Preferred Properties of Texas

The Preferred way to buy & sell property for over 25 years

Ways Your Bathroom Can Affect The Value Of Your Home

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Most real estate professionals agree that a home’s kitchen and bathroom are a couple of the biggest selling points for homebuyers. But even if you’re not planning to sell your home in the not too distant future, you ought to want your bathroom to be as cozy and adapting as possible as most men and women spend substantial time in that room every day.

To add value to Your Home, here are several updates to consider:

Shower, Tub, Sink and Toilet. Have a professional check your bathroom plumbing to ensure it remains in good condition. Fix any leaks from the water lines and remove evidence of mold or mildew. Repair a leaking faucet and replace worn or rusty hardware on your shower, sink or tub. Furthermore, remove hard water stains from the toilet bowl or grunge round the base. You may choose to repair or replace fittings that seem dated or that show wear, such as a chipped bathtub finish or cracked countertops.

Lighting. Outdated lighting fixtures can make a room seem stylish and boring. If the electrical isn’t up to code, that issue should be managed immediately to guarantee safety when using bathroom appliances like a blow dryer or electric shaver. Install recessed lighting or wall sconces to coordinate with the remainder of your home decor.

Flooring. A bathroom floor that is cracked or showing signs of age can be replaced easily by using newer water-resistant flooring tile or linoleum. Choose a style that meshes with your toilet’s colour scheme and blends with the remainder of your home. New flooring can quickly brighten up a bathroom to make it feel much more welcoming and upgraded.

Decor. You may want to add or paint wallpaper to just one wall to deliver some character to your bathroom. Add a few plants that will flourish on the moisture and help reduce the danger of mold. A wall shelf for decorative vases, linens or blossoms adds storage to make the toilet more operational. Furthermore, hang framed wall art to decide on a themed shower curtain as focal points of interest.

It will not need much time or money to get your bathroom in prime condition. You can continue to enjoy it forever or be assured that if you choose to sell your home, the updated bathroom could just help close a sale.

Looking At New Homes

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Looking at a New Home We frequently get ahead of ourselves when looking at a new residence, and if it is beautiful, has sufficient bedrooms and the price is correct, we wish to put pen to paper and make it our own. Rushing into such an important decision and neglecting to be comprehensive can be disastrous, though.

Look closely at how the seller has kept the home and determine whether any issues are problems you’re inclined to accept on. Also get a disclosure statement of any existing issues of which you may not be aware. If you want to obtain the house, stipulate in the contract that the problems be rectified or agree to repair it to get a reduction in the price.

Think about your family’s requirements and how the house may do the job for you. Open stairs into a basement might be impractical when you have toddlers, while a loft bedroom might be a fantastic thing if you have a musical adolescent. You want a space which is reasonable for your family as well as your possessions.

If you would like to get a vegetable garden, a house on a golf course might not match you, but a country cabin will.

Have a tour of this elongated neighborhood. How long will it take you to get into a grocery store or pharmacy? Are there restaurants nearby? Are you currently in a food delivery region? What is the traffic like at different times?

If you have children, research the colleges, child care and recreation opportunities in the area and also think about the protection of the area — both traffic safety and crime.

Preferred Properties of Texas  can help you start the process of honestly evaluating the property to make the best decision for your new home and for your family.

Contact us today to learn more about available homes and property in the Stephenville, Erath County and surrounding area.

For all of Stephenville’s new listings text HOMES to 1-877-965-7775

Expensive Mistakes Your Making on Your Home

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Homes cost a lot of money to maintain. But are you spending extra money unnecessarily on upkeep?

Traditional Light Bulbs. If you still have incandescent light bulbs in your home, you could be throwing a lot of money away every month on inflated electric bills. Over its life span, an incandescent bulb can use $180 worth of electricity. A CFL will only use $41 worth of electricity over the same time period. Even better is the LED bulb, which only uses $30 per bulb.

Leaky Faucet. A leaky faucet can waste more than 3,000 gallons per year, which is enough water to take more than 180 showers. Some of us live in areas where water is plentiful, but for those of us in areas plagued with drought, this could be costing you a fortune. Fix or replace your leaky faucet and save a ton on your water bill.

Air Filters. We all sometimes forget to change out the air filters for our HVAC systems or accidentally buy the wrong size. But using the wrong filter or a dirty filter can increase your power bill and cause expensive problems for your furnace down the road. Use the correct filters for your system, and set a reminder to change them after the recommended amount of time. You won’t regret it.

Customizing Temperature. Invest in a customizable thermostat. If you’re away at the office all day, you can program your heater to shift down a few degrees while you’re gone and then shift back up shortly before you return home. Heating or cooling an empty home wastes a lot of money in energy costs.

Air Vents. Is one room in your home hot, while the others are cold? Oftentimes homeowners will crank up the air conditioning in the whole house to combat hot temperatures in one area. Instead, adjust air vents to direct the flow of air more evenly throughout your entire home. Professionals will come regulate this to ensure that your entire home is receiving the same amount of air conditioning or heating.

Over Watering Lawn. Many homeowners have their sprinkler systems programmed to come on in the early morning hours for optimum lawn health. This can become a problem, however, if you’re never around to see what you’re actually watering. A broken sprinkler head could be causing a fountain, or the trajectory of your sprinkler may be directed at a fence instead of your lawn. Periodically run your sprinklers during the day so you can see how they are performing when you’re not around.

Water Heater Temperature. Unless you have a tankless water heater, your water heater is keeping the water in its tank hot 24/7. If you don’t keep an eye on the temperature as each season changes, you may be paying too much to heat your water. Decrease the temperature in the summer, and bump it back up when winter comes.

Leaky Windows and Doors. Leaky windows and doors are great places for cold, winter winds to enter your home. Many homeowners simply ignore them and crank up their heaters. Caulk leaky windows and put rubber seal around doors to keep winter winds out and warmth in.

Handyman. Don’t pay a handyman for a job that is simple enough to do yourself. If you’re unsure of how to do something, look up video tutorials online. Doing simple tasks yourself can save you a lot of money.

Curled Shingles. If you see any possible issues with your roof, repair them as soon as possible, as this will save you significant costs later. Don’t ignore problems on your roof!

Looking For A New Home?

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If you looking for a new HOME in one of Stephenville’s residential neighborhoods, or a home with a small acreage, farm, or ranch, then helping you find that “JUST RIGHT” home is our primary concern.

List your home with Preferred Properties of Texas or let us assist you with the purchase of your new home.

Choosing the Best Sink Type for Your Kitchen

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1. Apron-Front or Farmhouse-Style

Apron-front sinks, also referred to as farmhouse sinks, possess a wide, exposed front border and are usually quite wide and heavy.
The dimensions and contour were released to accommodate larger items, and the sinks were quickly put to use to wash everything from household items to clothes and even kids. They have evolved throughout the years to become one of the most popular styles of kitchen sinks.

While these sinks were traditionally single-bowl, they now come in divided two-bowl configurations. They are also offered in a wide array of materials, such as fire clay, cast iron, stainless steel, natural stone, manufactured solid surfaces and copper.

These are absolutely appealing countertops, but there are a few issues to keep in mind if you are considering installing one in your kitchen. Apron-front sinks are generally wider, deeper and thicker than other sink kinds, so that they might need at least a 36-inch-wide sink cabinet. The sink cupboard also must have the ability to accommodate the apron front.

If you go for a stainless steel or aluminum version, be aware that the apron can get scratched from contact with belt buckles or metal buttons. And, unless you choose an undermount installation (using the counter extending across the sink edge), there will be a seam between the countertop and sink in which moisture and gunk could collect.

2. Undermount

Undermount sinks become connected to the bottom of the countertop to get a smooth appearance and an easy-to-clean layout. Undermount and apron-front sinks frequently need professional installation and may only be mounted into a hardy and nonporous counter material, which may add significant cost to the job. Installation is more costly than to get a drop-in sink, since the countertop opening needs to be trimmed precisely. Many laminate countertop makers also claim you could undermount a sink for their own material.

Depending upon your individual undermount sink, you might have some choices regarding the show — just how little or much of the high border of the sink is visible just beneath the inner edge of the countertop.

A favorable show leaves a little section of the sink border exposed. This is the simplest form of installation, since the cutout does not need to be as exact as it does to get a zero show. Additionally, it lets you keep your eye on the condition of the sealant between the sink and countertop and much more easily reapply it later on as needed. The drawback of a favorable reveal is the exposed edge tends to accumulate gunk and dirt.
Having a negative show, the countertop goes slightly past the edge of the sink, providing the cleanest look. But that overhanging countertop may capture things because you lift them from this sink, causing breakage or chips to both the counter and items.

A fantastic hybridvehicle, then, is your flush or zero show. This countertop is cut into the specific size of the sink, thus there’s absolutely no place for food and water to accumulate and no lip which can lead to damage or becoming ruined. This may be a more expensive setup, though, since the countertop opening needs to be trimmed precisely.

3. Drop-In

Drop-in sinks have been installed in addition to or above the countertop.

That is a favorite sink design for people on a strict budget, for individuals installing a sink inside a porous countertop material (for example, laminate or wood ) or for individuals seeking to repurpose a classic sink or receive a classic appearance.

As stated, drop-in sinks have been set up by”falling” the sink right into a cutout from the countertop material then sealing around the edges at which the sink meets the countertop. The obvious disadvantage to a drop-in sink is the lip makes it increasingly challenging to wash food particles directly into the sink, since possible with the undermount sink.

Whereas undermount sinks have a clean, minimalist texture, paned countertops — particularly classic or vintage-look countertops — may bring a magical appeal to your kitchen, making a wonderful focus.

4. Integral

These sinks have no nooks or crannies for food particles to collect in, making cleanup a breeze.
Integral sinks are generally the most expensive type due to the cost of the raw material and fabrication — these sinks are usually custom-designed and custom-manufactured — in addition to the cost of installation. But for those with the budget for it, it’s certainly an appealing option.

1031 Exchange 7 Rules

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There are 7 main 1031 Exchange rules.

To qualify as a 1031 exchange, the land being sold along with the land being acquired needs to be”like-kind.”

Buy land with 1031 exchange

Like-Kind Property Definition: Like-Kind property is a really wide term that means both the initial and replacement properties must be of”exactly the exact same character or character, even when they differ in grade or quality.” (4) Quite simply, you can not exchange farming gear to get an apartment building, since they’re not the exact same asset. Concerning property, you can swap just about any sort of property, so long as it is not private property.

For instance:
Exchanging an apartment building to get a duplex could be let.
Exchanging a yearlong rental home for a commercial office building could be let
Exchanging a rental home or holiday rental for a restaurant area could be permitted.
EXCEPTION: It is important to be aware that the initial and replacement home must be inside the U.S. to be eligible under section 1031.

**Another interesting fact: Starker Exchanges can comprise two or more properties. By way of instance, you can exchange 1 property for several replacement properties and vice versa: it is possible to swap numerous properties and for a bigger property. Provided that the new possessions are like your initial possessions, you are all set. Do your self a favor and find a good qualified aide to help you.

Rule two: Investment or Company Property Just
A 1031 exchange is only appropriate for Investment or company property, not private property. To put it differently, you can not swap one main residence for a different.

For instance:
in the event that you moved from California to Georgia, you couldn’t swap your principal home in California for the following main home in Georgia.
If you should get married and move to the house of your spouse, you couldn’t swap your current main home for a holiday property.
If you should have a single-family rental home in Idaho, you can swap it for a commercial lease house in Texas.
So as to completely avoid paying any commissions on the sale of your house, the IRS needs the internet market value and equity of their property purchased must be exactly the same , or higher than the property offered. Otherwise, you won’t have the ability to defer 100% of their tax.

As an instance, let us say you own a home worth $2,000,000, and a mortgage of $500,000. To get the entire advantage of this 1031, the new home (or properties) you buy need to get a net value of at least two million bucks, and you are going to need to continue over at least a $500,000 mortgage. It is essential to be aware that the 2,000,000+ worth, and $500,000 mortgage, can go towards a single flat construction or three unique properties with a entire worth of $2,000,000+. (FYI: Acquisition expenses, like inspections and agent fees also apply toward the entire cost of the new home.)

Rule 4: Should Not Get”Boot”
A Taxpayer Should Not Obtain”Boot” in order to allow the market to be wholly tax-free. To put it differently, you are able to conduct a partial 1031 exchange, where the brand new home is of lesser worth, but this won’t be 100% tax free. The distinction is known as”Boot,” that is the amount you’ll need to pay capital gains taxation . This alternative is totally okay and frequently used when a vendor would like to earn some money and is willing to pay any taxes to achieve that.

A good instance of this could be if your initial house is sold for $2,000,000 and the home you want to exchange under section 1031 is worth $1,500,000, you would have to cover the standard capital gains tax on the $500,000″boot”

Rule 5: Much Tax Payer
The taxation yield, and the name looking on the name of this property being marketed, must be just like the tax yield and titleholder which buy the brand new property. Hence, the smllc could sell the first property, which the sole member may buy the new property within their personal name.

The LLC may sell the house possessed by the LLC, also since Sally Jones is the only member of this LLC, she is able to buy property in her name, and also maintain compliance with all the 1031 code.

The house owner has 45 calendar days, post-closing of their initial house, to identify up to three possible properties of like-kind. This is sometimes quite difficult since the bargains still ought to create sense out of a money standpoint. This is true particularly in the current marketplace because people have a tendency to overprice their possessions when there are low-interest prices, so locating all of the possessions you need may be challenging.

An exception for this is called the 200 percent rule. In this circumstance, you are able to identify four or more possessions provided that the value of these four combined doesn’t exceed 200 percent of the value of their property sold.

As you may understand, there are various rules and eligibility requirements you have to comply with to be able to do a successful trade. To sum up things, the biggest benefit of working with this strategy is that you may avoid having to pay capital gains taxes on the sale of an investment home. This may be a massive advantage for property investors that understand which markets are prepared to rise . Additionally, it may be a massive downfall for novice investors or people who don’t know the changing property landscape. If you do not, you risk falling prey to one of the greatest drawbacks is that the low basis for depreciation on your replacement property.

This implies that if you should offer your replacement house, even in a shortage, you’d continue to be liable for the capital profits on the first property. To put it differently, if you would like to maximize the advantages of your market, it is imperative that you pick your replacement property (or properties) wisely, investing in a marketplace which has great potential for expansion in the future.

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