Posted by Peggy Farber on 9/13/2017

 

Two thirds of American homeowners are somewhere in the process of paying off a mortgage. It may seem like common sense that everyone should try to pay off their mortgage sooner rather than later. However, there are circumstances when it benefits a homeowner more to hold onto their mortgage longer.


In this article, weíll offer some tips on paying off your mortgage, when you should refinance, and offer some tools that will help you along the long road to debt-free homeownership. If youíre a homeowner and find yourself asking these questions, read on.

I can afford to pay more each month on my mortgage, but should I?

In many cases, paying off your home as quickly as possible saves you money in the long run. A shorter loan term means less interest applied to your loan which could save you thousands of dollars in accrued interest.


What many people donít think about is whether that money could be better spent elsewhere. If your mortgage interest rate isnít too high, you might be better off allocating that extra income toward investments or retirement funds where they could earn you more in the long run.


This technique is typically most beneficial for younger homeowners. In your 20s and 30s you stand the most to gain from long-term investments, especially tax-benefitted retirement funds. Ultimately youíll have to do the math, which is tricky because circumstances change; markets vary, our income goes up and down, etc. However, a good starting place is to determine whether you could earn more in retirement and investments than you could by paying off your mortgage sooner and therefore saving on interest. 

Iíve owned my home for a few years now, should I refinance?

Refinancing is a term that has become ubiquitous for homeowners. There are a few important things to understand about refinancing. First, lowering your monthly payments is not always ideal if it means youíll end up paying more interest in the long run. Ideally, refinancing your mortgage will help you pay the least amount in total.

One way this can be accomplished is by refinancing to a 15-year fixed-rate mortgage which often darry slightly lower interest rates. This option is designed for people who have improved their credit and increased their income since signing their first mortgage.

Math isnít my strong suit. How can I figure out my finances?

If all of the numbers and percentages associated with mortgages and refinancing seems overwhelming--youíre not alone. Fortunately, there are mortgage and refinancing calculators that will give you a good idea of where you stand if you decide to increase your payments or to attempt to refinance your loan. Here are some great tools:
  • Use this mortgage calculator for determining how much you would save by making extra payments.

  • This refinance calculator will help you understand the potential benefits of refinancing your mortgage.

  • To determine how much you could earn through investments (rather than paying more toward your mortgage) use this helpful tool.

  • You might be able to increase your savings by creating a better budget for yourself. This website will help you make a detailed budget and hold yourself accountable each month.






Tags: Mortgage   home   refinancing   finance  
Categories: Uncategorized  


Posted by Peggy Farber on 5/24/2017

 

If youíve paid any attention to home and living catalogues over the years youíve probably noticed how quickly home decor trends come and go. Just like in the world of fashion, the people who manufacture homegoods do it with one idea in mind: to keep you coming back for more.


Thereís an important distinction to be made between a trend and a style. Youíve probably seen several homes that adhere to the styles of farmhouse, mid-century modern, industrial, and so on. However, within these styles there are several trends that flood magazines and houses each year. While everyone wants to keep their home up to date, itís important to keep a watchful eye out for homegoods that are just capitalizing on the latest trends.


In this article, weíll break down some home decor tips that will help you pick the homegoods that will look great year after year while also serving a useful function in your house. And, weíll help you avoid the trends that put a strain on your wallet each year.

Keep the big picture in mind


When browsing through the latest Crate & Barrel catalog, itís tempting to order items based on liking the way they look in the picture. However, itís important to remember how it would look in your own home. This is true for many items around the home, like houseplants. If you have a farmhouse-style home, decorating it with cacti or zen gardens might appear out of place and thus will be short-lived decorations.


Aside from the inside of your home, itís important to keep in mind the architectural style of your house. It would seem strange, for example, to enter a brownstone building in Brooklyn to find it filled with country style decorations. That isnít to say you need to always adhere exclusively to the architectural style of the building (some juxtapositions work well together and are a fun way to give your home some originality).

Good design sticks around


Appearance isnít everything. When it comes to things like furniture, appliances, and kitchenware youíll find that usefulness and ease of access is a key feature. Before buying one of these items, think about whether it serves a purpose, and if it serves that purpose better than your current item. Read reviews or ask friends and family about these items before purchasing them.

Stick to the classics


One of the latest trends to hit coffee shops around the country is the tall metal stool. Sometimes they have a backrest, sometimes they donít. They can be painted a neutral color or left metallic and unfinished.


While these stools may fit neatly into the modern, industrial look, they might not fit your particular needs. In some instances, itís better to stick to the tried-and-true furniture items for your home. If youíre placing the stools somewhere that people are going to sit often and for long periods of time, youíll want them to be comfortable. Donít sacrifice comfort in your own home just because something looks good.




Tags: Decor   home   house   interior design   homegoods   design  
Categories: Uncategorized  


Posted by Peggy Farber on 11/2/2016

American households are†busier than ever before. Parents are working overtime to keep up with the cost of living. Meanwhile, kids and teenagers have more homework than previous generations. Teens and parents alike are burdened with saving for college. And, everyone in today's world has to take the time out of their day to stay updated on social media. That doesn't leave much time in the day to hang around and relax with your family. If you--like many American families--wish you could spend more time together, it could be as simple as having a plan and making time on your schedule. This article will cover the steps to planning a weekly family night and how to stick to the plan once you start.

Step One: Scheduling

The hardest part of planning a family night is finding a time to have it. Each member of the family likely has sports, extracurricular activities, or other obligations that keep them tied up. Find one night of the week that works for everyone. To make sure nobody forgets, add it to your calendar and send invites to the whole family. You can do this via Facebook, Google Calendar, or just a note on the refrigerator--whatever works for your family's needs.†A good practice to make sure everyone remembers is to send out a group text message reminder to the whole family so that no one is left out.

Step Two: Make it fun for everyone

If your family nights aren't "fun for the whole family" you can be†assured that they won't last long. This can be hard in a family where kids†are at different ages and have different interests. Games that your two-year-old loves will seem boring to your teenager, and vice versa. One way to make sure everyone enjoys family night is to alternate who gets to pick the activities. Start off with your youngest child and work your way around to yourself, this way everyone gets a chance to have a night that they can especially look forward to.

Step Three: Choosing activities

There are endless fun family night activities. Depending on the ages of the members of your family, you might have to stick to things that are more kid-friendly.†You're also going to need to pick activities that are season and weather-appropriate. Here are some examples for family night activities that work for various ages and seasons:
  • Paint night - gather the colors, brushes, and paper you need, then watch a painting tutorial together
  • Game night - the most time-tested†family night activity is board games. Roll the dice to decide which games to play.
  • Video game night - multiplayer games that include everyone are the best option. But you could also take turns or have tournaments to play against each other.
  • Ice cream - in the summer, take the family out for ice cream and a walk.
  • Bake night - make enough types of cupcakes, cookies, and brownies to last the whole week.
  • Backyard camping - set up your tent, build a fire, make S'mores, identify stars and planets, tell ghost stories, and whatever other fun camping ideas you can think of.




Tags: home   kids   children   family   games   fun   house   planning  
Categories: Uncategorized