How to Insure Jewelry and Expensive Valentine's Day Gifts

Whether you’re giving your sweetheart a gorgeous diamond ring for Valentine’s Day or you’re the one who gets to wear the bling, don’t forget about protecting it with insurance. I know looping in your insurance agent may not seem romantic, but it can prevent a lot of heartaches if that expensive piece of jewelry gets damaged, lost, or stolen.

How to insure your valuables

Today, you’ll learn how to keep your Valentine’s Day gift or any valuables safe.

1. Get insured before you buy it

Anytime you’re thinking about making a big purchase, such as expensive jewelry, watches, or electronics, make sure you have a plan to insure it. Think about how devastated you’d be if you bought diamond earrings for your sweetie, and they got stolen or lost. I’m sweating just thinking about it!

Anytime you’re thinking about making a big purchase, make sure you have a plan to insure it.

Before you buy something valuable, communicate with your existing home or renters insurance representative or company. Find out if you need additional coverage—it’s likely that you do! In just a moment, I’ll give you some recommendations if you don’t already have a home or renters policy.

Let your insurer know what you’re planning to buy and how much it costs. If you’re still negotiating on price or you’re buying a second-hand item with an unknown value, start with your best estimate.

2. Get a certified appraisal

If the value of your Valentine’s Day jewelry is over a certain amount, your insurer will ask you to submit an appraisal. It must come from a gemologist who uses a variety of tools and their expertise to identify and value gems. It includes photos of your item and an estimated value.

Your insurer needs an appraisal to know precisely what they’re insuring. The document also protects you in case you need to make a claim.

The retailer who sells you a new piece of jewelry should provide you with an appraisal. However, an insurer may want an independent appraisal to verify the value. If you purchase heirloom or estate jewelry, it may not come with an appraisal.  

You can find an appraiser by getting recommendations or doing some research online. The cost varies depending on how intricate the item is and how long the work may take.

For instance, an antique ring with many stones and old-fashioned gem cuts will take longer to analyze than a brand-new diamond solitaire. For a relatively simple piece, the appraisal may cost in the range of $150 to $250. But I’ve had heirloom pieces that cost nearly $500 to appraise.

While your great-grandmother’s wedding ring or a necklace from your valentine might be priceless to you, insurers will only pay you its appraised or actual value.

It could take a gemologist several weeks to complete your appraisal, and they need to have the item in their possession the entire time. So, don’t wait until the last minute to find out what’s required to get a Valentine’s Day gift insured.

Also, note that you can’t insure the sentimental value of any item. While your great-grandmother’s wedding ring or a necklace from your valentine might be priceless to you, insurers will only pay you its appraised or actual value.

3. Don’t assume you already have coverage

If you assume you have coverage for a lavish Valentine’s Day gift simply because you have homeowners insurance, that could be a big mistake. The amount of insurance on your home is different than the amount of coverage for your personal belongings.

Most standard home and renters policies include coverage for personal items like jewelry. However, specific categories of belongings come with coverage limits or caps. Jewelry, watches, and furs typically have a low insurance cap, such as $1,000 or $2,000. If you’re a big spender, that could be a fraction of the cost of your gift.

For example, if you buy an engagement ring worth $4,000, and your homeowners or renters policy only covers $1,000, you’d come up $3,000 short of replacing it. Plus, the cap applies to an entire claim, not individual items. If you had multiple pieces of jewelry stolen, you’d only receive up to the policy limit.

Jewelry, watches, and furs typically have a low insurance cap, such as $1,000 or $2,000. If you’re a big spender, that could be a fraction of the cost of your gift.

Other types of personal belongings that have insurance caps include silverware, computers, firearms, musical instruments, collectibles, and antiques. Keep reading to learn how to make sure your expensive items are adequately insured.

4. Get an insurance rider

If your existing homeowners or renters insurance doesn’t have a jewelry limit high enough to cover your posh purchase, one solution is to “schedule it.” You’ll also hear this called a rider, floater, or an endorsement to your policy. Scheduling an item means that you add more detail about it to your existing insurance policy.

One benefit of scheduling an item, such as jewelry, is that you’re covered for all types of losses. For instance, if you accidentally lose a wedding ring swimming in the Caribbean ocean on your honeymoon, you’re covered up to your limit. When your valuables are covered by a standard home or renters policy, without being scheduled, you typically only have coverage for specific events, such as loss from a fire or theft.

One benefit of scheduling an item, such as jewelry, is that you’re covered for all types of losses.

Also, don’t forget that you must pay a deductible when you make a claim. So, if you have a $500 deductible and a jewelry limit of $1,000, the most you’d receive from a claim is $500.

But a scheduled item doesn’t require a deductible. That means you wouldn’t have to pay any amount out-of-pocket to replace a Valentine’s Day gift that gets lost or disappears mysteriously.  

Having a rider increases your premium, but it’s usually worth it. The cost might be $5 to $15 per $1,000 of insured value. So, an engagement ring that’s worth $6,000 could mean paying an additional $30 to $90 per year on your homeowners or renters insurance premium.

5. Get a stand-alone policy

Another option for insuring a precious gift is to get a stand-alone policy. This policy is separate insurance just for the item, not an add-on to an existing home or renters policy. Most insurers offer a valuable articles policy for specific items like jewelry, watches, furs, collectibles, and antiques.

Whether you own or rent your home, you’ll pay less for an insurance rider than for valuable articles insurance. The only exception would be if you have many expensive items to insure—so, shop and compare both options if you have a collection of valuables.

Most homeowners have insurance, but many renters avoid getting a renters policy because they mistakenly overestimate the cost. It’s surprisingly inexpensive; the average price is $185 per year. So, if you rent, get renters insurance first and then schedule an expensive item.

All the coverages I’ve mentioned protect your valuables at home or when they’re away from your home. Off-premise coverage kicks in when an item is stolen from your car or damaged while you’re traveling.

Additionally, home and renters insurance gives you liability coverage worldwide. It also pays living expenses, such as a hotel and meals, if you can't live in your home while repairs are made after a covered event, such as a natural disaster.

The bottom line is that if you rent and don’t have insurance, you’re putting your finances at risk. Take a few minutes to shop and compare quotes at sites such as Bankrate.com or Policygenius.com. But no matter your situation, you can always opt to insure a Valentine’s Day gift with a stand-alone policy.

6. Gift recipients are responsible for insurance

Many people are confused about who needs to buy insurance for a gift, the giver or the recipient? Well, it depends on who has the item. If you buy a gift to give, you need to have it insured while it’s in your possession.

If you have a receipt and appraisal, pass them along so the new owner has what they need to get proper insurance.

Once you give a gift away, the lucky recipient owns it and must insure it. If you have a receipt and appraisal, pass them along so the new owner has what they need to get proper insurance.

If you’re married or live together and have the same home or renters insurance policy, you don’t have to take any extra steps. But if you and your valentine have different households, the person who wears and enjoys the gift must make sure that it’s insured.

7. Keep an up-to-date home inventory

If you have home or renters insurance, but don't have a list of your personal belongings, it could be challenging to claim a loss. Imagine that your home or apartment got destroyed in a fire. Would you remember every item?

If you don’t have a home inventory, create one and add your Valentine’s Day gift to the list. At the least, have pictures or video of your belongings that you store in the cloud. While losing precious items can be devastating, the more documentation you have, the easier it will be to provide proof that you owned them and make an insurance claim.

If you got a cherished gift for Valentine’s Day or got engaged, congrats! Now make it a priority to protect it.

Source: quickanddirtytips.com

10 Proven Ways to Lower Your Car Insurance

A woman wearing a yellow shirt drives a silver car.

We’ve heard the insurance tagline over and over: “Switch and save money today.” Every insurance company claims to have the best deal. But, how can you get a good deal while maintaining the appropriate amount of coverage? We’ve got you covered—literally, and with no extra cost to you. Check out these ten ways to help lower your car insurance. 

1. Get Quotes Annually 

Insurance rates are increasing every year, so your insurance premiums will naturally increase over time. However, a huge spike in your insurance bill might mean it’s time to switch providers. Every year or two, use a car insurance quote finder to compare your current insurance rate to competitors. You can also sign up for Jerry.Ai, a tool that automatically checks for the lowest insurance rates before your policy renewal. Requesting quotes annually will ensure that your rates remain low and competitive. 

2. Bundle Your Insurance Plans

Insurance companies often offer discounts when you bundle home, auto, or life insurance. Plus, you have the added convenience of paying all your insurance on one bill. If you’re satisfied with your insurance rates, you can stay with the same company to build up discount opportunities. Some insurance companies will give discounts to their long-term customers, also known as a customer loyalty discount. Bundling and customer loyalty can help you lower your overall insurance costs. 

3. Get Rid of Insurance You Don’t Need 

Older vehicles require less insurance depending on their overall value. For example, you may not need collision and comprehensive coverage on a vehicle if its value is less than your deductible combined with your insurance premium. If you have a car that’s only worth $1,000–$3,000, you might decide to get rid of some of your insurance and purchase a replacement vehicle out of pocket in the case of an accident. If you don’t drop unneeded insurance, you can end up spending more on your premiums than what the total car is worth. 

4. Increase Your Deductible 

A deductible is the amount of money you pay out of pocket as a result of an accident. An increased deductible means lower premium rates. This is a great option for individuals who can keep enough cash savings to cover their deductible in the event of any emergency. Ask your insurance agent about raising your deductible to see how your premiums will fluctuate. 

5. Drive Safely  

This one might seem kind of obvious, but driving safely is the best way to keep your insurance rates low. Insurance providers record your driving history, including any accident reports or traffic tickets. These instances accrue points that eventually lead to increased insurance rates. Even if you switch insurance providers, companies will be able to access your driving history. Try your best to avoid speeding, running red lights, and driving recklessly. Be smart, and drive smart. 

If you do get a ticket, take a defensive driving class to get the points taken off your record. A defensive driving class is an online or in-person course created by individual states to teach drivers how to anticipate dangerous situations and make educated driving decisions. In some states, taking this class can reduce your insurance by 10 percent.

The defensive driving course may seem expensive for a single ticket, but it will end up saving you money on your insurance premiums. You can usually take driving school once a year. If you keep a clean driving record for three to five years, you could save on your insurance rates. 

6. Improve Your Credit Score

Studies show that drivers with a higher credit score are more responsible behind the wheel. Drivers with higher credit scores cost the insurance company less than individuals with a low credit score. A credit score is just another way for insurance companies to measure risk—the very thing insurance companies seek to avoid. Improving your credit score can also help you qualify for auto and home loans. Study your credit report and find ways to improve your overall credit score.

Are you looking for a way to monitor your credit needs? Check out ExtraCredit by Credit.com. It has five killer features, each specifically designed to help you out—no matter what shape your credit is in. 

Sign up for ExtraCredit today!

7. Pick the Right Vehicle 

Insurance rates fluctuate based on the make and model of a car. This is something to consider when purchasing a new or used car. A car such as a Toyota or Chevy will be significantly cheaper to insure than a Porsche. That’s because it’s less risk for insurance companies. Remember, getting a cheaper insurance premium is dependent on your ability to minimize risk for the insurance company. Picking a car brand with an affordable initial price and reasonable upkeep costs can help you save money on insurance and your vehicle in general. You can also save on car insurance by selecting a smaller car with installed safety features.

8. Choose a Group Insurance Plan 

People under the same household can create a group policy to save money. The plan will be more expensive as you add individuals to your group policy, but cheaper than if everyone was on their own insurance plan. Members of the insurance plan either need to be related or have joint ownership of the car. Each of the drivers will be insured for all the cars your family owns. Younger drivers will be more expensive to insure because of their added risk. Look for additional discounts to minimize your total group rate. 

9. Ask Your Insurance Provider About Other Discounts 

Car insurance companies often have additional discounts for specific groups of people. For example, if you are a member of the military, you can get a discount at some insurance companies. You can also lower the insurance premium for your teenage driver through a good student discount. Some other car insurance discounts include the following: 

  • Government employees and retirees discount
  • Multiple vehicle discount 
  • Homeowners discount (separate from the bundling discount) 
  • Paperless billing discount 
  • Hybrid or green vehicle discount 
  • Driver education discount for people under 21
  • Automatic payments or paid-in-full discount 

Ask your insurance provider about additional discounts to see if you qualify. 

10. Find Out About Pay-as-You-Go or Usage-Based Insurance 

If you don’t use your car often, you may be able to save on your insurance. Some companies offer a discount for driving under 10,000 miles in a single year. Other companies offer a pay as you go plan that allows you to pay a base rate and then pay per mile. These discounts could save you money if you do not have a long work commute or if you rarely use your car. This may also be a good incentive to use public transportation when possible. 

Final Thoughts

We all want to save money on car insurance, but that’s not the only factor in becoming a smart insurance customer. Before diving into savings, first determine your insurance needs and goals. Do your research to find out the difference between liability and full coverage insurance. Once you have the right coverage, you can start chipping away at your rates by following these ten tips to lower your car insurance. 

The post 10 Proven Ways to Lower Your Car Insurance appeared first on Credit.com.

Source: credit.com

6 Second Uses for Hand Sanitizer

Get Rid of Marker Stains

Whether they’re on your clothes or your counter, hand sanitizer can help you get rid of marker stains (even ones from permanent marker!) Squirt it around the edges of the stains and then work your way in, then let sit for five minutes (fabrics) to 10 minutes (hard surfaces like countertops) before cleaning. Just make sure you test the material for color-fastness, as hand sanitizer can discolor it.

Remove Scuff Marks

Have scuff marks on your shoes? It turns out hand sanitizer is one of the many things that can remove dark marks on light shoes.

Clean Household Items

Because of its alcohol content, hand sanitizer is great for cleaning household items. Try it on sinks, faucets, countertops, and other surfaces. It wipes away dirt, but evaporates quickly, so it’s even safe to use for cleaning computer keyboards.

Remove Sticky Labels

Need to remove those pesky price tag stickers on a present? Easy! Try hand sanitizer: The alcohol in the sanitizer works to de-stick the adhesive in the sticker glue. Just rub a bit into the spot and let it sit for a couple minutes, then use a coin to scrape it off. It will even work on bumper stickers!

Help Ingrown Hairs and Nails

Your on-the-go hand sanitizer can serve double-duty on ingrown hairs from shaving, as well as ingrown toenails. Rub the sanitizer on the skin in the affected area to disinfect it and eliminate the bacteria that causes the inflammation.

Use as a Deodorant Substitute

Uh-oh, you just realized you’re out of deodorant, but you don’t have time to run to the store for more. Use some hand sanitizer instead! Hand sanitizer is a great replacement for deodorant because it kills odor-causing bacteria and other germs.

For more cleaning tips around the house, check out our Cleaning Tips board on Pinterest. And don't forget to sign up for our newsletter and follow us on Facebook and Instagram!

Image courtesy of Shutterstock. 

Source: quickanddirtytips.com

The Property Brothers’ Best Small-Space Renovations for 2021

Property BrothersHGTV

Drew and Jonathan Scott of “Property Brothers” know that nearly all of us could use more space (particularly as the pandemic drags on and on). Now that the new year’s first episode of “Celebrity IOU” has arrived, they’ve broken out their top tricks for opening up a small house without breaking the bank.

In the Season 2 episode, “Rainn Wilson’s Surprise,” the Scotts meet the actor Rainn Wilson, of “The Office,” who wants to give his beloved nanny, Leslie, a living-room makeover.

Leslie’s Los Angeles home could definitely use it, given that the space is seriously dated and undeniably cramped. With her kids (and nieces and nephews) often running around the house, Wilson knows that this living space needs to be more kid-friendly, too.

Read on to find out how Drew and Jonathan open up this small living space, which might inspire some upgrades around your own home, too.

Remove kitchen cabinets to open up more space

Rainn Wilson
Rainn Wilson shows Drew and Jonathan Scott how much work needs to be done in the kitchen.

HGTV

When Wilson brings Drew and Jonathan to Leslie’s home, one of the first things the brothers notice is the kitchen’s cabinets.

The row of cabinets blocks sightlines to the living space and makes the kitchen feel separated from the rest of the house. Jonathan explains that the style is typical of the era the home was built in, but says it’s not a great feature for those who are making the meals.

“Whoever’s in there, all of a sudden, it feels like a cave,” Jonathan says.

kitchen
This kitchen was so closed off that it wasn’t functional for a house with kids.

HGTV

So, the brothers remove some cabinets and, to make up for the missing cabinet space, add smarter storage to the rest of the kitchen (like adding lots of drawers to the island).

In the end, the kitchen is beautiful, functional, and flows with the rest of the living space. Leslie will never miss those cabinets!

kitchen
With the floating shelves out of the way, this kitchen is much more open.

HGTV

Create more storage with built-in benches and hutches

storage
The brothers know that a house with kids needs plenty of storage.

HGTV

Wilson knows that Leslie and her children could always use more storage.

“One thing is, there’s a lot of kids bouncin’ around in here,” Wilson tells the Scott brothers when they first tour the house.

Luckily, the brothers have a solution to help this family organize its stuff: stylish built-ins.

hutch
This hutch created convenient storage, but it was too small.

HGTV

Drew and Jonathan add some built-in benches under the living room window, providing plenty of storage space under the seats. Then, they expand on the built-in dining room hutch, making it twice as big, for holding twice as much.

These two built-in storage solutions are perfect, because they don’t take up space, as a bulky piece of furniture would, and they leave the whole room open as a kids’ play space. It’s a great workaround for this family’s storage issue.

hutch
This larger hutch is much more convenient.

HGTV

Brighten beams to make a room seem taller

ceiling
These beams were beautiful, but the brothers felt that they were too dark.

HGTV

Jonathan and Drew like the wood beams in Leslie’s living room, but they worry that the dark color makes the room feel more closed in.

“From the moment we walked in, we noticed the dark beams and that high, recessed, rough-ridged ceiling. It was sucking the light out of the space,” Drew says.

But the color isn’t the only problem. The brothers notice that this room doesn’t have any ceiling lights, which makes this room even darker.

ceiling
Painted white, the beams brighten the space.

HGTV

So Jonathan and Drew paint the beams white and add white shiplap-style ceiling panels.

“Not only do they add brightness,” Jonathan says of the panels, “but they’re also going to be dropped down to accommodate new recessed lighting.”

In the end, not only does the new color make the space feel brighter, but the added lights literally light up the room.

Large doors make a small house feel bigger

Rainn Wilson
Wilson discusses new doors with Drew and Jonathan.

HGTV

While Leslie’s living room is laid out well, the space is relatively small. Although the brothers can’t add to the square footage of the house, Jonathan has the idea to expand the living space by improving the flow into the back patio.

“We could do something really cool with these sliders,” Jonathan says of the existing doors. “We could swap them out for, like, collapsible glass panels. They could flow in and out. It would be great.”

door
All that natural light really brightens up the living room.

HGTV

The brothers open up the walls and install large, collapsible window doors from two sides, making both the family room and dining space open onto the backyard.

To complete the effect, they update the patio by adding new flooring and new furniture. In the end, the living space feels twice as big!

patio
Two doors open up to the patio, making the living room seem far more open.

HGTV

Don’t go overboard with too much white

fireplace
This fireplace needed a new look.

HGTV

While the Scotts know that it’s important to brighten up a space, they also know that with the walls, ceiling, and kitchen all in white, the space could use some contrast. So they redo the white fireplace with a unique brown finish.

“This is just made out of marble powder, lime, and sand,” Jonathan says, as he applies a clay mixture to the fireplace face.

Some techniques, he says, come from Italy, and from different regions of Europe, but this one, from Morocco, is called tadelakt.

fireplace
With unique materials, the brothers turn this old fireplace into a modern feature.

HGTV

The light-brown color looks perfect in the space. The finish adds dimension without darkening the area, and the modern fireplace shape is much better suited to children, because there’s no mantel to climb on or base to trip over.

Best of all, this modern fireplace looks clean and elegant.

“I love that it looks like a five-star hotel,” Drew says of the new finish. “That’s the kind of feature you want to have.”

When Wilson finally brings Leslie and her family back to the house, she’s amazed by how spacious and elegant her living room looks. Let this serve as a reminder that just a few small changes can make even small spaces feel huge.

The post The Property Brothers’ Best Small-Space Renovations for 2021 appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

Student Loan Administrative Forbearance Extends Until October

If you have federally held student loans, you’re getting a break on making payments — again.

On his first day in office, President Joe Biden signed an executive order directing the Education Department to extend its freeze on interest rates and payments for federally held student loans through Sept. 30, 2021.

Here’s what you need to know.

What Is Student Loan Administrative Forbearance?

The pause on payments and interest accrual is an extension of the administrative forbearance that originated with the Coronavirus Aid, Relief, and Economic Security Act — aka the CARES Act — passed in March 2020 to address economic issues due to COVID-19.

Directed by emergency legislation designed, the Department of Education announced that all federally held student loans would be placed in administrative forbearance through Sept. 30, 2020. Interest rates were automatically set to 0% and all payments were suspended.

Then-President Donald Trump later signed an executive order to extend the administrative forbearance period until December 31, 2020, and the Secretary of Education extended those measures until Jan. 31, 2021.

Biden directed the extension yesterday amid a flurry of executive orders he signed on his first day in office.

What Loans Does This Legislation Cover?

The interest waiver covers all loans owned by the U.S. Department of Education, which includes Direct Loans, subsidized and unsubsidized Stafford loans, Parent and Graduate Plus loans and consolidation loans.

If you happen to have Federal Family Education Loans (FFEL) and Perkins loans held by the federal government, they’re covered, too. But the vast majority of those loans are commercially held, which makes them ineligible for the benefit.

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What Does This Legislation Mean for My Student Loans?

There are four things to know about how administrative forbearance affects student loans through Sept. 30, 2021:

  • It suspends loan payments.
  • It stops collections on defaulted loans.
  • It sets the interest rates to 0%.
  • Each month of the suspension will count as a payment for the purpose of a loan forgiveness program.

Note that the suspension does not mean that the federal government is making your student loan payments for you — you’ll just be free of making loan payments for eight months without accruing interest or incurring late fees during that period.

Biden did not, despite some hopes, forgive thousands of dollars in student loans in his initial executive orders. That request will need to go through Congress and faces opposition — which means if student loan balances are wiped out permanently, it won’t be for a while.

Here are five ways to know if you can benefit from the forbearance period.

Tiffany Wendeln Connors is a staff writer/editor at The Penny Hoarder. Read her bio and other work here, then catch her on Twitter @TiffanyWendeln.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

5 Renovations That Don’t Increase Your Resale Value

Couple renovating their home

The first major home renovation my husband and I ever undertook was insulating the walls of a 1921 Craftsman bungalow we shared in Columbus, Ohio. This project made the house a great deal more comfortable in the winter and the summer, since the existing insulation was the least expensive option available in the 1920s — making it completely inadequate for maintaining heat in the winter or coolness in the summer.

Unfortunately, despite the undeniable improvement to our comfort, we found that our new insulation did nothing for our resale value. Even though we had put nearly $5,000 worth of work and materials into this renovation, we didn’t see that money and effort reflected in our sale price when we had to move several years later.

Not all renovations are going to increase your resale value. That doesn’t necessarily mean you should forgo working on your home if you won’t see the value when it’s time to sell. For instance, I would definitely insulate that house again, even knowing that the money is only going to improve my comfort. 

But there are some home renovation projects that you just can’t expect to recoup your investment on. Knowing that, you should consider how long you intend to live in your house and whether you’re renovating just to increase your home’s value before jumping into any of these home improvement projects.

1. Invisible improvements

Insulating our bungalow was the kind of invisible improvement that had to be done, but didn’t appear to change the house. Unlike "sexier" improvements like updating a kitchen or bath, or even putting on a new roof, invisible improvements don’t change the look of the house. These are things like re-grading the yard to keep water from getting into the basement, updating the HVAC system, tuck-pointing bricks and chimneys, and replacing gutters.

While these improvements often have to be done to protect your house, the downside is that you may not recoup the cost of these improvements when it comes time to sell. It can be helpful to think of these renovation expenses as a way of protecting your home’s current value, rather than as a way to increase your future resale value.

2. Swimming pool

While homeowners in Arizona, Florida, Hawaii, and Southern California may find that having a swimming pool is a big selling point for their homes, this isn’t going to be the case nationwide. According to HomeAdvisor, the average cost to install a pool is over $27,000. That doesn’t include the annual maintenance costs, ranging between $500 and $4,000. It’s these maintenance costs, plus the work that homeowners will have to either do themselves or contract out in order to keep their pool sparkling clean that will turn off many potential buyers. Add in the additional insurance requirements that homeowners with pools will need to purchase, and it should be clear why many prospective buyers would rather not invest in a home that comes with a pool.

This is why you should only commit to the cost of installing a pool if you truly want to use it yourself and expect to stay in your home for at least five years. Otherwise, it might make more sense to invest in a membership to your local pool. 

3. Bathroom and kitchen upgrades

Remodeling your bathroom and/or kitchen is an excellent way to increase your home’s value, right? Yes and no. While replacing dingy tiling and updating old appliances will definitely help your home shine for potential buyers, there’s such a thing as going overboard with your bathroom or kitchen upgrades.

Specifically, if you add granite countertops, custom-made cabinets, stainless steel appliances, and ceramic tiles to your kitchen and bathroom, but the rest of the home is still an ordinary suburban home, potential buyers will see the house as a work-in-progress, rather than a home that feels move-in ready. Over-improving the bath and kitchen could make buyers think that it’s not worth the effort to try to get the rest of the house to match. (See also: 9 Home Improvements You Should Always Negotiate)

4. Built-in high-end electronics

We may all dream of living in a George Jetson house — where every possible electronic need you have is already built in — but committing to this kind of renovation may hurt your resale value. 

There are a couple of reasons for this. First, while your personal movie theater (with remote-controlled state-of-the-art projector) may be exactly what you want from your home, a potential buyer may just see a room that will need to be torn out and remodeled as soon as they move in. Plus, technology advances at a breakneck speed, so your cutting-edge electronics will soon look as dated as shag carpeting and harvest gold refrigerators.

If you need or want built-in high-end electronics in your home, make sure you’re installing them for your own pleasure and comfort, because it’s unlikely a buyer will appreciate them too.

5. Extravagant landscaping

Making improvements to your landscaping requires a gentle touch. On the one hand, landscaping is often touted as an important aspect of curb appeal, and making sure your yard and garden look attractive and welcoming is certainly a great way to draw in potential buyers. 

On the other hand, an elaborate landscaping remodel can turn off buyers. Those with black thumbs might look at your vast flowering garden with sculpted shrubs and pond and decide they are not up for the challenge of keeping it up, and those who do love to garden might not like your vision and want to start over.

If recreating the gardens of Versailles is how you make your house feel like a home, then there’s nothing wrong with investing in this kind of renovation. But make sure you’re doing this kind of work for yourself, and not because you hope to make back the money you spent once you’re ready to sell. (See also: 14 Ways to Make Your Yard Look Awesome for Under $100)

Renovate for the right reasons

While many experts focus on resale value as the deciding factor on whether to take on a home improvement project, the important thing to remember is that you live in your house now. Deciding which home renovations to work on based on what someone else might like is the way madness lies.

When you make improvements to your home, make sure you take your own comfort, your plans for living in the home, and the potential resale value into consideration. They all matter.


Source: feeds.killeraces.com

How To Create A Budget Friendly Spread For Fourth Of July

Nothing says summertime like a BBQ, and getting friends and family together for some food and friends for the Fourth of July is the perfect way to celebrate. I’m usually the host for these get-togethers, and even though I absolutely love having people over, feeding everyone can take a toll on your budget, especially with a big family like mine.

Now that I’ve been using Mint to keep track of expenses, here are some tips on how to have a cost-conscious Fourth of July spread:

1) Declare the BBQ a Potluck.

There’s no secret here: potlucks save money AND time. When you invite your guests to bring dishes to the party, that basically means they’re not only helping out with the food budget, they’re also taking the time to shop for the ingredients and deliver it to your house ready to eat! I would suggest setting some guidelines for your guests so that there is a variety of food in your spread and not just 5 versions of chips and salsa….and that’s it. To divide up the dishes, you could try a few different methods:

  • Assign your guests by categories. If there’s an easy way to divide up your guests, like by their last name, or their birthday month, then you could assign one set of guests appetizers, and another set of guests foods for the grill, for example. For this option, I would suggest asking your guests to confirm their choice with you and even post it on a message board if you are using a website to plan your party, so that you know and your other guests what’s coming and to avoid too much of one type of food.
  • Ask guests to bring specific foods. If your best friend makes the most amazing potato salad, and you need potato salad, ask your best friend to bring potato salad. There’s no need to do all the work when you can tap into the strengths of your guests. For those who are known to shy away from cooking, ask them to bring something simple like a salad or lemonade.

2) Set a food budget….and stick to it!

This tip comes directly from my previous post on Healthy Food on a Budget because it’s also important to serve your guests healthy food and stick to your budget. Just because it’s a party doesn’t mean you should let your health and your money slip up! It’s easy to set up budgets in Mint, like saving for a vacation, but you can also set up smaller budgets like for a summer BBQ celebration. Ideally, since you’re having everyone over for a potluck, this get-together won’t take a huge toll on your wallet, but it’s still important to set limits for what you can spend. I like to make it a fun challenge to see how much money I can save and get the most bang for my buck, while not cutting corners on the quality of food served for my guests.

3) Check out the weekly sales ads.

Don’t throw away those ads because right before Fourth of July, the mail will be filled with sales on foods for entertaining. Gather those ads up to look through what’s on sale for the week and map out your menu from those hot buys. If you have apps for your favorite stores, check those out too because I’ve seen in-app coupons that weren’t in the print ads that have saved me some money. Once you cross-reference the sales and build your shopping list, also plan out where you will shop from. If you have to travel from 2 different stores to save $15 dollars, I think it’s worth it to take the time to shop smart. Sure, it may take an extra 15 minutes, but I can bet that you’ll feel a lot better to have that extra money in your wallet.

4) Pick a dish that saves you money and time.

As the host of the party, you’ll be pretty busy with all the details of the day so your time on the day of the party will be limited. From cleaning up the house to setting up the grill, there’s plenty to do before guests show up. The last thing you want to do is prep a labor-intensive dish when there is so much more on that to-do list. To save money and time, I like to serve up a dessert dish that brings a wow-factor to the party, my Banana Boat S’mores. These delicious treats light up the eyes of all my guests, and if they knew how cost-effective they are, they’d light up even more!

To save money, I like to use fruit for dessert, especially in the summer season, because they’re more affordable, easier to prepare, and most importantly, they’re healthier! Bananas are only 19 cents each, so just make sure to have at least one banana per guest. I also know that marshmallows and Graham crackers are always on sale for $1 around this time of year, so already, this is a dish that costs less than 50 cents per serving.

To save time, I like this dish because you can have your guest prep their own Banana Boat. All you have to do is set up a station of the ingredients and let them make their creation as they please. When you get your guests involved in the food preparation, you’re saving some valuable time on your end, but also your guests are having fun! They’ll leave your party with another recipe under their belt as well, so it’s a win-win for everyone.

5) Buy your food in bulk bins.

Don’t pass up those bulk bins on your shopping trip, because buying from these can be 30-40% cheaper than packaged branded items. For the chocolate, I paid per ounce from the bin instead of buying packages. Since I’m setting up a station for my guests at my own home, I don’t need the packaging or extra chocolate so why should I pay extra for it? Half a pound only costs $2, whereas if I were to buy a bag or a bar it would cost me close to $5.

With these tips on how to have a cost-conscious Fourth of July spread, I hope you can spread out your budget and use some of that money you save on other fun activities this summer!

The post How To Create A Budget Friendly Spread For Fourth Of July appeared first on MintLife Blog.

Source: mint.intuit.com

How to Find a Home in ID

Idaho has some of the best potatoes in the world, but it has more to offer than just that. It’s also dubbed the Gem State, with over 70 precious and semi-precious stones found within its bedrock and streams. The real gems of Idaho are its national parks, friendly people, and a range of real estate deals for buyers looking to maximize value without breaking the bank.

Finding an amazing home in Idaho is easy if you know what to look for and have the top tools and professionals on your side.

What to Look for in an Idaho Home

In Idaho, you can have your pick of beautiful homes and properties with stunning natural backdrops. To narrow down your list, you may want to keep a few things in mind.

Proximity to Employment

The capital of Idaho, Boise, is a major draw for many homebuyers due to its impressive list of corporate and boutique employment opportunities. If you’ve already landed a job at a powerhouse like Boise’s Micron, Hewlett-Packard, Clearwater, IDACORP, or St. Luke’s you will want to look for a home in or around the Boise area. If you haven’t scored a job yet, being close to the city can only help your search and prospects.

With the Homie app, you can narrow down your search using the city or town of your current or future job. Whether you are looking in Boise’s Bench or North End, Garden City, Meridian, Nampa, Caldwell, Kuna or some other area, you can find what you are looking for. You can then collaborate with a Homie agent to decide which homes you may want to make an offer on in Boise.

The Lot the Home Sits On

Even though much of Idaho’s real estate sits on predictable, easy-to-manage land, in some cases, a property could have hidden issues. Keep an eye out for the following when evaluating where your home sits:

  • Setback regulations that may limit where and if you can put on an addition
  • Easements put in place that may limit what you can do
  • How fences, hedges, trees, and other things at the edges of the property sit in relation to the actual, registered boundaries of the lot

Check the Available Utilities

Particularly in the more rural areas of Idaho, you will want to double-check the utilities at your disposal. In the more urban sections of the state, you may have multiple options for handling sewage, as well as heating your home. However, other parts of the state have far fewer choices. It’s best to decide ahead of time how you will deal with:

  • A septic system instead of a town sewer
  • Limited heating fuel options—and the extra expense that may involve
  • Getting a back-up energy source in case there’s a blackout due to a storm and crews are delayed in fixing it

In most cases, any inconveniences can be overcome with a little planning. The more rural sections of Idaho more than make up for it with their natural beauty.

Energy Efficiency

Idaho’s temps can dip below zero degrees Fahrenheit in the winter and push the mercury above 100 degrees in the summer months. To keep comfy, whether you want to be cozy or cool, it’s important to try to find a home that’s energy-efficient. Focus on both the insulation and the mechanical system.

If there’s no information available for the insulation used in the home, you can often gauge its efficiency based on the thickness of the walls. Two-by-six construction tends to be better at maintaining inside temps than two-by-four walls. Likewise, single-pane windows allow more heat loss or gain than a modern dual pane window filled with argon. A quick trip to the attic can reveal the kind of insulation between the roof and living spaces below.

The Importance of Using an Agent

Enlisting the assistance of a Homie agent can make the buying process easier and save you thousands of dollars, not to mention peace of mind. Here are some of the top advantages of using a Homie agent instead of trying to DIY your home purchase.

Getting the Best Deal

Making the right offer is a fine art and skill. Often, a homebuyer may have a number they think reflects the value of the home, but even a thoughtful figure may be skewed by a number of subjective factors. With an agent from Homie, you’ll get a dedicated professional that knows the local area, how its prices have fluctuated over the years, and how well homes tend to hold value.

A local agent from Homie also knows how long properties tend to stay on the market in a given area, as well as the infrastructure and municipal projects in the works that may influence the value—present or future—or a home. With this store of data and insights, a Homie agent can help you nail the best offer and earn you a great deal.

Work With Experienced Professionals

When you work with Homie, you not only get to work with some of the top agents, but Homie also helps you find the best providers for all your needs through Homie Marketplace. The Marketplace is a list of partners that we know do amazing work in things like home inspections, warranties, and moving services.

Finding trusted professionals for each part of the home buying process is essential. A good home inspector will tell you what types of repairs your potential home needs. This important information to have so your agent can help you negotiate a fair price.

You’ll also want a good home warranty to protect against any unexpected issues that might come up after you move in. Instead of hunting all over the place to find each of the providers you need, our Homie team will help connect you with the right people.

Familiarity With Legal and Paperwork Requirements

There’s a lot more to buying a home than writing a check and grabbing the keys. The legal landscape can get tricky, particularly when it comes to the paperwork. Even well-meaning sellers can include clauses in the contract that could put you at a disadvantage.

Work With a Homie

If you’re digging for an Idaho real estate gem, a Homie professional can help you as you prospect for your prize. Whether you’re looking for the perfect starter home, an upgrade as your family grows, or a lovely investment property, your Homie agent will help you score a great deal and have a smooth process. Click here to start working with Homie to find your Boise home today!

For more tips on home buying, check out the articles below!

4 Ways to Outsmart the Competition When Buying a Home
5 Tips to Help You Afford Your First Home
Common Home Buying Fears and How To Overcome Them

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The post How to Find a Home in ID appeared first on Homie Blog.

Source: homie.com