Sunrise Homes & Renovations, Inc.

The Top Ways To Winter Proof A Home

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The Top Ways To Winter Proof A Home

As the temperature continues to drop outside, many people are worried about what is going to happen to their heating bills. Given the challenging economic year, nobody wants to pay more than they have to. On the other hand, there are ways that people can keep their heating bills as low as possible as long as they take steps to winter-proof their homes now. 

Prevent Drafts Under The Doors And Windows

One of the most common reasons why people end up using more heat than they should is that they are losing heat to the external environment. Often, this heat flows through gaps between windows and doors. Therefore, everyone has to make sure their windows and doors are closed when they are not using them. Then, consider adding stopgaps between doors and windows to prevent heat from exiting the home. If the windows are unlikely to be opened during the winter, then it might be a smart idea to seal them. 

Add Insulation To Hot Water Pipes And Tanks

Many people do not realize just how much heat they use keeping their water hot in their homes. It is a great idea for homeowners to add insulation to hot water tanks and pipes. By adding some simple insulation, the hot water heater is not going to have to work as hard to get hot water up to the right temperature. This can save homeowners a significant amount of money on their heating bills. 

Use A Smart Thermostat

Many homeowners run their heater when they do not have to. For example, they might run their heater when they are at work or asleep. This is unnecessary. By using a smart thermostat, everyone can set up a schedule for their heater. That way, their heater will shut off when the home does not have to be warmed to a specific temperature. At the same time, remember to warm the house to at least 55 degrees Fahrenheit at all times to prevent water from freezing in the pipes. 

Save Money On Heating Bills This Winter

These are a few of the top ways that homeowners can save money on their heating bills this winter without having to sacrifice their comfort.

 

Is Home Insurance Required When You Buy A House?

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Is Home Insurance Required When You Buy A House?For those who are thinking about buying a house in the near future, they are probably in the process of tabulating up all of their expenses. One of the common expenses is home insurance. Even though home insurance is certainly recommended, is it actually required? There are many situations where it is required. At the same time, even when it is not required, it is still a good idea. When it comes to homeowners’ insurance, there are a few important points to keep in mind. 

Why Home Insurance Is Required By A Lender

For those who are taking out a mortgage to purchase a home, most lenders are going to require home insurance. This is because the lender wants to make sure that they are going to get their money back. Remember that the lender is taking a significant amount of risk as well. They want to make sure that they are going to get repaid for their loan. If something happens to the house and there is no home insurance policy, then they are going to lose a significant amount of money. Therefore, for those who are working with a lender, home insurance is probably going to be required. 

Buying A Home Without A Lender

In some situations, people could be looking at buying a home without the help of a lender. Those who are purchasing a home in cash are not going to have anyone telling them that they need to get home insurance. At the same time, it is still a good idea. For most people, the most valuable investment they own is their house. They want to make sure it is protected. After all, people protect their cars with car insurance. Cars usually cost a fraction of the price of a home. Therefore, it doesn’t make sense to go without home insurance.

Get The Right Home Insurance Policy

It is important for people to make sure they get the right home insurance policy. The home insurance policy has to cover situations where a home could be completely destroyed. This includes fires, floods, severe storms, and even situations involving burglary. Compare a few options and make sure to get the right home insurance policy.

 

What’s Your Home’s Real Value?

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What's Your Home's Real Value?As a society, it seems like we’ve gotten away from appreciating our homes for their emotional and sentimental worth. Instead, we focus solely on their monetary value. 

An Appraiser Can Estimate A Home’s Monetary Value, But To Gain A True Concept Of Your Home’s Worth, You Must Also Take Into Consideration:

  1. Pride Of Ownership. You don’t buy a pair of Prada shoes because you’re going to be able to resell them and make a profit. You buy them because they make you look good and feel good.
  2. Security And Stability.Your home provides a roof over your head that’s in your control. You can decorate it how you want. You don’t have to worry about a landlord selling the property or asking you to move out. In the “olden days” (or should I say “golden days”), we called our homes our castles because, as owners, we felt like the kings and queens of our homes. You can still feel that way! Claim your castle and crown yourself king or queen today.
  3. A Safe Haven.After a tough day at work or a day of disappointments, where’s the first place you think of going?  Home! As Dorothy says, “There’s no place like home.”
  4. A Place To Make Memories.  Your son’s tree house and daughter’s playhouse. The markings on the wall that tracked your children’s growth. The porch swing where you start and end every anniversary celebration.    
  5. A Neighborhood Full Of Friends. In the event of an emergency, your neighbors are your first line of defense. They’re also the simplest, best and least expensive form of security. Additionally, they may have the exact tool you need for a project; the extra pair of hands you need to complete a project or children to become playmates with yours. Neighbors also give you that much needed in-person, up-close social network.

Even if your home’s economic value has dropped, you continue to benefit from its emotional values of community, stability, security and success.

Thinking of buying a home? I can help you evaluate the emotional and monetary worth of homes and find a home that fits your values and lifestyle. Give your trusted real estate professional a call today.

The Top House Appraisal Tips For Home Buyers And Sellers

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There are a lot of steps that come with buying or selling a home. One of the routine steps that have to be accomplished is called a home appraisal. When it comes to a home appraisal, this is something that can cause both buyers and sellers to pause for a second. For those who might not know, a house appraisal is where a trained professional will take a look at the fair market value of the home. It is important to understand what happens when a home appraisal is conducted. 

Compare The Home To Similar Properties

When a home appraisal is conducted, its value is usually compared to homes in the area that are similar. The value of a home is always determined by what similar homes in the area have sold for recently. This is what the lender is going to look for. For example, if someone is selling a condo, and the value of that condo is going to be compared to other condos in the building that have sold recently. Even though there might not be identical houses in the area, the same process is going to happen for free-standing homes. 

Make Improvements To The Home

For those who are going to be selling their home in the near future, one of the easiest ways to drive up the value of the home is to make improvements. If the countertops, floors, or cabinets have not been updated recently, then performing these updates can drive up the value of a home. In some cases, homeowners might be able to get a bigger increase in the value of their home than the amount of money they spent on the improvements. 

Get A Second Appraisal

In some cases, home buyers might not like the appraisal that came in on the home. In this case, they might be able to challenge this first appraisal by getting a second appraisal. Even though this might cost a bit of money, if the home comes back at a significantly reduced cost, then there might be opportunities for the buyer to renegotiate the price of the home. Everyone wants to make sure they are getting a fair deal when a home changes hands.

 

The Top Questions Everyone Should Ask Before Renovating A Home

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The Top Questions Everyone Should Ask Before Renovating A HomeThere are a lot of people who are looking to improve the home in which they live. One of the top ways to do this is to renovate the building; however, it is also important for everyone to make sure they know exactly what they are doing before they get started. There are several questions that everyone should ask before they start a home renovation project.

Is The Home Worth Renovating?

One of the top reasons why people renovate a home is that they think this is going to increase the value of the home. While this is certainly possible, everyone has to run the numbers and make sure they are either going to recoup their investment when they sell the home or that they are going to be in the home for a long time before they sell it. If the home is worth renovating, then it is fine to proceed.

What Is The Budget On The Renovation Project?

Next, it is also important for everyone to know what the budget is one the renovation project. Remember that there are always going to be expenses that are not foreseen, so be sure to include some room at the top in case the contractors come asking for a budget increase. They almost always do.

What Are The Offers On The Home Renovation Project?

Finally, it is also important to collect multiple offers. Talk to designers, contractors, and architects. Collect a few referrals. Then, talk to all of these individuals and see how much money it is going to cost to complete the project. This is one of the top ways that everyone is able to save money on their home renovation projects and make sure they get exactly what they asked for when the project started.

Answer These Questions Before Starting A Home Renovation Project

By planning ahead of time, everyone is able to plan accordingly, making sure they know what they are doing before the project gets started. When homeowners take the time to plan a home renovation project, they increase the chances of the project being a success. This includes not only an aesthetically pleasing project but a wise financial investment as well.

Buying A New Car Impacts The Ability To Buy A New Home

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Buying A New Car Impacts The Ability To Buy A New HomeThose who are in the process of buying a new home need to be aware of some of the factors that might influence their ability to do so. Even though credit score, income, and assets will play major roles in whether or not someone might be approved for a loan, there are other factors that will play a role as well.

Buying a new car might even have an impact on the homebuying process.

Why is this the case?

The Debt Payments On The Car Will Play A Role

There are multiple ways to buy a car. Some people elect to pay cash for the entire vehicle. While this is a challenge for most families, this will prevent any new debt from being added to the family’s finances. At the same time, this could also reduce the amount of cash the family has on hand to put toward the new home.

Most families end up putting a down payment on a car and taking out a loan for the rest. While this is a financially responsible decision, this can also make it harder to purchase a new home. This is because the payments on the car are going to be added to the family’s existing debt. A potential lender is going to see these debt payments and reduce the amount of money they are willing to provide. This could make it hard for a family to purchase their dream home.

Factor In The Cost Of The Car

Those who need a new car need to factor the monthly cost of the car into the home buying equation. For example, if the monthly payments on the car are going to be $200, then this is $200 less that the family can afford for the mortgage payment. The same math has to be done by removing the down payment for the car from the potential down payment on the house.

Do The Math Carefully

People need cars to get around in most parts of the country. At the same time, the financially responsible decision is to take the cost of the car and deduct this from the assets that are available to pay for the home to avoid any surprises. The lender is going to do the same thing.