Think Twice Before Renovating Your Home

If you’re planning a home renovation, do it for your own enjoyment.  But if you might move in a few years, know that some projects won’t generate the return you hoped for.  Here are some do’s and don’ts. 

Do consider these upgrades:

Ø  Replace your kitchen countertops with stone or granite (check material cost calculators at www.homewyse.com).  Paint your cabinets and add new handles.

Ø  Modernize the bathrooms. A total renovation can cost thousands, but just replacing the vanity in one bathroom with a granite top and dark-wood cabinets will make a huge difference.  For example, you can find one at Costco for about $600.

Ø  Make your home more energy efficient.  Buy energy-efficient appliances, insulate your attic, seal air leaks around the house, and install a programmable thermostat. While these upgrades may not be obvious, they will save you money and buyers will appreciate them.

Enjoy these, but you may not get a return on your investment:

Ø  Installing a pool.   A pool is entertaining, but it can be a liability when you sell.  Buyers worry about safety and maintenance.

Ø  Creating a dedicated home office.  It’s appropriate if you work at home and use it everyday, but if you just use it to pay bills, make sure the room can also be used as a den or spare bedroom.

Ø  Over-renovating for your neighborhood.   If you spend $25,000+ on a new kitchen, you may price yourself out of the local market when it comes time to sell.

             

3 Natural Allergy Remedies

If pollen and other allergens are making you sneeze, sniffle, and itch, then try these home remedies before turning to over-the-counter or prescription medications:

1.     Saline nasal rinse.  By flushing your sinuses with a saltwater solution, you’ll help wash away allergens and irritants.  Buy a Neti Pot or a pre-packaged kit at your drugstore.  Ask your doctor or pharmacist for recommendations.

2.     Lavender oil.  The scent of lavender is a natural antihistamine that can help reduce inflammation and nasal congestion.  Put some on a handkerchief and sniff every few minutes.

3.     Honey.  Provided you’re not allergic to bees, eat local honey.  You’ll ingest small amounts of pollen (that the bees have eaten), which acts in your system like an allergy shot.  Find local honey at a health food store or farmers market.

7 Major Financial Mistakes & How To Avoid Them

7 Major Financial Mistakes & How To Avoid Them

Watch out for these seven mistakes that could cost you big time:

1. Not having an emergency fund. Keep at least three months’ worth of your expenses in an account so you’re not using credit cards to pay for unexpected events, such as a job loss or medical expense.
2. Not having a budget. Take your income minus your fixed expenses, and the difference is what you can spend each month. Track your spending using tools like www.mint.com.
3. Not saving for retirement. Be sure to take advantage of your employer’s retirement savings plan, and open your own retirement savings account.
4. Not paying bills on time. Late payments affect your credit score. Sign up for a free service such as www.manilla.com, which lets you organize your bills in one place and sends you bill pay reminders.
5. Not planning for your children’s education. Consider investing in a 529 education savings plan or look at a program such as www.Upromise.com, which lets you save money for college by purchasing from major online retailers. Also, research scholarship opportunities for your student at www.fastweb.com.
6. Not monitoring your credit history. Get a free credit report every year from the three credit reporting companies by going to www.annualcreditreport.com. Check it for accuracy to ensure you’re not a victim of ID theft or fraud.
7. Not paying down credit card debt before everything else. If your credit card interest is 20% and your mortgage interest is 5%, pay off the credit card debt to avoid paying more in interest over the long term. To see how long it will take to pay off your credit card, use the www.bankrate.com calculator under “credit card”.