8 ways first-time homebuyers can make themselves mortgage-ready

(BPT) - It's rare to get something right the very first time you try it, but when it comes to buying your first home, a lack of knowledge and experience can lead to costly mistakes. One in four first time homebuyers say they are completely unfamiliar with the mortgage financing process, according to a report by the Consumer Financial Protection Bureau. Even among those with an understanding of the overall process, the report found that many first time homebuyers still had significant knowledge gaps in important areas such as available mortgage rates, closing costs, down-payment requirements and income required to qualify for a loan.



"Not having all the information available could lead to consumers paying a higher interest rate or failing to secure an affordable mortgage for the home they want," says Eric Hamilton, President of Vanderbilt Mortgage and Finance. "While most first-time homebuyers understand the importance of their credit report score in securing a mortgage, it's important they arm themselves with comprehensive knowledge. Fortunately, there's plenty of useful information out there for borrowers who want to do their homework before diving into the loan process."



Here are eight tips for first-time homebuyers:



1. Adjust your budget. A mortgage payment can increase your monthly housing expenses, so prepare by calculating what that amount will be and begin saving that same amount every month so you can get used to the budget change in advance. Use a free online payment calculator to help you predict your payment and understand your current debt-to-income ratio.



2. Plan for a down payment. Nearly all home loans will require you to put some money down as a down payment. Some home loans may require as much as 20 percent of the purchase cost as a down payment, although some Federal Housing Administration loans may require less. Decide on the amount you think you'll need and create a savings plan to help you reach that goal.



3. Consider the location and type of home you want to buy. Many factors influence the cost of a home, including its location, size, style and more. A larger home in a high-income area will generally cost more, and property taxes will be higher on a bigger, newer, well-located home. Many first-time homebuyers find manufactured or mobile homes are a good option. Knowing the estimated cost of the type of home you want to purchase can help you better manage your budget.



4. Stay on top of your credit. Lenders will consider your credit score and report history when determining your mortgage eligibility and the interest rate they may offer you. Make sure to review your credit report in advance. If you're planning to apply for a mortgage, it's a good idea to review your report more frequently and to consider paying to obtain your credit score from at least one major bureau. If your report contains errors, work with the credit bureaus to have them corrected before you apply for a mortgage.



5. Keep current on monthly bills. While it's important to save toward a down payment, don't let monthly bills slide. Paying your bills on time every month can help increase your credit score, and a good payment history is something lenders look for when reviewing your credit report. Use online tools like email reminders and automatic payment options to help ensure you never miss or make a late payment.



6. Work on your debt. If you have delinquent balances, bring them up to date as quickly as possible. If you carry a lot of revolving credit card debt, you may want to work to reduce it by paying more than the monthly minimum payment. While it helps to have a report that shows no late payments, the most important thing is to not have any delinquent balances before you apply for a mortgage.



7. Plan for escrow. In addition to the amount you will need each month toward repaying your mortgage, you'll need escrow - an amount added to and collected with each monthly mortgage payment that is applied toward annual homeowners' insurance premiums and/or taxes. Estimating taxes and total insurance costs can help you better understand how much your escrow will be each month, and you'll be able to budget more accurately as you prepare for home ownership. Don't forget that this amount may adjust every twelve months if your insurance premium or taxes change for the next year.



8. Take advantage of educational resources. From lenders' websites to government agencies, it's easy to find plenty of information online. Check out resources like the Consumer Financial Protection Bureau, the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration.

Add economical living space with an outdoor room

(BPT) - Adding living space to your home can be an expensive prospect. However, creating an outdoor room is a budget-friendly option that gives you more square footage, as well as additional opportunities to enjoy the season. As an extension of the home, outdoor rooms with decks or pergolas can be personalized to truly bring indoor comforts outside for relaxation and entertaining.



Prepare your outdoor space



Before embarking on designing an outdoor room, start with a clean slate by making necessary repairs. Jason Ringling, director of marketing for Red Devil, says outdoor fix-ups are on the agenda because of the unusual weather the country has experienced, including wind and flood damage. Outdoor structures have particularly taken a beating, with damage to wood structures and cracked concrete.



"Homeowners can tackle these jobs with long-lasting quality adhesives and sealants," says Ringling. "There are new, environmentally friendly construction adhesives on the market, which can help repair damaged decks, concrete, outdoor furniture, play sets and more."



Stand up to Mother Nature



If you start with cellular PVC as a wood replacement, you can add longevity and low-maintenance to pergolas and other outdoor structures. Those that come in easy-to-assemble kits make it even easier to have a stylish extension to your home. According to the experts at Walpole Outdoors, to match your home's style, look for variations in pergola design such as straight or arched tops, and round or square columns in many sizes.



"For a true 'outdoor room' feeling, a retractable, weather-resistant fabric canopy can provide shade and shelter whenever the weather changes, so homeowners can always plan outdoor occasions with confidence," says Walpole president Lou Maglio.



Affordable, natural looks that endure



Decks are another easy way to extend living space and with new alternative materials, it's easy to save on maintenance without sacrificing style. One advancement in composite decking technology features a "cap" or protective outer layer that looks like real hardwood.



"Today's deck trends show that homeowners are looking for deck styles and colors that strongly resemble the earthy tones found in nature," says Carey Walley, vice president of marketing for TimberTech, a leading composite decking manufacturer. As an example, the company's new Earthwood Evolutions Terrain is an affordable hardwood-look composite that is durable, moisture-resistant and accepts concealed fasteners. Walley also notes that a new interactive Q&A forum called Straight Talk is a great place to investigate common deck topics and to ask any deck question that will be answered by experts.



De-clutter your deck space



When designing that special outdoor space, start by de-cluttering the deck. Look for the latest clever, space-saving solutions that help make the most of your deck space. One way to cut costs and improve the view is to use fewer posts, according to Mike Gori, director of product management, AZEK Building Products.



"We've engineered a durable railing system that spans 10 feet between posts, which requires fewer posts. This creates a less cluttered look, clearer views and substantial cost savings," he says. In addition, he suggests hide-away storage bins that make use of the space under the deck to store items like umbrellas and pool toys. "The lid is discreetly flush with the deck surface, eliminating those large plastic bins that obscure the view and take up valuable deck space."



With these tips, it's easy to find functional, beautiful and affordable options for making your outdoor space your very own.

MARCH 2017 MARKET UPDATE

March 2017

Included in this blog post is a link to my Real Estate Update Newsletter. Please click on the link below to get the latest Real Estate Update for March! If you have any questions, please don’t hesitate to call or email my office. 

614-882-6725

delena@delena.com

http://realtytimes.com/220/DeLenaCiamacco

Green living plus green savings: an efficient equation for today's homeowners

Across the world, both building professionals and consumers are embracing the idea of sustainable building practices. This practice follows a process that is environmentally responsible and resource efficient throughout a building's life cycle: from design to construction, operation to maintenance and renovation, to eventually, demolition. This practice expands and complements the classical building design concerns of economy, utility, durability and comfort.



Green building brings together a vast array of practices and techniques to reduce and ultimately eliminate the impacts of buildings on the environment and human health. It often emphasizes taking advantage of renewable resources, such as using sunlight to generate solar power and using plants to reduce rainwater run-off.



According to the Energy Information Administration, the demand for green homes is expected to rise 900 percent in the next five years.



In the home, using energy efficient appliances can dramatically reduce energy waste and cut costs. Companies like Miele offer a wide range of Energy Star rated appliances for every room in the house from the kitchen to the laundry room.



For example, Miele offers induction cook-tops, which use a non-contact method of heating using magnetic fields to transfer energy directly to cookware. The induction element stays cool, while the target object heats up rapidly for extremely efficient cooking. Like gas, induction is exceptionally easy and quick to control. The ability to precisely control the power makes induction perfect for all types of cooking. It is highly reactive and exceedingly safe. The cooking surface is cool in operation and only generates heat where the pan sits on it. As soon as the pan is removed, the flow of heat stops immediately.



For more information on the various types of energy efficient appliances available, visit www.mieleusa.com.



Young, savvy, environmentally-conscious consumers are at the forefront of the green movement. Programs like the Department of Energy's Solar Decathlon allow this demographic to create and design an energy efficient home.



The Solar Decathlon is a program that challenges collegiate teams to design, build, and operate solar-powered houses that are cost-effective, energy-efficient, and attractive. The winner of the competition is the team that best blends affordability, consumer appeal, and design excellence with optimal energy production and maximum efficiency. This year's winner was the University of Maryland Team WaterShed.



"We are extremely pleased to be partnering with Miele on our entry into last year's Solar Decathlon competition," says Brian Grieb, University of Maryland Team WaterShed's faculty project manager. "Miele has a reputation for providing elegantly designed, environmentally conscious, cost-efficient products that are constructed with longevity in mind. These attributes are exactly the qualities we were seeking to include in the WaterShed home."

What's the finishing touch on a low maintenance home? The trim

Now consumers can enhance the architectural beauty of their homes with superior-quality cellular PVC trimboard from Kleer Lumber, a division of The Tapco Group. Kleer Trimboard provides versatile solutions with wood's aesthetic appeal without wood's extensive maintenance. Not only is Kleer Trimboard easily installed everywhere wood trim is traditionally used, it has more applications. It's impervious to moisture, insect infestation and other threats to wood, giving homeowners the freedom to pursue more creative trim applications and peace of mind to enjoy their enhanced home for decades.



"Kleer Trimboard delivers the authentic, rich appearance of wood coupled with the long-term durability and very low-maintenance homeowners want," says Jack Delaney, national sales manager of The Tapco Group's Kleer Lumber division. "With Kleer, people don't have to sacrifice aesthetics to avoid wood's problems. Kleer's cellular PVC trimboard outperforms wood in every application, in every climate. Kleer Trimboard is appropriate on virtually every house, whether it's a coastal mansion or modest neighborhood home."



Kleer Trimboard works where roofing meets the house, around windows and doors, in contact with the ground and concrete where wood often fails, and anywhere the imagination leads, including soffits and fascia, columns and cornices. With unmatched versatility, Kleer can be machined to create intricate gingerbread and fluted pilasters and other custom applications, including heat-bending for elegant curves. Kleer trim is also a breeze to glue, route and mold using wood trim tools. Boards and other components come in multiple sizes.



Because it's completely synthetic, Kleer isn't susceptible to the challenges that plague wood and composite trim, including mold, mildew, swelling and rot from moisture or insect damage. Wood's form and function inevitably fails over time despite repeated sanding and repainting. Kleer trim is easily maintained with soap and water, keeping it beautiful long-term.



Kleer's proprietary TruEDGE technology keeps board edges cleaner through installation and beyond. And, if the edges do get dirty, they are much easier to clean than edges without TruEDGE technology. Unlike some PVC trim brands that are textured, Kleer Trimboard has a natural wood grain finish that closely resembles genuine cedar; it's also available with a smooth finish on both sides. Available in pure white, Kleer Trimboard keeps its fresh bright appearance for decades or can be painted to match other decor. Its Limited Lifetime Warranty, which includes labor for the first two years, offers the industry's strongest protection.



Kleer's complete system includes trimboards, sheets, mouldings, adhesives, and concealed fasteners to finish any job. Ideal for home exteriors, Kleer Trimboard is also used for interior wainscot applications in moist spaces, including bath and laundry rooms. Kleer's Beaded Boards and Sheets enhance and protect these areas, including ceilings.



"We're continuously innovating and expanding the Kleer Trimboard product line, so customers have the best choices for enhancing the architecture, curb appeal, and value of their homes," says Delaney. "The decorative possibilities are endless. Kleer Trimboard also perfectly complements Kleer Decking and the Kleer Rail PVC Railing System. No other trimboard offers Kleer's combination of benefits - it's the right finishing touch for every home."



The Tapco Group, a U.S. Green Building Council member, is the building industry's leading provider of easy-to-install, premium, innovative interior and exterior products. Serving the building industry since 1961, Tapco specializes in the manufacturing of roofing, siding, decking, railing, trim, tool systems, egress systems and siding components. The products combine versatile application, durability, vast color palettes and uncommon authenticity to exceed the expectations of contractors and homeowners.



For more information, visit www.kleerlumber.com or www.TheTapcoGroup.com or call (800) 521-7567.

OPEN HOUSE IN BUCKEYE LAKE!

OPEN HOUSE!

by Richard Johnson

5009 Northbank Road,
Buckeye Lake, OH 43008

February 19, 2017 from 1-4 PM

This home is a MUST-SEE!

Waterfront Spectacular!

Luxuriously remodeled Two-Story home on a double lot on Buckeye Lake with 4 car garage & panoramic water views! The seller has over $1,000,000 in the renovation/rebuild of this nearly 4,000 SF home in 2015. Live here year round or perfect 2^nd home! Very open floor plan with cathedral wood beamed ceilings and walls of windows. Great Room has bar/kitchenette & spiral staircase to Loft. A chef’s “Dream” Kitchen with cherry cabinets, silestone countertops & Stainless Steel appliances. Hearth Room walks out to a Three Season Room. Master’s Retreat has his & hers closets, 2 Full Baths and private deck overlooking water. Huge Media/Bonus Room/Possible Guest Suite. 4 BRs & 4.5 Baths. Lakewood schools. Only $699,900!

Greener decorating for your deck and patio

If you're planning some outdoor decorating or renovating this summer, here are some tips to make your exterior living spaces green and inviting:



Eco-friendly construction materials



For many homeowners, decks and patios are key elements of outdoor living spaces. If you plan to add either this summer, be sure to look for environmentally friendly materials like natural stone or responsibly harvested wood. When choosing wood, look for products certified by the Forest Stewardship Council (FCS) as having been harvested following sustainable principles that minimize the impact on the environment. If you're building a patio, choose reclaimed brick or stone pavers that have been recycled from other installations. If you can't find reclaimed pavers, look for natural stone that's been quarried locally or bricks that have been locally produced to minimize the energy spent on transporting the products.



The Sierra Club recommends you seek a deck builder that is LEED (Leadership in Energy and Environmental Design) certified by the U.S. Green Building Council. These builders will have advanced knowledge of eco-friendly practices.



Icing the cake



The accessories - furniture and decor items - that you add to your outdoor environment should be as green as possible, too. Choose patio and deck furniture made from eco-friendly materials, such as recycled plastic (but avoid anything that contains PVC), reclaimed wood or FCS-certified wood. Rehabilitating older iron or wood furniture is also a great way to achieve a singular look while keeping those items out of landfills.



Opt for decor items that minimize their impact on the environment while providing maximum impact on how great your space looks. For example, a wallpaper mural can create an eye-catching focal point and set the tone for your outdoor room. Yet traditional mural painting can be expensive and traditional wallpaper can involve less-than-eco-friendly paste. A removable wallpaper mural creates a striking visual in outdoor spaces without the need for paste or glue. Murals Your Way offers a high-end product that can be moved and reused hundreds of times without losing adhering qualities. Plus, it clings to virtually any flat surface, including glass. You can choose from a myriad of graphic patterns, nature scenes and other images, or have the company produce a custom mural from your original photograph or artwork. Learn more at www.muralsyourway.com.



Continue the eco-friendly theme with lighting for your deck and patio. It's easy to find a variety of solar-powered accent lights online and in home improvement stores across the country. You can even find decorative post caps for your deck railing that are solar-powered. Solar lights create a soft glow at night and provide accent illumination without the expense - and carbon impact - of electric power.



Finally, as you're landscaping, keep sustainability in mind. By choosing plants native to your region, you not only minimize the transportation impact involved in getting the plant from the production point to point-of-sale, you can also ensure they'll require less watering and work to thrive.



Plants native to your environment are pre-disposed to do well in your backyard. Be sure to choose plants that will do well in your particular setting, too. For example, if your backyard is very shady, plant greenery that requires less sun. If your yard gets a lot of sun throughout the day, choose plants that can stand up to hours of sunlight without the need for extensive irrigation. Check with your local agricultural extension to find out what plants will do well in your environment. The U.S. Department of Agriculture provides a free online listing of extensions throughout the country.