Home Ownership

Growing Green Thumbs: Gardening With Kids

Gardening with kids can produce a bumper crop of benefits. You’ll get vegetables or flowers, while your child will learn a bushel of life lessons. Here’s how children can benefit from gardening and how you can put them to work....

Life lessons in the garden patch

Gardening with kids teaches them many lessons, including the following....

How to plan: Gardening requires forethought. Involve your children in choosing a spot for your garden and the plants you will grow there. Let them help design the vegetable and flower bed layout and arrange plants to complement each other. These experiences in planning will set them on a path toward good decision-making.
A good work ethic: Daily tasks like planting, feeding, watering and weeding are essential for healthy plants. Allowing your children to help with or be in charge of these duties will show them that hard work is necessary for a bountiful harvest.
A sense of ownership: Allow kids to help establish and cultivate a garden, and they’ll see what their efforts can produce.
Science education: Gardening helps children learn about plant life, seed germination, photosynthesis, the importance of hydration, and pollination by bees and butterflies.
Food Supply: Children who help grow vegetables and fruit will learn how food gets to their kitchen table. After their small-scale farming efforts, they’ll never see the grocery the same way.

Getting started gardening with kids

Let children ages two to six perform simple garden tasks. Provide them with child-sized implements: gloves, a hand trowel, a rake (choose metal over flimsier plastic), a watering can, and a hat for shade. Assist them in planting their first seeds or bedding plants in various bright colors such as reds, blues, yellows, and oranges. For example, marigolds, sunflowers, tomatoes, or orange peppers will delight them. Let young children water under your supervision, and help them stake tomato or bean plants and harvest vegetables....

Children between six and twelve can handle some tasks independently once you instruct them. Involve them in decisions about what to grow. Explain how to lay out the garden, properly space plantings, schedule waterings, keep weeds under control, and when to harvest....

Teenagers can handle even more independence. Assign them space in the garden and let them do as they please....

Buying, Buying a Home, Selling, Selling Your Home,

Buying or Selling a Home With Unpermitted Space

Selling or buying a home where construction was done without required building permits can be a prickly problem that is difficult and expensive to resolve. Here’s what to consider when a home has unpermitted space....

Problems for the homeowner

Homeowners may be tempted to remodel without getting a building permit and related inspections. But this decision can come back to haunt you....

If unpermitted work ends up causing damage to the home, your homeowner’s insurance may not provide coverage. If governing authorities discover you’ve done unpermitted space, you’ll face fines, not to mention back property taxes that could be assessed for unpermitted work that improves your home’s value. The authorities could even require you to tear out the work and restore your home to its original condition....

How about when you want to sell?

When it comes time to sell, the seller’s disclosure form that many states require you to complete regarding the property’s condition may ask if unpermitted work has been done. You must answer truthfully or face legal liability. Even in states where seller’s disclosure forms are not required, concealing the unpermitted space puts you at risk of a lawsuit from the eventual buyer....

Once you’ve got a contract, your buyer’s inspector will likely notice the work and ask about permits. If the work was unpermitted, a loan appraiser may not include the value of the improvements, thus under-appraising the house for the buyer’s mortgage loan....

If you’ve got unpermitted work in your home, you have two options when it’s time to sell....

Contact the governing entity and apply for inspection and permit approval after the fact. This could involve considerable time and expense depending on how strictly your local authorities treat code compliance issues. The authorities may approve the work, but charge fines on top of the unpaid permit fees.
Offer the buyer a significant discount from the selling price based on his assumption of the risk.

Keep in mind that some interested buyers may simply walk away once they learn of unpermitted work....

As a buyer of a home with unpermitted space

If you learn that a house you are interested in has unpermitted work, you have three choices....

You can walk away.
You can ask the seller to disclose the work to the governing authority and get the required permits and inspections. The seller, however, may not be willing to undergo this protracted and expensive process.
You can accept the property as is and ask for a significant discount for taking on the responsibility of getting the work permitted after the fact.

Consider the fact that it can be difficult to get a mortgage loan on a home with unpermitted work. And if the unpermitted work is not disclosed to the lender but discovered later, the lender may be able to call the loan, which will make it payable in full immediately....

In a nutshell, work that has been done unpermitted should be reconciled with the governing authorities to eliminate the unacceptable risks associated with it for both sellers and buyers....

Relocation, Selling,

I’m Moving: How Do I Find the Best Schools for My Kids?

When moving with children, one of the first decisions you’ll need to make is a big one: Where are the best schools to send the kids?...

Do Your Homework

If at all possible, research your options before you move. Among the choices: local schools, charter and magnet schools, private schools and boarding schools, and, if moving abroad, international schools....

Charter schools are independent, publicly funded schools that are approved by the state. Teachers, parents and the community establish and operate these schools, giving them more freedom and authority than regular public schools in their academic structure. Periodically, charters are reviewed to ensure the school is meeting its mission and standards, and sometimes charters are revoked. Students typically must apply to enroll.
Magnet schools, often located in old schools or declining areas of the community, are public schools that offer special programs to draw a more diverse student population. Check into enrollment and transportation procedures, as they may be different from your child’s assigned base school policies.
American International Schools specifically cater to American students preparing for entry to U.S. colleges and universities. If moving to a major city, this might be an option. Due to their popularity abroad, enrollment is about 3.5 international students to 1 U.S. student.
Foreign K12 Schools, which teach kindergarten through twelfth grades (also called primary and secondary education), offer curriculums from other countries such as the United States, Canada, Australia, and the United Kingdom. You might find one that closely coordinates with your child’s current school, possibly making adjustment easier.

Ask Around About the Best Schools

Seek the advice of your real estate agent, new colleagues and neighbors in your first weeks in your new city or country. An insider’s opinion on local schools is invaluable. If moving temporarily – for a single school year – it might be less disruptive to find a school whose curriculum and schedule line up most closely with your child’s current school....

Consider Online Classes

Virtual learning has increased in popularity and accessibility. Both public and tuition-based private schools offer distance learning through online classrooms. If your child has trouble adjusting, or you expect to return to your original home, check into virtual classes....

General Tips

Have all your child’s documents assembled and easily accessible. These include passports for international moves, birth certificates, medical records, and any housing documents needed for registration. Visit the school with your child, if possible. Use websites, email, and phone or video calls to introduce yourself and your children to the teachers. Make sure the school schedule coordinates with your new work schedule. Don’t forget to arrange for before- and after-school transportation....

Investment, Money,

Should You Manage Your Rental Or Leave It to the Pros?

Being a landlord is hard work, especially if you’re overseeing day-to-day management of the rental properties. Here’s what you need to consider before diving in to DIY property management or choosing to hire a pro....

How much rental property do you own?

A property management company may be the best solution if you own multiple properties. Multiple rentals will produce multiple requests for repairs, along with regular maintenance, rent collection, showing and leasing, and updating units in between occupants. On the other hand, if you own a single rental, you might be able to handle the job, especially if you have a flexible work schedule and the skills to do some of the work yourself....

Are you willing and able to do the job right?

If you’re juggling a full-time job and family responsibilities, property management might be too much of a time commitment. Plumbing emergencies come at all times of day and night and tenants expect a timely response. Another thing to consider is your handyman skill set. If home repairs aren’t your thing, why not leave it to the pros? Location should also be a factor. If you live more than a few miles away, the job becomes more difficult....

What can you expect from the pros?

Management firms should be able to demonstrate an excellent response time to tenant requests. An online request system goes a long way toward making the repair process convenient. Communication is key between tenant and management — as well as management and owner. Ask how many other properties are under management to get an idea how much attention your properties will be given. Also ask about the firm’s team of contractors and whether the company is properly insured. Ask about management fees, and then remember to build those into the rent charged tenants....

Protect yourself

Hiring your brother-in-law or best friend to be your property manager is a bad idea unless that’s their area of expertise. Treat your rentals as a business....

Buying, Buying a Home,

Should You Buy a Home In a Sellers Market?

Even in a so-called sellers market, it can still be a good time to purchase a home. Here’s why....

Are You a Renter?

If you’re currently a renter, you’ll likely face an increase in rent at the end of your lease — especially in a tighter market in a robust economy. With interest rates still relatively low, it’s possible to finance a home with a monthly mortgage payment lower than your rent payment. On top of that, you’ll be building equity in your home and utilizing the significant tax advantages to owning over renting....

Are You a Homeowner?

If you currently own your home, but wish to upgrade, a sellers market may also work in your favor. If your current home is in a desirable location and meets the size and price requirements for the majority of today’s buyers, you could walk away with a substantial down payment on your next home. That favorable scenario will keep your new mortgage payment under control and help build your future equity....

Be patient. In a sellers market, homes sell quickly and you may miss out on a few opportunities before finding a home you want at the right price — and having your offer accepted....

As always, do your homework. Speak to several lenders and seek out properties in areas that are likely to appreciate in value....

Related – Tax Benefits of Homeownership...

...

Saving Tips, Shopping Guides,

A Calendar for Shoppers: May’s Best Buys

You can thank Mom for many of the home best buys that can be scored in May with Mother’s Day sales driving many of this month’s discounts. Later in May, the three-day Memorial Day weekend offers another round of discount opportunities....

Kitchen Gear

The latest and greatest home gadgets that appeal to busy moms — think pressure cookers, crock pots, coffee makers and toaster ovens — will be among the big best buys this month....

Home and Garden Best Buys

Continuing into May, expect seasonal discounts on plants and garden equipment, mulch, indoor and outdoor paint, tools and home repair supplies as DIYers venture outside to get their homes in shape. Ditto for outdoor grills and patio furniture....

Appliances

Look for sales on appliances during the three-day Memorial Day weekend. But don’t fret if you miss out. Retailers will roll out similar sales on each of the major holiday weekends. If you don’t mind last year’s models, another time to tap into extra savings is when the new models are introduced, which typically happens in January....

Furniture

Watch for deals on furniture around Memorial Day and then again on other major three-day holiday weekends throughout the year — similar to the sales on appliances. In addition, smart shoppers can score furniture deals on last year’s styles as the industry preps for its semi-annual furniture market trade shows in April and October in North Carolina, a major furniture manufacturing hub in the United States....

TV Time

Expect sales and discounts on high-definition televisions, Blu-Ray players, surround sound speakers, and other entertainment equipment over the three-day Memorial Day weekend....

Marketing The Home, Selling,

How to Hire the Right Listing Agent

While more than half of home sellers interview only one real estate agent before hiring someone, it’s wise to meet with at least three before making a decision. Here’s a checklist to help you through the process of choosing the right listing agent....

Start with referrals. Ask trusted family members and friends for referrals. Assemble three or more names, set appointments and interview each of them.
Experience counts. An agent with at least two to three years experience should be able to handle any problems that surface in marketing and selling a home. Although don’t count out newly licensed agents that are motivated to deliver top-notch customer service to grow their client base.
Digital marketing savvy? This is huge. More than 80 percent of home shoppers start their searches online. Find the agent’s own business website. It should be attractive and offer professional photos and virtual tours of listed homes. The agent should be comfortable using Facebook and other social media platforms.
Selling numbers? Has the agent sold any homes in your neighborhood? If so, how many? Ask about other listing stats, such as days on market, average sales price, sales price as a percentage of the list price, but remember to put these numbers in the proper context, particularly if in the midst of a slow market.
Preparations. Did the agent come prepared with comparables, sales trends in your area and other insightful data to enhance your sales strategy?
Copy of an agency agreement. The listing agent should clearly spell out what services would be included in the agreement and what would be the financial responsibilities of the seller.
Buyer feedback? This is an important tool that your agent should offer. Online sites such as ShowingSuite.com make it easy for buyers and showing agents to leave comments and ratings.
Extra training and certification? A good listing agent adds certifications and takes special courses to benefit clients.

...

Home Technology, Insurance, Money, Ownership,

A Checklist: Being Prepared for Home Emergencies

Hurricanes, tornadoes, floods, and earthquakes strike indiscriminately, which means every homeowner should be prepared for life-threatening emergencies. Here are ten essential items to have on hand....

A source of power. A generator will keep your refrigerator working to preserve food, and provide lighting at night. Gas generators provide more versatile power but need a supply of fuel, which you would have to have stored in advance. New generation lithium battery power stations provide electricity without fuel dependence and can be recharged with a set of solar panels.
A fully charged cellphone. Keep your cellphone charged — at all times — in case of an emergency. If you receive advance warning of an emergency, take the time to power up your devices.
Water. You can live for several days without food, but only a few days without water. Store the equivalent of one gallon of bottled water per person in the household per day, for both drinking and sanitation.
Food. At a minimum, keep a three-day supply of nonperishable food on hand. Compare prices in stores and online. Have matches for rudimentary cooking by fire or lighting lanterns or candles.
Basic utensils. Plates, forks, knives, spoons, a manual can opener, and drinking cups are all needed.
Hand-cranked lights and radios. As a supplement to your power station, hand-cranked lights and radios provide extra lighting and a source of information, which can be crucial in evacuation scenarios. A hand-cranked light will last for 20 minutes and doesn’t need to be connected to your power station. Old school candles and lanterns are useful. A hand-cranked radio with NOAA weather alerts keeps you informed about emergency conditions. Some units come with charging ports for cellphones.
First aid kit. A well-stocked emergency bag, including bandages, antiseptic, and saline for eyewash, disposable masks and gloves will help deal with urgent medical care.
Hand sanitizers and wipes. When water is scarce, sanitizers are crucial to keeping things clean.
Hand tools. An assortment of wrenches, pliers, and screwdrivers is smart to keep on hand to fix things and shut off utilities.
Maps. We’ve become pretty dependent upon Global Positioning Systems, or GPS to get us places. But in a worst-case scenario, what if GPS is not available? Paper maps will come in handy.

What if you have to evacuate? Cash is always crucial in an emergency situation, so keep a stash of several hundred dollars in small bills. Take changes of clothes, as well as blankets and coats, and the power cords for your cellphones. Take any vital family documents such as wills, passports and insurance policies in a lockbox. Don’t forget to bring food and extra water for your pets....

Selling, Staging Your Home,

How to Keep Your House From Smelling Like a Dog … Or a Cat

You love your pets, but they definitely pose a challenge, especially when it comes to managing pet odors. Here’s a pet-owner’s handy guide to making those smells disappear....

Keep your pet clean. Make sure dogs are washed and groomed regularly. Don’t let their natural body odor build up. Cats groom themselves, but both cats and dogs should be brushed regularly to minimize shedding. Don’t forget to clean your dog’s ears and teeth, which will also prevent unpleasant odors....

Keep pet bedding clean. Wash pet bedding on a weekly basis. Add a quarter cup of white vinegar to the wash to neutralize embedded odors....

Clean carpet and upholstery. Besides bedding, carpet is the most common place for pet odors to infiltrate, followed by fabric upholstery. Vacuum both frequently and have them professionally cleaned multiple times per year. Sprinkle baking soda on carpet prior to vacuuming to absorb odors. For best results, spread evenly with a carpet rake, then vacuum several hours later....

When choosing carpet and area rugs, short pile is better for keeping clean. Slip covers on furniture protect the upholstery and can be washed regularly....

When accidents occur, it is vital to treat them quickly. Use an enzyme-based cleaner and follow directions closely. When having carpets and upholstery professionally cleaned, alert workers to previously soiled areas for treatment....

Don’t forget to steam clean draperies periodically as well, since they absorb smells from the air in the room....

Cat litter boxes. Managing odors with a cat litter box is crucial. Cat waste, especially urine, has a noxious odor caused by naturally occurring ammonia. Make sure the box is large enough and clean the droppings daily. Routinely change the entire contents....

Other tips. Open the windows and air the house out. Keep your heating and air conditioning filters changed faithfully since they, too, will absorb and hold odors. Wash food and water bowls daily....

When selling your home. With pets in the home, a professional cleaning is worth the investment. Hire a carpet and upholstery cleaner as well....

While it’s likely impractical to board your pets for an indeterminate period of time, consider asking a friend or relative to keep them during the first few weeks when showings are most frequent. Pet bedding, toys and litter boxes should also be removed....

Money, Mortgage,

Assumable Mortgages: A Path to Lower Interest Rates

Are you resigned to paying higher interest rates on a mortgage when shopping for a home in today’s market? You may not have to. You could buy a home with an assumable mortgage that was taken out when interest rates were lower. Here’s how assumable mortgages work....

What is an assumable loan?

Mortgage loans that the U.S. government insures are assumable. The federal agencies that back these loans are the Federal Housing Administration, the Veterans Administration, and the United States Department of Agriculture. Private mortgage lenders follow these agencies’ regulations when making loans, and in turn, the government protects the lenders in case of a default. Conventional, non-government-backed loans are not assumable. ...

Once you assume a mortgage, you assume the remaining amount owed, the repayment schedule, and the interest rate of the original mortgage....

How assumption works

In mortgage assumption, you negotiate the house purchase like any other. You agree with the seller to a price, earnest money amount, closing date, and other details. ...

You complete a mortgage application with the lender holding the assumable loan, documenting your employment and income, credit history and anything else the lender wants to see. Although you must meet standard qualification requirements like any other mortgage, some standards the seller had to meet when obtaining the mortgage don’t apply when assuming the loan. For example, you need not be a military veteran or spouse to qualify to assume a VA loan. ...

Assumable loans typically have lower closing costs than conventional ones and often do not require an appraisal, saving you money. Because housing prices tend to rise, the seller may want to sell the house for more than the mortgage balance to be assumed. In that case, you negotiate with the seller to determine that additional amount. You can pay it in cash, take a second mortgage for that amount, or combine the two approaches....

FHA loans require a monthly fee called a mortgage insurance premium (MIP) that is in place for the life of the loan. You can only stop paying that fee by refinancing the mortgage....

Finding homes with assumable mortgages

A professional real estate agent can search the MLS and other portals to find homes with assumable mortgages. In general, sellers with lower-interest assumable loans will note that in the property listing information. Homes owned by distressed buyers in pre-foreclosure fall into this category. These buyers are highly motivated to sell, possibly at a price low enough that the amount over the mortgage balance is very reasonable....

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