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Home > Archives for August 2024

Archives for August 2024

Organizing These 4 Areas Will Make the Most Impact in Your Home

Get your priorities straight and organize these spots first.  By Amanda Lauren

Finding time to organize your home can be a challenge because there are only so many hours a day. Whether you have family or work obligations or are simply going through a busy season, decluttering and reorganizing every single space in your home might not be realistic. That’s why it’s crucial to prioritize and start with projects that will make the biggest difference in your daily life. Here are four areas of your home that you should organize first to make the most impact on your home and your routines.

The Kitchen

Whether you’re a family of two, three, or ten, everyone has to eat. So, starting with the kitchen is a smart move. Lindsey Mahanna, professional organizer and founder of Clutter to Clarity, recommends beginning with the pantry. “This space can get out of hand quickly,” she says. “What expired foods are hiding in the back? How many boxes of macaroni and cheese do you have scattered throughout? How much money have you wasted buying duplicates that are now going to expire before you use them?” These questions can help you assess and edit your pantry clutter.

Next, move on to the refrigerator. Get rid of expired foods or any condiments you regret purchasing (like that chili-flavored mustard that didn’t meet your expectations).

Lastly, declutter and reorganize your cooking gadgets and pots and pans. Keep what you’ll really use but let go of things like that tiny egg pan that lost its non-stick coating six months ago. 

The Laundry Room

Doing laundry can be a hassle, but Katie Dills, brand president of The Cleaning Authority, says that reorganizing your laundry room can make the task more pleasant. “Since most people use the laundry room at least once a week, tackling the organization of this space is worth it, especially considering that today’s laundry rooms are designed to invoke an airy, pleasant feeling,” Dills says. “Even though they may have improved in appearance and location, they still get dirty, messy, and cluttered.”

Start by sorting through bottles of detergent with just one use left (either prioritize using them or throw them out), toss those empty boxes of dryer sheets, and say bye to that scent booster that made you sneeze. 

Another good thing about organizing your laundry room is that it’s relatively easy and shouldn’t take too long. You can use that feeling of accomplishment to motivate yourself to tackle other organizing projects.

Entryway Spaces

Whether you enter your home through the front door or a side mudroom, these high-traffic spots tend to become cluttered and messy, especially for families with children. “If it’s a family with kids who are always on the go, I suggest focusing on the entryway they use the most, like a back door or mudroom, so that when they are coming and going, there is a space to keep all the things they need when they are outside of the home,” says Angela O’Brien, professional organizer and founder of Your Space Reclaimed.

She advises re-evaluating your storage situation in these areas. “Are there hooks at eye level for the kids to hang backpacks?” she says. “Is there a designated spot for easily misplaced but essential items, like wallets and keys, by the door? This can help set the family up for easier transitions when they’re rushing to soccer or ballet.”

Consider purchasing an entryway bench with built-in storage, hooks, and cubbies so there’s always a designated spot for everything. This will help you stay organized for the long term. 

Bedrooms

Silvia de Denaro Vieira, CEO, and co-founder of the home management app Coexist, says that a disorganized bedroom can affect your sleep, which impacts so many other areas of your life. “Look around your bedroom and see how you might be able to make it a peaceful haven for a restful night’s sleep,” she says.

Start by decluttering obvious messes like that pile of clothing on the floor. Then, sort through stacks of books and try to get rid of anything that isn’t decorative or essential on dressers and nightstands. Once you’ve taken care of all the clutter that’s out and visible, you can move on to tackling the closet, since that will help you get ready more easily every day.

Renting vs. Buying: Weighing the Pros and Cons

Should you rent or buy a home? It’s a question many people face at some point in their lives. The decision can significantly impact your financial stability, lifestyle, and overall well-being. To help you make an informed choice, let’s explore the key advantages and disadvantages of renting and buying a home.

Renting a Home

Pros:

  • Flexibility: Renting often offers more flexibility, allowing you to move more easily if your job changes or personal circumstances require it.
  • Lower upfront costs: Renting typically involves lower upfront costs compared to buying, as you don’t need a down payment or closing costs.
  • Minimal maintenance: As a renter, you’re generally not responsible for major repairs or maintenance, which can save you time and money.
  • Lower financial commitment: Renting can be less financially risky, as you’re not tied to a long-term investment.

Cons:

  • No equity: Renting doesn’t allow you to build equity in a property, meaning you won’t have anything to sell or refinance in the future.
  • Limited control: As a renter, you have less control over your living space and may be subject to the landlord’s rules and regulations.
  • Rent increases: Rent prices can increase over time, making it difficult to plan for long-term housing costs.
  • Lack of stability: Renting can provide a sense of instability, as you may not have a permanent place to call home.

Buying a Home

Pros:

  • Equity: Buying a home allows you to build equity, which can be a valuable asset for your financial future.
  • Stability: Owning a home provides a sense of stability and can be a great place to raise a family.
  • Tax benefits: Homeowners may be eligible for tax deductions, including mortgage interest and property taxes.
  • Control: As a homeowner, you have more control over your living space and can make modifications as needed.

Cons:

  • Higher upfront costs: Buying a home typically requires a down payment and closing costs, which can be significant upfront expenses.
  • Maintenance costs: Homeowners are responsible for maintenance and repairs, which can be costly and time-consuming.
  • Financial commitment: Buying a home is a significant financial commitment and can be risky if you’re unable to afford the mortgage payments or if the housing market declines.
  • Limited mobility: Selling a home can be time-consuming and expensive, making it more difficult to move frequently.

Ultimately, the decision of whether to rent or buy depends on your individual circumstances and goals. Consider factors such as your financial situation, lifestyle, and long-term plans. It may be helpful to consult with a financial advisor or real estate agent to get personalized advice.

Would you like me to elaborate on any of these points or discuss additional factors to consider?  Contact me to discuss further! 

7 Essentials That’ll Make Your Outdoor Space Extra Cozy, According to Designers

Your deck or patio deserves the same attention you give to your interiors.

Outdoor living spaces can serve so many purposes. Your deck or patio could become the perfect spot to enjoy your morning coffee, an al fresco home office, a gathering place for friends a family, and much more. The amount of time you spend out there, however, could be determined by how much time you’ve spent thoughtfully designing your outdoor living area. Whether you have an old-fashioned Southern front porch, a suburban patio, or a city balcony, these spaces deserve the same attention you give to your interiors. So, here are seven things you need to curate the perfect outdoor living space, according to designers.

Comfortable Seating

No matter the size of your outdoor space, having a comfortable spot to sit is essential. Lisa Brooks, principal designer at Southpark Interiors, suggests going with a modular furniture set because it will be the most versatile option. “Opt for armless chairs that can be pushed together to create a larger seating area, and include a few smaller tables or nesting tables, rather than a larger coffee table, to create a cozier conversation area,” she says.

On the other hand, if you plan to use the space mostly for meals, a dining set may be a better choice. Just make sure the chairs are plush and comfortable.

But, if you’re using your patio or deck primarily for lounging, Jodi Berger, owner and principal designer of JLA Designs, recommends adding a swing or a rocker for peak relaxation. “It adds a fun, unexpected element and enhances the serenity these outdoor spaces are all about,” she says.

Pillows

Don’t forget to accessorize with some outdoor pillows. They can easily add color and style to any of your outdoor furniture. Whether you choose small pillows to accessorize a lounge chair or large pillows that double as extra seating on the floor, they’ll make your space feel much more comfortable and inviting.

Thoughtful Lighting

It’s hard to enjoy your time outside if you can’t see anything. Katie Browning and Heather Lucas of Lucas Browning Design suggest adding café lighting around your deck or patio. “Café lights provide soft, warm illumination that invites you and your guests to spend more time outside, even after the sun goes down,” Browning says. “They create a charming, ambient glow perfect for evening gatherings.”

Alternatively, consider installing sconces on the exterior of your home if you’d prefer a more permanent installation. You can also combine light sources with a few different options, including floor lanterns and portable table lamps.

15 Outdoor Patio Lights at Amazon That’ll Make Your Backyard the Ultimate Hangout Spot

A Fire Pit

A fire pit might sound extravagant, but it’s a great way to enjoy your patio or deck during the colder months, according to Nicole Hirsch of namesake design firm. “In our new construction homes, we always try to plan for a custom gas fire pit that sits within the seating area,” Hirsch says. “Being in New England, having a fire pit that emits lots of heat allows you to utilize your outdoor space for a much longer period of time.”

Keep in mind, you don’t need to get something custom or built-in. Amazon has plenty of affordable options that can work in smaller spaces.

The 9 Best Wood-Burning Fire Pits of 2024, Tested and Reviewed

Speakers

Music can set the perfect mood for any outdoor occasion. “Invest in good quality outdoor speakers to bring your favorite tunes outside, whether you’re hosting a lively party or enjoying a quiet evening alone,” Lucas says. It’s a great way to add ambiance, especially if you live in a noisy city.

While hardwired speakers are ideal, a portable Bluetooth speaker can also get the job done at a fraction of the cost and effort.

Plants and Flowers

Even if you don’t have room for an entire garden, Brooks strongly recommends adding extra greenery and color with outdoor plants and flowers. “Get creative with your outdoor plants,” she says. “Mixing and matching pots of different shapes, sizes, and heights creates interest and allows you to bring a vignette of greenery and florals into any area of your outdoor space. Mix greenery, succulents, and regional plants to create a unique greenscape.”

The Easy Beginner’s Guide to Container Gardening

An Outdoor Rug

Want to elevate your deck or patio without taking up any extra space? An outdoor rug can work like magic. Outdoor rugs have come a long way in recent years and are more stylish and durable than ever. It’s also a fantastic way to try out a design trend, such as a scalloped edge or a specific color, into the space without entirely swapping out your furniture or cushions.

Saving for a House?

By Lara Vukelich

Buyers may hear they need a 20% down payment to buy a home, but that’s not set in stone. Many mortgages require as little as 3% or 3.5% and some have no minimums.

SOUIX CITY, Iowa – You might have heard you’ll need a 20% down payment to buy a home. While there’s a reason that number seems standard, 20% isn’t set in stone. Many mortgages require borrowers to put down as little as 3% or 3.5%, and some loans don’t have minimums at all.

The median sale price of a home in the U.S. in the first quarter of 2024 was $335,500, according to real estate data provider ATTOM. During that same period, the median down payment was $26,700, or 8% of the median home price.

Other data suggests a higher percentage, though. In its “2024 Home Buyers and Sellers Generational Trends” report, the National Association of Realtors® found the median down payment among all buyers (some 6,817 new homeowners) to be 15%. That’s similar to ATTOM’s monthly “United States Real Estate Overview,” which for May 2024 puts the national median home sales price at $384,375 and the median down payment at $60,202, or 15.6%.

As home prices have risen, so have loan amounts. In the first quarter of 2024, the median mortgage on a single-family home was $329,800, up over 7% year over year, according to ATTOM.

Conversely, down payments in relation to mortgage sizes have declined: The $26,700 in Q1 2024 has dropped nearly 21% from $33,750 in Q4 2023.

Just as home prices vary widely across the U.S., down payment amounts vary by location. The higher down payments tend to be concentrated in higher-cost states like California, Hawaii, Massachusetts and Washington.

When you don’t have 20% for a down payment

The minimum amount you’ll need for a down payment depends on the cost of the home and what type of mortgage you get. The minimum requirements range from no down payment at all to 5%.

Many borrowers put down more than the minimum, either through savings, gifts or down payment assistance.

In fact, 14% of current homeowners used a financial gift from family and friends for a down payment for their first home, while another 14% used an assistance loan or program for first-time buyers, according to Bankrate’s recent Down Payment Survey.

The more you put down, the less you’ll need to borrow and the less you’ll pay in interest. You’re also more likely to get a better interest rate on your mortgage. A bigger down payment also translates to more equity in the home to start – a tappable asset, as well as a potential safeguard against declines in home values.

If you’re getting a conventional or FHA loan and can put down at least 20%, you’ll also avoid the requirement to buy mortgage insurance, an extra expense on top of your monthly mortgage payment.

That said, there is a case to be made for a smaller down payment, even if it means paying mortgage insurance.

If you’ve been renting for a while and have limited savings, pulling together at least the minimum down payment might be preferable to continuing to rent, especially if your housing needs have changed.

Frequently asked questions

What is the typical mortgage down payment for first-time homebuyers versus repeat homebuyers?

As of 2023, the typical mortgage down payment for a first-time homebuyer was 8%, while the typical down payment for a repeat homebuyer was 19%, according to the National Association of Realtors®.

How can I avoid paying for mortgage insurance without making a 20% down payment?

If you’re putting down less than 20% on a conventional loan, you won’t be able to completely avoid private mortgage insurance. A few mortgage lenders off er “no-PMI” mortgages. While you won’t have to pay for PMI with these types of loans, you will pay a higher interest rate, which could end up costing you more over time than the insurance premiums.

Another possible solution: a piggyback mortgage. You’ll finance 80% of the home’s price with one mortgage, take out a second mortgage for 10%, and then come up with the remaining 10% in cash. That second mortgage, plus your 10% contribution, in effect gives you a 20% down payment – so you avoid PMI. If you’re a first-time homebuyer, you might get a break on PMI anyway. Many first-time buyer programs come with reduced premiums.

How can I fund a down payment?

The most common ways to fund a down payment include saving, using a gift from relatives or friends or getting a grant or some other form of assistance. Some buyers borrow or withdraw funds from retirement accounts or sell investments.

No matter how you get your funds, just be sure to have them in your bank account for a minimum of two months before applying for a mortgage. If not, you’ll likely need to provide extra documentation to prove where the money came from.

Mortgage Rates Decline to Lowest Level in Over a Year

Freddie Mac Mortgage Rates—August 8th, 2024

What happened to mortgage rates this week

The Freddie Mac rate for a 30-year mortgage declined by 0.26 percentage points to 6.47% this week, the lowest level since May 2023, as 10-year Treasury yields dropped into the 3.7% – 4% range since the prior week’s survey. The strong downward trend in 10-year yields has been driven by two primary factors. First, the market has priced in rate cuts in September and December due to recent positive inflation readings. Second, July’s unexpectedly low employment reading has led some investors to believe we may already be in a recession so they have sought safety in the bond market. This move towards bonds has driven down 10-year treasuries to lows not seen since last year, and thus mortgage rates have fallen.

What it means for the housing market

How much has the drop in mortgage rates saved borrowers since they hit their peak in October 2023? Using a median listing price of $440,000, the monthly interest and principal payment would have been $2,532 back in October 2023, assuming a 20% down payment and 7.79% mortgage rate. That payment with today’s rate of 6.47% would be $2,218 – a savings of over $300 per month. 

As a result of these recent declines, mortgage rate relief is arriving quicker than many expected, and the recent downward trend is encouraging news for potential homebuyers who have been waiting until next year to participate in the market. In addition, the increase in affordable inventory may be enough to draw in some of the buyers to the market this fall, leading to an uncharacteristic bump in the market during a time that normally sees seasonal cooling. Looking ahead, we expect this year’s elevated inventory to be able to absorb an unexpected demand that may come from falling mortgage rates this fall, and as such, we don’t expect home price growth to deviate much, if at all, from a stabilized trajectory.

WM and Okaloosa County School District offer back-to-school safety tips

As the new school year approaches, Waste Management (WM) and the Okaloosa County School District are reminding the public about the importance of road safety, particularly around school buses and waste collection trucks.
WM, emphasizing that safety is their top priority, has issued a set of truck safety tips for the community. Mark Noel, WM Gulf Coast Area Director Environmental, Health and Safety, stated, “At WM, our professional drivers approach each and every day with a safety-first mindset. Let’s work together to all do our part to help maintain a safe environment for students traveling to and from school.”
  • The company advises maintaining a safe distance of at least 15 feet from their trucks and being alert to back-up alarms and white back-up lights. They caution that service vehicles can take twice as long to stop as passenger cars and make frequent stops, often backing up.
Meanwhile, the Okaloosa County School District, preparing for the start of school on August 12th, has alerted residents to expect increased traffic around schools during intake and release times.
  • The district is asking drivers to allow extra time for their commutes and to be cautious around students at bus stops or walking and biking to school.
“We appreciate your patience as bus routes will also take longer than normal,” the district wrote. “It usually takes a week or so for everything to become routine.”
In addition to road safety, WM is encouraging environmental stewardship as the school year begins. They suggest using reusable lunch containers and beverage bottles, opting for whole fruits and vegetables as snacks, and considering eco-friendly school supplies made from recycled materials.
Both organizations stress the importance of community cooperation in ensuring a safe start to the school year. As WM puts it, “Working together, we can make it a safe and green school year.”
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