If you own a home, chances are good that you have heard the term “home equity loan” bandied about on occasion. Perhaps you’ve seen it in advertisements, or maybe taking out such a loan has been suggested to you as a means of paying for large expenses, such repairs or renovations to your home or college tuition for a loved one. So just what is a home equity loan and how does one work?

A home equity loan is a type of loan that allows homeowners to borrow against the equity they have built up in their homes. So, what exactly is home equity and how is it built up?

Home equity is the share of your home that you own, free and clear. Basically, it is the current market value of your home, minus what you still owe on the mortgage loan you used to purchase it. You build equity in your home as you make payments on that mortgage, your equity increasing as the balance remaining on your loan decreases. Increases in the market value of your home over time also help build your home equity.

Home equity is often referred to as “forced savings”, since accumulated equity is accumulated wealth, but that wealth is not readily accessible. You can, of course, access that savings by selling your home, but home equity loans offer a means of cashing in on your home equity without taking that step.

How Home Equity Loans Work

Home equity loans are mortgage loans, commonly called second mortgages, in which a homeowner’s equity in a home is used as collateral. That means that they are secured loans, much like traditional mortgages, and as with those traditional mortgages, your home is on the line should you fail to repay the loan amount as agreed. There are two basic types of home equity loans that are common today, traditional, lump-sum home equity loans and home equity lines of credit.

Traditional Home Equity Loans

These home equity loans allow you to borrow a set amount against your home equity, which is provided to you as a lump sum. You then would pay that loan back – with interest, of course – via a fixed monthly payment. These types of loans are most often given for shorter terms than a typical first mortgage, generally ranging from 5 to 15 years.

The amount you can borrow will depend on several factors, including your credit history, your income, the market value of your home and the amount of home equity you have accumulated. Most lenders will limit the amount you can borrow to no more than 80 to 85 percent of your home’s value. If you still owe on an existing mortgage, that outstanding amount will be factored into your borrowing limit, reducing the total amount you can borrow via the home equity loan.

Home Equity Lines of Credit (HELOC’s)

These home equity loans work a little differently, providing a revolving credit account, rather like a credit card. Borrowers are preapproved to borrow a certain amount against their home equity. That preapproved amount is rather like a credit limit on your credit card. You can use as little or as much of that amount as you need to, so long as you do not go over your limit.

Like traditional home equity loans, HELOC loans are given for a fixed term. Typically, there is a draw period, during which you can make interest-only payments, then an additional repayment period during which you will be responsible for paying off the principle (the amount you borrowed) along with the interest. Interest rates are variable with most HELOC loans, which means they may fluctuate according to market conditions during the life of your loan.

Home Equity Loans: The Pros and Cons

The pros of home equity loans include the ability to leverage your home equity for needed cash for uses like making home improvements, paying for college or consolidating debts. They generally come with lower interest rates than unsecured loans, like credit cards or personal loans, and can be easier to qualify for with less than stellar credit, since these loans are secured with your home. If the loan is used to make substantial improvements to your home, you may be able to deduct a portion of the interest from your taxes.

Potential drawbacks of home equity loans include the closing costs and other fees that can be involved with securing these loans, which can cost thousands of dollars. The fees and costs vary between lenders, so shopping around can help minimize these costs. Then, there is the fact that the loan is secured with your home as collateral. This means that if you run into financial trouble during the term of your loan and fail to make payments as promised, your home equity lender can foreclose on your home, taking possession of your property and selling it to recover the loan amount. Additionally, should you decide to sell your home before the end of the loan term, the amount you still owe on your home equity loan must be paid in full when the home is sold.

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Knowing what your home is worth can be important for many reasons. Clearly, if you are planning to put your home on the market or are in the process of buying a new home, knowing its value is essential to either process. You’ll need a clear idea of the value of your home should you decide to refinance a mortgage or take advantage of a home equity loan. Homeowners insurance and property taxes are also based on the value of your home, so finding the answer to the question “What is my home worth?” is paramount.

For the average person to know the worth of their house greatly increases the likelihood of them receiving fair treatment. There are several ways to get the answers you need, which we’ll outline here.

Use Online Valuation Tools

These tools can be a quick and easy way to get a general idea of the value of your home. Simply type “What is my home worth?” into your browser’s search bar and you will get a long list of real estate, lender or mortgage broker websites that offer free automated valuation tools to help homeowners or home buyers estimate the value of homes.

The important thing to know when using these calculators is that they have limits in terms of accuracy. The figures they provide on the value of your home will be just a rough estimate based on public records, such as recent sales in your neighborhood, local listing prices, property transfers and tax assessments, among other factors. So, while they can be a good place to start, they are just the first step in getting a handle on home value.

Federal Housing Financing Agency’s House Price Calculator

This tool also offers a quick estimate of home values and can be more accurate than the typical online valuation tool. It can be particularly useful in estimating how much your home may have increased in value after you have owned it for a few years. It uses information gathered on mortgage transactions going back to the 1970s, tracking changes in the value of a home each time it is sold to provide an estimate on its current worth.

The thing to keep in mind when using this tool is that it cannot give you a carved-in-stone valuation of your specific home. Since it does not get into important details like the condition of your home, improvements that may have been made over the years and other factors that can affect the value of an individual home, results from this tool can only be used as a general estimate of what your home is worth in today’s real estate market.

Check the Value of Similar Homes in Your Area

Comparing your home to others in the area that have been sold or listed for sale in your area is another good way to get a general estimate of what your home is worth. To do this, you’ll need to look on the MLS (Multiple Listing Service) for comparable homes in your area that have been recently sold. That means looking for homes that are similar in:

• Size
• Condition
• Upgrades
• Location

If you can’t find at least three comparable homes in your area that have been sold, you can also look at listing prices for comparable homes that are currently on the market – but be aware that asking prices are not always representative of the actual home values.

Finally, you will need to adjust your estimate of value according to differences between those homes and yours. For example, if one has more bedrooms than yours, it will be worth more, or if yours has had recent updates, its value will be higher than homes that have not. Once you have made these adjustments, your best estimate of your home’s worth will be had by noting the highest and lowest values of comparable houses, then estimating your home value just about halfway between them.

Get Professional Help

If you are ready for more concrete answers as to how much your home is worth, getting professional help is the way to go. If you are trying to get approved for a mortgage or a home equity loan, you will need to have a professional appraiser in to provide the most accurate estimate of the value of your home. Lenders require a professional appraisal before approving loans. You can also hire an appraiser on your own if you need a solid estimate of value for other purposes, such as financial planning or to help you decide if it is the right time to list your home for sale.

Other options for professional help in establishing home value include seeing a broker for a professional price opinion (BPO). This involves an evaluation of your home and your local market by a real estate agent. You can also ask a local real estate broker for a competitive market analysis (CMA), which takes both the agent’s value estimate and the sale value of comparable properties in your neighborhood into account.

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The first thing you must understand is that a home warranty is not the same as homeowner’s insurance. The latter being, coverage you must obtain upon purchasing a home to protect against fire, theft, and various other incidents. A home warranty, on the other hand, is a service contract that covers the major appliances and systems in your home, in the event they break down. The idea is that under this home warranty contract, your covered items will be repaired or replaced.

How Do I Get a Home Warranty?

A home warranty does not come automatically with a home when you buy it, like many manufacturer’s warranties that attach to their products. Nor is a home seller obligated to provide you with one. It is a completely voluntary purchase. Therefore, it is highly unlikely that you would have a home warranty without knowing about it.

One very common way to get a home warranty is during the sale and purchase of a home. Many sellers will buy home warranties for the homes they have for sale. They may do this to protect the home while it is on the market, in which case you can generally continue the coverage for the year after closing on the house. Or, the seller may purchase a home warranty for the buyer as an incentive for you to buy their house. Also, real estate agents will give home warranties to buyers as a thank you for working with them. This service contract takes effect on your behalf at closing and will typically be handled in closing costs.

If you have decided to buy warranty service for yourself during the home buying process, you will pay for it at closing. The home warranty service contract will then cover you for one year and is generally renewable by the homeowner. (You can also buy a home warranty at times other than closing, after you have purchased your home).

If you are buying a home, ask if there is an existing home warranty or if the seller intends to provide one. Then, ask to see the home warranty contract. This is important because home warranties only cover certain systems and appliances and can have multiple exclusions.

What Does a Home Warranty Cover?

A home warranty may cover any of the following:

• Air conditioning
• Plumbing stoppages
• Telephone systems
• Plumbing systems
• Electrical systems
• Attic and exhaust fans
• Sump pumps
• Central heating systems
• Hot water pumps
• Built –in dishwashers
• Heating and duct work
• Cooktops
• Built –in microwaves
• Water heaters
• Ovens

Some will cover more, some less. As with most contracts of this type, you can pay extra for more coverage, such as for pools, spas and septic systems. Be very careful to read the contract thoroughly. Most home warranties will not cover excessive wear and tear, pre-existing conditions, or where there has been improper maintenance. These exclusions obviously leave room for differences of opinion. Be sure you research the home warranty company to ensure that you will get the best coverage and customer service.

If an item cannot be repaired, the home warranty company may replace it. But don’t expect an upgrade. You should expect to get something comparable in function, regardless of the brand you had. Home warranties also have limits on how much they will pay out each year; and, you will certainly want to be aware of this.

How Much does a Home Warranty Cost?

Home warranties generally start between $300 and $500 but can go much higher, based on the coverage. You must weigh the potential risks against the money you will spend for the policy, as well as the value you will get for your money.

Older homes are more likely to have appliances and systems that will break down. So, it may be a good idea to have a home warranty in this instance. But, you probably wouldn’t want to buy a home warranty for a new or nearly new home, especially since items that are already covered under a manufacturer’s or other warranty will likely not be covered under a home warranty contract.

With every claim, you are expected to pay a service fee. These can range anywhere from $50 to $100 or more. Still, the cost of a single repair of a covered system break down could potentially pay for the whole year’s home warranty premium and then some. There is value in having the peace of mind of knowing that you will be covered for major repairs with only a service fee to be concerned with. After all, one major repair could wipe out your savings, especially right after you have purchased a home.

If you don’t know whether a home warranty is being provided with the home, you are looking to buy – ask. Ask the seller; ask your realtor. But find out. Then, if one is not being provided, do your due diligence and look at all your options and decide if purchasing a home warranty is right for you.

The post How Do I Know if I Have a Home Warranty? appeared first on Choice Home Warranty.

For many seniors, there’s no place like home. But living in a home that isn’t well-suited for senior residents can be difficult and even dangerous. Every day, seniors are injured in preventable accidents including slips, falls, and fires.

With aging-in-place remodeling, seniors are able to retrofit their homes to make them safer, more accessible, and comfortable. Updates like walk-in showers, lower countertops, even home automation make it easy for seniors to stay in their homes and live safely.

Homeowners 55 years old and older often plan to stay in their home indefinitely, with 61 percent saying they plan to age in place. And according to the AARP, 80 percent or more of all retired people consider it important to stay in their own home as they age. This is a good idea, but unfortunately, 78 percent of homeowners aren’t ready to age in place. Most homeowners ages 55 and older haven’t yet completed an aging-in-place home renovation. Experts say baby boomers don’t yet think of themselves as old and often don’t put much thought into the idea of aging.

If you’re a senior adult and plan to stay in your home, aging-in-place remodeling projects should be a serious consideration for you. In this guide, you’ll learn about the benefits of aging in place, why aging-in-place remodeling is a smart idea, some of the most popular aging-in-place remodeling projects, and important tips and considerations you should keep in mind if you plan to remodel for aging in place.

The Benefits of Remodeling for Aging in Place

Remodeling for aging in place is often a smart idea for healthy seniors who prefer to stay at home rather than live in an assisted living facility. These are some of the leading benefits of remodeling for aging in place rather than leaving home.

• Seniors can continue to live at home: At the top of the list for many seniors is the fact that with aging in place, they can continue to live in their own homes. this is important for many reasons, often convenient location, security, familiarity, and proximity to family.
• Maintaining independence: Seniors overwhelmingly want to keep their independence, maintaining control over their lives and staying active in the community they’re familiar with.
• Minimizing change: Seniors who stay at home with aging in place benefit from reducing the amount of change in their lives. They are able to maintain their usual routines rather than making big adjustments in their daily life that can be stressful.
• Lower health care bills: With helpful aging-in-place remodeling, seniors can enjoy lower health care bills. In a New Zealand study, seniors had a 33 percent reduction in spending to treat fall injuries after their homes were renovated for aging in place.
• Safety in a familiar environment: Seniors tend to be safer in an environment they’re familiar with. After navigating a home successfully for years, seniors have a level of instinctive safety as they remain in the home they are familiar with.
• Affordability: If you’ve finished paying off your mortgage or can afford to continue paying your monthly mortgage payment, staying in your home can be a smart financial decision. Moving into a retirement home or assisted living facility can cost $40,000 per year or more. Compared to the cost of insurance, property taxes, maintenance, and aging-in-place updates, most seniors will come out ahead financially if they decide to stay at home and simply renovate to fit their needs.
• Keeping treasured belongings: Assisted living facilities typically don’t have a lot of space for personal possessions or storage. That means seniors who move in to a facility may have to part with some of their most valued belongings before they move in. But for seniors who stay at home, this is not a concern.
• Welcoming family and friends: A single family home is simply more inviting for family and friends to visit than a senior facility. Some facilities may have rules regarding the hours and frequency of visits from family and friends. Seniors can maintain a pleasant and comfortable home that’s enjoyable for families to stop by.
• Reduced risk of illness: Moving to an assisted living facility may mean getting sick more often. With a large number of residents living in a facility, colds, flus, and other illnesses often spread quickly. But seniors who live at home will be less likely to catch these illnesses.
• Keeping pets: Many assisted living facilities do not allow residents to keep pets. But living at home, seniors can keep their dog, cat, or other pet. This is especially helpful for seniors, as pets can reduce stress and provide companionship for those who live alone.
• Home resale value: Aging-in-place remodeling projects may be a selling point for future buyers. Attractive accessible design is valuable not just for seniors, but for individuals with handicaps and others who simply enjoy having a home that’s easier for everyone to use.

Why You Should Consider Aging-in-Place Remodeling with Every Renovation

Aging in place is often a consideration for seniors when they decide to stay in their homes rather than move into an assisted living facility. But integrating aging-in-place remodeling into your next renovation may be a good idea whether you’re nearing retirement age or not. If you plan to eventually retire in your current home, making updates now can save you money later, and they just might come in handy even before you reach senior status.

Remodeling for aging is place is best done before homeowners need the changes. Living in a construction zone can be difficult and hazardous for seniors, and more importantly, financing remodeling projects on a fixed budget may be hard if not impossible. If you make changes now, you’ll be ready long before your senior years set in.

Another consideration: many families now include not just parents and children, but grandparents as well. Adult children who care for their parents in their own home will benefit from aging-in-place renovations. These updates can make a home more comfortable and accessible for family members of all ages and abilities. Ultimately, aging in place makes a home more comfortable for occupants of all ages and abilities.

If you think you’re far too young to be installing grab bars in your home, don’t shoot down aging-in-place remodeling too soon. While you may be thinking that making these changes will have your home ending up looking institutional, many updates today are part of the latest design trends. Updates like large walk in showers, higher toilets, and natural lighting are appealing to seniors and general home buyers alike.

The Basic Principles of Remodeling for Aging in Place

Remodeling for aging in place means making updates to your home that improve safety and convenience for older adults. Making your home easier to use removes frustration and many of the hazards that come from living independently. These are some of the most important principles that aging-in-place remodeling addresses.

• Falling hazards: Slippery floors, small steps, even thresholds can cause seniors to fall and injure themselves. Updating flooring and doors removes this danger.
• Wheelchair accessibility: Developing wheelchair accessibility makes it easier for aging homeowners to reach all areas of their home.
• Dexterity improvement: As muscles weaken with arthritis and other conditions, seniors may have trouble gripping traditional doorknobs and cabinet handles. Making changes like lever handles can make it easier for seniors to open doors and cabinets.
• Visibility improvement: Diminishing eye sight makes daily life, even at home, more difficult. Improving lighting throughout the home can help seniors see better and move around more safely.
• Minimal maintenance: Cleaning and maintaining a home can be difficult for able-bodied homeowners and is often an arduous task for seniors. Updates that reduce the need to clean and maintain a home are a good idea for seniors.
• Bathroom modification: Wet and slippery bathrooms are one of the most dangerous places in a home for seniors. Bathroom modifications can make bathing a safer and more enjoyable experience.
• Emergency medical response systems: Seniors want to know that they can call for help if they need it. Often, seniors will install smart home technology or home security systems that offer medical response features.
• Single-floor living: As seniors age, getting up and down the stairs may no longer be a daily task. Often, aging-in-place remodeling includes adding a master bedroom and bath on the first floor if one doesn’t exist already.

Popular Aging-in-Place Remodeling Projects

Aging-in-place remodeling encompasses a variety of home updates. Practically anything that makes your home easier to live in as a senior can be considered aging-in-place remodeling. Many seniors focus on functional rooms, such as bathrooms and kitchens, for major projects, but aging-in-place updates can be made throughout the home. These are some of the most popular projects that homeowners typically complete for aging in place.

Shower and Bath Updates for Aging in Place

The bathroom, and particularly the shower, is one of the most dangerous home areas for seniors. With wet and slippery tile, stepping into and out of showers or baths is often hazardous. These updates make the bathroom a safer place for seniors.

• No-threshold shower: Tub and shower combos and some walk-in showers may have a curb or threshold that seniors have to get past to get into the bathing area. This is difficult for anyone using a wheelchair, crutches, or walker, or those who simply have limited mobility. With a curbless shower, seniors are able to walk right in. Many seniors decide to trade out a garden tub for a large shower.
• Handheld shower head: Handheld shower heads make it easy for seniors to stay in one place or even stay seated while showering. Reaching up high to adjust the direction and flow of water is eliminated and seniors can even clean the shower area more easily with a handheld shower head. Handheld shower heads should have a long hose, ideally at least six feet long.
• Shower steamer: A shower steamer is a bit of a luxury item, but it is a great addition for many seniors, making showers steamier and warming up stiff bones and muscles.
• Shower seat: Seniors can benefit from sitting down to bathe in the shower. Often, shower seats are built into the tile or can be pulled down from the wall.
• Single-handle lever: Turning multiple knobs to get water in the shower can be difficult for arthritic hands. But a shower with a single handle is easy for anyone to operate. Seniors should also consider installing faucets lower than usual to accommodate for seated users.
• Grab bars: Grab bars are necessary for seniors who lack strength and stability in the shower. Often, double duty grab bars that look more like accent pieces can be installed. They can look like toiletry holders, shelves, or towel holders and match other fixtures inside the shower.
• Comfort height toilets: Comfort height toilets have a seat that is slightly higher than standard toilets. This makes it easier for seniors to get up and down in the seated position.

Elevation Modifications for Aging in Place

For many seniors, going up and down stairs is no longer safe or easy to accomplish. Even those who are not in a wheelchair can find it difficult to make it to the second floor, necessitating updates that make it possible for seniors to get upstairs without actually using stairs.

• Stair lift: A stair lift makes it possible for seniors to sit in a chair and ride up the stairway rather than stepping on each individual step.
• Front porch railings: Adding additional railings for easy grabbing and stability can help seniors get up front porch steps easier.
• Wheelchair ramp: A wheelchair ramp isn’t necessary for every home, as not all seniors will end up in a wheelchair. But even if you’re not in a wheelchair, a gradual ramp can be easier to get up and down than front porch steps.
• First floor master bedroom and bathroom: For seniors who have trouble going up and down the stairs, a master bedroom and bathroom on the first floor can be a must have. This eliminates the need to go upstairs on a daily basis to sleep or bathe. However, some homeowners find that it can be less expensive to put in an elevator and elevator shaft than it is to add a first floor master bedroom and bathroom.
  

  Lighting for Aging in Place

  Seniors may have vision limitations, making it more difficult to see clearly at home. With limited vision, it’s tough to see while you’re completing tasks throughout the home. But with the right lighting, seniors can see better at home. Often, all that’s needed is to add additional light fixtures for better visibility.

• Side by side sconces: Sconces placed on either side of the mirror produce less glare and make it easier to see than overhead lights.
• Natural light: Natural light from windows or sky lights are the best light sources, offering seniors a softer light that produces less glare.
• Recessed lights: With recessed lights, seniors are able to add more lights and make the entire room brighter for better visibility.
• Sensor lighting: Sensor lighting automatically senses when seniors enter a room or start to descend the stairs. It’s especially useful for seniors with impaired night time vision.
  

  Doorway and Window Updates for Aging in Place

  Something as simple as making it through a doorway or opening a window can become complicated if you’re in a wheelchair or have limited dexterity. Widening doorways and updating hardware so it’s easier to handle can make life easier for seniors.

• Wider doorways: Wider doorways make it easier for seniors to get into the next room, particularly in a wheelchair or with the use of a walker. Doorways should be widened to 36 inches and any raised sills should be removed. For safety, hang the door to open out so that the door won’t be blocked if anyone falls against it.
• Lever handle door hardware: With a lever handle, seniors don’t have to try to grip a small door knob.
• Easy to operate window hardware: Some window hardware can be difficult for senior hands to grip. But with easy to operate hardware, windows can be opened easily.

Kitchen Renovations for Aging in Place

Like bathrooms, kitchens are a highly used room in the home that can be particularly dangerous for seniors. Tall counter tops, cavernous cabinets, and poor lighting can make it difficult and even hazardous for seniors to prepare food at home. But thoughtful aging-in-place updates can make a kitchen easier and safer to use for all seniors.

• Counter top height adjustment: Multiple counter top heights and even pull out work areas make a kitchen more accessible for seniors. And ideally, cabinets should leave space open below for wheelchair seats if needed.
• Pull out drawers and kitchen cabinets: Digging around in lower kitchen cabinets can be tough for seniors who may have back pain or not be able to bend over and lift items up to counter height. Using drawers or cabinets with pull out shelves make it easier to see and retrieve items. A swing out shelf or lazy Susan is another good idea for kitchen cabinet accessibility.
• Under cabinet lighting: Lighting under cabinets can illuminate counter tops, making a senior’s work space brighter and safer to use.
• Lever handle faucet: Sink faucets should have lever handles to make them easier to grab and operate than knobs. Better yet, go with a motion sensor model that turns on automatically.
• Accessible appliances: Side by side refrigerators with double doors are easier to open in a wheelchair. Also consider microwave placement and safe induction cook tops when making kitchen appliance updates.

Flooring Updates for Aging in Place

Hardly anyone thinks of floors as dangerous, but for seniors, they can be. Slippery floors, high-pile carpet, and other flooring can be hazardous for seniors. Updating to nonslip floors and flooring that is easy to roll a wheelchair on can make a big difference for seniors.

• Slip resistant flooring: Water and slick tile can spell trouble for seniors, but slip resistant tile or vinyl can be a life saver. Textured tile like slate is a particularly attractive choice.
• Low pile carpet: High pile carpet can increase the risk of tripping and falling. It’s also tough for pushing a walker, using a cane, or rolling on a wheelchair. While hard surfaces are often easier for seniors, low pile carpet can be a smart choice as well.
• Wood flooring: Tile can be difficult to stand on for long periods of time, especially for seniors with hip or back pain. Going with a softer material like wood, cork, or vinyl flooring will take it easier on your back.

Smart Home Technology for Aging in Place

Smart home technology makes life at home simpler, automating tasks and allowing seniors to rely more on technology than physical or mental capabilities. With features like smart lighting smart locks, sensors, and voice activated devices, home automation is very helpful for many seniors. In fact, 65 percent of homeowners 55 and older believe smart home technology could help them age in place.

• Smart locks: With a smart lock, you may never have to take your keys out of your pocket to get in and out of your front door. With these Wi-Fi enabled locks, all you have to do is touch the lock while your phone is within range, and it will automatically unlock for you without using a key at all.
• Smart lighting: Smart lighting automates lighting in your home. It allows you to set up timers for daily life, vacation, and more. And you can use smart lighting with sensors or voice activation to turn on when you enter a room, which can help prevent falls, bumps, and accidents.
• Voice activation devices: Using voice activation devices, you can do everything from setting the temperature to turning lights on, even making coffee, all with just the sound of your voice.

Important Considerations for Aging-in-Place Remodeling

So you’re ready to jump in and start aging-in-place remodeling projects. What now? These are a few considerations you should keep in mind when planning what you’ll do to improve your home for senior living.

• Find the right contractor: Aging-in-place remodeling is no easy task. You’ll want to carefully choose your contractor, ideally finding one who specializes in aging-in-place remodeling.
• Prioritize your projects: You might consider updating your bathroom to be the first thing you need to take care of when remodeling for aging in place. But less exciting projects like adding smoke and carbon monoxide detectors, easy to open locks, and fall prevention measures are the basics you should tackle first.
• Consider alternatives: Though many seniors consider a first floor bedroom and bathroom to be a must have, the fact is that it may be more expensive than alternatives. Contractors may be able to put in an elevator or change the entrance level to the house for a cheaper price than the cost of a first floor bedroom project.
• Weigh the cost of staying in your current home: Most seniors want to stay in their current home indefinetly, avoiding an assisted living or retirement home. But aging-in-place home renovations can be expensive, more expensive than simply downsizing into a different home with senior accessible home features already in place. However, seniors should take into consideration that it can be difficult to uproot their lives into a new home, even if it’s not of the retirement or assisted living variety.

Helpful Resources for Aging-in-Place Remodeling

Want more? Find additional information, support, and more for aging-in-place remodeling from these useful resources.

• HomeAdvisor Resources for Aging in Place: Find resources for project costs, popular renovation projects, aging-in-place reports, and more from HomeAdvisor.
• National Association of Home Builders Certified Aging in Place Specialist: Learn about hte Certified Aging in Place Specialist designation program from the National Association of Home Builders here. You can even find a directory listing to discover Certified Aging in Place Specialists in your area.
• National Association of Home Builders Aging in Place Remodeling Checklist: In this checklist from the National Association of Home Builders, you’ll find important features you should consider for your aging-in-place remodeling project.
• National Aging in Place Council: The National Aging in Place Council is a senior support network offering information and services for seniors interested in independent living.

The post What Senior Homeowners Need to Know About Aging in Place appeared first on Choice Home Warranty.

Staging your home is an important part of the selling process. You want to make your home look as appealing as possible for potential buyers. Staging your home effectively will make buyers feel comfortable in your home and help them imagine what it might be like to live there. This is a powerful way to attract more buyers and offers and even sell your home for more money.

Of course, staging doesn’t always come cheap. Updates, repairs, even new furniture and accents can really add up and eat into the profits of your home sale. And while investing in staging often pays off, it’s not always something sellers want to spend a lot of money on.

The good news is that staging doesn’t have to be expensive. Some of the most important staging tasks, like clearing out clutter and deep cleaning your home, cost practically nothing but your time. Others, like removing odors and making your front lawn tidy are extremely low cost.

Read on to discover 14 essential tips for staging your home on a budget. We’ve included important details and expert recommended tips that will help you make your home look its best when you put it up for sale.

Clear Away the Clutter

The first step in staging a home is taking away anything that might distract a potential buyer from the features of your home. “The whole idea is to create an environment that potential home buyers can envision themselves living in,” says USRealty.com president Colby Sambrotto. “This will help create a neutral canvas for potential homebuyers.

Sambrotto recommends streamlining every room, but stop short of removing all evidence of life. You should declutter your home of clunky, oversized furniture and remove excess personal items. These include family photos and knickknacks. It’s especially important to remove outdated decor that may be a major turnoff for buyers, including silk flowers, drapes or curtains, and holiday decorations. All of these items can be stored offsite or disposed of.

It’s also a good idea to make kitchen drawers, cabinets, and closets throughout the home neat and tidy, says Sambrotto. Potential buyers will want to open them and you’ll want to be sure that you’re showing off all of your home’s storage space. They should only be about half full or less to give the impression that there’s more storage space.

You should also pay careful attention to built in bookshelves. Buyers love them, but not if they’re too cluttered for them to imagine filling the bookshelves with their own photos, books, and knickknacks. Clear them out to show off the furniture instead of your belongings.

Clean Up

It sounds like a no brainer, but you’ll need to remember to deep clean your home and remember important cleaning details before taking photographs or scheduling showings.

John Horner, owner and founder of Central Ohio Home Buyer reminds sellers to clean linens and carpets. Remember to put dirty towels from the bathroom in the washer and use a scrub brush for carpet stains. It will make your house look a lot better than you might think, says Horner.

Pay special attention to your kitchen and bathrooms, as buyers will immediately notice if they’re dirty. Clean dirty counter tops and walls and consider giving these rooms a fresh coat of paint.

Focus on the Front Door

Think of the front door and foyer area of your home. Is it welcoming and inviting? You should take special care to clear this space of clutter like keys, key holders, coat racks, and mail areas. In their place, add appealing items like art, a mirror, or flowers.

Make Your Home Smell Great

Every home has its own odors and smells. And while some of them can be pleasant, others may be a turn off. Avoid scaring buyers away with odors. Be careful about what you cook before showings and do your best to remove any pet odors. Invest in flowers, candles, and air fresheners, and of course, give your home a thorough cleaning before every showing.

Think About How Your Home Will Appear in Photos

Today, first impressions are made online as potential buyers view photos of homes for sale. You’ll have to wow buyers with photos before they even walk in the door, or they may not be interested enough to see your house in person. Think carefully about how your home will look in the photos posted with your listing. “What looks best on camera might not be what works and looks best in real life,” warns Sambrotto

Sambrotto recommends creating showcases and focal points that will draw attention to the best features of your home. “It’s better to showcase an intimate arrangement of furniture than to keep a room crowded,” says Sambrotto. “Create a focal point of a key feature in each room such as a window with a pretty view, built in shelves or a fire place. This will draw visitors’ eyes to the features by grouping color and light in a pathway to the feature.”

Get Great Listing Photos

Many sellers decide to use a professional real estate photographer to take listing photos. This is a good idea, as professionals understand how to capture images of your home that are not just high quality, but capture it in the best light, angles, and more. If you decide not to use a professional photographer for listing photos, keep in mind that your home will be competing with professionally photographed homes. That means you and your Realtor will need to create professional quality photos to advertise your home.

Sambrotto recommends taking photos on a bright, sunny day. This will show potential buyers your home in the best and most welcoming light. He encourages sellers to take photos from several angles in each room, giving people a good sense of the flow of your home.

John Bodrozic, cofounder of HomeZada encourages home owners to take close up photos of important features. He says you should include close up photos of appliances, counter tops, cabinets, floors, plumbing fixtures, and more. This helps buyers better visualize the home before they visit. They are also good for reviewing after a showing to compare your home to any other ones they’ve seen.

Improve Your Curb Appeal

The outside of your home is the first thing a potential buyer sees, whether they’re looking at the first photo of your home in a listing or driving by for a showing. You’ll need to demonstrate your home’s curb appeal to get their attention and make them interested in seeing what’s inside.

Curb appeal is one of the most budget friendly staging tasks. You’ll need to tidy up your yard, trim bushes and trees, and mow the lawn, says Sambrotto. It’s also a good idea to clean all surfaces you touch and consider adding a pop of color with flowers.

Make any repairs necessary including fixing loose steps or shaky porch railings. And of course, make sure your doorbell works. Take things a step further and touch up peeling paint on windows and doors and be sure to polish any metal surfaces, such as your door knob.

Paint Your Walls

Nothing makes a difference in your home faster or cheaper than a can of paint. Sambrotto encourages sellers to paint walls in a neutral or muted version of vibrant colors. With this approach, you can preserve a version of your color scheme and avoid spending money on new accessories, furniture, or upholstery, while at the same time enhancing the visual flow from one room to the next.

Find Affordable Sources for Furniture and Accents

If your home needs help staging with furniture and accents, the cost can really add up. But Doreen Dilger, owner of PINC Management, has plenty of ideas for affordably sourcing items you can use for staging.

“Shop at tag sales, consignment shops and places going out of business,” encourages Dilger. She also recommends shopping at discount stores and their clearance areas. Remember to get a list of what items are sold during peak months and plan ahead. You can start well ahead of your home sale and plan future staging as you save money.

Another low cost source Dilger recommends: storage unit facilities. “Sometimes they have people who are throwing stuff away or haven’t paid their bill and need to get rid of their stuff,” she says.

As staging is temporary, many home owners are hesitant to invest in furniture and other items they may only use for a few weeks or months. Dilger says it’s a good idea to contact rental places and see if you can get a multi use discount. If you have a relationship with an owner you can go further with staging for less. She also recommends that you contact people in your area that live somewhere else for 6 months out of the year. Some people are willing to let you borrow their things while they are away.

Make Strategic Upgrades

If you’re planning on making some updates to your home, consider your budget and focus on the areas where you’ll have the most impact. An updated kitchen, followed by bathrooms, will have the most impact on wowing potential buyers. You’ll also get the best return on your remodeling investment. Remember: an update can be something as low cost as painting your cabinets. You can also simply paint over dated tile rather than replacing it.

Light it Up

Good lighting can make all the difference in how your home looks. Bright and beautiful is what buyers are looking for, so be sure to open up the blinds or curtains, cut trees and bushes away from windows, and switch out existing light bulbs for brighter ones. They will make your home look bigger and brighter.

Showcase Dining Areas

Help buyers imagine having dinner in your home. Set your dinner table and all of the other tables or bars in your home. Add chairs to a bar or eat in kitchen. It’s also a good idea to remove any leaves you may have in your dining room to make the table as small as possible. A smaller table will make your dining room look bigger.

Update Your Fireplace

Many fireplaces look dated and can be a turnoff. You can update your brick with paint and use heat resistant spray paint to give your screen a facelift.

Rethink Room Usage

Know your buyers and consider how they’re likely to want to use a room. A home gym or office may be perfect for your needs, but buyers may just want another bedroom. Think about your neighborhood and what potential buyers want and stage each room in your home accordingly.

The post 14 Tips for Staging Your Home on a Budget appeared first on Choice Home Warranty.

Here at Choice Home Warranty, we’ve been hearing the question, “Is home warranty worth it?” quite often of late. Perhaps a week doesn’t end without several people inquiring on the same. Factually, this is a very valid question to ask.

This is because many homeowners find it difficult to decide if they should pay for their house repairs and replacements themselves or purchase a home warranty. To begin, as a homeowner, there are three ways you can protect yourself after purchasing a house.

How to Protect Yourself When Buying a House

First, as part of the condition of buying the house, consider employing the services of a professional inspector. The expert will ascertain that the house is perfect for occupation, and of satisfactory standards. If the inspection results are not satisfactory, the deal should be off.

Secondly, new homes are likely to come with a warranty period. Actually, some homes come with up to 10 years of warranty. This provides a complete 10-year coverage of the major structural components of the house, including the electrical, mechanical and workmanship. New components that you install probably have their own warranty.

The third option is getting a home warranty. So what is a home warranty?

Home Warranty – What Is It?

Home warranties are not the same as home insurance policies, as many may perceive. That said, a home warranty is a guarantee, promise, and protection provided by one party, preferably a company, to a homeowner.

Whereas both home insurance and home warranties offer coverage and protection against damages to a home or property, they have some variance. Below are some of the specifics as to where these two differ.

A home insurance policy is a liability coverage that protects the homeowner against losses if the house suffers a calamity such as fire, strong and damaging winds, heavy downpour, lightning or theft, but not floods. With this policy, you will take your payout and hire a contractor to undertake the needed repairs.

On the other hand, a home warranty is simply a service contract that binds the hired company to pay for replacing or repairing specific components in your homes such as a furnace, boiler, swimming pool or your HVAC system.

Your annual service fee paid stands for dispatching the contractor – like electrician or plumber, to your house to perform repairs when the problem arises. Note that warranty doesn’t foot the bill if a fire or a fierce wind blows off half of your house.

The second difference is that homeowners insurance isn’t complementary if you are living in your own house, free from a home loan. However, it is usually necessary if you have an active mortgage. The amount of insurance paid depends on the replacement costs.

Turning to home warranties, this is an optional plan that costs roughly between $350 to $500 annually. The coverage depends on some factors such as where you live, type of warranty chosen and the type of property owned. For instance, prices certainly differ if you live in a single-family house or mega mansion.

What Does A Home Warranty Cover?

The main point of getting a home warranty is to cover home repairs when the time arises. However, not all home warranties cover your household items. For instance, homeowners with old houses will prefer plans that cover more things compared to a new home.

Those living in new houses may need less cover, as their new items are still under manufacturer’s warranty cover. Home warranty contract covers items found in the following four clusters.

1. Plumbing systems – the plan may cover drainages like stoppages, pipe leaks, diverter, whirlpool motor and pump, sump pumps and toilets.
2. Electrical systems – most warranties cover wirings, plugs, circuit breakers, ceiling fans, junction boxes, conduit, central vacuum, switches, and panels.
3. Heating and cooling systems – the warranty may cover primary HVAC systems such as evaporative coils, air handlers, wall air conditioners, ductwork and compressors among others.

Tiers of Warranty Coverage

Just like other numerous warranty service providers, there are three main tiers of coverage provided by Choice Home Warranty. They include:

• The basic plan – it covers costs of plumbing systems, dishwashers, exhaust or ceiling fans, oven ranges, garbage disposal, water heaters, built-in microwaves and whirlpool tubs.
• The enhanced or total plan that covers dryers, refrigerators, garage door openers and other specifics. It is relatively costlier compared to the basic plan.
• The optional warranty coverage that includes pools, spas, sump pump, septic system, standalone freezer, well pump and other items.

Home Warranty Cost

The cost is perhaps a big factor when deciding if taking a home warranty is worth. As mentioned before, basic coverage starts from several hundred dollars. Other service providers charge for service calls with their approximated pricings while others provide for unlimited service calls.

Therefore, to determine if taking a home warranty cover is worth it, begin by evaluating how old your properties, home appliances, and home systems are. If they are still new, be certain that manufacturer’s warranty still covers them. You should also evaluate the expected lifespan of the individual items to figure out if the warranty coverage is really essential.

Some companies necessitate that they undertake annual maintenance on the appliances and various covered home systems to keep the warranties valid. Some may inquire on how long you have owned and used them. Nevertheless, you shouldn’t expect the company to pay for the annual maintenance cost of these appliances.

You should read the contract carefully, ascertaining that old systems are covered, and with fair terms.

Should You Buy A Home Warranty?

Having discussed on the cost, you are probably wondering if you should buy a home warranty. Worry not, here is the tip. For a newly constructed home, you probably don’t need a warranty. As mentioned, new items are protected by manufacturers’ warranty. Similarly, all states require that the seller repair the defects in systems, appliances or workmanship before selling the property.

Existing houses may have considerable wear and tear and tend to be equipped with old appliances. In such cases, a home warranty makes lots of sense. However, don’t go for a home warranty if you intend to upgrade your appliances to better models. This is because the policy coverage isn’t within this reach.

Why Home Warranties Work

1. They protect against expensive repairs
   At times, warranties are just necessary for covering overpriced repairs. In such cases, the cost of the home warranty may be far less than what is paid for the repair or replacement of the appliance. A good example being the replacement of a central A/C unit that costs roughly $5,200. This makes the $500 annual payment seem like a bargain.

   Also, if you lie in a house with old appliances on the verge of collapsing or breaking, paying for the warranty is prudent, just in case it breaks. However, a home warranty is not just for recurring costs, especially on old appliances. Homeowners who want to populate their house with pricey and sophisticated equipment may consider having this cover prudent.

2. It saves you time
   If you are a hands-on type of person with no or minimal time to find a repair expert, having a home warranty coverage saves you the hassle of finding the best experts. With a warranty, you simply need to call the providers, and they will take care of the rest. They will send the right person to your home right away.

3. It incentivizes home buyers
   Even if you were to buy a house, one that comes with a basic home warranty would be your priority. Having a warranty may be a source of attraction to prospective homebuyers, especially those on a budget eyeing for a property with uncertain repair or maintenance history.

   Such buyers will take advantage of such a plan, bearing in mind that it is free of charge. Those eyeing old houses will also prefer a warranty as it brings peace of mind to their investment.

Things to Pay Attention to with Home Warranties

1. Additional fees can add up
   Many people don’t know that the annual cost of their home warranty isn’t where the expenses end. With many of our competitors, there are additional deductibles, service and diagnostic fees. This extends the costs beyond client’s initial annual fees. At CHW, you simply pay for your home warranty’s cost and the service call when a technician is dispatched.

   However, with Choice Home Warranty’s Total Plan, you can rest assured you’ll be covered for various different repairs, such as heating systems, AC’s, washers, dryers, your fridge, and many other major appliances.

2. Warranty may not cover everything
   Your home warranty may not cover everything, and this might be the repair you needed the most. Many warranty service providers don’t cover repairs such as leaky windows, roof, chimney problems or basement moisture issues. For instance, if overgrown tree roots have ruined your underground plumbing, a warranty may not fix it.

   Similarly, home warranty companies often refuse to fix existing and pre-installed items that have not been properly maintained or improperly installed.

3. Limited access to service providers
   Home warranty companies often dispatch their personnel to handle your repairs. Therefore, you may have to stick with the contractor sent even if you are not happy with their services.

   Whereas it is convenient that you are saved from hunting down the right man for your repair, for instance, a plumber, you will have to deal with the one hired by the company. Luckily for you, Choice Home Warranty only employs in-house technicians who are true professionals.

Other Things You Can Do After Buying a Home Warranty

Home warranties are relatively affordable. It can be a life saver when you really need it. We have found more ways and tips for you to save money when purchasing home warranty.

Consider the following alternatives of saving money for anticipated home repair costs:

• Emphasize your savings – in this case, prioritize your savings as emergency funds. You might consider opening a dedicated and high-interest account for specifically keeping funds for appliance repair and purchase.
• Attention to the fine print – if you intend to buy a house with a warranty, or considering one of your own, read keenly and pay great attention to the fine print. Be keen on what the warranty covers and what is excluded. Check if the contract has some additional hidden charges, deductible fees or other costs. Above all, search the warranty company for reviews and feedbacks from their previous clients. Avoid companies with negative reviews.
• Take advantage of built-in savings – at times, you might need some new set of appliances, but that does not imply that you pay them in full price. Search for discounts, rebates and other offers available. For instance, there could be an outgoing fridge model being sold at an amazingly discounted price.

Final Thoughts

Having a home warranty provides some piece of mind that your home’s important systems are covered. The company will provide priceless support for both repairs and replacements. They cover your systems and appliances from the effects of everyday wear and tear.

From the statements and facts outlined above, you can judge for yourself if having a home warranty is worth the cost. Nonetheless, consider choosing the best company if you decide to go for these services.

The post Is a Home Warranty Worth It? appeared first on Choice Home Warranty.

Installing a new roof can cost up to $12,000, with many homeowners spending at least $5,000 on a new roof. That’s a major expense for any home, but with proper maintenance, it’s one that doesn’t need to be made for 20 years — sometimes even 30 years depending on the materials used. Of course, good maintenance habits can dramatically extend the life of your roof. Regular inspections, cleanings, and heading off problems before they become serious issues can make a difference in how long your roof lasts. Use these tips to maintain your roof and keep it in good working order for many years to come.

1. Perform regular roof inspections: Whether you hire a pro or do it yourself, this is a smart move that can head off issues before they become a real problem. You should look for damage when the seasons change or after any major storms. Watch out for signs of insect or animal activity, missing, damaged, or curling shingles. You should also keep an eye out for fungus or algae growth as well as rust. Look for shingle pieces on the ground after storms as well, and be sure to look in the attic for leaks.
2. Trim your trees: Tree limbs hanging down over your roof, or even on it can be a serious hazard. Not only do they put you at risk for broken limbs falling on the roof, they can wear down and damage shingles. Tree limbs can also encourage squirrels and raccoons to gain access to your home. Keep in mind that they may be closer to your home than you think: tree limbs are often flexible and can swing several feet during a storm.
3. Remove debris from your roof: Debris such as leaves, small limbs, and sticks can damage your roof and encourage algae growth and even wood rot, so it’s best to remove it. You may want to have your roof cleaned while you’re having your trees trimmed, or just remember to do it each time you clean your gutters using a telescoping pole or a roof leaf rake.
4. Inspect and repair seals, joints, and flashing: These are the most frequent spots for leaks and should be regularly inspected for damage. Flashing covers entry points into your roof including the vents, exhaust pipe, and chimney, and it’s often a hotspot for leaks. Look for bending or even punctures, as well as dried out or loose sealant.
5. Repair small leaks quickly: Roof leaks will always get worse, not better. Invest in a roof repair immediately if you have a leak before it becomes a big problem.
6. Pay attention to warning signs: Don’t ignore the sound of hail, rodents in your attic, leaks, or shingles on the ground. Roof repair may be expensive, but typically, it’s only gets more expensive the longer you wait to fix it.
7. Clean your gutters: It’s a chore no one wants to do, but cleaning your gutters and downspouts, particularly during heavy leaf seasons, will help to keep your roof healthy and allow moisture to clear from your roof. While you’re up there, be sure to check for gaps in the seams and that the brackets are secure.
8. Do not allow pests to live in your roof: If you see signs of small animals, termites, or other pests, take steps to remove them immediately. They can cause serious damage to your roof as they chew and use materials to make their home.
9. Clear snow if there’s danger of collapse: Heavy snow accumulation can cause your roof to collapse. Use a snow rake to carefully remove the buildup from your roof or hire a professional.
10. Install efficient attic insulation and ventilation: The right insulation can stop your roof from warping, and it can also save your roof during a snow or ice storm. Insulation can prevent snow and ice from melting and then refreezing, potentially causing water damage to your roof.
11. Don’t make walking on your roof a habit: Sometimes, it’s necessary to get on your roof, but you should avoid doing so whenever possible. It’s easy to damage shingles or tiles just by walking on them.
12. Avoid power washing your roof: It’s smart to remove debris and algae to keep your roof clean and in good working order, but power washing can damage your roof, possibly even removing parts of it that are undamaged.

With proper maintenance, you can enjoy decades of service from your roof. This can save you thousands on roof replacement and keep your home and family safe for years to come. When it is time for more serious roof repair, make sure you have a home warranty to cover the costs.

The post 12 Roof Maintenance Tips That Save You Money appeared first on Choice Home Warranty.

Using a study conducted by realtor.org, we wanted to compare how couples (married and unmarried) and single people approached buying a home. We also looked at how some key demographic areas change over time.

In comparison to other household compositions, males place a high importance on convenience to entertainment/leisure activities, while females place a high importance on how close they are to family and friends. The quality of the school district was most important to married couples, while the affordability of a home was most important to an unmarried couple. Both couples, whether married or unmarried, placed “desire to own” as the biggest reason for buying (20% of married respondents, 48% of unmarried respondents).

Overall, one thing we noted was the increase in average income. Going from roughly $72,000 to roughly $84,000 in four short years is quite the jump, and it perhaps signals rising home prices that make earning more money a necessity before owning a home.

While these differences are subtle, they can make a huge impact on each finding the perfect home just for them. And as everyone knows, owning a home is an everyday process. For a home warranty, or advice on home-owning, check out our buyers and sellers page.

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The post The Difference Between Married and Single Homebuyers appeared first on Choice Home Warranty.

If you’re building your own home with a builder, you’ll typically have the option to choose and invest in upgrades like higher quality floors, appliances, and electrical options. Builders often have a dizzying array of options to choose from, and it can be tough to know which ones are a good idea and a smart investment.

In general, it’s best to focus on enduring investments like better insulation, higher quality construction, or more square footage. You should also focus on items that can’t be changed easily, like plumbing, electricity, and floor plans, for example. Other smart ideas are upgrades that will improve your quality of life or enjoyment of the home, like radiant heating floors, extra large closets, or task lighting.

We’ve highlighted some of the smartest upgrades you can make with your builder, ranging from structural changes to electrical outlets. Plus, we’ve included average national pricing for these projects so that you can compare their cost of taking them on later after building is complete.

Major Builder Upgrades

• Home lot: One thing you really can’t change once you’ve built your home is the lot where it’s located. It’s practically impossible to move your home to a better area in the neighborhood or to a larger lot later. If you’re considering this upgrade, know that this is your one and only chance to take it!
• Structural changes: An extra bathroom, back porch, larger closets, extra garage area, or raised ceilings are all difficult and much more expensive to add once construction on your home is completed. Cost to build an addition: $35,000.

Kitchen Builder Upgrades

• Extra large or additional cabinets: Give yourself some extra storage with extra large or additional cabinets, or cabinets that go all the way to the ceiling. This is an upgrade that buyers are often willing to pay more for. Cost to install new cabinets: $4,000.
• Upgraded cabinet and drawer hardware: Opening and closing drawers and cabinets day after day for decades can really take a toll on your kitchen. Soft close hinges and premium drawer slides can keep your cabinets and drawers in good shape for years to come. Cost to repair cabinets: $252.
• Large center island: As the entertaining hub of your home, it makes sense to add more counter space, storage, and even an eating area with a large center island.
• Stainless appliances: Make your kitchen shine bright and improve your resale value with stainless appliances including an oven, stove, dishwasher, and refrigerator. Cost to refinish an appliance: $275.
• Add task lighting: Undercounter lighting and lighted cabinet interiors can make it easier and safer to work in your kitchen, plus add a nice look to your cooking area. These are often difficult to install after your kitchen is constructed. Cost to install a light fixture: $375/each.
• Stone countertops: Some builders are including granite, quartz, and other countertops as a standard, while others offer them as an upgrade. Most home buyers are looking for more than laminate, and as a home owner, you’ll get more use out of a sturdy stone countertop that will stand the test of time. Cost to install a countertop: $2,901
• Trash and recycling drawers: Make waste more convenient in your home with a trash compactor and a recycling drawer. You’ll spend less time having to run out to the garage or backyard with trash bags, plus, help conserve space and the environment.

Bathroom Builder Upgrades

• Extra large cabinets: Just like in the kitchen, the bathroom is a great place to consider investing in additional storage. Cost to install new cabinets: $4,000.
• Radiant floor heating: Keep your bathroom (and feet) warm with radiant floor heating installed by the builder. This is tough to do later unless you’re getting new floors installed at the same time. Cost to install a radiant heating system: $3,800
• Upgraded tile: Whether it’s on the floor or in the shower, tile often stands the test of time, making this a good area to splurge on quality materials. Cost to install natural stone tile: $1,400
• Separate shower: If you’re thinking about installing a separate shower, or even foregoing a tub and getting a shower instead, now is the time to decide so that you can have the right connections and save on installation. Cost to install a shower: $2,500

Exterior Builder Upgrades

• Brick or stone exterior: If your home comes with siding, but you’d rather have brick or stone, you should probably go ahead and choose the upgraded exterior when you’re building. It’s often difficult and expensive to upgrade exterior materials later. Cost to install a brick, stone, or block wall: $4,500/each
• Upgraded front door: Want your front door to stand out? Do it now. It costs significantly more later. Cost to install a door: $800
• Hurricane shutters: If you live in an area that’s prone to hurricanes and other storms, it might be a smart idea to have the builder install them for you. Cost to install shutters: $1,400

Convenience & Custom Look Builder Upgrades

• Custom mud room or drop zone: If you don’t have a designated mud room or area to drop backpacks, mail, shoes, and other items near your home’s entrance or garage consider getting one from the builder. It will be difficult to add something like this later.
• Skylights: Skylights can add natural light to your home, and it’s best to have the builder do it as these are tough to add later — and you want the builder’s guarantee just in case of leaks. Cost in install a skylight: $1,400
• Extra windows: Another way to add lots of natural light to your home is with builder upgraded extra windows. They can even help you save on your energy bills if you don’t have to turn on your lights. Cost to install a window: $4,500
• Flooring: One of the most popular upgrades, flooring is something you’ll see throughout your home, and it makes a big impact. And while this is often cheaper to do later, it can be a big hassle to take care of once your furniture and other items are moved in. Plus, investing in flooring often pays off for future buyers.

Plumbing & Electrical Builder Upgrades

• Extra outlets: Consider adding extra outlets in the pantry, kitchen desk areas, or even outside. You can install extra outdoor outlets including a Christmas light outlet with a dedicated light switch inside. Also consider light switches for outlets where you may use lamps. Cost to install an outlet: $175/each
• Wiring for surround sound or connectivity: Wiring is typically difficult to install later, as it usually requires opening up walls. This is much easier to do before you have walls whether you plan to have surround sound, extra connectivity wiring, or more. Cost to install electrical wiring or panel: $1,300
• Extra ceiling fans: Rooms just feel nicer with a ceiling fan, and it’s easy to add when you’re building. Cost to install a ceiling fan: $200
• Efficient lighting: Consider energy efficient lighting, such as LEDs, instead of the builder to save money and energy. Cost to install a lighting fixture: $375
• Fireplace or extra fireplaces: This is another project that is simply much easier to do when you’re building than as a DIY later, so if you think you want them, get started on a fireplace with your builder. Cost to install a fireplace or woodstove: $1,450
• Rough in connections: Think you might want to finish out your basement or even your attic? It’s a good idea to get rough in plumbing to the area when you’re building so it will be easier to finish out later. Cost to install new plumbing pipes: $1,100
• Outdoor natural gas line: Fire up your natural gas grill with a gas line instead of propane tanks for convenience. Cost to install or repair a gas pipe: $400

Energy Saving Builder Upgrades

• Tankless water heater: More energy efficient and offering faster access to hot water, a tankless water heater is usually worth it. Cost to install a tankless water heater: $1,000
• Double paned windows: Double paned windows can keep your home cooler in the summer and warmer in the winter. Cost to install windows: $4,500
• Higher rated insulation: Another good way to boost your home’s temperature retention is with better insulation. Ask for a higher rating of insulation than what’s standard. Cost to install blown in insulation: $1,200
• High efficiency air conditioner: A high efficiency air conditioner can keep your home cooler in the summer and save you potentially hundreds or thousands in energy bills over the life of the unit. Cost to install an air conditioning unit: $5,000

Building a home is an exciting journey, but advanced planning can help avoid costly repairs and replacements. If you’re an independent contractor looking to expand your business without spending additional money in advertising, apply to be a Choice Home Warranty vendor today.

The post What Upgrades are Best to Make with a Builder? appeared first on Choice Home Warranty.

We have previously discussed the varying costs of renovating certain parts of your home, but when it comes time to sell your home, you can often find yourself scrambling to make everything look as good as possible. But what rooms in your home have the most value placed upon them?

Activity Equals Value

As a whole, the two rooms in which the most value is placed are the living room and kitchen, each picked at a 28.1% by the respondents. The master bedroom was not too far behind, as 19.3% of people picked that. This makes sense, as these rooms are usually where the most activity occurs. Your television watching, your cooking, and getting ready for the day are all activities respectfully represented by these three rooms. And the rooms we are in the most often are the ones that are going to mean the most to us, financially speaking.

So when you are planning which of your rooms to renovate for your family, consider which one you are in the most.

Know Your Audience

If you are in the position of selling your home, you’ll want to know which room to stage the best in order to have a better chance of it being sold quickly. Obviously it’s impossible to renovate a room on very short notice, but playing the odds could make a big difference. Do you live in a neighborhood where the prospective buyers are Boomers? Then spend the majority of time on your living room, as that’s where almost 32% of respondents aged 55-64 placed the most value. Or perhaps it’s a neighborhood with a lot of young first-time buyers? Focus on the master bedroom, because nearly a quarter of respondents aged 18-34 picked that room.

Another interesting note: 14% of those who identified as parents said they value the kitchen the most. On the flip side, 27% of those who identified as non-parents said the same of the kitchen. There’s interesting sociological conclusions to be drawn here, we’re just not sure what. But it relates to our view that knowing your audience is key.

Always Home

The room that matters most seems to vary greatly depending on age, which also seems to have a direct correlation to how often one is at home. For instance, 21% of respondents aged 55 or older said the garage was their most valued room. It is likely that most of these folks are retirees who work on their at-home projects in the garage, which means they are at home a lot. Comparatively, the master bedroom earned the least amount of votes for that same age group. That room was most important to the 18-34 year olds, earning nearly 45% of the vote. This could mean that people in that age bracket aren’t home a lot, but when they are, they spend a lot of their time in their bedroom.

Gender Studies

Not all of the stats surprised us, however. If you guessed that women would say the most valued room to them is the kitchen, and that the most valued room to men is the living room, then you win a gold star. For women, a whopping 35% said that the kitchen was the most important space, while for men they ranked the living room as most important (29%).

Methodology

The Choice Home Warranty survey asked respondents “Which room do you value most in a home?” using the Google Consumer Surveys tool. The survey ran in April 2015 and gathered 1,101 responses. Results are weighted by inferred gender and region to reflect the population.

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