Expanding Your Home to Stay Where You Are

You’ve been searching high and low for another home to purchase with more space for your growing family and for working remotely. Maybe it’s about your location, better schools, or having your in-laws reside with you to watch your children. Whatever your reasons are, this market has been very stressful for those looking to move. Even for those 1st-time buyers, getting “knocked out of the ballpark” with bidding wars or not being prepared sufficiently enough by not having that all-important piece of paper called, “the commitment letter.” Getting stuck in your current situation, whether it is staying in your current rental or living with parents or in-laws has its pluses and drawbacks. But solutions are hard to come by, as the inventory is at historic lows, and interest rates are causing monthly payments to exceed many budgets. There are no extra dollars to be had to compete with the vast amount of other purchasers that are vying for the same limited number of homes that are for sale.

Those that are already in a home, in a desirable location with excellent schools have an option to consider expanding their footprint and go through the construction process, especially if a room for your job or business is a necessary and mandatory requirement. I get it, it’s not an easy task or decision to make, especially if you don’t want to rent another place and go through that additional expense, while your home is under construction. However, you could consider, staying in your home while construction is underway, as my daughter did, when she purchased her new home in 2022; but locked in her financing in December of 2021. She, her husband, and children lived in one section of their home, while the other part was

BY PHILIP A. RAICES

renovated. It’s not an easy path to take, but it can be accomplished with some concerted effort, stick-to-itiveness, determination, and perseverance. Obviously, it will save you a lot of money and you can see the daily progress as it unfolds showing you all the improvements. As far as inconvenience, there will always be some, but as they say, “no pain, no gain.” The contractor can completely seal off the areas properly, so the dust can be pretty much minimized, as was completed in my daughter’s new home. Interviewing at least 3-5 contractors and getting referrals and recommendations when hiring to make sure that the company you hire will start and finish the job within certain time constraints. Even paying a little extra bonus may incentivize your contractor to complete your renovation sooner or at least in a timelier manner. One issue that I will convey to you is depending on the level of quality and the availability, especially if they are high-end, is to order all your appliances right from the beginning as it took my daughter 16 months, with the delays and supply chain and production issues, to get her Subzero refrigerator.

Another important item to consider is your budget for the upgrades and improvements. Will you be financing or paying outright for the job? You could also consider a HELOC (home equity line of credit). This could be less money depending on your relationship with your lender and/or who you borrow from. This type of financing can be used and interest is only applied when the money is utilized; as you will be paying your contractor a portion of the total as each step of the work is completed. Start with your bank and check a few others for comparison. You can do a secured loan if you have the necessary funds as this should provide you the lowest rate and cost.

If you work remotely at home then there is an allowable tax deduction equal to a percentage of the total number of rooms being used overall for your business. So if you have 5 rooms and use 1, then you would have a 20% write-off on all the expenses in running your home including your mortgage. However, I would advise you to always speak to your CPA to know the exact extent of your benefits from working at home.

The working environment will never be the same after the Covid19 Pandemic. The hours lost traveling to and from work can now be utilized either by being more productive or adding to your quality family time. I am quite positive that many will no longer have to go to their normal offices anymore. There have been some conflicting studies (WWW. BusinessNewsDaily.com May 26, 2023 and apollotechical.com January 3, 2023) that some say working remotely is more productive than being in an office environment, and some same the opposite. It’s all up to the individual and how they approach their work. But for a majority, studies have shown that the work-life balance increases productivity and enables a healthier lifestyle. So staying put, upgrading, and adding space just might be the solution to not having to move.

A Greener View

Continued from page 2 ing protein. They grow fastest and break down organic matter quicker when the carbon to nitrogen ratio is about 30:1.

Leaves are naturally about 60:1 and grass clippings are about 19:1. Two bags of grass clippings to one bag of leaves will provide a good nutrient balance for the microbes.

If you have been leaving the clippings on the lawn all year (that’s great), it is OK to use some for the compost.

The best place for the pile is in a shady, well drained, out-of-view (to you and the neighbors) location. The pile must be kept damp like a wrung-out sponge. If the pile dries out the decomposition slows down, and if it is too soggy fermentation may start.

A compost pile of about five feet by five feet works best. It is large enough to retain the heat generated by decomposition and small enough to allow interior air circulation essential to prevent fermentation and sour odors.

The interior of the pile will reach a temperature of 130 to 170 degrees in about one week. The heat will kill many insect eggs, weed seeds and disease organisms. In two to three weeks the temperature will drop, and the pile will need to be mixed by turning it inside-out. Turning the pile after each peak in temperature will speed up the process.

Philip A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave Suite 180 in Great Neck. He has 40 years experience in the Real Estate industry and has earned designations as a Graduate of the Realtor Institute (G.R.I.) and also as a Certified International Property Specialist (C.I.P.S.) and in 2022 has earned his National Association of Realtors “Green Industry designation for eco-friendly construction. He will provide you with “free” regular updates of sold and new homes in your town via the Multiple Listing Service of Long Island (MLSLI) or go to https://WWW. Li-RealEstate.Com and you can “do it yourself (DYI) and search on your own. For a “FREE” `15 minute consultation, as well as well as a “FREE printout or digital value analysis of what your home might sell for in today’s market without any obligation or “strings” attached. He can also provide a copy of “Unlocking the Secrets of Real Estate’s New Market Reality, and our Seller’s and Buyer’s Guides for “Things to Consider when Selling, investing or Purchasing your Home.

You can email or snail mail (regular mail) him with your request or ideas, suggestions or interview you for a specific topic and a Q & A for a future column with your name, email and cell number. He will email or call you back and respond to your request ASAP as long as he has your complete name, cell, email and/or full home or business address. Again, for a “FREE” 15 minute consultation, he can also be reached by cell: (516) 647-4289 or by email: Phil@ TurnKeyRealEstate.Com to answer any of your questions and concerns in selling, investing, purchasing, or leasing residential or commercial property.

The compost will be ready in two to six months, depending on the temperature and type of organic matter used. Virtually no decay takes place when the temperature is below the 40s. It is ready to use when it is dark brown, uniformly crumbly and has a sweet, earthy smell.

A properly maintained compost pile doesn’t smell bad. If it starts to smell rotten, it is either too wet or not getting enough air circulation. Turning it, mixing in more coarse material such as wood chips and covering it to keep out rain will help. If it is too dry, try cupping the top so it will gather rainwater. If it is only moist and warm in the middle, it is probably too small. If the pile won’t heat up, add nitrogen from organic fertilizer like bloodmeal, manure or grass clippings.

Composting is an easy and cost-effective method of returning precious organic matter back to your plants and fixing clay soil problems.

Email questions to Jeff Rugg at info@ greenerview.com.

COPYRIGHT 2023 JEFF RUGG

DISTRIBUTED BY CREATORS