unless you opt for cash-out refinance where the loaned principal amount is raised. Secondly, some folks don’t understand the concept of building equity. Refinancing requires some strategy if you are serious about increasing your equity. More equity doesn’t mean getting a gift check from your lender or paying progressively lesser on your original loan.

Mortgage payments are made up of two parts. One part goes to your principal and the other towards the interest. If you find a refinancing option with no prepayment penalty, additional payments to decrease the principal helps. It allows you to create more equity. The refinance allows you to pay off the home loan in lesser time than the original loan period with negligible changes to your monthly payment pattern—these are significant savings!

Myth: Refinancing Before Reaching Breakeven Doesn’t Make Sense

Truth: This refinancing myth is the result of incorrect interpretations of breakeven period. Sometimes, rates drop to an irresistible low, luring people into refinancing aggressively. Some people start questioning the wisdom of refinancing when the breakeven of the previous loan hasn’t been fully realized.

People don’t look at the bigger picture. If the interest rate can be lowered to such an extent that you can absorb the new breakeven period and still get more equity, you should go for it! To avoid such confusions, follow the simple rule of keeping your refinancing decision one dimensional. If you can lower your rate without the need to repay more, you stand to gain. Please note that the best rate for you might not be the lowest rate in the nation. It is simply the best available option among the many mortgage quotes you receive.

Myth: Refinance Always Leads to Higher Closing Costs

Truth: Yes, refinancing helps you get some equity in times of crisis. Equally true is the fact that refinancing brings along some additional costs that aren’t always visible. Refinance calculations work out better in the customer’s favor when the credit amount is big. A slightly longer, bigger refinance helps to neutralize the high closing costs.

Before jumping on to conclusions work out the true cost of your refinancing proposal. Every refinanced mortgage comes with a GFE—Good Faith Estimate where the total closing cost is mentioned. This figure can be slightly confusing. Usually, it includes many components for which a borrower would be paying anyway. This includes partial or prepaid month interests, escrow property taxes, and escrow homeowner insurance. Besides these, other components such as documentation fees, application fee, credit report fees, and title insurance make up the true cost of refinancing.

Myth: Repeated Refinancing Approvals are Simply Impossible!

Truth: Refinancing isn't refused just because a borrower had refinanced in the recent past. There are no mortgaging or federal laws which limit lenders from lending to people who repeatedly refinance. Yes, the success rate for such refinancing applications might be lower, but the market understands that whenever lending rates are lower, refinancing will be in demand.

 

Some lenders prefer profiles where the customer has waited for a certain period before seeking another refinance. Some borrowers prepay on their existing loans to get a low rate refinance. Though there is nothing wrong with this strategy, it could lead to some losses. We recommend keeping a check on the prepayment penalties that have huge regional fluctuations. Prime mortgages are usually without substantial prepayment penalties.

How to Fix Squeaky Floors

Squeaky floors can be quite irritating. Also, they will reduce the value of your home when it is time to sell. When the floor sheets rub against one another, they produce an irritating noise. This is the reason behind squeaky floors. If you can prevent the panels from moving, you can stop the noise. That is the only remedy.

If noisy floors have been destroying the peace and quiet at home, you should try these simple steps to restore peace instantly.

What causes noisy floors?

Noisy floors are a common problem. This is almost always caused by improper installation of the panels. If floors are not installed properly, they can buckle or squeak. Nails might even pop. Fortunately, preventing these problems is relatively easy. Here is a step-by-step guide to fixing noisy floors.

Choose the right materials

Any lumber that you use for flooring must be dry. Green lumber is not dimensionally stable. Its size may shrink when it dries. As green lumber dries, it may cause nail pops. This creates ugly bumps under the flooring and also causes squeaking. In addition it accelerates wear and tear.

Engineered wood dries up during just the production stage. When these wooden panels are properly installed, they will not cause nail pops. While selecting the panel for your floors, you should consider finish flooring, joist spacing, applied load, and floor system.

Allow proper panel spacing

Engineered wood is dry when it leaves the factory. However, these panels will eventually absorb moisture and expand. While installing them, ample space should be left between the panels to allow for expansion. If there is no room to expand, the panels may buckle and then you will hear the noise. According to APA, ¹/₈^th of an inch should be left at all end joints and sheathing.

Ideally, you should let the panels acclimatize before they are installed. This will further reduce the potential for buckling. You can acclimatize panels by letting them stand on their edge for a few days. This arrangement allows ample air circulation.

Choose the right adhesives

If you use glue to keep panels in their place, you should choose an adhesive that meets the APA Performance Specification ASTM D3498 or AFG-01. The adhesive can dry out faster, so you should spread only enough adhesive to lay 1 or 2 panels at a time.

Before applying the adhesive, you should wipe away dust, debris and water. This is necessary to ensure that the boards will be properly secured to their joists.

Use ample amount of glue. Glue should be applied in a serpentine fashion in wide areas. All tongue and groove joints should be glued together by spreading the adhesive in the groove.

Each panel should be nailed before the adhesive sets. Note that adhesives tend to set faster in warm weather.

Nail panels correctly

Choosing nails of the right size is essential. The correct spacing and nail size depend on the thickness of your panel and joist spacing. You should also take into account the unique nature of the panel product you use.

Noisy floors are a headache, but by taking some simple steps you can easily solve this problem.

How Much Home Insurance Should You Get?

Homeowners seek to cover risks associated with damage to their property by buying homeowners insurance. However, not many homeowners have clarity regarding how much home insurance they should purchase. Most of them buy too much while some undervalue the risk proposition. There are no one-size-fits-all packages for the home insurance niche. The reason is simple—every home presents a totally different demographic. This includes parameters like overall safety associated with the neighborhood, geographic and climatic conditions, structural aspects, and household incomes. Here, we will help you understand the finer aspects of buying adequate and relevant home insurance.

Understand Your Home Insurance Premium

Most home insurance premiums are the collective sum of payments charged for the following type of coverage:

• Dwelling—this means paying for different types of damage to the main structure, the home, and some attached constructions like a garage.
• Loss of Utility—this part of premium partially covers your living costs when the home is rendered uninhabitable. For instance, widespread mold growth can leave your house dangerous to inhabit.
• Personal possessions—here, you pay for household items of value which can be stolen or damaged.
• Personal Liability—this payment ensures coverage in case you are held responsible for injury to someone on your property.
• Medical Expenditures—along with personal liability coverage, this takes care of medical bills of the person injured on your property.
• Other Important Structures—this payment is to cover damage to external, non-primary structures like fences.

Among these, dwelling coverage and personal possession coverage together form the biggest part of the premium. Dwelling coverage is the most basic, critical aspect of home insurance. Most households want a dwelling coverage sufficient to replace their entire home.

Personal Possessions: How much is good enough?

Coverage for personal possessions is often an argued part of home insurance. Though important, approximating the right value for various things in your home can be challenging. If you have lots of electronics items and valuable like paintings, expensive furniture, etc. ensure that the possessions coverage is close to the dwelling coverage. We suggest you keep the personal possessions coverage at about 50 percent of the dwelling coverage. This can go up to 60 percent in some cases.

Coverage that Compensates for Inflation: Ever thought about it?

Look at the last decade and it will become clear that nearly everything has become expensive. However, people forget that the same applies to the cost of construction. Supplies and professional labor is getting expensive with every passing year. So, what if you ever need to rebuild your home? Is your home insurance capable to cover for the rising cost of construction? Rather than thinking only about the current and near-future market value of your home, calculate the construction costs too. Your home insurance should be sufficiently spread to cover hikes in prices of property construction.

Standard Homeowners Policy Sounds Good? Think Again!!

Most standard home insurance policies don’t cover damage to property caused by floods! Though a natural cause, floods-related damages remain outside the realm of standard coverage. Check if your home insurance policy provides coverage against flood—don’t assume you have it. If not, ask for this coverage that is usually sold as an additional/add-on policy to the package. However, don’t be blinded by what insurance agents say about natural calamities. Do some basic research about flood-related susceptibility in and around your area. It is possible that you inhabit an area without any history or probability of floods.

Liability Coverage: Do you really need it?

Liability coverage is among the most commonly neglected aspects of home insurance. It seems people ignore the possibility of someone getting hurt on their property. This approach can have disastrous results. If sued, the financial damages can ruin you. It is better to pay a bit beyond your level of comfort to protect yourself. High net worth households are often recommended buying an umbrella policy. This comprehensive form of liability coverage covers most types of injuries sustained on any part of the property.