Blog – Page 800 of 851 – Mike Pfefferman

02

Jan

Around The Home

Let There Be Light! 3 Easy Ways to Make over a Room by Adding New Light Fixtures

Let There Be Light! 3 Easy Ways to Make over a Room by Adding New Light Fixtures Light is an important design element that can be used to influence your interior decor in a number of ways. In fact, you can experience a major transformative change on the overall style and ambiance of a room by making a few simple lighting changes. Consider how these ideas can help you to improve the look of your space with great results, and think about ways that you can improve your space by making a few changes.

The Addition of Spotlights

If you have fine pieces of artwork, decorative display areas or other features that you want to illustrate with beautiful clarity, the addition of spotlights is a great idea. You can shine light on these special features in your home by installing a single, bright fixture with a focused beam overhead, or you can use track lighting to highlight larger features. In some cases, the design or layout of your room may be sufficient to allow lighting to be placed at eye-level or even below the fixture to shine upward at it.

Background Illumination

While spotlights can shine a focused beam of light on fixtures, you can also use background lighting for ambiance. Consider how you can incorporate background lighting with under-cabinet kitchen lighting, dimmer recessed lighting placed behind a sofa or other features. Generally, these are lights that do not provide direct lighting, and the light may not be the main source of light in the room. It may even have a hint of color to it for a dramatic flair that further establishes ambiance.

Beautiful Lamps

Another idea is to use beautiful or decorative lamps in your room. These may be smaller desk lamps, towering floor lamps or table top lamps. There are lamps available in a wide range of colors, sizes and styles. The lighting from the lamps may influence ambiance and provide functional lighting, but the decorative nature of the lamps themselves can enhance the décor even when the lights are not turned on.

There are many different types of lighting that can influence your home’s décor, and in many cases, it makes sense to incorporate each of these styles of lighting in a single room to enjoy different benefits. You can study your rooms’ layouts and designs today to learn more about how the existing light fixtures influence decor, and you can make a few appropriate changes to enjoy better overall results for your space.

31

Dec

By support

Home Buyer Tips

Looking for Luxury? How to Upsize Your Next Home Without Upsizing Your Costs

Looking for Luxury? How to Upsize Your Next Home Without Upsizing Your Costs Size matters when you are buying a new home. Whether you plan to expand your family, need more room for your stuff, or are concerned with resale value, you want to get the most space for your money. Also, if you want to add a feel of luxury to your home, one of the best ways to do it is to create open spaces rather than cramming all your furniture in rooms so tiny you can barely walk around without knocking something over.

Traditionally speaking, the larger a home is, the more it costs. If there are two newly built houses side by side in a subdivision, the bigger one is likely to cost more. However, there are some tricks to finding spacious houses that are affordable.

Choose Emerging Neighborhoods

Houses in this year’s trending neighborhood are at their peak prices. Clever buyers look for neighborhoods that are in the process of being gentrified, buying at the bottom rather than the top of the market, to get more house for their money.

Fix It Up

Houses in perfect condition, that show well, sell for a premium. If you want to get more house for your money, choose something that needs a bit of TLC. A house that has pink walls and orange shag carpet might appear just too ugly to consider when you first view it, but it might just need a few coats of paint and some new carpet to become a spacious dream home.

Do Some Finishing

Unfinished areas such as attics and basements can be finished to create additional living spaces. The basement could become a family room and the attic an extra bedroom or study. An unfinished space can become the extra bathroom you need to make morning more manageable.

Consider an Addition

Contractors can add rooms to a house. If you have a large lot, you can build an extra wing. With a one story ranch house, it may be possible to raise the roof and add a second story.

The more stuff you have, the smaller your home appears. Reduce clutter and invest in smaller condo size furniture to give even the smallest home the appearance of spaciousness.

30

Dec

By support

Home Mortgage Tips

You Ask, We Answer: What is Private Mortgage Insurance or ‘PMI’ and How Does It Work?

You Ask, We Answer: What is Private Mortgage Insurance or 'PMI' and How Does It Work? For many homeowners, their mortgage payment contains more than just principal and interest. A little something called PMI could be representing a significant portion of that payment, and it’s important for home buyers to understand this cost.

What Is PMI?

PMI stands for private mortgage insurance, or sometimes just mortgage insurance. However, it isn’t intended to mitigate risk for the homeowner, but rather the bank.

Statistics show that when a home buyer puts less than 20% down on a home, he/she is much more likely to default. So, requiring these buyers to carry PMI helps the bank hedge their losses in the event of a default.

It’s important to note that the home buyer doesn’t shop for PMI; this is all taken care of by the lender. However, the cost of PMI should be calculated out well before closing to help the home buyer be aware of his/her final mortgage payment.

Who Needs PMI?

Who will need to carry PMI depends on factors like the credit rating of the buyer and the exact mortgage being sought out. However, it’s safe to say that most home buyers with less than a 20% down payment will be required to carry PMI.

Does PMI Ever Go Away?

Eventually, PMI can be removed from a mortgage once enough of the principle has been paid down or enough years have passed.

It’s important for home buyers to fully understand the terms of their PMI requirement. Sometimes, it will be automatically removed once 20% of the house has been paid off, while other times, refinancing may be required.

Should Those Who Cannot Put 20% Down, Not Buy A House To Avoid PMI?

Unfortunately, this is not an easy question to answer. Yes, PMI is an extra cost that needs to be calculated into the cost of the home – but putting off a home purchase isn’t necessarily the right course of action.

For many families, it’s financially challenging to save up 20% of the cost of a home. After all, in 2010, the median home price of new homes sold in America was $221,800. A 20% down payment on such a home would be $44,360.

However, many find that it’s still cheaper, or just financially wiser, to buy a home with PMI than to continue renting. Each potential home buyer should call their mortgage professional to get more information about market trends in their area and to decide the appropriate course of action.