Renovating a home is not only a way to increase the family’s standard of living but it can also be seen as an investment. There are multiple ways for someone to increase the value of their home and renovations are one of the most straightforward. At the same time, some investments offer a better return than others.

Those who are thinking about selling their home in the future should strive to get every dollar possible. Renovations can make this happen.

Garage Door Replacement

When people think about renovations, they don’t often think about the garage. Some people don’t even include their garage in their square footage because it might not be heated; however, replacing the garage door can provide a major investment return.

In some cases, the value of the garage door itself may double with a simple replacement. While some people dread the prospect of replacing a damaged garage door, even upgrading a working one can lead to a significant return!

Manufactured Stone Veneer

Stone is a popular building material because it provides a sleek look in addition to being versatile. Therefore, it should come as no surprise that a stone veneer will also provide a major investment return. For those who spend around ten thousand dollars on a stone veneer, the value of this investment may nearly double. This provides a great way to not only upgrade the home but also increase its resale value.

Entry Door Replacement

A home’s doors are incredibly important because not only do they a measure of security but also they also draw someone’s eyes. Replacing an entry door may provide an investment return of close to 90 percent. Because this job can be handled quickly by a trained professional, this can be a quick upgrade for those looking to boost the value of their home before selling it.

Plan for Warm Weather Renovations

With the weather starting to heat up, many individuals and families are looking to plan their renovation projects for the summer. Think about the projects wisely as they can have a significant impact on the value of a home. Renovations should be viewed as investments as well as upgrades for the family’s standard of living. 

Did you just move into a new city? Transitioning to a new city is hard enough, but when you also need to find a job, it can be even tougher. Since everything is a bit new to you, there are definitely some strategies to implement that will make your job hunting easier. Here are some tips to keep in mind.

1. Let People Know You are Looking For A Job

Everywhere you go, spread the word that you are in the market for a new job. In general, people love to help out other people. Someone you speak with will surely know of a job opening; either where they work or someplace else. 

2. Be Ready With Your Business Card

Once you start having conversations with people about needing a job, they will want to know what you do and how to contact you. Have some attractive business cards printed up with your contact information and area of expertise.

The more of these you can get into circulation, the higher your chances of finding a job sooner rather than later. 

3. Use Your Existing Network

Check back in with your network where you used to live and see if anyone knows someone in your new city. You might be surprised to find out how vast a network of connections can be. If you can make a new connection in your new city through your old network, they may be able to introduce you to potential employers in the area where you now live.

4. Go Through The Employment Agency

Employment agency work can sometimes transition into permanent positions. Working through an employment agency will not make you wealthy, but it can help to pay the bills until the time you can find a job that fits with your career goals.

Plus, employment agencies can often put you to work the very next day or the next Monday. It is a temporary solution, but a worthwhile use of your time.

5. Spend Time Getting To Know The Locals

Some cities are known for being harder to find a job as an outsider. A local reference can help you to pass the test and get an interview. Get to know some locals who might be willing to vouch for you as a local reference. 

These five tips will help you get a job in no time in your new city. Remember, your first job in your new city might not be your dream job, but at least it will get you in the door.

 

 

Many millennials are reaching the age where they are thinking about buying homes for the first time. It turns out that many members of this generation are finding this process challenging. Even though the housing market is great for those looking to buy, surveys indicate that this generation also finds the process overwhelming.

Reports have been published showing that many millennials are planning to buy their first home in the next year, showing that owning property is still a strong part of the American dream. Furthermore, many millennials also know that this is a great time to buy. Why are millennials finding this process so challenging?

Student Loan Debt

One of the biggest reasons why millennials are having issues purchasing a home is student loan debt. When someone is looking for a home, any potential lender is going to take their existing debt into account. It is no secret that student loans are a major issue right now.

With numerous millennials saddled with student loan debt, this makes it hard to qualify for a mortgage. While other forms of debt are easier to pay back, student loan debt is not. Some millennials have student loan debt that looks like a mortgage. 

A Poor Understanding Of Costs

Even though millennials may look at their rent payments as a solid barometer for their mortgage payment, there are other costs that millennials need to consider. These include real estate taxes, HOA fees, homeowners’ insurance, and potential repairs. Therefore, they might need to reset their expectations.

Comparison Is A Dangerous Temptation

Finally, too many millennials are tempted by what they know. Many millennials end up moving back into their parents' house after they finish school. The job market can be tough and they think this is a great way to save money. On the other hand, this also means they might end up looking for a house that is similar to their parents'. 

Many millennials have set the bar high for their first home. A property like their parents' simply isn't within the budget. An unwillingness to accept this makes it harder to find a home. On the other hand, there are affordable homes out there. Millennials simply need assistance to find them.

Attractive landscaping is one of the first things that potential home buyers notice. They may see the landscaping in the photos of a home for sale or may even do a physical drive-by. The view of the property from the street is called "curb appeal." It is important to make this be as nice as possible.

In many parts of the country, there are pressures on the water supply that make having a lush-green, living lawn very costly or even prohibited by the local regulations. Innovative technology and the use of natural ground covers, such as stone and rocks are replacing the green lawns that most people think of when considering landscaping a home properly.

Here is a guide to some landscaping that is attractive and worth considering to make a home look spectacular and require little maintenance:

Artificial Turf

Artificial turf has improved dramatically over the past few years. There is no longer the need to use the obvious green plastic covering of cheap fake grass. The newest artificial turf products look so much like real grass that it is nearly impossible to tell that they are not real. They can be installed over drainage rock and washed down with water like real grass.

Decorative Concrete

Molded concrete is now available in so many surface treatments, textures, and colors that it can represent almost any popular covering. For example, a nice European-style, cobbled-stone, street look is a popular choice for driveways and walkways. It is made out of molded, colored concrete, not stone, and installs easily.

Rock And Stone

Replacing areas of grass in the front yard with decorative rock and stone makes a nice look. It is better not to use wide swathes of this ground covering in big blocks. Instead, for a better aesthetic appeal, use natural rock and stone to create unique, eye-catching areas. For example, surrounding a wishing well with a nice circular area of rock pebbles creates a nice look.

Artificial Trees And Bushes

Advancements in the manufacturing of artificial bushes and trees developed very convincing products that are durable enough for exterior installation. Some best looking ones are the evergreen bushes.

They come in perfect heights of various sizes. They never need watering or trimming to make them look attractive. The only maintenance that they need is the occasional spray washing to remove dust and things that might fall on them like leaves from neighbor?s trees.

There are many to choose from. The modest-sized bushes are very inexpensive and usually less than $50 each. At the other end of the spectrum, are the exotic 11-feet tall artificial cheery trees that have built-in LED illumination. These are very dramatic and cost many thousands.

Summary

With these interesting ideas to consider, take a look at landscaping in a new way. Even though artificial landscaping requires an upfront investment, it can last for many years and may reduce overall maintenance costs significantly. If you ever want to sell the home, there will be much less landscaping needed to get it ready for sale.

In the wake of the recent news reports, you might be looking for ways to make your home safer. Some of the most common accidents and events that take place in homes include poisoning events, falls, and even burglaries. The good news is that there are ways to improve the safety of your home. You might even be rewarded with a lower home insurance premium!

Invest In An Alarm System

It is not easy to figure out exactly how many burglaries are prevented every year by having an alarm system; however, even having a sign in the front yard could be enough to scare off potential intruders. If you are looking for a quick and easy way to make your home safer, invest in a home alarm system. 

The price of a home alarm system from vary from provider to provider. Homeowners can tailor their security services to meet their needs. This is a great way to keep burglars at bay.

Purchase A Video Doorbell System

There has even been a rise in the frequency of porch pirates, or those who steal the packages of others from their front door! If you are someone who buys a lot of stuff online, then you should get a video doorbell to watch your packages when they get dropped off.

Furthermore, you can even use this video doorbell system to see who ringing your doorbell when you aren't home. In some cases, you can even communicate with them, providing them instructions, or asking them to leave when necessary.

Buy Automatic Outdoor Lighting Systems

Lights are often enough to scare people away. There are plenty of motion sensor lights that you can purchase for your driveway, porch, and front door. These lights can even be set to turn off when the sun comes up to save energy. 

Keep Your Home Safe

These are a few of the easiest ways that you can make your home safer. If you take steps to keep burglars at bay, not only will you protect your home but you might even save some money on home insurance! 

Owning a house comes with major responsibilities and one of the most important is routine maintenance. While many people like to skip routine maintenance in an effort to save money, the reality is that these routine maintenance is going to save people down the road. The reality is that maintenance is a homeowner's first line of defense when it comes to protecting their most valuable investment, which is their home.

There are a few projects that may save homeowners thousands of dollars down the road.

Inspect The Plumbing Connections

It is easy to forget about the plumbing system because many people don't even see their pipes until problems arise. The idea behind expecting the plumbing system is that problems can be spotted before they cause a house to flood. Some of the appliances that people need to think about include refrigerators, faucets, dishwashers, and washing machines. All of these devices have hoses that connect to the water supply.

If these hoses tart to crack, leaks can develop slowly. Eventually, this water is going to get behind the walls, causing mold to grow, and it may also get underneath the floors, causing them to warp. It is important for people to take a look at these pipes from time to time. If leaks are identified, they can be repaired.

Clean The Dryer Ducts And Vents

Many homeowners overlook their ductwork; however, people need to take the time open up their dryers and change their filters between every load. The vents that people use to remove lint from their clothes will clog up quickly. If the dryer is unable to suck air through this vent, it is going to have to work harder to dry the clothes. This is going to cause the dryer to overheat. It might even lead to a housefire. In order to prevent this from happening, homeowners should change their dryer lint filters after every load.

Routine Maintenance Is Critical

These are a few of the most important points that homeowners need to remember when it comes to routine maintenance. Homeowners need to have a regular schedule that they follow to ensure that none of these tasks are overlooked. It can prevent disaster from happening.

For most people, their home is the most valuable investment they are ever going to make. Therefore, it should make sense that people will want to improve its value over time. In this case, people are going to need to invest in power tools. Those who are interested in home improvement projects need to know about the five most important power tools available in today's market.

A Power Drill

While this might seem obvious, many people do not own a power drill. This is almost always at the top of the list of the best power tools on the market. It is a versatile tool that can handle everything from hanging pictures to putting in a fence. People need to make sure they know about the various options for drills on the market and find the one that is right for their needs.

A Jigsaw

A jigsaw is a unique but versatile saw that can help people with a variety of home improvement projects. This type of saw is great for helping people cut shapes and curves as well as straight lines. Try to find a jigsaw that has a variety of orbital settings. This will provide the user with added accuracy and speed.

A Circular Saw

This is another saw that is important for homeowners to have. This is great for heavier cutting jobs. They have the ability to cut through thick materials easily. There are both cordless and corded options and they pack a punch. Cordless varieties are a bit heavier but they provide the user with access to tight spaces

A Cordless Screwdriver

Traditional screwdrivers can pose a bit of a challenge and get uncomfortable over time. This is where a cordless screwdriver is helpful. This removes a significant amount of effort and makes projects go by more quickly. These screws can be used to both tighten and loosen screws.

A Rotary Tool

Finally, a great power rotary tool is a must. This is used to help people with cutting, grinding, sanding, and more. This is great for performing a variety of tasks around the home and can help people with numerous accessories. Do not overlook the value of a powerful rotary tool.

Under the Jumpstart Our Business Startups (JOBS) Act, which was signed into law by President Obama on April 5, 2012, the Securities Exchange Commission (SEC) relaxed the rules about advertising investments. This allowed the trend of crowdfunding to expand dramatically giving real estate investors more opportunities for pooled-funds investing.

What Is Polled-Funds Investing?

A pooled investment fund takes in money from a group of investors to use to acquire real estate for larger amounts than each investor's money would support. Prior to the passage of the JOBS Act, these pooled investment funds were only accessible by large investors through private placements and private real estate investment trusts (REITs). The minimum investment might be up to $250,000 or more. High-net-worth individual investors and institutions were the only investors capable of the buy-in to gain access to these investments, which usually offered better and more stable returns.

After the JOBS Act came into being, the advertising of these pooled investment funds was possible under the new law. The phenomena of crowdfunding came out of this. Money from many investors creates a larger investment fund managed by a professional team, intending to obtain strong performance results.

Better Investment Opportunities For The Smaller Investor

These new investment opportunities allow the smaller investor to participate in a greater diversity of real estate than they could achieve on their own. Moreover, an investor can create a pooled fund to acquire a property with the help of other investors. To use this technique to buy real estate, it is helpful to work with a qualified real estate agent or broker who understands this concept of pooled investment funds.

Due Diligence Required

Not all investment pools succeed in producing decent returns for investors. The SEC is no longer regulating these polled investments carefully. This means that the challenge of due diligence falls on the individual investor. Before investing, it pays to conduct exhaustive research about the pooled investment fund, the cost of the fund management fees, the expertise of the fund's management, and their past investment-performance history. Always remember past results are no guarantee of future performance and never invest any funds that you cannot afford to lose.

Summary

The relaxing of SEC regulations in 2012 allowed many opportunities for pooled investments to flourish. While there is the possibility of strong returns on investment, there is also some risk. Investors considering a pooled investment fund, such as a crowdfunding deal, should conduct thorough due diligence and get advice from a qualified REALTORS® in the market where the property will be located before making any investment.

Some clever millennials are teaching the older boomers a new way to invest in real estate, which goes by the name of "house hacking."

What Is House Hacking?

House hacking has nothing to do with computers, although you may go on the Internet to find candidates for real estate investments suitable for hacking. The goal of house hacking is to acquire a multifamily rental property, live in one part of it and rent out the other parts for enough rental income to cover most, if not all, of the expenses of owning the property.

Live Rent-Free

As the on-site manager of a property that you own, you do not have to pay any rent. If you are clever, and the rental market is robust in the area that you choose for house hacking, then the rental income from the other units in the multifamily property will be sufficient to cover the property's expenses. Then, you live rent-free.

Finding A Hackable Property

Multifamily properties, up to four units, are the best candidates for house hacking. A two-story townhouse that divides into two separate living spaces, a duplex, a triplex, or a small apartment building may be suitable.

Cash Flow

Calculate the cash flow from the portions of the property that rent to others. If the rent covers all the expenses then the property is said to have a positive cash flow. That is the goal. Have some funds set aside to cover any downtime when a unit is vacant between renters.

Financing

Owner-occupied properties qualify for lower financing rates than non-owner-occupied properties, which are held purely for investment.

Landlord Headaches

As the owner/landlord you will deal directly with any tenant relations and problems. If a pipe breaks in the middle of the night, you are the one who will have to deal with the problem. Be sure to screen tenants thoroughly and maintain the property. Some do not like dealing with tenants; however, if you are careful when selecting tenants and handle any problems professionally, this work provides an excellent experience for understanding further real estate investments to build up your portfolio.

Summary

House hacking came about especially for those from the younger generation of millennials simply because buying a property is very challenging on one income and even difficult on two incomes. If you consider the payment of rent by others as part of the total income that supports a property, the math may work out better. When the numbers work out, you may have found an investment opportunity with house hacking. Work with qualified real estate agents and mortgage professionals who specialize in multifamily properties for the best results.

One might wonder if the continued improvement in the access to online information about properties for sale has removed the need for working with a qualified real estate agent or broker. It has not.

The trends reported by the National Association of REALTORS® (NAR) are interesting. Buyers are finding a home to purchase by searching online in larger numbers than before. In the NAR survey of homebuyers, the home was found online by the buyer for more than half of the homes purchased, with only 28% of the homes purchased suggested to the buyer by a real estate agent.

Even so, NAR also reports that 87% of buyers made their home purchase with the help of a real estate agent or broker. This trend is increasing. In 2001, only 69% of home buyers bought a home with the involvement of a real estate agent or broker. Why the upward trend of working with a real estate professional when buying a home?

The explanation is surprising. One is the cost of buying a home that is for sale by owner (FSBO) may be very close to the price of the same type of home bought with the help of a real estate agent. An FSBO home sale may put a little more money in the pockets of the seller but little of that savings on the real estate commission goes to the buyer. Moreover, the FSBO process creates a disadvantage when trying to market a home without a real estate professional's help. These trends are making FSBO properties decrease.

Additionally, using a real estate professional may help the transaction go more smoothly. A real estate agent handles the buying and selling of properties all the time. A homebuyer does this less often and therefore may not have the skills to manage a real estate transaction effectively.

Summary

When buying a home, it is the preference of the vast majority of buyers to work with a real estate professional. The process is likely to be easier with less chance of costly mistakes. The price paid for the home will likely be around the same as trying to close a deal without the benefit of using a real estate agent.

For sellers of a home, working with a professional real estate agent comes along with advice about market pricing, how to stage a home for better resale value, and the benefits of using effective marketing strategies that get the home seen by more prospective buyers.

For buyers and sellers, it becomes clear that working with a real estate agent is vastly preferable. This is why so many are using the services of a licensed professional to buy or sell a home.

The "Golden Girls" trend got its name from the popular television sitcom about four elderly women who live together to share expenses. It is becoming a popular way in real life for elderly adults to share homeownership and it has many benefits.

The cost of assisted living is quite high. The median cost in the United States for assisted living is $4,051 per month. In many parts of America, that amount makes a substantial mortgage payment. Rather than pay that high price to live in an adult assisted-living community, many able-bodied elderly are choosing to pool their resources and live together in a large home that they own together.

Buying A Home To Share

The homes that work well for this are those that have many bedrooms, each with a private bath, and are on one-level. Three- or four-bedroom homes are ideal because the cost of the home and the operating expenses can be shared among three or four elderly adults to reduce each person's cost compared to what they would spend if they were alone.

It Is Fun To Share

The communal areas for a shared-living arrangement are the main living room, dining area, and kitchen. Many find that by sharing the cost of a home, among like-minded peers, that the quality of life is very nice. The pooling of resources usually creates enough money to pay for the expenses and to pay for in-home personal assistance as needed. Most importantly, loneliness is reduced, which sometimes leads to serious depression in the elderly who live alone.

Many baby boomers are now entering retirement. Estimates are that seven out of 10 will need some form of assisted living care. Females still live longer than men on average, so that is why this trend is more about elderly women living together than men. However, the concept works just as well for both sexes.

Multigenerational living is also becoming popular for the same reasons. It costs so much to own and maintain a home that it is not as easily accomplished by households with one or two workers who contribute to pay for the expenses. Most situations benefit from having a third or a fourth contributor, which reduces the average contribution for all.

Get Competent Legal Advice

When considering any shared ownership of a home, it is very important to use the services of a competent legal counsel to draw up the ownership agreement. Shared homeownership is a type of partnership and benefits from having a "buy-sell" provision in the agreement that allows any remaining co-owners to buy out the portion held by a co-owner who dies or otherwise becomes physically unable to continue living in the home.

Summary

Most baby boomers had roommates when they went to college to share expenses. Embracing a "Golden Girls" strategy to share home ownership is like returning to a style from the younger times. It is wise to be very careful about who is chosen to form a home-ownership partnership; however, with proper legal documentation and prudence in choosing who to live with, this can be a very satisfying way to spend your golden years.