Five Designer Tips To Do First When Buying a New Home

 What are the first five things to update when buying a home?

1. Don't Seek Instant Perfection
2. Start With The Bones
3. Practice Patience
4. Know Yourself
5. Have A Plan Before You Start

Buying a new home is an exciting time for anyone. It is a big step in life's journey and can be a very stressful one. If you are purchasing a home, professionals agree that these tips should be followed from the start.

1. Don't Seek Instant Perfection

“One of my big beefs with home improvement shows is that they set new homebuyers up for failure,” Karlie Adams, a Denver interior designer said. “People watching these shows think everything comes together so easily, then feel they need to have perfection instantly, when, in fact, they need to take their time.”

2. Start With The Bones

Instead of starting with the little design elements in a room, start with the floors, walls and windows. Once these are tackled you can slowly move inward in the space. “That may not seem so gratifying at first,” Adams said, “but it’s more prudent. People would rather buy toss pillows at Pottery Barn when they really should replace their baseboards.”

3. Practice Patience

Like with everything in life, a little patience can go a long way. Take your time and go slowly purchasing quality pieces that will be more of a design investment in your home.

4. Know Yourself

Figure out who you are as a person and build your look around your unique characteristics. The look of your home should be based on who you are. If you are a nature lover, using worn leather, weathered wood and rustic finishes are best. A perfect coffee table would be a three cross-section of tree trunks.

5. Have A Plan Before You Start

Don't go into the kitchen and add a new sink and faucet to later realize you should have updated the whole kitchen. Have a plan in each space before you add anything. This will save you time and money in the long run. Remember your home is a big investment.

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Purchasing An Investment Property or Second Home

 A great way to invest in real estate is in either a second home or an investment property. This type of real estate is a sound and profitable way to build wealth and generate a passive income. Fixed mortgage rates keep mortgage payments the same each month, so investors can predict their cost and profit. There is a risk with investment properties, so consider these four tips to find out if you are ready to purchase an investment or a second home.

Be sure to do your research and get advice

Like any decision, you will want to do your research before making the decision to purchase. There are many factors you will need to consider such as the condition of the property, location, and the area's demand for rentals. Before you take a step, do your due diligence when it comes to your finances. You will want to make sure your income can support two mortgages even if you plan on renting your second investment. Also keep in mind that there will be additional expenses such as home repairs, maintenance, and furnishings.

Budget for the expected and the unexpected

Second properties have some expenses that are different than your primary home. If you purchase a second property either to sell for a profit or rent, many areas have permitting fees and additional taxes for investment properties. Remember to work with a tax preparer who will help you with capital gains or an increase in income.

Knowing when the time is right

Right now home prices are rising, so you may be able to use the equity on your primary home to pay for your second home. This can be done through a cash-out refinance or a home equity loan. A cash-out refinance is the most popular choice. There are no limitations on what you can use the money for. A home equity line of credit is secured by your primary home's collateral. Right now is a great time to take advantage of these types of financing with such low rates.

Understand how you plan to use the second home

Either way, you need to speak with a mortgage lender whether you a using the second property for rental income or a second residence. Lenders follow the guidelines of Fannie Mae and Freddie Mac to ensure that you are able to afford both mortgages. There are different terms you must meet to be approved for a mortgage on a second home.

If the property will be a renovation or resell you will more than likely have to pay a higher downpayment and interest rates. Lenders take more of a risk when they lend money to someone who is purchasing a second home or investment property. Do not plan on trying to obtain a VA or FHA because these two types of loans cannot be used on second properties.

Not only do you want to secure a lender, but also secure a Realtor to help you with your purchase. A realtor can navigate the purchase from searching for your second home to closing the deal.

 

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The National Green Building Standard and What I Can Do for Green Renovations on Historical Homes and Buildings

Historical homes are important to our housing market. Renovations on historical homes can be challenging because of surprise damage, regulations and preservation. Take this challenge and top it with making an older home green. This is where National Green Building Standard® (NGBS) comes in handy.

The National Green Building Standard® (NGBS) is a guide to certification for green homes. Chapter 11 in this guide is dedicated to the "Certification for Existing Buildings." Building professionals can use this guide for a comprehensive, voluntary, above-code approach to design and construct residential and mixed-use properties and for land development.  Builders are able to take this guide and use it as a "roadmap for green renovation projects" and match it with historical preservation regulations

Many builders are taking old historic buildings and turning them into residential properties. Things they need to consider are how many units will they include in their design and how much energy and water the proposed property will use versus how much the post-rehab used.

This can be a difficult task however with the NGBS these types of projects have more flexibility. Under the NGBS mandatory, historically designated buildings with historic designation restrictions are exempt from NGBS mandatory practices for unaltered portions. Cargill Falls Mill in Putnam, Connecticut is a great example.

Cargill Falls Mill is located on the Quinebaug River and is deemed a historical building. The property was turned into over nine acres of residential space with 125 units.

Karla Butterfield, NGBS Green Master Verifier, of Steven Winter Associates noted: “As a historically registered landmark, the complex was under strict renovation requirements. The NGBS remodeling program was the only residential tool that allowed the project to quantify the energy and water savings while addressing the great efforts made by the project team to reduce material and resource consumption, improve indoor air quality, address sustainable site strategies, and promote health and wellbeing for residents.”

Old buildings, especially in urban areas, are perfect projects to make into residential space. To learn more about the process visit the National Association of Home Builders site where NAHB’s Sustainability and Green Building efforts are explained. You can also find tips on water efficiency, energy efficiency, indoor air quality, and other building science strategies.

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St. Tammany Parish Homeowners & Businesses Receive Financial Relief

Good news for St. Tammany Parish homeowners and business owners is that they won’t have to “jump through hoops” in order to get their repair and renovation construction off the ground following the historic flood that hit Covington, Louisiana, inundating the city with water from 3

different river sources and shutting down roads and businesses for several days.  The City of Covington has waived the requirement for building permit fees under an ordinance approved by the City Council.

Mayor Mike Cooper said most of the floodwaters had receded by Tuesday and residents were in clean up mode.
“Things are moving,” Cooper said. “The city is doing what it can to help.”

With 100 total structures and counting being reported with flood damage, not only would the fees and requirements be cost prohibitive to the city, but they would hold up the restoration of people’s homes and businesses which would only cause the city to suffer because of the lack of production.

In order to assist homeowners with their repairs, the city is also requiring any contractor or builder working on a flood damaged home who applies for a permit to be a state licensed contractor.  This

should reduce the amount of fraud that happens when huge storms cause damage in the Greater New Orleans area.  Because state licensing requires proof of general liability insurance, homeowners can also breathe easy while the contractor or builder is working on their home.

The main culprits of the flooding were the Bogue Falaya and Little Tchefuncte Rivers in northern Covington.  One of the storm’s casualties was the Bogue Falaya Park in downtown Covington, which will be closed until further notice until the repairs to the wooden pavilion and playground equipment can be done.  St. Tammany Parish is applying for disaster relief for the storm that brought so much damage and it is the mayor of Covington’s hope that this funding will be made available to Covington’s residents who need it.  Parish-wide, so far it has been counted that 615 structures received flood damage in St. Tammany Parish.


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Trends That Are Showing Up in Remodeled or Newly Built New Homes

Whatever type of home construction you are planning – a new, custom home or a complete remodel / renovation of your existing home – you will want to pay attention to the trends that are showing up in remodeled or newly built new homes.  Below are several trends that are popular among contractors, builders, and homeowners.

1. Luxurious garden tubs or jetted garden tubs have held steady in home construction for years, but for 2016, the trend is shower stalls or walk-around showers with shelving and seating.  There are some really unique shower designs that include multiple shower heads and even massage sprays.

2. For your backsplash, trim, or even walls and floors, ceramic tile is not as popular now among renovators and builders as glass tile.  The glass tile comes in many different colors as well as designs with multiple colors, so choose your matching design and go crazy!

3.  When stepping up to the gourmet kitchen or luxurious master bath, granite countertops used to be the ultimate material that reflected the type of construction of your new home or remodel.  There is a new material that is called engineered quartz that is not only tougher than granite and lasts longer, but it has the same timeless, classic, and upscale design for your custom counter work.

4.  Toilets naturally came in lower to the floor sizes for decades, but now there are choices of toilet heights that are available to new home buyers, and buyers are choosing height over flow.  The new, higher toilets are also more water efficient and modern, saving some homeowners on utility bills.

5.  Along with ornate, custom-built, real wood cabinetry; home buyers and remodelers now have a choice of painted, stained, and dark wood cabinetry vs. the traditional oak cabinets that were standard for new home construction projects.  Choose and contrast these colors as well with a two-toned look in the kitchen or bathroom.

6.  Even though, we as a custom home builder still encourage you to buy reliable appliances throughout your home, the industry has caught up with technology, so some home buyers and home renovators are now going with a mid-range level of appliance vs. a high-end appliance package.  The appliances themselves seem to have the same duration of service, and you can also purchase upper end looking fixtures, such as stainless steel to achieve the look you want without all of the cost.

7.  Back to the basics – homeowner and savvy new home buyers know to renovate and build their homes with real wood flooring such as solid oak or pine instead of engineered flooring.  While the look and cost of an engineered floor is great for the first few years, the results after many years of wear and tear don’t stand the test of time, weather, and constant use.  Homeowners and new home buyers will be looking to find affordable real wood choices for their flooring.

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