Are you a first-time home buyer trying to get into the market?
Here are steps to take to help you decide whether you're ready to take the plunge.
1. Check the selling prices of comparable homes in your area. You can do a quick search of MLS listings in your area.
2. See what you can afford. Find out what you would have to pay on your mortgage.
3. Find out what your total monthly housing cost would be, including taxes and homeowners insurance. In some areas, what you'll pay for your taxes and insurance can almost double your mortgage payment. To get an idea of what you'll pay in insurance, pick a property in the area where you want to live and make a call to a local insurance agent for an estimate. You won't be obligated to get the insurance, but you'll have a good idea of what you'll pay if you buy.
4. Find out how much you'll likely pay in closing costs. The upfront cost of settling on your home shouldn't be overlooked. Closing costs include origination fees charged by the lender, title and settlement fees, taxes and prepaid items such as homeowners insurance or homeowner’s association fees.
5. Look at your budget and determine how a house fits into it.
6. Talk to reputable real-estate agents in your area about the real-estate climate. Do they believe prices will continue falling or do they think your area has hit bottom or will rise soon?
7. Remember to look at the big picture. While buying a house is a great way to build wealth, maintaining your investment can be labor-intensive and expensive. When unexpected costs for new appliances, roof repairs and plumbing problems crop up, there's no landlord to turn to, and these costs can drain your bank account.
Welcome to the Lake
Monday, June 8, 2009
Monday, June 1, 2009
Make your home a smarter home (or cottage)
10 weekend projects to make yours a smarter home
For the most part, having a smart home is simply a matter of energy efficiency. These projects, plus 14 quick tips, will help you save both energy and money.
By Popular Mechanics
Kitchen
1. Find sustainable finishes.
Kitchen upgrades offer a chance to choose products made from recycled or renewable materials. Consider a stone countertop made with recycled glass, a sustainable cork or natural linoleum floor, or cabinetry made from formaldehyde-free plywood.
2. Go chemical-free.
Caustic chemicals will partially dissolve a clog, but they contaminate water supplies and the fix won’t last. Instead, turn to the sink plunger — its flat bottom sits flush with the sink, unlike a bell-shaped toilet plunger. Before snaking a drain or removing the sink’s trap, try using needle-nose pliers or creatively bent coat hangers.
_________________________________________________
more on PopularMechanics.com
19 ways to slash your utility bill
Save money by sealing leaks and drafts
PM war journal: A day at Forward Operating Base Salerno
Gallery: 10 geeky ways to deliver mail
Read more from Popular Mechanics
_________________________________________________
Living room
3. Build better fires.
To boost efficiency in the fireplace, begin by replacing the leak-prone midchimney “throat” damper with a “top-sealing” or “chimney cap” damper. This opens, shuts and seals like a storm door for the chimney. Then add a fireback — a handsome iron plate that protects firebox brick and radiates heat into the room. A fireplace heater will distribute the fire’s warmth by circulating air into the fireplace. A heat exchanger warms the air and fans blow it (smoke-free) back into the room, increasing the fireplace’s efficiency from 5% to 65%. If you don’t use your fireplace at all, contact the National Chimney Sweep Guild to find a certified contractor to seal your flue, which will prevent heat loss through the chimney.
4. Upgrade the thermostat.
Nearly half of the average home’s $2,000 annual energy bill goes toward heating and cooling, but a programmable thermostat can reduce that figure by about $180. Instead of a seven-day model, opt for a five-plus-two-day one — this will allow you to program the temperature for different weekday and weekend schedules, maximizing comfort and efficiency.
Basement
5. Insulate the edges.
Sealing a basement’s perimeter walls with a vapor barrier and insulation helps heating and cooling systems work less hard to maintain indoor temperature and humidity. Insulate the ceiling’s joist bays against the foundation walls with expandable foam for an airtight seal. Then spray foam to plug up gaps where pipes and vents exit the house.
6. Heat water wisely.
Use foam jackets to insulate exposed hot-water pipes within 5 to 10 feet of the heater. Gas users can upgrade to fuel-saving tankless heaters; electric users should add timers so water stays hot only when it’s needed.
Attic
7. Ventilate the space.
Install inconspicuous ridge vents that run the length of the attic’s peak. These work with soffit vents to cool the attic in summer; in winter, an exit route for warm air reduces the risk of leak-causing ice dams.
8. Cut air conditioning consumption.
Whole-house fans pull in outside air through the downstairs windows and push out hot air through the attic vents, cooling your house at a fraction of the cost of central air conditioning. Effective except on the most stifling summer days, the typical whole-house fan consumes less than 600 watts, but a 5-ton central air unit can draw more than 6,000. Solar-powered attic fans are very efficient, too, but ventilate only the attic space, not the living area.
Yard
9. Make decks last decades.
Composite decking built with recycled plastic uses waste headed for a landfill. Redwood, cedar and ipê (pronounced ee-pay) naturally resist rot and can last much longer than pressure-treated wood. But buy only lumber certified “Pure” by the Forest Stewardship Council — there are no bad species, just bad forestry.
10. Add an awning.
Decks reflect the sun’s rays into your house, but adding shade above nearby windows and glass doors can reduce heat intake by up to 77%. In the summer, a retractable awning cuts an adjacent room’s air conditioning use by nearly 25%. It rolls out of the way in the winter to allow warm sunlight in.
14 steps to take today
Stroll through your home with Popular Mechanics’ list of low-cost (or free!) upgrades, making quick fixes as you go.
Turn down the water heater: Lower the temperature to 120 F, and for every 10-degree drop, you recoup 3% to 5% of the power bill. No temperature dial on the tank? Check the temperature at the tap farthest from the heater.
Unplug appliances: Turn off power strips or pull the plug on appliances completely. Idle machines suck up 11% of your home’s electricity.
Clean your dryer: Slip a shop-vacuum hose into the dryer’s guts to remove lint wads and boost efficiency. Use an electric leaf blower to clear lint from vents that lead to the outside. It’ll work like new.
Optimize heating and cooling: Move furniture and rugs away from vents and radiators. Run a fan with the cooling system raised 2 degrees to drop cooling costs by 14%.
Drip-irrigate beds: Line gardens with hoses — no sprinklers, no hassle. Use mulch to retain moisture, and set timers to water in the morning.
Adjust mower blades: Cut no more than one-third the grass blades’ height — this helps your lawn develop strong roots, remain moist and absorb runoff.
Trust the dishwasher: Fully loaded, the dishwasher uses less water than hand-washing dishes. Save power by using the air-dry mode, not heat.
Insulate the attic hatch: Keep the conditioned air downstairs by weatherstripping the attic hatch’s edges. Cover the hatch with rigid polystyrene insulation.
Use small appliances: Downsize your cooking device: Toaster ovens consume half the energy of a full-size electric oven; microwaves use only one-third.
Install storm windows: Storm windows reduce heat loss through windows by 25% to 50%. Magnetic internal storm windows go up without a ladder.
Streamline the fridge: Fridges work best at about 38 F; freezers should register between 0 F and 5 F. Leave a thermometer inside for 24 hours, then check it.
Keep filters clean: Pleated electrostatic filters catch up to 60% of allergens (blue fiberglass ones catch only lint and dust). Change them every two to three months or as soon as they show discoloration.
Draw the curtains: Cover windows to prevent air loss. Curtains engineered for insulation multiply the R-value (a measure of thermal resistance) of standard insulated glass.
Fix a leaky toilet: Drop food coloring in the tank; if it ends up in the bowl, there’s a leak. Replacing the flapper can save thousands of gallons of water a year.
For the most part, having a smart home is simply a matter of energy efficiency. These projects, plus 14 quick tips, will help you save both energy and money.
By Popular Mechanics
Kitchen
1. Find sustainable finishes.
Kitchen upgrades offer a chance to choose products made from recycled or renewable materials. Consider a stone countertop made with recycled glass, a sustainable cork or natural linoleum floor, or cabinetry made from formaldehyde-free plywood.
2. Go chemical-free.
Caustic chemicals will partially dissolve a clog, but they contaminate water supplies and the fix won’t last. Instead, turn to the sink plunger — its flat bottom sits flush with the sink, unlike a bell-shaped toilet plunger. Before snaking a drain or removing the sink’s trap, try using needle-nose pliers or creatively bent coat hangers.
_________________________________________________
more on PopularMechanics.com
19 ways to slash your utility bill
Save money by sealing leaks and drafts
PM war journal: A day at Forward Operating Base Salerno
Gallery: 10 geeky ways to deliver mail
Read more from Popular Mechanics
_________________________________________________
Living room
3. Build better fires.
To boost efficiency in the fireplace, begin by replacing the leak-prone midchimney “throat” damper with a “top-sealing” or “chimney cap” damper. This opens, shuts and seals like a storm door for the chimney. Then add a fireback — a handsome iron plate that protects firebox brick and radiates heat into the room. A fireplace heater will distribute the fire’s warmth by circulating air into the fireplace. A heat exchanger warms the air and fans blow it (smoke-free) back into the room, increasing the fireplace’s efficiency from 5% to 65%. If you don’t use your fireplace at all, contact the National Chimney Sweep Guild to find a certified contractor to seal your flue, which will prevent heat loss through the chimney.
4. Upgrade the thermostat.
Nearly half of the average home’s $2,000 annual energy bill goes toward heating and cooling, but a programmable thermostat can reduce that figure by about $180. Instead of a seven-day model, opt for a five-plus-two-day one — this will allow you to program the temperature for different weekday and weekend schedules, maximizing comfort and efficiency.
Basement
5. Insulate the edges.
Sealing a basement’s perimeter walls with a vapor barrier and insulation helps heating and cooling systems work less hard to maintain indoor temperature and humidity. Insulate the ceiling’s joist bays against the foundation walls with expandable foam for an airtight seal. Then spray foam to plug up gaps where pipes and vents exit the house.
6. Heat water wisely.
Use foam jackets to insulate exposed hot-water pipes within 5 to 10 feet of the heater. Gas users can upgrade to fuel-saving tankless heaters; electric users should add timers so water stays hot only when it’s needed.
Attic
7. Ventilate the space.
Install inconspicuous ridge vents that run the length of the attic’s peak. These work with soffit vents to cool the attic in summer; in winter, an exit route for warm air reduces the risk of leak-causing ice dams.
8. Cut air conditioning consumption.
Whole-house fans pull in outside air through the downstairs windows and push out hot air through the attic vents, cooling your house at a fraction of the cost of central air conditioning. Effective except on the most stifling summer days, the typical whole-house fan consumes less than 600 watts, but a 5-ton central air unit can draw more than 6,000. Solar-powered attic fans are very efficient, too, but ventilate only the attic space, not the living area.
Yard
9. Make decks last decades.
Composite decking built with recycled plastic uses waste headed for a landfill. Redwood, cedar and ipê (pronounced ee-pay) naturally resist rot and can last much longer than pressure-treated wood. But buy only lumber certified “Pure” by the Forest Stewardship Council — there are no bad species, just bad forestry.
10. Add an awning.
Decks reflect the sun’s rays into your house, but adding shade above nearby windows and glass doors can reduce heat intake by up to 77%. In the summer, a retractable awning cuts an adjacent room’s air conditioning use by nearly 25%. It rolls out of the way in the winter to allow warm sunlight in.
14 steps to take today
Stroll through your home with Popular Mechanics’ list of low-cost (or free!) upgrades, making quick fixes as you go.
Turn down the water heater: Lower the temperature to 120 F, and for every 10-degree drop, you recoup 3% to 5% of the power bill. No temperature dial on the tank? Check the temperature at the tap farthest from the heater.
Unplug appliances: Turn off power strips or pull the plug on appliances completely. Idle machines suck up 11% of your home’s electricity.
Clean your dryer: Slip a shop-vacuum hose into the dryer’s guts to remove lint wads and boost efficiency. Use an electric leaf blower to clear lint from vents that lead to the outside. It’ll work like new.
Optimize heating and cooling: Move furniture and rugs away from vents and radiators. Run a fan with the cooling system raised 2 degrees to drop cooling costs by 14%.
Drip-irrigate beds: Line gardens with hoses — no sprinklers, no hassle. Use mulch to retain moisture, and set timers to water in the morning.
Adjust mower blades: Cut no more than one-third the grass blades’ height — this helps your lawn develop strong roots, remain moist and absorb runoff.
Trust the dishwasher: Fully loaded, the dishwasher uses less water than hand-washing dishes. Save power by using the air-dry mode, not heat.
Insulate the attic hatch: Keep the conditioned air downstairs by weatherstripping the attic hatch’s edges. Cover the hatch with rigid polystyrene insulation.
Use small appliances: Downsize your cooking device: Toaster ovens consume half the energy of a full-size electric oven; microwaves use only one-third.
Install storm windows: Storm windows reduce heat loss through windows by 25% to 50%. Magnetic internal storm windows go up without a ladder.
Streamline the fridge: Fridges work best at about 38 F; freezers should register between 0 F and 5 F. Leave a thermometer inside for 24 hours, then check it.
Keep filters clean: Pleated electrostatic filters catch up to 60% of allergens (blue fiberglass ones catch only lint and dust). Change them every two to three months or as soon as they show discoloration.
Draw the curtains: Cover windows to prevent air loss. Curtains engineered for insulation multiply the R-value (a measure of thermal resistance) of standard insulated glass.
Fix a leaky toilet: Drop food coloring in the tank; if it ends up in the bowl, there’s a leak. Replacing the flapper can save thousands of gallons of water a year.
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