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Reconsider that fixer upper: Financing option makes home improvement more attainable

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(Family Features) For younger homeowners and first-time homebuyers in particular, money is likely to be tight. When most available cash is directed to the best possible down payment to secure a home in a desired neighborhood, there’s often little left for improvements.

According to a Profile of Buyers’ Home Feature Preference Report from the National Association of Realtors, 53% of homebuyers took on a home improvement project within three months of buying with kitchen projects being a priority for 47% of those surveyed. However, when buyers finance a home renovation into their mortgage application, they can broaden their options of available properties to include fixer-uppers that can be upgraded prior to move-in.

A finance option like the Guaranteed Rate Home Renovation Loan allows homebuyers to visualize the home they want versus the one that’s listed. By rolling renovation costs into their mortgage, buyers can enjoy a home tailored to their vision while paying a little extra each month for upgraded windows, siding, decks, kitchens, bathrooms or a walk-in closet. In many cases, the project can be completed after closing but prior to moving in with contractor commitments to stay within budget.

If cosmetic or structural improvements are needed when prospective homeowners find a property worth bidding on, they can work with a licensed loan officer to secure a home renovation loan. The borrower’s choice of contractor that meets the lender criteria submits an estimate that’s reviewed and validated by the lender. Once approved and the mortgage is closed, the renovation can begin with costs paid upfront, added to the loan and repaid as part of the mortgage.

Consider renovation projects like these:

Luxury Renovations are geared toward the enjoyment of a home. They might be as easy as updating an entertainment room or reworking existing landscaping or as complex as adding a swimming pool, hot tub, outdoor kitchen or fitness area.

Structural Renovations affect load-bearing elements like posts, beams or even the foundation or walls of the home. Some examples include adding a garage, raising a roof, converting rooms or adding square footage to the house.

Non-Structural Renovations do not affect load-bearing elements and are often more cosmetic, including remodeling kitchens or bathrooms, repainting, replacing siding and upgrading for accessibility.

Consider the out-of-pocket costs of similar non-structural renovation projects according to Remodeling Magazine’s 2023 Cost vs. Value Report when compared with the monthly price of financing via a Guaranteed Rate Home Renovation Loan based a sample mortgage payment of $2,525/month*.

  • Bathroom remodel: $24,606 out of pocket versus $127 per month financed
  • Hardwood flooring: $4,900 out of pocket versus $25 per month financed
  • Finished basement: $18,400 out of pocket versus $95 per month financed
  • Kitchen remodel: $77,939 out of pocket versus $402 per month financed
  • Solar panels: $20,000 out of pocket versus $103 per month financed

Find more solutions to make the home renovation process easier at Rate.com.

Photos courtesy of Getty Images

*Example portions of payments allocated to renovation costs are based on a purchase price of $388,800, down payment of 20%, 30-year [fixed] rate mortgage at a rate of 6.69%/7.364% annual percentage rate (APR) and 360 mortgage payments of $2,525. FICO score and lock days based on 740 FICO and 45-day lock. Advertised rates and APR effective as of 05/25/23 and are subject to change without notice.


SOURCE:
Guaranteed Rate

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Ready, set, spring: 5 early season yard tips

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(Feature Impact) As the days lengthen and warm air has you ready to get your patio furniture out of storage, that means it’s time to give your yard a fresh start. With a little planning now, you’ll be rewarded with a fuller, greener and easier-to-maintain outdoor space once spring is in full bloom.

1. Start With a Clean Slate
Winter leaves behind plenty of debris, including fallen branches and matted leaves. Before you start planting, take a walk around your yard and tidy up:

  • Rake moisture-trapping twigs and leaves that can cause fungus
  • Remove dead plants or spent annuals from flower beds
  • Sweep or power wash patios and walkways

2. Tune Up Tools
Digging into yard work only to find rusty shears or a squeaky mower can prolong the task. Instead, ensure your tools are in good working order:

  • Sharpen blades on lawn mowers, shears and pruners
  • Install fresh string on trimmers and weed eaters
  • Replace old fuel or clean air filters on gas-powered tools

3. Assess Your Lawn
Early spring is ideal for noticing how winter treated your grass. Dethatching and aeration can go a long way toward helping grass absorb nutrients. Set the stage for lush growth once warmer weather arrives by looking for:

  • Bare patches that need reseeding
  • Weeds making an early debut
  • Compacted soil where water pools instead of soaking in

4. Give Plants the Right Start
Now’s the time to prep beds for new life. Before you plant:

  • Loosen soil and mix in compost for nutrients
  • Add mulch around perennials
  • Plan your planting based on sun and shade patterns

5. Hydrate Wisely
Strong roots start with proper hydration. Even before sprigs pop up, early spring can be dry as the sun gets higher. Remember to:

  • Water flowerbeds if rainfall has been scarce
  • Check irrigation systems for damage
  • Mulch lightly after soil warms to lock in moisture

Getting your yard ready early in spring isn’t about perfection; it’s about setting yourself up for outdoor enjoyment all season long. Find more tips to get your yard in shape at eLivingtoday.com.

Photo courtesy of Shutterstock

    

SOURCE:

eLivingtoday.com

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Refresh your home: Spring cleaning checklist

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(Feature Impact) After months of winter, spring cleaning isn’t just about dusting and vacuuming – it’s about inviting sunlight and fresh air into your space through the open windows and giving yourself a fresh start for the longer days ahead.

It’s also a perfect opportunity to clear out the old and make room for new experiences, memories and energy. Whether you’re tackling deep cleaning for the first time or you have seasonal rituals for tidying up your home, this room-by-room guide can help you plan and conquer seasonal chores.

Whole Home:

  • Declutter spaces: Donate, recycle or discard what you don’t need
  • Wash windows inside and out
  • Dust baseboards, walls, vents and ceiling fans
  • Wipe down doors, knobs and light switches
  • Vacuum and clean under and behind furniture
  • Clean curtains and blinds
  • Store seasonal items like winter clothing and decor
  • Replace air filters
  • Shampoo carpet

Kitchen:

  • Empty and wipe down refrigerator and freezer
  • Clean oven, stovetop and microwave
  • Scrub countertops and backsplashes
  • Clean out the garbage disposal
  • Sweep and mop floors
  • Organize the pantry and throw away any expired items

Bathrooms:

  • Scrub grout and tile
  • Clean mirrors and glass surfaces
  • Deep clean toilets
  • Wipe down cabinets and bathroom fixtures
  • Wash rugs, floor mats and the shower curtain and liner
  • Empty trash and clean the bin

Bedrooms and Other Living Areas:

  • Wash bedding, pillows and linens
  • Organize closets and drawers
  • Vacuum chair, couches and mattresses as well as under cushions
  • Dust shelves and decor
  • Clean light fixtures and lampshades

Outdoor Areas:

  • Power wash patios, sidewalks and driveways
  • Wipe down outdoor furniture and replace textiles like pillows, cushions and umbrellas
  • Clear debris from garden beds
  • Prune shrubs, plants and trees
  • Organize garages and sheds
  • Reconnect hoses and sprinklers
  • Prep lawn equipment such as mowers, weed eaters and blowers

For more spring cleaning tips and tricks, visit eLivingtoday.com.

Photo courtesy of Shutterstock

    

SOURCE:

eLivingtoday.com

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Curating a memorable vacation for your family

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(Family Features) Travel has a way of slowing time down, creating memories for loved ones that last long after suitcases are unpacked and regular routines return. For many Americans, their most treasured family memories took place on a vacation or trip rather than at home.

In fact, nearly 67% said they value a core memory more than a physical souvenir after a vacation, according to a survey commissioned by Holland America Line, a cruise line that has been exploring Alaska for nearly 80 years. What’s more, almost 86% of survey respondents said they have looked at photos or videos from a past trip to lift their mood, and more than 90% said positive travel memories can improve their mood during difficult times.

With Alaska on the travel bucket list of more than two-thirds of Americans, it’s a destination that is influencing experience-focused family adventures.

Explore Curiosities
Travel is about more than seeing new places. For many Americans, it’s also a time to learn, explore new interests and slow down. Booking a cruise can encourage those behaviors.

According to the survey, 61% of Americans are more likely to try new foods while traveling on a cruise, and nearly half (48%) said they’ve discovered a new interest or hobby during their cruise, including wildlife, food, history or culture. For example, cruise guests may be able to try local specialties, like fresh Alaskan seafood, reindeer sausage, birch syrup and Alaskan berries, while on board.

Unstructured time is part of the appeal of cruises, with 28% of respondents sharing they read more during their trips.

Focus on Nature
Nature-focused destinations stand out because they offer experiences that feel rare and immersive, especially in places where wildlife and landscapes are central to the journey. More than 4 in 10 survey respondents said seeing wildlife in nature would be the most memorable family vacation experience, compared with about 12% who said meeting a character at a theme park would stand out most.

Whether spotting whales, watching glaciers calve or seeing the Northern Lights stretch across the Alaskan sky, the landscape being part of the experience helps define the journey. To help guests witness the majestic animals found in Alaska, including whales, eagles, bears, moose, otters, seals, sea lions and more, Holland America Line carries a wildlife expert on board. Plus, a wildlife spotting guide points out native animals found along the cruise route and a map with the best places to see each species is included.

“Guests tell us time and again how profoundly nature shapes the memories they carry home,” said Robert Morgenstern, senior vice president of Alaska Operations at Holland America Line. “Wildlife sightings, time outdoors and shared moments linger long after the cruise ends, especially for families exploring Alaska together.”

Reimagine Family Time
For families, travel often creates time for bonding that daily routines simply don’t allow. More than half of the survey respondents said their best family memories occurred while traveling together, and more than 4 out of 5 (82%) said some of their strongest family bonding moments happened during a vacation or family trip.

In addition to shared memories, more than 91% said travel had a positive impact on their mental and emotional well-being.

As travelers look for relief from routine and overstimulation, finding experiences rooted in nature, exploration and shared moments can help create lasting memories and emotional connection.

To learn more about Alaska travel and book your next family adventure, visit hollandamerica.com.

    

SOURCE:

Holland America Line

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