Spring is a time of year when change is in the air. Trees are budding, plants are flowering, and homes laden with dark or heavy fabrics and clutter could use some lightening up.
Spring cleaning projects are popular this time of year as residents take inventory of their living spaces and aim to declutter, clean and increase efficiency. Some people find the prospect of getting organized overwhelming. Here are some tips that can help anyone master spring cleaning.
• Create a plan. Make a checklist and establish a cleaning plan of attack. Focus on areas that are not regularly cleaned, as they probably need a little attention.
• Assemble your cleaning kit. Spring cleaning can be slowed down considerably if you don’t have all of your equipment at the ready. Items to have on hand include an all-purpose cleaner, concentrated cleaner, microfiber cloths, paper towels, mop, vacuum, dusters, and a squeegee. Adjust your equipment based on the task at hand.
• Curate your cleaning playlist. Create a playlist with songs that will get you moving and motivated to clean.
• Work from top to bottom. Work efficiently by cleaning shelves, ceiling fans and other elevated items first, as dust and debris will trickle down and need to be cleaned next.
• Purchase or rent a carpet cleaner. According to the experts at Clean That Up, carpets help filter indoor air by trapping debris and allergens. By deep cleaning carpets, homeowners can improve the indoor air quality of their homes. Use a carpet cleaner on a warm, dry day so that windows can be opened and cross breezes will help dry the damp rug.
• Clean windows. Wash windows inside and out and utilize their screens to help brighten indoors spaces.
• Deep clean the kitchen. Clean out and disinfect the refrigerator by wiping it down with warm water and baking soda or a vinegar-and-water solution. While in the kitchen, set the oven to the self-clean function so it becomes cleaner as well.
As any homeowner knows, renovation projects tend to cost a lot of money. The average cost of a home renovation is difficult to gauge, as such endeavors run the gamut from complex projects like a kitchen overhaul to simpler ones like painting a room inside a home. Indeed, the National Association of the Remodeling Industry notes that scope is what drives the cost of a renovation project.
Though there might not be an “average cost” of a renovation project, homeowners can expect to spend thousands of dollars on projects that are not very small in scale. Navigating such an expense at a time when inflation remains high might be difficult for some homeowners looking to maintain the appearance of their home exteriors. However, there are many budget-friendly ways homeowners can tend to the exterior of their properties.
• Power washing: Power washing won’t break the bank but it can revive the look of a home. Power washing removes dirt and grime from the siding of a home and a power washing can be used to clean porches, walkways and patios as well. Hardware chains like Home Depot and Lowes typically rent power washers, but homeowners who don’t want to do it themselves can hire a professional for a few hundred dollars, if not less. Power washing after winter can be a good idea, as the elements can take a toll on a home’s exterior. A good power washing before spring and summer entertaining season can thus give a home a fresh, clean look without breaking the bank.
• Furnished front porch: A furnished front porch can serve as a welcome sign to neighbors and provide a great place to relax with a morning cup of coffee and a good book. Homeowners with a small porch won’t need to bust their budgets to upgrade their front porch furnishings. Some small chairs with bright cushions, a small table and a rug underfoot can revamp an entryway at low cost.
• Window box installation: Installing window box planters is another cost-effective way to brighten up a home’s exterior. Homeowners can hang window boxes
outside windows on the front of their homes and then fill them with brightly colored flowers to add an inviting pop of color to their home exteriors. The experts at Better Homes & Gardens urge homeowners to take weight into consideration before buying window planters. Keep in mind that soil and developed plants can be heavy, so look for a sturdy box as well as one that has drainage holes.
• Replace hardware: Another simple way to freshen up a stale exterior is to replace hardware. Door knobs, knockers, house numbers, and even the mailbox can appear dated after a while. Replacing these items is inexpensive and quick but can have a profound impact on how the exterior of a home appears to residents and visitors.
Exterior renovations need not break the bank. Various simple and inexpensive tweaks can quickly revitalize the exterior of a home.
Home renovations provide a host of benefits. Such projects can increase resale value and improve on the safety, aesthetics and functionality of a home.
Some homeowners may employ the mantra “go big or go home” when they embark on home improvements, thinking that only the largest renovations produce noticeable change. But that’s not the case. Various smaller renovations can provide a lot of bang for homeowners’ bucks as well.
• Countertops (and hardware): A complete kitchen overhaul may stretch some homeowners’ budgets. However, changing an older countertop for a new material can provide the facelift a kitchen needs. And while changing the cabinets may be homeowners’ ultimate goal, swapping hardware in dated finishes for newer handles and pulls can provide low-cost appeal.
• Paint: Painting a space is an inexpensive improvement that adds maximum impact. Paint can transform dark and drab rooms into bright and airy oases. Paint also can be used to create an accent wall or cozy nooks. Homeowners also can showcase their personalities with their choice of paint colors.
• Lighting: Homeowners should not underestimate what a change in lighting can do. When rooms or exterior spaces are illuminated, they take on entirely new looks. It’s worth it to
invest in new lighting, whether it’s a dramatic hanging light over the dining room table or task lighting in dim spaces.
• Weatherproofing: Improving windows, doors, weatherstripping, and insulation in a home can offer visual appeal and help homeowners save money. The initial investment may be significant, but those costs will pay off in energy savings. According to One Main Financial, space heating is the largest energy expense the average American homeowner has, accounting for around 45 percent of all energy costs.
• Mudroom: Turn an entryway into a more functional space with the addition of cabinets, benches or custom-designed storage options that perfectly fit the area. Cubbies and cabinets can corral shoes, umbrellas, hats, bags, and much more.
• Accent updates: Any space, whether it’s inside or outside a home, can get a fresh look with new decorative accents. Invest in new throw pillows and even slipcovers for living room sofas. Use new tile or paint the brick on a fireplace in a den, then update the mantel with decorative displays. Purchase wall art that can bring different colors into a room. Change the cushions on deck furniture and buy color-coordinated planters. These subtle changes will not cost as much as full-scale renovations, but they can still help homeowners transform their homes.
Warm weather means more time to relax outdoors. For those homeowners lucky enough to have entertaining spaces outside, spring and summer provides plenty of opportunities to enjoy fresh air under the sun or stars.
Over the last few years, families have become especially familiar with what works about their yards and where there is room for improvement. Pandemic-related travel restrictions and early stay-at-home mandates resulted in plenty of time spent in backyards on staycations. Even though many such restrictions have been lifted, homeowners may have seen the benefits of having functional respites right outside their doors.
A backyard renovation can cost anywhere from $5,000 to $50,000. The American Society of Landscape Architects suggests homeowners budget the cost of a major landscaping project at between 5 and 10 percent of their home’s value. Large or small, here are ways to make an outdoor oasis at home.
Living in close proximity to neighbors may make privacy harder to come by. Wood or vinyl fences, however effective, may not provide the all-natural look many people desire. Vertical gardening, which trains easy-care vines like English ivy, Clematis or various climbing roses to grow on trellis or fencing adds greenery and privacy. Hedges and fast-growing shrubs also can be used for natural barriers.
Create a bespoke bistro vibe by using freestanding planters and posts along with hanging lights to make an intimate outdoor hangout spot at night. For those
with permanent structures, like a deck or a gazebo, lights can be strung across the area or on railings or edging.
Decks and patios can help make outdoor entertaining areas more comfortable by eliminating the need to sit on the grass or gravel. Plus, they add another “room” to the home. When paired with weatherproof patio furniture, such as sofas, loungers and tables, a private seating area can be crafted and utilized for any number of entertaining desires.
Few things evoke feelings of relaxation better than a hammock. Fitted between two trees (or two posts if trees are sparse), a hammock is an ideal place to grab a nap or read a book.
Additional oasis-inspired ideas include outdoor kitchens, letting up lanterns, cascading water features, and bird feeders to attract the sounds of nature.
Pools are the ultimate spots to cool off on hot days. An elaborately shaped inground pool can blend in with the landscape and offer the ultimate hangout zone. However, above-ground pools also serve the purpose and are more budget-friendly. Stock tank pools are popular among those who want minimal pool expenditure or have small spaces to work with. Stock tanks are metal vessels traditionally used as watering holes for livestock. They also can be “adult kiddie pools” when combined with some plumbing. Galvanized steel frames make them sturdy. With floats and other accessories, they can become the perfect oasis.
According to a 2022 CNBC article, citing recent data from WalletHub, the average American household credit card debt is $8,942. However, 1 in 5 has over $20,000 in credit debt. While $20,000 could be arbitrary, if there is too much month left at the end of your money, then it’s time to see if paying off credit card debt will improve cash flow.
Of the many criteria our credit scores are computed, payment history and proportion of balances to credit limit play a large part. Having maxed-out credit cards and making a late payment will crater your score and prevent you from having any flexibility in borrowing, should you have a need-based circumstance for funds like a new car or home repair.
If you are like the millions of Americans struggling with credit card debt one solution might be to consider how to best use the equity in your home to help. If you want to pull cash out of the equity of your home to pay off credit card debt, you will be weighing the benefits of improving monthly cash flow against increasing mortgage rates. So, we will talk about which would be better; A HELOC or a Cash-out mortgage refinance (1st Mortgage).
HELOC vs. Cash-Out Refinance: What’s the Difference? Choose between a revolving line of credit and a lump-sum payment. But while your home equity secures both loan options, they differ in many ways. Understanding the differences between a HELOC vs. Cash-Out Refinance can help you determine the better option for you.
A HELOC acts as a second mortgage and provides you with a revolving line of credit that you can use repeatedly. A Cash-Out Refinance replaces your existing mortgage and provides a lump-sum payment.
When it comes to refinancing, sometimes it’s not just about the rate, but the improved household cash flow from eliminating your debt.
• Get a Fixed Rate - Take the refinancing opportunity and lock in a fixed rate/payment. This improves your household cash flow by paying off your unsecured debt such as credit cards.
• Cash Out - You can borrow more than you owe and even keep the difference with a cash-out refinance. For example, you owe $200,000 on your home but your home is worth $280,000. Meaning, you have acquired $80,000 of equity. This doesn’t mean you will receive the full $80,000 but most companies allow you to borrow up to 80% of the value of your home. In this scenario, you can refinance up to $224,000. As soon as $200,000 is paid off, you will be left with $24,000 in cash to use.
Refinancing is a move you should make if it’s right. You are going to want to consider a few things. It is best to refinance when you know your interest rate will be lowered by 1% or more. Be aware of closing costs. This can include charges for an appraisal, attorney, title insurance, taxes, and more. These costs can add up to 3 to 6 percent of your loan’s principal amount. You should also think about how long you plan to remain in your home. Calculate what your overall monthly savings would be if the refinance were to be completed. If you end up saving a thousand or more annually with a refinance, you’re in a good position. Your lender can help to calculate any costs for the refinance if you decide to go through with it. Let’s say your costs add up to $2,500, divide the cost by your annual saving from refinancing (let’s say $1,625). You’ve found your break-even point–1.6. So, if you plan to stay in a home for two years or more, refinancing would be a sensible option here. If your annual savings were less, it would increase the duration you have to stay in your home.
Contact a loan provider to see how they can help you and answer all the questions about:
• How They Work
• Repayment Terms
• Costs
• Loan Amount and other common FAQ’s Bottom Line, Which Is Right for You? Picking the best mortgage lending partner possible can make the difference.
