Soul-lifting home improvements that are good for your wallet, too.

No matter how value conscious a homeowner may be, few people ever make a home improvement simply to increase their house's resale value. People also undertake home improvements to enhance their enjoyment of their home - or to fix a problem, which, in its own way, is good for the soul, too.



When it comes to deciding how to spend your renovation dollars, some home improvements can boost both your spirits and your home value. Here are some soul-lifting home improvements that also add value to your home:



Install a skylight



The health benefits of natural light are well known. Not only does sunlight stimulate the body's production of Vitamin D, it also boosts brain levels of serotonin. Lower serotonin levels have been associated with depression, decreased physical energy, increased appetite and elevated desire for sleep. A lack of sunlight has long been associated with Seasonal Affective Disorder - something your dear old grandmother might have simply called "the winter blues."



And there's another consideration with today's tightly built and heavily insulated homes - indoor air quality. According to the GREENGUARD Environmental Institute (www.greenguard.org), most of our exposure to environmental pollution occurs by breathing the air indoors.



Adding a traditional or tubular skylight - to virtually any room in the house - brings more mood-boosting natural light into your home. It's also a smart money decision. Energy-saving, solar-powered fresh-air skylights, like those made by Velux America,-can be opened-to bring much-needed outside air into your home, providing passive ventilation to reduce humidity and stale air, and reduce heating, cooling and lighting costs. Energy Star-qualified solar powered fresh-air skylights and accessories like solar-powered blinds, plus the installation, are eligible for a 30 percent federal tax credit - now that's good for the soul.



You can learn more about energy-efficient skylights and calculate your tax credit for a new or replacement model at www.veluxusa.com. For more on skylights and other home energy saving tips visit energystar.gov.



Add a sunroom



While you're thinking about the benefits of more natural light in your home, consider adding a sunroom. One of these light-filled retreats returns more than 46 percent of the initial cost when it's time to sell your home, according to Remodeling Magazine's Cost vs. Value Report. In a survey by the National Association of Home Builders, 52 percent of builders rated sunrooms as "desirable" or "essential" - ranking them higher than other specialty rooms like workout rooms, dens or even media rooms.



Sunrooms can be a great way to make your small home feel much larger, without the expense of a bigger, costlier addition. They also speak to our natural affinity for the outdoors, allowing you to enjoy nature year-round, even when it's too cold to be outside.



Upgrade your bathroom



The trend of bathrooms as a restive oasis doesn't show any signs of disappearing. If you doubt the popularity of luxury bathroom fittings, just visit the showerhead aisle in any home improvement store. Options include everything from rainfall shower heads to multi-jet contraptions that promise a spa-like experience in your own shower stall. Add in jetted tubs, towel warmers and amenities like under-floor heating, and it's easy to understand why real estate pros continue to cite a great bathroom as a must-have for many buyers.



Even if you don't have the space or budget for a major bathroom renovation - which Remodeling Magazine says returns more than 65 percent of its value on resale - even making modest improvements can boost your mood. Replacing old fixtures with newer more luxurious models, such as a touch-free faucet or multiple shower heads, can be an easy, cost-effective way to enhance your enjoyment of your bathroom.



The National Association of Realtors predicts the housing market will continue to improve this year. Yet even those who are not thinking of selling any time soon are aware of the value of certain types of improvements. A survey by real estate professionals indicates that people are becoming more attuned to the emotional component of home ownership, rather than just viewing their houses as investments.



" ... We're seeing a psychological shift," Dr. Robi Ludwig, a psychotherapist who partnered with the surveyors, said in an announcement of the survey findings. "Instead of looking at homes through the eyes of an economist, we're realizing that a home doesn't solely equate to financial return or measure only to a mortgage amount. Instead the home is the emotional center of our lives, and it remains a critical component of who we are."

Elegant outdoor entertaining on a dime

(BPT) - Wish your soiree could have a bit more swagger? You don't need a celebrity budget and abode to throw a stunning celebration. With just a bit of creative vision and DIY savvy, you'll have an affair to remember in no time at all.



Sensational seating

• The first step to ensure an enjoyable event is to provide enough seating for your guests to relax. Enhance the look of your current table and chairs with a quick finish update with Rust Protector.This spray paint works wonders on weathered metal tables and chairs, providing coverage, durability and corrosion protection. Available in several new multi-color, textured finishes it dries in as little as eight minutes so that you can quickly move on to other aspects of your party planning.

Elegant ambiance

• Once your seating area is set, create an eye-catching centerpiece to set the mood. Turn forgotten pedestal candle holders into chic showpieces that will impress guests and inspire dinner table dialog. Simply spray paint each with a coordinating color of textured finish for an updated and elegant look. Once dry, add candles of various heights and decorate the bases with pebbles or decorative beads for subtle and sophisticated ambiance.

Let there be light

• While your new centerpiece will illuminate the table area in the evening, be sure to light up the night with additional accent lighting. Tiki torches are an easy and inexpensive solution that provide excellent perimeter lighting and can even work double duty to keep pesky mosquitos at bay, ensuring your invited guests don't bolt because of uninvited ones.

Luscious libations

• A signature drink can be a fun treat for your guests - but be sure the vessel is just as festive. An inexpensive and trendy way to keep guests refreshed and delighted is to serve your libations in the classic mason jar. Jazz up the jars by placing peel-and-stick chalkboard labels on the jars and provide chalk for guests to write their names. And as the final touch, offer mini umbrellas or nostalgic striped paper straws to allow guests to sip in style.

Heat it up

• Why not enjoy your tasty refreshments around a fire pit when the sun has finally set? It's the perfect ambiance to relax and enjoy company. Restore your rusty fire pit from last season withhigh heat spray paint, a durable and stylish option for DIYers who want to touch-up surfaces that need to withstand extreme temperature swings. It delivers maximum color and rust resistance for a designer look all year long.

You don't have to spend a ton of money to create an elegant gathering that will impress guests. By paying attention to small, inexpensive details, you can turn a bland backyard, patio or deck into a stylish spot for entertaining that won't leave you penniless at the end of the night.

Termites 101: What every homebuyer should know this spring

(BPT) - It's a cruel coincidence that the spring's real-estate buying season corresponds with another far less pleasant one - termite swarming season. When eager homebuyers emerge from winter hibernation to look for their dream homes, winged termites emerge, too, and swarms of them go in search of new places to establish their colonies.



"Termites cause about $5 billion in property damage every year - damage that typically isn't covered by homeowners' insurance policies," says Missy Henriksen, vice president of public affairs for the National Pest Management Association (NPMA). "In spring, swarms emerge in every state except Alaska. Potential homebuyers need to be aware of the risks associated with termite damage, and of the importance of having any home they're considering inspected for termites and other wood-destroying organisms."



More than half of Americans (52 percent) have never had their homes inspected for termites, according to an NPMA survey. Yet 38 percent worry about discovering termites in their homes and 33 percent have had termite damage or know someone who has, the survey found.



If you'll be buying (or selling) a home this spring, the NPMA offers some valuable termite information:



* The average homebuyer and homeowner might have difficulty spotting the evidence of a termite infestation. Termites chew through wood, flooring and other materials behind-the-scenes, so it can take years before the signs of an infestation are visible to the untrained eye. An inspection by a licensed pest professional is the best way to detect an infestation of wood-destroying organisms (WDOs) - especially if you live in a termite-prone area of the country.



* A WDO inspection is different from a simple structural inspection. Buyers may assume that the person who does the pre-purchase home inspection will look for termites while assessing the condition of the home's physical structure and systems. While some inspectors might spot signs of termite damage, others will not. Buyers should be sure to have their prospective home inspected by a licensed pest professional. The inspection will last about an hour, and the specialist will probe the home from top to bottom to look for telltale signs of termite damage. After the inspection is over, the specialist will report to the buyers what he or she has found, and an estimate of how much it might cost to remediate any termite damage he or she has discovered.



* Different states have varying laws about termite inspections. Some may require one before a home can be sold, while others do not. Check with your realtor about the laws in your state, and keep in mind that many lenders will require a pest inspection be done in addition to a structural inspection - especially if the home you are buying is in a termite-prone area.



* Termite detection, remediation and control are not do-it-yourself tasks. If an inspector finds signs of a termite infestation and damage, you'll need professionals to remedy the problem. Buyers who discover problems before the sale is final will be better able to negotiate with the seller to take care of the problem. In some states, the law may not allow the sale to be finalized until the damage is addressed, and lenders may refuse to finalize a mortgage for a home with unresolved termite issues.



If the termite inspection shows your new home is pest-free, congratulations! After the sale is finalized, be sure to take steps to protect your home from termites going forward, including having the home inspected for termites at least once every three years, and every year if you live in an area prone to termite infestations.

Three questions to answer before you buy a home

Preparing to buy a home requires more than just a down payment. Before you purchase property, take time to understand your available mortgage options and balance your debt load. Thorough planning and smart budgeting now can help you avoid running into high debt or repayment problems down the road.

Farhaneh Haque, director of mortgage advice at TD Canada Trust, says that first time home buyers should answer three important questions before they start hitting any open houses this season.

• Do I understand the process? It never hurts to meet with a mortgage specialist to learn more about the home buying process and the different mortgage options available, such as fixed versus variable rate mortgages, flexible repayment schedules, and even mortgages that offer cash back. Before falling in love with a home, consider getting pre-approved so you know what you may be able to afford and avoid getting disappointed by falling in love with a home that is outside your price range.

• What is my personal debt load? If you have other obligations like a car payment or student loan, ensure you are taking on a mortgage that you can manage within your total budget. Try using an online debt management calculator to help determine how much debt you can reasonably take on based on your income, current debt payments and expenses.

• Can I afford my mortgage and save for the future? Sometimes home buyers take on more debt than they can manage and quickly find themselves "house poor" - with no money left for future savings or a rainy day. Before you take the leap into homeownership, crunch the numbers to ensure your budget reflects the lifestyle you want after you move into your new home, and you are clear on what sacrifices you may need to make to continue to live comfortably and save for your future.

8 ways first-time homebuyers can make themselves mortgage-ready

(BPT) - It's rare to get something right the very first time you try it, but when it comes to buying your first home, a lack of knowledge and experience can lead to costly mistakes. One in four first time homebuyers say they are completely unfamiliar with the mortgage financing process, according to a report by the Consumer Financial Protection Bureau. Even among those with an understanding of the overall process, the report found that many first time homebuyers still had significant knowledge gaps in important areas such as available mortgage rates, closing costs, down-payment requirements and income required to qualify for a loan.



"Not having all the information available could lead to consumers paying a higher interest rate or failing to secure an affordable mortgage for the home they want," says Eric Hamilton, President of Vanderbilt Mortgage and Finance. "While most first-time homebuyers understand the importance of their credit report score in securing a mortgage, it's important they arm themselves with comprehensive knowledge. Fortunately, there's plenty of useful information out there for borrowers who want to do their homework before diving into the loan process."



Here are eight tips for first-time homebuyers:



1. Adjust your budget. A mortgage payment can increase your monthly housing expenses, so prepare by calculating what that amount will be and begin saving that same amount every month so you can get used to the budget change in advance. Use a free online payment calculator to help you predict your payment and understand your current debt-to-income ratio.



2. Plan for a down payment. Nearly all home loans will require you to put some money down as a down payment. Some home loans may require as much as 20 percent of the purchase cost as a down payment, although some Federal Housing Administration loans may require less. Decide on the amount you think you'll need and create a savings plan to help you reach that goal.



3. Consider the location and type of home you want to buy. Many factors influence the cost of a home, including its location, size, style and more. A larger home in a high-income area will generally cost more, and property taxes will be higher on a bigger, newer, well-located home. Many first-time homebuyers find manufactured or mobile homes are a good option. Knowing the estimated cost of the type of home you want to purchase can help you better manage your budget.



4. Stay on top of your credit. Lenders will consider your credit score and report history when determining your mortgage eligibility and the interest rate they may offer you. Make sure to review your credit report in advance. If you're planning to apply for a mortgage, it's a good idea to review your report more frequently and to consider paying to obtain your credit score from at least one major bureau. If your report contains errors, work with the credit bureaus to have them corrected before you apply for a mortgage.



5. Keep current on monthly bills. While it's important to save toward a down payment, don't let monthly bills slide. Paying your bills on time every month can help increase your credit score, and a good payment history is something lenders look for when reviewing your credit report. Use online tools like email reminders and automatic payment options to help ensure you never miss or make a late payment.



6. Work on your debt. If you have delinquent balances, bring them up to date as quickly as possible. If you carry a lot of revolving credit card debt, you may want to work to reduce it by paying more than the monthly minimum payment. While it helps to have a report that shows no late payments, the most important thing is to not have any delinquent balances before you apply for a mortgage.



7. Plan for escrow. In addition to the amount you will need each month toward repaying your mortgage, you'll need escrow - an amount added to and collected with each monthly mortgage payment that is applied toward annual homeowners' insurance premiums and/or taxes. Estimating taxes and total insurance costs can help you better understand how much your escrow will be each month, and you'll be able to budget more accurately as you prepare for home ownership. Don't forget that this amount may adjust every twelve months if your insurance premium or taxes change for the next year.



8. Take advantage of educational resources. From lenders' websites to government agencies, it's easy to find plenty of information online. Check out resources like the Consumer Financial Protection Bureau, the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration.

Add economical living space with an outdoor room

(BPT) - Adding living space to your home can be an expensive prospect. However, creating an outdoor room is a budget-friendly option that gives you more square footage, as well as additional opportunities to enjoy the season. As an extension of the home, outdoor rooms with decks or pergolas can be personalized to truly bring indoor comforts outside for relaxation and entertaining.



Prepare your outdoor space



Before embarking on designing an outdoor room, start with a clean slate by making necessary repairs. Jason Ringling, director of marketing for Red Devil, says outdoor fix-ups are on the agenda because of the unusual weather the country has experienced, including wind and flood damage. Outdoor structures have particularly taken a beating, with damage to wood structures and cracked concrete.



"Homeowners can tackle these jobs with long-lasting quality adhesives and sealants," says Ringling. "There are new, environmentally friendly construction adhesives on the market, which can help repair damaged decks, concrete, outdoor furniture, play sets and more."



Stand up to Mother Nature



If you start with cellular PVC as a wood replacement, you can add longevity and low-maintenance to pergolas and other outdoor structures. Those that come in easy-to-assemble kits make it even easier to have a stylish extension to your home. According to the experts at Walpole Outdoors, to match your home's style, look for variations in pergola design such as straight or arched tops, and round or square columns in many sizes.



"For a true 'outdoor room' feeling, a retractable, weather-resistant fabric canopy can provide shade and shelter whenever the weather changes, so homeowners can always plan outdoor occasions with confidence," says Walpole president Lou Maglio.



Affordable, natural looks that endure



Decks are another easy way to extend living space and with new alternative materials, it's easy to save on maintenance without sacrificing style. One advancement in composite decking technology features a "cap" or protective outer layer that looks like real hardwood.



"Today's deck trends show that homeowners are looking for deck styles and colors that strongly resemble the earthy tones found in nature," says Carey Walley, vice president of marketing for TimberTech, a leading composite decking manufacturer. As an example, the company's new Earthwood Evolutions Terrain is an affordable hardwood-look composite that is durable, moisture-resistant and accepts concealed fasteners. Walley also notes that a new interactive Q&A forum called Straight Talk is a great place to investigate common deck topics and to ask any deck question that will be answered by experts.



De-clutter your deck space



When designing that special outdoor space, start by de-cluttering the deck. Look for the latest clever, space-saving solutions that help make the most of your deck space. One way to cut costs and improve the view is to use fewer posts, according to Mike Gori, director of product management, AZEK Building Products.



"We've engineered a durable railing system that spans 10 feet between posts, which requires fewer posts. This creates a less cluttered look, clearer views and substantial cost savings," he says. In addition, he suggests hide-away storage bins that make use of the space under the deck to store items like umbrellas and pool toys. "The lid is discreetly flush with the deck surface, eliminating those large plastic bins that obscure the view and take up valuable deck space."



With these tips, it's easy to find functional, beautiful and affordable options for making your outdoor space your very own.

MARCH 2017 MARKET UPDATE

March 2017

Included in this blog post is a link to my Real Estate Update Newsletter. Please click on the link below to get the latest Real Estate Update for March! If you have any questions, please don’t hesitate to call or email my office. 

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