Buy What You Need, Not What You Want

Make a list of your ideal home and stick to it while house hunting

 

It's easy to be awe-struck by a razzle-dazzle listing. Everyone loves to look at marble countertops, hot tubs and master suites, but make sure a home meets your practical needs before you start indulging your wants. The average person homebuyer keeps a home for about 9 years, so you want to be sure about your investment before you buy. Gather a list of criteria before you start looking at homes, and keep a journal to keep track how each property you look at matches up with your list.

To get started, think about what you dislike about your current digs. Are you tired of bumping into your significant other in your cramped-quarters kitchen? Are you expecting a new family member, or looking to start a family and worried about space? Are you an empty-nester who wants to streamline and downsize? Make a note of whatever it is that's giving you the itch to move, and make sure its at the top of the list for must-have features. If you're happy with your current home but have to move to a new area, try to match your new home with your current abode's amenities.

Next, consider the amount of space you'll need in your new home. How many bedrooms do you need? What's the least amount of square footage you're willing live in? Make your numbers slightly flexible.

Also, consider the things you love about your current home and neighborhood that you would be unhappy without. Love reading in the late-afternoon sun? Look for a house with a sunroom or bright living area. If you can't live without your daily java, make sure the home you choose has a coffee shop within walking distance.

Once you've written the specifics, prioritize your lists. Put things your new home must have at the top, and put wants (things you'd like to have but don't need) towards the bottom. Share the list with your real estate agent to help them find listings in your price range that meet all of your needs.

 

http://www.frontdoor.com/Buy/Buy-What-You-Need-Not-What-You-Want/2336

By FrontDoor.com | Published: 9/15/2008

SMART WAYS TO UNCLOG A DRAIN

With a few inexpensive household items, you can avoid a costly visit from the plumber by clearing drain clogs yourself.

Using cola..
Pour 3 cups of warm cola down your drain and let it sit overnight; the citric acid in the soda will break up any buildup in your pipes. In the morning, run hot water to help flush the remains.

Dissolve it with fizz.
Drop 3 denture tablets down the drain followed with a cup of vinegar. When mixed together, they bubble to dissolve drain buildup. After the bubbling stops, run hot water down the drain.

Bubble break.
Pour a 1/2 cup of baking soda down the drain, then 1 cup white vinegar immediately after. Cover the drain to force the bubbles down into the pipes; let sit for 15 minutes, then flush it down with a gallon of water.

Bring on the water.
Boil a teapot of water and pour it down the drain very slowly.This will loosen any grease or dirt that may be plugging it up.

Take the plunge.
Plungers are not just for the toilet. Buy a mini version at a hardware store and use it to suck up debris that’s stuck in the drain. Tip: If you line the plunger rim with petroleum jelly it will improve the suction.

A family of four, each showering for 5 minutes a day, uses 700 gallons of water a week; this is enough for a 3-year supply of drinking water for one person. You can cut that amount in half by simply using low-flow aerating showerheads and faucets.

 

 

http://www.pillartopost.com/postnotes/postNotes-pillarToPost-newsletter-jan-2011.aspx#window

CREATING A SPA-TASTIC BATHROOM

With these easy changes, it is possible to create the feeling of a luxurious spa right at home.

Keep a supply of bath accessories on hand. A bathtub tray, fuzzy tub pillow, lavish bath salts and oils all help bring the spa experience home. Break out the fluffiest towels By putting your most luxurious, soft and comfortable towels on display, you will create the look and feel of a sumptuous spa. Shed some (candle) light on it. Light a lot of scented candles. Scents such as Vanilla, Lavender and Juniper help create an aromatherapy environment. Get some focus. A potted plant or vase of flowers creates not only a soothing focal point, but it also adds a splash of color. Plush touch. Use the thickest and fuzziest bathroom floor mat you can find. Your wet feet will appreciate this inexpensive addition. Two is better than one. Install a dual shower head for an invigorating massage each time you shower. The best part is most shower heads require no tools to install.

House Match: Starting Out, This is the most important purchase you're likely to make. You want to get it right.

THE QUESTIONS TO ASK YOURSELF

Regardless of how ideal the market may seem, it's still a good idea to sit down with your real estate agent and think about how you see your life in three or five years and ask yourself some pointed questions.

Can I afford it?

Buying a house will have a significant impact on your finances, so make sure you can handle it.

Housing is more affordable than ever and incentives like low interest rates and the new expanded tax credit are enticing buyers to enter the market. But purchasing property involves a lot of upfront costs: closing costs, down payment, new furniture, moving expenses. Do you have enough cash?

Create a budget for the monthly mortgage payment and homeownership costs, such as general maintenance if you buy a single-family home or homeowners association fees if you buy a condo.

Am I mortgage-worthy?

Say you saved enough cash, but what about your credit? It's not a secret that getting a mortgage these days is harder than it used to be. Lenders are looking closely at all documentation of your income, debts, assets and liabilities, to make sure you don't exceed the maximum debt-to-income ratio. And when it comes to credit scores, the most competitive interest rates (the 5 percent you may have heard about) only go to buyers with credit scores above 700.

The key is to review your financial situation before you check out open houses. Use our affordability calculator to see what kind of monthly mortgage payment you can comfortably afford.

Do I plan to live here for at least five years?

Most personal finance experts say that unless you plan to live in a home for at least five years, you likely won't recoup any of the expenses associated with buying and later selling the house.

Plus, your first few years of mortgage payments primarily pay off interest, not your principal, so you will not have built up a lot of equity in your home. You may be better off renting if you expect to move in the next couple of years. Just because you live in a buyer's market doesn't mean the time is right for you to buy.

If I buy with another person, how will this affect me?

Buying real estate with another person has its perks, if you both have stable financial situations. By combining cash and resources, you're likely to get a bigger, better place than you each would as individual buyers. Plus, when you're starting out, it helps to share the financial burden with someone else.

But before you start house hunting together, sit down, lay all your cards on the table and get the answers to these important questions. Whether you're buying with a spouse, domestic partner, relative or friend, setting the ground rules first will save you both a lot of headaches in the future.

Is it worth the money?

Frey admits that she's spending slightly more than she wanted to, but, in the end, she decided it was worth it because "the appliances stay, the kitchen is remodeled and it's a house that I won't outgrow in a few years."

In other words, the place in which you live is an investment and the money will always be relevant, but that old-fashioned moniker "home sweet home" is decidedly modern these days. People aren't buying houses anymore; they're buying homes.

 

By Geoff Williams and Annalisa Burgos, FrontDoor.com | Published: 10/07/2009

http://www.frontdoor.com/buy/House-Match-Starting-Out/55312/p2