“To buy a home for $170,000, the median national price, the borrower would have to come up with $34,000 in cash. It takes the average middle-class family 14 years to save that much money and closing costs, according to the Center for Responsible Lending.”
—Tough down-payment proposals worry home buyers - The Washington Post
needed: bath reno products
We need a reno on our main bathroom something fierce. Like, a we’re showering in the basement (and have been for five months) kind of need. But as you’ve heard in the past, I’m a tiny bit afraid of my own home and of making any changes to her. So we called in professionals for an estimate, but their price was a hefty $5300.
So… it looks like we’ll be smurfing it.
I finally bit the bullet over the weekend and started pricing our reno. Right now, it’s coming in around $1350 before plumbing supplies, new sheet rock, paint, cement, and grout. (Because I don’t know how to estimate that shit.)
But here’s what I do know/want/need/love:
Archer 5ft Tub in white by Kohler, photo via ($438)
This is your standard tub—no jets, no crazy light show, nothing special. Translation: the kind of tub that is within our price range. But considering I haven’t had a fully operational tub in over a year, I’ll take it. And really, the only tub indulgence that really pulls at my heart strings is a good set of claw feet. And well, that just ain’t happening.
Devonshire Faucet by Kohler, photo via ($180)
No bathroom is complete (literally) without a shower and tub faucet. I’m not particular enough to get my designing rocks off on a faucet, so this is another practical choice. Brushed nickel (read: the timeless quality of chrome without the fingerprints and watermarks) was pretty much my only requirement.
Alexa Collection 3-Light Vanity Fixture by Progress Lighting, photo via ($86)
This vanity light, although a total steal at $86, seemed slightly indulgent with it’s linen finish glass and crisp, clear edging. And although it’s more modern than the faucet, it’s brushed nickel finish is just enough coordination for me.
NuTone Ultra Silent 80 CFM Bath Fan, photo via ($118)
Another practical choice that will bring light to my tub and shower and prevent mildew. Win-win!
Forged Iron Glass and Stone Tile, photo via ($10.99 each)
When it came to tile, I knew I wanted something neutral that erred on the side of blue gray, and this tile was my jumping off point. It seamlessly blends that blue gray tone (which I have obsessed with in every medium for months!) with other neutrals in a way that is subtle yet dynamic. It will serve as a 3/4 height accent tile within the tub and shower surround.
Astral Luna 3 x 6” Ceramic Tile, photo via ($0.30 each)
This tile is a very pale, sandy beige in a classic subway shape. It will comprise most of the shower surround and be accented by a 3/4 height strip of the accent tile. I think that the off set subway pattern (what you see within the accent tile) will really make elongate the walls, making the space look as big as possible.
Tuscany Rouge 13” x 13” Floor Tile, photo via ($2.00 each)
This final tile will be our flooring tile. It’s a great warm gray ceramic tile. Big plans include placing it in our front entry and a larger (18” x 18”) version in our kitchen.
Below is a photo taken at our local Home Depot of the three tiles side by side.
Also, here are the tiles pictured with a few of the paint colors we’ve been considering.
I personally favor the blue green shade on the left or the darker of the grays, on the left. Bill favors none of them. But Bill is difficult when it comes to paint, so I’ll probably just buy the blue green and go with it.
The paint colors are all Behr brand.
- Atmospheric UL220-20
- Cathedral Gray UL260-7
- Pewter Ring UL260-4
We haven’t yet settled on a vanity because we’re unsure of how much space we’ll have for it to occupy. Everything is dependent on our being able to shift the plumbing for both the toilet and the sink. My fingers are crossed because our current vanity is not a vanity at all, but simply a sink. As you can see below, there is less than 2” of useable space surrounding the sink.
Here is the floor plan we’ll be left with if I get my way.
A beautiful rendering, isn’t it?!?
Confession: A good room layout sketch is how most of this girl’s dreams begin.
Once upon a time...
{not fitness related so feel free to pass over}
Once upon I time I owned this house. I bought it with my ex and kept it (foolishly) after the divorce. I kept it for all the right reasons…
- for continuity and consistency for my kiddo
- to keep her in the same school
- to keep her with her friends
- to help her feel secure while her world (and mine) were crumbling around us
続きを読む… →
7 SECRETS for Successful Home Buyers
If you’re thinking about or in the process of buying a home, following these 7 steps will help you safely reach your goal.
Step 1. Prepare for home ownership
- Monitor your credit record. Get a free copy of your credit report and if necessary, take steps to improve your credit score. Your credit score is a key factor in determining the rate of interest that you will pay for your mortgage loan. Generally, a higher credit score will qualify you for a lower interest rate.
- Figure out what you can afford. It will save you time, energy, and money if you have a realistic picture of what you need and how much you can afford before you start shopping for a home (see Step 2). A typical down payment is 20%, but some loans and property types can accept a lower down payment or require a higher down payment.
- Choose the type of home that fits your lifestyle, in a location that has the amenities and community services that you want.
- Get pre-approved for a loan by a local mortgage professional. Your real estate consultant can recommend trustworthy brokers. Without a pre-approval you will not be in a position to make an offer. Almost all sellers will not even consider your offer unless you are pre-approved for a loan. Even if you do not think you can qualify for a loan, meet with a mortgage professional to build a plan of action to put you in position for home ownership.
- Know your housing priorities, including the type of structure, size, location, and community services that are important to you.
- Hire your own realtor to represent your interests as the buyer and to help you with the process.
- Know housing market trends before you start looking for a home. In a buyer’s market, there are a lot of homes for sale, with relatively few buyers, so sellers have to offer potential buyers additional incentives. In a seller’s market, there are a lot of buyers and relatively few homes, so sellers are likely to drive a hard bargain, and the home you want may be sold before you have a chance to make the offer.
- Make an offer that is realistic. Offers are usually conditional on the home inspection (see step 5), appraisal, having a clear title, and final approval of the loan.
- Provide an earnest money deposit, which in San Francisco, is 3% of the offer price. The earnest money deposit lets the seller know that you are serious about wanting to purchase the home. In most cases, if you retract your offer after all contingencies are removed, the seller keeps the deposit.
- A home inspection report provides an in-depth and impartial evaluation of any problems with the property. Your realtor will have suggestions regarding whom to use. When you make a written offer on a home, the contract should state that the offer is contingent on a home inspection conducted by a qualified inspector.
- If you are satisfied with the results of the inspection, then your offer can proceed, but be sure to negotiate and include, in writing, any financial adjustments, repairs or replacements that the seller agrees to make as a result of issues identified in the inspection report.
- Learn what is covered by homeowner’s insurance and what type of policy to purchase.
- Shop for a policy. Know how to read the policy and file a claim.
- The signing takes place at the title company about a week, to a week and a half before the closing.
- The title company provides you with title insurance, which protects you and the lender from claims by others against your new home.
- On signing day you will sign your loan and closing papers that make the sale final. Make sure your agent gets you a copy of the settlement statement before you go in to sign so that you can check the paperwork for errors. You will be required to bring picture ID and a cashier’s check (or wire transfer) to cover the closing costs.
- The “closing” is when the county records the sale. This is the final step. After the recording, you will be given the keys to your new home!
UPDATE: How Can the Mortgage Company LOSE Paperwork?
The stupidity of bureaucracy amazes me. If I weren’t so paranoid, I’d be laughing about this.
I got a lovely note late last week from the company who holds our mortgage. In their 1 1/4 page letter, they tell me they need “proof of insurance” because “our address is incorrect”. Not only does this note contradict itself in requesting information, it was an ironic indicator of how difficult it would be to talk to a human being and get a succinct resolution.
*Sigh*. Not. Again.
I spent 3 hours on the phone yesterday with two ladies who were complete fools. Finally, I make a third attempt and reached an employee who had been there for eight years. She tells me they need copies of the address change paperwork from six years ago. Never mind the fact I sent BEFORE, when the change happened, back in 2005. Somehow they ended up missing. How did this happen, I ask. No one seems to know. Someone literally lost essential pages out of our file and NO ONE KNOWS where they went. How can this happen?
Within this scramble, I also made a few phone calls to our insurance agent who does indeed have copies of the said address change on file and assures me we are covered completely and that this is the mortgage people’s screw up.
I have to say though, I feel savvy. Once I realized exactly what they needed, the papers were within arms’ reach. I also accessed a city website and gave them MORE property information. Because I’m just that paranoid, I called the city to make sure what I sent them was correct, and it was.
Now, just because I faxed them the information doesn’t mean I’m off the hook. I will be calling to follow up and make SURE they got this straightened out. The question now remains - How long will this take? I’ll be sure and let you know.
UPDATE: Sept. 5, 2011: I did get a note a week ago in the mail, if possible, even more vague than the first letter. “Thank you for the paperwork. It was added to your file.” No phone call per my request, no email. Just a really vague statement without the mortgage file number. I hate to call these asshats to confirm what is probably already true, but what else can I do??
Home ownership plan in Malaysia
Malaysia’s BLR (base lending rate) currently is 6.60%, one of the highest in recent years. Back in 2009 it was only 5.55%.
I’m ralking about BLR because it hugely ridiculous how that small percentage can affect how much and how long you pay off your mortgage. Banks in Malaysia usually offers vastly varied home ownership loan packages. The interest ranges, and it usually looks like this -> [BLR - (minus) 1.8*]
*the higher the better, explained below.
So for example you’re buying a house in a high BLR year like this one (6.60%). Your interest is actually 6.60 minus 1.8 (example) which is 4.80%. This means that ideally, YOU’D WANT A LOW BLR AND A HIGH MINUS NUMBER. I can’t remember source now but I can recall a property forum telling people that a year back you can get BLR minus (up to) 2.5 which is freaking AMAZING.
(Last year’s BLR was 6.30% if not mistaken. 6.30-2.5 is a mere 4.05% interest rate!!)
To put that in perspective, to purchase a Rm100,000 home in 30-year mortgage with a 4.80% interest rate is Rm188,879.71.
Where as the same valued home with a mortgage of 4.05% is only Rm172,909.43.
That’s about Rm16,000, or roughly 32 MONTHS of monthly mortgage payments you don’t have to
do, assuming you pay the same amount monthly!
(I’m using the home loan calculator app to get this figure, feel free to try yourself)
Conclusion? Wait until the BLR drops. Historically it will. After all, the highest BLR in Malaysia was 12point something percent (!!) back in 1998.
For Many in Britain, Being a Homeowner Is a Fading Dream - NYTimes.com
nytimes.comLONDON — For a large number of young adults in Britain, homeownership has become increasingly difficult to achieve, viewed as a distant goal attainable only later in life, if at all. That is a significant shift for a country where owning a home remains deeply rooted in the culture. Owners occupy a higher percentage of homes in Britain than in the United States, France or Germany.
DIY: Window Film
We have a door that leads outside from out kitchen. Here’s a glimpse before my little project:
It wasn’t the worst thing in the world because it looks onto the side of our neighbor’s house, which has no windows. There isn’t a lot of foot traffic around that side of our house, and even if someone came up and looked in they would just be seeing bit of our kitchen (like the oh-so-exciting side of our refrigerator). Regardless, we knew that we had to do something so we wouldn’t feel so exposed when walking around in the evenings.
I didn’t love the thought of blinds (too dusty) or curtains (too country kitchen) for this door. Enter this rice paper privacy film (I got ours at Home Depot):
I watched a couple of YouTube videos on how to apply the stuff and it wasn’t too difficult. The finished product:
We still have light and a modern vibe without feeling like we’re on display.
Yay for DIY!
miss nora: oh do i have plans for you
Yesterday I told you all about Us v. Miss Nora, round one and the year that was. All in all, I’m feeling a little more zen about things today. Most likely due to the praise and encouragement of some lovely readers who I am fortunate enough to call friends. So today is about the plans, the to-dos, the dreams.
Nora still needs a lot of work, so I’m going to break it down into three categories: functional (structural, necessary, high priority), aesthetic (beautifying, the fun stuff, unfortunately low priority), and power couple (a combination of the two, mid to high priority).
Functional
- new roof
- full re-wire job
she’s currently rocking nob & tube wiring - demolish and rebuild garage
there’s no saving her and as is she’s too small for Bill’s truck anyway - chimney inspection and possible repair
- insulation
she’s got none, which means our new windows are slightly a moot point - replace remaining 6 windows
we were on the fence about a few of them, because they have so much charm, but it’s really necessary at this point - install glass block windows
for the basement; ivy is growing through one of them as of now - waterproof basement
- patch opening in attic
we have birds
Aesthetic
- remove carpet and refinish existing wood floors throughout
- remove wallpaper in two rooms
guest bedroom and dining room - new tile in entryways and kitchen
- paint in almost every room
- the yard
it’s an absolute mess - transport wedding arbor from Bula to backyard
- furniture
this may always be a work in progress though - second story back porch improvements
- fireplace surround and mantle makeover
Power Couple
- main bathroom overhaul
showering in the basement is the worst - full siding job on the exterior
bill is fighting me on this one - repair porch
did I mention that I fell through our porch banister? - increase exterior lighting and outlets
mainly for the sake of christmas lights - repave driveway
- add portico to side entry
it’s our main entrance and there’s nothing to keep us dry while hauling groceries in or fidgeting with the lock - new exterior doors
they don’t seal properly so we lose a lot of heat - driveway gate
to keep the puppies in the back yard without parental supervision - build back deck off kitchen
for grilling, entertaining, and a puppy-friendly entrance/exit
I’m fairly certain that’s the long and short of it.
Who wants to help?
A Nation of Renters With Low FICA Scores | CR News Reports©
amplify.comPeople who may want to buy see what home ownership did to their friends or family and few will buy in. Soon, credit will be something only the privileged have.
