Tag: property

8 Upfront Costs of Buying a House

Looking to buy a home soon? There will be upfront costs of buying a house.

You may have found a house that you like. You may have been approved for a mortgage loan, and have your down payment ready to make an offer. If you think that, at that point, all of the hard work is over, well think again.

In addition to the down payment, which can be significant depending on the price of the property, there are plenty of upfront costs of buying a home. As a first time home buyer, this may come to you as a surprise. So, be ready to have enough cash to cover these costs. In no particular order, here are 8 common upfront costs of buying a house.

If you are interested in comparing the best mortgage rates through LendingTree click here. It’s completely free.

What is an upfront cost?

An upfront cost, as the name suggests and in terms of buying a house, is out of pocket money that you pay after you have made an offer on a property. They are also referred to as closing costs and cover fees such as inspection fees, taxes, appraisal, mortgage lender fees, etc. As a home buyer, these upfront costs should not come to you as a surprise.

What are the upfront costs of buying a house?

Upfront cost # 1: Private mortgage insurance cost.

If your down payment is less than 20% of the home purchase price, then your mortgage lender will charge you a PMI (private mortgage insurance). A PMI is an extra fee to your monthly mortgage payment that really protects the lender in case you default on your loan. Again, depending on the size of the loan, a PMI can be significant. So if you know you won’t have 20% or more down payment, be ready pay an extra fee in addition to your monthly mortgage payments.


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Upfront cost #2: inspection costs.

Before you finalize on a house, it’s always a good idea to inspect the house for defects. In fact, in some states, it is mandatory. Lenders will simply not offer you a mortgage loan unless they see an inspection report. Even if it is not mandatory in your state, it’s always a good idea to inspect the home. The inspection cost is well worth any potential defects or damages you might encounter.

Inspection fee can cost you anywhere from $300-$500. And it is usually paid during the inspection. So consider this upfront cost into your budget.

Upfront cost # 3: loan application fees.

Some lenders may charge you a fee for applying for/processing a loan. This fee typically covers things like credit check for your credit score or appraisal.

Upfront cost # 4: repair costs.

Unless the house is perfect from the very first time you occupy it, you will need to do some repair. Depending on the condition of the house, repair or renovating costs can be quite significant. So consider saving up some money to cover some of these costs.

Upfront cost # 5: moving costs.

Depending on how far you’re moving and/or how much stuff you have, you may be up for some moving costs. Moving costs may include utilities connections, cleaning, moving

Upfront cost # 6: Appraisal costs.

Appraisal costs can be anywhere from $300-$500. Again that range depends on the location and price of the house. You usually pay that upfront cost after the inspection or before closing.

Upfront cost # 7: Earnest Money Costs

After you reach a mutual acceptance for the home, in some states, you may be required to pay an earnest money deposit. This upfront costs is usually 1% to 3% of the home purchase price. The amount you pay in earnest money, however, will be subtracted from your closing costs.

Upfront cost # 8: Home Associations Dues

If you’re buying a condo, you may have to pay homeowners association dues. Homeowners association dues cover operation and maintenance fees. And you will pay one month’s dues upfront at closing.

In conclusion, when it comes to buying a house, there are several upfront costs you will need to consider. Above are some of the most common upfront costs of buying a house.

Click here to compare mortgage rates through LendingTree. It’s completely FREE.

MORE ARTICLES ON BUYING A HOUSE:

10 First Time Home Buyer Mistakes to Avoid

How Much House Can I afford

5 Signs You’re Better Off Renting

7 Signs You’re Ready to Buy a House

How to Save for a House


Not All Mortgage Lenders Are Created Equally

When it comes to getting a mortgage, rates and fees vary. LendingTree allows you to view and compare multiple mortgage rates from multiple mortgage lenders all in one place and at the same time, so you can choose the best rates for your needs. LendingTree makes getting a loan faster, simpler, and better. Get started today >>>

The post 8 Upfront Costs of Buying a House appeared first on GrowthRapidly.

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GSCU Mortgage Rates Reviews: Today’s Best Analysis

Granite State Credit Union (GSCU) provides members with a variety of mortgage products across the state of New Hampshire.

GSCU AT A GLANCE

Year Founded 1945
Coverage Area New Hampshire 
HQ Address 1415 Elm Street, Manchester, New Hampshire 03101
Phone Number 1-800-645-4728

 

GSCU COMPANY INFORMATION

  • Services the state of New Hampshire
  • Offers conventional loans, such as fixed- and adjustable-rate mortgages
  • Provides FHA and VA loans to qualifying individuals
  • Allows first-time homebuyers to make down payments of zero to three percent
  • Member of the NHCUL and CUNA
  • Allows borrowers to use gifted funds for the down payment and closing costs on certain loan products

Granite State Credit Union provides a variety of mortgage products to individuals across the state of New Hampshire. It offers traditional loans, such as fixed- and adjustable-rate mortgages, as well as government-assisted loans and options for individuals who cannot put 20 percent down on a new home.

GSCU Mortgage Facts

  • Services the state of New Hampshire
  • Offers conventional loans, such as fixed- and adjustable-rate mortgages
  • Provides FHA and VA loans to qualifying individuals
  • Allows first-time homebuyers to make down payments of zero to three percent
  • Member of the NHCUL and CUNA
  • Allows borrowers to use gifted funds for the down payment and closing costs on certain loan products

Overall

gscu mortgage rates reviewGranite State Credit Union provides a variety of mortgage products to individuals across the state of New Hampshire. It offers traditional loans, such as fixed- and adjustable-rate mortgages, as well as government-assisted loans and options for individuals who cannot put 20 percent down on a new home.

Current GSCU Mortgage Rates

GSCU Mortgage Products

Granite State Credit Union provides a variety of home mortgage products. Its offerings consist of traditional mortgages and government-assisted loans, as well as programs for first-time home-buyers and affordable home refinances.

Fixed-Rate Loans

Fixed-rate loans are the best choice for homebuyers who plan on staying in their home for an extended period. With fixed-rate loans, buyers can expect their principal and interest rates to remain the same throughout the loan’s lifetime. GSCU offers fixed-rate mortgages for lengths of 10, 15, 20, and 30 years.

Adjustable-Rate Loans

An adjustable-rate mortgage (ARM) provides borrowers with an interest rate that may vary throughout the loan term. Typically, these mortgages have a lower initial rate than fixed-rate loans, giving potential customers more financial freedom when looking for a new home.

After the initial period, the rates and payments associated with these mortgages may rise or fall to adjust to market prices. Typically, these costs will fluctuate on an annual basis.

Many companies, including GSCU, provide a cap that prevents these costs from getting too high from one year to the next. GSCU recommends these types of mortgages for home-buyers who do not plan on staying in the house for the loan’s full term. GSCU offers 1/1, 3/1, 5/1, and 7/1 ARMs.

First-Time Homebuyer Loans

GSCU offers excellent deals on mortgages for first-time buyers. The credit union gives borrowers the flexibility to choose a fixed- or adjustable-rate mortgage and even provides no and low down payment options to first-time buyers. The No Down Payment mortgage allows borrowers to take out a 5/1 ARM and pay zero percent down on the home.

The Low Down Payment Adjustable loan offers a 3 percent down payment with a 3/3 ARM and the option to refinance into a fixed mortgage if so desired. The Low Down Payment Fixed loan offers a 3 percent down payment and a 30-year fixed-rate mortgage. For Low Down Payment Adjustable and Fixed mortgages, borrowers can use gifted funds for the down payments and closing costs on their homes.

FHA Loans

Unlike some other credit unions, GSCU offers FHA loans to home-buyers who do not qualify for other loan programs. Borrowers may have a high debt-to-income ratio, low credit score, or the inability to put 20 percent down on the home. The Federal Housing Administration (FHA) created these types of home loans to grant buyers the opportunity to invest in property. GSCU allows 100 percent of the closing costs to be gifted.

VA Loans

GSCU allows veterans, military members, and their spouses to apply for VA loans. These types of mortgages are backed by the U.S. Department of Veterans Affairs (VA). Qualified individuals can make a low down payment on the home and keep up with affordable monthly payments.

HARP Loans

The Federal Housing Finance Agency (FHFA) introduced the Home Affordable Refinance Program (HARP) as part of their Making Home Affordable™ initiative. HARP allows eligible homeowners to refinance their mortgages into a lower interest rate to keep their finances secure. HARP provides this opportunity for individuals who otherwise may not qualify for refinancing due to their declining home value.

GSCU Mortgage Customer Experience

Granite State Credit Union offers a variety of online resources that help current and prospective borrowers research home loan options. GSCU’s website contains several mortgage calculators, which assist home-buyers in determining how much they can take out on a home loan.

It also provides information about their different mortgage products, which helps borrowers figure out what type of home loan is right for them. GSCU has a Refer-a-Loan option, which incentivizes borrowers who refer a New Hampshire resident or business owner to procure a loan with the credit union.

In exchange for this referral, both parties can receive $25 for consumer loans or $50 for the mortgage and home equity loans.

GSCU Lender Reputation

Founded in 1945, Granite State Credit Union has provided affordable mortgage rates to New Hampshire residents for over 70 years. Its Nationwide Mortgage Licensing System ID number is 477276.

Since the credit union only services the states of New Hampshire, it does not have many online customer reviews. It is not accredited by the Better Business Bureau, and has no reviews on the site, but maintains an A+ rating.

GSCU Mortgage Qualifications

Although GSCU has flexible mortgage qualifications for individuals taking out FHA loans, its qualification requirements for individuals requesting other home loans are similar to mortgage industry standards.

First and foremost, the credit union prioritizes credit score when approving someone for a loan or for calculating their rates. FICO reports that the industry-standard credit score is 740. However, those with credit scores above 760 can expect the best mortgage rates.

Credit score Quality Ease of approval
760+ Excellent Easy
700-759 Good Somewhat easy
621-699 Fair Moderate
620 and below Poor Somewhat difficult
No credit score n/a Difficult

Buyers should typically expect to put 20 percent down on the home, unless they qualify for a government-assisted loan. In some cases, buyers can anticipate paying as little as zero to three percent on their mortgage down payment.

With certain types of loans, such as first-time home-buyer, FHA, and VA loans, GSCU allows borrowers to use gifted funds to make down payments and pay closing costs. However, those taking out a traditional fixed- or adjustable-rate mortgage should anticipate paying these costs on their own.

History of GSCU

Granite State Credit Union (GSCU) was founded in 1945 in Manchester, New Hampshire. Founder John Edward Grace, who previously worked as a city bus driver, put down an initial deposit of $15.

With the work put forth by John and his wife, Betty, GSCU achieved notability and success before merging, in late 2003, with the Acorn Credit Union. GSCU is currently a member of the New Hampshire Credit Union League (NHCUL) and Credit Union National Association (CUNA). It offers a selection of home loan products, including fixed- and adjustable-rate, VA, FHA, HARP, and first-time home-buyer loans.

Bottom Line

If you live in New Hampshire, GSCU may be a great fit for you! With a variety of mortgage products, GSCU has something to offer for everyone. For more information, visit their website. 

The post GSCU Mortgage Rates Reviews: Today’s Best Analysis appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

We Earn $200,000 and Can’t Save. Help!

Mia, 35 and her husband Luke, 36, earn a combined $200,000 per year. But after paying their mortgage and rental property loan, as well as car and student loans, child care, and other living expenses, the Los Angeles couple has a difficult time socking away money in savings.

They do have about $10,000 in a rainy day account, which could cover their expenses for about one month. But adding to the account has been proving difficult.

Luke feels confident that if they ever run into a serious financial bind, they could always take advantage of their low-interest home equity line of credit. But Mia isn’t comfortable with that route. She’d prefer to have more cash on hand.

A bit more background on the couple and where they stand financially:

Luke recently transitioned to a new job as a government attorney, which he loves, but it also meant taking a 50% pay cut. That’s impacted their ability to spend and save as comfortably in recent months. It was an unexpected opportunity for which the couple wasn’t financially prepared.

Mia and Luke would like an objective look at their finances to discover ways to reduce spending, increase saving and possibly find new revenue streams. “I’d love to figure out a side-hustle, so that I can eventually leave my job and spend more time with the kiddos,” says Mia, who works in marketing. Other goals including affording a new car in a couple of years and remodeling their primary residence.

Here’s a closer look at their finances:

Income:

  • Combined salaries: $200,000 per year
  • Net rental income: $6,000 per year

Debt:

  • Car and student loan debt. $13,000 combined at 2%
  • Mortgage at primary residence $845,000 at 3.625%
  • Mortgage at rental property $537,000 at 3.5%
  • HELOC on primary residence: $200,000 (have not used any of this credit)

Retirement:

  • Mia: contributes about $1,000 total each month, including a company match
  • Luke: contributes about $1,000 total each month, including a company match

Emergency Savings: $10,000

College Savings: The couple has 529 college savings funds for both of their children. They allocate their cash back rewards from credit cards towards these accounts. Currently they have about $10,000 saved for their 4-year old and $5,000 saved for their 1-year old child.

Top Monthly Spending Categories:

  • Primary residence mortgage: $4,000
  • Primary residence property tax: $1,100
  • Childcare: $1,900 (daycare for both children, 3 days per week. Grandmother watches other 2 days per week)
  • Food (Groceries/Eating Out): $800
  • Car and student loan payments: $450

From my point of view, I think the biggest hole in Mia and Luke’s finances is their rainy day savings bucket. Relying on a HELOC to cover an unexpected cost is not really an ideal plan. In theory, the money can be used to cover expenses and the interest rate would probably be far lower than the rate on a credit card. But in reality, tapping a HELOC means falling further into debt. They do have $10,000 saved, which is good. But it’s not great.

If not for an emergency, the savings can allow them to achieve other goals. The couple mentioned wanting to buy a car in a couple years. This will probably require a down payment. Having cash can also assist with renovating their home.

Here are my top three recommendations:

Transfer Rental Income Towards Savings

Their previous residence is now a rental property. It nets them about $500 per month. The couple is using this money to pad their living expenses. Can they, instead, move this into their savings account for the next few years? The way I see it, they should have a proper six month cushion in savings to tide them over in an emergency and/or if they need money to address their goals. This rental income isn’t going to get them to this 6-month reserve too quickly, but it’s a start.

Carve Out Another $500 for Savings

While I don’t have a detailed breakdown of all of the family’s monthly expenses, I can bet that they can pare their expenses to save an additional $300 to $500. A few dinners out, some unplanned purchases at the grocery store (because you took the kids) and a couple monthly subscription plans can easily add up to $500 in one month. Whenever I want to save more, I schedule money to transfer out of my checking and into savings at the top of the month. I do this automatically and only spend whatever money I have left. I’d suggest doing this for the first month and seeing how it feels. Do you really notice the money is gone? If yes, revisit some of your recurring costs and decide on trade-offs. If Luke’s salary has decreased by 50% then the couple needs to make some modifications to their spending. The math, otherwise, won’t add up.

Can Mia Adjust Her Work Structure?

Mia is interested in a side hustle, too, to bring in extra income (which I highly recommend). Sites like tutor.com, care.com, taskrabbit.com and others can help you find quick work within her preferred time frame. In the meantime, can she and her husband find ways to adjust their work hours or commute, which saves gas, time and money?

Mia’s commute to work is one hour each way. That’s ten hours per week stuck in a car. And my guess is that while Mia’s driving, she’s paying for daycare, for at least some of those hours. Could she work from home one or two days per week to reduce her time in traffic, as well as her child care costs?

Bottom line: When Luke’s income dropped by 50%, the couple didn’t adjust spending. It may help to take pen to paper and imagine they were building their budget for the first time. Take all of their expenses off the table and rebuild the budget and lifestyle to better align with their adjusted income. Start with the absolute needs first: housing, insurance, food. And really scrutinize all other expenditures. Unless it’s an absolute need that they can easily afford it, consider shutting it off until they’ve reached a 6-month savings pad.

The post We Earn $200,000 and Can’t Save. Help! appeared first on MintLife Blog.

Source: mint.intuit.com

Who Can and Cannot Witness a Will?

A will is notarized

A will is an important part of your financial plan. When you create a will and testament, you’re creating a legal document that determines how your assets will be distributed once you pass away. You can also use a will to name legal guardians for minor children. When making a will and testament, it’s important to follow the rules in your state to ensure the will is valid. One of those rules centers on the requirements for witnesses. For more guidance on the intricacies of wills and estate planning, consider enlisting the services of an expert financial advisor.

Why Wills Need to Be Witnessed

A will is a legal document but in order for it to be binding, there are certain requirements that need to be met. For instance, although state laws regarding wills vary, states generally require you to be of legal adult age to make a will. You must also have testamentary capacity, meaning you:

  • Must understand the extent and value of the property you’re including in the will
  • Are aware that you’re making a will to decide who will inherit your assets
  • Aren’t acting under duress in making the will

Having someone witness your will matters in case questions are raised over its validity later or there is a will contest. For example, if one of your heirs challenges the terms of your will a witness may be called upon in court to attest that they watched you sign the will and that you appeared to be of sound mind when you did so.

In other words, witnesses add another layer of validity to a will. If all the people who witnessed the signing of a will are in agreement about your intent and mental state when you made it, then it becomes harder for someone else to dispute its legality.

Who Can Witness a Will?

When drafting a will, it’s important to understand several requirements, including who can serve as a witness. Generally, anyone can witness a will as long as they meet two requirements:

  • They’re of legal adult age (i.e. 18 or 19 in certain states)
  • They don’t have a direct interest in the will

The kinds of people who could witness a will for you include:

  • Friends who are not set to receive anything from your estate
  • Neighbors
  • Coworkers
  • Relatives who are not included in your will, such as cousins, aunts, uncles, etc.
  • Your doctor

If you’ve hired an attorney to help you draft your will, they could also act as a witness as long as they’re not named as a beneficiary. An attorney who’s also acting as the executor of the will, meaning the person who oversees the process of distributing your assets and paying off any outstanding debts owed by your estate, can witness a will.

Who Cannot Witness a Will?

Two minors looking out a windowStates generally prohibit you from choosing people who stand to benefit from your will as witnesses. So for example, if you’re drafting a will that leaves assets to your spouse, children, siblings or parents, none of them would be able to witness the will’s signing since they all have an interest in the will’s terms. Will-making rules can also exclude relatives or spouses of any of your beneficiaries. For instance, say you plan to leave money in your will to your sister and her husband with the sister being the executor. Your sister can’t be a witness to the will since she’s a direct beneficiary. And since her husband has an indirect interest in the terms of the will through her, he wouldn’t qualify as a witness either.

But married couples can witness a will together, as long as they don’t have an interest in it. So, you could ask the couple that lives next door to you or a couple you know at work to act as witnesses to your will.

You may also run into challenges if you’re asking someone who has a mental impairment or a visual impairment to witness your will. State will laws generally require that the persons witnessing a will be able to see the document clearly and have the mental capacity to understand what their responsibilities are as a witness.

Note that the witnesses don’t need to read the entire will document to sign it. But they do need to be able to verify that the document exists, that you’ve signed it in their presence and that they’ve signed it in front of you.

How to Choose Witnesses for a Will

If you’re in the process of drafting a will, it’s important to give some thought to who you’ll ask to witness it. It may help to make two lists: one of the potential candidates who can witness a will and another of the people who cannot act as witnesses because they have an interest in the will.

You should have at least two people who are willing to witness your will signing. This is the minimum number of witnesses required by state will-making laws. Generally, the people you choose should be:

  • Responsible and trustworthy
  • Age 18 or older
  • Younger than you (to avoid challenges presented if a witness passes away)
  • Free of any interest in the will, either directly or indirectly
  • Willing to testify to the will’s validity if it’s ever challenged

When it’s time to sign the will, you’ll need to bring both of your witnesses together at the same time. You’ll need to sign, initial and date the will in ink, then have your witnesses do the same. You may also choose to attach a self-proving affidavit or have the will notarized in front of the witnesses.

A self-proving affidavit is a statement that attests to the validity of the will. If you include this statement, then you and your witnesses must sign and date it as well. Once the will is signed and deemed valid, store it in a secure place, such as a safe deposit box. You may also want to make a copy for your attorney to keep in case the original will is damaged or destroyed.

The Bottom Line

A last will and testamentMaking a will can be a fairly simple task if you don’t have a complicated estate; it can even be done online in some situations. If you have significant assets to distribute to your beneficiaries or you need to make arrangements for the care of minor children, talking with an estate planning attorney can help you shape your will accordingly. Choosing witnesses to your will is the final piece of the puzzle in ensuring that it’s signed and legally valid.

Tips for Estate Planning

  • Consider talking to a financial advisor about will-making, trusts and how to create a financial legacy for your loved ones. If you don’t have a financial advisor, finding one doesn’t have to be difficult. SmartAsset’s financial advisor matching tool can help you connect with professional advisors in your local area in just a few minutes. If you’re ready, get started now.
  • A will is just one document you can include in your estate plan. You may also opt to establish a living trust to manage assets on behalf of your beneficiaries, set up a durable power of attorney and create an advance healthcare directive. A trust can help you avoid probate while potentially minimizing estate taxes.

Photo credit: ©iStock.com/djedzura, ©iStock.com/SanyaSM, ©iStock.com/Spanic

The post Who Can and Cannot Witness a Will? appeared first on SmartAsset Blog.

Source: smartasset.com

Puerto Rico Home of the Late Astrologer Walter Mercado Available for $395K

Walter Mercado Puerto Rico house for saleAlexander Tamargo/Getty Images

It’s in the stars. The home of the late astrologer and psychic Walter Mercado in San Juan, PR, is now on the market for $395,000. The legendary Spanish-language television personality, who died in 2019 at the age of 87, delivered his daily horoscopes with panache, often wearing a cape, and was known for wishing his huge audiences “Mucho, mucho amor.”

Mercado broadcast to 120 million devoted viewers daily for decades, according to a 2019 museum exhibit that explores his influence. Although he last aired his show from Miami, he kept a home in Puerto Rico.

The property initially landed on the market in September 2020 for $495,000. But with no buyer forthcoming, the price was dropped to $430,000 in December, and subsequently to its current asking price.

We predict that a buyer will be quite pleased with the place.

The listing describes the property as “unique” and located in an “exclusive area” of San Juan. It also offers a flexible floor plan, with two separate living accommodations on separate floors.

The first level, entered from a foyer, features three bedrooms, three bathrooms, a living room, dining room, and kitchen. The layout includes an office space with a small kitchen and half bathroom. The interiors are painted bright and cheery reds and yellows. The stairs are covered with decorative tiles. Other details of the 1970 abode include wrought-iron railings, arched doorways, and fanciful light fixtures.

Upstairs, the separate living space includes two large bedrooms, two bathrooms, a small kitchen, two terraces, a living room, dining room, family room, and balcony.

Outside, the grounds include a terrace, pool, gazebo, and patio. The covered carport has room for at least four cars. An electric gate secures the entrance to the property. Other amenities include an electric generator that powers the entire house, as well as security doors and windows. 

Born Walter Mercado Salinas, the flamboyant entertainer grew up in Puerto Rico, and began delivering his predictions in elaborate costumes on a weekly show on Telemundo back in the 1970s.

Mercado’s reach expanded in the 1990s, when his show moved to Univision, where he delivered his soulful brand of astrology until 2010. After that, he maintained a public presence through a website and other appearances. He also wrote a horoscope column in El Nuevo Herald, the Spanish-language sister of the Miami Herald.

He is the subject of a 2020 documentary, “Mucho Mucho Amor: The Legend of Walter Mercado,” available on Netflix.

Gretchen Garcia with Real Estate Opportunities holds the listing.

The post Puerto Rico Home of the Late Astrologer Walter Mercado Available for $395K appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

Extreme Makeover’s Ty Pennington Lists Bright and Beautiful Venice Beach Home

Reality TV star Ty Pennington, known for changing people’s lives with his energetic personality on the original version of Extreme Makeover: Home Edition, is now looking to cash in on his own home makeover. Pennington has just listed his house — a beautiful and bright 1927 Craftsman in Venice, Calif. — for $2,795,000.

Pennington put his home design expertise to good use and carefully restored the property earlier this year with the help of his trusted interior designer, Patrick Delanty. Delanty, also known to be Halle Berry’s designer, has long been working alongside Ty Pennington, serving as his design director for Extreme Makeover and running his on-air design segments, most notably his presence on The Oprah Winfrey Show, Rachel Ray Show, NBC’s Nightline and Good Morning America.

Just like its reality TV star owner, the home is bright, cheerful and quirky, with colorful interiors exuding creativity and style. The property is listed by Patrice Meepos of Compass.

inside ty pennington's bright home in venice, california
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 

Tucked away on a one-way street near the beach, Venice Boardwalk, canals and Abbot Kinney’s hot spots, the original 1927 dwelling has 3 beds, 3 baths, and a sizable living room with decorative fireplace, along with a sunken family room with large windows overlooking a newly landscaped, private back yard with koi pond.

inside Ty Pennington's house in Venice, CA
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
living room in Ty Pennington's house in Venice, CA
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington bedroom
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
sunken living room in ty pennington's house
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
inside Ty Pennington's house in Venice, CA.
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 

The ground level hosts the kitchen, laundry room, and bedroom with direct backyard access, as well as a full bath. On the upper level, there’s a master retreat and a second bedroom. 

Ty Pennington added quite a few special touches to the 2,102-square-foot home, including bamboo flooring, baths adorned in vintage-inspired ceramic tile, a master bath sporting a standalone shower and an antique cast-iron freestanding tub, kitchen with concrete countertops and a wraparound, porcelain-tiled porch. There’s also a beautiful backyard that looks like a great place to entertain guests.

ty pennington kitchen
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington kitchen island
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington backyard
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 
ty pennington backyard entertaining area
Ty Pennington’s house in Venice, CA. Image credit: Anthony Barcelo 

While Ty Pennington did not return to host HGTV’s 2020 version of Extreme Makeover: Home Edition (which is hosted by Modern Family‘s Jesse Tyler Ferguson), you can catch the two time Emmy award winner in his other home improvement series, Trading Spaces — which recently restarted airing after a 10-year hiatus.

You can also get more tips from the home design expert from his latest book, Good Design Can Change Your Life, which is an intimate look at Ty’s design inspirations and is full of décor advice and tips. While we haven’t yet had the chance to pick up the book ourselves, according to his website the book is part reference, and part behind-the-scenes from Ty’s own home remodeling, which means the Venice home is already a bookshelf hit.

More beautiful celebrity homes

Morgan Brown Re-Lists Stunning West Hollywood Home Amid Split from Actor Gerard Butler
Wayne Gretzky is Selling his $22.9M California Home Designed by ‘The Megamansion King’
Chrissy Teigen & John Legend Buy $17.5M Beverly Hills Mansion After Cashing Big on Previous Home
5 Fabulous Homes of Your Favorite Formula 1 Drivers

The post Extreme Makeover’s Ty Pennington Lists Bright and Beautiful Venice Beach Home appeared first on Fancy Pants Homes.

Source: fancypantshomes.com

What To Know Before You Buy Lakefront Property

Before you sign on that dotted line to purchase a lakefront property of your own, there are several important factors to consider.

The post What To Know Before You Buy Lakefront Property appeared first on Homes.com.

Source: homes.com

How to Prepare For Closing Day [Free Download]

After you’ve successfully put in an offer for your dream home and set a date for closing, you’ve come to the final steps of your home buying journey. However aside from getting the keys, you’ll want to be prepared for the additional costs, and steps that will be required for a successful home purchase.

The Preparing For Closing Day guide contains information, tips, and more about what to expect on the big day. The guide will also include a checklist of what to prepare and an example of how to calculate the funds needed for closing.

To learn more about how you can best prepare for closing day, get our free buyer’s guide here.

Pre-Closing Day Checklist

To ensure a smooth process for your home transaction, you’ll still have a few steps to go through before you get your keys. Here are 6 steps to check off your list before closing day:

  1. Review your contract
  2. Complete a final walkthrough
  3. Meet with your lawyer
  4. Purchase home insurance
  5. Know how much cash is required at closing
  6. Secure cash required for closing

Cash Required At Closing

Understanding the costs that will be required at closing day is important to know even before you start your home search. Not only will you be prepared for what to expect, but this can help you with budgeting your costs.

Some examples of costs to include in your calculation:

  • Down payment
  • Title insurance
  • Legal fees
  • Land transfer tax

Statement of Adjustments

Another important document is your statement of adjustments, which will display any credits to both the buyer or seller as well as the final amount payable by the buyer on closing day. You can expect the following to be listed in the statement:

  • Purchase price
  • Your deposit
  • Prepaid property taxes, utilities or fuel
  • Prepaid rents 
  • Appraisal fee
  • Land survey fee

For a sample calculation of cash required at closing, download our Preparing For Closing Day guide here.

The post How to Prepare For Closing Day [Free Download] appeared first on Zoocasa Blog.

Source: zoocasa.com

Shelter Insurance Review: Car, Home, and More

Shelter Insurance is a mutual insurance company that was founded in 1946 and operates out of Columbia, Missouri. This highly-rated, award-winning insurance company offers a wealth of insurance products across the states of Colorado, Iowa, Arkansas, Kansas, Kentucky, Indiana, Illinois, Mississippi, Missouri, Nebraska, Ohio, Nevada, Oklahoma, Tennessee, and Louisiana.

In this Shelter Insurance review, we’ll look at insurance policies, coverage options, customer satisfaction, liability cover, and more, before seeing how Shelter compares to other leading insurance companies.

Shelter Car Insurance Coverage Options

Shelter is a leading auto insurance company in Missouri and other serviced states. It isn’t always the cheapest (more on that below) but it does provide a wealth of coverage options, including:

Liability Coverage

Liability coverage is the most basic, bare-bones insurance type and one that is required in most states. Liability insurance covers bodily insurance (per person and per accident) and property damage. It essentially covers you for the damage you do to another driver and their property during a car accident.

Collision Coverage

An optional form of auto insurance that covers you for damage done to your own vehicle, regardless of who was at fault. If you have collision coverage on your auto policy, you will get a payout when you hit a guardrail, wall, tree or building.

However, it’s one of the most expensive add-ons and a lot of the damage you do to your own vehicle may not be severe enough to warrant paying the deductible.

Comprehensive Coverage

With comprehensive coverage, you will be covered for many of the things that collision insurance doesn’t cover. For instance, it provides protection against vandalism and damage from extreme weather events. It also covers you in the event of an animal collision, which is surprisingly not covered by collision insurance.

Personal Injury Protection

With PIP insurance, you will be covered for some of the personal losses you incur due to an injury sustained in a car accident. For instance, if you’re hit by another driver and suffer severe injuries that cause you to miss work, PIP will pay for the money you lose. It will also cover the money needed to cover traveling for doctor and hospital appointments, as well as childcare costs.

Medical Payments

By adding medical payments cover onto your policy you will be protected against hefty medical bills resulting from a car accident. This option is required in just a few states but the coverage limits are often set very low.

Underinsured and Uninsured Motorist Coverage

Uninsured motorists are a growing problem on America’s roads. If you’re hit by one of these drivers and don’t have collision insurance, you could be left severely out of pocket. But not if you have underinsured/uninsured motorist insurance.

This coverage option will protect you against bodily injury and property damage resulting from an accident with an uninsured or underinsured driver.

Roadside Assistance

Shelter car insurance policies offer optional roadside assistance cover, which gives you up to $100 per claim and covers you for expenses accrued when you are stranded by the roadside.

Roadside assistance is an emergency service designed to help you get back on the road or to tow your car to a nearby garage. It includes everything from lost key replacement to fuel delivery and tire changes.

Rental Car Reimbursement

If your car is stolen or damaged so badly that it needs to spend several days or weeks in a repair shop, rental car reimbursement can help you to stay on the road. It will cover you for the money you spend on rental cars, which means you won’t miss a single important car journey.

Your coverage will be limited to a specific time period and you will not be covered for rentals that extend beyond this period.

Accidental Death

A form of life insurance that covers you for accidental deaths, such as car accidents. If you die in an accident, for example, your spouse or family members will receive a payout. There are many more restrictions than you get with term life insurance policies, but the premiums are also much lower.

Disability Income Coverage

PIP can cover you if you suffer serious bodily injuries and miss work as a result, but what happens if you’re forced to miss up to a year of work? That’s where Disability Income Coverage comes in. With Shelter, you will be paid a sum of money every week for up to a year.

GAP Insurance

If you bought your car on finance and wreck it soon after, the insurance payout may not be enough to cover the losses due to the interest payments and the rapid deprecation that new cars experience. With GAP insurance, you will be covered for that extra amount. As a result, this type of car insurance is often required by auto loan companies.

New Car Replacement

If you have a car that is less than a year old and has fewer than 15,000 miles on the clock, you can apply for the new car replacement program, which gives you a like-for-like replacement. This is an essential addition for anyone driving an expensive new vehicle as the losses could be catastrophic without it.

Other Shelter Insurance Options

Shelter offers multiple additional insurance options, many of which can be bought along with your car insurance, allowing you to save money with a multi-policy discount.

As with Shelter car insurance, we recommend comparing rates to other insurance companies, making sure you’re getting the best coverage for the lowest rates. There are a huge number of insurance companies in the United States offering the same coverage options found at Shelter, and many of them are cheaper:

Homeowners Insurance

A homeowners policy from Shelter will protect your property and everything in it. You can get cover for the dwelling, personal property, medical payments, personal liability, living expenses, and more.

Shelter also offers additional coverage options pertaining to electronics, sewer damage, earthquake damage, loss of farming equipment, and more.

Renters Insurance

If you rent your home, you won’t need property insurance, but you still need to protect your personal property and that’s where renter’s insurance comes. If your flat/house is burgled and you lose expensive items, including heirlooms, jewelry, artwork, and electronics, you will be covered.

Umbrella Insurance

With a minimum liability of $1 million, umbrella insurance will step in and provide cover above and beyond what you are offered elsewhere. If you have a lot of personal assets and are worried about being sued above what your liability insurance can pay, this is the policy for you.

Business Insurance

A business insurance policy from Shelter will protect your business against property loss, equipment damage, liability claims, and more. This is essential for all businesses and at Shelter you can choose a range of customization options to make sure the policy is perfectly suited to your needs.

Flood Insurance

Your home insurance policy doesn’t cover you for flood damage and this is true whether you’re with Shelter or not. However, you can add flood insurance to your Shelter insurance policy, with the rates dependent on where you live and how common floods are in your area.

Life Insurance

In addition to accidental death cover, Shelter also has term life and whole life insurance policies. These provide payouts to your loved ones in the event of your death.

Your age, activity, medical history, and health will dictate the size of your insurance premiums and your death benefit.

Shelter Car Insurance Cost

We ran some car insurance quotes and found that Shelter was consistently more expensive than providers like GEICO, Allstate, State Farm, and Progressive. In fact, when comparing quotes for young drivers, Shelter car insurance premiums were more than double those offered by GEICO and were also substantially higher than other major carriers.

In many states, including Kentucky and Louisiana, Shelter ranked as one of the most expensive providers. The rates were a little more promising in Missouri, but you’ll probably still get better offers elsewhere.

Regardless of what you think about Shelter Insurance and whether or not you have had good experiences with them in the past, we recommend getting quotes from other providers first.

Of course, it isn’t all about price, but it takes some incredibly impressive customer support and benefits for a $3,000 policy to take precedent over one that costs $1,500 or less, and we’re not convinced Shelter has that level of support or those benefits.

Bottom Line: Shelter Insurance Review

Shelter is a dedicated, capable, and financially strong insurance provider that offers extensive coverage for both drivers and homeowners. It has good reviews from policyholders, has high ratings from AM Best, JD Power and the Better Business Bureau (BBB), and there are very few complaints when compared to other providers.

Shelter serves a number of states and if you reside in one of these, it’s worth getting a quote. Just don’t forget to check other providers and don’t assume Shelter will offer the best rates. In our experience, it’s more likely to be one of the most expensive providers in your state, but you won’t know until you check.

Visit www.ShelterInsurance.com to learn more and to discuss an auto policy and/or home insurance policy with one of their representatives.

Shelter Insurance Review: Car, Home, and More is a post from Pocket Your Dollars.

Source: pocketyourdollars.com

Property Spotlight of the Day-Crescent Park

The Best Apartment Deals In DC Right Now | Cheap DC Apartments

We’re all about scoring a good deal here at Apartminty.  While we love perusing the top-of-the-line luxury apartments in DC, we also understand, sometimes an affordable rent is the better option. Either way, instead of you searching for Washington, DC apartments on Craigslist and property management company listing sites, we are delivering our choice of the best apartments to rent in DC right now.  Here’s our pick for the best Washington, DC apartment in Columbia Heights for rent today. Want more information on moving to DC? Check out Apartminty’s  Ultimate Guide to Moving to Washington, DC.

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 CRESCENT PARK

Crescent Park Apartments 

2 Elmira Street SE
Washington, DC 20032

1 Bedroom/1 Bath
$1115/month
Unit #: 3
710 Sq Ft
Available Now

Why it’s a great deal:
If you are looking for a true rental deal, Crescent Park is a dream.  Located right off of South Capitol Street, these spacious apartments come equipped with hardwood floors, updated kitchens, and free basic cable. With on-site maintenance and management teams, on-site laundry facilities, and the ability to pay your rent online! Looking for something a little different? Check out Apartminty’s guide How to Find an Apartment in DC.

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Read Property Spotlight of the Day-Crescent Park on Apartminty.

Source: blog.apartminty.com