RenoIsHome.com News

Protect Your Home Against Weather Disasters

2007-11-05T12:05:00.000-08:00

The recent destruction caused by Hurricane Katrina and the Southern California wildfires serve as a reminder of the type of havoc Mother Nature can cause. Water, wind, fire and earth movement can be hazardous to your home, perhaps your most cherished and largest investment. But, there are actions you can take now to protect your property and prevent major damage should one of these elements strike.

Water
Apart from major flooding, most damage occurs when water seeps in through cracks and leaks. Make sure that windows and doors are well sealed. Seal any cracks and holes in the foundation and exterior walls. Repair or replace roof shingles around any area that allows water to penetrate the roof sheathing. Check for holes or air leaks in the attic and basement. Your basement windows and doors should have built-up barriers or flood shields. Inspect your sump pump regularly to make sure that it is working properly. Install or make sure that the flashing, a thin metal strip, around the doors, windows, thresholds, chimney and roof are intact.

Wind
Minimize damage by keeping wind from getting inside your home. Windows and glass doors should be fitted with impact-resistant laminated glass or covered with impact-resistant shutters. Consider solid wood or hollow metal doors, which are more likely to resist wind pressure and flying debris. There are also roofing products with high-wind resistance available.

Fire
Inexpensive home improvements that you can make include installing a spark arrestor on your chimney, eliminating brush and debris from around your property, and modifying your attic, sub-floor and basement vents. More expensive improvements include replacing single-pane glass windows, doors or skylights with tempered glass, recovering your exterior walls with a more fire-resistant material, and re-roofing your home with a Class A roof covering.

Earthquake
Steps you can take to protect your property and possessions include anchoring appliances, water heater, dressers and other heavy items to the wall. Attach your TV, computer and other small appliances to desks, tables or countertops. Apply safety film to windows and glass doors. It is also a good idea to install a main gas shut-off device.

Homeowners insurance can help protect you financially in case something happens to your property or its contents. Most standard homeowners insurance policies include structural coverage and personal property coverage. Depending on your location, you may also need additional coverage against earthquake, hurricane, flood and fire.

Periodically review your homeowner's insurance policy to make sure that you are adequately covered to rebuild your home and replace your contents. If there is ever damage to your personal property, having a home inventory can make it easier when filing an insurance claim. List every item in your home on a separate sheet labeled by room, including the attic, basement or other storage places. For each item, write the original cost, purchase date, replacement cost, model number, brand name, where purchased and a general description. In addition, take photos or video of each room for visual documentation and include close-up photos of valuable collections. Make sure you update your home inventory photos and list at least once a year.

Common Home Repairs

2007-10-22T11:53:00.000-07:00

Homeownership isn’t always barbecues and block parties. Eventually something goes wrong and it’s up to you to decide whether to make repairs yourself or call for professional help. Fortunately, many of the most common home repair jobs are manageable for the do-it-yourselfer. Here are some quick home repair tips:

Leaking faucet

Faucets usually leak because of old gaskets or O-rings and corroded valve seats. This assembly must be replaced. Begin by turning off the sink’s water supply. Wrap the jaws of your wrench with tape to protect the sink nozzle’s finish. Once you’ve unscrewed the nozzle tip, remove the aforementioned parts and take the pieces to your hardware store to ensure that you purchase the proper replacement parts.

Peeling or cracking caulk

Caulk is used throughout your home, typically to seal gaps between the bathtub, toilet and floor, around sinks, between sinks and backsplashes, and gaps around windows. Once the caulk begins to crack and peel, it must be replaced. Regardless of where the caulk is used, the old caulk must be removed before a new layer can be set. There are special tools and chemicals that can help you remove the old caulk. The type of caulk you use will depend on the type of job you’re doing.

Running toilet

You flush the toilet and the tank begins to fill, but it doesn’t stop –- ever. There are two ways to approach this problem. In either case, shut off the toilet’s water supply and flush so that the tank empties. You can try to identify the problem by methodically checking all the tank’s parts: reseating/repositioning the tank stopper in the flush valve; bending the float arm down a little; replacing a bad float ball; replacing the flush valve seat; or replacing the fill tube. The other option is to simply replace the entire assembly.

Electrical failure

If you suddenly lose power, most likely you’ve blown a fuse or tripped a circuit breaker. Simply replace the blown fuse or reset the breaker by switching it back into the “on” position. If this fails to work, or if it the problem persists, you may be demanding too much juice from your electrical system and this could be a dangerous situation. As we become more reliant on technology, we draw more electrical current. Rolling blackouts specific to your home, or a section of your home, may indicate that your power needs exceed what your electrical system can safely supply. In this case, it’s time to call a licensed electrician.

One of the trickiest home repair tasks is knowing your limits and when to call for professional help. If you suspect a job is too big to handle, you’re probably right. Hiring a licensed professional to diagnose and repair the problem is probably cheaper than hiring that same professional to pick through the remains of an unfinished job in order to figure out and repair the problem.

Keeping Your Curb Appeal Fresh

2007-09-06T11:17:00.000-07:00

Your home’s curb appeal says a lot about you and your pride of home ownership. Maintaining a favorable first impression and keeping it current isn’t solely for home sellers. However you decide to update or freshen your home’s curb appeal, know that you can’t go wrong because maintaining this appeal will also keep you up-to-date on many regular home maintenance tasks.

“Hardscaping” is all the rage right now; you can see it cropping up all over as homeowners replace plain concrete driveways and walkways with pavers, bricks or stone, or stamp or score designs into a freshly poured driveway. Another, more affordable trend, is to dress up an existing concrete driveway using texture or multi-color design techniques.

If you plan to pour a new concrete driveway this year, consider imitating the look of upscale stone or brick pavers by stamping or scoring a pattern into the freshly poured concrete. Adding color to your driveway is another way to brighten your curb appeal. Homeowners can select from a wide range of hues, from subtle earth tones to bright blues and reds.

Updating your home’s siding or applying fresh paint gives your home an instant boost. If you’re replacing siding, consider installing an upscale material. Western Red Cedar siding is a popular choice. The siding is available in a number of warm shades and can be purchased pre-finished so that you won’t have to deal with staining and possibly ending up with a shade that’s too dark or light.

Replacing tired old windows with the energy-efficient double-pane variety is another home value booster that perks up curb appeal. Homeowners continue to look for environmentally friendly solutions and improving your home’s insulation with these attractive windows increases your home’s value and its green rating.

Some curb appeal “trends” are timeless, for example the front door. Dress up any front door by installing a brass kick plate and matching accessories including door handle, door knocker, new locks, mail slot and exterior light fixture. The front door also is a place where you can add a little character and pop to your curb appeal by deviating from the home’s exterior color theme.

Landscaping is another area that significantly impacts curb appeal. At the very least, keep your yard well manicured, keep your plants healthy and remove any dead foliage. If you plan to change the landscaping this year, visit your local nursery to find out which shrubs, trees and other plants are native to your area. The trend here is beautiful but low maintenance and environmentally friendly. Xeriscaping, or drought-tolerant landscaping, is growing in popularity as homeowners strive for water-wise gardening solutions.

However you decide to increase your home’s curb appeal, your home will get a value booster and you will enjoy more living in it. Surprisingly, even small enhancements can make a big difference.

For all your real estate needs go to www.RenoIsHome.com.

Trading Up or Downsizing

2007-08-23T13:08:00.000-07:00

Whether you’re selling your current home so that you can move into a larger property or downsizing into a smaller one, there are some things you should keep in mind to be well prepared for moving day:

Trading Up
Most of the challenges come with trade-ups. In this case, you’ll likely have a larger mortgage payment, higher utility bills, higher annual maintenance costs, larger tax payments, and higher homeowner’s insurance costs.

Determine how much more home you can afford by scrutinizing your expenses as closely as you did when you were a first-time homebuyer. If affordability hinges on the amount of equity you pull from the sale of your current home, keep in mind that you probably won’t know the total amount until after you’ve completed settlement.

Check with your homeowner’s insurance agent to learn about how much more it may cost to insure your larger home.

Calculating an increase in utility expenses isn’t cut-and-dried. If your new home is 40 percent larger than your current home, you can estimate that your new utility bills will be commensurate with the increase in square footage. However, if your new home is substantially more energy efficient, there may be little or no increase in the utility bills.

Property taxes are assessed based on the property’s value and after you purchase your trade-up abode. The tax assessor likely will re-evaluate taxes upward based on updated property value data. Check with your county tax assessor’s office before you close to learn more about your potential tax expenses.

Maintenance costs will likely increase. Here you can apply a standard rule of thumb to budget your annual maintenance costs: multiply the purchase price of the home by 1 percent, if the home is newer or in excellent condition, and by 1.25 percent if the home is older. The result is the annual cost you can expect to pay for maintenance.

Downsizing
Dealing with years of accumulated belongings and figuring out whether you should rent or buy are the biggest issues associated with downsizing. If you’re going into retirement and plan on traveling a lot or don’t want to be rooted to a particular place, renting is obviously your best choice. However, if you’ve decided to buy, you’ll have to carefully evaluate which type of property best suits your needs. Are you looking for another but smaller single-family home? Or is a residential community best for you?

Downsizers looking to minimize home maintenance chores and costs may fare well in some sort of residential community living where association fees cover the bulk of the property’s exterior maintenance. In this case, you’ll have to decide whether you’re looking for a town home, condominium, loft, or some other type of community dwelling. It may be helpful to make a list of your most important features. Are you looking for a city residence that is close to shopping and transportation? Or are you more interested in the amenities – like pools and tennis courts – offered by the residential communities?

Pets are another consideration. Some residential community living arrangements place strict limits on the number of pets you may keep and or the pet’s size or type. For example, in some communities tenants may own no more than two dogs, each weighing no more than 15 pounds.

If you’re looking for another single-family home, it would be helpful to create an itemized a list of what you consider to be the most important features. Will you need space for guests or are you looking for a cozy cottage? Consider taking a detailed inventory of your current living space and how frequently you use certain rooms and other amenities. Do you really need that third bedroom or formal dining room?

Whether you’re moving into a smaller single-family home or some type of residential community, figuring out which belongings and furnishings to keep can be a difficult and emotional task. If the job appears insurmountable, consider hiring an expert who can help you get organized and make the best use of your new space.

For all your real estate needs go to www.RenoIsHome.com.

Home Equity: Using Your Home’s Riches Can Be a Sensible Move

2007-08-15T12:45:00.000-07:00

Many homeowners have accumulated a wealth of equity in their home. Record year-over-year-over-year home price increases have dramatically increased the value of our homes, some by double, quadruple or more. To figure out how much equity you have, subtract your mortgage balance from the home’s current market value. The difference is the amount of your home equity.

If you don’t know the current market value of your home, give your real estate agent a call and he or she will be able to provide this information. And don’t forget that your real estate agent also is a good source for information about local home equity loan specialists.

There are two ways to tap into your home equity, through a home equity loan or a home equity line of credit. Homeowners are attracted to these types of loans because they offer lower, sometimes significantly lower, interest rates, and in most cases, the interest is tax deductible up to $100,000.

The Home Equity Loan is a lot like your first mortgage. It allows you to borrow a sum of money under terms and conditions similar to those outlined in a typical fixed-rate 30-year mortgage. The interest rate is fixed and so is your monthly payment, which pays down both the interest and principal. The cash you receive is in one lump sum and the average loan term is 15 years.

This type of loan is best for large, one-time purchase. For example, to pay for an expensive home repair or upgrade, to buy a car or to consolidate a large amount of high-interest credit card debt.

Using a home equity loan to pay off credit car debt can be a sensible move, but it also can be risky. If you decide to take a home equity loan to consolidate high interest credit card debt, it may be a good idea to also attend a money management seminar that focuses on resisting maxing out those cards again.

The Home Equity Line Of Credit, also known as a HELOC, is a flexible program that borrowers use much like a pre-paid credit card account. A HELOC includes a draw and a repayment period, each set when the loan closes; a typical schedule could be a five-year draw period and a 10-year repay period.

Draw periods allow the borrower to withdrawal money as needed. These borrowers must make a minimum monthly payment that covers the variable interest rate. The borrower controls the rate at which the principal is paid. If the borrower chooses to make a payment on the principal balance, the revolving credit account increases the borrower’s limit by the amount of the principal paid down. During the repay period, the borrower’s spree is up and he now must replay the balance of the loan over the loan’s remaining term.

This type of loan is best for a homeowner who will intermittently need relatively large sums of cash, for example to cover quarterly college tuition bills or some other expenditure that requires large but infrequent payment installments. While your access to the money works much like using a credit card or savings account, take care to avoid depleting your credit line for impulsive purchases and be cautious when spending home equity funds.

For all your real estate needs go to www.RenoIsHome.com.