The Top Items You Will Need for your new house

When many people purchase a new house there are always things you didn’t notice on the last inspection or didn’t even think about needing. To help you out please find a list of the top items you could use for a new house below. These items also make great gifts for someone you now has just bought as house.

  • Zip ties
  • Duct tape – Useful for sealing any gaps or holes quickly.
  • Bungee cords – Great for moving the Christmas tree along with anything else you need to bundle to your car.
  • A tarp – Helpful for yard work, useful in case your grill cover blows away, can help cover a broken screen, and can even be used as a drop cloth while painting.
    Have a broken screen panel on your screened in porch from the same storm? Hang that tarp.
    Need a drop cloth while you paint your kitchen? You get yourself a tarp.
    Need to catch branches on the ground while your prune your trees? Get a bucket.
  • Flashlight with extra batteries – In case of a power outage or other emergency.
  • Fire extinguisher – One for each floor, along with one in the kitchen and garage.
  • Studfinder – Great tool for fining the right place to hang anything you need.
  • Toilet plunger – Better to be ready for what might happen and not be s… out of luck.
  • Long high quality extension cord – You never know when the power might go out in a room or area and how far away that place might be.
  • High quality hose – You will need it for a long time so make sure it lasts and doesn’t leak.
  • Tool set – Start with a cheap one but as tools break from use understand which one’s are used the most off and slowly replace them with the best quality one’s you can afford.
  • Carpet cleaning machine – Spring the couple hundred dollars and keep your house clean.
  • Ladder – Useful for changing light bulbs, cleaning gutters, and anything else you can’t reach on your own.
  • Carbon monoxide detector – Better to be safe than sorry.
  • Level – A very helpful tool to check if pictures you are hanging are flat or any other project you are working on.
  • Voltage pen – To easily make sure the various outlets are wired well and won’t zap you or your appliances.
  • Dolly – To move heavy items around easily.
  • Make sure the house receives cellular signal and if it doesn’t look into getting a signal boosting device or make sure you are utilizing Wifi when calling.
  • Cash – You will never know when the pipe will leak or what other small issues will come up.

Tracking Where Your Money Goes With Sankey Diagrams

Sankey diagrams are a type of flow diagrams with differing widths of arrows that track where an initial amount goes.

They make for a great budget tool to see how your money ends up going. You can easily plug in your weekly or monthly expenses and paychecks or even put in your yearly W2 data to track our how your expenses and money have been going.

Sanekmatic.com is a great free tool to make your own charts.

Here is sample Sankey chart made using SankeyMatic:

A Perfect House And A Long Commute

This is a dilemma most home buyers have to face. On one hand, they have their dream property right in front of their eyes and on the other; they have the ignominy of a long commute. But before discussing the long and short of this, what defines a long commute. Is it a 30 minutes drive, a 45 minutes exercise, an hour and a half gruel? The time needs to be factored in. Also, if one is commuting for that long, you need to calculate the returns you are getting while doing so. The ideal question should have been, is it worthwhile?

Now, money is and will forever be a finite instrument. Just like life and time.  So how much of it would you be spending in the car, stuck in traffic and not being happy about it at all? Perhaps nothing at all. However, let’s look at the other possibilities. Your workplace, even though at a great distance from your new home, pays you well. It pays you to afford a great house, bills that you need to pay each month, education for your child et al. If that is the kind of job you are currently in, the journey is worth the while. Also, the title did mention a perfect house. Now that would mean, it did fit your budget more admirably than the other ones which you had checked out. The advice would be stick to it. Both your job and your perfect house matter and what links both of them is the paycheck you receive every month. Of course, if either one is suspect, then you have to start looking for newer possibilities. If it is not and I presume it surely is not, a commute should not be the deciding factor. Certain other things to look out for. Is the new house, which seems perfect to you, in a good school district, provided you are a couple. Even if you are not, the future needs to be factored in.

Statistics show that while the average commuting time has remained unchanged at 25.5 minutes those traveling for more than an hour rose to 11.1 million in 2012. Now that is a rise of 300000 from 2011.

Hence, idea is to strike a balance and it greatly boils down to priorities and find the perfect mix.

Five Easy Tips for Young Homebuyers Buying Their First Home

Buying a home for the first time can be both an overwhelming as well challenging task. You have so many things to consider while buying a property that you will call home for the rest of your life. Young couples often face the daunting task of deciding on a house that fits their pocket as well as aspirations. Thus, it is imperative to do a little financial homework before you can actually get down to some legwork.

Here are 5 easy tips for young homebuyers that will make their task much easier:

  • Check your credit score – To qualify for a loan, your credit score is going to play the most vital role. Every bank follows very strict loan approval criteria when it comes to credit scores. You will have to check your credit report for unpaid accounts or collection accounts or mistakes and rectify anything that can adversely affect your credit score. If you have a damaged credit score then you will have to invest some money and time to get it rectified. You need to keep in mind that only a good credit score will make you eligible for a loan.
  • Weighing your assets and liabilities – First time homebuyers need to weigh their assets and liabilities. They must be aware of the amount of money they draw in and the money that they actually owe. This will give them a clear picture regarding the money that they will need after buying a house.
  • Arrange the documents – You will need documents at every stage of home buying, so be ready with documents like two recent pay slips, tax returns, last two month’s bank statement etc. Buying a home is a time consuming process but when you are ready with the documents, consider one third of the job done.
  • Find out whether you qualify – You will need to find out whether you actually quality for a housing loan or not. For these you can ask the bank officials and find out the amount of money you will need to repay the loans and the exact amount of loan you qualify for.
  • Determine the down payment – You will have to get in touch of your bank and find out the exact down payment that you shall have to make. This again can be determined from the loan amount and the time period for which you wish to take the loan.

Retirement 101: Will I Ever Be Able to Retire?

Most of the people today are busy spending more time contemplating about the future hobbies, adventures, and travels that they would do during retirement. This is also the reason why they are saving and investing as early as today to support the lifestyle that they are envisioning when they already decided to stop working.

However, there is one question that remains in their minds, “Will I ever be able to retire?”. Even though they already have a vision of what is waiting for them in the future, there is still this hint of uncertainty. This is normal. Of course, we can never be so sure of the future, right? Read on and find the answer to your question about retirement.

While 2/3 of people are now investing and saving for their retirement, 15% of them are planning on winning the lottery and 1% of them expect that they would be money-gifted. There are really many factors that intervene when it comes to retirement. But there are ways for you to be sure if you will really be able to retire. Here are some:

  • Know Your Expenses – Knowing your expenses is very critical for your retirement. If you have not been tracking your expenses, now is the best time for you to start your expense analysis. If you understand where your money goes, you can assess how much you will be needing for you to live in comfort during retirement. Do this by:
  • Plan for changes in your retirement expenses
  • Consider downsizing
  • Consider changes in healthcare cost
  • Understand Your Income Sources – Understand what is your income source when you are already retired. Are you depending on annuities, pensions, Social Security, distributions, or your own retirement savings? If you have savings, know if you can convert them into income stream or investment account.
  • Generate extra income
  • Take some risk
  • Do not forget inflation
  • Save More Often – Your savings play a big role in your retirement. It is actually the top consideration during retirement because it is the amount that you can surely use when you stop working. You can use your savings to invest in anything that you would like to do when you reach the age of 60 and up. If you are saving now, save more often. It would really be great help on your retirement.

The answer to the question “Will I ever be able to retire?” will always depend on how you work on it before the time comes. Retirement is not something that people should ignore. It is hard to work and earn money. You would no want your effort to come to waste in the end.

As early as now, do something to remove the uncertainty in you. The above mentioned are tips on how you can guarantee your retirement soon. Doing these tips will significantly determine your future lifestyle and status when you reach the age of your retirement.