Are you dreaming in color of your future new home? You probably can't wait to get your hands on a paintbrush and a bucket of beautiful new paint. But how will you choose the colors to decorate your new home? If you've been to a paint store recently, you know there are thousands upon thousands of shades to choose from. Choose wisely, because color can affect your home and psyche. Shades of Purple Whether you call it purple or eggplant or violet or plum, purple evokes feelings of warmth and vitality in a home. The dustier shades of plum are ideal for walls in the dining room, where taste buds … [Read More...]
Last week's economic releases included readings on construction spending, public and private sector jobs and national unemployment. Weekly reports on mortgage rates and first-time unemployment claims were also released. Construction Spending Little Changed in April Census Bureau readings for April showed a minor dip in construction spending as compared to revised figures for March. $1,295.5 billion was spent on a seasonally-adjusted annual basis and missed the expected reading of $1,314.7 billion. March construction spending was revised to $1,299.2 billion. Falling mortgage rates were good … [Read More...]
Those who want to renovate a home usually do this to make it more spacious, improve its condition, and to add amenities. However, it is also important to consider if the renovation has the potential to add value to a home. Unless the plan is to live in the same place for life, there is a strong likelihood that, at some point, the home will go on the market for sale. It is nice if it sells for a high price and there is some profit for the seller in the transaction. It is not the amount spent on renovations that is the key consideration. In fact, spending a lot of money making certain … [Read More...]
Having a "smart home" is a trend that is popular. What does it actually mean? Smart home technology improves energy-efficiency, increases security, and creates more convenience for the home's occupants. Innovative smart home technology improves with the deployment of the Internet of Things (IoT), 5G wireless broadband, and the use of artificial intelligence (AI) programming. Many things that an owner and/or occupant of a home needs or wants may be done for them by smart home technology. Energy-Efficiency Green energy systems include installing energy-efficient windows and perhaps solar panels … [Read More...]
One renovation that may add value to a home is an in-law apartment. Even if a homeowner does not have any relatives, an in-law apartment makes wonderful guest accommodations. It is possible to rent it when unoccupied to earn some money. Homeowners who rent out part of a home need to check with their insurance agent to upgrade insurance to accommodate commercial use of a part of the home. Additionally, a person staying in an in-law apartment, who is not a member of the owner's household, may need to get renter's insurance to cover any personal property kept in the in-law apartment. Renovation … [Read More...]
It's more common these days to have non-traditional income that doesn't fall into the W-2 category. Many people work in what is referred to as the "gig economy," where income might come from a variety of freelance sources. Other times, people don't have W-2 income because they are retired or have an independent source of wealth that generates interest income. Still other times, an individual may own their own business and take draws instead of a paycheck. In all these cases, it might seem impossible to qualify for a mortgage, since there's no W-2 income. Lenders Are Understanding … [Read More...]
