No Regrets for Most Homeowners
Even amidst the backdrop of a difficult economy, 90 percent of homeowners say they do not regret purchasing their current home, according to a recent survey by Bankrate. Of the owners who do regret buying their homes, the most common reasons were because they could not sell their home or they could not afford the monthly mortgage payments.
The survey also finds that fixed-rate mortgages are becoming more popular. Nearly four out of five homeowners (79 percent) say they have a fixed-rate mortgage for their home, and 90 percent of owners who earn more than $75,000 annually say their
home was paid for with a fixed-rate mortgage.
A growing number of Americans are more knowledgeable about mortgages. Only 8 percent say they do not know what type of mortgage they have, down from 26 percent who said so two years ago.
Air Conditioner Stat
About two-thirds of U.S. homes (65 percent) currently have central air-conditioning and another 21 percent have window units. By contrast, only 17 percent of U.S. homes had central A/C in 1973.
Source: 2009 American Housing Survey
Home Buyer Must Haves and Turnoffs
When shopping for a new home, homebuyers tend to look for space, and lots of it. According to a May 2010 survey by ZipRealty, a garage or parking space is the most sought-after home feature, followed by a master suite, ample storage space, walk-in closets and a guest bedroom. A home located on a quiet cul-de-sac is more likely to appeal to families, while a location on a busy street may be a turnoff. Other buyer turnoffs are structural damage, bad odors, and an awkward floor plan.
The top ten most sought-after home features are:
1. Garage or parking space
2. Master suite
3. Ample storage space
4. Large or walk-in closets
5. Guest bedroom
6. Outdoor entertainment area
7. Gourmet or updated kitchen
8. Breakfast room or eat-in kitchen
9. Large yard
10. Wood floors
Source: ZipRealty
Kitchen Design Trends
Even as homebuyers look to downsize their homes, kitchens are taking up a larger percentage of the overall floor plan. Once-popular home theaters and dining rooms are making way for larger kitchens, according to design experts with General Electric.
The kitchen has become the new living space, and it’s expanding in both size and comfort to accommodate everyday life and entertaining,” says Marc Hottenroth, manager of GE Appliance’s Industrial Design Organization. “The attention to detail that once went into the selection of the leather sofa, plasma TV and Oriental rug in the family room is now going into the selection of appliances, countertops and accent lighting.”
Kitchen islands and dedicated work spaces for special hobbies, such as wine tasting or baking, continue to grow in popularity. Homeowners are creating custom work spaces with under-counter refrigerator drawers and wine refrigerators.
For busy families that want faster cooking and easier clean-up, induction cooktop stoves are a popular choice. Induction cooktop stoves boil water faster than gas or electric cooktops, and spills are easier to clean because they don’t cook onto the stovetop.
Stainless steel is still the finish of choice for appliances, but homeowners also are choosing more energy-efficient models. Another design trend for 2010 is the creative use of lighting, such as combining overhead can lighting with accent lights to highlight design elements.
Whether it’s adding a custom work space, highlighting design elements with light or creating comfortable living spaces within the kitchen, homeowners are finding creative ways to design the kitchen to suit their day-to-day needs.
Eco Smart
Turning down the thermostat and switching to compact fluorescent bulbs are easy but common ways to make your home greener. Here are a few additional greening tips and tricks that may have never crossed your mind.
Over the top. A refrigerator with a freezer on top uses 10 percent to 25 percent less energy than one with a side-by-side or bottom-mounted freezer.
Power up. Plug appliances and electronics into a power strip rather than an outlet. Devices plugged directly into the wall leak up to 15 watts of electricity even if they’re shut off.
Dish it out. Hand-washing dishes might seem better for Mother Earth than using the dishwasher, but it’s actually more wasteful. You’ll use up to 35 percent less water by filling up the dishwasher with dishes that aren’t pre-rinsed instead of washing by hand. You can also conserve energy by skipping the dry cycle — just open the dishwasher’s door when the cycle is done to air dry.
Don’t tank. Invest in a tankless water heater that will heat water instantly on an as-needed basis, instead of one that must constantly keep your water warm. They can be expensive—prices range from just under $200 to more than $1,000—but it will help reduce energy costs in the long run and reduce water loss. Don’t want to buy one? Be sure to insulate your pipes for a good reduction in heat loss.
I Scream You Scream, We All Scream for Ice Cream
July is National Ice Cream Month. More ice cream is sold on Sunday than any other day.
Last Resort
When life gets hectic, you might find yourself daydreaming of calming tropical beaches, but unfortunately, sometimes it’s just not that easy to get away. That’s why it’s important to create a no-frills retreat in the most accessible place, no passport required: your home.
Add to the relaxing ambiance by painting the walls a soothing color. Experts recommend pale blues and greens or neutrals such as taupe, beige or brown. Avoid jarring, energetic shades such as bright yellows or reds. If you do add color, keep it monochromatic so vivid contrasts aren’t distracting.
About.com suggests finding a quiet corner to designate as your in-house oasis. Even if it’s not an entire room, be sure your in-house oasis has a different feel than the rest of the house. (If it’s just a section of a room, invest in a lightweight screen to separate it from the rest of the area.) Make sure it’s away from technology, including telephones, computers or the television. (And resist the urge to check work e-mail or bring your BlackBerry.)
Next, get rid of clutter. Then set up a big, comfy armchair and a small table that’s just big enough for a steaming mug of tea, perhaps a plate of food and a lamp. Less is more when decorating for stress relief. Add serene family photos to the walls so you’ll be surrounded by the ones you love, and consider placing candles in the area. Choose scents such as lavender, sandalwood or sage, which can have a calming effect on the mind and body.
Play Nice
In sometimes-complicated relationships between residents and their condo or homeowner associations, neighborly love can go only so far. When it comes to association decorum, the more you know about the CC&Rs (covenants, conditions and restrictions), the better. It’s the homeowner’s job to reinforce these governing rules and regulations, which can easily pit residents against association members. Here are a few hot-button issues that, according to Realty Times and Condobenefits.com, are important to keep in mind:
Pets. Many condominiums restrict the permitted size and number of pets, if they allow them at all. Check in with the head of the association before bringing any four-legged friends home, and take note of any restrictions — such as the proper way to clean up after your pets and whether they’re allowed to stay outside for any period of time.
Parking. Take note that beyond your four walls, the land is not all yours — including your driveway. What are the parking restrictions for residents? For guests? Have the conversation before guests arrive to ensure that vehicles are out of fellow residents’ way. Keep in mind that many condos limit the number of cars to reflect the number of residents in the home.
Maintenance. There are two areas to consider: What does the association take care of, and what are your responsibilities? Typically, condo owners can rely on workers hired through the condo association to help maintain the exterior of their home, including painting, roof repairs, lawn maintenance and trash collection. But depending on association rules, sweeping your porch by Tuesday afternoon each week or setting the trash on the curb (not the end of your driveway) before Monday morning might be mandatory. Find out the specifics to avoid future headaches.
Fees. All associations have monthly or annual fees that residents must pay, but dig a little deeper and find out what happens if you accidentally break a rule. The last surprise you want is a letter stuck to your door telling you to pay up or risk eviction. Additionally, keep in mind if your building is due for a code upgrade — every five, 10 or 20 years, condo associations can charge residents large fees written into the minutiae of the CC&Rs.
Buring Calories While Doing Housework
One hour of gardening burns 256 calories while one hour of cleaning gutters burns 320 calories.
Source: Fitness Magazine
Color Correct
The look of your home’s exterior can make a strong first impression, enhance curb appeal and help boost resale value, but choosing the right color can be tricky. The paint experts at Sherwin-Williams offer several helpful hints for selecting the best color for your home’s exterior.
First, examine homes in different neighborhoods to get an idea of how residents apply color to their own homes. Note the most appealing color schemes in the area and consider adapting them to your home. Choose a scheme that blends well with homes in your current neighborhood or subtly stands out.
Landscaping elements, such as flower gardens, flowering shrubs and trees that change color, can affect your color choice. For example, heavily wooded lots will make colors appear darker due to the shade, and the foliage tends to camouflage the home.
Elements of your home, such as roofing shingles, brick or stone accents, often have varying shades and hues that can serve as the foundation of your paint color choices. For example, a charcoal gray shingle could have flecks of gray-blue or gray-green that you can incorporate into the color scheme.
Be sure to examine color samples outdoors at various angles and at different times of the day. Consider buying small quantities of paint in desired colors and paint a section of the house where the body, trim and accent colors can be seen together.
Pay attention to the direction and intensity of the sun. Intense sunlight can wash out colors. While brighter colors may be suitable in Sunbelt cities, lighter, neutral tones often work better in other locales. Tinted and mid-tone neutrals are popular because they play off landscaping and other building materials.
White or light colors make a large home on a small lot appear even larger, while dark colors tend to make the same home look smaller but more substantial. Remember, light colors advance in space while dark colors recede. So if a home is located far from the curb, painting it a light color will make it look more prominent.