Buying your first home is a stressful experience. When the initial excitement of deciding on the perfect neighborhood, finding the best house for your budget, and signing on the dotted line begins to fade, you’re left with coming up with a down payment, signing loan documents, handling inspections, escrow, and the anxiety that comes with packing and moving all of your belongings. It’s easily one of the most stressful times in anyone’s life.

With that said, my husband and I moved into our first home just last summer, and I can honestly say that it was one of the most frustrating and anxiety-inducing experiences that I’ve ever experienced. Now, from this awful experience, I was able to gain some knowledge on the entire process, and I can say that there are things that I would do differently if we had it all to do over again. That’s what I want to share with you today. I want to give you some advice that I wish someone had given me before we went through this entire process.

Ensure you’re working with quality people

Our first real estate agent was a nightmare to work with. She recommended a loan officer who couldn’t get us approved with favorable terms, she didn’t answer phone calls (or return the call in a timely fashion), and she was quick to show us properties that didn’t contain the items on our wish list, or were too far above our agreed upon budget.

It didn’t last long. We ultimately hired a real estate agent who put us in touch with a loan officer who we loved (and would highly recommend), was more than thoughtful about returning calls, and showed us just what we wanted to see without pressuring us to view properties in a separate part of town, or that were above our price range. It was slow going, but she found us the house of our dreams, and for that we’re highly appreciative.

Anticipate hiccups

Nothing goes right when buying a house. Anticipate these issues before they happen, and you’ll find that you’re much more likely to laugh when they do as opposed to stressing out. Oh, and in anticipating thing going wrong, don’t buy a house without hiring (and listening to) a home inspector.

Accept that you can’t have it all

You might not find everything on your wish list in your budget, or you might learn that living just outside of the area that you had initially chose actually makes more financial sense. Unless you have a budge that supports it, you have to understand that — at some point in the process — you’re going to have to compromise. We didn’t get it all, but it’s better than renting.

Hire movers

I wish I had. We looked up the cost of hiring movers to move us out of our condo and into our new home, but ultimately decided that we’d just take a few days off and do it ourselves.

Big mistake. The cost of the movers was only slightly more than the cost of us both taking off work, and we managed to damage more than a few items in the process. In addition, it seems like the entire thing was one big fight. Next time, I’m going to overrule my husband and hire movers to complete the job.

Buying a home is exciting, and although it can be an unimaginably stressful experience, it’s one that I believe we go through for a reason. This new home is where future memories are going to come from, and you don’t get to experience these amazing things, without a little hard work first. Enjoy your new home, and the lessons you learned in obtaining it.

Eliminating Stress When Purchasing Your First Home is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

Owning a home is expensive. Not only do you have to pay for the home itself, but there are many other costs associated with home ownership. If you aren’t careful, these extra costs can quickly pile up, and before long you are spending more than you can afford.

Luckily, there are a few simple ways that you can cut costs around the home, and make it a little easier to stay within your monthly budget. If you’ve found that you’re spending too much each month on your home, try some of these ideas. 

Adjust the temperature

One of the biggest expenses for any home goes towards our heating and cooling bills. We want to be comfortable in our homes, and as a result, we turn up the heat when we are chilly, or crank the AC during the summer.

And while you should feel free to use your heat and AC as you see fit, sometimes adjusting it by a degree or two can make a large difference. So the next time you want to turn the heat up in your home, consider throwing on a sweatshirt instead, or if the room is too warm, opening up a window and turning on a fan. It may not seem like much at the time, but when your bill arrives at the end of the month, you might be happily surprised.

Adjust your hot water

Besides just the temperature of your home, you should also think about the temperature of your water. According to this plumber in Mornington, hot water makes up about half of your energy bill.

So if you can find ways to cut costs in this area, you might be in for some decent savings. Try taking shorter showers, or even turning down your hot water system. Another option is to wash your clothes in cold water, rather than hot.

Your shower might not be as hot as you’d like at night, or it might not last as long, but if it saves you money, this might be a sacrifice you’re willing to make.

Install energy saving lights

Another great way to cut some costs is by switching to a different type of light bulb. The lights in your home are probably on so often that you no longer even think about them, but each time you turn them on, you’re using power. By switching to a more energy efficient light bulb, you can save yourself a considerable amount of money in the long run.

Besides energy saving bulbs, also consider putting your lights on a timer. A timer is great for outdoor lights, as you don’t have to remember to switch them on and off. This way your lights won’t run overnight when you don’t need them, and turn themselves back on in the evening before you get home.

Get rid of your cable subscription

More and more people these days are getting rid of their cable subscriptions, or “cord cutting”. Because there are now so many ways to watch your favorite shows – Netflix, Hulu, or HBO Go, many homes are finding that they no longer need a cable package.

If you find that you’re not watching a lot of live TV, or that you don’t mind waiting for your favorite show to appear online, then cord cutting is a great way to save money. To learn more, here is a quick guide on how to get started with cord cutting.

Search for coupons

Finally, one of your biggest expenses is likely food. We all spend a lot on food, trying to keep our refrigerators and cabinets stocked. But if you’re not willing to cut back on the amount of food you buy – or unable – consider trying to find a cheaper way to get it.

By searching for coupons each time you go grocery shopping, you could potentially save yourself a lot of money on your food budget. You might have to switch to some other brands, and you’ll have to put in some time to find the coupons, but this is a small sacrifice that could pay large dividends. Here is a great site to search for coupons to get you started.

Be willing to make sacrifices

It’s possible to be frugal without feeling deprived, but you’ll still likely have to make some sacrifices. Do you mind being a little chilly in your home? Taking a shorter shower? Switching to a different brand of paper towels?

If so, savings could be right around the corner, and before you know it your monthly expenses don’t look as bad as they once did.

5 Ways to Cut Costs Around the Home is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

While many people choose to rent instead, you can still afford a house when you’re broke. Here are a few steps to take if you want to own your own home.

Weigh Your Options

If you live in an area that buying a house is cheaper than renting (even factoring in insurance and repairs), it may be your best option to buy a home instead of rent. When trying to afford a house when you’re broke, you may think that moving is expensive, but it doesn’t have to be.

Some expenses may come up in your first few months of owning a home, but that is to be expected. Think about it this way: If you typically rent for $1,500 a month and you buy a home that only costs $800 a month, you are already saving $700 every single month. If something breaks down, and it costs $500 to fix, you still get ahead by $200 by having your own home.

Now, owning a home isn’t always cheaper, so it’s best to weigh your options. However, in many areas, including my own, owning a home tends to fare better than renting.

Look Into Assistance to Afford a House

Every state has home buying programs that can help you afford a house when you’re broke. While the assistance varies from state to state, it’s still worth it to look into what yours offers. Some will help you secure a loan as a first-time home buyer, even if you are low-income.

Some states even offer grants to move into less desirable areas or moving into more deserted places. It’s best to look into these programs to see what you qualify for, you may be able to get your home for a lot cheaper than you first thought.

Choose The Right Loan

All conventional mortgages require a 20% down payment. But other loans such as VA (military) loans and FHA loans require no money down or as little as 3.5%. If you don’t have a 20% down payment, there is still hope to afford a house when you’re broke.

In some cases, an FHA loan may not be the best option. With an FHA loan, you will be paying at least .85% of your loan in mortgage insurance every single year. That only goes away when you refinance or:

1. Have at least 20% of equity in our home; or
2. Paid at least 20% of mortgage payments

While conventional loans may have higher interest rates, you can avoid PMI fees.

Location Can Make A Difference

If you are looking for a home in an affluent neighborhood, chances are that it’s going to cost you. You may have to settle for less or pay hefty fees. Instead, try looking in neighborhoods that have fixer uppers, or are a little more affordable.

This doesn’t mean you have to sacrifice your safety, but it does give you a little more flexibility and opportunity to afford a house when you’re broke.

Lower Your Loan

Even with the economy and recession, many Americans are still qualifying for loans way above their means. While this may seem like a great thing at first, instead you will be getting a home that you can’t afford.

To make sure that you can afford a house when you’re broke, try using an online calculator to see what payments would work best for you, and keep your loan in that amount. And remember, you don’t have to take all of the money that the bank offers you.

Cut Unnecessary Spending

If you can’t afford a 20% down payment on your home, and won’t have extra cash in your budget to prepare for emergencies, it’s time to cut back on your expenses.

Try living frugally, like making your own food at home vs. going out to eat, or cutting down on expenses like your phone bill. To be able to afford a house when you’re broke, you’ll have to make a few sacrifices in other areas.

Be Happy With Your New Home

When you are trying to afford a house when you’re broke, you may have to make a few sacrifices on your first home. You may not get all that you wanted on your wish list, but that’s okay.

Everyone starts somewhere, and you can always get a bigger and better home later down the road. But for now, be satisfied with what you have.

It’s not impossible to afford a house when you’re broke. It just takes some careful planning, research, and savings. A home is a great thing to have.

How To Afford A House When You’re Broke is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

Wait, what!  Save money on a loan?  That’s right.  I bet you didn’t know that you could save money on the loans you have.  Sure, one simple answer is to look for the lowest interest rate. But in the days of the internet, it has become harder for lenders to charge more than the market rate for the privilege of using their money. 

Take, for example, your average mortgage.  Let’s say it is for $200,000 and is on a 30-year fixed rate loan of 6 percent. Based on that the monthly payment is $1,199 or a total payment of $431,640 over the life of the loan.   You got it right, the bank will charge you more than double what your original loan was for if you keep the loan for the entire 30-years. 

OK, enough with the depressing news, let’s see how you can save some money.

Extra Payments

Now you know how much your loan costs why would you be content with making the minimum payment every month.  Instead, you want to put together a plan to make at least one extra payment per year.

These payments will automatically be applied to the principal balance on your loan and this will help you to not only pay down the loan by eliminate some of the interest payable.  If you think this sounds too good to be true then check out the math for yourself. 

Based on the payment schedule mentioned earlier one additional payment per year will help you to save more than $45,000 and will cut nearly five years off the life of the loan – talk about saving.

Bi-Weekly Payments

You might have assumed that you can only make monthly payments on your loan but this isn’t the case.  Besides making extra payments another option is to ask your bank to put you on a bi-weekly payment schedule. 

Doing so will cut the total payment amount in half and this will make it easier to manage from a cash flow perspective.  In addition, you are reducing to total amount of time which the interest can compound and this will result in additional savings.

Shop Around for Mortgage Insurance

This is something else that most people don’t know but you can shop around for mortgage insurance.  In this way, you can find a policy which might be as much as 20 percent less than what you are paying now. 

However, you don’t want to take those savings and run to the casino, instead use the money to accelerate the payments on your mortgage.  Even if you only save $100 per month that is the cost of another additional mortgage payment every year and if you can do this AND make the additional payment as mentioned above, then you can save close to $94,000 and reduce the life of your mortgage by 10 years.

Property Taxes

This is something else which most people take at face value but in most places, you can ask to have your home reassessed, especially if the property values in your community went down over the last year. 

By doing so you can lower the cost of your property taxes in absolute terms and this will give you extra money to put towards your mortgage.

Hit the Reset Button

Ok, many lenders won’t be willing to do this but in some cases, you can ask to have your mortgage reset, especially if you regularly make large payments. 

This will recalculate the payment over the remaining time that is left on the loan and this could result in further savings.

Hit the Pause Button

While the other tips were geared for borrowers of all ages, this one is for older borrowers who can use the equity in your home to pay off their existing mortgage and then take the money they saved to invest for their retirement.

This is called a reverse mortgage and has become a more popular option in recent years.  If you want to learn more about reverse mortgages, then check out this state by state listing of vendors.

There you have it, six ways to save money on your loan.  Check them out for yourself as the money saved will help you to achieve financial freedom.

How to Achieve Financial Freedom is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

Without a good credit score, we might have problems getting credit cards, get a decent deal on our auto loan and so on.

A good credit score enables us to get a decent mortgage so we can buy a house for ourselves and our families.

But, what if our credit score simply is not good enough to get a deal that is acceptable for our current financial situation?

Credit scores can mean the difference between a mortgage and down payment that we pay with ease, and one we’re going to struggle with.

Financial decisions are the cornerstone of our modern lives. Not handling our finances, the proper way, may cause our credit score (and thus our credit worthiness) to crumble.

This is a vicious circle and we should avoid bad financial decisions not only when considering to buy a house, but every time we use our credit card.

Because this is a very important topic for many of us, we want to break the whole credit score thing down to some basic elements in order to give you a glimpse at what it means to have a “good enough” credit score to buy a house.

Credit Scores and Lenders

Credit scores are a numeric value that determines the amount of your trustworthiness in paying back the amount the lender is willing to give you. You have a good credit score if you have a good payment history, debt payment on time, a decent and steady income etc. All of these factors are taken into account when your credit score is calculated. The standardized formula used by many banks and lenders is called the FICO score. It is an algorithm that determines your personal credit score based on all of the financial decision you’ve done in your life.

This may sound a bit scary at first, but once you get a bit more into it, you’ll see that this FICO score is rather handy not only to the lenders but also for you. If you know that you FICO credit score is simply not good enough to land you a good deal on a mortgage, you can attempt to improve it.

This improvement can be done by changing up some of the financial habits you’ve acquired over the years. Hopefully, there are no big debts and problems financial wise, so improving your credit score can be taken on with ease.

All you need is an assessment of your current credit score status. There are plenty of services online that can help you with credit score reports and analysis, so you can start improving your credit score from the comfort of your home. To check your free credit scores now visit Cafe Credit.

How do credit scores affect interest rates?

Lenders and banks are businesses. We have to get this into our heads. They’re not charities that want to help, they’re businesses that want to make money. When they grant you a mortgage, they’re expecting to make a profit over the years through interest rates you’re going to pay them. These interest rates are determined by your credit score. If you have a bad credit score, the lender might still give you a loan or mortgage, but he or she has to have a bit more security by doing this. That’s why they put a higher interest rate on your loan, because they’re engaging in a bigger risk by giving the loan to someone with a “bad credit reputation”. However, if you have an excellent credit score, the lenders think of you as someone who can pay back the loan with ease, and thus offer you a great deal so you do business with them.

What credit score do I need for buying a house?

You can get a mortgage with a credit score as low as 500 points. However, you should be prepared for some very high interest rates in this case. It is safe to say that, if you have a credit score between 500 and 600, you should reconsider getting a mortgage at all. Only if it is absolutely necessary and there’s no other way, a mortgage with this credit score would be even considered. And, if you decide to do that, be certain that you can handle the monthly payments so you don’t get sucked deeper into the vicious circle of bad credit scores.

With a credit score between 601 and 699 points, your mortgage will be affected with interest rates 4-10% higher than the lowest available rate for the mortgage you’re applying for. This means that, if the lowest mortgage rate possible is 10%, you might get a rate of 11%-14% with the credit score you have in this example.

A credit score of 700 and higher will land you in the golden zone of loans and mortgages. You’ll probably get the lowest rates possible and thus getting the best deal possible. However, if you’re lucky enough to land such a good deal, be aware of the potential risks it entails. There are many cases in which people with excellent credit scores get loans and mortgages, only to then fall behind on their payments and damage their credit scores for good.

Improve your credit score before applying for a mortgage

One of the best tips we can give you regarding your credit score, is trying to improve it with all means you have at your disposal. Every time you’re applying for a mortgage, it can affect your credit score, so don’t simply rush into applying for one before checking what you can do to improve your odds in getting a good deal.

While credit scores may be tedious when trying to buy a house, they’re there for a reason. Understanding that reason is one of the first steps towards finding an incentive to improve you own credit score. A rule of thumb should be not to consider applying for mortgages if your credit score is lower than 650, as you will definitely get a lousy deal out of it.

Best Credit Score for Buying a House is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

Thinking ahead can help you to have a plan in place for the unexpected. No matter the timeline, a few smart strategies can help you get the money you need. Here are a few things you can do to finance your home upgrades and repairs:

Find the Best Deals and Values

The first place to start with any home repair or upgrade is to find the provider who is offering the best deal for the best quality product or service. You don’t want to just focus on a low price. You could be sacrificing quality for that lower price, and you would end up spending a lot more on repairs and replacement in the future.

Instead, you want to focus on a price that is fair for the product or service you are getting. For example, if you are looking for the highest quality replacement windows New Orleans has to offer, GoBuildPro offers zero-percent financing and a lifetime guarantee. You’ll get a fair price on windows without having to pay extra in financing, and you’ll have the assurance of a long life span.

Build an Emergency Fund

Even with the best pricing, you may still not have enough if you haven’t saved a bit of money. Not every provider offers financing, let alone financing with good terms. You need to have at least a small fund set aside in case of emergencies.

If you aren’t good at saving, there are several things you can do to make it easier. Some people put aside their change after paying for something in cash. Others sign up for a program through their banks that automatically deducts a certain amount for a savings account or funnels reward payments into a savings account. Every little bit you can put aside helps. You’ll be happy to have that money when disaster strikes.

Get a Home Equity Loan

If you have lived in your home for longer than a few years, you likely have a bit of equity built up that you can draw on for home repairs and upgrades. The longer you have lived in your home, the more equity you are likely to have. However, if the area where you live has seen a big real estate boom, your house may have shot up in value. The only way to know for sure is to get an appraisal.

The great benefit of a home equity loan is that once you’re approved for it, it operates almost like a line of credit. You can draw on it as needed to fund repairs or upgrades, and you will pay a low interest rate in the process.

Stick to Your Maintenance

An ounce of prevention is worth a pound of cure, and that goes for home repairs also. If you are proactive and stick to your scheduled maintenance, you’ll save a great deal of money down the road. It may be a pain to shell out $100 here and there for a chimney sweep or an HVAC inspection, but it’s nothing compared to the thousands you may end up paying in repairs.

The money you save on repairs can also be put aside for savings for home upgrades. You can fund your dream kitchen or a new roof by just getting an annual roof inspection and other maintenance.

The high price of home repairs and upgrades can seem overwhelming, especially if you are living on a limited budget (the way most of us are). Yet these smart strategies can help you pay for just about any repair or upgrade that’s needed. You just need to be a little proactive and be consistent.

Smart Strategies for Financing Home Upgrades and Repairs is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

For most people, bathrooms are unfortunately overlooked in the redesign process. This important space deserves an upgrade as much as any other portion of your home, and it’s easy and often inexpensive to create a modern, practical bathroom while adding value to your home.

Here are nine ways to upgrade your bathroom on a budget:

1. Out of the Ordinary

If you’d like to go a little more out of the ordinary with your design, check out bathroom fixtures and appliances you won’t soon see anywhere else. Whether it be a unique sink or a kitschy toilet seat that will bring laughs or looks of disbelief, suit your bathroom to your personal tastes.

2. Don’t Skimp On the Walls

Don’t leave the walls bare, especially when you’ve put in so much effort to make your bathroom look and work better. If you’d prefer to avoid the hustle and bustle of a crowded shopping mall, do some one-stop shopping on a modern web store that provides all the eye-catching wall art and accessories you need to really put that finishing touch on your bathroom.

Sites like Touch of Modern offer canvas prints bound to grab attention and stylish electrical outlet cubes for all your plug needs, plus everything in between to make sure bathroom is as comfortable and modern as possible.

3. Reorganize

If you find your bathroom is in a constant state of chaotic clutter, it’s time to revamp your organization. Add pullout drawers to existing cabinets or add a freestanding drawer set to unused space and clear the mess from your sink counter.

If you’ve already got drawers that are a mixture of everything you’ve ever used — and maybe stuff you don’t remember buying —g et some drawer organizers and set to arranging your items in terms of usefulness. You might find you’ve been unknowingly holding onto things you don’t need. A good bathroom purge clears more space than you might think.

4. Let There Be Light

Light is arguably the most important thing you can change in any room to provide an instant upgrade. You spend a lot of time in the bathroom, and for many of us, it’s where we get ready for the day.

Without good lighting, the primping process is a struggle and it doesn’t need to be. Replace harsh florescent lights and add a border of lights around your bathroom mirror. Simple switches like this can make a large difference.

5. Repurpose

Use old items you may have laying around in the backyard or garage and give your bathroom and elegant touch of rustic appeal. An old wooden crate can be refinished to make a perfect shelving unit, or contain the bathroom reading materials you usually just throw to the side. Find an old table at a flea market and transform it into a small vanity.

6. Upgrade Spouts

Make stepping into your shower feel like immersing yourself in a rainforest. Add a rainfall shower head and revel in the warm water cascading directly over you. Try one with changing LED lights, or go all out and purchase a faucet system with various spouts and shower heads. Showers should be luxurious, and newer spouts are often much more water-efficient.

7. Tranquility

Bathrooms are the place where we wash away the stresses of the day, so following that vein, it makes sense to create a tranquil space. Choose a calming color and paint your walls for an instantly transformed vibe.

8. Sprucing

Simple tricks can make your bathroom a more practical space. Provide a neat-looking basket and fill it with toilet paper. This bathroom necessity is perfectly contained, looks like decoration, and you’ll never make your guests scramble to find toilet paper again.

Add silk flowers to a vase for a bouquet that never wilts and always provides an extra bit of décor.

9. Ecofriendly Options

With constantly depleting resources becoming an international concern, upgrading your bathroom to be ecofriendly is more important than ever. There are a variety of ways you can accomplish this. Replace your old toilet with a water-saving new design. Install aerators on your water spouts to reduce wasted water, and replace a tanked water heater with a tankless heater to cut down energy costs and improve air quality.

There are a variety of ways you can make this important space work better for you, and guests will notice the difference in practicality and design. After all, it’s a space in the home everyone has to visit eventually. Make it a pleasant visit by upgrading your bathroom.

9 Ways to Upgrade your Bathroom on a Budget is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

Homeowners can sometimes talk themselves into spending money on their house by assuring themselves it will add value at resale time. However, it turns out that there are many improvements that do not add the value you may be banking on. To ensure you stick to projects that successfully add value to your home, check out the details below and get inspired.

Little Investment, Big Reward

The best improvements the add value to your home are the ones that pay off big time with little capital and effort. The difference may not always be that obvious to you, but adding luxury attractions does not usually boost value as much as functional changes.

In general, the more personal a home improvement is, the smaller the chance it will make a substantial difference in resale value. It’s a good idea to look for solutions that everyone can use, like improving the kitchen or bathroom vs. adding a man cave. Remember, the actual cost and payback for each project depends on real estate market values in your area, as well as your home’s overall condition.

Add Value to Your Home with Appliance Upgrade

From the kitchen and bathroom to the laundry room, energy efficiency and updated appliances seem to be more important than ever to potential buyers.

If something doesn’t match or looks old, you may be able to just add new doors or face panels. One type of door that is growing in popularity to increase home values are sliding barn doors, as they are able to change the feel of any space they are in. But if something is truly old and inefficient, you might want to consider purchasing a newer model.

Adding new hardware can be a great way to spruce up these rooms and add value to your home if you can’t afford all new things. You don’t need to make things too fancy (this can sometimes even work against you), but remodeling a kitchen and keeping up-to-date on appliances can really pay off because these spaces are generally the real heart of a home and can add value to your home.

New Rooms on the Cheap

Adding a bedroom can add tens of thousands of dollars in value to your home. The difference between a bedroom and any other type of den, living room, or office is simple: a closet. Adding a closet to any room with a door can turn it into a bedroom just like that. You will just need to put up some framework and add drywall, which can often be done for less than $2,000. A local real estate agent can advise you on any other local regulations or specs you’re required to meet to be able to add the extra bedroom to an official listing.

In trying to add value to your home, you might want to consider finishing your attic or basement to make it livable space because homebuyers are often on the lookout for versatile spaces. Reinventing your existing space can be much more efficient and effective even than adding square footage. If your home only has one bathroom, you might also consider turning underutilized areas into another bathroom.

Paint & Packaging Add Value to Your Home

The least expensive and most cost-effective value booster for your home will likely be painting it. A fresh coat of neutral colors inside and out will brighten your house and make everything look more attractive. Curb appeal is important, so you also might consider investing in some low-maintenance landscaping like shrubs and colorful plants that are native to your region and so require less maintenance.

When someone is getting ready to shell out a lump sum as a down payment to buy a new home, they are generally looking to get the best bang for their buck. Do your best to discern between improvements that are worthwhile and those that just won’t help you sell, but don’t forget that you can always call in an expert who knows the conditions in your local market to help you decide. It’s a good idea not to let TV shows and your personal desires or unique needs guide your home improvement decisions if your goals are solely improving resale value and recouping your remodeling costs.

Related Articles

• How Selling Your Home Can Affect Your Credit
• What You Should Know About Home Equity Lines of Credit
• How to Refinance Your Home Loan With Bad Credit

This article originally appeared on Credit.com.

This article by AJ Smith was distributed by the Personal Finance Syndication Network.

Source

How to Make Improvements That Add Value to Your Home is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

While there’s plenty of things that need to be done on the inside of most homes to get them ready for prospective buyers’ viewing pleasure, the appearance of the outside of your home is just as important as the inside. In fact, it may be more important as curb appeal is the first thing that potential buyers will see when they come to look at your house.

It’s easy to get carried away with adding curb appeal and making your home look more attractive and it can get expensive quickly. With that in mind, here are some ideas for how you can add curb appeal for less. We’ll start at the top of the house and work out way down.

Gutters

Adding a new roof is a very expensive project, so it isn’t on the list of how to add curb appeal for less, but that doesn’t mean you should neglect how the top part of your home looks from the street. Cleaning out your gutters to remove leaves and built-up debris can make you home look more attractive, well-kept, and it’s also a good idea to do this on a semi-regular basis for safety reasons.

Wipe Down and Paint Trim

Taking a little time to wipe down the trim and re-paint it if necessary is a very cheap project. Most people have a little left-over paint they can use to add a coat of paint to their trim, making it look clean and fresh in the eyes of potential buyers.

Add Shutters

If you home needs a little more color to be inviting, you should consider adding shutters that match your trim. This is a fairly inexpensive and long-lasting way to add some more color and personality to the front of your home.

Give Your Door a Make-Over

The front door of your home is one of the first things that guests and buyers will see. Painting your front door a fun color makes your home look more inviting and modern. You can also switch out hardware on you door fairly inexpensively (unless you change the locks, that can get expensive).

Don’t Forget About Your House Numbers

House numbers are a small detail many people over-look, but changing out your ancient house numbers for more modern ones is a good idea.

Mow the Grass for Curb Appeal

Keeping your lawn mowed, trimmed, and well-manicured while your home is on the market is a must for curb appeal! If your lawn looks over-grown it automatically makes your home look neglected, no matter how much you put into the other items on this list.

Add Some Flowers

Putting a couple of planters on the front porch or by the mailbox add some color to the front of your house and make it look well taken care of. You can either plant the flowers yourself in some existing pots, or you can spend a bit more to get some that are pre-potted at a greenhouse.

What other ways can you think of to add curb appeal to your home without spending much?

How to Add Curb Appeal for Less is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.

Years before I seriously considered buying my first condo, I had heard that a 20 percent down payment was the norm. I couldn’t imagine having that much money set aside as a down payment. Regrettably, I didn’t buy as soon as I wish I did, and kept living in apartments for a few more years as I tried to save for a down payment.

The down payment requirements aren’t as strict as you might think, however, with banks offering home loans for as little as 3 percent down if you have good credit.

Fewer people are buying homes, whether because they can’t afford it or because it’s cheaper to be a renter. Home ownership rates in 2014 dropped to a 20-year low, with 64.5 percent of Americans owning a home — down from 69 percent a decade earlier, according to the U.S. Census Bureau.

If you want to someday avoid paying rent by owning a home outright, then owning a home is the way to go. But even if you can’t come up with a down payment, there are still ways to buy a home. You just have to be a little creative and willing to take a few more risks.

Here are six ways to either buy a home outright by coming up with the total cost, or finding a reasonable down payment that doesn’t require years of saving for your first home:

1. Soak your retirement account

This may not be an especially appealing way to buy a home, but it’s possible if you’re willing to pay a 10 percent penalty on the retirement account withdrawal and pay taxes on it. If you’re under 59.5 years old, you can pull money out of a 401(k) to buy a home, but you’ll have to pay fees and taxes that you wouldn’t if you were of retirement age.

A Roth IRA might be easier to take money out of because it’s an after-tax account and you’re only taxed on earnings.

You can also borrow money against your retirement account to make a down payment on a house, though if you lose your job the money will have to be repaid within 60 days.

2. Have a low-budget wedding

With the average wedding costing $20,000, some couples are opting to skip the expensive wedding and put the money toward a down payment on a house.

In a survey by ERA Real Estate, nearly 60 percent of women in a survey were willing to give up a honeymoon for a down payment.

It’s at least a conversation worth having as a new couple.

3. Parental loan for down payment

Your parents may be kind enough to offer you a home down payment as a gift. But don’t do it because it would be subject to the gift tax.

Instead, have a lawyer write up a promissory note and sign a contract. Like pulling money out of a retirement account, this option may not be so easy to do, especially if you don’t like seeing your parents at Thanksgiving when you haven’t made the monthly loan repayment to them in a few months.

4. Borrow against your life insurance

A whole or variable life insurance policy may allow you to borrow against the principal, without having to repay the loan. This will mean less money for your heirs when you die, however.

You’re basically borrowing money from yourself. Some lenders may only allow you to borrow up to a certain percentage of the cash value you have in the policy.

5. Rent to own

If the house you’re renting is for sale, or could be, offer the owner some extra monthly rent money that would go toward credit for buying the home eventually.

This option may require a larger down payment to give the landlord — which could be done with some of the steps above — but it would allow you to remain a renter for awhile longer while building equity in a home you’re going to buy in a year or so.

Or pay more than the purchase price of the home, essentially getting an interest-free loan for a year while you live in the house as a renter. The rental money for the coming year could be added up as a down payment.

6. Co-signer for a home loan

If your parents don’t want to loan you money for a down payment, ask them to co-sign on the loan.

It can make you a better loan risk and won’t require as good of a credit score to get a home loan. The downside is that your parents are also responsible for the loan, so if you don’t make mortgage payments, it would hurt their credit.

Those are some ways to either avoid a down payment or make it easier to get if you haven’t saved for it. What down payment options have you used?

6 Ways to Come Up With Down Payment for a House is a post from: When Life Gives You Lemons. Did you like the post? Follow me on Twitter, like me on Facebook, or hop on over to my blog and leave me your feedback.