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11 Oct, 2021
If your rental property is ready for a paint refresh, adorning your room with fall hues will create a luxe, seasonal space without committing to a complete design overhaul. Whether you want a deep pecan hue, a rich, burgundy color, or the gleaming color of golden hour, a fresh application of paint can bring these hues into your rental property. The below paint colors are a curated selection of cozy fall tones that also make a statement all year round. Benjamin Moore – Bear Creek 1470 A deep, gray-brown color, Bear Creek is a rich tone that is a beautiful contrast to creams and creamy whites. In addition, Bear Creek brings in tones of winter woods and adds a layer of coziness to living areas. This deep tone pairs well with a warm white or cream color for the trim and ceiling or can be continued on the trim, but a different sheen, like semi-gloss, is recommended for trim. Where to Use It: A living room or great room Benjamin Moore – Sequoia 1245 This reddish-brown color is both a neutral tone and also brings drama. Sequoia is softer than a burgundy but is deep enough to create a moody space. In addition, Sequoia’s dustiness is neutral enough to pair well with many complementary colors. For a trim pairing, Sequoia looks stunning with an off-white or warm white paint selection. Where to Use It: A library or study Benjamin Moore – Metallic Gold 2163-40 This shimmery, soft brown has pink undertones, which brings a glowing ambiance to any space. Earthy yet elegant, Metallic Gold makes a room look effortless and inviting. Where to Use It: A dining room Farrow & Ball – Hague Blue This dramatic, intense blue is a timeless color with green undertones. In addition, Hague Blue’s deep, pigmented hue makes a dark room feel intentionally cozy and moody. Where to Use It: A powder bathroom Farrow & Ball – Deep Reddish Brown Both luxurious and soothing, Deep Reddish Brown, is a warm tone with chocolatey undertones. Deep, warm and welcoming, Deep Reddish Brown will add richness and drama to walls, doors and trim. Where to Use It: A stairway Farrow & Ball – Tanner’s Brown This dramatic hue is a strong dark brown that is almost black in low lighting. However, in a well-lit space, it reads as brown. A rich, warm hue, Tanner’s Brown brings drama and warmth to a room. Where to Use It: Interior of a fireplace Sherwin Williams – Cotton This warm white will make your space feel effortlessly layered and cozy. Its soothing neutral hue makes any room feel relaxed and inviting. It’s the perfect backdrop to layer in neutral or colorful furniture and accessories and to begin the day on a crisp, calm note. Where to Use It: A bedroom or great room Source: RIS Media
11 Oct, 2021
Owning a luxury investment property is an excellent way to add an additional income stream, as well as a destination to make family memories. To make your property stand out to potential renters, it’s all about creating an experience. Whether your property is a lakeside escape or a mountain hideaway, the details do matter. Read on to find out how to enhance your luxury investment property to keep your income stream flowing. Create a Theme, But Skip the Kitsch A subtly integrated theme will make your property memorable to those who are looking to book a rental property, as well as for repeat renters. So, whether you are renting your Nantucket home with ocean views, an Aspen ski retreat or a Palm Springs escape, make sure the decor fits the area’s landscape. Remember, there is a fine line between staying with a theme and crossing the line into kitschy. This means avoiding any overtly nautical touches, such as anchors and ropes, or overdoing the taxidermy and animal prints. Have a Unique Touch Give your guests a reason to return by incorporating subtle, luxurious touches they may not have at home. Whether you are catering to gourmet cooks with an assortment of epicurean oils and spices, spa aficionados with lavish bath products or literary zealots with a rich variety of coffee table books, create memorable moments for your guests. Create an Aspirational Lifestyle Give your property its own persona by treating it as a lifestyle brand. Create a social media presence, highlighting content that reflects the lifestyle of the home and the surrounding area. Feature the property’s unique features, local destinations, activities and aspirational imagery. Take a “Less is More” Approach Being able to take a deep breath and relax is usually at the top of many people’s vacation to-do lists. Help facilitate this state of mind by embracing simplicity in the design. Creating one focal point in each room is a good rule-of-thumb to help the room feel intentional and not over designed. This simple, clean approach will provide guests with mental clarity and space for their belongings. Invest in Smart Technology Incorporating smart home technology is an asset for both you and your guests. For example, installing a keyless entry lock and deadbolt will easily allow your guests, cleaning staff and handyman to access the property without exchanging keys. Home automation, such as automated lights and window shades, will allow your guests to easily adjust the home’s settings to their comfort levels without searching for light switches. Voice activation, such as using Amazon Echo or Google Home systems, will provide your guests with additional vacation ease. Invest in the Correct Areas Since a rental home is a high-traffic property, durability is vital to keep the home and decor in good condition. The upholstery, especially in high traffic areas like the living areas and kitchen, should be performance fabric to help lessen the impact of spills and wear and tear. Additionally, the pieces that get the highest usage, such as the sofa and ottoman, should be considered investment pieces. Accessories, such as rugs, artwork or lamps, can be at a lower price point in the event of often inevitable damage. Taking the time to invest in the personal touches will make your luxury property feel unique and unforgettable to all who visit. Source: RIS Media
11 Oct, 2021
Roofing problems are sometimes obvious, but they often go unnoticed for years. Then, when you realize there’s an issue with your rental property, the situation is so serious that the roof requires significant repairs or replacement. Routine roof inspections can prevent this type of scenario. You should have your roof inspected once a year, plus after a major storm or any time you suspect there may be a problem. Regular Inspections Can Detect Problems Before They Get Worse Often, a roof leak occurs because a minor problem wasn’t found and addressed. Roof issues can be hard to spot from the ground. Even if you climb on the roof and take a look around, you may miss signs of a problem if you’re not familiar with roofing systems and don’t know what to look for. A roofing professional can quickly spot issues and recommend repairs so the damage doesn’t get worse. An Inspector Can Find Storm-Related Damage Sometimes storm damage is obvious. For example, strong winds may blow a large tree branch onto the roof or tear off shingles. In many cases, though, issues aren’t clearly visible, at least not right away. A roofing contractor can detect a minor problem before water damages roofing components, beams in the attic and insulation. Routine Inspections Can Help If You Need to File an Insurance Claim Homeowners insurance covers roof repairs and replacement if damage is caused by a covered peril. Insurance won’t cover roof damage if the issue is due, at least in part, to lack of maintenance. If you file a claim for roof repair or replacement after a storm and you can produce documents showing that you had the roof inspected and maintained regularly, your claim will likely get approved. On the other hand, if you neglect maintenance, your roof gets damaged in a storm and then you file a homeowners insurance claim, the company may refuse to pay for repairs or replacement. You Can Prepare for Significant Costs A large bill for roof repair or replacement can be tough to deal with, but it can be even more unpleasant if you don’t see it coming. Knowing that the roof will need to be replaced in the next few years can give you an opportunity to save money or look into financing, as well as time to compare quotes from several contractors. That’s much better than experiencing a major roof leak, rushing to find the first available contractor and paying a large bill you weren’t expecting. Inspections are Important for New Roofs Even if the roof is only a few years old, it can still become damaged. A roofing contractor may catch an issue while it’s still covered by warranty. That can give you an opportunity to get the problem fixed and prevent a more serious issue down the road. Source: RIS Media
model home
04 Jun, 2021
When you receive a property tax bill and see your investment property's assessed value, you may disagree with the figure. If your property’s value is assessed higher than it should be, you may be charged more for taxes. You can request a review and may be able to have your home’s assessed value and your property tax bill reduced. How Property Taxes Are Calculated Your property tax bill is based on your home’s assessed value. An assessor considers factors such as the size of your house and lot, your home’s location and condition, the values of other properties in the same neighborhood and the recent sale prices of comparable homes. Why a Property’s Assessed Value May be Inaccurate A significant percentage of homes across the United States are assessed above their current market value, but only a small percentage of homeowners dispute their assessments. An assessment may be based on inaccurate information related to a home’s square footage, number of bedrooms and bathrooms, and other features such as a garage or pool. If the assessor was working off inaccurate or outdated information, a home may be valued too high. How to Dispute Your Assessment Look at the information that the assessor used. If you believe that your property’s value was assessed based on inaccurate information, or if you think you didn’t receive an exemption that you’re entitled to, you can appeal your assessment. Comparing your home’s assessed value to those of similar properties nearby can help you figure out if your house’s value is in line with others. Berkshire Hathaway HomeServices PenFed Realty can provide complementary information on recent sales of comparable homes in your area. Research the assessment appeal process in your city or town. Learn about the types of documentation that are required and whether you can file an appeal in writing or if you will be required to attend a hearing in person. Make sure that you meet all the deadlines. You may only have a limited window of opportunity to appeal your property’s assessed value. The time frame varies from one municipality to another. If you miss a deadline, your appeal may be automatically denied. You can dispute your assessment on your own, but you may want to seek professional assistance. If so, you can hire an attorney, a CPA or a company that specializes in property tax appeals. Source: RIS Media
model home
04 Jun, 2021
If you already own a home and you’re thinking about buying an investment property that you can rent out, you will have to clear higher hurdles than you did when you bought your first house. Here are some important things to know. Lenders Will be Stricter A second mortgage can make you riskier in a lender’s eyes. A lender will want to be confident that you can afford mortgage payments, taxes, maintenance, homeowners insurance and other costs for both properties. You may need a higher credit score to qualify for a second mortgage than you did for your first one. A lender may also be stricter when it comes to your debt-to-income ratio. If you still owe a large amount on your current mortgage or have other substantial debts, a second mortgage may put your debt-to-income ratio above the maximum the lender allows. You may be required to make a larger down payment for a second home, and a second mortgage will probably have a higher interest rate. Guidelines will vary from company to company. Buying a second home as an investment property to rent out can create its own set of risks. There is no guarantee that you will have a renter living there consistently or that the renter will pay regularly and on time. A renter may also cause damage to the house. Mortgage Options to Consider The type of mortgage you will qualify for may depend on how you plan to use the second property. Some types of loans, such as those issued by the Federal Housing Administration and the Veterans Affairs Administration, can only be used to purchase a primary residence. The mortgage term you choose will affect your interest rate and monthly payment amounts. Interest rates are generally lower and monthly payments are usually higher for 15-year mortgages than for 30-year loans. You may be able to pay off a 15-year mortgage faster and spend less in interest, but it may be challenging to cover high monthly payments if you already have a mortgage. How to Fund a Down Payment You may be able to use equity in your current home to help you finance the purchase of your second. With a cash-out refinance, you may be able to replace your existing mortgage with a larger loan and receive cash at closing that you can use to make a down payment on a second home. You may also be able to take out a home equity loan or home equity line of credit to access money that you can use to fund a new home purchase. Get Professional Advice Talk to your financial advisor about how a second mortgage could affect your other financial goals, such as saving for retirement and college. If you decide to buy another house, compare loan terms from multiple lenders. Source: RIS Media
interior of house
04 Jun, 2021
If you have a finished basement, a bathroom may or may not be necessary. How you use the downstairs space, the current layout of your house and the location of the sewer line are important considerations that can affect the scope and cost of a bathroom renovation project. Reasons to Install a Bathroom in the Basement A downstairs bathroom can be convenient, especially the lower level is used as a family room, office or bedroom. If the basement is used for work or gathering, a half bathroom may be a better choice. If there is a downstairs bedroom, a full bathroom makes more sense. The benefits that you derive from a basement bathroom can also make it appealing to potential renters or buyers. Adding a bathroom in the lower level may boost your home’s value and help it stand out among similar houses that don’t have an extra bathroom downstairs. Challenges Associated With a Basement Bathroom Adding a bathroom downstairs may be more complicated than installing one above ground. It may be easier and less expensive if you build a new bathroom directly below an existing one. That may or may not be possible, depending on your home’s design. If the sewer line is located above the basement level, water will have to be transported down to the basement and back up so it can exit the house. It may be necessary to tear up an existing floor to run plumbing. Basements can collect moisture, so the lower level will have to be well sealed before you can add a bathroom. You will also have to make sure there is an adequate irrigation system that can direct water away from the house so it won’t leak into the basement. The fixtures you choose for a basement bathroom will heavily influence the cost. Carefully consider your options when it comes to the toilet, sink, vanity, shower or tub, flooring, tile, and other components. Select fixtures that can resist mold and mildew. Also think about lighting. Since basements are below ground, having a window in your downstairs bathroom won’t be an option. Choose light fixtures that will provide plenty of illumination. How to Select a Contractor Creating a bathroom in a basement may be much more complex than building one above ground. Make sure that you hire a contractor who is up to the challenge. When you interview contractors, specifically ask about their experience installing bathrooms in basements. Contact references and make sure that the company you hire is licensed and insured. Source: RIS Media
ceiling fan
04 Jun, 2021
Some homeowners love ceiling fans since they can improve air circulation, make a house more comfortable and keep utility bills down. Others think fans can detract from a room’s appearance and make it feel smaller. Consider your home’s design when deciding if you should install ceiling fans. Air Circulation In the summer, a ceiling fan can distribute air that has been cooled by an air conditioner. The breeze a fan creates can reduce the temperature in a room, which means tenants won’t have to rely on the AC so much for cooling. This can help you save money on utility bills. In the winter, reversing the direction the blades spin can distribute warm air. Lighting If you choose a fan with one or more lights included, it can provide illumination that can spread throughout an entire room, reducing the need for several smaller lamps. If a fan has a light fixture, the movement of the fan blades across the light may, however, create shadows that could be distracting. Noise Some ceiling fans create a sound that people find distracting and annoying. This is one reason why many homeowners have shied away from them. Manufacturers have addressed that issue, however, and many newer fans have improved designs that reduce or eliminate noise. Ceiling Height When deciding whether to install a ceiling fan, the height of a room is important. There should be seven to nine feet of space between fan blades and the floor. If the ceiling isn’t at least seven feet high, a fan will overwhelm the space and make it feel cramped. Aesthetics Ceiling fans are designed for any room in the house and come in a wide range of styles. They have varying numbers of blades and a variety of blade lengths to suit spaces of different sizes. The blades can be crafted with several materials and come in a plethora of colors. You may be able to find the perfect model to enhance your home’s appearance while also providing functional benefits. Are Ceiling Fans Right for Your Home? Some rooms in your house may benefit from ceiling fans, and others may not. If a room gets a lot of sunlight or has poor circulation, a ceiling fan may help, as long as the ceiling is high enough. Installing a fan may be a particularly good idea for a room where you and your family spend a lot of time. If you decide to install one or more ceiling fans in your home, look for ones that will complement each room’s design and decor. Source: RIS Media
construction
02 Apr, 2021
Home maintenance and repairs can be expensive, and it can be tempting to put projects on the back burner if you don’t have the necessary funds. Delaying repairs may make it difficult to sell your house in the future and get the price you want. Ignoring an Issue Allows it to get Worse If you nip a problem in the bud, you can limit the damage. If you let things go, the problem will likely become more serious. For instance, a small leak can turn into a bigger one. Drywall and insulation may get wet and may need to be replaced. Mold may develop, which can create a health hazard. The cost to address all those issues will be much greater than the cost to fix a minor leak. Issues That You Ignored may Turn off Buyers Potential buyers will form an impression of your home in seconds. If they see stained carpet, for instance, they may immediately decide not to buy the house. Replacing the carpet or paying for a professional cleaning may make a world of difference. Buyers want houses that are modern and ready for them to move into right away. If your home is outdated, especially in the kitchen and bathrooms, potential buyers may choose to keep looking since there are probably plenty of other houses out there that have been updated. A Buyer May Want a Price Reduction Before a deal can proceed, the buyer will request an inspection to learn more about the house’s condition. If the inspector notes problems, you and the buyer will have to decide how to address them. You may agree to make repairs before you sell the house or to lower the price. If you let a problem go for years and you’re finally forced to make repairs, the price tag may be steep. If you and the buyer agree to a price reduction, you may have to give up more than the actual cost of repairs because of the inconvenience to the buyer. The Deal May Fall Through If your home has serious problems, the prospective buyer’s lender may refuse to approve a mortgage unless repairs are made, or the buyer may choose to walk away. You may have to go back to square one and look for a different buyer. State laws require home sellers to disclose any problems they are aware of that can affect a home’s value. If issues were noted in an inspection, you will have to reveal them to other potential buyers. That may make it difficult or impossible to sell the house, unless you shell out money to make repairs. Talk to Your Agent You don’t have to fix every problem before you sell your house. Your agent can discuss your home’s condition, estimated repair costs, the local housing market and whether you should pay for repairs now or factor those costs into your asking price. Source: RIS Media
rain drops
02 Apr, 2021
Moisture in the basement can cause structural damage to your house. In a finished basement, moisture can damage furniture, flooring and electronics. In addition, it can lead to mold, which can impact your residents' health. Here are some ways to deal with the problem. Moisture Coming From Outdoors Often, moisture in a basement comes from outside the house. Think about whether you experience problems on a regular basis or only under specific circumstances. If your basement is wet or damp after it rains, that may mean that moisture is getting in from outdoors. If the gutters are clogged with wet leaves, pine needles and other forms of debris, they can’t do their job. They may overflow and deposit water near your house’s foundation. If the downspouts aren’t directing water far enough away from the house, it may be making its way into the basement instead. Have a professional clean your gutters, check their condition and make sure the downspouts are positioned in a way that will protect the house from runoff. The grading in your yard may be the cause of the issue. If the ground slopes down toward your house, rainwater can run toward the foundation and leak in through cracks or through window wells. Have a contractor check the grading in the yard. If water is running toward the house, adding soil around the foundation so water flows away may take care of the problem. A contractor can look for cracks in the foundation and make repairs to protect your basement from further moisture issues. If the window wells are poorly designed or damaged, a contractor may be able to make repairs to keep water out of your home. Moisture Coming From Inside the House If your laundry room is downstairs, the source of the moisture may be an improperly vented dryer. If you have a finished basement, the moisture may be coming from a shower or a kitchen on the lower level. Improving ventilation may take care of the problem. Have a contractor check the vents in the dryer, as well as in the kitchen or bathroom, if applicable. There may be a blockage or the vents may not be directing moisture outside. It’s also possible that water is coming from a leak in a pipe, washing machine, dishwasher, sink or toilet. If the moisture in the basement is confined to one area, think about what is directly above it. Look for pools of water or water stains and have a plumber make any necessary repairs. Address Moisture at the Source Running a dehumidifier in your basement may improve the situation temporarily, but it’s not a long-term solution. Figure out what is causing moisture in your basement so you can deal with the root of the problem to protect your house and your residents' health. Source: RIS Media
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