Home Ownership

Warm and Cost-Efficient – The Right Indoor Temperature in Winter

We naturally want the indoor temperature in our homes to be warm and cozy in the winter. We’ve all heard the term “polar vortex” by now—that winter weather condition that sends temperatures plummeting and homeowners cranking up the heat. Are there best practices for managing your thermostat settings to keep you warm without draining your energy budget? Experts say yes....

The urge to crank up the heat

When it’s frosty outside, we want it toasty inside, so we dial up the heat on the thermostat. But HVAC experts urge you to keep your thermostat set at 68 max during the day when you are active around the house. If you feel a bit chilled at that level, rather than push the indoor temperature up a degree or two, put on warm clothes and snuggle under a blanket on the couch. Bundling up a bit costs you nothing, whereas cranking up the thermostat raises your utility bill....

At bedtime, HVAC pros recommend setting your thermostat between 62 and 67. Put an extra blanket on the bed. Not only does this save energy dollars, but medical professionals also say that ideal sleep occurs when the room is cooler at night, and you add a warm blanket. ...

Be wise about maintaining the indoor temperature

The easiest way to maintain an ideal temperature indoors and balance your energy budget is to install a SMART thermostat. With it, you can set those temperature adjustments to happen at prescribed times, program it to lower or raise temperatures when you’re gone on trips, and eliminate the chances of forgetting to manage temperatures by memory. ...

Some other tips:...

Add a space heater in hard-to-heat, frequently occupied rooms.
Open window blinds by day to let in warming sunlight, but close them when it’s dark to retain indoor heat.
Seek out and repair leaky seals around windows and doors.
Regularly change your HVAC filters to maintain airflow and a consistent indoor temperature.

Money, Mortgage,

Home Renovation Financing Options: What Homeowners Need to Know

Interest rates have reached levels not seen in years, posing challenges not only for home purchases but also for home renovation financing, which many homeowners are now choosing instead of moving to a new home. But interest rates are high for construction projects, too, so how can you lower borrowing costs?...

Loan choices for home renovation financing

The primary sources of home renovation financing for most homeowners are home equity loans or home equity lines of credit. Both use the homeowner’s equity stake in the property as collateral for the loan. Interest rates, even for a person with good credit, can run near 7%, whereas the homeowner’s original mortgage could be at half that rate. Other loan sources include:...

Personal loans are typically unsecured, meaning neither the home nor the borrower’s financial assets are used as collateral. This results in a higher interest rate and a shorter repayment term. You must also watch out for origination fees and prepayment penalties.
Borrowers with excellent credit profiles can use peer-to-peer platforms such as Lending Club and Prosper, which offer competitive rates, faster approval times, and flexible terms.
Cash-out financing replaces your entire mortgage and provides an additional amount you can use for remodeling or other purposes. You end up with a new mortgage that includes the original balance plus the addition. Rates are comparable to other mortgage products.
The least attractive source of funding is a credit card loan, which is easy to access but can carry a punishing annual interest rate of 20% or more.

What to expect in the financing process

Today’s high-interest-rate environment means lenders are more stringent in their loan approval process. Do your due diligence to shop for the best rates and terms, and make sure you pay existing debt obligations on time....

Ownership, Shopping Guides,

Dented Canned Food: Safe to Eat or Risky?

You’re unloading your groceries at home and notice some dented canned food. Is it safe to eat the contents? Here’s a guide to when it’s safe (and when it’s not) to eat food from a dented can....

Why does canned food have a long shelf life?

Canned goods have been around for a century or more and still provide the longest shelf life for food, other than possibly dehydration. The cans are vacuum-sealed and durable, but they are not impervious. When dropped or banged, they can dent, and if the dent is severe or in key locations, bacterial contamination can occur....

Is dented canned food safe?

The majority of dents occur along the sides of the can and do not cause rupture or expose the contents to air and pathogens. Inspect cans on the grocery store shelf for dents, and you will find many, most of which are minor....

The dents to be careful of are the deeper ones, especially if their edges are creased, as this could rupture the seal. ...

The other danger zones are dents along the top or bottom rim or along the seam running down the side. These are places where cans are sealed during manufacturing and are vulnerable to penetration by a hard impact. ...

Signs of spoiled or contaminated canned food

When in doubt, you can detect possibly contaminated food if:...

You see a dent on the rim or the seam down the side.
The dent is deep, and one or more of its edges are creased.
You see liquid seeping from the dent, a rim, or the seam.
There is rust on the can, especially at the rim or seam.
The contents have an off-putting smell or appearance.

Home Improvements, Ownership,

What to Consider When Hiring a Pet Sitter

When you plan to be away from home for a period of time and don’t want to board your dog or cat, you can hire a pet sitter. What criteria should you follow? Can you trust someone new to care for your fur baby? Can you trust this person in your home?...

Trusting your beloved animal with a pet sitter

It’s an emotional decision to allow someone you don’t know to watch your pet while you are gone. If a trusted friend recommends the person, you may be reasonably comfortable with them. But if you hire a sitter through an agency or website, you want to feel that you can trust all parties involved....

Key criteria for hiring a pet sitter

Get referrals from friends and family. Consider online platforms such as Rover for candidate sourcing. Rover gives you choices for whichever type of care you desire: boarding, doggie day care, walking services, and pet sitters.
Select three possible candidates, then dive deeper into their qualifications. Do they have pet-sitter and care certifications? What are their plans for emergencies? Do they know emergency medical procedures? How often would they stop by if not staying full-time at your home? Do they have experience with your pet type and breed?
Talk to your sitter candidates by phone on these topics.
Ask for documented background checks. Get references and contact them.
Whittle your sitter choices down to one or two, and arrange for them to come to your home. Observe how they interact with your pet. Do they bond easily? Discuss any specific needs your pet may have, such as medications for aging or sick pets.
Review contracts and pricing to ensure you understand the terms and costs.

With due diligence, you can move forward with less trepidation about who will be taking care of your four-legged friend....

Home Improvements, Ownership,

Preventing a Frozen Pipes Disaster

When temperatures plunge, the risk of frozen pipes rises. How can you keep pipes from freezing in your home and what should you do if it happens? We’ve got this down cold!...

Vulnerable to winter’s onslaught

Pipes are at risk when the temperature falls below 20 degrees for more than a couple of days. Plumbing near the end of its lifespan are particularly vulnerable to freezing during winter blasts. Pipes in older homes are also more susceptible because these homes often have poorer insulation and drafty leaks around windows, doors and under sinks....

While frozen pipes are obviously more common in the northern United States, homes in southern states are also at risk during the inevitable cold snaps winter brings, which send southerners scrambling to the home improvement store where insulation supplies vanish quickly from shelves....

Giving plumbing a warm coat

Last-minute measures may prevent frozen pipes, but the better time to prepare for frigid temperatures is before they come. Exposed pipes that are not wrapped or are in a poorly insulated part of the house are most vulnerable. Target pipes in these most vulnerable places first: the attic, the basement, or exterior walls....

To protect exposed plumbing, foam insulation wraps that are split lengthwise are available at home improvement stores for less than a dollar per linear foot. Cut the wraps to length and tape them securely. Be sure to wrap and cap outside faucets with foam covers as well....

In the attic and basement, wrap the pipes as described, but also make sure you have plenty of insulation throughout the rafter spaces. If you don’t already have an insulated layer called a radiant barrier on the underside of your home’s roof decking, consider getting it. The barrier also keep your attic cooler in summer....

If you have an older home, examine windows, doors and under sinks for leaks, and caulk or replace seals where necessary....

Drip-drip beats gush-gush

Where the plumbing is in an outside wall, drip water from interior cold water faucets when icy temperatures arrive. You may not like watching water drip into the sink, but that cost is pennies compared to the thousands of dollars you’ll end up spending to repair damage from a burst pipe. Also open cabinet doors below sinks to allow warm air in. Set ceiling fans to spin in a clockwise direction and run them at a low speed to draw warm air down to floor level and inside opened cabinets. Keep room doors open so heat can circulate throughout the house....

In a chilled basement or garage, use a space heater if you can safely do so. Keep it well clear of any flammable material....

Keep your home’s thermostat set at least in the 60s, even at night. If you go out of town, don’t lower it below 55....

Thawing frozen pipes

If you turn on a tap on a cold morning and little or no water comes out, you may have a frozen pipe. To thaw it, first try turning on hot water to thaw the frozen spot. If that fails, turn the water off at the meter or main supply valve to limit any possible leak. Then apply a heating pad or warm towels fresh from the dryer to places where the freeze might be. Do not use high heat from a hair dryer, space heater or an open flame....

Call a plumber if you cannot thaw a pipe, if the pipe is inaccessible or if you have a leak....

Leak detection alarms alert you when water starts leaking, before major damage can be done. Place them under sinks, in the attic and basement, and near the water heater. These alarms are inexpensive but could catch a leak early and prevent costly damage....

Buying a Home, Financing a Home,

Should You Wait Until Interest Rates Drop to Buy a House?

Today’s mortgage interest rates are a good bit higher than those of a few years ago, and that’s keeping many buyers on the sidelines, waiting for a better rate. Should you wait until interest rates drop to buy a house? Experts generally say no. Here’s what you need to consider....

No crystal ball of interest rates

Unfortunately, no one can predict what interest rates will likely do over the next few years. Although rates were 2 to 3 percent just a few years ago, historically, rates have generally been higher than today’s current rates. It’s possible that if you wait a year or two to buy, interest rates may be even higher than they are today. So, experts say that as long as the home you pick is within your budget, the possibility of a lower rate in the future is not a sufficient reason to delay your purchase....

Why are you buying?

Homebuyers are in the market for many reasons. Perhaps they are first-time buyers who are ready to stop renting and start building equity. Or they may be young parents who don’t have room for another child in their current home. They may be retired empty-nesters who are ready to downsize and/or move closer to children and grandchildren. Whatever the reason, people shopping for a home have a need they want to fill. ...

If you find a home that meets that need, you could lose it if you wait for a better interest rate. There’s a saying in the real estate industry: “Date the rate and marry the home.” If you find your dream home and choose to finance it at today’s higher rates, you can always refinance if rates drop in the future....

Keep rising prices in mind

Though there’s been some variability, housing prices have mostly skyrocketed in recent years. Today’s low housing inventory makes it likely prices will continue to leap. It’s possible you’ll be priced out of the market by the time interest rates drop (if they do)....

Other considerations

Delaying a home purchase to wait for a better interest rate keeps you from reaping two benefits of home ownership: tax benefits and the chance to build equity. The sooner you buy, the sooner you can take advantage of these factors....

Buying, Finding a Home,

Can You Park There? The Truth About Street Parking

Every neighborhood has dilemmas at some point, and street parking is one of the most common. A household with multiple cars may not have sufficient space in the garage or driveway, resulting in vehicles left on the street. If street parking is prohibited, sparks can fly. Is there a solution?...

Who makes the rules about street parking?

Traffic and parking rules in subdivisions are typically established by one or two entities: governmental law, as well as the neighborhood homeowners’ association (HOA), if one exists. ...

The government sets laws on speed limits, stop signs, and school zones. It can also prohibit street parking if the fire marshal designates the sides of the streets as fire lanes, with red striping along each side. Police and sheriffs’ deputies enforce these laws with citations and fines....

Police do not enforce HOA parking rules. If there is an HOA in your neighborhood, a second layer of rules applies. And, you guessed it, the most common HOA traffic rule is a restriction on street parking. Even if there is no fire lane designation, if the HOA covenants and restrictions prohibit street parking, the rules are enforceable through warnings and then penalties applied to the errant homeowner’s dues. Homeowners are responsible for ensuring that guests also park in accordance with the regulations....

HOAs set these restrictions to prevent neighborhood streets from becoming cluttered with parked cars, thereby limiting driving space. Some HOAs even limit the number of vehicles that can be parked in a driveway and may require keeping the garage free of clutter so that cars can be parked inside. Homeowners may find it onerous, but the HOA’s purpose is to safeguard the neighborhood’s appearance and uphold home valuations. ...

Some HOAs issue parking permit stickers to homeowners and temporary permits to guests. Some neighborhoods also offer guest parking spaces. ...

Public versus private streets

In any gated neighborhood, the streets are privately owned by the collective homeowners. This means the public cannot drive the streets at will and must have a gate code for entry. Such streets sometimes are narrower than public streets by as much as 5 feet. In such communities, street parking is likely not allowed, as it would further congest the already narrow streets....

What happens if you park on the street where it’s not allowed?

If you park on the street in violation of the municipal code, a police officer may issue you a citation, and your car may be towed. It is a violation of the law to block intersections, driveways, mailboxes, fire hydrants, and crosswalks. If someone parks in a way that blocks any of these, law enforcement may be contacted to address the violation. ...

Suppose you park illegally in the street and an emergency arises. In that case, a fire truck or other first responder vehicle can lawfully push your car out of the way, if needed, without legal liability for any damages to your vehicle....

If there are no government or HOA restrictions on street parking, someone can park on the street in front of your house without violating any laws. ...

Over major holidays, when you may have family guests, you can get a temporary waiver if you request it from the HOA in advance. Alternatively, the HOA board may permit you to temporarily exceed driveway limitations, but not street parking restrictions....

Ownership, Shopping Guides,

Let’s Go Shopping for a Home Generator

During a power disruption, a home generator can alleviate inconvenience and, in some cases, be lifesaving. How do you shop for and choose a home generator?...

Types of home generator systems

There are a handful of home generator types to choose from, depending on your needs:...

If you want the top-of-the-line in home power generation, the home standby generator offers seamless operation the moment your power goes out. Hardwired into your home’s electrical system, a sensor detects the loss of power from the utility line and automatically kicks on the whole-house generator. A licensed professional must install a home standby generator system to ensure it complies with safety, noise ordinance, and other regulations.
Portable generators are typically chosen when you don’t want the expense or need a whole-home system. You would select a few key appliances to power during an extended power failure, such as the refrigerator to prevent food spoilage, portable heaters or air-conditioners, and perhaps the washer and dryer.
Inverter generators adjust speed based on the load placed on them. They also run quieter.
Solar generators are virtually silent. They are a battery with a solar panel to keep the battery charged. That battery then powers your small devices, such as laptops and cell phones.

Fuel usage

Generators need a fuel source to generate power. Your choices are:...

Gasoline-powered generators entail keeping cans of gasoline on hand. Since it will sit unused for extended periods, you must add fuel stabilizer to the gas and start the generator once per month, letting it run for 5 to 10 minutes.
Natural gas is safer and requires a natural gas supply line to be plumbed into the generator.
Propane gas canisters hook up like a gas grill. Propane produces less power than gasoline or natural gas.
Dual-fuel generators have a switch that allows the user to opt between gasoline and natural or propane gas.

How much can you power?

Select a generator based on its total wattage, then calculate the total wattage required to operate the selected appliances. For example, you may consider a 9,500-watt generator to power a refrigerator (1,000 watts), a washing machine (1,200 watts), and a window air-conditioner (1,200 watts). Just those appliances add up to 3,400 watts, leaving room to power a few more smaller appliances. ...

Keep in mind that using a portable generator involves using extension cords to run from the appliances to the generator. You would run individual cords from each device to the generator. Never plug several devices into a power strip on a single extension cord. Clearly, this is a temporary situation. If you anticipate longer-term blackouts, a home standby generator is preferable....

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....

Home Energy, Ownership,

The Heat Pump, an HVAC Miracle Worker

Today’s air-conditioning and heating systems are light-years ahead of units produced a generation ago, and leading the advancement is the amazing heat pump. The largest energy user in your home has seen significant technological advancements that can save you money. Here’s why you should consider a heat pump system for your newly constructed home or when you’re retrofitting an existing home....

Traditional versus heat pump systems

Old-style heaters generate heat from gas jets that burn inside a chamber called a heat exchanger; a blower then circulates air over the metal chamber, transferring the heat into the home. Electric heaters use heated coils instead of gas jets. A third, more antiquated method uses gas or electricity to heat water in a boiler, sending hot steam to radiators located throughout the house....

Air-conditioning works by extracting hot air from inside the house, processing it through a compressor-condenser system, then circulating it over coils filled with refrigerant, where it is cooled and blown throughout the home. ...

Engineers realized that the same process that converts hot air to cool air in the air-conditioning system could be operated in reverse to extract residual heat from cold outdoor air in winter and transfer it into the home. Now, instead of a house having separate systems, one for heating and one for cooling, the same system handles both....

Leveraging energy usage

Because a heat pump handles both heating and cooling and does not generate heat via burners or coils, it is vastly more energy-efficient than traditional systems. The heat pump generates heat from thin air, not by burning gas or oil or using electrical heating coils. ...

How efficient are heat pumps? Even the best traditional HVAC system operates at a peak efficiency of 95%, meaning that for every 100 energy units expended, you get 95 units of heat or cooling back in the treated air. Because a heat pump reverses the temperature of existing air, it achieves an astounding 300%-500% efficiency. A heat pump delivers three to five times as much energy as it consumes. ...

How much do heat pumps cost?

Installing a system in new home construction is comparable to a traditional system, costing $4,000 to $15,000, depending on the area to be treated. Some high-tech systems can run up to $25,000. ...

The cost of retrofitting an existing home may be higher due to labor to remove the existing system and install the new heat pump....

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