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Trish

A Checklist for Furnishing Your Dream Home on a Budget

June 21, 2022

When furnishing your dream home, it is important to think about what style you want to go for. Do you want a modern look with sleek lines and minimalist furniture? Or maybe a more traditional style with lots of character and ornate details? No matter what your style, there are plenty of options to choose from when it comes to furniture, but how do you avoid overspending? With a little patience and effort, you can easily furnish your dream home on a budget. Keep reading for more tips.

Set a Base Budget

Setting a budget for furnishing your home can seem daunting, but with careful planning and some creativity, it can be done without breaking the bank. The first step is to come up with a realistic estimate of how much money you have to spend. Subtract any major expenses that you know are coming up in the near future, like moving costs or a new car purchase, from your total savings. This will give you a rough idea of how much money you have available to spend on furniture and decor. Pro tip: If you’re looking for a way to purchase fine furniture but don’t want to pay for it upfront, a buy now pay later plan may be a good option for you. These plans let you pay for your purchase in installments rather than all at once. This can be a great option for people who are on a budget, as it spreads out the cost of the purchase over time.

Create a List of Must-Haves and Wants

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Once you have an idea of your budget, start by creating a list of must-haves and wants. Be realistic about what you can afford and focus on items that are essential for making your home feel like yours. If there are certain pieces that you really want, but they’re out of your price range, consider finding cheaper alternatives, using afterpay, or waiting until you have more money saved up.

Go Shopping

Shopping for furniture on a budget can be a challenge, but it’s not impossible. Here are a few tips to help you find great furniture pieces that won’t break the bank:

  • Shop clearance and sale sections. Many furniture stores have a clearance or sale section where you can find discounted furniture pieces. Keep an eye out for furniture that’s been discontinued or is being sold at a discount because it’s been slightly damaged.
  • Shop online. Online retailers often have better prices than brick-and-mortar stores. Shop around and compare prices to find the best deals.
  • Buy used furniture. Secondhand furniture can be a great way to save money. You can find used furniture at garage sales, online auction websites, or through classified ads. Just be sure to inspect the furniture thoroughly before buying to make sure there are no hidden damages.

Be Creative

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One way to furnish your home on a budget is by being creative with furniture placement. By using space wisely, you can create the illusion of having square footage and make your home look and feel more spacious. First, think outside the box. Don’t be afraid to place furniture in unconventional spaces. For example, instead of placing a couch against the wall, try placing it in the middle of the room to create a conversational area. Second, use mirrors to create the illusion of depth. Mirrors can be used to reflect light and make a small space seem bigger. Finally, create zones. Furniture can be used to create separate areas within a room for different activities, such as sleeping, eating, working, etc. You can furnish a home on a budget without compromising on style.

Filed Under: Home & Garden

How To Support Women’s Health: Everything You Need To Know

June 17, 2022

If you want to learn more about women’s health and the different stages in life that can affect it, then take a look at the following post. We’ll be exploring different areas of women’s health and how different biological and life events can affect the female body. Keep reading to find out more.

Supporting Women’s Health During Menstruation 

During menstruation, a women’s’ body experiences a fluctuation in hormones, temperature, and levels of nutrients in the body. Due to the body losing blood during this time, it’s important to make sure you’re topping up on nutrients and energy to support your body’s functions and energy levels. Eating foods high in nutrients such as fruit, green leafy vegetables, chicken, and dark chocolate are all good ways to help support your body. These foods help to boost levels of nutrition such as magnesium found in dark chocolate which can help to reduce the intensity of pain and cramping. Leafy greens help to replace levels of iron lost in the blood and oily fish such as salmon provide Omega-3. You should also try and up your intake of water during menstruation due to the volume of blood being lost which can lead to dehydration.

Supporting Women’s Health Through Pregnancy

Pregnancy places a lot of strain on the female body both physically and mentally. Whilst pregnant it’s important to make sure you’re supporting your health and wellbeing. This is especially true during the first trimester when it can be difficult to consume enough food to provide the nutrients needed. The growing fetus during the first trimester will drain a lot of the energy away from the mother as the placenta does not form and take over providing progesterone until around 8-12 weeks. Many women find that they start to see an improvement in their symptoms around this time and a reduction in unpleasant side effects such as vomiting, nausea, fatigue, and dizziness. To help support your body’s nutritional needs, you need to be taking pregnancy supplements that will help to provide you with essential vitamins and minerals for both you and your growing baby. The most important nutrients you need during pregnancy include:

  • Folic acid
  • Vitamin D
  • Iron
  • Calcium
  • Zinc
  • Iodine

It’s also important for women to focus on their mental health during pregnancy and postpartum, as hormonal changes can lead to increased chances of developing depression and anxiety. Magnesium is important for helping to support mental health and improving your sleep which can be a contributing factor to low moods and low energy. Speak with your doctor about taking magnesium supplements as they will be able to advise on the correct dosage for you during pregnancy. Finding the time to relax, socialize with friends, and spend time outdoors are also important for your mental health during pregnancy.

Supporting Women’s Health Through Breastfeeding 

The need to support your health doesn’t stop once you have had your baby, if you’re breastfeeding you also need to make sure you’re getting the support and nutrients you need during this time too. The nutrients you will need to remain similar to those you need during pregnancy. Many women find that during this time they can get more hungry than usual, and it is recommended that breastfeeding women increase their calorie intake slightly to help keep up milk production. Vitamin D is particularly important during this time, as well as calcium and iodine. Increasing carbohydrate intake can also be helpful to sustain the mother’s energy and milk production. The vitamins you take into your body will also be passed on to your baby in your breast milk, so it is important for them as well.

Supporting Women’s Health Through Menopause 

During menopause, a women’s body goes through a huge psychological, hormonal, and physical shift. Common symptoms of menopause include changes in behavior, low mood, hot flushes, weakened bones, weight gain, and low energy. During this time, it’s important to make sure you’re supporting your body to allow it to recover from the side effects of menopause. Meritene proactive is designed to help support the female body during menopause, with benefits such as supporting bone strength to reduce the risk of developing osteoporosis. It can also be a good idea to increase exercise levels and eat a cleaner diet too if you struggle with weight gain as it can lead to developing conditions such as type 2 diabetes and heart problems. If you’re experiencing severe emotional mood swings, hot flushes, or brain fog, then you can also consider hormone replacement therapy. Hormone replacement therapy is designed to help reduce the severe symptoms associated with menopause and perimenopause due to a drastic decline in hormones such as estrogen and progesterone. Speak to your doctor about trying hormone replacement therapy if you feel it would benefit you in dealing with the symptoms of menopause or perimenopause.

Filed Under: Blog

Top reasons why you should install a water tank

June 17, 2022

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A water storage tank is always necessary, whether at home or workspace. You face various climatic conditions, and there is still a scarcity of water in some areas. However, you must always have an uninterrupted water supply at your workplace. This is why a commercial water storage tank for daily use should be kept. As a result, a water storage tank is a must-have for every property, whether urban or rural, to store water for daily use. Having a water tank is the ideal choice to keep water for long days, which will help you store more water. Here you can see the reasons why you should install a water tank:

Save money on water bills

Water consumption at home and work can be limitless and costly. Installing a slimline water tank can help you save a lot of money, especially if you use rainwater. Storing rainwater and keeping it clean and safe for the people who use it daily can significantly reduce your costs while saving them safe and healthy.

Save water

Every day, people use a lot of water doing housework, from the washing machine to the dishwasher and the toilet to the kitchen, from gardening to car washing, and so on. Every time uses an electric modern home appliance, it requires fresh water. As a result, it ends up paying a high price for energy consumption. These can be reduced by using rainwater collected in water tanks.

Choose different size

There are numerous sizes, types, and applications available. Slimline water tanks are available in both above-ground and underground configurations. If you have a unique tank requirement, there are almost certainly slimline water tanks for you. However, you should double-check that your underground tank can handle the pressure of being buried in your property’s specific soil conditions.

Chance the environment

Water conservation is essential for environmental preservation. Check for leaks, replace old appliances like washing machines, and go green by adding more plants and trees to your garden. Install a water storage tank, and save as much water as possible. Let’s work together to keep the planet clean and green.

Emergency water

Water storage tanks are a better option for your home. These specialty tanks are available in various shapes and sizes, allowing you to find one that meets your specific requirements. The best ones are built to hold water while avoiding chemical contamination. They are also simple to refill, and you can even set up these water storage tanks to collect and filter rainwater to replenish your supply automatically. Water and grid power is the first public resource to be shut down in any widespread disaster. You can live without electricity for a short time, but not very long. That means starting to store water in your home is a great idea. It is your most valuable survival resource.

Final thoughts

Having a water tank in your home is the perfect solution for storing water. If you use the slimline water tank to keep your water, it will help you to store more water. Thus the above listed are the reasons why you should install a water tank.

Filed Under: Home & Garden

What makes a boat a yacht?

June 16, 2022

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Getting a yacht is a dream of most people who dream about luxurious vacations. As you go through yachts available for sale, you will come across the need to understand “what makes a boat a yacht”. Based on this, you can decide whether you can buy a boat and then convert it into a yacht or not.

What makes a boat a yacht?

As the very first thing, you need to understand that boats are not yachts. There are many differences that you can find between them.

Size is one of the biggest factors that differentiate a boat from a yacht. Yacht Rental Tampa can help you differentiating these. However, it is also important to keep in mind that there isn’t an official point, which would convert a boat into a yacht. In general, you can consider vessels that are above 40 feet in length to be yachts. However, you will still be able to find yachts that are under 40 feet in length.

The biggest yachts that you can find out there are called mega yachts. In case you have a large boat, you may think about calling it a yacht as well.

Length alone is not a factor that you should use to differentiate boats from yachts. Yachts are capable of offering more luxurious experiences when compared to boats. For example, you will be able to find a large number of luxurious amenities inside a yacht. On the other hand, you will also be able to find multiple entertainment features on a yacht as well. You will not usually be able to get such a luxurious experience on a boat. You may prepare a checklist of amenities for this.

Are yachts similar to luxurious boats?

When you compare yachts with luxurious boats, you will be able to notice some similarities between them. That’s because luxurious boats come along with some luxurious amenities. There are luxurious boats that offer gorgeous-looking interior cabins. They also have luxurious features, such as a hanging closer, a private master stateroom, and hidden storage space. You will be able to get both enjoyment and comfort on the ride. On the other hand, there is a rich entertainment system available in these boats. You may even call a luxurious boat a yacht, and nobody would really argue with you on that.

What should you buy?

Purchasing a yacht is not something that everyone can do. That’s because yachts are quite expensive. Even if you want to buy a used smaller yacht, you will have to spend around $300,000 out of your pocket. However, the story is completely different for a boat. That’s because boats are available for your purchase at cheaper price tags. There is no need to spend a fortune to get a boat.

We can see how some people purchase boats and upgrade them into yachts. No matter what, the amount of money that you spend to purchase a yacht is totally worth it. Therefore, we strongly encourage you to go ahead with the idea of getting a yacht, without having to worry about anything else. Then you will be able to experience numerous benefits that come on your way.

 

Filed Under: Travel

A choice for outside decking

June 15, 2022

Have you been searching for outside decking? With so many decisions open, property holders can without a very remarkable stretch become overpowered as they endeavor to isolate between things. There is more to figure out about different kinds of external decking boards. As the outside decking industry has made it this way, makers have introduced a ton of decking material options. Property holders used to pick between such wood decking. Since decking with designed trimmings entered the mix, buyers ought to investigate through many decking brands and things that shift in creation.

 

We research the three essential kinds of decking boards materials: wood decking, composite decking, and engineered decking. While the features and unequivocal components of each deck board change, most outside decking decisions fall into these three classes. These decisions of material provide you with a thought of how you basically can manage your decking. Fundamental data on the difference between wood decking, composite decking, and engineered decking will help you with sorting out your decking decisions.

Wood Decking

Wood decking comes in various assortments in view of the types of wood and its degree of synthetic treatment. A couple of normal wood decking types incorporate tension treated, cedar, and tropical hardwoods. Pressure-treated wood decking has been injected with substance additives to improve its life span. Wood decking like cedar and tropical hardwoods bars the synthetic additives. Mortgage holders ought to research and look at the normal exhibition and life span of various wood decking materials to figure out which best suits their undertaking and financial plan. You can also use garden decking.

 

Composite Decking

Covered composite decking offers more noteworthy protection from the components as the defensive skin helps get dampness far from the wood filaments in the center of the board. Albeit covered composite decking gives preferable solidness over uncapped composite decking, purchasers should consider the number of sides of the board the cap that covers. “Three-sided” covered composite decking allows the underside of the board to stay uncovered. Whether or not composite decking comes covered or uncapped, it contains wood strands subject to the normal debasement of wood.

 

Engineered Decking

 

Mortgage holders frequently select engineered decking for an absolutely without wood choice. Waterproof engineered decking demonstrates a particularly well known decision for marine development and different activities subject to steady openness to water, for example, pool decks. Like composite decking, some engineered decking materials accompany a “cap.” Manufactured decking as of now can’t retain dampness. The cap typically gives extra scratch obstruction.

 

Filed Under: Home & Garden

4 Inexpensive Things to Do with Your Kid During the Summer

June 15, 2022

When it’s summer, the last thing kids want to do is stay stuck inside. You may think that all the most exciting activities require a lot of money, but this isn’t true. You can still give your child an exciting summer adventure with very little money. Read on to find out how.

Go Camping

If you have a tent, you and your child could go and camp outside. It doesn’t have to be anywhere far and it can be for a single night. While the proximity to home may make this seem like less of a trip, this isn’t the case for your child. Children love new experiences. Something as simple as sleeping in the backyard in a tent can be very exciting.

Go Swimming

Swimming and summer go together like butter on toast. Go to your local public pool and relax by the water. This could be a great opportunity to teach your child how to swim.

Movie Nights

Build a fort and have a movie marathon night. Get some snacks and embark on adventure after adventure as you watch your favorite stories. If your child is older, you can start introducing them to the classic movies you like and discussing them. It’s a great way to bond with them and hear their own opinions on things.

Go Star Gazing

If you have a telescope, go stargazing and learn about the stars with your child. This can be a very educational activity that can introduce your kid to the wonders of science.

If you don’t have a telescope, you may not need it. If you can, drive out of the city to where the night sky is a little clearer. Bring snacks and star gaze from the comfort of your car.

Go to Chuck E. Cheese

A trip to Chuck E. Cheese always guaranteed fun. Because it’s summer, there will probably be a lot of people at your local Chuck E. Cheese. If you want your child to socialize more, then this is a good thing. If you don’t like crowds, go in the morning when there’s less people.

If you have a Chuck E. Cheese coupons, you can go to Chuck E. Cheese all summer long without hurting your wallet.

Use coupon codes to pay less for food or games. Join the free membership reward program to earn gift cards and free tickets. Check Slickdeals every now and again to see if there are any available holiday sales and discounts.

Chuck E. Cheese also has an incredible military discount for families that serve. For more information about deals and promos, go to the contact us page on the Chuck E. Cheese website.

 

Filed Under: Family

Tips to Rent Apartment – How to Find a Good Tenant?

June 15, 2022

The best tips to rent an apartment include checking out a unit in person and knowing your budget. Also, make sure you check the neighborhood and get a rental reference letter. Once you are sure of the right place, you can then negotiate the price. After you’ve found a place you like, make sure to make a rental contract that includes a stamp and protects both you and the landlord. Finally, location is a big deal. Make sure to choose an apartment in a neighborhood that is near your work and your favorite hangouts.

Getting a rental reference letter

Getting a rental reference letter for the best apartment for rent is important for many reasons. First, it helps to have a reference letter from someone who has lived in your current rental unit. A good landlord or property manager will be more likely to offer a letter if they know you well. References are important, especially when you’re moving to a new neighborhood. In addition to proving your creditworthiness, the letter should also highlight your reliability and responsibility.

Finding a good landlord

As a landlord, your job is to select the best possible tenants. It can be challenging to weed out bad tenants from good ones. However, you can follow some basic guidelines that will make the process easier. Read on to find out the most important aspects of a good tenant and avoid the common mistakes landlords make. A good tenant pays rent on time, is clean and responsible, and has a clean rental history.

Checking the neighborhood

If you are planning on renting an apartment for yourself, you should check out the surrounding area. This includes checking the area’s crime rate. While apartment complexes that have security gates are generally safer, it is best to check out the neighborhood itself. The average length of stay in the neighborhood will give you an idea of the safety of the area. If the apartment complex has many vacant units, this should raise red flags.

Getting a security deposit back

If you’ve just moved out of an apartment you’ve just rented, you’re probably wondering whether you’ll be able to get your security deposit back. Landlords and management companies typically charge a security deposit to rent an apartment, which is added to the monthly rent. While the rules vary between states, tenants should expect some of their deposit back after they move out. Below are some tips to increase your chances of receiving your security deposit back.

Getting utilities included

When renting an apartment, if utilities are not included in the rent, tenants can ask for them to be included, but the rates are typically higher than they would be for a normal unit. Some landlords inflate the average cost of utilities for buildings, so it is important to ask the property manager about these rates. Also, some utilities may not have connections for a washer and dryer, so tenants should ask if they have control over the heating and cooling.

Avoiding renting a place sight unseen

While the COVID-19 reality often forces renters to rent a place sight unseen, you can minimize the risks of renting a place sight unseen by doing some research and contacting a reputable property management company. It should also provide you with all the resources you need to make the rental process as pleasant as possible. In addition to the tips and advice below, you should read the lease documents thoroughly.

Finding a no-fee rental

While you’re looking for an apartment, it may seem like an impossible task to find a no-fee rental. You should remember that no-fee rentals are often listed by owners and don’t require a broker’s fee. They are cheaper upfront than broker fees, but they may come with some negatives. If you want to avoid paying a broker’s fee, learn how to look for no-fee rentals.

 

Filed Under: Home & Garden

Make Sure the Full Apartment is in Good Condition before Renting

June 15, 2022

Among the many things, you must check when renting an apartment is the general condition. While you are at it, make sure to check for structural problems, such as water leakage around the windows. Look for paint issues, too. Make sure that the paint color is consistent and feels professional. In addition, you should inspect the ceiling and make sure that every plug works properly. In addition, make sure that the place does not smell, and that the covers of the lights and plugs are in good condition.

Inspection checklist

When it comes to inspecting the apartment before you rent it, you need to take note of the basic features. Start by checking the wall switches. Also, make note of any abnormal lights and odors. Lastly, you should check the overall condition of the apartment. Make sure that the apartment is safe to live in, from electrical wires to paint. Checking all of these features will make it easier for you to decide if you want to rent the apartment or not.

The inspection checklist must include areas that are easy to access, such as under the sinks. It should also include smoke detectors and furnace filters. Look for obvious signs of damage or wear and tear. Also, it must be checked to make sure that the apartment is being used properly. Keep in mind that landlords cannot look through the tenant’s belongings and personal property without the tenant’s permission. Doing so would violate the tenant’s rights.

Smoke detectors

Smoke detectors are required by law in most apartments. They should be installed in every bedroom and sleeping area. In California, landlords may assess a health and safety violation if they are not working or are not present in the apartment. If the landlord decides to charge a tenant for a fire, the smoke detectors may be disregarded, and the tenant could lose their rental license. State laws differ in the requirements for smoke detectors.

Before signing any lease, tenants should make sure the smoke alarms are in working order. A landlord can’t make tenants check them themselves, but he or she should include a clause requiring smoke detectors to be tested at least once a year. If the alarms do not function properly, tenants are responsible for notifying the landlord immediately. The landlord can’t force the tenant to perform smoke alarm testing, but they can explain the importance of checking the alarms.

Insurance

Before you rent an apartment with insurance, you should carefully inspect it. This is because it’s important to know exactly what your lease will cover. Also, it’s essential that you understand who’s responsible for what. You’ll need to make sure that the apartment is insured if you’re taking apartment renting in San Diego from an owner, as they often have strict rules about insurance. The insurance of the landlord or building might cover some things, but it may not. In any case, it’s still necessary to get separate insurance.

When you sign a lease, you’re allowed to perform a walk-through of the apartment before moving in. This step is vital as it helps you identify problems before you move in. An inspection is essential to get your deposit back in full if you move out. The insurance will also help you in case of an emergency. If the landlord fails to do this, you can also seek legal action against him in Small Claims Court. If you’re concerned about the safety of your belongings, you can use a walk-through of the apartment.

Documentation

Before moving into your new rental apartment, you should thoroughly check the property. This will help avoid disputes with the landlord and make the unit safer. Before you move in, make a list of issues with the unit. In addition to checking the condition of the appliances and windows, you should also check for missing items and excessive wear and tear. You may also want to include any damages you notice in the form. For example, you might notice missing broiler pans or ice cube trays. Or, you might notice damage to the furniture or floor.

Before moving in, tenants must inspect the apartment thoroughly before signing the lease. Landlords must provide a written inspection report listing any damages or defects in the apartment before you move in. The report will help the landlord and tenant identify damages that occurred during the previous tenants’ stay. This inspection report will help protect both parties in the event of a dispute over repairs. You should also ask for a copy of the lease before signing it.

 

Filed Under: Home & Garden

5 Best DIY Pool Repair Tips

June 15, 2022

An adequately built swimming pool can last a long time. On the other hand, Swimming pools are notorious for requiring moderate or extensive maintenance regularly. If your pool cover is fading, cracking, or chipping, you’ve made the correct decision. This pool blog post will help you understand what kinds of pool problems you can quickly fix and how to do so. You’ll also realize which upgrades and swimming pool renovations should be left to the professionals.

Find the Damage

Before you can repair a leak, you must first locate it. It can be difficult to tell whether a drop in the pool’s water level results from a leak or normal evaporation. You can hire a professional leak detector to make the diagnosis but first perform a “bucket test” on your own. Fill a bucket three-quarters full of water, mark the water line on the inside of the bucket; also draw the water line on the pool wall.

Allow the bucket to float in the pool for two or three days, with the handle removed for added stability. If the water loss is due to evaporation, the water level in both the bucket and the pool will have decreased by the same amount; if the loss is due to a leak, the pool level will have dropped more than the water in the bucket.

Vinyl Swimming Pool Liners Repair

A high pool can completely collapse if the vinyl lining breaks. If your previous vinyl pool sustains damage, remove the water as soon as possible, at least until the damage is no longer visible. To be safe, you should empty it. If you have an accident, duct tape is a quick fix. Apply duct tape to the hole as soon as possible and thoroughly rub it in.

It won’t last long, but it will give you some breathing room while you figure out which. A patch kit can be used to repair a hole that is three inches or less in length. Anything beyond that puts your future at risk. A vinyl pool repair service is similar to changing a bike tire. If you’re unsure how to proceed, seek professional assistance in your area.

While large tears in a vinyl pool liner necessitate the installation of an entirely new liner, small tears measuring 3 inches or less can be successfully repaired. Rough up the area with sandpaper to start the process. Then, coat it with solvent cement and apply it to the back of the patch as well. When the solvent cement has dried and become tacky, cut the patch to cover at least 3 inches on all sides of the tear.

Repair Pool Concrete Structure Cracks

Whether or not you leak, it’s a good idea to repair any holes in your pool’s cover. Tiny holes in the cement are usually not a cause for concern because the pool’s land will naturally hold up once it is built. If the hole is more than two feet long and about a half-inch wide, it can be easily repaired. Anything else, such as performing an immediate solution, may result in more severe issues in the future. If this occurs, you may require pool leak repair.

A small crack in a concrete pool wall can sometimes be repaired. However, if the damage is longer than 2 feet, it may indicate structural issues that cannot be fixed simply by patching. Drain the pool to below the crack level to repair a small crack properly. Widen the crack with a chisel or other tool to provide a new edge for the patching material to adhere to. After the damage has been slightly widened, dampen the concrete and work a patching compound containing Portland cement into the crack. Smooth the edges with a mason’s trowel after that.

A bulge in the side of a vinyl-lined pool may indicate severe drainage or structural issues that will necessitate excavation and possibly pool replacement. If the bulge is enormous–more than 2 feet in diameter–call the installer immediately and refrain from swimming in the pool until it has been checked.

Repair of Fiberglass Swimming Pools Fiberglass

These swimming pools are generally a good investment; however, they must be recoated regularly to maintain their quality. Simple pool restorations can always be performed if the surface gel coat is damaged or cracked. A full recoating is a time-consuming procedure that follows a similar pattern. Before applying the coating, the pool must be adequately smoothed and polished.

Repair of Plaster Coating

Pool crack repairs can sometimes affect the plaster layer on the upper surface rather than the material itself. The plaster layer would deteriorate over time, resulting in a bumpy, unpleasant-to-touch texture. It is not uncommon for minor fractures and holes in plaster to be repaired. Your pool’s current plaster coating will be replaced sooner or later, perhaps in 7-10 years.

 

Filed Under: Home & Garden

Owner-Financed Loans: What You Need to Know

June 15, 2022

Want to buy a house but don’t qualify for a traditional mortgage? You might want to consider owner financing. Owner-financed homes are uncommon, but they have some advantages for specific buyer and seller situations. When the seller acts as the lender, owner financing avoids the need for a traditional mortgage, but there are some risks. Let’s look at how owner financing works and when it might make sense.

What’s Owner Financing Loan

Owner financing, also known as seller financing, is a transaction in which the property owner acts as a lender by financing the buyer’s purchase. This type of financing avoids traditional mortgages by allowing the seller to extend credit to the buyer to purchase a home. It is common to hire real estate professionals or lawyers to delve deeper into the specifics of using a home contractor in owner financing.

Buyers’ payments are usually amortized over 30 years for a lower monthly price. Still, a large balloon payment is frequently at the end of a shorter period (usually one to seven years). Owner-financed loans are based on the assumption that the buyer’s finances will improve over time or that the property will appreciate to the point where the buyer will be able to obtain a home loan from a traditional lender.

Owner financing options

There are numerous types of owner financing. Each has its own set of advantages and disadvantages:

Second mortgage

If a homebuyer cannot induce a conventional mortgage for the real damage to the house, the seller may offer the client a mortgage to make up the difference. The mortgage is commonly for a shorter term and at a much better charge per unit than the first mortgage obtained from the lender. With a shorter period, you would like to be able to pay it off when the time comes; otherwise, you will be forced to refinance.

Lease-purchase

A lease-purchase agreement requires the homebuyer to rent the property from the owner for a specified period. At the end of that period, the buyer has the option to purchase the home at a predetermined price. Typically, the buyer must make an initial deposit before moving in and forfeit the guarantee if they do not buy the house. If you are the buyer in this situation, negotiate the option price and make it subject to financing, clear title, and other contingencies, just as you would if you were purchasing a home the traditional way.

Wraparound mortgage

Wraparound financing is available to home sellers who still owe money on their homes. In this case, the owner agrees to sell the house to the buyer for a down payment and monthly loan payments to the owner. The fees are used to pay down the seller’s existing mortgage. Frequently, the buyer pays a higher interest rate than the seller’s existing mortgage. The risk is that you will lose the home if the seller defaults on the underlying loan. It is critical to have an experienced attorney on your side for this arrangement.

Land contract

The homebuyer makes agreed-upon payments to the seller in a land contract agreement. The buyer receives the deed to the property once the payment schedule is completed. Because a land contract typically does not involve a bank or mortgage lender, it can be a much faster way to secure home financing. However, there is a significant risk because many states allow sellers to foreclose if you miss a payment.

How Does Owner Financed Loans Work

The buyer and seller agree on an interest rate for the financed portion and the loan’s monthly payment amount, schedule, and other terms. The buyer signs a promissory note with the seller agreeing to these terms. Because the promissory notice is generally recorded in public records, it protects both parties.

It makes no difference if the property already has a mortgage. However, the homeowner’s lender may accelerate the loan or call it immediately upon sale due to an alienation clause. The seller usually keeps the title to the house until the buyer has fully repaid the loan.

Advantages and Disadvantages of Owner Financing to Buyers

Pros

  • Terms can be flexible
  • The down payment is negotiable
  • Closing costs are lower
  • The closing process is moving more quickly
  • Qualifying may be much simpler

Cons

  • In exchange for financing, sellers can demand higher interest rates
  • If the seller has an existing mortgage with an alienation clause, the seller’s lender may foreclose
  • The loan term may be brief, culminating in a balloon payment

Pros and Cons of Owner Financing for Sellers

Pros

  • The monthly cash flow has been improved.
  • In exchange for financing, sellers can request a higher-than-usual interest rate.
  • Offering seller financing distinguishes them from other available inventory.
  • Sellers can demand the full list price.

Cons

  • The sale proceeds will almost certainly be taxed at ordinary income tax rates rather than capital gains rates, which can be lower.
  • If the buyer defaults on the financing, the seller will be forced to handle foreclosure proceedings.

 

Filed Under: Money

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