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Posts by mary.w

Baby Boomer? Yes You Can Stay in Your Home!

Oct18
2018
Written by mary.w

So, you bought your home in 1980 for $50,000 and now it’s worth a whopping $400,000! Woo Hoo you’re living on easy street, right? Possibly not so much. Just because your home’s value has increased doesn’t mean that your costs of staying there and maintaining that home haven’t done the same. If you’re over 65 and living on a fixed income you may be actually struggling to make ends meet.

It’s actually true that for many Baby Boomers, their home’s equity is their only and most valuable asset. But what if you don’t want to move? What if you want to stay in the home where you raised your family and now enjoy watching your grandkids grow when they come to visit Grandma and Grandpa? There are a few options for you to explore, the best one for you being determined by your needs, wants and qualifications. Here are some options for you to investigate:

  • Home Equity Credit Lines
  • Refinancing Your Current Mortgage to Provide Yourself a Cushion Fund
  • Reverse Mortgages (currently new types and more flexible options than the original format you see on a lot of commercials)

Using one of these options means that once funded, you can use the money as you deem necessary: to pay for in home care, get that necessary new furnace or roof, home maintenance or lawn care (if you no longer can do these yourself), or to even just be able to do things for and with your grandkids.  For help deciding which might be best for you, talk with your financial advisor if you have one or contact the Federal Trade Commission either by phone or online and request information regarding the different options. Do your due diligence and then live in your home, your way so you can relax and enjoy your senior years!

Posted in General Information, Tips and Ideas, Uncategorized
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Update Your Kitchen & Baths w/One Simple Change

Oct11
2018
Written by mary.w

SINKS! They can look ordinary and blend into a Kitchen or Bath OR they can help define the space as updated, upgraded and fabulous! With all the big box stores and online shopping options, this can be done at a minimal cost.

Add Glamour and Eclecticity with a Vessel Sink. Styles vary enough to allow you to blend with your existing Bathroom decor. A simple fix for a stylish update!

v vessel index

Add Charm and a Country Feel w/a New Kitchen Farm Sink! Very Popular Styling!

th farmStainless is a great way to add Farm Charm into a more modern Kitchen. Porcelain goes great with more traditional wood cabinetry. Adding a high arc faucet instantly upgrades your look!

 

Clean and Stylish Stainless is Great in Both Under and Over Mount Styles. Undermount will cost more to install than Overmount.

ovooOvermount can be upgraded by switching to one bowl vs traditional two. Also very popular upgrade is to use the square shape vs traditional rounder bowls. Upgrade the more traditional two bowl sink by upgrading with a hi arc faucet.

Undermount sinks are more costly but will be worth the investment for a clean sleek look!

k 4

To further enhance this look, add a stylish high arc faucet. Many are available at big box stores at very reasonable prices.

 

Whatever style you choose, if you want to upgrade and update your Kitchen and/or Baths, while staying true to your budget, consider a new sink (and faucet)! Create a great updated look without exploding your budget!

Posted in Uncategorized
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Pros & Cons of Moving to a 55+ Active Adult Community

Oct08
2018
Written by mary.w

So, you’re thinking of retiring, downsizing or just trying a new adventure and you’ve heard that a 55+ community might be a great option. But is it right for you and your lifestyle? Let’s explore some pros and cons to help you decide.

Advantages of 55+ Active Adult Communities

  • Security is a common reason many people give for choosing to live in a 55+ community. Many are gated w/24 hour manned gated entry plus security patrols while others have unmanned yet still secure gated entry to the neighborhood.
  • The opportunity to meet other people in the same age group with common interests and enjoy an active social life is a huge draw to these communities.
  • A vast array of social activities within the community ie: golf, tennis, swimming, live theater, games (cards, board games, outdoor games such as bocce, horseshoes, etc) art classes, wine tastings, hobbies, book clubs and much more provide a constant ‘active’ lifestyle.
  • Very often lawn care, exterior home maintenance and security alarm systems are all included in the HOA fees.
  • Many housing options include single family homes, townhomes and condos, many with handicap accessible features.
  • Depending on where you live, many 55+ communities are very close to shopping, dining, entertainment and medical facilities. Plus many of these communities offer free transportation to all  these amenities.

Wow…right? Why wouldn’t everyone want to move right in?! Well, let’s review some reasons why this might not be the option for you.

Disadvantages of 55+ Active Adult Communities

  • Many people, even retired folks, love living in the diversity of a neighborhood consisting of all age groups from infants to elderly. The restrictions of a 55+ community most likely will very quickly override the positives listed above.
  • Many Active Adult Communities have strong restrictions with regard to adult children or grandchildren living with them or even in some cases restrictions on extended visits. It’s important to completely understand these bylaws before buying and moving into an age restricted community.
  • If you’re in your 50’s or 60’s you might not be happy in a community that caters more to retirees in their 70’s, 80’s or older. Do your homework before you buy!
  • One of the biggest disadvantages of many 55+ communities is that, due to the vast level of amenities, the HOA fee might be very high. If you’re only interested in one of two of the activities offered, you might want to consider either a different community or a regular neighborhood otherwise you may end up spending a lot of your savings on activities you never use.

So, is a 55+ Active Adult Community a good option for you? Only you can decide. What’s good for your close friend might be a horrible choice for you. Explore fully what the communities you’re considering offer and determine if they will enhance or inhibit your desired lifestyle. Then move forward with confidence into the next phase of your life journey!

Posted in Buying Tips, General Information, Uncategorized
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The Season Has Changed So Update Your Strategy!

Sep23
2018
Written by mary.w

Today is the week of Autumn. If your home has been on the market through the summer, here are some simple steps you can take to bring your marketing campaign into the new season.

  • Pull up the remainder of your dying summer flowers and replace with autumn specific plants or plantings such as mums, sunflowers, autumn crocus, goldenrod and others (do an online search for autumn blooms for your specific area). Mums are an inexpensive option in small, medium and large containers for quick landscaping changes at a minimal cost.
  • If you home is wrapped in fall colors and landscapes, update your photos highlight the season.
  • Use pumpkins or squash varieties to create autumn displays near your entryway. BUT Don’t go over board and create such a massive display that it’s all your buyers can see.Image result for Fall Decorating Ideas
  • On a tight budget? The Dollar Tree or other such stores have a wide variety of items you can use to create season specific decor without breaking your bank.
  • Change the wreath on your front door to more fall specific color tones than what you may have had on there for summer (or spring if you never changed it in June…wink wink).
  • Put pumpkin scented waxes or candles around your home to update your aroma to a scent that reminds everyone of the fall and thanksgiving.
  • Having an open house? Instead of putting out chocolate chip cookies, replace them with pumpkin spice yummies instead.
  • Aromas have a very strong effect on people so put a pot of simmering hot apple cider with cinnamon sticks on the stove. Feels like coming home!

Key: Try to avoid being holiday specific such as halloween or thanksgiving decorations. Promote the season not the holiday.  Keep your advertising Image result for Fall Decorating Ideascurrent but NOT overwhelming to reap maximum results.

Posted in General Information, Selling Tips, Tips and Ideas, Uncategorized
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Typical Buyers Closing Costs

Sep14
2018
Written by mary.w

Monies You’ll Be Responsible to Provide at Closing:

As a Buyer, if you are purchasing your new home subject to a mortgage, you will have certain costs that will be settled at your closing. Some of these may vary by state but as a general rule, before they hand you the keys, you will be handing them:

Down payment:  This is the difference between your purchase price and your mortgage and ultimately represents how much equity you will possess on day one.
Escrow funds: Your mortgage lender will require these funds at closing to make sure that there’s enough money in your account to pay upcoming tax and insurance.
Third-party fees: Third party costs incurred in the processing of your loan. ie: appraisal fees, title insurance & fees for your credit report if applicable.
Per diem interest: This covers the daily interest cost covering the time frame between your closing date & your first mortgage payment due date.
Homeowners association (HOA) dues: If your new home requires HOA or Condo Assoc dues, you may be required to pay the first year’s cost at closing. Sometimes this is negotiated with the seller and if they have paid the fees as part of your agreement, they should provide proof of payment at closing.
Discount points: A discount point is a fee you’ve agreed to pay to lower your interest rate. This is due at closing.
Commission:  Though this is typically a seller’s cost, if you’ve agreed to pay your agent any part of the commission due, that will be deducted at closing.
If you have any other costs, they will be detailed on your Closing Disclosure form which you will receive 3 days prior to your closing date for review. If you question any of the costs on that document, contact the closing agency asap to ensure your closing is not delayed.
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Making Your Move GREEN!

Sep10
2018
Written by mary.w

Hate the cost and waste of using cardboard boxes for your move? Plus the hassle of putting them all together and then having to break them down? Well, there is now a great alternative popping up all over the country.  The companies deliver strong plastic boxes for you to fill. Then you or your moving company pick them up and move them to your new home. When you order them, you determine how long you will need them to complete your packing, move and unpacking. Then the company picks them up.

This helps the environment by minimizing the number of cardboard boxes you throw away. Many people don’t realize that cardboard is not environmentally friendly and typically have some type of chemical compound to retard bugs, termites, etc. It is a ‘wood’ product with the same challenges so using these boxes helps minimize chemicals in the landfill.Why Rent Our Boxes?

I know what you’re thinking….but those boxes are ‘plastic’! Yes, they are BUT they are re-used for years. The company that was brought to my attention in Denver has been using some of their boxes for more than 10 years. Less waste, more environmentally friendly AND an easier, more organized move for you!

Some facts from Denversmovingboxes.com:

Over the course of just one year Denver’s Moving Boxes’ customers will have a direct impact in saving:

  • 816 trees
  • 3792 gallons of oil
  • 336,000 gallons of water
  • 2 million kilowatts of energy
  • 2880 gallons of air pollution
  • 144 cubic yards of landfill

If you’re doing a short move, you can minimize your cost by moving the boxes yourself in small trips and reusing them multiple times.

This is an alternative if you are planning on packing up your home yourself and then moving it all. These companies do not pack…just provide the boxes AND the packing paper and labels for the boxes to make your move in as easy as your move out!!

This is not something I’ve found available everywhere but do a simple search online of “Green moving boxes” (refers to the environment not necessarily the color of the boxes) with your city and hopefully you’ll find this great option available to you!

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Creating the Feeling of Space in your Too Small Kitchen

Aug23
2018
Written by mary.w

Always want the feel and storage of a larger kitchen? There are a few things you can do to maximize small alcoves or inset nooks. Perhaps you have one of those built in desks that have been nothing more than a catchall that then makes your room appear even smaller due to the paper clutter.  Some tips below can take your small out of date and claustrophobic kitchen from your least favorite place to your favorite family hangout!

Remove the built in desk and add a free standing cabinet that fills tImage result for images of cabinets with glass front topshe whole space but feels open due to at least the top having glass fronts. This allows you to showcase your glassware or lovely teapots, dishes, cookbooks or other special items that have been crammed in a box somewhere. By keeping solid bottom doors you have a place to store dishes, pans and other items you want handy but aren’t pretty enough to showcase.

Do you have a small alcove in your kitchen that is not deep enough for extra cabinets or Bakers Racklarge enough to accommodate even a small table? Always wanted a china cabinet to display your loveliest dishes?  Try a bakers rack (like this one from the Container Store).  Showcase your dishes, platters, pitchers, cookie jars….all the pieces of your set and then, if you choose, use the hooks to add the shimmer of your stainless or copper pans as a highlight. You can sometimes find items like this that will fit perfectly within the area you’re trying to fill and create a beautiful display to be both admired and functional while keeping your cost to a minimum.

Don’t have spaces to add a baker’s rack or cabinet? No problem. See the source imageChange out the top doors of some of your cabinets to glass fronts. This allows you to display your glassware and dishes while expanding the visual imprint of the space itself. You can keep this affordable by replacing only a couple but the results will be immediate. Also, painting dark cabinets white can create instant visual space at a minimal cost. BUT if you decide to paint your cabinets make sure and do your research and do it well!

Posted in Decorating on a Budget, General Information, Home Improvement, Tips and Ideas, Uncategorized
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WHAT YOUR HOME MAY BE SAYING THAT’S COSTING YOU $$!

Aug15
2018
Written by mary.w

CLUTTER SAYS:  There’s not a lot of room in this home and very little storage. Keep in mind that what you see as “collectible” others see as clutter. Purge BEFORE you put your home on the market so you don’t lose valuable time fixing this issue too late. Fill and store Clutter-is-OUTbins with the off season clothing, boots, big blankets…whatever you can remove that will make your closets look roomier and storage appear ample.

FULL MIRROR WALL/WASHED OAK CABINETS/BRIGHT BRASS FIXTURES/PSYCHEDELIC WALLPAPER/POPCORN CEILINGS, etc SAY: This home hasn’t been updated for a very long time and so you should get a great deal on the price. These items can actually be updated at reasonable costs so consider doing so BEFORE you hit the market. Disclaimer: If your decor deliberately displays Retro decor, embrace it fully and sell as such which will bring you a great price with the Retro seeking buyer…and they are out there!

DIRTY BASEBOARDS/TRIM/WINDOWSILLS/MESSY ROOMS SAY: If you think this is dirty, wait until you pull out the refrigerator and stove! Even if you are comfortable living in a less than pristine environment, it’s important to market your home to the masses who most often are seeking to not find hidden schmutz after they move in. You can typically hire a cleaning crew to do a “Spring Cleaning” for $250-300. This will be money highly multiplied in its return when you sell.

Keep in mind that you are marketing your home to your buyers not to yourself. If necessary, have a good friend that you trust to be honest help you evaluate what you should consider doing before selling and then do what you can afford prioritizing the items by what will maximize your profit. Then fix and sell!!

Posted in General Information, Home Improvement, Selling Tips, Tips and Ideas, Uncategorized
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Using Social Media to Learn About Your New Neighborhood

Jul30
2018
Written by mary.w

Are you feeling stressed and challenged about moving from your comfort zone neighborhood to a new one where you know no one? Is this especially difficult because you have young or teen children who are not happy at all with your decision to move and tear them away from their friends and the school they love? Then take advantage of a medium you’re probably already very familiar with to “move in” to the area before you ever make the physical move.

  1. Check Facebook pages for Neighborhood Posts for the area you are moving to. If you find one, send a post or message to the administrator for that Facebook group introducing yourself and letting them know that you’re moving into the neighborhood with children (mention ages) and would love to join the group and glean input and general info about all the area offers you and your children.
  2. Check Nextdoor.com and see if your new neighborhood has a group on there and do the same thing.
  3. Go to the new school’s website and see if they have facebook/instagram/twitter groups that you can join and follow.

Not really a social media follower or subscriber? Be bold and create a postcard on a site like shutterfly with a family photo and take a walk around your new block(s) leaving them at your new neighbor’s homes with a note on it introducing yourself. If you don’t feel comfortable having your family’s photo out there like that, simply buy a pack of note cards, write a short note and leave those in the neighbor’s doors. (Do NOT put in mailboxes as that may not be allowed by the city or your association.)

Another friendly proclamation of your becoming their new neighbors is to plan an open house once you move in and invite the neighbors on your block and surrounding blocks if not a huge area to come on over and meet you.

Once your kids make some new friends in the neighborhood and school, not only will their stress level be reduced, so will yours!

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Capital Gains Unscrambled

Jul19
2018
Written by mary.w

Capital Gains sounds like a scary inevitable cost when selling your home at a profit. BUT once you understand how it’s computed and who qualifies for exclusions you’ll see you can most likely breathe easy. Most people DO qualify for the exemption which allows for up to $250,000 per individual or $500,000 per couple.

What are Capital Gains?

You can determine the capital gain on your home by subtracting applicable costs of selling your home (ie: commissions, advertising) plus the cost of any qualifying home improvements (you can find specific details on the IRS website) from the original purchase price of your home.

Ex:  Original Purchase Price = $200,000  + $25000 Costs = Cost Basis of $225,000                     Selling Price = $325,000 – $6500 Commission (You saved by selling BuyOwner!)                 so you receive $318,500 – $225,000 = $93,000 in Capital Gains.  You will not pay                tax on this gain if you meet the exemption requirements noted below.

Qualifications for Capital Gains Exemption?

The following requirements must be met in order to qualify for the capital gain exclusion when selling your home:

  • You must have owned your home for at least 2 years.
  • The home must have served as your main personal residence for at least 2 years.
  • During the 2 year period ending on the date of sale (Note: If you’re close to this date, negotiate your closing to ensure it occurs after the 2 yr qualification has been met), you didn’t exclude gains from the sale of any other home.

YAY: You can use the capital gain exclusion over and over again as long as you meet the requirements.

BOO: If you take a loss from your home sale, you do NOT get to take the loss as a tax deduction.

NOTE: To Always ensure that you are receiving max tax benefits, consult your tax accountant or review thoroughly the applicable information on IRS.gov

Posted in General Information, Uncategorized
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