Showing posts with label home buying. Show all posts
Showing posts with label home buying. Show all posts

Thursday, May 3, 2012

10 Decorating Tips for a Stress-Free Home

Do you like stress?  I don't like stress, it's stressful.  Here's a good reason to do some low-cost redecorating: The choices you make can result in enhanced mood, less stress, and better sleep. To turn your space into a healing haven, follow these easy 10 decorating tips for a stress-free home.

IN THE ENTRYWAY
1. Create a feel-good focal point. The first thing you see when you enter your home should be something you love, whether that's a piece of art, a vase of flowers, or a special souvenir, says Stephanie Roberts, author of Fast Feng Shui: 9 Simple Principles for Transforming Your Life by Energizing Your Home. "A beautiful first impression helps you relax from the get-go."

2. Organize daily debris. If you see old newspapers on the floor and bags of Goodwill donations waiting to be dropped off, you're going to think obligation, not relaxation. "Piles of stuff at your entryway send the message that there's more mess and chaos inside, and who wants to walk into that?" Roberts says. "Have a designated place for every item that enters and exits your house," recommends Paige Rien, an interior designer in New Jersey appearing on HGTV's Hidden Potential. She suggests placing a couple of chic containers near the front door, one for outgoing items and one for incoming things.

IN THE LIVING ROOM
3. Create space. "Our anxiety builds in small spaces if there's too much stuff," says Rien. To reduce the clutter and make the room feel larger, ask yourself if you really need all those end tables or picture frames, and cut anything deemed nonessential. Consider painting a table or bookshelf the same color (or a similar one) as the wall it's up against, so it "disappears" into it. Painting walls white or a light color will also make a smaller room feel more spacious.

4. Light up locations, not whole rooms. "Bright overhead light can make it difficult to wind down at the end of the day. Think about how a casino's lights keep you revved up," says Katherine Grace Morris, PhD, a psychologist in Maryland who specializes in making over people's home and work environments. Use spot lighting for areas where you need brightness, such as next to the sofa where you read, and put overhead lights on dimmers. Also, switch to full-spectrum bulbs, which mimic natural light better than standard ones do. "They cost a bit more, but they're worth it because they create a more soothing natural atmosphere," says Dr. Morris.

5. Create pedestrian-friendly paths. "If you can barely get into a chair without banging your leg on the coffee table, or if the path from the sofa to the door is cramped, rearrange your furniture," says Roberts. "Not being able to safely and easily move about produces anxiety--not to mention an easy way to trip or stub a toe."

6. Simplify your color scheme. Use restraint with patterns and loud colors. If you mix patterns, keep their color schemes similar, and if you like lots of colors, keep patterns to a minimum. "If you have too many bright colors or high-contrast patterns in a room, your eyes are going to be drawn all over the place, making it difficult to relax," says Dr. Morris. Simple designs and colors, on the other hand, are soothing. "The less-is-more rule applies to shelves and tabletops too," adds Rien. "Don't fill them just because they're there. Instead, display just a few pieces that are meaningful."

7. Bring the outdoors in. Being surrounded by natural elements encourages friendlier interactions with others, found a University of Rochester study. For a more peaceful home, bring in a couple of houseplants or hang a mirror across from your largest window to maximize outdoor vantage points. If your view includes more buildings than trees, hang landscape photographs on the walls, says Roberts. 



Wednesday, April 18, 2012

Housing Set for Spring Recovery as ‘Fear Factor’ Fades

Five years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery.

Reduced prices, record-low mortgage rates, higher rents and an improving job market appear to be emboldening many would-be buyers. 

Open houses are drawing crowds. A wave of foreclosures is leading investors to grab bargain-priced homes.
And many people seem to have concluded that prices won't drop much further. In some areas, prices have begun to tick up. 

Thursday, January 12, 2012

How much does it cost to buy a home?



Often when speaking with potential buyers, I am asked how much will it cost to purchase a home.  Aside from the purchase price of the home there are a few expenses to remember. 

Down Payment

This is entirely up to the Buyer.  With FHA loans, a buyer can put as little as 3.5% down.  This payment is broken up between the initial deposit that is submitted with the Offer to Purchase, second deposit and the remaining amount which is due at closing.  Conventional loans usually want to see 20% down but different mortgage lenders will also allow 3.5% as well.



Inspections
After the Buyer has submitted and offer which is accepted the process begins. A home inspection is not required but it is strongly recommended.  A home inspector will inspect every facet of the home from the plumbing to the electric to the operation of windows.  They will let you know if there are any issues with the home and how serious they are.  A good home inspector will also provide Termite inspection and a Radon test too.  Inspections can range from a basic inspection $300 up to a complete inspection which includes termite and radon for $600.  Most inspectors will offer a discount if you order all three tests.

Closing Costs
Closing fees, also called settlement costs, cover almost every expense associated with your home loan. Because closing costs typically amount to between 3% and 5% of the sale price, it is best to wait until you receive the good-faith estimate before committing to a loan. Smart shoppers obtain good-faith estimates from two or more lenders, compare their costs and ask questions about any large discrepancies. Taxes are Title Insurance are the largest components of Closing Costs so I'll explain these in more detail.


Transfer Taxes
Closing costs also include Transfer Taxes:  In the City of Philadelphia there is a total of 4% due for taxes.  This is split between the Buyer and Seller, 2% from the Buyer and 2% from the Seller.


Title Insurance
These fees cover the administrative costs of a title search, title examination, issuance of the title commitment/binder and final title insurance policy(ies.) Also included would be charges for conducting the closing/settlement/escrow. You are free to select the company to conduct your closing/settlement/escrow, and to shop for the best pricing, however Title Insurance fees are regulated by the Federal Government so fees will be fairly similar between companies.  Costs will differ depending on which policy a buyer chooses, if the home was sold previously within the last 10 years a cheaper "re-issue" policy would be available.


Read more...

You can visit my website ThePhillyKind.com for market information, search available listings or contact a mortgage consultant.