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Ways To Extend Your Outdoor Living Season

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Outdoor living isn’t just for summer. There are many other reasons to enjoy it. The beauty of autumn and the crisp, cool weather are two reasons to enjoy outdoor living beyond summer. You can save big on entertainment and dining out by enjoying great food, drinks and company at home.

While the sun sets earlier in fall on outdoor living spaces, it shouldn’t restrict the hours that you use your deck and patio. You can party and relax after dark by adding low-voltage or solar outside lighting fixtures. You can also use these fixtures to light up your dining tables and grill surfaces as well as underwater in swimming pool.

Low-voltage fixtures can be attached to a 12-volt cable that is connected to a transformer. The transformer plugs into a 120-volt outlet protected by GFCI. Light-sensitive controls, such as a timer, automatically turn lights on or off. A kit that includes eight LED step lights as well as 12 hardscape lights would cost around $3,000.

The only thing you need to connect solar outdoor lighting fixtures is a transformer and cables. After dark, they automatically turn on. Each fixture can be staked into the ground, or secured to an exterior surface or deck. The bulb is powered by a solar-charged battery, which will help you save energy. Six solar light fixtures are $188-$231 and cost between $167 and $271 to install.

A fire pit or portable fireplace can add warmth and style to your outdoor space. They are great for warming up, roasting marshmallows, or gathering around. There are many options available for fueling your fire, including gas, propane, wood, and gel cans.

A fire pit can be described as an open dish, pan, or bowl that measures 24″ x 40″. You can find a fire pit on a stand, some with wheels, or nestled into a tiled top. To prevent flyaway sparks, choose a model that has screening. Wood-burning firepits typically cost $500 to $1,300, while gas firepits range from $900 to $31,800, including installation.
A portable outdoor fireplace (104-488) has a chimney that allows smoke to be vented up to the sky. Some portable fireplaces allow 360-degree viewing of the fire.

Popular choices include the smokeless stove or fire pit. Although they don’t produce as much smoke as a wood-burning firepit, they do not emit as much ash. They cost between $90 and $600.

A portable patio heater can increase the temperature of your outdoor living space by up to 15-25 degrees in the spring and fall.

Freestanding units resemble large floor lamps. They can be placed anywhere that is suitable for their height (7- to 8-foot). Some models come with wheels to make them more mobile. Depending on the fuel source and heat output, you can expect to pay $153-$887.

A tabletop patio heater is placed on top of a bench, table or garden wall. These units produce less heat than taller, freestanding models. The prices range from $72 to $148.

Wall-mount or ceiling-mounted patio heaters are ideal for freeing up floor space and table space. They emit heat through a halogen light. Prices range from $112 to $866.

Consider how much outdoor living space you have and whether you would like a model that runs on electricity, natural gas, or with a propane tank. This will allow you to move around.

 

Original Blog: https://www.houselogic.com/by-room/yard-patio/extend-outdoor-living-season/?site_ref=spotlight

Being A Homeowner Has Its Benefits During Periods Of Economic Decline.

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A homeowner is often referred to as having more financial stability. You can become a homeowner by paying down your mortgage and acquiring an asset that can grow in value over time.

Renting a house can mean that your landlord may charge you more for each renewal. If you have a fixed rate mortgage attached, you will be guaranteed the same monthly payments for the entire term of the loan.

There has been much talk about a possible recession by 2023. Federal Reserve’s aggressive interest rates could cause a significant pullback in consumer spending and a period of economic recession. The idea of a recession is a frightening thought. Here are some ways that being a homeowner can work in your favor.

The worst thing about the possibility of losing your job in a recession is perhaps the fact that it could be scary. Unemployment benefits are often available to workers who have been laid off due to no fault of their own. However, these benefits are limited to a certain amount and you might find your weekly unemployment check is not enough to replace your lost paycheck.

You could tap your savings to help you get through a time of unemployment. Your savings may run out at some point. Your home might be able to help you.

You may be able to borrow against your home equity if you own it. To be clear, both of these scenarios involve borrowing money on which you will accrue interest. However, the interest that you pay for a home equity loan or loan may be lower than what you would pay on another loan product. It’s also likely to be lower than the interest you would pay on a credit-card.

You should also consider whether you are eligible for a loan. Unemployed people may find it difficult to borrow money. A lender might be willing to lend you money if you have a lot of equity in your home. This is because the amount you are borrowing is guaranteed by a valuable asset.

You may be able to get a loan for home equity or HELOC, even if you have poor credit. This is because the loan will be secured by your house, which gives lenders greater confidence.

It can be difficult to own a home. Owning a home means you have to take care of it. If there is a recession and you have to borrow money, being a homeowner can work in your favor. As we wait to see how the year unfolds, that alone could give you more security.

The mortgage rates are at their highest levels in many years and they will continue to rise. To get the best rate and minimize fees, it is important to compare rates with different lenders. A small change in your rate can make a huge difference in your monthly payments.

Original Blog: https://www.fool.com/the-ascent/mortgages/articles/own-a-home-heres-how-it-could-help-you-get-through-a-recession/

Keep Diversity In Mind When Searching For Land

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Many land buyers make the common mistake of not considering diversity when searching for land. A 500-acre hardwood bottom is what many buyers envision. While it is beautiful and could be a great investment, it doesn’t offer the variety necessary to make the property livable all year without major improvements. Land is not an investment that can be used only once. Buyers should look for properties that offer a variety of recreational and entertainment uses throughout the year.

Before a Certified Land Specialist begins walking properties, it is crucial for buyers to identify and prioritize the intended uses of a property. Buyers often get caught up in the property’s aesthetic appeal and forget to consider their needs and wants. Land is a long-term investment. It is best to not act on impulse or rush to make a purchase.

After you have identified your priorities and walked on the property, it’s time to review the property to ensure that the property meets your expectations. If you are interested in a large dove farm, how much land is available to allow for one? You may need to consult an outside consultant such as a forester, wildlife biologist or other expert to make these decisions and get a clear picture of how the property will fit your needs.

Hunting is still the most popular recreational land use. Each year, over 20 million Americans go outdoors to hunt. Most first-time land buyers don’t consider the potential hunting-based uses of a tract. While they know their favorite two or three types of game, they don’t realize the other game animals that can be used to fill in the gaps between seasons. One prime example is dove hunting. Dove hunting is a wonderful way to get out on your property and improve your wing-shooting skills. Dove hunting is a social hunting option that allows you to invite more people than you could with a turkey or deer hunt. Although dove fields may not be successful in every area, they can give landowners another way to enjoy their property. Trapping or predator hunting can be an exciting way to have fun while helping the game species on your property survive. There are many ways to hunt 365; it all depends on the land you have and who is hunting it.

Diversity of the tract is the key to a variety of hunting opportunities. A healthy balance of open and covered land is essential for a tract. The ideal balance of open and covered land is difficult to determine as buyers may have different hunting preferences. It is important to find property that is flexible, meaning it can grow many crops or timber as needed to meet your management goals. A soil map of the property is one way to find out. These are available at the National Resource Conservation Service office . They may be able help you determine the soil productivity of the tract.

Water is an essential natural resource. We depend on it for our survival. A property with a sufficient water supply may have many uses. The water source could be used by waterfowl as a wintering ground. This could make it an attractive hunting area.

A body of water can enhance the beauty and value of rural land. Landowners can also enjoy the opportunity to fish from their property, especially in the off-season. I evaluate the existing ponds and lakes on the land I am interested in buying when I look at it. I will verify that the property has access to a stream or river. High banks can make it difficult to get your boat into the water to fish the creek or river.

Water has many recreational benefits. It is vital to keep in mind that water is essential for wildlife to thrive on any piece of land. Make sure you understand the water situation before you buy a property. Sometimes water rights can be separated from the bundle rights that are included with a parcel, particularly in the west United States.

There are many activities that a property can support or offer. The landowner must be creative and enthusiastic enough to take part in these activities. Many landowners have begun to build sporting clay courses on their properties for the same reasons that dove hunting: to improve their shooting skills and have fun. While the courses vary in cost and style, all offer shooting practice and enjoyment. The same purpose is served by both archery and rifle ranges. They are great fun, especially in the summer when you get the desire to hunt.

Land is one of the most versatile and valuable investments a person can make. Only the land itself and the buyer’s imagination limit the number of possible uses for a parcel of land. Diversified properties will provide buyers with a lot of options. If you decide to sell your property, the tract’s diversity will increase its value. You can make a strong investment in rural America by focusing on your priorities and looking long-term.

 

Original Blog: https://www.landthink.com/maximize-your-investment-buy-a-diverse-property/

 

The Process On Buying A Foreclosure

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Analysts predict that the number of foreclosures may rise. The housing market is healthy, but coronavirus shutdowns have had a significant impact on the economy. Unemployment remains high.

It’s essential to prepare for foreclosure if you are waiting to find a deal. Although many of the elements involved in buying a foreclosure home are the same as buying any other home you can simplify the process by being clear about what to expect.

There are two types of foreclosed houses. There are two types of foreclosed homes: bank-owned and real-estate-owned. In both cases, the lender is the owner of the properties. The main difference is in the stage of foreclosure.

The homeowner of a bank-owned home is in foreclosure. Their lender has taken steps to get them out. Bank-owned properties are often foreclosed and put up for auction. If the home does not sell at auction it is still bank-owned, but it is an REO. REO properties are those that have been at auction but are still not sold. They may be offered to the lender through their REO agents.

Foreclosures are often cheaper than comparable properties in the same area, and can sometimes be significantly more expensive. Many foreclosures sell for a fraction of their market value. A foreclosed house may offer other benefits, including lower interest rates and reduced down payments. You could also avoid closing costs and appraisal fees.

You may be able to find a deal for a distressed property that is not bank-owned.

There is, for example, the pre-foreclosure stage. The lender has informed the borrower that they are in default. However, if the homeowner is able to sell the property, it might be possible to avoid foreclosure proceedings. A lender will take less for a property than the mortgage if it is short-sold. A lender can approve a short sale even if you are in default.

You can also own properties that are government-owned. The federal government is the owner of a property that was purchased with a government-backed mortgage.

If you want to buy a foreclosure, the following are the steps to expect:

  1. Mortgage Preapproval
  2. Find an Agent Experienced in Foreclosures
  3. Make a Competitive Offer
  4. Get an Inspection

A foreclosure home purchase comes with many risks. You may not be aware of hidden costs or problems that exist in a foreclosed home. It can also be slow.

When buying a foreclosure, there is a lot to do. These properties are often difficult to sell because banks tend to take a long time to respond. If they have a lot of foreclosures backlog, they may take months to respond.

This doesn’t mean that buying a foreclosure is a bad idea. These are just some of the hurdles you should be aware of.

 

Original Blog: https://realtytimes.com/archives/item/1039976-what-s-the-process-to-buy-a-foreclosure?rtmpage=

USDA Loans Aren’t Just For Farmers

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You wouldn’t be alone in thinking USDA loans were only for rural farmers.

The program is accessible through the United States Department of Agricultural. The Rural Development (RD), which was initially called the Farmer’s Home Administration, administers the program.

Russell Hood, an originator of the Meriden-based company Planet Home Lending, stated that about half of those looking for a mortgage through Planet Home Lending don’t know anything about USDA loans.

It is worth taking the time to find out if you are eligible. You might be surprised at who qualifies. USDA loans can offer many advantages over other programs if you’re eligible.

Most people are aware that USDA mortgages are intended for rural residents. Many people think they won’t be eligible because they don’t consider themselves rural residents.

The definition of “rural” can change between different government programs. For USDA loans, however, “rural” can be a surprisingly low standard. It refers to any town, village or city with fewer then 20,000 inhabitants that isn’t located in a Metropolitan Statistical Area. An MSA is defined by the Census Bureau as a group of counties that surround a city with more than 50,000 inhabitants.

There is also some flexibility for fast-growing areas to remain eligible for “rural” status for a period beyond these points.

This means that 97% of America’s land mass is considered “rural” to qualify for a USDA loan. According to a report, 34% of Americans live in an area eligible. Even suburbs outside of major cities like the western part of Olympia, Washington’s capital, and parts Long Island, New York, are eligible.

USDA loans can also be very useful in helping people who otherwise wouldn’t be able to purchase a home. To be eligible for a USDA loan you must be not eligible for a conventional PMI free mortgage. You’d need to pay a minimum of 20% down payment in order to achieve this, which many people don’t find realistic.

One of the greatest benefits of USDA loans is the fact that you don’t have to make any down payments.

If you are eligible, one final reason to consider USDA loans is that they don’t have as much impact on your finances than other government-sponsored mortgage programs. It’s often a better option if the income and property meet the USDA standards.

The upfront funding fee for most government-backed mortgages is usually 1%. This is lower than the 1.4% to 3.6% charge for VA loans, and 1.75% for FHA loan. FHA loans have an additional fee of 0.45% to 1.5%.

USDA loans are often offered at lower rates. This is partly due to the way RD works together with lenders to provide USDA Guaranteed loans. This is a bad term as it does not guarantee you will get a loan. The USDA “guarantees” up to 90% loan amount. In other words, if you default on your loan, the USDA will reimburse your lender up to 90%.

Although this guarantee does not directly benefit you, it can make things more affordable for you. Lenders are almost guaranteed to recoup some costs in one way or another. This means they can pass lower rates on to you. That could result in significantly lower monthly payment with USDA loans.

USDA Direct loans are cheaper than conventional mortgages. The fixed rates for low-income and very low-income buyers were set at 3.25% as of October 2022. This is compared to 6.65% for a conventional loan. The average USDA loan cost $178,400 in 2021. This is $380 less than what you would pay if you borrowed conventionally.

 

Original Blog: https://finance.yahoo.com/news/zero-down-usda-mortgages-arent-100000653.html?guccounter=1&guce_referrer=aHR0cHM6Ly93cmVuZXdzLmNvbS8&guce_referrer_sig=AQAAAEMfd_s6cf9cnjRg0x12RmnucbOROcR906XA3ztVq5J9aer0l4bSUkxUFB1PFtF6tNXBmMtHZDwWjWCjGfjlYJZKBRyn1jXmUAqGA9qW95XW9lRqq1wR2LFGKnvTYJ2r3MZWVV0zD9OAkyxJbok30FkWB5tB8zeonGDjhM1ifUgf

 

How Lenders View and Treat Financial Gifts

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You might consider asking your parents for some help in buying your first home. Lucky you! The biggest hurdle for most homebuyers is securing the funds to pay the down payment and cover closing costs. However, a little financial help can go a long ways in obtaining a financial boost. It is important to understand how lenders treat financial gifts before you apply for a loan. What’s important?

Lenders will need to verify that the financial gift is legitimate. The lender will match what appears on your paycheck slips with deposits verification from your bank statements if you submit your bank statements. Deposits should appear on the dates you receive your pay, i.e. if you are paid on the 15th and 1st. If you receive a financial gift, however, the money will appear in your account. Lenders will need to know the source of this irregular deposit.

Lenders want you to be sure that the money in your bank accounts is not from a loan. You will have to repay the loan in either monthly installments or one lump sum. This can impact your ability to repay your mortgage, and at the minimum, increase your debt-to-income ratios.

Family members, qualified non-profits, and life partners are all eligible sources for gift funds. No matter what source you may be, you will need to submit a letter from the donor acknowledging that the funds were a financial gift. You are not expected or required to repay them. You may decide to repay the donor in full or in part if you so choose.

You will need to explain where the funds came from when you receive the gift. Lenders have the right of verifying that the donor is able to pay the gift. They can also expect to be paid back. The donor’s source of gift funds will be noted in the gift letter. Simple ‘from our bank’ will suffice.

If you are hoping to get financial assistance from qualified sources, it is important to know that it is not as easy as saying “it came from my bank account.” The funds will be used for financing the purchase of your new house. You’ll need proof that the funds are yours and not to be repaid.

 

Original blog: https://realtytimes.com/archives/item/1045762-understanding-financial-gifts?rtmpage=

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