Many folks want live near downtown in older areas, which is great, BUT utility bills go UP. The average heating bill for an old house downtown could be $250, compared with $50 for an Energy Star home. GREEN mortgages can enable you to buy downtown. These mortgages save energy and money. A household monthly income of $5,000 can afford a $227,300 mortgage at 6.25% interest according to the Federal Citizen Information Center. With these energy-efficient mortgages the same household may qualify for a loan about $16,000 LARGER because its utility bills be lower. CHECK INTO THIS NOW.
TRENDS IN TEXAS THAT YOU MAY RECOUP LESS. (1) SUNROOM ADDITIONS – in parts of state recoup 51.8%, but as little as 29.3%. (2) HOME OFFICE REMODELS closely followed sunroom additions from maximum of 62.2% and as little as 47.2 of the total project cost. (2) MASTER SUITE ADDITIONS – either typical or upscale are not profitable. (4) UPSCALE PROJECTS – ranked in bottom 5 to recoup cost, except in Houston.
CURB APPEAL IS KING! Not only the door, garage door and siding + stone veneer accents give a 123.7% return on investment. Window and roof replacement are high on the list to recoup costs. Wooden deck in most TX areas because of climate can recoup 116% of the total project cost and back-up power generators can get a 129.2% replacement value, particularly in areas where power goes off frequently. MORE COMING IN A FEW DAYS.
If planning to sell, a new steel entry door is the best investment to up the price. Average cost is $1,230 and a steel door adds $1,252 to resale value or a 102% increase. STONE VENEER FACADE will add a 92% return. This is from REMODELING magazines’s “2015 Cost vs. Value Report” with data from 6,500 real estate agents nationwide. Will continue with PART 2 NEXT BLOG.
Stop making your landlord rich! Most renters don’t know how easy it is to purchase a new home. With interest rates at historic lows, your mortgage could be equal to or less than paying rent. Home ownership makes you part of a community or just build wealth over time. If you pay $1,000 per month in rent in 10 years your rent payments are $120,000, at 20 years $240,000 and 30 years at $360,000 and the RENT MAY HAVE GONE UP. A competent lender can help you get that LOAN TO BUY.
Volunteers are needed for the nation’s biggest all-volunteer coastal clean SATURDAY, APRIL 18. Adopt-A-Beach Spring Cleanup will take place at 30 of Texas’ most popular tourist beaches. Begins at 8:30 a.m. and come rain or shine. Volunteers will be given data cards, gloves, pencils & trash bags. Advised to wear closed-toe shoes & bring sunscreen & plenty of drinking water. Those unable to participate may contribute to the cause by making a tax-deductible donation online. From Austin’s Texas General Land Office. SEE YOU THERE!