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Starting October 3rd, home buyers who wish to apply for a mortgage will receive a new rate and fee quote forms from their respective lenders. Lenders are required to deliver it to buyers twice, which are bound to be implemented at the beginning and the end of the loan process.
This part of the federal mandate goes by the name TILA-RESPA Integrated Disclosures or TRID. As these changes to the home-buying process are set to take effect next month, it puts those in the mortgage industry wary of its inefficiency and those in search for their dream home slowed down in the buying stage.

However, these rules are actually set in place to make it easier for buyers to understand the entire process, while safeguarding them from surprises brought about by unexpected costs. It also aids in giving financial security to the economy and a smooth-running profession for agents, lenders and title professionals alike.

This extra time indeed defines the thin line between a seller accepting or rejecting an offer, hence it is essential to know ways on how to optimize your timing to be able to write offers that have an edge in closing faster than competing buyers.

Timing Rules for the Loan Estimate Disclosure

The initial disclosure is the Loan Estimate document, showing the rate quote, line-item fees, the term of the loan and cash required to close.

Before the lender can collect fees for the next critical steps of the home loan process such as ordering an appraisal, your intent to proceed based on the loan estimate must be obtained.

The Loan Estimate is given three days upon applying for a mortgage, either through mail or electronic delivery as governed by the Consumer Financial Protection Bureau or CFPB, which is the federal agency who enforces the TRID rules.

For instance, if you applied with a lender that utilizes mail delivery on late Wednesday, your Loan Estimate and intent-to-proceed disclosures are typically mailed out on Thursday and you most likely getting it on Saturday. They are prohibited from collecting fees and ordering your appraisal until the time they receive your consent. This day would already be Monday, which would count six days further into the process.

On the other hand, given a similar scenario of applying late on a Wednesday, a lender who utilizes electronic delivery could deliver your Loan Estimate and intent-to-proceed disclosures online on that evening. With your consent immediately on hand, collecting fees and ordering the appraisal is done right on the same evening, or on the very first day of the home loan process.

Timing Rules for the Closing Disclosure

The second document is the Closing Disclosure, which appears almost exactly the same as the initial Loan Estimate disclosure. This renders familiarity and allows buyers to easily review closing terms while comparing to the original quotes. Further clarity is also provided for in aspects of closing costs by outlining which line items are shouldered by the buyer, seller, or those paid by third parties.

This document is to be presented at least 3 days prior to signing documents at closing, following the new CFPB disclosure rules where Sundays and holidays are not included in the three-day waiting period. Also, day one pertains to the day after you receive the Closing Disclosure.

For instance, a lender sent it to you on a Wednesday, the three-day waiting period would basically be Thursday, Friday, and Saturday. Your loan will be funded and your home purchase closed on Monday, six days from the point you received the closing disclosure.

Fastest Timing for the New Disclosure Processes

Prior to October 3, 2015, funding can be performed the same day you get your final disclosures. Based on this timing, real estate agents are accustomed to writing purchase contracts accordingly.

Beginning October 3, 2015, agent and lender will closely coordinate when writing purchase contracts to ensure the new TRID timelines are followed through and write the contract in the soonest possible time.

The fastest timeline for post-application:

For a detailed loan estimate form mailed by a lender after application, the new TRID rules add six days from the beginning of the home loan process to getting an appraisal order.

For a detailed loan estimate form sent electronically by a lender, application to appraisal order is completed in a single day.

The fastest for pre-closing:

All closure disclosure documents sent by lenders must comply with the three-day waiting period once the Closing Disclosure is ready, where funding itself and closing can take more than 3 days as shown in the previous example.

The key to a smooth mortgage process with the shortest timings is by directly asking your lender about their streamlined process for CFPB’s new TRID rules. It is best to have them clarify their ideal closing timelines with your real estate agent before ultimately writing any offer.

 

When you are about 40 or 50 years old, you may still feel as if it is too early to worry about life after retirement. If you are buying a home right now however, and you’re planning to settle down there. You should keep in mind that, the home you select now plays a big role in impacting your options for the future. Below are some considerations that you should make before you buy your next home, especially if you are planning on living there for the rest of your life.

Can you walk along the neighborhood?

In your later years its important to consider living somewhere that’s centrally located. A place where you can walk or utilize public transit will make your life drastically easier.

The neighborhood should be walkable, well lit, well maintained and therefore safe for pedestrians. The neighborhood should also have some nearby restaurants, grocery stores and retail stores. It would also be ideal if it wasn’t far from your doctor & a pharmacy.

Are there local social opportunities?

Life after retirement can be fun if you live in a strong community that has many activities to be done and at the same time has many people to meet. A place that has enjoyable activities and can give you a chance to meet new people (especially if there is a nearby community center) is ideal. Note that, if there is a nearby community center, there may be some fun activities, volunteer opportunities and even some interesting classes that you can enjoy. Places of worship, libraries, parks and even museums should also be nearby. These areas are going to be very important later in life and they should be accessible to you at any time.

Is it the right size?

When moving to a home that you are going to retire in, you should consider downsizing. It is true that big house looks beautiful with its green lawn but you should ask yourself the question. How am I going to maintain it?” A bigger house requires more effort to maintain and if you’re not able to take care of it yourself, will you have the ability to hire a home maintenance company? The wisest thing to do is to move to a smaller house with less space that you can easily manage yourself.

Accessibility

Accessibility is very important because it makes it easy to live in both now and when you are retiring. The home should have;

· Wide walkways

· Single storey layout that has no entry stairs

· It should not have random steps

· There should be enough lighting

· The storage space should be easy to reach

· The counters should neither be too high nor too low

· There should be a walking shower with a seat

· The floor space should be big enough for easy movement

If you are having some accessibility challenges right now, it will only worsen as you age and therefore you should consider renovating it. Alternatively, you can move to a house that will make your movement much easier.

Can you modify it for aging in place?

Looking for the perfect house is not an easy thing and sometimes, you may find one that you love but its accessibility design is not good enough. If that is so, you should consider renovating it and doing so can make it ideal for aging. Some of the things that you can do include;

· Installing more lighting both indoors & outdoors to improve visibility

· Choosing chairs and sofas that have sturdy armrests & back support

· Installing handrails in the bathroom(i.e. to the bathtub & toilet) for extra support

· Adding non slip surfaces in the shower & bathtub to prevent falls

· Adding handrails to the indoor & outdoor stairs to help you maintain your balance

· Replacing doorknobs that are round with lever handles that can easily be opened

· Choosing countertops & tables that have rounded edges

Keep your plan in mind

By choosing a home that will support you as you get older you will make your life much easier. This is because, this house is not only going to be comfortable now, but in the future as well.

Therefore, when you hunt for a house, always keep your aging in mind and you will definitely find a house that you can live in for many years to come.

If you are a like a majority of the US population, when it comes to buying a home, you are likely going to rely on financing and working with a mortgage lender. Many people tend to feel overwhelmed at the process of choosing a lender, interest rates, and the process of buying a home in general. With the right agent by your side, and with the right information in hand, you shouldn’t be worried about the process. Consider these five factors when purchasing, to ensure you find the lowest rates, and the right lender for your mortgage needs.

1. How much does it cost? –
Understanding the true cost of home ownership is the initial phase of purchasing a home. Your ownership costs consist of 4 major categories which are: the principal, interest rates, taxes, and insurance. Your mortgage payment is made up of the principal and interest rates; interest will pay borrower fees while the principal amount pays down the overall balance due on the home. Amortization calculators come in handy when calculating ownership costs.

Property taxes are valued at 1.2% annually,, of the home’s total value. If you have a mortgage, homeowner’s insurance is typically required as well. Prices range from about $700 up to $1200 depending on the home’s value, and level of coverage you choose. For planned unit developments (PUD) or condos, there might be PITI insurance requirements as well. Homeowner association dues cover upkeep and maintenance, and general building or development amenities. Costs range from $100 to $1000 (if you are in a PUD, arrange for your own future maintenance costs).

2. Know your history –
Credit history plays a major role when lenders are determining interest rates. Lenders want individuals who have a strong credit history, pay bills on time, and have a high score; so, do your own research and know your score before applying. If you have a strong credit history this is great; otherwise, consider applying for a few lines of credit. Also note this will drop the score a few points, but after a few months of consistent, on time payments, it will go right back up. By law, you can get a free credit report. Do so, review it, and find ways to increase your score. From there, you can decide when the time is right to apply for a mortgage.

3. What’s your budget & personal timeline? –
You already know your monthly income, expenses, and general costs of purchases you make. So, you can somewhat budget for the amount you can set aside for a mortgage payment each month off of these figures. But, to choose the right loan, you should consider how long you plan on living in the home you wish to buy. With a 30 year, fixed mortgage loan,, you don’t expect your income to grow, or circumstances to change much; if this is the case, you can plan accordingly for the long run.

FHA, Fannie Mae, and VA loans are great for individuals who don’t have 20% to put down on a home; with these options, as little as 3% will allow you to buy a home. In addition to this, you still have monthly mortgage and PITI rates to calculate. An online mortgage calculator can help you get an idea of what your monthly costs of ownership will be.

4. Getting advanced approval –
Being pre-approved is something which will almost certainly guarantee you approval from a lender. If you do all the research and aren’t pre-approve before applying, it may result in disappointment if you end up being denied by a lender. Most lenders will require you to show that you are pre-approved before they even consider lending you money for a home; since it is a competitive market, a pre-approval letter may be required prior to obtaining financing.

5. What you need –
Not all lenders have the same requirements in place. So, before applying, make sure you know what a particular lender’s requirements for approval are. Full name and address, the number of children and dependents, your social security number, income, bank statements, divorce records, and several other documents may be required by a particular lender.

When applying , lenders will give you a checklist of all documents required; make sure you follow it and provide all records to ensure approval, and to ensure no delays in the process. If a lender only asks for a couple pay stubs, don’t send more or less (this can result in denial or may slow down the entire process). Only provide information requested of you, and make sure all documents are accurate and up to date.

You know what you need, and how the application process works. Now, do a bit more research on the process of home ownership, and be prepared for the application process when applying for your home purchase mortgage.

It all comes down to you and your assets when deciding whether or not you need an umbrella insurance policy. Homeowners insurance and auto insurance are two types of insurance almost everybody needs in the modern world we live in today. However an umbrella policy is something that you decide on. Nobody will try to force you into buying an umbrella policy so here is some good advice on how to decide whether or not you should purchase an umbrella policy.

What exactly is an umbrella policy?

An umbrella policy is specifically designed to provide the buyer with some extra liability coverage. This goes way beyond the coverage limits set on any existing auto, rent or home policies. Basically and umbrella policy is put in place to protect your assets from any major claims or lawsuits resulting from an incident on your property or an accident you cause in which someone is injured. Assets protected include any investments, your retirement fund, future earnings, your savings and of course your home. An umbrella insurance policy will also protect you in any slander or libel lawsuits.

How does the umbrella insurance policy actually work?

The umbrella policy will be triggered after the liability of an existing insurance policy has finally been exhausted. In other words, if there is somebody injured on your property and they require some extreme medical attention which exceeds the maximum limit set on your homeowners policy, the umbrella policy will take care of everything. This is because it will cover the rest of the expenses required after you exceed the limits of your original homeowners policy. Due to the fact that umbrella policies are only actually exercised after the liability limits of an existing policy has been exceeded, the majority of carriers have some requirements which need to be achieved before you become eligible to buy the coverage.

For example the large majority of providers will require that you carry around $300,000 in liability on your original homeowners insurance policy along with $250,000 of liability on your auto insurance policy. If you meet these requirements then you will be eligible for the extra $2 million in umbrella coverage.

You should expect the cost of umbrella coverage to be around $150 – $300 per year for your umbrella coverage of $1 million. Umbrella coverage is typically sold in $1 million increments and usually the maximum coverage is $5 million. Your second $1 million will cost an extra $75 every year and it is an additional $50 each year for every $1 million you purchase after that.

Who is best suited for investing in umbrella insurance?

It is a good idea for any homeowner who has a retirement fund to invest in an umbrella policy. However most people should also seriously consider it. It is crucial to bear in mind that you probably have a lot more to lose than you may initially assume. You have to take into account your savings, your home, any future earnings and investments are at a huge risk if you are sued for a lot of money. Many small business owners purchase an umbrella policy and it has proven to be a very wise decision. If you have a swimming pool or trampoline then you should take out an umbrella policy as injuries can easily be caused with them. If you are someone who likes to blog a lot and post on social media then you should consider the policy as you could be sued for slander or libel when talking about controversial topics.

At the end of the day if you take part in any activities or own any possessions which increase your liability risks then it is a very smart decision to purchase an umbrella insurance policy to stay protected in the future. If you cause an accident due to drink driving for example, your auto insurance liability would exceed the limits and you would need to cover the rest of any medical expenses by yourself. Any injuries or deaths caused in your home would also leave you emptying your savings accounts and retirement funds in order to cover funeral costs and medical treatment.

If you want to protect your assets then it is highly recommended that you invest in an umbrella policy to ensure your own protection. When you put everything in to perspective, the cost of an umbrella policy is incredibly cheap compared to the cost of a tragedy.

Moving to a new area for a job can be an exciting time in anyone’s life. Many companies will pay for some sort of relocation package for their employees if they have to move to a new area for the job they were hired for. This can be a great opportunity for a person to experience a new city and area. During this time, many people are unsure of how to fully take advantage of relocation benefits offered by companies.

Here are several tips for anyone that is having to go through a relocation process and how to make the most of it:

Ask Questions

Companies have a human resources department for a reason. If you have been hired on at a company that offers relocation assistance be sure to take advantage of it. Many people will only relocate once or twice during a career, so it is completely normal to have some questions during the process. Some companies will have much more generous relocation packages than others. As a new employee, it is important to understand all of the benefits that you qualify for in your new position. If you are unsure of how the relocation works at any point during the process, be sure to ask questions of the new company you are working for.

Never Rush a Decision

Many people get overly excited about landing a new job in a city they want to move to. Although it is an exciting time, it is important to never rush a decision that is going to affect you many years down the road. There are many choices for housing in different areas around the country. If you are wanting to purchase a home, be sure to spend the appropriate amount of time researching homes in the area that you will be living in. For many people, a home will be the largest purchase that they make in their lifetime. This means that a bad or rushed decision here can end up costing a person tens of thousands of dollars. Be sure to always take your time when making long term housing decisions during a career relocation.

Think About Taxes

Relocation benefits can vary greatly depending on the company. What does not vary is the fact that relocation benefits are taxed differently than normal income. Due to the wide variety of benefit packages offered, there is no cut and dry rule for people that are moving to a new job as far as taxes are concerned. In this case, it is probably best to get the advice of an expert in the area of taxes if the relocation package is quite large. The worst thing that could happen to a new employee is getting hit with thousands of dollars in taxes that were unexpected. By doing the homework on the front end, this unknown tax liability can be prepared for or avoided depending on the situation.

Assume Nothing

Many people make assumptions during the relocation process with a company. However, it is always a good idea to never make assumptions in your situation. Every company is going to have different policies surrounding their relocation packages. This means that a new employee must read the fine print in his or her package in order to fully understand what they qualify for. Just because an employee thinks they qualify for something does not mean that they do. It would be bad to go ahead and relocate and find out that you are stuck for the bill on certain services. Another point to ask about is if you leave to go to work for another company. Many companies require employees to pay part or all of the relocation services back if they leave during a certain time frame. This can be tens of thousands of dollars in many cases, so it would be wise to fully understand the liability if that were to happen.

Final Thoughts

Overall, relocating to a new city and company is an exciting time in anyone’s life. However, it is important to fully understand the process and how to prepare for it. There are many decisions that must be made, and it is important to never rush a decisions that will affect you for the next several years.

Typically, a home that is well priced and shows well should have sold within its first six weeks of being in the market. If the home stays on the market for too long, potential buyers may think that it is flawed, stale or tired.

For this reason, if your home is not getting as many offers as you would like, here are some ways through which you can improve its traction.

The Condition Of Your Most Important Rooms:

Although you cannot change the location of your home, its price and condition are factors that you have the ultimate control over. First, you really should consider the conditions of the bathrooms and kitchens before listing your home. These areas need to be de-cluttered and staged properly for a successful sale.

You need to make sure that your home is able to be shown in it’s best light. This means you really want to consider making all these upgrades before listing.  Buyers don’t like properties that have been on the market for a long time.  You need to make sure you’re 100% ready to be listed when you do put your home for sale.

Alternatively, if you are not willing to have make recommended upgrades to your home, consider this when you and your agent are discussing pricing.

Strategic staging and the market presentation

In order for you to sell quickly, you will need to invest your time in getting your house ready to sell. Preparing the home for sale will involve taking out personal items, large furniture, paintings, finishing floors, replacing carpets and making some renovations.

However, there is a risk that if you happen overdo the staging and spend money and time in the wrong places then it may all be a waste. Instead, focus on bathrooms, kitchens, cleaning and getting rid of clutter.

Ensure that both you and your agent are in agreement

It is important that you find an agent with who will help the both of you to have a clear understanding of the sales strategy and pricing before listing the home. Get an agent who will have your back and ensure that you are the same page at all times. With this synergy, you will be able to avoid any unnecessary conflicts during the time that your home is still in the market.

Clearly discuss all your intentions concerning the home with the agent and pay close attention to his or her feedback. Do not be surprised if your agent suggests a lower offer or price reduction since he or she better understands the current conditions of the market. If your home is not yet selling after some time, and you as the seller demands to see progress, an ideal listing agent will normally ask for offers, do a follow up on all of the interested parties informing them that the seller is willing to sell. In cases where the buyer understands that the home owner will entertain offers that are below the asking price, then it will be unnecessary to reduce the home’s price.

It is good to have a first-hand experience of how the market works. If you have your home listed at a considerably lower price than you may be comfortable with, there are high chances that you will get offers almost immediately. However, if you have it listed at a considerably higher price you will find that the market will clearly speak for itself and you are likely not to get any response after a long period of time. Since every scenario is unique, it is important to team up with an agent who is in agreement with your specific strategy and is able to help you to adapt to your specific market.

Have the inspection and disclosure upfront.

If you present disclosures upfront and also provide the buyers with recent inspection reports, they will gain more confidence in the home. You may choose to price your home at an amount that will cater for any additional work to be done, they buyers may become more confident and are likely to make an offer quicker.

However, if you attempt to hide certain details and the buyers find out later, the deal may fall apart and you may even face a lawsuit. It is therefore important to be honest during the process.

To ensure that you make a quicker sale of your home, list it at the right price, present it in the best lighting and ensure that you make potential buyers to feel comfortable with the different aspects of your home.

 

 

 

 

 

Americans are constantly moving and resettling and the final motivation is to find a home one can call their own. There are over 1 million housing units in the country and 65% of these are the primary homes of the people who live in there. Clearly, we are obsessed with the idea of owning homes, and that is a good thing. When you are a first time home buyer, you are always looking for breaks that can help you grab your first home with ease. You surf the internet looking for tips and you ask around. The big fear is that you may make the wrong move and torpedo your chances of settling.

In this piece, we look at some key considerations first timers need to factor in before going all out to make an offer for that dream house.

Have confidence when negotiating or making an offer

It is normal to feel out of depth when fixing to make an offer. However, you need to understand that you are like any other buyer. You have glossed over prices, pored over publications and talked to a very helpful real estate agent. You may not know it but at this point, you are a guru in the whole house buying business. There are no right and wrong prices. There is only logic, and by understanding that, you can make solid offers with little reluctance.

Look at price comparisons before you pull the trigger on the deal

Your agent is going to be very handy at this point. See, these professionals usually have lots of data upon which you can base an offer. The normal practice is to afford you a list of the deals that have taken place in your area of interest over the last 6 months. Pay special attention to the pending sales and ask your agent to find more information regarding the seller involved.

Keep digging for information

You need to understand where the seller is coming from with their pricing. For example, for how long has the house they are selling been on the market? Is it possible to glean some information on why they are selling? You also need to know if there are other buyers and what they are offering for the same house you have an eye on. The statistics your agent comes across will be instrumental in determining the offer you table.

Keep your lender in the loop

You will need your lender every step of the way. At some point, you are going to require a pre-approval letter and when you do, the lender needs to be ready. In addition to that, there is the question of mortgage rates, which are very volatile. Lenders are very good when it comes to sniffing out incentives in the market and are going to keep you updated on any shifts in prices and rates.

Remember to discuss the terms of sale

Admittedly, the price is the most important factor here. But you do not want to forget the nitty gritty. For example, what is the timeline for inspections? When these drag out, snags are going to arise and prevent an early close to the sale. Some people want to close fast and others want to wait for some time due to complications related to approvals and mortgages. At times, you are going to require time for loan contingencies and approvals.

Do not stick to your guns for no apparent reason. For example, if the seller wants to close within weeks and you can get it done without glitches on your side, then why not go for it? Remember, you are likely competing with other buyers, and they are looking to take advantage of any reluctance.

Stay positive

There are going to be other houses of the same pedigree as the one you have fallen in love for. You do not have to go all out for a deal where the terms are skewed towards the seller. People are going to want to sell houses every other day. Thousands of Americans relocate every day, opening up positions for you to take advantage of.

Buying a house can be a hectic process, even an intimidating one, but with the right information and a good real estate agent, you are going to get value for your money.

 

 

 

 

 

 

Property disputes have been around for ages and have at one time or another led to law suits that are contentious, unrelenting litigation and serious tensions between neighbors. As such, conflicts between neighbors have to date remained a common phenomenon.

Ways of preventing neighbor disputes

The best and easiest way to avoid a contentious legal battle is to avoid minor disputes between you and your neighbor. You will be shocked to realize that the nastiest legal battles between neighbors have been sparked off by very simple disputes such as those ones involving trees. People living in neighborhoods with trees are therefore advised to always negotiate the ownership of these natural features if they wish to avoid a future problem that might erupt from the same. If trees grow past the boundaries and the ownership of the trees is unknown, you should desist from trimming the tree as it might fall back into the restricted boundary since this is likely to cause a conflict as the incident may lead to the damage of property. Calling for a fresh property survey can help avert such situations even before they start.

Water disputes

Another time bomb that keeps ticking involves the ownership of water sources that fall on the boundaries of properties of two different individuals. A riparian attorney will come in handy when it comes to finding solutions in such situations, especially if the water source is used for livestock or domestic consumption.

Disputes on fencing

Disputes regarding boundary lines and fences are the most common amongst most neighbors. Such disputes can easily be solved by good communication amongst the two parties or through the assistance of a local surveyor. If there has been no prior issues with the homeowner`s association, the new home owner is at liberty to erect a fence as he or she sees fit.

A property owner should not just make an informed guess on legal boundary lines since the slightest misjudgment may cause the owner of the other property to incur any expenses that may arise from relocating the fence. Instead, they should hire a local surveyor to determine a specific boundary line. He or she will also leave a safe buffer zone between the boundary line and the fence that has been erected.

How to manage disputes

It is not every legal dispute that is of a contentious nature, some of these disputes call for legal transfer of property. Most families, for instance, usually use quitclaims to quickly pass over land from one generation to the next without calling for a surveyor`s services but should they need to transfer the same property to an outside buyer, they will be forced to contract a surveyor. It is here that a dispute may ensue instantly as the new survey might reveal that some of the boundaries have discrepancies. Such situations might need an experienced lawyer to negotiate for a new boundary line without the taking the matter to the court.

In case legal disputes between you and your neighbor are unavoidable, you should seek the help of state and local property law experts. Even if it is expensive, it is always good to seek the services of knowledgeable experts such as those familiar with tree law or riparian rights at the onset of a dispute to save any valuable property rights in future.

It is important to note most people tend to file a law suit or seek the help of tree consultants. Historically a good portion of the local court`s equity dockets have comprised of boundary line, nuisance and property disputes. Even the most benign disputes between adjacent neighbors and property owners can lead to conclusions that are very disastrous. It is therefore, important for property owners to always take heed and prepare adequately for the prevention of conflict before it even starts.

Some of the disputes that have gone into the books of history did not seem to be such grave at first but later on ended up being blown out of proportion with others ending up as class B felony such as the in Los Angele. Others ended up serving a lifetime jail term after being charged with manslaughter, which was the case in Orange County, CA, where a neighbor shot the other over fireworks dispute.

Moving into a new house is a major milestone in everyone’s life.In recent times, more and more savvy people are foregoing the full-service moving companies and embracing the do-it-yourself (DIY) moving attitude.DIY moving can save you a lot of money while letting you have control of the whole process.Moving can be a very painful and stressful experience especially when it is not well planned for.However, DIY moving can be very simple when well planned.You must start out on the right foot by having some essential supplies that will help you keep your sanity when packing and unpacking.Sure you will need boxes, but also take into account the following essentials so as to move like a pro.

1.Heavy-duty Boxes

As the day of moving gets nearer and nearer, you are probably dreading the task of purchasing the moving boxes.However, this can be a very easy task when you know which boxes are to be used to move your prized possessions safely.While most boxes may be fine, it is important that you invest in the best heavy-duty boxes.You may also need professional moving boxes that are specifically suited for a variety of households.Thes include the kitchen boxes, mirror and picture boxes and the wardrobe boxes.

2.Packing Tape

After purchasing the boxes, you will need lots of packing tape.You must use real packing tape and not the weak masking tape.Packing tapes that are sturdy enough can be very expensive, but remember cheap is always expensive.These packing tapes and tape dispensers can be ordered online or picked up at office supply and hardware stores.It is easier to tape up the boxes earlier than to do it at the last minute.Remember to buy the tape in bulk so as to get the best deal.

3.Moving Blankets

You must protect your most prized assets with high quality moving blankets.Moving blankets are used especially to protect furniture from getting damaged during the move.They ensure that your furniture don’t get any strains, tears or scratches.It is said that moving strikes fear in the hearts of the bravest of souls.However, the more moving blankets you have, the lesser the fear.

4.Floor and Carpet Protection

Although you are moving out of a house, you still need to protect the floors.This is even more important if you are moving during poor weather conditions like rain or snow.Carpet protectors are essential so as to ensure that the carpets are not damaged during the moving.At very affordable prices, you can purchase these protection films that stick to your carpet and protect them against spills, snow, and dirt.

5.Mattress Bags

Most people do not have the special canvas mattress bags or large cardboard mattress boxes to help in keeping the mattresses clean.In this case, affordable plastic mattress bags can easily be purchased in local storage and hardware stores.These bags will provide great rain and dust protection.Remember, never set the mattress on a wet surface even when a cover protects it.

6.Paper Towels

Vases, mugs, and other fragile equipment can be stuffed with paper towels so as to protect them.Paper towels can also be placed between the fragile utensils, appliances and cookware to prevent them from breaking.These towels can also be used in cleaning up the spills.

7.Bubble Wrap

Bubble wrap is a very important tool when packing fragile items.You only need to put layers of bubble wrap between each bowl.Use small bubbles for the more small and delicate appliances.Make sure that you place the heavier items at the bottom of the box.

8.Step Ladder

Step ladders come in different sizes; the most popular sizes that you may need during DIY moving are 4, 6, and 8 feet.Step ladders make it easier and safer to take boxes down or move them high up.Instead of trying to reach up and losing your balance, make sure you use a step ladder.

9.Dolly

A dolly is an essential tool when moving heavy items.A dolly is basically a platform with wheels, and there are different varieties.Some dollies are even designed to go upstairs.You can either build yourself a dolly, borrow, or purchase at your local store.Just make sure to check the dolly’s weight limit.

10.Box-cutter

A box-cutter can really come in handy when opening the strong seals.They reap off the seals and tapes cleanly without creating any mess.You can also use utility knives instead of the box-cutter.Remember to use brightly colored knives since they are easy to spot amidst any mess.

Whether you are newlyweds who are starting out, or a middle age couple downsizing you will most likely have to evaluate economics of buying a home vs renting. For many years, conventional wisdom ruled out that buying a home was the smarter choice. However, owning a home doesn’t somehow make it absolutely free to dwell in. For different individuals in different places, one approach may make more sense than the other. Nowadays more people are opting to rent instead of buying.

Truth be told, buying a home has a few hidden costs. It is ultimately more financially beneficial. But you need to know these 5 costs homeowners usually pay that renters do not.

1. Home Maintenance

Homeowners cannot just call a landlord when some things need fixing or repair. All kinds of repair, renovation and maintenance are the obligations of the homeowner. Whether you are planning on having a remodeling project or you simply want to do repairs, the costs will come out of your pocket. According to statistics, if your home is worth about $220,000, you need to set aside a minimum of about $2,200 for repairs and maintenance costs.

2. Property Taxes

The property taxes are basically paid to the local government, the municipal, state or county to fund things such as public school billboards, wages for the government workers or public works. Property taxes are typically an expense which homeowners should expect to pay as long as the home is in their ownership. Taxes are usually assessed based on current value of the home, and may change over time in order to reflect the home’s decrease or increase in value. The taxes may also vary depending on the region, thus you should always try to investigate the taxes in the area(s) you are looking to buy.

3. Home Insurance

Renters usually pay rental insurance, while homeowners pay homeowners insurance which is usually a bit more expensive. The rental insurance basically covers the contents insurance, but homeowners are more concerned with the actual value of the structure of the property. If a home gets lost in a natural disaster or a fire, insurance will cover remainder of the mortgage, or costs to repair or rebuild the home. Different insurance policies provide different levels of coverage and protection, and the premiums usually vary greatly. For instance, homeowner’s insurance can costs the average of about $35 monthly for every $100 000 of the home’s value.

4. Home Owners’ Association (HOA) Fees

Some developments may charge a condominium fee or Home Owners’ Association fee. The fees usually cover the external building maintenance along with landscaping costs for the common areas. This basically minimizes the costs of any other home expenses which are covered by HOA fee, though the fees will not cover internal maintenance costs that are associated with your particular unit. The HOA fees might not cover construction projects or maintenance if the HOA does not have sufficient money in it’s reserve to fully cover it. This might result in quite a hefty cost to the owner in terms of development. People who are in HOAs need to set aside some money to cover these unforeseen expenses that are associated with maintenance of the communal property.

5. Utilities, Landscaping and Lawn Care

When you are renting, it is common for your landlord to cover certain costs. However, if you are a homeowner, you are in charge of taking care of costs such as, water, gas, electric, cable, Internet among others. The cost of utilities when you are renting are quite different than the cost you will pay in case you are a homeowner. For instance, if your home got a yard, you’ll definitely need to factor in lawn care and landscaping costs. Paying a professional landscaping company to take care for the lawn can cost about $30 every week. If you decide to do the chore yourself, the costs will certainly be lower, but, you will still have to consider other expenses such as tools, maintenance equipment, and fertilizer.

What’s all this mean?

In the end, when all is said and done, your personality will drive your decision in terms of renting vs buying decisions. Financially, it usually makes more sense to buy a home. But take these 5 expenses into consideration before taking action.