Found 14 blog entries tagged as Unexpected Costs.

when is it a good idea to use a home equity loan

What Is A Home Equity Loan?

A home equity loan is a type of loan that allows you to use the equity of your Santa Cruz home as collateral. It is an option that homeowners have available to them and that some people use to pay for major expenses such as home renovations, college education or medical bills.

These types of loans became popular in 1996 because they provided a way for consumers to circumvent their tax charges for that year, which eliminated the deductions on the interest for most consumer purchases.

Are Home Equity Loans A Good Idea?

It is a good idea to leverage your shelter for cash? What is a legitimate reason for taking out a home equity loan? It can be tempting to use the equity you have in your property to pay for…

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It’s almost time for the closing on the Santa Cruz home you’re buying and you can’t wait. You go to the property for the final walk-through inspection. You’re so busy thinking about where the furniture is going to go and what color you’ll paint the walls, you breeze right through the house.

It’s after closing and moving day has arrived. Your movers have already packed up your old house and are waiting for you to show up and unlock the door at your new Santa Cruz home. You enter the house only to find that the repair the sellers were supposed to make were not finished.

You may wonder if you have any recourse with the seller. Most likely not. Unfortunately, your last chance to object to the condition of the house passed at the final walk-through…

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If the temperature in your home is too hot at night, then you can’t sleep. If it’s too cold during the day, then you have to wear excessive layers. Everyone has his or her own idea of the ideal temperature, but to keep it on that perfect number can get expensive. So, below we’ve outlined five ways you can take care of your heating and cooling system and help it run more efficiently.

1. Set It And Forget It
To maximize the effectiveness of your heating and cooling systems, you need to program your thermostat and refrain from changing it. Adjusting the thermostat makes your system work harder. The best way to avoid tempting temperature changes is to choose a thermostat that fits your schedule, such as one with 7-day, 5-1-1, 5-2 or 1-week programming…

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When buying Santa Cruz real estate, you may find some unexpected problems. Generally, these issues revolve around plumbing, wiring or sticking doors and windows. Although they aren’t as expensive to fix as other issues, there’s always a possibility that they indicate bigger problems.

Sticking Doors/Windows

Spotting wear and tear on doors and windows is fairly easy. Check the hinges and locks. Squeaking hinges or locks that stick indicate wear on seals and metal.

Although sticking doors and windows aren’t a big deal in and of themselves, these issues can be indications of moderate to severe foundation problems. If you find these issues in Santa Cruz real estate, make your way to the basement and look for cracks or dips in the floors and walls. Pay…

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Having your home broken into is completely violating. Burglars don’t just steal your stuff; they steal your peace of mind. While this is the sort of thing you think will never happen to you, it’s worth the time and effort to make sure you’re not a target. Below are five strategies to help secure your home against a break-in.

1. Use Landscaping As A Barrier
Purposefully place plants in spots that create a natural barrier to your home. Plant thorny rose bushes in front of bedroom windows and remove overgrown shrubs that provide coverage for creepers. Also, trim back any tree branches that might make an open upstairs window accessible.

2. Put In A Security Alarm
While a loud alarm might not stop a burglar from quickly grabbing the large flat screen in…

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Paying for the mortgage isn’t the only expense that you will need to consider when you are buying a Santa Cruz home. There are many other costs that you will have to think about and these can come as a shock if you haven’t planned ahead for them. Some very enthusiastic first-time homeowners will gloss over these costs and later find out that their budget and paycheque is overwhelmed.

Here are a few of the costs that you should consider when you are becoming a homeowner for the first time.

Moving Costs

Once the home purchase is complete, you will have a whole new wave of additional costs concerned with moving into your new home. You might be able to ask your friends for a favor, but usually you will have to spend thousands on a moving company to…

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While we heard plenty about the negotiation battles leading up to the New Year’s looming fiscal cliff, after the fact, many people might not consider how passed legislation personally affects them — especially when it comes to Santa Cruz real estate.

If you haven’t filed your 2012 taxes yet, you might want to take a minute to review the tax limitations and credit extensions, which Congress passed through the HR 8 legislation. You’ll want to ensure you’re paying the right amount when it comes to coughing up your money to Uncle Sam.

Energy Updates
The tax credit for homeowners to receive a ten percent deduction, up to $500, for energy efficient improvements to homes is extended for 2013.

Estate Tax
Individual estates valued at up to five million…

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An older Santa Cruz home can offer a lot more charm and character than the newer houses of today. They boast gabled roofs, crown moldings, hardwood floors and antique fixtures. Buying an old house is like buying a piece of local history. Its beautiful period features can give it a timeless beauty and grace that is hard to resist.

However, sometimes buying a house from another era is an endeavor fraught with potential problems. Older houses are not necessarily built to the same electrical or plumbing standards of today. If they have not been maintained correctly through the years, they can turn into a serious money pit or a potential hazard.

Here are six tips that you should keep in mind if you are considering buying an older Santa Cruz home:
…

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You’ve got a contract on your Santa Cruz real estate and have a closing date set. Whether or not everything goes smoothly comes down to the home’s appraisal. Waiting to hear that all is well can be frustrating enough, but when the news is unfavorable, it might seem like the end of the world.

Just because your home receives poor marks doesn’t mean that you didn’t take care of it — it could be you received a bad Santa Cruz real estate appraisal. While most appraisers are completely competent at their jobs, some might be unfamiliar with an area or use inappropriate comparisons. Below are common appraisal problems of which you should be aware.

• Inconsistent appraisals – If the appraiser finds issues that don’t makes sense, like claiming the home needs…

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A home warranty is an insurance policy for a buyer who purchases a home that has older appliances. It is also for Santa Cruz home purchases where the buyer does not know the age of the appliances.

A typical home warranty plan will probably cover:
• air conditioning
• heating with ductwork
• electrical systems
• plumbing
• washers and dryers
• dishwashers
• ranges and ovens
• refrigerators
• water heaters

When is a home warranty a good deal?  It may be a good idea if:
• The appliances are near the end of their life expectancy
• You do not know the purchase date or age of the appliances

When is a home warranty not a good idea?
• If you are purchasing a new home, the builder most likely provides a warranty.  Check into that, as a separate warranty might not be…

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