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SELLING
1.
When
selling your house,
Find out how much your house is worth at Domania,
Bank
of America, HomeGain
or  .
Price
the home right.
Negotiate
commissions with the broker (standard is 6%), especiallyfor more
expensive
homes. Negotiate commission after the offer comes in.
Pay the commission only when the deal is settled.
Find discount brokers at commissionrates.com.
Bid for realtors at Homegain.com
Get cash rebates through Ziprealty.com
Pay less when the agent brings in the buyer-to encourage
buyers represented by
others who may pay more.
Add variable commission so agent can get you a higher
price.
Keep the listing period short.
Have a real estate lawyer check out your sales contract.
Check the contract for any extra administrative fees.
Sell without a broker at owners.com,
forsalebyowner.com, craigslist.org or
fsbo.com
Spruce up the house and increase value through landscaping to
improve curb appeal.
Clear out all junk to make the house look more spacious.
Stage your home. Check out stagedhomes.com
Sweeten the deal by offering a home warranty.
Find buyers at Home swap sites: domuswap.com,
goswap.org
BUYING
1.
When buying a home,
Search for homes at
realtor.com,
homestore.com
Foreclosed homes at realtytrac.com,
foreclosurepoint.com
Check message boards at trulia.com
Negotiate a lower sales price by using a
buyer's broker, who works for you not the
seller.
When buying a new home, set a goal of getting the
lowest price with less focus on
freebies such as landscaping and upgraded kitchens.
Remember
to get a home inspection done by a professional such as
American
Society of Home Inspectors.
Also check home claim history in the CLUE report at choicetrust.com
Check the school district at schoolmatters.com
Find
out if you can afford the house at mortgage-calc.com
. Read more details on
mortgages below.
Compare renting versus buying at NYTimes.com
MORTGAGE
1.
Refinance
for a lower rate, cash out or for a peace of mind of a longer term loan.
Check out rates at MortgageMarvel.com
2.
Does it make sense to refinance? Calculate when monthly savings breakeven with
the closing costs. Do the math at Bankrate. No
cost No points loans are available
and may be
an attractive option.
Do you pay
points to lower your rate? Do the math at Financenter.
3. Ask lender about stream-lined refinance involving lower closing
costs and less
paperwork.
4. Compare rates at banks, mortgage brokers, internet for best deal.
5.
Play hardball on mortgage costs
Say no to application and rate lock fees
Negotiate origination, title, appraisal, document
preparation and processing fees.
6. Use Home
equity loans/Home Equity Line of credit (HELOC) to consolidate credit
card debt or use in place of auto loans. But
remember these
loans reduce equity,
so use with caution.
Do the math at BankRate.
7. Choose
loan type carefully depending on your needs.
Fixed rate mortgages are predictable but generally higher.
Adjustable rate mortgages are good if you plan to move in a few
years (3-5).
Interest only is riskier but for buyers who are confident
their incomes will
rise in the
coming years.
Non-conforming or Jumbo mortgages (more
than $417000) have higher rates.
Lower
total interest cost by opting for a shorter loan (e.g. 15-year vs. a 30-year).
8. Pay off mortgage early (extra amount of
one-twelfth of the monthly payment every
month, biweekly payments or 1 extra payment a year
cuts the 30 year loan
to 23
years). See
Morningstar
on how to aggressively
pay down the mortgage.
Check out the innovative Home Ownership
Accelerator program from CMG.
9.
Internet
sites: HSH, QuickenLoans,
HomeAdvisor, Eloan,
Lendingtree
Mortgage brokers: namb.org
10. Get rid of PMI when equity goes up more than 20% due to home appreciation or by
taking a
second mortgage (piggyback loan). Make sure interest on piggyback loan is
less than the PMI.
11. Improve your FICO score to get better
interest rates by:
Pay bills on time
Correct mistakes in the credit report
Pay off debt and not move it around
Reduce your credit card balance
Increase your balance to credit limit
ratio by not closing loans that
are paid off.
Purchase all 3 credit reports with
FICO scores from Myfico.
Get a free credit report at Annualcreditreport.com
12.
Check out financing options available from the Federal Housing
Administration
(FHA)
13.
Prepare for the worst-case scenario by taking out a mortgage based on only
one
income even if both spouses work.
HOME IMPROVEMENT/SECURITY
1. Do it yourself at
Doityourself,
BobVila
or
Repairclinic.
Check
renovations at Letsrenovate.com
and ones that pay at Bankrate.com.
2. Select
well established and licensed contractors-recommended by friends and
neighbors. Don’t assume that a licensed
contractor is good at his job. Do not pay in
full before satisfactory completion of work. Make sure that the contractor uses
materials covered by warranties. Check references.
Check if the business card has a
physical address.
3. Get several written estimates that spell out the details.
4.
Check
out ADT’s Basic Safe-Watch EZ system for home security.
HOME MAINTENANCE
1. Money
and
Bob Villa
give
a list of things to do to keep your home in top condition.
Keep a "sinking fund" to budget for home
maintenance, see askthebuilder.com
Inspect your house every 5 years or so. Do
the preventive fixes like sealing the deck,
trimming trees near the house,
caulking, painting exposed wood, cleaning gutters and
dryer vents.
2.
Rent tools instead of buying them (Home depot, ararental.org)
HOME
INSURANCE/PROPERTY TAX
1.
Contest a
property tax valuation if you feel it is too high.
Compare sale prices with homes in your
neighborhood at domania.com.
Compare neighborhood homes using information from
assessor's
office/website.
Calculate dollars per sq ft. by dividing the sale price of
the home by its area in sq. ft.
2.
Insurance: Lower premiums for higher
deductible, better credit, new
home, new
utilities, auto insured too, continuous coverage, older home owner, central
alarm, fire
alarm.
Review policy for replacement coverage. Add low-cost
riders to protect fine art and
jewelry. Determine insurance coverage needed at Insurance
Info Institute or
Accucoverage. Compare premiums at
Insweb. Check
agents at iiaa.org. Flood
insurance info at floodsmart.gov
UTILITY BILLS
1. Find
ways to save energy at Home
Energy Saver
and ASE websites.
2. Conduct
a home energy audit to identify ways to save energy.
Find one at
natresnet.org
or bpi.org.
Or buy a thermal heat detector.
3. Enrol
in load management/off-hour rate programs.
Take
advantage of Utilities deregulation.
Shop for Heating oil at websites like Priceenergy.com
4. Use a newer energy-efficient furnace and air conditioner.
Properly size the furnace and air
conditioner for your home.
5. Change your filters to enhance the efficiency of your HVAC system.
Perform regular
maintenance.
6.
Switch to ENERGY STAR (energystar.gov)
qualified
light bulbs, ceiling fan, appliances,
thermostat,
windows, doors. See yellow comparison sticker before buying.
Use
Compact Fluorescent lights (CFL's) that use
75% less energy.
7. Install a programmable thermostat to regulate temperatures when you are not at
home or at night.
8. Install a dimmer to control wattage and set the mood.
Turn off
lights, TV etc. when not in use. Install occupancy sensors.
Home
entertainment and some electronic devices use energy even when they are
not
in use- make sure to unplug them on your next vacation. Use a Smart Strip
Power strip.
Turn computer to sleep
mode if not used for short durations and shut down for
longer periods. Shut
bath/kitchen vents after use.
9.
Add insulation to your attic (make sure you have adequate ventilation) and
basement. Check proper
R-Value of Insulation at the DOE
website.
10. Seal
around power outlets, dryer vents, attic doors and hatches and pipes that
connect to the house from
outside. Fix leaks on ductwork.
Seal
or replace cracked
and peeling
caulk around windows, doors and siding. Install weather stripping
around
doors and windows.
Insulate hot water pipes.
31.
Water heater: Wrap your water heater in an insulation jacket.
Flush the sediment. Lower the setting on
your water heater. Use a
newer energy-efficient water heater.
32.
Washer/Dryer:
Wash clothes in warm or cold water. Wash and dry full loads as
much as possible.
Select the appropriate water-level setting. Permanent press uses
more water than regular setting. Do not mix
heavier-weight laundry
such as towels
with lighter-weight fabrics. Don't overload the dryer - clothes need room to tumble
and dry properly.
Don't over-dry clothes. Clean
the dryer lint trap after each
load. Do
not
skip the cool-down cycle in the dryer which uses residual heat to dry
the clothes. Dry laundry in
back-to-back loads if possible. Check the dryer vent
periodically for blockage. Hang
clothes to dry.
33. Refrigerators:
Get a energy star refrigerator.
Top freezer models use less energy than side-by-side models.
Automatic ice-maker and
through-the-door dispensers consume more energy.
Keep the condenser/coils
area clean for efficient operation.
34.
Dishwasher: Run your dishwasher with a full load. Use the washer's air-dry
option
to save on energy.
35.
During
winter, close chimney flues and seal unused fireplaces.
Remove or cover window air conditioning units during
winter. Use plastic window
film on the interior of windows. Keep
drapes open during the day to capture solar
energy. Reverse ceiling fan.
Turn down heating to lowest comfortable level.
36.
During summer do not open and close the windows each day while you are running
your air conditioner.
Reverse ceiling fan. Install
a whole house attic fan. Shut off air
conditioning to unused rooms. Turn up the air
conditioning to highest
comfortable
level.
37.
Repair
leaking faucets, install low-flow showerheads, take showers instead of baths
– save both water and
energy.
Turn water off while you brush your teeth, shave and
soap up. Set the lawn mover to a
3-inch setting that requires less watering. Wash
the car at a car wash instead of at
home for water savings. Get a Watersense
toilet and faucet.
38.
When the weather is good, open the windows, get fresh air and save.
39.
Check out dulley.com for specific
products and ideas on saving energy.
RENTALS
1. Shop
at Rent.com, MyNewPlace.com
and ApartmentGuide.com.
Look for deals like 2 months free.
2. Check lease
details carefully.
Negotiate
when landlord keeps a chunk of the security deposit when you vacate.
3. Check
out vacation rentals at CyberRentals.
4. Compare
Renting vs. Buying your own home at Quicken
and NY
Times.
FURNITURE
1. highbrowfurniture.com
2.
furniture-Zoo.com
3.
Buy direct from the manufacturer.
See them at HighPointChamber.org
(then furniture, furniture shopping)
GROCERIES
1. Check
out your local farmer’s market.
2. Stock up
non-perishables like pasta (buy on sale, not when they run out).
Buy them in larger packs
at warehouse clubs such as Costco.
3. Check
grocery receipts for overcharge.
4. Compare
Generic with Store brands.
5. Use
online grocers like Peapod.com
or Freshdirect.com to order
from a list and
avoid buying more than needed and
having food go to waste.
6. Use the Grocery
savings card to get discounts.
7. Use
manufacturer coupons.
Check Weekly
sale, 3 day Specials. Take
advantage of Double coupons, Triple
coupons promotions, Double coupon up to $1.
Combine sale price and coupon
savings for maximum savings. Use two
coupons for buy 1 get 1 free items (check
store policy)
8. Save
by not having shortcut food packages such as precut washed lettuce on your
grocery list.
9. Shop around. Convenience stores often have the highest prices.
Compare prices at
local stores at groceryguide.com
10.
Watch
out for the expiration date on perishable goods, especially milk.
11. Organic Produce costs more. Save by buying organic for the
"dirtiest" vegetables
and conventional for the "clean"
ones. See list at Foodnews.org.
12.
Save on bottled water by buying a faucet filter.
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