Are You Ready For Anyhting?

Vey few people believe a catastrophe will happen to them.Very few of us protect ourselves for such catastrophes. But when something bad happens, we realize how badly prepare we were.  Before you go out and buy something nice you did not need, or click the mouse and ordered something to clutter your home, ask yourself if you are ready for an eventuality. And if the answer is no, then prepare yourself by reading the articles below.


Cramer’s 3 things you must have in place before you invest

Owning stocks can provide serious earning potential, but Jim Cramer considers it just one piece of the investment puzzle.

“There are some people, call them the 1 percent if you will, who can make enough money from their ordinary day-to-day income to become truly rich. But for the vast majority of Americans, that paycheck is simply not enough,” the “Mad Money” host said.

The key to capital preservation is knowing the importance of saving money and preventing loss. Without this, don’t even think about investing in stocks, he said.

“You can make a fortune in the market, but if you’re hemorrhaging money everywhere else, than a healthy portfolio isn’t going to do you much good,” Cramer said.

The three keys to success in capital preservation are paying off credit-card debt, having health insurance and getting disability insurance. Without these things crossed off the list, investing just doesn’t make sense.


How much homeowners insurance do I need?

You need enough insurance to cover the following:

  1. The structure of your home.
  2. Your personal possessions.
  3. The cost of additional living expenses if your home is damaged and you have to live elsewhere during repairs.
  4. Your liability to others.

The structure

You need enough insurance to cover the cost of rebuilding your home at current construction costs. Don’t include the cost of the land. And don’t base your rebuilding costs on the price you paid for your home. The cost of rebuilding could be more or less than the price you paid or could sell it for today.

Some banks require you to buy homeowners insurance to cover the amount of your mortgage. If the limit of your insurance policy is based on your mortgage, make sure it’s enough to cover the cost of rebuilding. (If your mortgage is paid off, don’t cancel your homeowners policy. Homeowners insurance protects your investment in your home.)


7 ways to protect your financial health with an annual insurance checkup

Natural disasters and other catastrophic events are not fun to talk about. But ignoring the need to insure against catastrophe doesn’t decrease the chance of them happening to you. When (let’s say if) they actually happen to you, it is much more devastating if you don’t have the right insurance coverage.

Homeowners insurance is essential. It is designed to protect your home and possessions. It also shields you from liability for accidents and such. You may think you have already had the discussion with your agent and have no need to examine the risks and coverage each year. If you think this way, carefully consider the many reasons why you need to think again.
1. Your Risks Have Changed: You may be paying for insurance you no longer need. On the other hand, you may need more coverage based on your current life. For example, do you have coverage for the current value of your home. Most homes in our area have gone up in value in recent years. If something happens, insurance based on what you paid will fall short of what you need.


 

Living Responsibly This Year

As of the first quarter of 2016, and according to an article published by Time magazine about retirement, 1 in 3 Americans have saved $0 dollars for retirement.  The difficulties of saving for retirement has plagued the nation by increasing health and car insurance premiums, mortgage payments, college increases and everything else in between. Back in 2013, more than 3 quarters of Americans were living paycheck to paycheck. In 2016, more than half of Americans have less than $1,000 dollars to their names according to a Forbes magazine article, and many people will have difficulty paying for a $400 dollar emergency.

There are many polls and articles about the reason Trump got elected the next president of the United States, and the reason may seem reasonable for those who voted for him; They believe he will make their lives better.

But many economists, analyst,and people that Do know economics believe the top 1% will be the only people that benefit from a Trump presidency.  If you are in the 1%, congratulations! But if you checked the links above and checked the Times’ article, and you are one of those Americans that are living from paycheck to paycheck, then you will have to wait and see if a Trump presidency is beneficial to you.

We, as individuals have to take care of our finances first, before we can take care of many other issues concerning our lives.  Regardless who is the president at the moment, our personal finances are our responsibility and have to take care of them responsibly.

There are many safety precautions we take with our children to live a safe and prosperous life, and here are the 3  insurances we must have to live a responsible life, and to protect our children in case of an accident.

  1. Homeowners Insurance —For many people, their home is their greatest asset.  If they have equity, if their home has gone up in value, or they have done a good job remodeling, chances are the home is their greatest asset.
  2. Disability and Life Insurance— Health insurance is and has been mandatory since 2014.  You must carry a minimum level of health insurance coverage or risk paying a tax penalty fee otherwise. Life insurance isa protection for your family in case something should happen to the main provider.
  3. Car Insurance —In many states in no longer possible to register your car without proof of insurance.  Having enough insurance to protect yourself and any passengers traveling with you at any time is the prudent thing to do.

Living responsibly means taking care of those frustrating issues that we would rather not.  Insurance to protect our assets and the health and well being of our family falls into that category of frustrating issues. Live well and responsibly. Take care of your family issues.


Buying A Home in 2017? Read this First

Are you thinking about buying a new home this coming year? Chances are, before you are done looking at many houses, you will find one with a wet basement. There are many houses in northeast Ohio that because of their age have problems with the basement, or even the foundation of the house.

If you are buying or selling a home, the basement and foundation of your home are two of the places that can make or break the deal.  A basement with water on the floor can leave the buyer unwilling to make an offer, even if the upstairs is lovely.  If the foundation has problems, it is very unlikely you will get a good offer for the house.

Read more about what to look for when buying or even selling a home by following the links below.


Homebuyers: 7 Red Flags to Search for When Touring a Basement

When you compile your list of must-haves in a home and compare it with what’s on the market, a finished basement is almost always a big plus. You get additional square footage for living, entertaining and storage without having to put up the effort and money to finish the space yourself.

But before you fall in love with that finished-basement abode, approach the space with a critical eye. The basement, after all, houses most of your home’s key functioning systems, from plumbing to electrical and gas. A poorly constructed or maintained space might lead not only to costly repairs, but also cause damage elsewhere in your home.

Consider the consequences of taking on a troubled basement. If the finished below-grade space lacks permits or proper waterproofing or contains amateur craftsmanship, you could face municipal fines or risk sickness-causing mold and future fire hazards.

When it comes time to negotiate with a seller on purchase conditions, consider these basement red flags a bargaining chip to ensure you’re getting a well-maintained home. “I would make sure it got resolved before they actually purchase the home,” says David Schrock owner and founder of Basement Spaces Inc. in Aurora, Illinois.


Tips for a finished basement that’s mold-free

Q. I want to get your input on the correct way to finish, in this case refinish, a basement. I believe the previous owners missed one or two critical steps, causing mold to grow on the backside of the drywall.

The house is about 60 years old with a poured-concrete basement foundation whose walls are in good shape. The concrete walls were not painted/waterproofed on the inside. There are no signs of water leaks or holes in the walls.

The previous finishing was done by putting in untreated 2-by-3s as studs ¼ of an inch from the concrete walls, stapling R13-value pink insulation to the studs, then putting up regular drywall on top of that. Twenty-five years or so later, mold appeared on the bottom portion of the drywall (on the back ), and some of the untreated-wood sill rotted. These items are now gone. There is an appropriate-sized dehumidifier in the basement.

To insulate, seal, and finish the basement properly, what are the best steps for the money that meet the necessary building code standards? It seems there are a number of ways to go about this.


The rise of the basement: Tips for a better space

OMAHA – With fewer homes for sale and good returns on the remodeling investment, more homeowners are reclaiming their lower levels and remodeling their basements.Basements are coming out of hiding these days. And they’re doing it in style, with before-and-after transformations featured everywhere from HGTV to Pinterest and YouTube.

What’s driving this trend? A tight housing market, for one thing. With houses at a premium – and a proliferation of DIY how-to’s – more homeowners are inspired to reclaim their unused space and expand their living area.

A smart, affordable upgrade

Updating your lower level is a sound investment in your home. Remodeling magazine’s 2016 Cost vs. Value Report put the average basement remodel at $61,303, with a 70.3 percent payback – a far better investment return than adding a bathroom or garage.

Props for your property value

Depending on local regulations, the additional space can often be added to your home’s total square footage, making your market listing more appealing to buyers and potentially increasing your property value.

To recoup the most from your remodeling efforts, make sure your design and decorating choices are attractive and functional – not too quirky or customized.


Taking Care of Your Home

Remodeling the basement is not a top priority for many families.  Their budgets do not allow the expense of remodeling a whole basement, or the upper stories offer all the space they need.  But regardless of what your situation is, having a waterproofed basement is a necessity many families need to have.

If your basement is wet, has too much humidity, has mold, or has crack on the walls, you need to have your basement check by a knowledgeable person to determine the damage and to find a solution. 

The many illnesses associated to mold found in basements across the country are many; From eye, nose and skin irritation for those allergic to mold to respiratory system problems that are very dangerous to people’s health.  Wet basements are not a very nice place to be in they are in disarray, but offer the much needed space for a growing family.

Taking care of your home does not begin or end with the basement.  But, the basement and foundation of your home are very important parts of your home that you need to take care if they have problems before looking to fix something else.  These are some other things you can do to protect your home.

  1. Make sure the gutters and downspouts are properly connected, and free of debris.  Make a conscious effort to clean the gutters after the fall to ensure they are free of leaves and make sure the downspouts are taking the water away from the foundation of your home. From 5ft. to 10ft. ensures the water won’t find a way to the basement of your home.
  1. The mulch on the flower beds around the home should not reach above the sealant of the foundation. Flatten the mulch on the flower beds making sure there is no stagnant water anywhere near the foundation.
  1. Have you checked the grading around your home? The cement driveway can over time become unleveled and allow water to sit around the foundation, and inadvertently find a way to the basement of your home.
  1. The roof of your home is an expensive home repair you have to keep in mind.  Many homeowners overlook this simple maintenance home inspection check that can save you thousands if you find the problem quickly. Checking the roof of your home every year allows you to catch a problem before it gets too big.  Loose shingles or curling shingles are some of the first signs you need to check to see if you have a problem with the roof of your home.
  1. The moulding around your exterior windows should be checked periodically to make sure it’s in good condition.
  1. Have you checked your shed? How is the roof? A good quality shed at one of your Home Depot or Lowe’s stores can set you back close to a thousand dollars.  Why not check the roof, walls and doors to make sure they are in good condition, and if not, make the small necessary fixes to prolong its life?

For many of us, our home is the biggest asset we have.  By taking care of our homes, we increase its value while allowing us to live in a place that we can truly call home, and live comfortably ever after.


Humidity Control Gadgets For This Holiday Season

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For an allergy sufferer, clean air is not a commodity, but a need.  Allergies in the spring and fall, are a very trying time for many people.  Children with allergies  seem to have a hard time during this time, and school work and play time or exercise seem to be more of a chore than normal.  Humidity control in your home becomes a necessity, and here are two gadgets that are sure to help you control the humidity and clean air in your home.  Before you go out and buy things you do not need for christmas, think about these two choices for your home.


The Importance of Protecting Your Home from High Humidity

Homes that are subjected to high levels of humidity over a long period of time can suffer serious damage, which often requires expensive repairs. There are other times when repairs just aren’t possible if the humidity is left unchecked for years without taking precautions to keep the air within a range of less than 60%. 

While there are countries that have high rates of humidity due to warm, tropical air, the UK sees more than its fair share of rain each year, which is also a factor in the amount you will need to counteract in your home. Whether you intend to live in your home for many years or would like to sell it in good condition to get a decent asking price, there are some very important things you need to know about how humidity can impact future plans.

Why Is Excess Humidity a Problem?

Most people know that mould and mildew can be the ultimate cause of a huge number of physical ailments, typically in the respiratory system, but an equally large number of homeowners don’t understand exactly where that mould and mildew comes from. Over time, if left to accumulate, moisture in the air will provide the breeding ground for mould and mildew. This is where it comes from. However, most people have it wrong!


ecobee3 ‘lite’ Offers Same Smart Thermostat Features for $169 Price

In 2016, everyone wants to have a smart home, and one of the first places to start is with your thermostat. A smart thermostat can lead to savings on your electric bill, and who would argue with that? According to ecobee’s findings, running a smart thermostat can save you an average of 23% on your annual heating/cooling bill, so while these devices do have upfront costs, they should pay for themselves in the long run.

If you are already convinced on this technology, but were waiting to find a more affordable option than Nest’s latest or the standard ecobee3, ecobee has a new unit called ecobee3 lite. The lite model is priced at $169, which is a solid $80 cheaper than a Nest. With the lite model, you still get a digital touchscreen with readouts for your weather forecast, control over vacation modes, as well as alerts and reminders that only a thermostat should provide you. These alerts typically show up only when something isn’t working in the system.

I have been running an ecobee3 in my home for a few months now, and I must say, it’s quite nice. One feature I use in the colder months (which is now, sadly), is an automated feature that uses my area’s weather forecast to set my house’s temperature accordingly. For example, if it’s going to be a high of 54 degrees today, ecobee3 reads that information, then cranks the heat to make sure the inside of my home is never colder than 69 degrees. It’s very basic, but it works, and that’s all you can ask for from something called a “smart” thermostat.


Netatmo Healthy Home Coach review: This indoor climate monitor reports the obvious

This gizmo monitors indoor air quality, temperature, humidity, and noise, but it won’t tell you much you don’t already know.

Everyone from the EPA to the American Lung Association has stressed the importance of indoor air quality. Indoor pollutants don’t just impact personal comfort, they can often cause or exacerbate health conditions. Some researchers have even called for greater effort to monitor indoor air.

Fortuitous, then, that Neatmo has released the Healthy Home Coach ($100). This device monitors your indoor climate in real time to help you create the optimum environment whether you have particular health requirements, such as allergies or asthma, or just want greater comfort.

What you get

The Healthy Home Coach follow the same design cues as the Neatmo Welcome home security camera and the Netatmo Home Weather Station. It’s a 1.77 x 1.77 x 6.1-inch cylinder with a champagne-colored aluminum finish. There’s a single vertical light bar on the front that illuminates when the device is taking a reading. The Healthy Home Coach is easy on the eyes—certainly more so than your typical home hydrometer or thermometer—and can be placed inconspicuously on a shelf or end table.


 

Home Improvement Tips

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You might not be selling your home just yet, but having a list of repairs or projects to better your home is a good way to keep the maintenance to a minimum, and the value of your home increasing.  Snow, sleet, high winds, and rain can play havoc to your home if it’s not properly maintained. Gutters full of debris can be a problem when the snow comes, and the spring showers can really be a problem for the basement and foundation of your home if those gutters were not cleaned after all.  Having a list of chores to do this fall, or home improvements that you need to consider, can keep your home and wallet “healthy” this year.

For more about this and other topics, follow the links below.


Kuffa: Small details could become turn offs for a home sale

Let’s talk about simple turn offs to houses on the market.

We often get calls from people who say, “My lender (or Realtor or parent) told me I should get a home inspection even though I don’t think I really need one.”

Then the day comes for the big inspection and I’m sitting in the driveway just looking at the exterior and my brain is racing because of numerous problem areas I have seen before I’ve even left my vehicle.

Inspecting a house is like being a detective. You are looking for clues, irregularities, oddities and indications of non-professional work. Other clues may be indications that previous owners or residents were possibly “do-it yourselfers” or were just neglectful or didn’t take care of the property. As an inspector, it is always easier to inspect a building whose previous resident has lived there for a long time. This resident has more knowledge about the history of the house and usually their lifestyle and habits are more evident. Also, it is always easier to inspect a house that is represented by a real estate agent than one that is “for sale by owner.” The real estate agent has to abide by specific laws and rules, fills out required paperwork and has their reputation at stake. In my experience, The “for sale by owner” situations typically are more problem laden, less often abide by the same rules as a real estate agent and the seller has decided to cut out the real estate agent’s fees.


Waterproofing Basement Walls: Costs and Options

Tempted by ads that promise to waterproof your basement? Here’s the scoop:

If you’re trying to figure out how to cure a wet or musty basement, you’re probably curious about advertisements for products that claim to waterproof basement walls. So you wonder: Is it really possible to dry out a basement simply by sealing the walls?

Yes, it is possible — but to make sure you’re choosing the right option, you need to figure out if the moisture is coming from the outside, or if it’s actually high humidity that’s condensing on the cool walls of your basement.

How to Find Out What’s Causing the Moisture

Tape a 1-foot-square piece of aluminum foil to the inside of your basement walls, and leave it in place for 24 hours.

If there’s condensation on the outside of the foil, you have high humidity in your basement. Fix it with a portable room dehumidifier or a whole-house humidifier system instead of waterproofing products.

If the foil has condensation on the inside surface (next to the wall), it may be the soil around your house is naturally damp from a high water table or poor soil drainage. In that case, waterproofing your basement walls can be useful.


How to Conquer the Huge Problems Found During Home Inspections

You’ve finally found a buyer for your beloved home and signed a deal. Phew, what a relief! But then comes the reality check, aka the “home inspection.” Such simple words, yet so fraught with stress and fear! Many contracts include a contingency that allows the buyer to back out if serious problems are found during inspection. So, bring on the fear.

Of course, you know your home and you think it’s just fine, but maybe a professional with a less sentimental eye might see it differently?

To keep at least one step ahead, check out these common issues found during an inspection. That way you can fix them, save the deal, and even save yourself!


 

Buying A Home? Read These Tips Before You Commit

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There is nothing quite like getting your first home.  After years of paying rent, signing the papers that make you a home owner is quite exciting.

The pitfalls that come when buying a home are many and it’s better to be aware of them before you sign those papers. So, what are some of the things you need to be aware when looking to buy a home? A thorough home inspection is absolutely a necessity.  The roof, foundation, water heater, furnace, and air conditioning are expensive home repairs you do not want to overlook when inspecting the home. Make sure the home inspector is a licensed professional with a good reputation before you hire him/her for the job.

Follow the links below to read more about this very important topic.


Buying an Old House? Here Are 5 of the Scariest Issues You Could Face

Many investors dive headfirst into real estate simply because it can bring high returns. However, those with more experience know that renting or flipping a home doesn’t always …

Many investors dive headfirst into real estate simply because it can bring high returns. However, those with more experience know that renting or flipping a home doesn’t always put you in the green, particularly if the house is subject to a number of serious issues.

Sometimes, when you tour a house or look at listing photos, the outdated fixtures can throw you off. For example, Formica countertops and closed off quarters can be a turn-off to investors. However, this is all cosmetic and can be easily fixed. It will cost a little extra, but these little changes won’t compromise the entire structure of your home.

When looking for a house, you must carefully watch for signs of issues that will cost tens of thousands to fix and potentially render the property unprofitable. If you see any of the following signs, think twice before making a purchase.


Home inspection checklist: What to inspect

If you’ve signed a contract to purchase a home, a key step before completing the sale is getting a professional home inspection. Make sure to keep this home inspection checklist handy – the inspection is often the last chance you’ll have to go inside the home before the final walkthrough.

“In my experience, the majority of homebuyers don’t know that much about what they are buying and are relying on the inspection to fill in the many gaps in their knowledge,” says home inspector Scott Brown, owner of Brightside Home Inspections in Syracuse, New York.

If your purchase agreement has an inspection contingency — and it should — a home inspection that reveals serious flaws can allow you to walk away from the deal without penalty. It can also allow you to ask the seller to make repairs before closing, saving you money and potentially some hassle.


A 5-Point Checklist for Buying Your First Home

Get these out of the way before you start house-hunting.

Are you buying a home for the first time? Before you start looking at wrap-around porches and bay windows, here are five things you need to do.

  1. Get your credit reports straight. The interest you’ll pay on your mortgage depends on how creditworthy your bank thinks you are. That means you have to cast yourself in the best light. Order all three of your credit reports — from TransUnion, Experian and Equifax — about a year before you start looking. Fix any mistakes.
  2. Set a budget. One good rule of thumb is to make sure your house doesn’t cost more than 2.5 times your salary. If your household income is $100,000, then $250,000 should be your max.
  3. Figure out which type of mortgage you want. So this breaks down to: fixed-rate versus adjustable rate. A fixed-rate loan is when the interest rate and payment stays constant for the entire loan, usually 15 or 30 years. An adjustable-rate mortgage has a fixed interest rate that then resets after a certain period. A good rule of thumb is that if you can afford a home only if you get an adjustable-rate mortgage, then you can’t afford a home.

The Fun Part of Waterproofing the Basement – Decorating It

stock-photo-3164773-executive-home-bar-and-entertainment-roomYou finally got your basement waterproofed.  It’s dry, looks good and smells even better.  Now it can be used as an actual living, working, and storage space.   This is where the fun starts; it’s time to decorate.

Basements can be a decorating challenge because they’re usually used for a variety of different functions (i.e. workshop, crafts, kid’s play area, storage, media room, workout equipment, laundry, meditation).  Some of these uses are utilitarian and straightforward, while others are more esoteric and personal. 

Here are some decorating ideas to make your spaces functional and uniquely your own.

Use the walls

Too often walls are used only to hang pictures on or put furniture against; there are other uses for them.  Think about using your storage needs as a decorating opportunity.  Depending on the function of the room consider using bookcases, cubbies, lockers, storage units or shelving.  Add corresponding baskets or plastic totes and you have a functional as well as decorative feature. 

Exercise room – metal shelves for weights, workout DVDs, fitness balls/mats and clear plastic totes for smaller items.  Kid’s play room – shelving (sturdy and secured to the wall) painted in primary colors for books, games, baskets and colored totes for toys.  Media room – bookcases for DVDs, electronic equipment and baskets for remotes.

Consider the ceiling

People don’t consider the ceiling when they’re thinking of decorating.  But, the basement can be different – like the walls, the ceiling can be used for decoration and function.  If you have overhead space there are some creative ways to use it.

Kid’s play room – string a net from the ceiling between 2 corners and use it to store balls.  Workshop – save garage space by hang bikes or golf bags along the wall, out of the way, with ceiling hooks.  Storage room – that Christmas tree doesn’t have to take up valuable self or floor space; some overhead hanging units can hold up to 250 lbs. 

Remember the stairs

The space under the stairs is usually left to spiders and bugs.  There are many pre-made cubbies, shelves and bookcases that fit under standard basement steps or you can get built-in shelves or cabinetry. 

Getting to decorate after your basement has been waterproofed is exciting, and there are a lot of good ideas you can use.  Just keep in mind that simple and uncluttered never goes out of style.  Cluttered and disorganized will make even an Architectural Digest room look bad.


Nicole Abbott is a professional writer who’s had over 200 articles published.  She’s a business consultant and former psycho-therapist with over 20 years of experience in mental health, business and addiction.  She’s a coach, lecturer, trainer and facilitator.  She has conducted over 200 workshops, trainings, presentations, seminars and college classes. 

Protecting Your Home By Waterproofing Your Basement

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One of the most obvious tell-tale signs of problems with the foundation of your home is the cracks in the floors and basement walls.  Puddles in the basement, and flooding after a rain, means you have a problem there. Waterproofing the basement and making sure the foundation of the home is not compromised requires immediate attention before the problem escalates. Problems to the foundation of your home done by swelling soils can play havoc to the entire structure, and make your home unsafe.

Calling a contractor or company to do the work requires you to do your homework first.  Make sure you call a reliable company with a long, and good history in the area.  If you still have questions and need an honest answer, then contact us.  We have an excellent record doing business in Northeast Ohio since 1979, and we’ll be happy to talk to you.


With more rain on the way, here’s how you can prevent water from leaking into your basement

WICHITA, Kan. (KSNW) – While some people across southcentral Kansas saw extreme flooding over the last week, others experienced the storms in smaller doses with some minor basement flooding.

KSN wanted to find out what you can do to prevent water leaking into your basement and how to minimize damage if it’s too late.

The key is to divert any water away from your home, and while that may sound obvious, it’s an issue a lot of people struggle with.

You can start outside your home by extending rain gutter down spouts away from the house itself.

Next, make sure the grade of your yard surfaces slope away from your home, creating a natural flow downhill.

You can also clear your gutters of leaves and other debris that may block water from flowing through.

Finally, install a sump pump and even potentially a back-up sump pump if needed.

To learn more, KSN spoke with Danny Morrow, owner of Kansas Basement and Foundation Repair.


So, You Want to… Waterproof Your Basement – BobVila.com

Basement waterproofing can be a confusing (and expensive) process. But if you’re dealing with leaky foundation walls or water welling up from the floor, finding an effective means of managing these problems could save you a lot in the long run. Here’s a quick rundown of your options for keeping downstairs dry.

Unless your plan is to install a swimming pool in your basement, you probably cringe at the idea of water trickling in beneath your house. While the best time to waterproof is during new construction, if you live in an older structure, you don’t have that luxury. There are, however, a few measures you can take to protect your home from water, running the gamut from inexpensive safeguards to high-dollar professional remedies. Here’s all the information you need to choose the best solution for your basement.

EXTERIOR REMEDIES
The most effective way to waterproof a basement is from the outside. Doing so, however, involves excavating the soil away from the exterior of the foundation on all sides and installing drain tile (a flexible perforated pipe covered with mesh or fabric) at the base of the foundation.


6 Telltale Signs Your New House Is a Money Pit

Fixer uppers can get expensive.

If buying a fixer-upper is your next big money move, make sure you’re not settling for something that’s going to cost you much more than you planned. Buying a house in need of repair can mean ample savings in the short term but a potential significant investment in the long term.

If you don’t know how much it’s going to cost to fund all of those renovations, you might be diving right into a money pit. Ideally, your budget for repairs and renovations should have 10 percent to 20 percent tacked on for unforeseen problems. Run into these problems, though, and your budget could go well over that. Here are six signs you’re moving into a money pit.

2. Water in the Basement

If tornadoes, hurricanes and torrential rains are a frequent occurrence in the area, make sure the basement and home are protected from the elements.

“Just know that if your home has a basement and there’s been flooding before, the chances of recurring flooding issues are high unless you hire a professional to come out and ‘waterproof’ the basement, which can be extremely costly,” said Stephanie Sullivan of Dream Town Realty Brokerage.

Any puddles of water or small pools of water in the basement are a sign the basement might not have proper sealants or a fully functional interior water drainage system. According to the latest HomeAdvisor cost profiles, you’ll be looking at spending an average of $3,816 to waterproof the basement. But, your bill could reach $9,135 or more depending on the amount of work that needs to be done.


 

Home Repair And Basement Waterproofing

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As you make a list of projects to do in your home, there are many projects that are probably purely personal.  Men want a personal spot for them to relax, and women usually want projects that will make the home look prettier and organized.  But depending on the region you live in, projects done to your home may not return the investment invested doing them, and if selling the home, the projects may help you sell the house, but you won’t recuperate the money you put into it.  Basement waterproofing and installing a new roof are probably less glamorous than anything you may think on doing, but those projects are vital to the health of your home.  Read more about home repairs and upgrades that can help you have a better home.


The Top 5 Basement Waterproofing Tips of the Household

Waterproofing your basement is all about minimizing, if not totally preventing, the entry of water from the outside environment. This can then be enhanced further by the application of interior basement waterproofing technologies.

The basement is the strongest part of any home. However, it is also one of the most often neglected parts.

It is prone to water damage primarily because of its proximity to ground water. When the rainy season comes, the basement often receives the brunt of water damage. Before your basement get severely undermined by water damage, you need to make it waterproof. Here are the top 5 basement waterproofing tips for the household.

1.       Check Your House’s Plumbing Network. – Even before you buy and apply waterproofing products, it is important to make sure that you don’t have any plumbing fixture that is leaking or is already damaged or worn out. Sometimes, you don’t need the rain to flood your basement. A faulty or broken pipe or plumbing can have the same effect. If you are not sure what to look for, having a professional plumber and basement waterproofing experts check it out first is always a good idea.


17 Simple Home Repairs and Upgrades That Will Save You Bundles of Money

Homeowners fantasize about making fabulous changes to their homes: adding rooms, beautifying the grounds, and remodeling kitchens and baths. In reality, however, these dream projects may not be financially possible.

Don’t let that stop you, however, from taking good care of the home you have. By keeping up with small repairs you’ll not only save money by heading off the big expensive fixes, you’ll also maintain your home’s resale value.

Here are 17 small jobs you can do to hold down household costs:

1. Change HVAC filters

Your furnace and air conditioner filters trap airborne allergens and dust so you breathe clean air. These filters need changing every few months while you’re using the furnace or air conditioning. The reason: Tiny particles of dirt pulled into the system from the air can hurt your furnace’s heating coil and fan. Changing filters regularly also can lower utility bills by as much as $100 a year, since dirty filters force HVAC systems to run harder and use more energy.


Making Home Repairs to Sell your Home

When selling your home, you often need to first do perform some repairs and maintenance. Some of these you can do yourself if you have the time but many need special tools that repairmen tend to have in their toolboxes. Also, many people just can’t find the time to make repairs.According to Angie’s List, hiring a handyman can prevent waste and overcharging, as the handyman will only charge you for hours worked. Plus they keep their rates low with low overhead and by not having to pay other workers.

Handyman Work

Most handyman work is relatively simple. It can be simple carpentry work or painting. It doesn’t typically involve major construction or expansion of the home. When you think you’re going to more extensive work, you should consider a contractor. Contractors supervise specialized tradespeople such as plumbers, electricians, and craftsmen. Contractors can put together a teal to expand your house or make major remodeling changes.

Before you hire a handyman or a contractor, make a list of the jobs you need done. If your list is composed mostly of repairs and some updating like painting, a handyman should suit your needs.

Deciding On the Best Repair Person

  • Get recommendations from family, friends, or your real estate professional. She or he may know an individual or company that specializes in “make-ready,” a room-by-room clean-up, touch-up and fix-up. You can also contact sites such as HomeAdvisor or Angie’s List, to hire workmen.