Marion Cheney - RE/MAX On The Move/Exeter | Dover, NH Realty, Rochester, NH Realty


Many new homeowners are eager to begin renovations on their home to make it fit the beautiful picture they have in their mind. Unfortunately the aesthetic improvements, while important, are often prioritized over important structural and functional repairs that should be made first. The key to making smart financial decisions for renovating your home is to have a good budget and to stick to it. Home improvements are one of the few expenses that people often forget to budget for, alongside car repairs and emergency medical expenses. If done properly, however, a budget will help you prioritize your repairs so you'll spend your time and money wisely. In this article, we'll explain how to budget for home repairs in a way that works for you and your family.

Understanding your money

To budget for home improvements, you first need to budget for other things in your life. Use an app or website like Mint or You Need a Budget to get a better understanding of how you spend your money. For some, budgeting for home improvements may mean cutting back on other spending areas. Fortunately, these apps break down all of your purchases by categories and help you spend less each month.

Ranking your renovations

If you're dying to update the bathroom but the roof needs to be redone, you should call the roofers first. Some home improvements are a ticking time bomb: deteriorating roofs, poor insulation, HVAC issues, water damage, and safety concerns like fire hazards are all problems that need to be addressed first on your budget. Some will save you money, others could save your life, but all of them are more important than adding closet space in your bathroom.

Estimating costs

Do your research when it comes to the the cost of repairs and home improvements. Once you have a ballpark figure, add it into your budgeting app as a new item on your budget. There is a general rule, when budgeting for home repairs, that you should set aside 1% of the cost of your home for maintenance and repairs each year. However, there are many other factors involved in how much it will cost to upkeep your home like the age of the house, the weather in your area, and how well-maintained the home was before you bought it.

Sticking to your budget

Everyone starts with good intentions, but keeping a budget isn't easy. Thankfully, it has been made much more manageable with the help of apps and websites that link right to your bank accounts. To stick to your home repair budget, make sure you sign up for reminders on your spending and progress. If you're keeping a budget the old fashioned way (pen and paper), put reminders on your calendar each month to check if you're spending too much on home repairs. Another key to successful budgeting it to make sure everyone in the house is on the same page. If your significant other plays a role in home repairs, go over your budget together. This will help you keep one another accountable and set priorities that work for everyone.

Saving money is never an easy task. And saving money for a down payment on a home is especially difficult. Between trying to pay down debt, whether it is student loan or credit card debt, a car loan, insurance, rent, spending money and trying to save for retirement and your emergency fund, how does that leave any money left to save for a down payment? Let’s take a look at a few smart ways to save for a down payment. First things first: how much you are able to spend? This will determine how much you need to save— 20% of the total home cost. Once you have that figured out you can begin to plan what it will take to save that amount. It should be your goal to save 20% or more, although there are ways around that number. Cut expenses: Cutting expenses is one of the ways to start saving more money. First, take a look at the things that you spend money on each month that you don’t necessarily need. Do you buy groceries and then go out to eat 3 or 4 times week? Cutting down to only going out once a week will save you some big bucks at the end of the year. Can you cut down on any of your utilities such as cable and Internet? What about your rent? Could you get roommates to alleviate the cost of rent or move to a lower cost apartment? Invest: Investing your money, smartly, is the quickest way to increase your money and build your down payment amount. Investing, in general, will not make you crazy amounts of money really quickly (unless you’re one of the lucky few) but it does add up faster than money sitting in your savings account or under your bed. Consider opening up a CD, an IRA account (there are restrictions), or investing in the stock market. It will take a couple of years for this to really build, but the returns will be worth the wait. Be sure to read up on the best option for you and keep an eye on the market if you are planning on investing in an IRA account or stocks. Automate Savings: If you have the funds but just aren’t the best saver then the easiest way to save more money is to automate it, either through your work or bank. Automating your savings will make it seem like that money was never there, therefore making it easier to forget about it and keep it in savings. You’d be surprised how quickly your money can add up. Additional Income: If you really want to speed up reaching your savings goal then you may want to consider adding another source of income. There are so many ways to earn more money such as selling your crafts online, blogging, a second job, etc. Saving all of the money you earn will expedite your savings. There are also other sources of income such as a bonus, or tax return that are not a part of your regular income. These types of income should also be saved towards your down payment to reach your goal sooner. If purchasing a home is of utmost importance to you, but you are lacking the down payment then it is extremely important to make saving a priority. As detailed above, there are many ways in which you can accelerate the process of earning and saving more money.

“The silent killer.” It’s a perplexing name for a common household hazard. We’ve all heard of the dangers of carbon monoxide, but few of us are taught exactly what causes CO poisoning.

Understanding the causes of CO poisoning are essential in reducing the risk that you or your family could be harmed by this poisonous gas. So, in this article we’ll break down what exactly it is that carbon monoxide does to the body, where it can occur in the home, and how to protect yourself against it.

What is carbon monoxide?

Carbon monoxide is a tasteless, odorless, colorless, and poisonous gas. Because it is so dangerous to humans, fuels that emit carbon monoxide are usually mixed with other gases that do have an odor. This way, humans can typically smell gas and therefore be alerted that they are in danger.

What does CO do to the body?

When inhaled, carbon monoxide inhibits your body’s ability to use oxygen. So, even though you are breathing in air, your body is still suffocating. As a result, the lack of oxygen caused by carbon monoxide poisoning can lead to death the same way that drowning does.

High levels of CO in the air can cause you to succumb within minutes. Your chest will tighten, you’ll feel dizzy or drowsy and could suffocate if you don’t get away from the area.

However, lower levels of CO exposure can also be dangerous. People often notice headaches, slight dizziness and muscle fatigue and mistake the symptoms for the flu.

People who are asleep can die from carbon monoxide poisoning without ever experiencing symptoms.

Where is CO found within the home?

Since carbon monoxide occurs from unburned fuels leaking in the air, there are a number of sources within and outside the home that emit carbon monoxide.

According to the American Lung Association, some common sources of carbon monoxide include:

  • Gas appliances (furnaces, ranges, ovens, water heaters, clothes dryers, etc.)

  • Fireplaces, wood stoves

  • Coal or oil furnaces

  • Space heaters or oil or kerosene heaters

  • Charcoal grills, camp stoves

  • Gas-powered lawn mowers and power tools

  • Automobile exhaust fumes

How to protect yourself from carbon monoxide poisoning

Luckily there are several ways to protect yourself from carbon monoxide poisoning. Knowing what causes it is the first and most important way. Preventing gas leaks in appliances and maintaining proper upkeep of those appliances is one important way.

Another tip to keep in mind is to make sure your home is well ventilated. If cooking for a long period of time, don’t leave gas ranges unattended. If the knobs on your range are easily turned, make sure children and pets aren’t left alone near the oven.

Never use items like kerosene lanterns, portable camping stoves, burning charcoal, or running engines inside your home or garage. Lack of ventilation can easily cause CO levels to rise to a dangerous level within minutes.

Common mistakes involving carbon monoxide include running lawnmowers or other gas-powered items inside a garage, or leaving a car running in a garage.

Finally, install a carbon monoxide detector in your house and garage. Change the batteries regularly and test the alarm often. If you smell gas in your home and can’t identify the source immediately, open the windows and leave the house.


This Single-Family in Dover, NH recently sold for $459,405. This Colonial style home was sold by Marion Cheney - RE/MAX On The Move/Exeter.


Lot 22 Emerald Lane, Dover, NH 03820

Single-Family

$459,405
Price
$459,405
Sale Price

4
Bedrooms
7
Rooms
2/1
Full/Half Baths
The Abigail Jane. A generous floor plan on a private site in Dovers newest neighborhood. Indian Ridge.




Securing the best mortgage for your home may seem challenging, particularly for those who are first-time homebuyers. Fortunately, we're here to help you get the best possible mortgage rate, regardless of the real estate market. Here are three tips that you can use to get the best mortgage rate at any time: 1. Find Ways to Improve Your Credit Score. Your credit score likely will influence your mortgage rate. However, those who track their credit score closely can improve this score over an extended period of time. That way, when the time comes to secure a mortgage for a new home, you'll be in great position to get the best mortgage rate possible. Try to check your credit score regularly. You can do so quickly and easily, as you're entitled to one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies (Equifax, Experian and Trans Union). To improve your credit score, focus on paying off any outstanding debt. This will help you enhance your credit score without delay. 2. Take Advantage of a Shorter-Term Mortgage. Although you may consider a variety of mortgage options, a shorter-term mortgage may allow you to pay a lower mortgage rate for a shorter period of time. Remember, just because you choose a 15-year mortgage over a 30-year mortgage does not mean you will wind up paying twice as much for your mortgage payment each month. For example, selecting a 15-year fixed-rate mortgage over a 30-year fixed-rate mortgage may prove to be a viable option for many homebuyers. A 15-year fixed-rate mortgage will have higher principal and interest totals than a 30-year counterpart, while the insurance and tax fees associated with both types of mortgages will remain the same. 3. Look at All of the Lending Options That Are Available. It sometimes can be overwhelming to look at all of the banks, credit unions and other lending options that provide mortgage assistance. Diligent homebuyers, however, will dedicate the time and resources necessary to explore all of the lending options at their disposal to make an informed decision. Ideally, you should try to get multiple quotes from a variety of lenders. This will enable you to see exactly what each lender has to offer and improve your chances of making the best decision possible. Lastly, don't forget to lock in your mortgage rate in writing. By doing so, you'll be able to verify you have the mortgage rate you like and the loan you need to secure your dream home. Understanding the ins and outs of landing the ideal mortgage rate can be difficult. And if you ever have concerns or questions along the way, your real estate agent may be able to point you in the right direction as well. Because this agent boasts comprehensive real estate sector experience, he or she may be able to provide guidance and tips to ensure that you can find a reliable lender and land a great mortgage rate. Find a mortgage rate that works for you, and you may be able to save money over the life of your mortgage.



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