Can’t afford a full kitchen makeover? Sprucing up the cabinetry is an easy fix for a fraction of the cost.
There are two options: replacing or refacing. Refacing includes covering the existing cabinet doors and drawer fronts with wood or plastic veneer and replacing knobs and door hinges; replacing cabinets requires removing them entirely and starting from scratch. So what’s best for your home? Here are a few things to consider, according to HGTV.
First, check to see if the cabinets are structurally sound. If you have problems opening the drawer, closing the doors, or if the cabinet’s interior isn’t as large as you need it to be, simple rejuvenating the look isn’t going to help in the long run. Also consider the age of the cabinets: those make 20 to30 years ago were typically built using thicker wood and sturdier construction. Such cabinets can often be refaced instead of replaced.
Next, consider how long you’ll remain in your home. Replacing the cabinets will add to the home’s value and could be worth the extra money if your home will be on the market in the near future. But for a potential buyer, a modern renewal of cabinets with an up-to-date look – might be enough, making refacing your cabinets a cost-effective, viable solution. The typical cost of refacing with plastic veneer can cost up to about $3,000, while wood veneers can cost up to $7,000. If you’re still considering the replacing, make sure you budget accordingly. According to Costhelper.com, the cost of delivery and installation of new cabinets can cost at least $10,000
Like the residential housing market, the remodeling market is showing signs of improvement, according to two leading industry indexes. The National Association of Home Builders’ Remodeling Market Index (RMI) rose five points in the fourth quarter of 2011 from the third quarter, reaching its highest level in five years. Index components measuring current market conditions and future indicators of remodeling business both increased five points in the fourth quarter. The highest market activity occurred in two categories: major additions and minor additions.
“The residential remodeling market has been improving gradually, mirroring the trend in other segments of the housing market,” says NAHB chief economist David Crowe. “Stringent lending requirements and economic uncertainty continue to be a drag on demand, but we expect a modest growth in remodeling activity to continue through 2012.”
Meanwhile, the Joint Center for Housing Studies at Harvard University also reports that home remodeling spending is expected to increase later this year after a slow start to 2012. If momentum continues to build throughout the year, 2012 could end on a positive note, says Eric Belsky, managing director of the Joint Center. “We’re beginning to see some hopeful signs in the economy, and the housing market is finally starting its slow recovery. That should prove helpful for home improvement spending as the year progresses.”
from CRS Connect, on-line newsletter
Key points
• The new year is a great time to reevaluate where you stand financially.
• Consider these five resolutions to reshape your finances in 2012, including tips on budgeting, estate planning and more.
• Helpful information for everyone, regardless of age or income.
It wouldn’t be the new year without resolutions. But whether it’s trimming your waistline or firming your financial profile, the key isn’t making the list, it’s sticking with it! That’s particularly true now, given the recent bear market and economic downturn.
Here are five steps to get you started. You don’t have to do everything at once. Just get going. We believe that, as you move from one step to another, you’ll feel stronger—and closer to achieving your goals.
Resolution No. 1: create a budget for life Financially speaking, life can be viewed as a series of cash inflows and outflows. Saving and investing during your working years should hopefully lead to a rising net worth over time, enabling you to achieve many of life’s most important goals, like funding your retirement. Creating your own budget and net worth statement can help you build your road map and stay on track, even during tough times.
Resolution No. 2: manage your debt Debt is neither inherently good nor bad—it is simply a tool. For most people, some level of debt is a practical necessity. That said, problems arise when debt becomes the master of the borrower, not the other way around. Here’s how to stay in charge.
Resolution No. 3: invest with a plan Getting better investment results are a goal we all share. But investing is a means to an end, not an end unto itself. So stay focused on your goals. Create a plan that will help you stay disciplined in all kinds of markets. Follow it and adjust it as needed.
Resolution No. 4: prepare for the unexpected Risk is a fact of life. Your financial life can be upended by all kinds of nasty surprises—an illness, job loss, disability, death, natural disasters or lawsuits. If you don’t have enough assets to self-insure against major risks, resolve to get your insurance in shape.
Resolution No. 5: protect your estate Without an estate plan, the fate of your assets or minor children may be decided by attorneys, government bureaucrats and tax agencies. Taxes and attorneys’ fees can eat away at your estate, and delay the distribution of assets just when your heirs need those most. Here’s how to protect your estate—and your loved ones.
Finally, remember you don’t have to do everything at once. Take one step at a time. Make some real progress on your journey in 2012.
Foreclosures may be making some people sick, according to recent research published by the National Bureau of Economic Research. In markets hit hard by foreclosures, such as, Arizona, California, Florida, and New Jersey, the number of reported visits to emergency rooms and doctor’s offices also has risen.
The study finds that an increase of 100 foreclosures corresponded to a 7.2% increase in reported cases of hypertension and an 8.2% increase in diabetes among people age 20 – 49. A rise of 100 foreclosures was associated with a 12% increase in doctor visits for anxiety and a 39% increase in visits for suicide attempts, though these figures still represent a small number of patients.
from CRS magazine Nov./Dec. 2011
The leading expert in color, Pantone, Inc., has made it official: Turquoise is the "it" color. But before you deck the house from top to bottom in the gemstone hue, consider the other latest trends.
Behr paint company says neutral is still in--think light colors such as grays, camels and off-whites. Experts suggest buying bigger furniture such as sofas and armchairs in these safe colors, which never truly go out of style. Complement neutrals with aqua and gold tones, but stay away from the darker browns, which are becoming passé.
While monochromatic schemes are still versatile and dependable, HGTV says the real winners in the color game right now are bold jewel colors such as ruby red or emerald green and the brighter the better--especially if it's a purple hue. Experts advise pairing these daring tones with a smoky charcoal or a softer black to give a room a vintage feel.
Going green and getting back to nature is a major trend, too. Earthier tones, such as sand or yellow-greens, are perfect for living rooms or kitchens. But going back to your roots doesn't just mean dipping into Mother Earth's favorite colors. Decorators say Asian-inspired or tribal patterns are adorning decorative elements consumers look to get the most bang for their buck. Think pillows, area rugs or murals as key items this season.
Since 1985 Brian has been an active force in the real estate industry. He has been a consistent high achiever, winning award locally & nationally. He has his CRS, GRI, & is the Broker/owner.
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