Buying a home can be a nerve-racking time.  Especially in this tough economic climate.  There is a lot of stress associated with it and at the end of the day you hope you make the right decision.

There are some factors that play in the decision making.  How much you earn on a monthly basis, how much you have saved for your down deposit and closing costs, and your existing debt and credit worthiness.  This will help determine whether a bank or lender will be willing to lend you the remaining 80%.

The good news is that you are no longer giving your money away as rent.  Buying a home is an investment and one where you can walk away with a profit when you sell it.  But make sure you are going to live there for 3-4 years as the costs of buying and selling means that you could lose money if you move before then.  And if its under 2 years you will be liable for capital gains tax on any profit you make.  So consider how motivated you are to stay in the house – ask yourself whether  your job is settled or are you likely to be moved?

Prices vary across the country.  If in your area monthly rent costs are on average 35% lower than your anticipated monthly mortgage payment, then it makes sense to continue renting.  In this situation you would do better to wait until home prices come down, or rents increase.

If the time is right to buy then organize your finances.  Make sure your credit report is up to date and get errors removed.  Determine how much mortgage can I afford?  Use a mortgage calculator to figure this out.  Then get pre approved by a lender.  Save enough cash to pay for your down deposit and closing costs.  The deposit is usually 20% of the cost of the home – although this figure can be lower if you can get a government type of loan such as FHA or Fannie May.

Government Loans to Reduce You Deposit. is a post from: Five DC

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As a 20 something, you probably have a growing number of things that you are slowly beginning to check of your lifetime “to-do” list one by one. This is an exciting time, but it can be slightly nerve-racking financially as well. You are starting a new career, likely paying off student loan debt and now you are thinking of buying your first home. There is a lot to be excited about and as long as you do your research and find a house that fits your budget, this is one more item you can confidently check off your list, but before that can happen you need to take the time to be sure you are well informed of your choices. If you follow these tips, you may find that the whole process is a little less daunting.

First off, it’s time to face the cold hard facts. The days of 100% financing on a home that is guaranteed to double in value within five years are over, and by the looks of it, they are not coming back anytime soon. Financing is harder to come by and the market is over supplied with homes. Homes once upon a time sold easily in 90 days or less. But many who are trying to sell homes on the market today are finding that this is not the case anymore. The current state of the housing market has both benefits and drawbacks for first time home buyers like you. As long as you are aware of the current market situation and what it means before purchasing a new home this can actually work to your favor.

Tip #1: What you can get financing on is not the same as what you can afford.
The rule of thumb is that your total housing costs should not exceed 28% of your total monthly take home pay. This rule was routinely broken several years ago, and because of this many people have lost their homes. The economy is not great right now, and the prospect of getting laid off is very real. It is important that as a first time home buyer, you do not overextend your means. Do not buy a home on the anticipation that a raise is soon to come. You never know what may happen, but you don’t want to bet your house on it. To find out exactly what you can afford, you may want to use one of the many online mortgage calculators to see what your monthly payment would need to be in order to not drain all your income. Remember there will be certain unexpected costs that will come up, like repairs, additions, remodeling and of course home owner’s insurance, that you will want to have money put aside for. It’s easy to fall in love with a house and think “I’ll figure the payments out somehow,” so it is a good idea to figure out what you can actually afford before you even start looking around.

Tip #2:  Get pre-approved before shopping for your first home.
This will save both you and your agent time. By knowing what a bank is willing to loan you can limit your search to only properties you can receive financing for. This will also alert you to any problems that might come up. It is best to know about any credit problems early on in the process. This will allow you to address those problems while simultaneously looking for a new home. However, you really want to look around and not go with the very first loan you see. Of course, it may be easier to go with whatever your normal bank is, but be sure that you are getting the best loan for your money. Do not overlook the fine print. Be sure you know all the fees and penalties for late payments.

Tip #3 Make sure it’s a neighborhood you love.
It seems like common sense, but buy a home you love in an area you love! It is very likely that you will be in this home for at least five years. The days of buying and flipping are through. While a home is still an investment, it is not a short term investment. You should plan on living in your new home and not looking to trade up as soon as possible. Along these same lines, be prepared to check out many homes in the area you love. With the Internet at everyone’s fingertips, buying a home is much different than it once was in our parent’s generation. In the past you had to rely on an agent to show you properties or drive around looking for “for sale” signs. Now you can enter a simple search for your area and see hundreds of homes. Be selective, make a list of your favorites and then make calls to view the homes from there. Generally, if you are motivated it’s realistic to find your new home within as little as 2 weeks. Remember, yes you want to look around and be a smart shopper, but when you find that perfect home, be happy with it and stop looking. With so many listings in your reach, it’s easy to get caught up looking even after you’ve gotten settled. Look at it this way, if you met your soul mate on a dating sight, should you really still be looking to see what else is out there? Okay, it might be a bit of a stretch, but you get the general idea.

Tip #4: Once you’ve got it, insure it!
When you do take on a mortgage, it’s necessary for you to get home owners insurance. What you should do however is look for a policy that also covers contents insurance. This essentially covers all the “movable parts” of your home (think furniture, televisions, computers etc.). After taking on the added cost of a mortgage, the last thing you want to worry about is how to replace your belongings in case an emergency happens. You may at first glance write it off as unnecessary or costly, but in the long run, contents insurance can save you a lot of money.

The current market is not all bad. Because of the oversupply of homes on the market prices are falling. As a result, you can afford more house than you could have four years ago. This is an extremely exciting time in your life, do your research and jump in!

Tips For the First Time Home Buyer is a post from: Five DC

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The Christmas season is a magical time of the year for children and adults alike. Children love the association to Santa Claus and his elves and reindeer and adults rejoice in the celebration of Christ and family connections. These are central themes that are typically associated to the holiday and most homes have their own ritually oriented decoration process and style. Christmas yard decorations are a common way for family’s to display their celebration to the community, and every year homes across the country of an elaborate seasonal story right their in their own front yards. And the specific designs and themes can relate to the fun Santa Claus stories or nativity scene aspects.

Of course many homes make a combination of themes and turn their front yard into a complete wonderland. These elaborately designed and lit yards frequently become popular local tourist destinations and the homeowners open their yards and sometimes homes to visitors who enjoy the beautifully detailed decorations. From inflatable Santa and reindeer to barn with manager, holy family and wise men, the diversity of yard decoration options is as diverse as the families that house them. And many people take their home Christmas decoration design to the level of art and the great lighting options and incredible decorations help to achieve this.

Time to Decorate for Christmas is a post from: Five DC

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Feeling like your home is not just last year, but last century? Buying a new house and wondering how to decorate it? Redesigning a home’s interior — or designing from a blank slate — can be an overwhelming task. Luckily, it’s not as difficult as it seems. Experts at home design magazines and websites are filled with ideas and examples of design. Companies like Next Day Blinds Rockville also offer advice and tips to make your job easier.

One of the most important tips is not to get caught up in this year’s Big Thing . Fads come and go and it’s fads that are most likely to make your home seem outdated once the next big thing comes along. Choose a more classic look as the foundation for your design and then punch it up with small doses of the current fad. This way you can replace those items as trends change, but the overall effect of your design will remain timeless.

The best place to start is to look at your own personal style , or a blend of the styles of those family members who will be residing in the house. Choose colors, patterns, textures, and shapes that reflect that overall style and you’ll never feel uncomfortable in your own house. Once the main design is in place, be sure to add those personal touches — personal items that invoke memories and feelings that will make it feel like home.

Interior Design Advice from Next Day Blinds Rockville is a post from: Five DC

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Even a doctorate degree may not mean you know how to use measuring tape correctly, especially if you’ve never been trained in its use. For example, most people will be able to read one inch on a tape measure; the inches are clearly marked and divided with numbers, but between the inches, the hash marks may become increasingly difficult to decipher, particularly for the uninitiated. A carpenter will know, but beyond determining that the longest line in the middle of the inch is the half-inch mark, the layman may have trouble coming up with a precise measure. Aside from the marks that tell you the beginning of the inch and the end of the inch, there are fifteen additional lines or marks.

The longest of these fifteen lines is the half inch mark. The next two longest lines are the quarter inch and three quarter inch mark. After that, these lines become harder to interpret. Dividing half the distance between the beginning of the inch and the quarter inch mark will allow you to find the eighth inch mark. Halfway between the beginning of the inch and the eighth inch mark, you’ll find the shortest of the hash marks, which gives you the sixteenth inch. So, tape measures are divided by half inch, quarter inch, eighth inch and sixteenth inch measurements. These are not interchangeable measurements — in other words, the half inch mark is not read as two quarters, although technically that’s the case. Instead, the measurements should be read as follows for the first half inch: one sixteenth, one eighth, three sixteenths, one quarter, five sixteenths, three eighths, seven sixteenths, and one half inch. With this information, you should be able to easily find the measurements you need to find.

Reading Measuring Tape is a post from: Five DC

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Proper lighting for infant nurseries and children’s bedrooms can make all the difference in their ability to sleep well and potential for elongated sleep patterns . It can also affect the overall atmosphere of a room and contribute to sense of security and contentment in an infant or child, or adversely create a more harsh and uninviting feel to the room. And today’s household accessories market and children’s furnishing designs offer more possibilities for aesthetic appeal and comfort in lighting devices now than they have at any time in the past. Creating a nursery for your new baby is more exciting and fun than ever before and parents’ options for design themes are limitless.

Some of the popular kids lighting devices include accessory oriented nightlights and soft room lights that come in various shapes and figures. You can have a colorful clown that lights the room in a soft spectrum of color or a subtle teddy bear that gently warms the room atmosphere with a soft glow. There are numerous other devices that are available and some are intended to blend into the overall appearance of the room and others are designed to standout as a unique and appealing fixture. Some lighting elements emulate the calming flicker of candles and provide a pleasant glow to sooth children back to sleep if they wake during the night. There are so many options available that there is no reason or even excuse to settle for harsh and unappealing lighting in a nursery or children’s room. So have fun, design and let your baby enjoy.

Lighting Features for Childrens Rooms is a post from: Five DC

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Finding the perfect home to raise your family in is a big decision. There are a lot of factors to consider from the size to the location. The slump in the housing market has caused many to question whether it is an ideal time to buy or if they would be safer and better off renting . But with many pros and cons for each, it is not an easy decision.

Buying a home has long been considered part of the American dream . Something that many dream of for years. If you have the funds available, this could be the ideal time to buy but it is a big decision. Purchasing a home is a big financial responsibility. It involves saving a substantial down payment, getting approved by the loan office, and eventually signing a rather lengthy loan agreement. On the flip side, owning your home gives you a lot of freedom that renting doesn’t. You can paint and renovate any way that you want. Of course, if something breaks, like the Air Conditioning Unit, you are responsible for that too.

With many people losing their homes to foreclosure, renting a home is becoming increasingly popular. While the payments are can be as much as a house payment, the economic slump has caused them to come down considerably in price. This often a better alternative for families than apartments. There is usually a lot more space and a yard for kids to run and play. While you are limited to what you can do as far as painting and landscaping goes, landlords are usually pretty flexible; especially if you plan on living there for a while. The nice thing about renting is that if something does break or you have a problem with the plumbing, it is the landlord’s responsibility to get it fixed.

There are many pros and cons to both renting and buying. By considering all your options you will be sure to make the best decision for you and your family.

Buying or Renting a Home is a post from: Five DC

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Barbeque islands are a great choice when designing and outdoor kitchen area for your home. They are available in a diverse assortment of models and styles and can be as elaborate or simple as what your taste, resource and space allows for. In addition, the actual grill that is included can be as complex or simple as what one desires. The islands can comprise the bulk of the outdoor kitchen appliances or it can be a nice addition to an already existing area.

They are becoming extremely popular with smaller yards such as those found in townhouses and sometimes condos. Because they provide additional features such as counter or bar space as well as storage space and sometimes sinks, the island provides the complete outdoor experience yet does not need to take up a lot of room. Some of the features that are typically included have been mentioned though the models include ovens, food warmers, built in griddles and more. The list goes on and whatever is not included in the consumer choice model can usually be found as an optional feature or be purchased separately.

Some of the models include a canopy, which can add a bistro or sidewalk café quality to the cooking and dining experience. The diverse and continually growing additional feature and or accessory options include an outdoor blender, which is incredibly convenient for making smoothies or margaritas or other blended drinks and contributes to the meal as well as the fun of the experience. Paper towel holders are also extremely useful and convenient when using an outdoor kitchen. One of the fundamental though least glamorous features to these islands is a quality trash can. Whatever your personal budget and space allows for there is likely an outdoor island for you. Just bring the spices and food and guests and you are good to go.

Optional Features and Accessories For Barbeque Islands is a post from: Five DC

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