Renovation Investors and You

Depending on the condition of the house, renovation can be a major expense. However, this can also present real estate investors with significant opportunities. For those with the right know-how and a good eye for investment properties, homes in need of renovation can be reworked and then flipped for a profit. Some investors actually make a very good living doing just that.

So how can these investors help you? Part of that depends on exactly what it is you’re looking for, and whether you’re a potential buyer or you’re looking to sell a property that’s in need of repairs. Let’s take a closer look at how renovation investors work and how that benefits both buyers and sellers to see how this matches your needs.

Renovation Investors

Investors who specialize in renovations seek to buy properties at a discount because of issues the property has or repairs that it may need, in order to be habitable. Depending on the state of the property, the renovations may be extensive before it’s time to sell. The end goal is to get the property in good enough condition that the investor can sell it for more than was spent buying the property and performing the renovations.

In some cases, the investors themselves are the ones doing the renovations. Some investors work with contractors and have them perform the renovations instead. Regardless of who does the work and how involved the investor is in the process, any labor costs are included in the amount that the investor seeks to recoup when the property is finally sold.

Renovation Sellers

If you have a property that you want to sell that’s in need of repairs, a renovation investor might be able to cut you a good deal on the property. While you won’t make as much from the sale as you would if the property had already been repaired, this can be a viable option if you aren’t sure of how much repairs will cost or if you’re afraid of a “money pit” situation where the cost of repairs might balloon out of control.

While most renovation investors want to purchase properties at as low a price point as they can to maximize their eventual profits, there should be room for negotiation to help ensure that you get a fair deal on the property when its current state of repair is taken into account. If you speak with a renovator who simply refuses to work with you to find a fair price for the property, you always have the option of looking for different buyers or undertaking some repairs yourself to bring up the overall value of the property before it goes to market.

Renovation Buyers

If you’re in the market to buy a home, renovation investors can help you get into a nice house at a good price. In most cases, the homes are slightly older – but the repairs that were done by the investor should have the property in much better shape than similar homes of the same age. You may even find renovated homes that are as nice or possibly even better than houses that are newer than the one that was renovated.

Of course, when buying a renovated home, it’s important to find out what repairs were done and whether there are any repairs that still need to be made. Local ordinances may require the renovator to have made at least a minimum level of repairs before the property can be sold. When you have an inspection performed, the home inspector should be able to point out any potential issues that might cause a conflict with these legal requirements.

Should You Rent Your Home Decor?

It might seem like kind of an odd concept, but there are a number of companies that let you rent your home décor these days. Companies like Feather and CasaOne allow you to lease your furniture and other décor for a limited period or until you decide to buy it outright. Even some older rent-to-own companies have options to change furnishings after completing a portion of your lease. The big question is, how viable is this as a way to decorate your home?

Renting vs. Buying

With just about any situation where you have the option to rent or buy something, there will be proponents on both sides extolling why that option is the better deal. People will discuss markets when talking about renting or buying a home, or depreciation rates when discussing automotive lease options versus outright purchase. With furniture, however, the discussions have long been fairly one-sided due to the excessive cost associated with many rent-to-own furniture options. Unless you had another other choice, buying your furniture was the only way to avoid paying nearly twice as much in some cases.

The difference here is that these new options are intended as a way to provide flexibility in your décor instead of simply providing a path to purchase. While you do have an option to purchase, you also have the option to change your furniture options as your needs and tastes change. Because services like Feather are focused more on providing an actual service than simply selling furniture with installment plans, they have a larger focus on benefits than what you would get from a standard rent-to-own purchase.

Is It a Viable Option?

There are two questions to ask when trying to decide if renting home décor in this fashion is a viable option for you. The first concern is the cost: is it really worth it to you to have the sort of flexibility these services provide, versus owning your furniture outright? Feather, for example, has a $19/month service charge in addition to the monthly furniture payments for members on annual contracts. If you don’t plan on taking advantage of all the services that Feather offers, it might not be worth paying this extra cost in your case. On the other hand, if you’re the sort that would like to be able to reinvent your living space on a regular basis, then the discounts and annual free change that membership provides might be more than worth that added monthly fee.

The second thing to consider is how viable these companies are in the long term. If there’s no market for this sort of a service, then you might find yourself without a service to use a few years down the road. This may not be a concern, however; the market has supported multiple more traditional rent-to-own services over the years, but companies like Feather aren’t really competing with those. Instead, they’re taking an updated version of their model and targeting a slightly higher income bracket. With reasonable pricing, some great style and a solid service model in place, these early movers into this new bracket could have significant staying power.

I Love a Parade! High Traffic Flooring Options

A nice deep pile carpet can look great in your home, but if you have a lot of foot traffic then it’s just asking for trouble. Not only will you have to work harder to keep it clean, but you’ll also have to replace it sooner than you’d like because all those feet and shoes will leave their mark over time. If you want nice-looking floors without worrying about your own personal parade wearing them down before their time, you need to find a flooring option that’s better suited for high-traffic areas.

Laminate Flooring

An increasingly popular option in homes, laminate flooring uses laminated wood slats with images applied to them to create the look of a premium flooring option without the premium price. Laminate is available in a wide range of sizes and types; choose thicker 12mm or 15mm laminates to help ensure that they won’t wear down due to excessive foot traffic. If you want something a bit different than standard laminates, some companies are also now making vinyl flooring that functions similarly to laminate floors but with the water resistance and other benefits of using vinyl.

Natural Stone

If you really want something that can stand up against some foot traffic, consider going with natural stone. These stone tiles add a touch of beauty and class while giving you the wear protection that only stone can provide. Depending on the option you choose, this may run a bit more expensive than other options, but there is very little out there that can match the look of stone in the end.

Concrete Flooring

Though this may sound unappealing when you first think of it, there’s a lot that can be done with concrete flooring. You can add color, stains, etchings, stamps and even embedded features such as stones or tiles to really bring the floor to life. Best of all, you already know that concrete can stand up to a lot of traffic and use without showing any wear, so you won’t have to worry about your floors showing their age for quite some time.

Hardwood

Another option, which can be a bit pricey depending on the wood you go with, is hardwood. There is very little that can beat a hardwood floor when it comes to beauty and wear resistance. You have several woods to choose from, each giving the floor its own touch of color and personality. The maintenance of hardwood is a little higher than some other options if you want to keep it looking its best, but the little bit of extra time you spend keeping up your floor is more than worth it.

Ceramic Tile Flooring

There are a lot of benefits to using ceramic tile in your high-traffic areas. Tile is versatile, comes in a wide range of colors and styles, creates a classic look, and is relatively easy to repair and replace if individual tiles get broken. Don’t worry that the look of ceramic tile is dated, either; while you might think that tile will give you the generic “tile floor” look of decades past, modern ceramic tile is truly a sight to behold.

Traffic-Resistant Carpet

Yes, carpet isn’t always the best flooring option for high-traffic areas. That doesn’t mean that there aren’t carpeting options available for rooms that see a lot of use, however. Not only are there low-pile carpets and other options designed with higher-traffic use in mind, but you can also get carpet tiles and other carpet options that are both easy to maintain and easy to repair if parts of them start showing a bit too much wear.

Bargain Buying 101: Things to Look for In a Deal

When you’re shopping for a new home, it’s not uncommon to face a little bit of sticker shock when it comes to price. This often leads to buyers trying to find a good balance between what they want and what they can afford. However, if you’re smart (and maybe a little lucky), you may be able to find some really great deals if you know what to look for.

One of the keys to finding a good deal is to look for properties that have qualities that might seem unappealing at first but that can be corrected fairly easily. Some of these things can drive prices down significantly but won’t require a major renovation to fix. If you’re hoping to find a bargain, here are a few things to look out for.

Ugly Paint

Even though there’s a lot of damage that can make your paint look ugly, sometimes the paint is just ugly because someone chose to bring together colors that should never coexist. It could be awful colors, it could be cheap paint that’s faded over time or it could even be an amateur paint job that never got touched up. Regardless of the reason for the ugly paint job, it can drive the price of the property down by thousands or even tens of thousands of dollars. It doesn’t even have to be the entire house; one ugly room can give you an opportunity to find a good deal on an otherwise nice property.

Landscaping Issues

A property’s yard is one of the first things that potential buyers see. If it’s obviously been neglected or has bald patches and overgrown flower beds, this can make a negative first impression because it suggests that the house itself might not have been taken care of either. That isn’t always the case, though. Even if the house is in good condition, a yard that needs some TLC can usually shave some money off the asking price and help you to net a great deal.

Fixtures and Accents

There are a lot of cosmetic elements in houses that can start looking rough over time. Handles and knobs can come loose or become tarnished, shutters can get loose, bathroom tiles can become cracked… the list goes on. While updating these issues won’t break the bank, many sellers will drop their asking price quite a bit due to how these little things make the house look.

Bathroom Concerns

A lot of buyers shy away from houses that have obvious bathroom problems, causing those sellers to bring the price down significantly in many cases. Depending on the extent of the issues in the bathroom, though, there could be a real opportunity here. If the problem with the bathroom is mostly cosmetic, then you may be able to fix it on the relatively cheap side and save a lot of money in the process. Just be sure to keep an eye out for signs of water damage or mold, since that could indicate problems that would be much more expensive to fix.

Previous Foreclosure

One other strategy for finding a deal is to look for bank-owned properties that were previous foreclosures. These properties are often sold at a discount because the bank isn’t necessarily trying to sell the house at market value, it’s simply trying to recoup the money it lost when it had to foreclose. The amount you can save will depend on both the bank and the amount of equity that was in the home when it was foreclosed, but you may luck into a great deal on a nice house this way. Just be aware that while there are legitimate programs that can help you find a foreclosed property, there are also some scammy ones out there as well.

What Causes Ice Build-Up on Homes?

When the weather is cooler than cool, it can turn ice cold. Unfortunately, this can lead to a lot of ice on and around your home. There are few things that can make you lose your chill faster in the winter than ice-related falls or damage to your home. Excessive ice build-up can create a number of potentially dangerous situations during the winter, so knowing what causes it (and more importantly, how to prevent it) is an important part of staying safe as temperatures drop.

Ice Build-Up

There are a few different ways that ice can build up during the winter. The most basic ice buildup is just a thin layer of ice that covers large portions of the house, sometimes accompanied with snow or other precipitation. This usually isn’t that big of a deal. Of greater concern are large icicles, sheets of ice and snow that build up on the roof, frozen gutters and built up ice at the edge of the roof known as an ice dam. These can be dangerous in several ways, both to you and to your house.

Frozen Gutters

When ice freezes in your gutters, it places extra strain on the screws or clips holding the gutters in place. Overflow can result in icicles hanging from the gutters, and if the buildup gets too heavy it can actually pull the gutters away from your roof. This is particularly dangerous because that heavy ice can then fall to the ground… bringing part of your gutter with it.

Ice Dams

If a portion of your roof becomes warm enough to melt some of the snow and ice on top of it, an ice dam can form. That melted snow or ice will trickle down the roof as water, reaching the eaves or gutter and encountering much colder materials where it will freeze again. This process continues until there is a buildup of ice at the very edge of the roof, with liquid water attempting to flow underneath it. The ice can overflow onto your gutters, while the water forces its way under shingles and possibly through other materials until it freezes and expands. The longer the ice dam continues this process, the thicker it becomes and the more damage it can do.

Other Forms of Ice

Ice sheets and icicles also present dangers during the winter. Icicles form when liquid water gradually drips at the same spot over time, freezing more and more until it grows large enough to potentially break free and fall to the ground. Ice sheets form similarly to ice dams, but instead of melting entirely the heat of the roof only melts a small portion of the ice sitting on it. The remaining ice is able to shift under its own weight due to the thin layer of water underneath it, and in some cases may slide down the roof and fall to the ground.

Removing Ice Build-Up

Care should be taken when trying to remove any form of ice build-up. Don’t use any sharp implement as it can damage your roof, gutters or walls. Instead, tap away at the ice with a blunt mallet or pole. Work in small sections, making sure that there is someone with you to brace your ladder in case the ice shifts. Apply a calcium chloride ice melter to the ice beforehand, if possible, to melt as much of it as you can (but don’t use rock salt or other chemicals that can damage your home.) Take every precaution you can before you start trying to remove the ice, because even when you’re prepared, it can be dangerous.

Preventing Build-Up

To prevent ice build-up, work on improving ventilation in your attic to ensure even heating and consult an energy efficiency expert to see if there are other steps you can take. Use a snow rake to remove snow and ice buildup from the roof before it can become a problem, and clean your gutters thoroughly before winter weather sets in. If you have a continuing problem with build-up, you might also consider replacing some or all of your existing roof with a standing-seam metal roof with a water-repellant membrane underneath it.

Things to Know Before Jumping into Solar

Home solar may be the energy solution of the future, offering clean, reliable energy without having to depend on power companies and their high energy rates. With new financing options in the works from some companies, getting into solar could soon be easier than ever before. If you like the thought of energy-independence, then picturing your home with its own solar panels might make you giddy. Before you get too excited, though, there are a few things that it’s important you know about solar energy first.

Solar Is Expensive

If you want a full solar array capable of powering your home, there could be a significant expense involved. Depending on the size of your home and the extent of your energy needs, your solar setup could easily cost you $30,000 to $45,000 or more. You may be able to finance the panels and installation, but it’s still a major expense. Tax credits or other incentive programs may help to offset the cost, but the availability of these programs and what’s required to qualify can vary from year to year or by locale.

Recouping Your Investment

The money you save on your electric bill should eventually be more than what you pay to have solar panels installed, but it may take a while for you to save more than you spent. Depending on the size of your solar panels, where your property is located and how much of an effect the panels have on your electric bill, it could take 10 years or longer for you to recoup your initial solar investment.

Solar Mounting Concerns

Not all homes are ideal for solar. If your property has a lot of tall trees surrounding it or you otherwise experience a lot of shade on your house, this can have a negative effect on how well your solar panels function. Also, if you’ve had issues with your roof in the past you may have a hard time installing a roof-mounted solar array given the weight of the equipment. If you opt for an off-the-roof array to take advantage of the best lighting on your property, there will be added expense involved since you’ll have to put in a concrete slab and use different mounting equipment as well.

Do You Have a Battery?

Many people think of solar as being a way to keep power no matter what’s going on with the grid, but that isn’t always the case. Many solar arrays are designed to back-feed power into the grid itself, essentially selling the power that you generate to the electric company and reducing your bill that way. If there’s a blackout or other problems with the grid, though, you’ll still be affected because that power isn’t being stored locally. If you want local power storage, you’ll need batteries… and that can be even more expensive, depending on your home energy usage and whether you want the batteries to supply some or all of your power needs.

Cleaning and Maintenance

One thing that’s left out of a lot of solar conversations is the ongoing cleaning and maintenance requirements that solar panels have. The effectiveness of solar panels can be affected by dust and dirt buildup, so your panels will have to be cleaned as part of your normal spring or fall cleaning routines. Damage to panels and dead cells can also affect them and will require an installer to come out and fix. If you have batteries as part of your unit, these may have to be replaced after several years as well as they can start holding less of a charge over time.

Home Valuation Effects

Having a functional solar installation can have a nice positive effect on your home’s value, especially as energy costs continue to rise. It may reduce the number of interested parties a bit while solar is still relatively uncommon for homes, however. While some buyers will be excited about the idea of buying a home with solar, others may wonder how trustworthy it is or worry about future maintenance costs. While you’ll be able to get more for your property if you decide to sell, it could take you longer to find a buyer.

Care and Feeding of Your Home’s Roof

While the roof is one of the most important parts of your home, it’s also one of the most neglected. The average homeowner gives little thought to the condition or maintenance needs of their roof until it starts to leak, at which point it’s usually too late. With a little bit of care and planning, you can add years to the life of your roof. Even better, you can also improve both the look and overall condition of the rest of your home in the process.

Roof Safety First

Before you start any plans to take care of your roof, be sure that you know how to safely access the roof and work on it. Ensure that you have a ladder in good condition that you can secure in place, with a spotter there to keep an eye on you and hold the ladder stable. If possible, connect a rope or safety harness to a solid surface on the roof in case of accidental slips or falls. Wear slip-resistant shoes or work boots and walk carefully with each step to test for weak spots before putting your whole weight down. A fall from a roof can be very dangerous, so don’t skimp on the safety procedures when you’re leaving the ground.

Check It Out Annually

Don’t wait for there to be problems with your roof before you decide to do anything about it. At a bare minimum, you should inspect your roof once a year, ideally in the fall, before freezing temperatures set in. This lets you take care of any problems before ice, snow and other winter issues can make them worse. While this works as a minimum amount of attention, your roof will maintain its good condition longer if you also check it in the spring or early summer as well.

Clean the Debris

There is more on your roof than just a frisbee. The limbs, dirt and other debris can take a toll on your roof material over time. Wash the debris off your roof or climb up and remove it with a broom, being sure to follow good safety habits if you decide to go up yourself. If you’re unable to remove some of the debris safely, leave it and call a professional.

Look for Overhanging Branches

Trees near your home can provide good shade during the summer, but as winter sets in they can become a hazard. Limbs and branches that hang over your roof can not only drop seeds, leaves and pollen that can make a mess, but as temperatures drop and everything starts icing over those same limbs can gain a lot of weight. Trimming back the limbs or other hazards can go a long way toward preventing damage to your roof over the course of the winter.

Keep Your Gutters Clean

Most people clean their gutters to keep the water from falling over the side, but there are other reasons to keep them clean. If your gutters are clogged, all of that organic material holds moisture and keeps it right next to the edge of your roof. Over time, this can cause the wood in the roof edge to soften and rot. This can, in turn, lead to your gutters pulling free and possibly even part of your roof collapsing.

Look for Signs of Damage

Even quick visual inspections throughout the year can make a big difference in keeping your roof healthy. Areas that seem damp even when everything else looks dry, shingles or flashing that is visibly damaged or pulled up, mold growth on certain spots, damp spots in the attic and other signs of distress are all good ways of telling that there’s some problem with your roof that needs to be handled.

Top Gifts for Homeowners This Holiday Season

Figuring out what to buy for friends and loved ones during the holidays isn’t always easy. While some people are easy to shop for, there are always a few people on your list who seem to already have everything they might want. Fortunately, there are a few things that you can get for around the home that they might never buy for themselves. Here are a few suggestions for things that they’ll not only appreciate, but actually USE.

Digital Assistants

Both Google Home and Amazon’s Echo smart speaker with Alexa are pretty common these days, and both platforms are adding new features frequently. Not only can you use one of these digital assistants to play music or find out the weather forecast, but you can also have them tell you jokes, cast video to smart TVs, look up recipes and even set timers or access your calendar. Companion apps for smartphones will even let your recipient take their assistant with them when they’re away from the house as well.

Smart Thermostats

Heating and cooling costs are a major expense. Fortunately, there are an increasing number of options out there for smart thermostats that adjust temperatures automatically to help keep costs low. These thermostats can not only make changes based on their programming, but some can even make adjustments on their own when they sense that no one is in the house. Connecting them to smartphone apps would even allow your recipient to control the temperature while away from home so that everything’s just perfect when they get back.

Home Automation Accessories

Digital assistants and smart thermostats aren’t the only home automation options out there. Smart lighting, smart locks, window sensors, leak sensors and even smart smoke detectors are all available to give your friends or loved-ones new ways to interact with their home. Best of all, most of these devices can be configured to work together to achieve effects like automatically turning on lights when the door is unlocked.

Alternative Appliances

The modern homeowner deserves so much more than an oven and a microwave can give them. Fortunately, there are a number of options out there that offer up new culinary options while also being extremely giftable. Instant Pot cookers, sous vide cookers and even air fryers offer new options for fixing meals that your gift recipient might never have considered. Many of them are programmable as well and can even be monitored or controlled remotely via dedicated apps.

High-Quality Streaming

More people are “cutting the cord” and moving away from traditional cable television than ever before. In addition to Netflix, consumers looking for quality digital content have options with Amazon, Hulu, Disney+, CBS All Access and more, and the forthcoming HBO Max streaming service will be here next year. This could be a great time to get your recipient ready for all of this content with a Roku or other streaming device capable of handling HD or 4K streams without buffering or losing picture quality in the process. Pair it with a sound bar or other sound solution to really take their entertainment experience up a notch.

Clearing the Air

There are a number of common pollutants that can foul the air we breathe. Help your recipient to breathe a sigh of relief by giving them an ionizing air filter or other air purifier to cut out a lot of these unwanted smells and irritants. This will help to keep the air breathable and odor free, and the units themselves are easy to clean so it won’t add a significant new chore to their routine.

Best Practices for Winter Pest Control

You’ve likely heard the phrase “if you’re cold, they’re cold” in relation to pets. Unfortunately, the same reasoning can also apply to pests that might see your home as a source of warmth and food during the winter months. Squirrels, mice, bugs and a number of other pests can find their way indoors if you aren’t careful. In some cases, it can get so bad that you need to call in an exterminator to take care of the problem.

It doesn’t necessarily have to get to that point, however. There are a few different ways that you can stop pest problems before they start as you get your home ready for winter.

Cover Your Trash

One easy way to cut back on pest issues is to make sure that trash cans and other receptacles are in good condition and covered. Old food and other garbage can be a big attractor for pests, and once they’ve accessed your trash can it usually isn’t a very big leap to your house.

Empty Your Feeders

Some people like to keep their bird feeders stocked over the winter to make sure that birds don’t starve during the cold winter months. There isn’t necessarily anything wrong with this idea, but it’s important to remember that birds aren’t the only creatures that are attracted to filled bird feeders. If the feeders are out in your yard and far away from your house then it might not cause an issue, but if you have feeders mounted near the house so you can see the birds then you may be inviting trouble. The same goes for hummingbird feeders or any other sources of food too near your home: Empty it out and clean it up if you don’t want it to attract pests.

Watch Your Scraps

Just like you need to watch food sources outside of the house, make sure you’re not leaving inviting sources of food out inside the house either. Whether it’s in a bin for compost or just scraps left on plates that haven’t been scraped off yet, if there’s food in the house then it could attract a number of uninvited guests.

Fill in the Gaps

Before the weather gets too bad, take the time to go around your house and try to identify any cracks, holes or other bits of damage that could let in unwanted pests. Make sure that your inspection covers the foundation, areas around windows, the garage, the gutters and the roof, as well as other features of your home that don’t typically get much attention through the year. Fill in holes with steel wool and make repairs as needed to close off those potential access points into your home.

Use Plastic Storage Containers

If you keep bags of cereal, dry pet food or similar dry goods out in the open in cardboard boxes or bags with clips, it might be time to upgrade to a tougher storage solution. Even though these items are technically put up, thin plastic bags and cardboard boxes don’t offer much of a defense against pests. Put these items in hard plastic storage containers instead. This can even go for boxed dry goods in your cabinets if you don’t access them often; get sealable plastic containers that will fit on the shelves and put dry goods in them – box and all.

Be Careful with Wood Piles

Fireplaces and wood-burning stoves are popular during the winter, but if you aren’t careful, they can make your pest problems worse. Insects and other critters can burrow into wood piles, hitching a ride indoors when you bring in a few extra pieces for the fire. While some may get caught in the wood when you burn it, other pests can escape into the home before that log hits the flame. Be sure to rotate your wood piles frequently and inspect wood before bringing it into the house.

Put the Ho, Ho, Ho in the Holidays with These Holiday Decor Trends

Decorating for the holidays can be a lot of fun. What’s less fun is getting stuck in a rut with the same old holiday decorations year after year. Sometimes you just want to break away from the same old thing and do something new and exciting. What do you do if you don’t have any decorating ideas, though?

You’re in luck, because there are a number of different holiday décor trends that are popular at the moment. Regardless of your personal style, you should be able to find some way to spruce up your decorations and leave your guests in awe. Best of all, some of these are so versatile that you should be able to work them in regardless of your budget!

Farmhouse Chic

They say that everything old is new again, and this trend really digs back into the olden times. Using a lot of weathered wood effects and touches of nature, this look celebrates the holidays with a simple and rustic accent. Use small cut pine branches, natural cuts of logs, earthen tones and handmade decorations that wouldn’t look out of place in Little House on the Prairie to give your holidays a touch of farmhouse wonder. This is especially effective if your home already uses a lot of wood accents in its design.

Go Big and Go Bold

If rustic décor is a bit boring to you, feel free to take it in the opposite direction. Trees decorated with bold, colorful ornaments, the use of neon colors in decorations and a variety of metallic foil accents can really add some warmth to the holiday season. Combine this with outdoor decorations such as oversized ornaments for the lawn and light show projectors and you’ll have a one-of-a-kind holiday theme.

Upcycled Décor

If you like the homemade look and want some truly unique decorations, consider upcycling things around the house to give them a new purpose. Adding paint, accessories and lighting are great ways to take items that you don’t use anymore and give them a new life as holiday decorations. Since the end result depends on both your tastes and the materials you’re working with, no two upcycled decorations will be the same.

Add Some Shine

Sometimes glitter is in style, and sometimes it’s tacky. At the moment, though, glitter is coming in in a big way. Using glitter as an accent on your other decorations or going all-in and giving decorations a full coat can give your holidays a touch of much-needed shine. Just be careful when you’re working with glitter. Once it’s in the house, it might be there to stay.

Twinkling Accents

Lights are a cornerstone of holiday decorating, but a lot of people are using them as much for accent pieces as they are for big displays. Instead of putting all of the lights outside, try adding LED-lit garland and lighted wreathes as a way to add just a little bit of twinkle to your decorations. Often these decorations will use very small lights in short strings, giving you just the right amount of lighting to serve as a great accent without dominating your décor.

A Touch of Folklore

There are holiday traditions from around the world, including a number that might be important to your own culture. Embrace this, adding little hits of folklore and traditions from your culture into your decorating plans. These don’t have to be large overt displays, either; even just little touches as part of your accents can really help you to bring your decorations to life.

Home Equity Loan or Line of Credit: Which is Better for You?

As you make payments against your mortgage, you build equity in your home. This equity can be used to secure future loans, making it easier to refinance your home or cover certain other expenses. Depending on your needs, you might consider taking out a home equity loan or a home equity line of credit (HELOC). The question is, which one is the better option for your current situation?

This is actually kind of a tricky question. Let’s look at what the differences are between these two ways of using equity and the situations that each is best for. That should give you a good idea of exactly how well each option fits your needs so you can choose the home equity solution that’s best for you.

What Is a Home Equity Loan?

As the name implies, a home equity loan is a loan that uses the equity you’ve built in your home as collateral. As with other standard loans, when you’re approved for the loan you receive the entire amount of the loan as a lump sum payment. Typically, the amount of a home equity loan is capped by the amount of equity you have in your home, with the new loan serving as a lien against the home. Home equity loans typically feature fixed interest rates and fixed repayment terms, with the most common terms being 10 or 15 years. As with other loans, you’re required to make monthly payments against the home equity loan until it is repaid in full.

What Is a HELOC?

A home equity line of credit is similar to a home equity loan in some ways, with the biggest similarity being that they are both borrowed against the equity in your home. Unlike a home equity loan, however, a HELOC does not give you a lump sum of money once the loan is approved. Instead, you receive a debit card or checkbook that you can use to access the line of credit. You’re only charged interest on the amount you’ve borrowed against the HELOC, and feature fluctuating interest rates and balloon payments after a certain period of time. There is also an advance period on the loan which is the time period in which you can access money from the line of credit; after this period ends, you can no longer borrow against it.

When to Get a Home Equity Loan

Home equity loans are great if you have a single expense or purchase to make and will need all of the money around the same time. Because they feature fixed interest rates, you know how much your monthly payment will be for the entire life of the loan. When you take out a home equity loan you get your money, pay for your purchase or other expense and then start repaying what you’ve borrowed. It doesn’t get much simpler than that.

When to Get a HELOC

A home equity line of credit is a better option if you have multiple purchases or expenses that you have to pay out over a period of time. Many feature low introductory interest rates, allowing you to save money during the first several months because you’re being charged less on the initial purchases you have to make. Some homeowners also take out HELOC loans if they don’t have specific needs but want to have a safety net to cover possible purchases or emergencies; since they’re only charged interest on the amount that they actually borrow against the loan, that safety net can wait for the entire advance period without raising interest charges if the funds aren’t actually needed.

Millennials Buying Homes: What’s Trending?

Though there are a number of stereotypes surrounding Millennials, they actually make up a fairly significant part of the economy. More importantly, their economic strength as a group seems to be growing by the day. As of 2019, Millennials make up approximately 37 percent of home buyers… that’s a bigger share than any other generation, including Baby Boomers! So what exactly are these Millennials buying, and what trends are growing along with their increasing representation in the market? Let’s take a closer look and find out.

First-Time Buyers

Approximately 52 percent of Millennials who are buying homes are first-time home buyers. This makes sense for younger Millennials, but even older Millennials who were born in the 80s still see a significant number of first-time buyers. Before buying, a large number of these Millennials were renting homes. By buying homes, they can enjoy the benefits of ownership and build equity for similar amounts (or in some cases, less) than they were paying each month in rent previously.

Family Homes

The majority of home-buying Millennials are buying single-family homes. This is in part because over 50 percent of them are either married or in long-term relationships; in fact, in 2018 there were more married couples among home-buying Millennials than there were in any other generational group that was in the market for a house. A significant number of Millennials also have children under the age of 18 living at home, further increasing the need for a family-friendly home.

Motivation to Buy

The majority of Millennials who have bought homes within the last year did so simply because they wanted to own a home of their own. Some wanted to own a larger home, be closer to friends and family or were moving due to job relocation, but the general desire to own a home was listed as a reason for buying by as many Millennials as ones that gave all other reasons combined. A lot of this came down to the opportunities that were present as well; over 50 percent of Millennials report that it was “just the right time” to buy a home, while the second most common reason (that they didn’t have much choice and had to buy when they did) was only reported by around 10 to 15 percent of Millennials.

Back to the Suburbs

One big trend among Millennial home buyers is that they were buying homes in the suburbs. This wasn’t restricted only to Millennials, either; 51 percent of all homes purchased in 2018 were located in suburban areas or subdivisions. The Millennials fell pretty close to this statistic, with small towns being the second most common location. A vast majority of these homes were previously owned; though there have been a number of new subdivisions built around the country in recent years, only a small percentage of Millennials are buying into them.

Biggest Factors

There are a number of factors that affected the purchasing decisions of Millennials. The presence of public transit or proximity to work was one major factor, with many Millennials trying to minimize commuting costs. Heating and cooling efficiency also played an important role. In general, Millennials were more willing to compromise on price than on a home’s condition, but only around 20 percent were willing to compromise on the distance of their new home from work.

Home Shopping Trends

By far, the majority of Millennials started their home search by looking online to try and find properties for sale. Around 15 percent spent even more time online than that, starting their search by researching the ins and outs of the home buying process before even starting to look at properties. Beyond online sources, Millennials trusted real estate agents and Realtors the most for information about homes for sale. The entire process took about 10 weeks on average before finding the home they wanted to buy, though a real estate agent was involved for the last 7 or so weeks of the search.

Home Shopping Red Flags to Watch

Shopping for a home can be exciting. Unfortunately, sometimes we can get too caught up in the excitement and end up ignoring signs that the house we’re looking at might not be the best option. There are a number of red flags that can pop up when looking at homes, and even more when shopping for a mortgage to pay for the home you choose. To help you avoid having a bad home-buying experience, here are a few of the biggest red flags that you should keep an eye out for.

Signs of Foundation Trouble

When looking at a home, be sure to get a look around the outside so you can catch a peek near the foundation. If the home has a basement, ask to see it as well. While a little settling is normal if you see large cracks, signs of leaks or other indications that there is foundation damage then buying this home is just asking for trouble.

Insect Issues

Having insects or other pests in your home is more than just unsanitary: These uninvited intruders can actually damage your home and lead to costly repairs. If you see insects, mice or other pests (or indications that they’ve been in the house recently), it could indicate a pest control problem that the seller has been unable to get under control. Depending on how bad the problem is, this could be a deal-breaker.

Inconsistently Fresh Paint

Seeing freshly painted walls in a house is pretty common and usually isn’t anything to worry about. When the paint only covers certain patches of the wall, though, that’s a different story. Be sure to ask about any small sections of paint that you see as they may indicate damage that was hastily covered up with a little bit of paint. It’s possible that there’s a good reason for it, but that little patch of paint may also be hiding an unpleasant surprise in the wall.

Smells and Stains

Most sellers go out of their way to make a house appear at its very best before letting potential buyers come in. This is why you should definitely take note of any odd smells or stains that you encounter in the house. Smells could indicate leaks, mildew, mold or other problems hiding somewhere in the house. Stains can also indicate leaks and other problems, especially if they appear on the ceiling or near the tops of the walls. Large stains on the ceiling can even signify a leaky roof!

Outlet Issues

When looking through a house, be sure to spare electrical outlets a glance. If they have visible cracks, discolorations or black smudges on them then you may have electrical problems in your future! While you’re thinking about the electricity, you should also ask to see the breaker box to make sure that it’s well organized and that all of the breakers appear to be in working order.

Standing Water

If it’s been raining, you may see a little bit of water standing in the yard when you go to visit a house. This isn’t necessarily an issue, but stop to think about how long it’s been since it rained and just how much rain you’ve gotten. If there seems to be a lot of water for the amount of rain or if it’s been a while since the last rainfall, that standing water could indicate drainage issues or even problems with a water line or septic tank.

Loan Issues

Even if there’s nothing wrong with the house you want to buy, you may encounter red flags during the loan process. Higher than usual interest rates, requirements for additional insurance or flood insurance, added costs and other quirks could mean that you need to find a new lender… or they could mean that there are issues with the property that you missed. Shop around for a better loan if you think you can find a better deal, though keep an eye out for issues that keep popping up at multiple lenders.