How to Make your Home Look Expensive on a Budget

You want your home to look luxe, but your bank account has other ideas, know that

you don't have to spend a lot to make it look like you did.

Splurge on Focal Pieces. You may not be able to break the bank on every item in your

home, but consider splurging on attention-grabbing pieces.

Layer Rugs. Rugs are a cost-effective way to add warmth and style to a room. To create

a custom look, layer rugs beneath a furniture grouping.

Employ Trim. There's no way around it. Wainscoting, crown moldings and other types

of custom millwork make a home look elegant.

Use Paint to Your Advantage. Not only is paint affordable, but it is transformative.

Simply painting walls a sophisticated color will achieve the high-end look you desire.

Paint can also transform thrift-store furniture and decor. With many types of paint readily

available, you can easily alter textures within your design scheme. Use chalk paint to

distress a vintage table or a metallic spray paint to refresh picture frames.

Paint Front Doors. Set the tone from the moment a guest arrives at your house. Paint your

front door a color that complements your home’s interior. The door's color will anchor your

home while adding drama and style to your entryway.

Opt for Luxury Vinyl Plank Flooring. Love the look of hardwood, but can't afford the

price tag? Luxury vinyl plank flooring is an affordable alternative. You can probably install it

yourself, which means you don't have to pay labor costs.

Fake It 'til You Make It. Expensive homes often have soaring ceilings. Your home's ceilings

may be decidedly lower, but you can make them look higher. Just hang your curtains closer

to the ceiling than the window frame. This creates an optical illusion that makes the room

seem taller.

Embrace Your Artistic Side. Large artwork is a great way to set your home apart, but it's

usually pricey. Try to make it yourself. Simply buy a huge, white canvas and create a masterpiece.

Display your art prominently in your home. When friends ask about it, just tell them you had

the piece commissioned by an up-and-coming artist!

 

Making your home look like a million bucks doesn't have to cost a fortune. You can achieve

a high-end look for less using some creativity and these tips.

For more ideas go to https://homesalesneworleans.gardnerrealtors.com/

How to know if this house is right for you

Buying a house can be a daunting task, and the fear of buyer's remorse can cause serious anxiety.

How do I know this house is right for me?  Here are some things you'll want to consider before making

that decision:

Can I afford it?

Nothing is more disappointing than finding your dream home just to be told by the mortgage company

that it's out of your price range. Before venturing into the real estate market, meet with a mortgage

broker or bank representative to obtain an accurate number for purchase. This will help you to avoid

heartache and allow you to consider real options versus something that's not feasible because of

your budget.

Does this house meet my must-haves?

Make a list of your must-haves. Features such as number of bedrooms and bathrooms should be high

on that list.

Things such as walk-in closets, an ensuite might be negotiable; however, if you're unwilling to

compromise on certain amenities, be sure to only look at properties that offer them.

Is this property in the right area?

Narrowing down where you want to live is crucial. Are there parks? Trails? Do I add time to my commute?

Am I near amenities important to me and my family? Questions like these will help determine if you're

looking in the area that will best suit your needs.

Is this house right for my future?

For young couples, single buyers and small families especially, it's vital to ask yourself if this is a home

you can grow into. What is your plan? Do you want to start a family here? If your answer is yes, then

the number of bedrooms and bathrooms, as well as separate living space, are all things to take note of.

  

 You can feel it.

Trust your gut when something feels off about a house. You'll know a house is right for you and your

future by the feelings you have while looking at it, walking through it and when it comes time to move in.

If you're trying to convince yourself a house will work or that you love it, chances are it won't and you

don't. At the end of the day, trusting your instincts will guide you to the perfect house while helping

you avoid the ones that aren't.

To search for homes go to https://homesalesneworleans.gardnerrealtors.com/

3 Reasons Americans Count on Their Homes After Retirement

Retirees who own their homes outright are often at an advantage over their renting—

and retired—counterparts. There are two reasons for this: their housing costs are generally

lower, and they have access to safety-net cash in the form of home equity.

However, all homeownership is not created equal. For example, if you move often, owning

a home outright by age 62 can be challenging.

 

Since the big goal for retirement is to eliminate as many expenses as possible, erasing

a monthly housing payment is optimal. Having a long-term financial plan, including what

homeownership looks like in retirement, is extremely important. Renters who plan on

staying in the same general area for years to come should consider buying.

1. Benefit of eliminating monthly payments:

The twin bridesmaids of finances are income and expenses. When people retire, the money

coming in usually shrinks, which means so should the money going out. A mortgage payment

is one expense soon-to-be retirees should try to get rid of. If you can be mortgage-free by the

time you reach retirement, you'll be in a good position.

Mortgage-free retirees can save hundreds or thousands of dollars each month. Even with

property insurance, and taxes, the cost of owning a home is often less than renting.

Not only can retirees save on their housing costs; they can also make money on their homes.

Retirees who travel can earn money while they're on vacation through sites like Airbnb.

Another option to get extra cash flow is to rent a room. Downsizing can also save you money.

Going from a large family home to a cozy condo or smaller house can reduce utility costs as

well as allow you to cash out some equity in your home to fatten your nest egg. For people

not ready to sell, there are other options that allow you to tap the equity while keeping the house.

2. Benefit of having access to home equity, if needed.

There are several ways homeowners can tap the equity in their home without putting up

a for-sale sign; two of the most common ways are a cash-out refinance and a home

equity line of credit, or HELOC.

Equity-rich homeowners who want to lower their mortgage interest rate might consider

a cash-out refinance.  

A cash-out refinance is almost like selling your house to yourself. The bank would cut you

a check for the equity, which is the difference between what you owe on the house and

the market value. If your home is worth $200,000 and you owe $100,000, then you have

$100,000 of equity in the home.

Banks usually limit the amount you get to 80 percent of the total equity. That means with

$100,000 in equity, the bank might give you $80,000. The amount you qualify for is usually

based on income, credit score and other determining factors.

Now comes the tricky part: When you do a cash-out refinance, you'll get a new mortgage.

If your interest rate is high because of poor credit or market conditions and you think you

have a chance of getting a lower interest rate with a new mortgage, then a cash-out refinance

might be an appealing way to access your equity; however, if your mortgage interest rate

increases with a new mortgage, then you should consider other options, such as a HELOC.

Something else to keep in mind is the fact that a new mortgage usually means going back

to square one if you choose a longer term. If your house is a few years away from being

paid off, restarting the clock is probably not a good financial move.

3. Even with a mortgage, there are  liquidity options.

For people who want to keep their homes and existing mortgages while tapping their

home equity, one alternative is a HELOC.

The benefits of HELOCs are that you only pay on what you use and the interest is tax-deductible

if you use it to repair or upgrade your home. For retirees who want to retrofit their homes to

make life easier, such as installing stair lifts, grab bars and handrails, a HELOC could be a good

way to fund those upgrades and get a tax break. It is important to remember that once you use

that equity, it will likely take years and even decades to rebuild it.

The dual benefits of lowering your living expenses and having access to cash in emergencies

are great reasons to sail into retirement without a home loan springing a leak in your budget.

For more information go to https://homesalesneworleans.gardnerrealtors.com/