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How to Survive a Major Remodeling Project

SOURCE: Houzz

Get expert tips for improving your home while preserving your sanity

A significant home improvement project rates high on the list of life’s most stressful tasks. Horror stories abound, causing racing pulses at the mere thought of contractors taking over your home. But it has to be done! That new kitchen, bathroom or bedroom suite won’t come into being until you enter the fray. Forewarned is forearmed, so read this essential advice to accompany you on your journey.

1. Plan and Prepare

It’s study time. The more time and effort you invest in the run-up to your project, the better.

Sketch out clearly the scope of the work envisioned. Online resources such as Houzz will help you build up a clear picture of exactly the look you want. You can browse photos and save the ones you like to ideabooks to share with family members and your pros. Visit showrooms and suppliers to see samples of products and finishes and tour houses for sale in your area for inspiration on what you may realistically expect to achieve.

Establish at an early stage which professionals you need on your project. Architects, interior designers and engineers each bring expertise which may be essential to a successful outcome for your project.

Finding the right contractor, builder or design-build firm is the holy grail. While you should aim to get three competitive quotes, the best advice is to choose the best one you can. You will save time and money in the process.

2. Create a Written Agreement

A signed, written outline of the work to be done, the agreed-upon period for completion and the agreed-upon price is essential. The more detail you can include here the better, including products to be used and the standard of finish expected.

If working with a professional team, you should be signing a formal, legal contract with the contractor.

3. Expect (Lots of) Dust and Dirt

It’s shocking how quickly a habitable home reverts to a building site once work of any scale begins. It seems as if every particle of dust that ever settled in the furthest recess is shaken out in the process.

Major work may require that you move out for the duration. If you’re staying put, keep the spread of dust to a minimum by sealing off those rooms where work is being done from those unaffected.

Talk to the builders about dust management and ask them to put up dust protection sheets for you. These will protect any built-in or fixed furniture in the vicinity of the work that can’t be removed.

Make a careful plan in advance of how you’ll live around the project. Do you need to turn the spare room and bathroom into a station for microwave dinners and washing-up? If space is tight and your options are stressing you out, talk to your builder about any temporary measures they might be able to help with — moving the stove or installing a temporary sink, for instance.

4. Monitor Progress

Visit or inspect the site being remodeled frequently to keep on top of what’s being done and to make sure you’re happy with the quality of work. The best time to do this is before or after the day’s work. A noisy, busy building site is not conducive to focused attention.

Arrange a regular, formal meeting or catch-up on site with key participants to review progress, discuss challenges that have emerged and map out decisions that need to be made. These are usually undertaken on a weekly basis and should be documented, with the details circulated to all parties.

5. Agree on Lines of Communication

To avoid misunderstandings between you and your contractors, it’s essential that there is a clear line of communication between you and them. If you’re embarking on work along with a spouse or partner, agree in advance which of you will be responsible for dealing with the contractors.

If you’re employing an architect or other professional, all instructions and requests to the builder should be channeled exclusively through your professional. Keep and circulate a written record of all your dealings, in paper or digital form.

6. Avoid Changes

This is where your homework and advance research will pay off. Even minor changes can lead to cost over-runs and time delays, which can quickly spiral out of control and be difficult to monitor. The more decisions you make in advance, the quicker materials can be ordered and work can progress.

You will still be bombarded with a plethora of detailed decisions to be made along the way, all of which, of course, will be flagged as urgent. Dealing with these will, hopefully, be made easier in the context of the clear vision that you have formed for your home.

7. Stay Calm and Focused

Building work tends to be all-consuming, with a unique, frantic pace of its own. Those urgent decisions seem endless.

This means it’s a good time to sign up for a yoga course or schedule in some definite, relaxing downtime over the course of the work. This will help you maintain perspective and the energy levels needed to bring the project to fruition.

8. Celebrate the Wins

You will get there! The project may run over time and over budget, and you may have your own battle stories to add to the anthology, but your enjoyment of a beautiful home crafted to suit your every need will make it all worthwhile.

SOURCE: Houzz

The Truth About Down Payments

If you’re planning to buy your first home, saving up for all the costs involved can feel daunting, especially when it comes to the down payment. That might be because you’ve heard you need to save 20% of the home’s price to put down. Well, that isn’t necessarily the case.

Unless specified by your loan type or lender, it’s typically not required to put 20% down. That means you could be closer to your homebuying dream than you realize.

As The Mortgage Reports says:

“Although putting down 20% to avoid mortgage insurance is wise if affordable, it’s a myth that this is always necessary. In fact, most people opt for a much lower down payment.

According to the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. In fact, for all homebuyers today it’s only 15%. And it’s even lower for first-time homebuyers at just 8% (see graph below):

SEE GRAPH HERE

The big takeaway? You may not need to save as much as you originally thought.

Learn About Resources That Can Help You Toward Your Goal

According to Down Payment Resource, there are also over 2,000 homebuyer assistance programs in the U.S., and many of them are intended to help with down payments.

Plus, there are loan options that can help too. For example, FHA loans offer down payments as low as 3.5%, while VA and USDA loans have no down payment requirements for qualified applicants.

With so many resources available to help with your down payment, the best way to find what you qualify for is by consulting with your loan officer or broker. They know about local grants and loan programs that may help you out.

Don’t let the misconception that you have to have 20% saved up hold you back. If you’re ready to become a homeowner, lean on the professionals to find resources that can help you make your dreams a reality. If you put your plans on hold until you’ve saved up 20%, it may actually cost you in the long run. According to U.S. Bank:

“. . . there are plenty of reasons why it might not be possible. For some, waiting to save up 20% for a down payment may “cost” too much time. While you’re saving for your down payment and paying rent, the price of your future home may go up.”

Home prices are expected to keep appreciating over the next 5 years – meaning your future home will likely go up in price the longer you wait. If you’re able to use these resources to buy now, that future price growth will help you build equity, rather than cost you more.

Bottom Line

Keep in mind that you don't always need a 20% down payment to buy a home. If you're looking to make a move this year, reach out to a trusted real estate professional to start the conversation about your homebuying goals.

SOURCE: Keeping Current Matters

5 Common Real Estate Closing Day Surprises and How to Deal

SOURCE: Realtor.com

Areal estate closing is an anxiety-inducing time, even if it goes smoothly. Add something unexpected, and it will throw you for a loop.

I was thrilled when the sellers accepted my offer on a tear-down lot in McLean, VA, the perfect place to build my own “Downton Abbey”–style manor. And the deal went forward without a hitch—that is, until closing day.

Soon after I arrived at the title company’s office on the big day, my real estate agent sheepishly handed me a set of 40-year-old covenants that restricted what I could build on the site. Looking back, I know that I should have smiled politely at the six people gathered and suggested we reconvene later after I’d studied this giant wrench in my plans. But I didn’t want to inconvenience everyone, so I closed the deal.

It was an agita-inducing mistake. Even though those covenants didn’t derail my dream home’s construction, they caused me constant anxiety.

This is not just a concern for those building a home from scratch: For many home buyers, closing day is daunting, and coping with last-minute surprises can be tricky. Some problems are minor and easy to solve; others can wreck a deal. So which are which? Let’s take a look.

Ugly walk-through revelations

The dreaded walk-through is the top reason for surprises on closing day, and for good reason: This final inspection of the home happens the day before your settlement—or even the morning of—so there’s little time to prepare for whatever problems might pop up.

Who knows? A sudden storm could have poured water into the basement, or now that the furniture is all gone, cracks in walls or other flaws may be exposed.

How bad is it? If the problem is serious, like flooding, you should definitely proceed with caution. To avoid this snafu, make sure to inspect a home as thoroughly as possible before your final walk-through to avoid last-minute surprises.

Don’t be shy about asking for another look-see after a big storm to vet for dampness or flooding. But a last-minute discovery of a problem is not necessarily a deal breaker. Just ask the seller to cover the cost of those repairs, and put the funds in escrow. Be sure to come with estimates from professionals on how much those fix-its will cost.

What stays, what goes

Another common issue that crops up during the walk-through is misunderstandings about which items get transferred with the sale. For instance, maybe you loved the seller’s antique stove, ceiling fan, or other household item and assumed it would stay—but you find out the sellers took it with them.

How bad is it? Unless you’re really attached to the item, you may want to let this one slide if you want this deal to go through. The easiest way to avoid these misunderstandings is to delineate in a contract what remains in the house or must be moved out, says Ben Niernberg, executive vice president of business development at Northbrook, IL–based Proper Title, LLC.

“Be very detailed on what’s staying and going,” he says. “Washer, dryer, ceiling fans, fixtures, appliances—be diligent during your initial inspection.” Also, make sure the contract reflects your expectations.

Credit challenges

Even though you were probably approved for a mortgage a month or so earlier, even small changes in your financial picture since then can affect your credit score and create problems up to the moment you close on the property. Changing jobs, applying for a credit card, falling behind in paying bills, even sudden infusions of cash can red-flag your deal.

How bad is it? Pretty bad. If a lender withdraws the offer, you won’t be able to close until you secure another mortgage, which could take weeks. Or, if the lender wants to increase your interest rate, as it usually does in these situations, then you’ll have to decide if you can still afford the purchase.

To head this issue off at the pass, contact your lender the day before closing to discuss and solve any issues that may have turned up. Also, try to avoid making any sudden financial moves in the weeks leading up to the close, like quitting your job or receiving a $10,000 “gift” from a family member to help out with home buying—that could, ironically, throw a wrench into the process.

Real estate closing money transfer misunderstandings

On a real estate closing day, the chief order of business is to transfer funds. Some financial institutions and title companies prefer cashier’s or certified checks; others want funds to be transferred electronically. Show up with the wrong paperwork or account numbers, and you’ll be left scrambling.

How bad is it? This misunderstanding should be nothing more than a speed bump. To avoid it, ask your agent and lender before closing what form of payment is required. Also bring your checkbook to pay for small items that might crop up, like an unpaid electric bill.

Title trouble

A title company—which confirms details about your property such as past ownership, liens, and the aforementioned covenants—could bring up issues on closing day. If that happens to you, don’t be afraid to step back and insist on taking time to digest any details, problems, or stipulations attached to the property.

How bad is it? It depends on what the search turns up. Some problems, like tax liens or a claim on the property from a relative or co-owner, can postpone a real estate closing. Other things, like the covenants I mentioned above, or unpaid HOA dues, may be surprises but not deal breakers. But any and all title defects must be fixed before you can close on the property. It may be frustrating, but when you leap into homeownership, it’s always better to be safe than sorry.

SOURCE: Realtor.com

3 Key Factors Affecting Home Affordability

Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most recent peak in October. But there’s more to being able to afford a home than just mortgage rates.

To really understand home affordability, you need to look at the combination of three important factors: mortgage rates, home prices, and wages. Let’s dive into the latest data on each one to see why affordability is improving.

1. Mortgage Rates

Mortgage rates have come down in recent months. And looking forward, most experts expect them to decline further over the course of the year. Jiayi Xu, an economist at Realtor.com, explains:

“While there could be some fluctuations in the path forward … the general expectation is that mortgage rates will continue to trend downward, as long as the economy continues to see progress on inflation.”

And even a small change in mortgage rates can have a big impact on your purchasing power, making it easier for you to afford the home you want by reducing your monthly mortgage payment.

2. Home Prices

The second important factor is home prices. After going up at a relatively normal pace last year, they’re expected to continue rising moderately in 2024. That’s because even with inventory projected to grow slightly this year, there still aren’t enough homes for sale for all the people who want to buy them. According to Lisa Sturtevant, Chief Economist at Bright MLS:

“More inventory will be generally offset by more buyers in the market. As a result, it is expected that, overall, the median home price in the U.S. will grow modestly . . .”

That’s great news for you because it means prices aren’t likely to skyrocket like they did during the pandemic. But it also means it’ll probably cost you more to wait. So, if you’re ready, willing, and able to buy, and you can find the right home, purchasing before more buyers enter the market and prices rise further might be in your best interest.

3. Wages

Another positive factor in affordability right now is rising income. The graph below uses data from the Federal Reserve to show how wages have grown over time: 

SEE GRAPH HERE

If you look at the blue dotted trendline, you can see the rate at which wages typically rise. But on the right side of the graph, wages are above the trend line today, meaning they’re going up at a higher rate than normal.

Higher wages improve affordability because they reduce the percentage of your income it takes to pay your mortgage. That’s because you don’t have to put as much of your paycheck toward your monthly housing cost.

What This Means for You

Home affordability depends on three things: mortgage rates, home prices, and wages. The good news is, they’re moving in a positive direction for buyers overall.

Bottom Line

If you're thinking about buying a home, it's important to know the main factors impacting affordability are improving. To get the latest updates on each, give me a call or send me a message.

SOURCE: Keeping Current Matters

12 Ways to Promote Wellness in Your Home

SOURCE: Houzz

Experts share tips for enhancing physical and mental health at home

Designing for wellness at home means creating spaces that are good for physical and mental health. It incorporates everything from improving air quality to using textures, materials, colors, shapes and furniture layouts that ease anxiety and make us feel closer to nature. Here experts weigh in, offering advice on how people can promote wellness at home. While there are many elements to take into account when building a new home, from the foundation through the roof, this list focuses on small, doable adjustments you can make.

1. Eliminate Tripping Hazards

Jamie Gold is a certified kitchen designer, a Mayo Clinic-certified wellness coach and author of the book Wellness by Design: A Room-by-Room Guide to Optimizing Your Home for Health, Fitness and Happiness. In her book, safety is an important aspect of staying well at home. This includes making sure contractors are licensed and that they build up to code, choosing nontoxic materials and minimizing the chances of an at-home injury.

“Eliminating the possibilities for falls at home is crucial,” Gold says. Some of the biggest tripping hazards around the house include loose area rugs, cords, shoes, bags and pet bowls.

2. Create a Landing Zone

To minimize tripping hazards, Gold recommends creating a spot where everyone in the household has a specified place to put their outside-world things away before entering the rest of the home. She prefers to take her shoes off and put on house shoes. This prevents tracking germs inside. In addition to a designated place for shoes and a place where people can sit and put them on, she also recommends having a spot for everything you need to grab before heading out of the house, including coats, bags, phones, sunglasses and keys.

“We are always time-pressured to find things like a backpack, sports equipment or keys before leaving the house,” she says. Staying well-organized means not only not tripping over these things, but also saving time and preventing the frustration and stress that come from frantic last-minute searches when you’re trying to get out the door.

3. Declutter

Another way to stay organized is by getting rid of things you don’t need or that don’t bring you joy. “Start by focusing on what’s needed for the space for functionality, and by looking at what’s getting in your way,” Gold says.

This doesn’t mean you have to clear out all of your favorite objects. It means editing them down to the things that make you happy and having designated display spots for them. In this living room by CAVdesign, wall-hung shelves and drawers keep books, sculptures, photos and other objects neatly corralled.

4. Set Up Your Kitchen for Healthy Meal Prep

Gold is also a big advocate of promoting preparation of healthy foods in the kitchen. This means an uncluttered and hygenic space that functions well for meal preparation. Some of her suggestions include maintaining clean and clear countertops; creating designated zones for prep, cooking and cleanup; incorporating a steam oven or combi oven into your kitchen to help keep the nutrients in your food; and keeping small appliances you’ll need for healthy meal prep, like a blender for smoothies, close at hand.

Another way to promote healthful eating at home is to keep your food well-organized and easy to access. Use clear glass containers to organize food in the fridge, and make sure everything in your pantry or food cabinets is easy to see and access. The easier it is to see and reach the healthy food, the easier it is to grab it for a snack or for it to inspire a menu.

5. Create Connections to the Outdoors

Promoting wellness at home has brought about a relatively new standard for buildings and designers. The International Well Building Institute offers the WELL Building Standard, which focuses on “features of the built environment that impact human health and well-being,” as well as a WELL-accredited professional certification for designers.

Laura Britt is a WELL-certified interior designer who helped the owners of the Dallas home seen here create a healthy home. She forged strong connections to nature throughout the house. These glass doors off the kitchen allow the couple who live here to enjoy views of their backyard while working at their kitchen island. The room also includes a window seat that looks out on the garden. And the glass doors provide direct access to a deck as well as an edible garden. This makes it easy to gather fresh ingredients for garden-to-table meals.

6. Replace Bathroom Fans

Interior designer Laura Freeman of Merits Design Group has always focused on designing for wellness and is a WELL accredited professional. She gave the bathroom seen here a light remodel but says the most important move she made was replacing the fan. “This house was 24 years old, and so was its bathroom fan. Older fans are ineffective and don’t extract allergens and moisture like they should,” she says. “It’s so easy for mold to build up. Even a subtle amount can create poor indoor air quality.”

In general, Freeman recommends fans that are Energy Star-rated and have a CFM (the amount of air movement measured in cubic feet per minute) of 80 or higher.

7. Incorporate Biophilic Design

Interior designer Shannon Ggem thoroughly studied how design can affect health in health care-related settings. Then she worked on two self-contained room types for immunocompromised children undergoing lifesaving treatment, and for their accompanying family members, for the Los Angeles Ronald McDonald House. She is also a speaker on biophilic design for the National Kitchen and Bath Association.

Biophilic design is based on the idea that people have an innate tendency to seek connections to nature. Because we spend so much time indoors, bringing organic materials, shapes and colors that remind us of nature to interiors helps us feel connected to the natural world. In the bedroom seen here, Ggem used natural colors and fibers to promote wellness. For example, the cotton velvet settee is a deep leafy green.

A fiddlehead fig adds a natural element to the corner of the room and helps with air filtration. The homeowners also wanted wall-to-wall carpeting in the bedroom for sensory purposes — softness under their feet and sound control. “This carpeting is 100% wool, which is natural and which humans have figured out how to keep clean for many years,” Ggem says.

8. Design a Bedroom for Relaxation and Peace

A good night’s sleep is so important to maintain good health, so make your bedroom a relaxing sanctuary. Gold recommends mitigating any light in the bedroom that can affect sleep. Whether the illumination comes from a streetlight, a floodlight or passing cars, she suggests using blackout shades or blackout-fabric-lined drapes to help ensure a good night’s sleep.

Ggem emphasizes the importance of maintaining natural circadian rhythms, which can be interrupted by indicator lights. These are the small lights on things like surge protectors, air filters and clocks. She recommends covering them with electrical tape to keep them from affecting sleep patterns.

9. Replace Fake Plants With Real Plants (or Nothing at All)

While fake plants can provide some of the good feelings of biophilia, Freeman advises her clients to get rid of them. “Fake plants harbor so much dust and allergens. Unless you’re constantly cleaning them, it’s impossible to keep the air quality clean with them around,” she says. While she’s all for real plants and the air filtration they can provide, she knows some people just can’t keep up with maintaining them. “Getting rid of fake plants still improves the current air quality by eliminating of all that dust,” she says.

10. Use Nontoxic Fabrics and Foams

When buying new pieces of furniture or accessories like rugs, do your research on materials. Part of creating a home that promotes wellness is choosing nontoxic furnishings. For the home seen here, the owners both worked in the health care field and were very aware of how many toxins could be brought into a home through furniture and finishes. They hired Britt to outfit the home to the WELL Building Standard.

“We were extremely diligent in designing with nontoxic materials to lessen the toxic load in the space. All furnishings were carefully vetted to ensure they were healthy and didn’t bring toxins into the home,” she says. Toxins include heavy metals, formaldehyde, PVC and volatile organic compounds.

For example, all the rugs in the house are woven from organic materials, including jute, cotton, wool and silk. And not only are the upholstery fabrics organic and free of carcinogens, but the cushions they cover are made of formaldehyde-free foam and down.

11. Set Up a Clean, Safe and Comfortable Workspace

In the last few years, more people than ever have found out what it’s like to work from home. And many have learned that the spaces they had to haphazardly set up are giving them aches and pains.

“The ergonomic aspects of an office include an adjustable chair, setting the keyboard position and having a phone that functions well on speaker or headphones,” Gold says. “If you’re working with paper, you’ll need good light. Lighting includes natural, task and ambient light.” She also notes that while natural light is wonderful to have in a workspace, you’ll need to place your screen out of the way of any annoying glare, or add window coverings to eliminate it.

Also, an office can tend have a tangle of hazardous cords. Plan accordingly with furniture placement or outlets in the floor to avoid tripping hazards.

Because sitting all day has been declared the new smoking, Gold recommends preventing sedentary days. A yoga ball in lieu of a desk chair or an adjustable standing desk like the one seen here can help. “I also recommend ‘dancing between drafts.’ After I finish a task, I like to turn the music up and dance like nobody’s watching and hope that no one is,” Gold says with a laugh. “I also like to walk around the room when I’m on the phone.”

12. Create Calm Spaces

Calm spaces provide balance. This includes balance between colors and elements and mirroring two sides of the room to create symmetry.

“Bilateral symmetry is familiar to us because so much of nature has bilateral symmetry. For example, think of how you can fold certain leaves in half and they are the same on both sides,” Ggem says. “Human beings respond positively to bilateral symmetry because of nature.” Bringing this kind of familiar and neatly organized balance to a room’s layout helps make it calming.

SOURCE: Houzz