How to Get the Highest Return on Investment on Your Home Remodel

Remodeling your home is a smart move if you want to ensure a higher resale price. So many of the benefits of owning a home come when it's time to leave it; the financial gain and equity that you can build in a home can add a ton of value to your financial portfolio. 

If you have recognized that your house is going to need a bit of work before it heads to the market, it's time to start remodeling. If you're like many people, you might be questioning how you can make sure that you don't waste your money when it comes to the remodeling process. 

Don't worry -- here's a handful of our best tips for getting a great return on investment in your home remodel.

Take care of the big issues first

Structural and functional issues with your home will make it instantly unattractive to potential buyers. Bite the bullet and get the large and expensive projects out of the way. If your roof is damaged or leaky, hire a roofer. You don't want to risk trying to tackle projects that you are unfamiliar with on your own and risk damaging your house further.

Focus on aesthetics

Beyond the functional issues that need to be taken care of, the next area of focus should be how your home looks. Some projects are of course more time consuming and expensive than others. One of the least expensive and most beneficial projects that you can tackle is landscaping. 



Trimming overgrown shrubs and maintaining a neat and orderly lawn can add major curb appeal to your home. Your home's exterior is its first impression, so make sure that you spend some time improving it.

Replace the siding

Replacing siding is relatively cheap and easy and adds a ton of quick value to your home. Don't want to replace it altogether? Spend an afternoon power washing. This will make it look brand new without the need to reach for your tool belt.

Add outdoor elements

Adding a deck can make your home instantly more appealing to potential buyers. While it's certainly more expensive than other projects on the list, it's fairly reasonable when you consider the massive value that it can add to your home. Most buyers are eager to have an outdoor space to entertain.

Minor Kitchen Upgrades

Even just replacing cabinet doors and fixtures can drastically change the look and feel of your kitchen. You don’t have to spend a lot to get kitchen cabinets that will increase your home’s value and the quality of your kitchen.

Make the most of your remodel projects, and follow the above tips for getting the highest return on your investments.

What You Need to Know About Getting a USDA Loan

A home is the average family’s most expensive investment. Saving for a down payment can be difficult in today’s economy, but there are programs that can help you acquire your home with only a minimal amount. The USDA loan program was initiated to help individuals and families in some suburban and rural areas afford their own homes.

What Is a USDA Home Loan?

A USDA loan is issued to eligible individuals who want to purchase or improve a home in a designated area. These loans are guaranteed by the U.S. government, which allows individuals to purchase a home without the need for a large down payment. USDA loans can also be used to renovate homes in these areas. Mortgage funds can be acquired in the form of loans or grants, to a designated level.

Benefits of USDA Home Loans

One of the greatest benefits of a USDA home loan is that you don’t have to accumulate a large amount of money for a down payment. Another benefit is that you can acquire a loan if you have a credit rating of 640, which is generally below the rating needed for a conventional loan. In addition, the interest rate you will pay for your USDA loan will be much lower than a conventional mortgage, which makes it easier to afford.

Eligibility For An USDA Home Loan

To be eligible for a USDA Home Loan, you must fulfill certain requirements:

• You must be a U.S. citizen or permanent resident.
• You must have dependable income for at least the past 24 months.
• You must have an acceptable credit history, with no collections actions for the past 12 months.
• The monthly payment for the loan must not exceed 29 percent of your monthly income, including the principal, interest, insurance and taxes. In addition, other debts should not be more than 41 percent of your income.
• The property must be used as a primary residence.

Documents Requirements For USDA Loans

You will need to have proof of citizenship or permanent residency. You should also have at least two years of pay stubs or your tax returns. Papers regarding other debt obligations will also be needed. Your credit report and alternative records of credit, such as rental records or utility bills will be needed to establish your ability to repay the loan.

If you are interested in buying a home, a number of mortgage options are available. Some options are designed to promote homeownership in special areas or for particular groups. The USDA loan offers many benefits for individuals who are interested in living in rural areas of the country.

4 Emergencies to Budget for with Your Family

An emergency can happen to any family at any time. Some family emergencies can be expensive to manage, and you can prevent a lot of stress and financial trouble if you are able to budget ahead and establish an emergency fund. 

Here are four types of emergencies to budget for with your family.

Loss of Job

Loss of a job is a big financial emergency. The COVID-19 pandemic has resulted in more than 22 million Americans losing their jobs as of April 2020. Unemployment takes a while to kick in, and not everyone qualifies for this compensation. Consider having six months' worth of living expenses saved in case of a job loss.

Car Breakdown or Accident

Most people need a car to get to work. If your car breaks down, not only could you find yourself out of a job, but you also have to come up with the money to arrange for an unexpected car repair. According to Legacy Auto, a provider of car repair services in Boulder, CO, it is a good idea to have a maintenance and repairs fund for your car. 



As cars get older, they are more likely to need pricey repairs, such as new brakes. If you are in a car accident, you could also be subject to a deductible before your coverage kicks in. Consider budgeting so that you have at least the amount of your deductible available for a car emergency.

Medical Emergency

Medical emergencies are one of the most common reasons why people go into debt. Many people have high-deductible insurance plans that only kick in when they reach a large out-of-pocket threshold, such as $10,000 or even more. Even if you do not have a high-deductible plan, a medical emergency can still be catastrophic to your finances. 

If possible, the budget for your out-of-pocket maximum expenses. You could have this money in a tax-free FSA or HSA. Some of these plans allow you to roll over the funds you do not use in a given calendar year.

Major Household Repairs

Major household repairs can take a big bite out of your bank account. If your furnace or heat pump suddenly fails, you could be looking at a $3,000 to $6,000 replacement cost. A sewer line failure or burst water pipe could cost thousands of dollars to repair. 

A sudden crack in your home's foundation might necessitate extensive repair work costing tens of thousands of dollars. Masonry and electrical repairs are also essential and expensive. If your home needs a new roof, you could be looking at a $5,000 or more expensive. 



A failure of your refrigerator or oven could also be pricey to handle. Several websites list the average lifespan of different parts of your home and home appliances, and you can use that information to plan when they will need to be replaced. 

Some emergencies might be partly covered by your homeowner's insurance, such as a hailstorm that damages your roof. However, you will need to have the cash on hand for the deductible. Insurance companies also factor depreciation when compensating you for covered losses.

Other Minor Emergencies to Consider

Above are four major emergencies that you should budget for as a family. However, a series of minor emergencies could also have a considerable impact on your budget, explains U.S. News and World Report. 

If you had to take an emergency trip out-of-town for a funeral, travel, and lodging could be pricey. A sudden move can also be expensive. Perhaps your landlord decided to sell the house you're renting, or maybe your job decided to relocate you to another city. Maybe you have to take in a niece or nephew, grandchild, or parent. 

The cost of living increases can also impact your finances, especially if your health insurance or car insurance premiums, rent, or utility costs go up without a corresponding increase in your paycheck. You also need to have a budget and plan in place for these situations.

These are not the only emergencies that could impact your household, but they are common. It is wise to expect the unexpected and have a plan in place for anything that might happen. Planning and budgeting give you some peace of mind that you can weather an emergency without having to go into a lot of debt.

Avoid Higher Costs in Winter by Fixing These 4 Things in Your Home Now

Right now, it’s hard to think about frost on the windows and snow on the ground. However, if you take care of your winterizing during the summer months, you’ll be ready to go by the time fall rolls around. 

If you’ve been thinking about prepping your home for the coming cold season, here are four things you can do right now. They’ll make your home better able to retain heat and save you money on energy bills in the process.

Change Your Fans’ Direction

Most people don’t think about using their fans during the cooler months. However, if you change the direction of your fan so that it goes in a clockwise motion the hot air that naturally rises to the ceiling gets pushed back down into the room, allowing you to keep more warmth in a room. This saves you money in the long run.

Get the Furnace Looked At

You’ll run your furnace a lot once the fall and winter months roll around. In light of the fact that this unit will have sat around idle for months, you’ll want to contact a competent furnace repair contractor. 

This professional should check and change the filters, look at the pilot light, give it a cleaning and do a general checkup of the unit. Doing this keeps your furnace in good working order and keeps your home safer, too.

Have the Fireplace Cleaned

Your fireplace makes your home feel warm and toasty during the winter. However, an uncleaned fireplace is a fire hazard. During the year, debris and soot built up in the fireplace’s chimney system. 

Have a professional look at your fireplace before lighting up to make sure everything is clean and ready to go. A clean fireplace also works better, allowing you to keep your home warmer for less money.

Add Weatherstrip Tape to Windows

Weatherstrip tape keeps the cool air from seeping into the cracks of your windows. It’s also inexpensive and easy to install. However, despite its simplicity, it’s an effective way to save on your energy bills, so don’t skip this step. Just add strips of this tape to the seals of your window before the cold sets in.

If you’re like most people, you probably aren’t too keen on doing a winterizing project while the sun is shining hot. However, taking care of your winterizing projects before the cold season arrives means you’ll begin the season in tip-top shape. Finally, because you’re having these repairs done during the off-season, it’s likely that you’ll save money when you hire service professionals, like your furnace repair or chimney cleaner, too.