Buying a Home

3 Ways to Keep More Money in Your Pocket

Spending money is often easier than saving, but a few simple fixes can reverse your financial situation for the better. Improve your saving skills with these tips.

Pay Yourself First
Paying the bills is a necessity, but you can benefit from paying yourself each month, too. If you save your disposable income first, you’ll be inclined to spend less because you know you need to reserve more for your bills. 

Keep Separate Savings Accounts
Combining all of your savings in one account can make it difficult to keep track of how much money goes where and makes it more tempting to dip in unnecessarily. When you separate your savings, you’ll know exactly where you stand and have the willpower to say no.

Consider Multiple Banks
If you have both your checking and savings accounts at the same bank, it can be easy to go into your savings account while withdrawing from your checking. If you keep your savings at another bank, you’re less likely to go out of your way to take out funds.

Energy Saving Measures that Generate a Sizable Tax Benefit

Everyone loves getting money back come tax time, but sometimes it can be confusing to understand where you can be saving. To help you understand energy savings and tax benefits, it’s a good idea to catch up on your energy-related tips, offered by the Alliance to Save Energy’s Director of Government Relations, Rob Mosher.

As the New Year commences, Mosher says homeowners could be eligible to receive a sizable tax return if they invested in an electric vehicle, geothermal heat pump, or fuel cell system in 2012.

Certain electric vehicles acquired after 2009 are eligible for up to $7,500 in tax credits. Qualified plug-in electric vehicles qualify for a $2,500 tax credit, and the credit increases by $417 for each additional kWh of battery capacity up to $7,500.

A complete list of vehicles eligible for this tax credit is available at fueleconomy.gov.

Mosher says geothermal heat pumps installed anytime since 2009 in a main or second home qualify for a federal tax credit. These are similar to traditional heat pumps, but use the earth’s natural heat to control the temperature of your home more efficiently.

The federal government is offering a tax credit of 30 percent of the installation costs, with no upper limit. All EnergyStar geothermal pumps qualify and are over 45 percent more efficient than standard models.

 

Visit EnergyStar.gov for more detailed information on qualified heat pumps and tax filing.

Installing residential fuel cell systems provides another opportunity for homeowners to save money and utilize federal tax incentives, according to Mosher. Fuel cells produce electricity through a chemical process of combining oxygen with hydrogen extracted from natural gas or propane.

While these systems can be expensive, they can also:

Supply a steady portion of the home’s electric energy needs;
Allow for excess electricity to be sold back to the local utility, and;
Power the home during power outages

The tax credit covers 30 percent of installation costs (up to $1,000 per kWh) for fuel cell systems placed in service in 2009 or later on a non-business property. Learn about fuel cell qualifications from the U.S. Fuel Cell Council at www.eere.energy.gov.

 

6 Basic Steps to Home Maintenance

Moving into a new home can be a thrilling experience. However, it’s easy to get caught up with the excitement of painting and decorating, overlooking improvements and maintenance until something clamors for attention.

To protect your investment, keep your home in good shape, and minimize emergency repair costs, a panel of home maintenance experts recommends the following:

Know the control points – Know the location of the main water valves and electrical circuit boxes. (The information may come in handy later.) Check your home and grounds regularly for water leaks, poor air flow, any signs of mold or mildew, or even peeling paint.

Take a class – Many home improvement stores, and some adult schools, offer free or low-cost classes in home maintenance. Having a check list will make it easier to stay in control, and knowing how to do basic fixes will save you money in the long run.

Assemble a tool kit – For small repairs and general maintenance, put together a basic tool kit. At minimum, you should have a hammer, screwdrivers, wrenches and pliers, as well as a utility knife, a retractable tape measure, a level, a small drill set and a roll of strong electrical or duct tape.

Keep a calendar – It will help you remember regular maintenance chores such as changing the batteries in your smoke detectors and/or changing furnace filters.

Have a maintenance fund – Nothing lasts forever, and that includes appliances like water heaters and furnaces as well as carpeting and furniture. You will sleep easier if you keep a savings account for emergencies and cosmetic repairs or replacements.

Know when to call in a pro – Electricians, plumbers, and various other contractors are licensed because they do potentially dangerous work. Don’t try to work on your furnace or clear out backed-up plumbing or re-wire a circuit by yourself. Call in a contractor or licensed handyman when needed.

 

In this time of recovery here are some websites and telephone numbers that might assist you or someone you know:

FEMA ASSISTANCE

To apply for FEMA assistance visit: www.disasterassistance.gov or call 1-800-621-FEMA (1-800-621-3362) TTY: 1-800-462-7585. To find the nearest FEMA Disaster Recovery Center visit:https://egateway.fema.gov/ESF6/ DRCLocator

EMERGENCY ASSISTANCE

If you need emergency help call 9-1-1.

BASIC SUPPLIES

If you need supplies, such as food, water, or ice, please contact your county emergency management at: http://www.floridadisaste r.org/fl_county_em.asp or by phone at (850) 815-4001 for the location of the nearest distribution center. Your county emergency management can provide up-to-date information about shelters and local distribution centers for food and supplies.

HELP FOR SENIORS

If you know of a senior who needs assistance call the Florida Department of Elder Affairs hotline at 1-800-96-ELDER (1-800-963-5337). To report elder abuse, call 1-800-96-ABUSE (1-800-962-2873).

HELP FOR VETERANS

Veterans in need of assistance or in need of their medication can contact the Veteran Disaster Hotline at 1-800-507-4571 or go to any VA medical facility for assistance.

MENTAL HEALTH 

If you or someone you know is experiencing emotional distress please call the Disaster Distress Helpline at 1-800-985-5990 or text TalkWithUs to 66746 to connect with a trained counselor. You may also visit: http://bit.ly/2vH2Huc for more information about managing stress after a disaster and talking with children about traumatic events.

DIALYSIS

To find a dialysis center in your area visit: http://www.dialysisunits.com/. Patients of DaVita Dialysis may contact 1-800-400-8331 to find the nearest Dialysis Center.

MORTGAGE RELIEF

To find out if you qualify for temporary mortgage relief, visit the Freddie Mac website at: http://www.freddiem ac.com/about/hurricane-relief.html , the Fannie Mae website at:http://www .fanniemae.com/portal/about-fm/hurricane-relief.html or by phone at 1-800-2FANNIE (800-232-6643). To contact the Federal Housing Finance Agency visit:https://www.fhfa.gov/Homeownersbuyer/MortgageA ssist ance/ Pages /Disa ster-Assistance.aspx

You may also contact the Department of Housing and Urban Development (HUD) to find out if you qualify for any hurricane related help with your mortgage or mortgage insurance. To contact HUD about disaster assistance visit: https://www. hud.gov/program_offices/housing/sfh/ins/203h-dft or https://www. hud.gov/program_offices/housing/sfh/nsc/qaho0121

TAX RELIEF

Taxpayers in affected areas may be eligible for tax relief from the IRS. To learn more about IRS assistance visit: https://ww w.irs.gov/newsroom/tax-relief-in-disaster-situations.

DISASTER RECOVERY LOANS

The U.S. Small Business Administration is providing various disaster loans to qualifying Floridians. For more information about SBA disaster loans visit: https://www.sba.gov/disaster-ass istance/. The U.S. Department of Agriculture provides loans to qualifying individuals, businesses, and communities after disasters. For more information visit:https://www.usda.gov/topics/d isaster/storms, or contact the USDA office in Florida at: (352) 338-3400.

DISASTER UNEMPLOYMENT ASSISTANCE

Floridians who are unemployed as a result of a disaster, and who are ineligible for regular state unemployment insurance, are encouraged to apply for Disaster Unemployment Assistance (DUA) through the U.S. Department of Labor. For additional information about DUA visit: https://workfo rcesecurity.doleta.gov/unemploy/disaster.asp or contact the U.S. Department of Labor by phone at 1-866-487-2365.

HURRICANE RESPONSE HIRING

The U.S. Small Business Administration is hiring a variety of temporary positions located throughout areas affected by recent disasters. For more information visit:https://www.sba.gov/disaster-assistance/hurrican e-res ponse -jobs -sba< /a>. For FEMA hiring visit: https://careers.fema.gov/hur ricane-workforce.

FEMA ASSISTANCE

For in-person assistance with storm related questions, visit your local FEMA Disaster Recovery Center. For a list of centers in your area visit: https://egateway.fema.gov/ESF6/ DRCLocatoror call 1-800-621-FEMA (1-800-621-3362) TTY: 1-800-462-7585.

Be aware of SCAMS: Federal and state workers never ask for or accept money, and always carry identification badges. There is no fee required to apply for or to get disaster assistance from FEMA, or the State of Florida. If you suspect fraud call FEMA’s Disaster Fraud Hotline at 866-720-5721, or the Florida Attorney General fraud hotline at 1-866-966-7226.

RESOURCES

Emergency Assistance 9-1-1

Local resources (food, shelter, childcare,) 2-1-1

Food, water, ice distribution https://www.floridadisaster.org/, 850-815-4001, TDD/TTY: 1-800-226-4329

County Emergency Management Offices https://www.floridadisaster.org /counties/

Shelters www.floridadisaster.org/sh elter-status/

Florida Highway Conditions: www.flhsmv.gov/f hp/traffic/live_traffic_feed.html, or dial 5-1-1 or *FHP (347)

Florida Elder Affairs Hotline 1-800-96-ELDER (1-800-963-5337) http://elderaffairs.state.fl.us/

Veteran Disaster Hotline www.va.gov, 1-800-507-4571

Disaster Distress Helpline (for emotional distress) 1-800-985-5990, or text TalkWithUs to 66746

Blue Tarp Roofs (Army Corps of Engineers) 1-888-ROOF-BLU

FEMA www.disasterassistance.gov, 1-800-621-FEMA (1-800-621-3362) TTY: 1-800-745-0243

 

How to Find More Closet Space

Bedrooms, bathrooms, closets – these are the top concerns for potential homeowners on the hunt. If you’re a homeowner pining for more room to stock your clothes, read on for these helpful hints.

Reduce. This is the first step to making more room in your closet. We’re all guilty of hanging on to things we don’t use. Make a habit of reducing your wardrobe seasonally. Ask yourself if you wore this in the past six months. If the answer is no, donate it to a charity, bring it to a consignment shop, or have yourself a yard sale.

Get creative with storage. Don’t settle for simple shelves. Cubbies, bins and wire racks can offer storage solutions to streamline your space. Adding rods or racks to the back of your closet door or the sides of your closet can offer extra stash space.

Stagger. There’s no need to have only one or two hanging rods. Stagger your rods at different heights and lengths and arrange garments accordingly.

Look to the ceiling. Does your shelving reach all the way to the ceiling? If not, you could be missing out on several feet of storage space. Add another shelf (or three!) to the top of your closet and store out-of-season clothes or things you don’t reach for on a daily basis.

Repair or Replace? How to Tell

When an appliance or tool breaks, it can often be difficult to decide whether you should repair it or get a new one. The difference in expense can be hard to figure out and the decision can be a struggle. In the following article, Consumer Reports tells us how we can make a more educated decision, and hopefully save some money along the way.

“Repairing broken items or keeping them going as long as possible isn’t always the best way to save money,” says Celia Kuperszmid-Lehrman, Deputy Content Editor of Home and Appliances for Consumer Reports. “Our report spells out how much repairs usually cost, brands that breakdown and those that don’t, and cheap fixes you can handle to save money.”

Tips on How to Save

Consumer Reports surveyed 29,281 subscribers about their product experiences as part of its 2013 Online Annual Questionnaire. Here’s what consumers need to know:

• Products aren’t breaking faster. The repair rates of most products in the latest survey are similar to the 2010 survey results. Some products are breaking less often. For example, laptops had a repair rate of 24 percent, down from 36 percent in 2010.
• Avoiding a lemon. Check Consumer Reports’ “What Breaks and What Doesn’t” lists for the most temperamental product types and – from repair-history surveys – the most and least reliable brands for each. GE electric ranges were reliable, for example, while Jenn-Air and KitchenAid were both repair-prone brands, according to the survey. 
• Save money on repairs. People who used independent repair shops were more satisfied with the repairs than those who used factory service. No matter who does the repair, don’t spend more than 50 percent of the cost of a new product on repairing an old one.
• Warranties don’t improve satisfaction. People who had a service contract or an extended warranty weren’t any happier with their repairs. They were actually more likely to have had repairs done incorrectly the first time around than people without those contracts and waited at least two weeks for repairs.

Source: Consumer Reports