You May Need To Upgrade Your Kitchen

Kitchen RemodelingYou may be trying to find a new home and the realtor takes you to look at a house that has three bedrooms, two baths and an open floor plan. Once you head into the house, it feels very spacious with nice hardwood floors. The windows pull in sufficient light and the dining room is fairly large. Then you walk into the kitchen and it is very out-of-date. The kitchen space has got vinyl flooring, olive green appliances and worn down counter tops. The subsequent room you go into is the large family room with a wonderful fireplace. And then over to the three bedrooms with a bathroom in the master and a full bath in between the other two bedrooms. You also have a decent size backyard.

You like the house a great deal but you have problems with the kitchen. It may well cost lots of money to have to upgrade the kitchen. The kitchen requires all new appliances, new floor surfaces, cupboards, and counter tops. It could possibly cost between $10,000 to $50,000 depending on the products that are used. It is said that a kitchen area can sell a house, so you decide to buy the house and remodel the kitchen.

You got the house and now you want to do the renovating. The first thing you look into will be the many selections of cupboards available. Some individuals really like dark wood and some like lighter wood. If you ever go to Home Depot or Lowe’s, you can probably find a variety of cupboards. You should remember the nature of doing any kind of business on the web. What is also interesting and curious is that one change with a large business can set off a cascading effect with other related businesses. If you are smart about how you go about your business, then you will understand the implications in terms of diversifying. Considering Kitchen Remodeling Specialist and other approaches, look at the big picture that includes both your business and the net environment. When you analyze anything new for possible inclusion in your marketing arsenal, you need to be completely objective.

Anything new to you that seems to be a candidate for your business is worth testing, at least that much. The retail outlet is going to also provide many types of flooring including vinyl, tile and wood and many samples of counter tops. The people who are employed in those stores can help you pick out colors, styles and textures. They know a great deal with regards to renovating homes in general. All these home improvement centers have got just about everything you can think of to spruce up your kitchen.

As soon as you determined what you want, the next step is to find a contractor. It is advisable to acquire one by word of mouth, from a person who has had their kitchen remodeled by them. At least, you could expect that the contractor is going to do quality work and at what price. The construction products stores can also be able to refer many good contractors that are reliable. Renovating your kitchen area will be a messy process but it will be done before you know it.

You have everything required and the contractor signed up so the kitchen can now be redesigned. The building contractor will rip out the cupboards and kitchen sink and take it away for you. Then the new cabinets that you opted for are installed. Next, they add in your stone counter top you picked. The new stainless sink will be installed. The gorgeous stainless refrigerator and stove are generally installed and also a stainless steel dishwasher. The next job the building contractor does is the floor tiling. Your beautiful and modern kitchen area is showcased having new lighting fixtures that you hand picked yourself. Your renovation is now finalized, and you’re able to look forward to cooking again in your beautiful new kitchen.

Interest Rates May be Moving up

As the U.S economy continues to stabilize and pull out of the mess that has ended up being the worst recession on record since the great depression, mortgage rates has gone to record lows. Bernanke, who runs the Federal Reserve, made a decision in 2008 to push interest rates as close to zero as possible. He did this to increase borrowing in the market place, to hopefully stimulate the economy.  The upside to that has been the ability to borrow money for real estate at essentially no interest. That is to say the interest you pay on your home is so close to the rate of inflation, you are getting a loan without any real cost. That is significant over the life of a 30 year mortgage and a huge savings to the owner. This is a once in a lifetime deal.

This can translate into real savings when buying a home. Take Denver, for example, where Denver Colorado homes average sales prices are up 19% over last year and have essentially erased the extreme drop in prices caused by the recession. Just a few short years ago many home owners who had recently purchased a home were underwater. Now with the market at break even they can sell without worrying about owing a bank at closing. Additionally, when buying a home with interest rates so low, a home owner can buy much more house without paying more. It’s like shopping after Christmas and getting everything at close out prices. But, that is about to change.

As the economy heats up, so does inflation. It’s simple economics, more dollars chasing fewer goods means things start to cost more. If you pay attention to gasoline prices you see this on a daily basis. What drives gas up and down is demand. If it weakens the price falls, if it strengthens, they go up. The Federal Reserve has committed to keep rates at 0% through the end of the year, but as inflation starts to move upwards, they will try to choke it off by raising interest rates. That likely will happen in 2014 at some point. So if you are considering a home purchase, now is the time to start looking.

Real Estate Market has stabilized

Unless you have lived in a cave, in which case you may be in the market for a new home, you have heard the news…real estate prices have finally bottomed out. It took a few years and a breath taking 35% decline on average across the country for us to find the bottom. But, it appears to be here in earnest, except for a few areas where prices were so over valued ( think Reno, Atlanta, Mobile, Seattle…) that they are still struggling to find their footing, even after some have lost as much as 55% of their values.  But, this past Spring and Summer have seen consistent price increases in the majority of metropolitan areas and some are even starting to see price jumps as the inventory for homes is still considered lower than normal.

 


Add to that the historically low interest rates that are slowly creeping down below 3.5% and you have a magic formula for home buying to rebound. The only caveat being whether the banks are willing to loan the money. If your credit was not dinged in the financial melt down a few years ago due to job loss or other calamities, and you have paid your bills on time consistently,  you are probably in pretty good shape to look at a home for purchase. But, you better start planning because it is becoming a sellers market in many areas ( meaning sellers can ask for higher prices due to demand). But, if your credit score is much below 700 you are going to find fewer and fewer choices. Banks have dramatically cut back risky lending, so the days of easy financing are over. You probably noticed you aren’t flooded via snail mail for credit card apps, that is becuase of the new reality of credit tightening is here for good. But, it looks like it is a great time to consider purchasing a home at a great price, finally.