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What to Know Before Buying a Foreclosed Home

If you’ve been keeping your eye on real estate home listings, you might’ve seen more foreclosed properties for sale at a reduced price. 

With record levels of unemployment and underemployment, many homeowners are falling further behind on their mortgages. Currently, there’s a federal moratorium on the most common mortgage programs through December 31, 2020. Unless further homeowner protections are in place, the foreclosure market will see an unfortunate rise.

In fact, according to mortgage and real estate analytics company Black Knight, 2.3 million homeowners are already seriously past-due on their mortgages. 

As devastating as it is to have more homes undergoing foreclosure, it also means that prospective home buyers, who were otherwise priced out of buying a home, might have greater access to homeownership. Here’s what you should know if you’re thinking about buying a foreclosed home.

Buying a Foreclosed Home 

There are many ways you can buy a foreclosed home, depending on what stage of the process the foreclosure is in:

  • Pre-foreclosure. Many homeowners are willing to sell before they’ve officially been foreclosed on. Depending on how much equity they have, they might need to do a short sale. 
  • Short sale. Homeowners can seek approval from their lenders to sell you the home for less than they owe on the mortgage. The bank will get less than it’s owed, but it still often approves short sales since they usually cost less than a foreclosure. 
  • Auction. Once a home is foreclosed it’ll often be auctioned off by the bank. But you’ll need cash on hand for this, and that’s not an option for most folks who need mortgage financing. 
  • Real-estate owned (REO) properties. Alternatively, banks can simply sell the foreclosed home through more traditional markets, just like a normal home.

It’s usually easiest to buy the foreclosed home once the bank takes over and it becomes an REO property. That’s because you can take your time and go through the mortgage underwriting process. You can also work with a realtor, and — importantly — write contingency clauses in the contract that let you pull out of the deal if a home inspection reveals more repairs than you expected. 

7 Caveats to Buying a Foreclosed Home

Buying a foreclosed home isn’t exactly the same as buying one directly from the homeowner. You’re potentially buying a home from a bank who took over after the previous homeowners were unable to afford the home anymore. This introduces a few twists into the home-buying process for you. 

1. You’ll Need a Realtor Who Specializes in Foreclosed Homes

The world is full of realtors, even including your Uncle Bob and Cousin Carolyn. But not everyone is equipped to handle the nuances of buying a foreclosed home. There are a lot of issues that can crop up — unplanned property damage, squatters, homeowners who settle the bill and try to reclaim ownership, etc.

If you’re serious about buying a foreclosed home, seek out a realtor with extra experience in this area. There are even special designations that some realtors can get, such as Short Sales and Foreclosure Resource (SFR) or Certified Distressed Property Expert (CDPE).

2. Houses Are Sold “As-Is”

With a typical home sale, you have the change to get the property professionally inspected before signing on the dotted line. It’s not uncommon for new issues to arise, and in a normal home buying transaction, you can often negotiate with the sellers to either fix the damage or discount the price. 

That’s not the case when you buy a foreclosed home. If a home inspection reveals unexpected damage — like the need for a full roof or a septic system replacement — banks often aren’t willing to negotiate. It’s a take-it-or-leave-it sale. 

3. Expect to Put In Some Work

The above point is especially important considering that most foreclosed homes do, in fact, need a lot of fixing up. 

Think about it: the previous homeowners lost the house because they couldn’t afford the mortgage. There’s a good chance they also weren’t able to keep up with routine maintenance either. From their perspective, even if they did have the cash, what’s the point of spending money on repairs, if they know they’ll lose the home in a few months?

You can save money by putting in some sweat equity (HGTV, anyone?), but even then you’ll need the cash to pay for materials. This also means that the home might not be move-in ready. If you do move in, you might need to put up with construction debris for a little while. On the bright side, though, this does give you a chance to upgrade the home to your own aesthetics. 

4. You Might Need Creative Financing

This brings up another issue: how do you pay for those renovations? Generally, you can’t just ask for a bigger mortgage to cover the necessary repairs. Most lenders will only lend you as much as the current home appraisal is worth, minus your down payment. 

You have a few options, though. You can hold some money back from your savings to pay for it in cash, but this means you’ll have a smaller down payment. An alternative is getting a loan from a different lender, like a personal loan, a 0% APR credit card, or even a home equity loan or line of credit if you’re lucky enough to start from a position with equity. 

Finally, there are some special “renovation mortgages” available through Fannie Mae and other lenders. These mortgages actually do allow you to take out a bigger mortgage so you can pay for renovations. You might need to provide a higher down payment or have a higher credit score to qualify, however. 

5. Watch for Liens on Foreclosed Homes at Auctions

If you have a big pot of cash and can pay for a home on the same day, an auction might be your best bet. But then you have to worry about a new factor: liens. 

If the property had any liens attached to it (such as from the previous homeowners not paying their taxes, or a judgement from unpaid debt), you’ll inherit that bill, too. 

This is usually only the case for auctioned homes. If you buy a foreclosed home as an REO sale, the bank generally pays off any liens attached to the property. Still, it may be worth double-checking if you have interest in a specific property. 

6. Be Prepared to Act Fast

You’re not the only one with the bright idea to get a low-priced, foreclosed home. Chances are good that there are a few other buyers interested in the property, which increases competition. Even though the home is listed at a big discount, this competition can still drive prices up. You might need to be ready to act fast, just the same as in any hot real estate market. 

7. Be Prepared to Wait

On the flip side, there’s a lot of extra bureaucracy involved in buying a foreclosed home once the seller accepts your offer. There’s often extra paperwork to fill out or other complications. 

For example, the home appraisal might come back lower than expected, which might make it harder to get enough financing for the agreed-on purchase price. If it’s a short sale, it might also take longer for the bank to approve the lower sale price for the home, based on what the homeowner’s mortgage is currently worth. 

Pros and Cons of Foreclosed Homes 

Buying a foreclosed home isn’t necessarily a good or bad idea on its own. It all depends on your own goals — for example, are you willing to figure out financing for repairs to get a deal on the home purchase price? Also consider how important it is for you to have a “move-in ready” home with no hassle. 

Weigh these pros and cons carefully, and what’s most important to you when buying a home. 

Pros Cons
Can get a deal that’s lower than market price Property is sold “as-is” and might not be move-in ready
Can customize the home to your specifications with repairs and upgrades Likely needs a lot of repairs and upgrades 
Requires creative financing for repairs and upgrades
Foreclosure process is long and might fall through 

The Bottom Line

Buying a foreclosed home can be a win-win situation. You get a home at a good price, and (usually) you can bring the property back to good, working order by fixing it up. As long as you go into the deal knowing that it’s not the same experience as a typical home purchase, buying a foreclosed home is a great way to launch into homeownership or real estate investing.   

The post What to Know Before Buying a Foreclosed Home appeared first on Good Financial Cents®.

Source: goodfinancialcents.com



Gardening Tips That Save You Green

If you’re a gardener, chances are you know how rewarding growing your own food can be. Whether you run an at-home farm, tend to a small patch of blueberry bushes, or have an apartment window herb garden, you know how satisfying that harvest of something you’ve grown is. Gardening has been linked to some serious health benefits, too—even significantly lowering levels of cortisol and feelings of stress.

Turns out, growing your own food at home offers much more than a chance to get outside and get your hands dirty. Growing your food can be an incredibly cost-effective hobby, with a 600 square-foot garden producing about 300 pounds of fresh produce worth around $600 annually. When packs of seeds cost around $3 each, the opportunity to grow your investment, literally and figuratively, is clear.  

Just by planting and tending to tomatoes, lettuce, or potatoes, you could save some serious money as a result. The average American spends close to $6,800 a year on food, which equals 12.6 percent of their total spending. Of that, $760 is spent on fruits and vegetables. By spending under $100 to build up your own plot of fruits and veggies, you could save around $800 a year—money that you could then save or invest in more seeds to save even more at the grocery store!

You don’t need a green thumb to see how that math adds up. If you’re worried about a black thumb ruining your chances of saving some serious green yearly, learn more about gardening tips that will turn even the smallest of garden plots into a bountiful harvest. Plus, read up on the many benefits of gardening on your health and overall happiness—you’ll be grabbing gardening gloves and mulch before you know it!

Sources: Country Living | An Oregon Cottage | Balcony Garden Web | The Penny Hoarder | Earth Easy | PSECU | Good Housekeeping | AARP | Money 

The post Gardening Tips That Save You Green appeared first on MintLife Blog.

Source: mint.intuit.com



Real Estate Market 2020 Recap & 2021 Forecast Denver, CO

Everyone knows that the real estate market fluctuates throughout the year, and some years are more extreme than others. The biggest question on the minds of everyone in 2020 and for the upcoming year is all about knowing when the time is right.

Should I buy or sell a home in Denver right now?

Our expert local agents have your back when it comes to market trends, but here’s a quick guide on understanding how and why the market changes.

Supply & Demand

The real estate market is often used as the number one example of a supply and demand industry. However, it’s important to understand what makes the demand or supply change. You’ve probably heard of a buyer’s or seller’s market before; what are they and how do they come about?

Seller’s market: People use this term when there are eager buyers but few sellers. This means that the homeowners who put their humble abodes up for sale are more likely to get multiple offers. This typically results in higher prices for homes.

Buyer’s market: This term is used when there is a high number of homes on the market and fewer buyers. Sellers often will wait longer for their home to sell and the sale price may be a bit lower than the listing price because buyers have more leverage to work with; when homes aren’t flying off the market, sellers are more willing to negotiate to get their sale underway.

The swing from buyer’s to seller’s market is influenced by several factors. Here are just a few.

Interest Rates

Interest rates play a big role in the ability for many buyers to afford a home. Locking into an interest rate is a long-term decision that spans the life of your mortgage in most cases. Therefore, many buyers are hyper-aware of rates and what that means for their payments over time. When interest rates are low, it gives more buyers the opportunity to make homeownership a reality.

If you’re looking to take advantage of low rates as a buyer, we recommend finding a mortgage lender or broker who can find you the best rates in your area and for your circumstances. Not all lenders are created equal, and a loan officer can help you make the best decision. Homie Loans™ guarantees that they will beat any competitor’s locked loan estimate, or they’ll pay you $500.*

As a seller, it’s still important to be aware of the rates. If you’re selling during a time when rates are high, there’s a good chance there will be fewer buyers.

World Events

Many world and national occurrences, like major storms and weather events, election years, and employment rates, impact the health of the real estate market. Be aware of what’s happening in your local market and keep an eye on the news.

Time of Year

If you’re looking to sell or buy during winter, be aware of how weather will impact you. Snow makes for undesirable moving conditions. This can mean fewer buyers in the market, which sellers may find extends their timeline for selling but buyers may see less competition.

While spring and summer may seem like the best time of year to sell a home, so will everyone else. Be aware of how the warmer months impact competition.

The Role of Real Estate Experts

Real estate agents are key players when buying or selling a home. Agents, like the pros at Homie, live and breathe the market. Whether it’s a buyer’s or seller’s market, your agent can help you make the right decision to sell your home fast and for top dollar or help you find and win your dream home within your budget.

You won’t want to enter the competitive real estate market in Denver without one!

Let Homie Help You Make Your Next Move

If you’re ready to take advantage of the hot market to come in 2021, click here to start your listing.

If your dream home is in your 2021 plans, let one of our buyer’s agents help you find and tour the perfect home, and then build a compelling offer. Click here to get in touch.

Want to learn more about buying or selling? Sign up to get more info directly to your inbox!

What are you interested in?

The post Real Estate Market 2020 Recap & 2021 Forecast Denver, CO appeared first on Homie Blog.

Source: homie.com



A Guide to Estate Planning for Second Marriages

Couple getting married for the second timeGetting married for a second time following a divorce or the death of your first spouse can feel like a fresh start. But it’s important to consider how joining your life with someone else’s may impact your financial plan, including how you manage your estate. What is fair in a second marriage and estate planning? It can be a difficult question to answer, especially when you or your new spouse are bringing children into the marriage or you plan to have children together at some point. Understanding some of the key financial issues surrounding a second marriage can help with reshaping your estate plan. So can consulting a financial advisor, especially one experienced in estate planning for second marriages.

Key Estate Planning Considerations for Second Marriages

Remarriage can bring up a number of important questions for estate planning. Both spouses should be aware of what the central issues are when updating individual estate plans or creating a new joint one.

Here are some of the most important questions to ask for estate planning in a second marriage:

  • What assets will be left to each of your children?
  • Do you plan to have additional children together and if so, what assets will be preserved for them?
  • Which assets will you each continue to hold individually?
  • Are there any assets that will be retitled in both of your names, such as a first home, vacation home or bank accounts?
  • Are either of you bringing any debts into the marriage or will you incur new debts after the marriage?
  • Do each of you have a will in place that needs to be updated?
  • Or will you establish a new joint will?
  • Besides a will, what other estate planning tools may be necessary, i.e. a trust, advance healthcare directive or power of attorney?
  • Will you continue working with your current financial advisors or choose a new advisor to help you manage your financial plan together?

Asking these kinds of questions can help you each get a sense of the other’s perspective on estate planning. Ideally, you should be having these types of discussions before the marriage takes place to minimize potential conflicts later. This can also help you decide if a prenuptial agreement may be necessary to protect your individual financial interests. But if you’ve already remarried, it may be a good idea to have this discussion sooner, rather than later.

At the same time, it can also help to complete an inventory of your assets and liabilities so you both know what you’re bringing into the marriage. This can help with managing the distribution side of your estate plan later as well as planning for how any debts may need to be handled should one of you pass away.

Estate Planning for Second Marriages With Children

Having kids can add a wrinkle to your estate planning efforts when you’re getting remarried. For example, you may wish to leave certain assets to your children while your new spouse may want your assets to be equally distributed among his or her children as well as yours. Or there may be questions over who would assume control over assets on behalf of minor children should one of you die.

When there are children in the picture, it’s important to consider any provisions you’ve already made for them in a will or trust and how that might affect any assets your spouse stands to inherit. You may need to update your will or set up a separate marital trust, for example, to ensure that your spouse receives the share of your assets you wish them to have while still preserving your children’s inheritance. Provisions may also need to be made for any children you plan to have if you’re still relatively young when a second marriage occurs.

It’s important to consider the age of your children when deciding what is fair in a second marriage and estate planning. If you have adult children, for example, it could make sense to gift some of their inheritance to them during your lifetime. But if you have minor children, you and your new spouse would need to decide who should be in charge of managing their inheritance on their behalf if one of you dies prematurely.

Check Beneficiary Designations

Estate planning documentsAssets that already have a named beneficiary may need to be updated if you’re remarrying. For example, if you named your previous spouse as beneficiary to your 401(k), individual retirement account or life insurance policy, you’d likely want to change the beneficiary to your new spouse or to a trust you’ve set up so that your former spouse can’t collect on those assets.

You should also consider other assets, such as bank accounts or real estate, should be titled. Adding your new spouse to your home as a joint tenant with right of survivorship may seem like the right move for keeping things simple in your estate plan. But doing so means that if something happens to you, your spouse will automatically assume full ownership of the home. They could then do with it as they wish, regardless of what you might have specified in a will or trust.

Look for Gaps in Your Estate Plan

When deciding what is fair in a second marriage and estate planning, consider where the gaps might exist that could leave your assets in jeopardy. Not having a will, for example, could be problematic if you pass away. Without a will, your state’s inheritance laws would be applied – not your wishes. That means your assets may not go to your children or other heirs as you’d like them to.

A trust can also be a useful tool in estate planning for passing on assets to your spouse or children as well as managing estate and inheritance taxes. If either of you are bringing considerable assets into a second marriage or you want to minimize the potential for conflicts over asset distribution later, setting up one or more trusts could be a good idea. Talking to an estate planning attorney can help you decide whether a trust is necessary and if so, which type of trust to set up.

Also, consider whether you have sufficient life insurance coverage to provide for the surviving spouse and any children associated with the marriage. Both spouses in a second marriage may need to have life insurance coverage, particularly if one person is the primary breadwinner while the other is the primary caregiver for children. Checking your existing life insurance policies and talking to your insurance agent can help you determine whether what you have is enough or if more coverage is necessary.

Finally, think about what you may need in terms of end-of-life planning. Long-term care insurance, for instance, can help pay for nursing home costs so that your spouse or either of your children aren’t left in the lurch financially. An advance healthcare directive and a power of attorney can ensure that your wishes are carried out in end-of-life situations where you’re unable to make financial or medical care decisions on your own behalf.

The Bottom Line

Wedding decorationsDeciding what’s fair in a second marriage and estate planning can be tricky and it’s important to get the conversation started early. Understanding what the biggest challenges of estate planning in a second marriage are can help you work together to shape a plan that you can both be satisfied with. And if you have adult children, it’s important to keep them in the loop so they understand how a second marriage may impact their inheritance.

Tips for Estate Planning

  • Consider talking to a financial advisor about the implications of a second marriage and what it might mean for your portfolio. You and your spouse may choose to maintain your current advisors or find a new advisor to work with together. In either case, finding the right professional to work with doesn’t have to be hard. SmartAsset’s financial advisor matching tool can offer personalized recommendations for professional advisors in your local area, in just minutes. If you’re ready, get started now.
  • Trusts can be a useful estate planning tool for couples, including those who are getting married for a second time. A marital trust, for example, goes into effect when the first spouse dies. This can be helpful for passing assets on to a surviving spouse while minimizing estate taxes. You may want to create this type of trust, along with a second living trust set up specifically for your children, to manage assets more efficiently while also protecting them from creditors.

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The post A Guide to Estate Planning for Second Marriages appeared first on SmartAsset Blog.

Source: smartasset.com



Best Reverse Mortgage Lenders for 2021

Reverse mortgage companies provide homeowners ages 62 and over with home equity conversion mortgages, or HECMs, that convert home equity into cash. The best reverse mortgage lender provides multiple options for tapping your home equity and solid educational resources focused on the lending process and reverse mortgage rates and costs. A counseling session is mandated […]

The post Best Reverse Mortgage Lenders for 2021 appeared first on The Simple Dollar.

Source: thesimpledollar.com



10 Ways to Master a Virtual Career Fair (+ Questions to Ask)

Preparing for a career fair used to mean packing a bag, suiting up, and budgeting more time for travel. Now, preparational tasks include updating video backgrounds and Wi-Fi connections. Swapping in-person events for virtual events may sound like an outlandish idea, but it’s become the star of the show in 2020, as virtual networking events have become the safest meeting alternative amidst the COVID-19 pandemic.

Whether you’re seeking a new career or an internship, you’ll likely come across virtual career fairs as a way to talk to potential employers. This is a new experience for many, so we’ve compiled 10 tips to make the most out of a virtual career fair. From preparing your stage to showcasing your skills, here’s how to build your resume and salary potential. Landing a new job is the perfect time to enhance your budgeting skills as you allocate your new income.

What Is a Virtual Career Fair?

A virtual career fair is an event over video that pairs job seekers with employers. For people who want to advance their skills and income, finding a paid internship or new career path may be on this year’s agenda. These events bring together established companies looking to hire people just like you.

Virtual events may feel out of the ordinary compared to traditional in-person career fairs, but there are a few perks — like saving you travel time and expenses. Before signing up for a virtual networking experience, you probably have a few questions. Should you dress like you would for an in-person event? How will you stand out? Below, we share 10 tips to prepare for a virtual career fair and be seen by employers.

How to Prepare for a Virtual Career Fair

First things first, register! If you’re unaware of when or where these events may take place, contact your school’s career center or hosting company. Email, or call, to ask about future career events and opportunities. Keep reading to get the ball rolling with your new career by networking and interviewing from home.

1. Check Your Wi-Fi Connection

Wi-Fi has become more of a lifeline and it’s especially valuable for a virtual career fair. The last thing you want is to freeze or get kicked out due to an unstable connection. If your home has spotty Wi-Fi zones, make sure you set up in a reliable zone. Test your connection by calling a family member or friend with the video software you’ll be using. If your Wi-Fi passes the test, set up your meeting station. If not, reboot your Wi-Fi router and try again in a different area.

2. Set Up Your Meeting Environment

Set your computer up in a professional and distraction-free zone. Setting your computer on your kitchen table with your back up against a white wall may do the trick. Ensure you silence your phone, sit in a well-lit area, and rid your area of sounds or visuals that may steal your attention. Test your video background by turning on your computer camera before starting the event.

3. Research Companies You Would Like to Speak With

Before starting the meeting, make a strategic plan. Ask your career center for a list of employers that may be attending this event. Research each employer on Google, LinkedIn, or job sites like Glassdoor. Scope out which positions you’d be interested in and may excel at. Once you’ve created a list of top employers and positions, ensure you secure a meeting spot to chat with them. During the virtual career fair, emphasize your skills and how they may fit each company’s needs.

4. Dress Up as You Would for an In-Person Career Fair

To get in a professional mindset, dress as you would for an in-person career fair or interview. Thirty-seven percent of employers ranked appearance as one of their key differentiators when seeing if someone is fit for the job. While employers may only see you from the waist up, dress up from head to toe. Dressing the part may help you act the part as a professional goal-getter. A classic button-up shirt, slacks, polished hair, and simple accessories will make the perfect outfit.

5. Test Your Equipment and Log In Early

After doing your research and picking your outfit, test your equipment. Double-check your computer’s battery, microphone, camera, and Wi-Fi connection. Then, log into any accounts or video conferencing software you’ll be using for this event. If possible, ask a friend or family member to video chat beforehand to work through any technical difficulties. Have your notes, research, and a pen close by for the meeting ahead.

The Anatomy of a Successful Virtual Meeting

6. Practice Strong Communication and Body Language

When you’re on the call, present yourself with confidence and attention to detail. Look into the camera, sit up straight, and nod throughout conversations to show you’re engaged. When speaking up, avoid fidgeting or touching your face. When using hand gestures, consider sitting far away from the screen for attendees to see. Practice these skills by role-playing video conversations 30 minutes before the video call.

7. Be Patient and Listen

Technical difficulties and long conversations may happen. And that’s okay! Practice your patience and professionalism by patiently waiting for an employer to sift through candidates or technical issues. If you’re cut short on time, ask the employer for their contact information. After the event, if you want to learn more, ask to set up an additional meeting to continue the conversation.

8. Ask for Email Addresses to Stay in Touch

You may consider asking each employer you speak with for their contact information. In most cases, you’ll get an email address. After the event ends, compile your thoughts. Write a list of your top three employers and reach out directly. Send each an email thanking them for their time and kindly ask about next steps.

9. Practice Your Interview Skills

Sending in applications and speaking with employers may lead to an interview. And if so, congrats! To prepare for any short notice interviews, brush up on your skills early. Print out a list of commonly asked interview questions and topics specific to the industry. Consider curating responses to five interview questions each morning. Before you know it, you’ll be ready for any impromptu interviews that come your way.

10. Maintain Your Network

You may choose to work for one employer over the other, and employers may go with another candidate. To keep a pulse on future career opportunities, stay in touch. Down the line, these employers may want to hire you. Send each person in your network an email check-in every six months. To ensure you keep tabs on your network, create a spreadsheet with contact information and check-in notes.

Questions to Ask at a Virtual Career Fair

The key to standing out is to ask engaging questions. While 56 percent of recruiters may hire candidates that don’t ask questions during an interview, 44 percent wouldn’t. If you want to be seen by employers in video meetings, ask questions! Here are 10 questions to ask employers you’re interested in working with:

  • What surprised you the most about [company/role]?
  • On a typical day, what does someone in [role] do?
  • Can you tell me about the different stages of the hiring process?
  • What are the highlights and lowlights of this position/your role/company?
  • I read an article about [event, role, candidate, campaign]. What was it like being a part of the team during that time?
  • What opportunities for growth are there at [company name]?
  • What’s the biggest challenge you and your team face?
  • I see you don’t have any openings in [position]. Do you have a forecast on upcoming roles in this industry opening up?
  • Who will this potential candidate report to in this role?
  • How does your team measure performance?

Keep reading for quick tips to mastering the art of a virtual career fair.
your budget. You may have the opportunity to grow your career while getting paid. To track these financial changes, regularly check in on your budget. You may be able to put more towards your savings, credit card debt, or investments. While building your career portfolio, you could build your financial portfolio along the way.

The post 10 Ways to Master a Virtual Career Fair (+ Questions to Ask) appeared first on MintLife Blog.

Source: mint.intuit.com



How to Prepare Your House for Winter

With cold weather approaching, it’s time to take a couple days and get your home ready for the winter weather. To help you get started, here is a checklist with some of the most important tasks to get your house ready for the snow and cold.

Check for Leaks

In the winter, you want to make sure your home is a fortress. You don’t want any of your precious heat escaping, and you don’t want any of the winter weather getting in. To help you figure out your home’s leaky spots, you can hire a professional to do an energy audit on your home. This is a great option if you don’t have the time, or the desire to climb on your roof.

Windows: Swap out your screen windows for storm windows. During that process, check around your windows to make sure they are well sealed. To help identify small gaps, carefully hold a lit match or lighter a couple inches from the frame of the window. Move the flame around, always making sure it’s a safe distance from surfaces and fabrics, and watch for the flame to “dance.” If the flame moves, there is air movement in that spot. Use caulk to seal around the frame, or use a plastic window insulation kit to cover an entire window.

Heavy curtains will help keep more heat from escaping through your windows.

Doors: Replace your screen doors with storm doors. Again, check the seals during that process. If you can see any light around your doors, you have a significant gap for warm air to escape. Even if you can’t see any light, you still want to check the rubbery weather stripping around the door. If it’s brittle or cracking, it’s not doing its job. Installing a new weather stripping kit from a hardware store is a quick fix to make sure your doors are sealed.

Ducts: As time goes by, seals on duct work can come loose. Check your duct work to make sure your ducts aren’t letting any heat out into your attic, which can cause snow to melt and refreeze as ice dams on your roof.

Roof: Before winter arrives is a great time to check your roof for the season. Climb up (or at least get on a high ladder) and examine the shingles. Replace any that are missing or broken.

SEE ALSO: Who Knew's How to Prepare Your House for Winter

Make Sure Your Heating Systems Work

Furnace: Before it gets too cold, have your heating system checked out by a professional. The first really chilly day of winter is not the time to figure out your heater isn’t working. Have a heating and air company come out, check the systems, and change the filters, and you’ll be ready for Old Man Winter when he arrives.

Water Heater: The end of fall is a great time to drain your water heater. This should get done once a year, so if you haven’t done it recently, make sure you do before you find you only have really cold water in your house.

Chimney: If you have a chimney, make sure you sweep it (or have it professionally swept) before lighting any fires for the season. Removing the excess soot, as well as the birds and animals that made their homes in chimneys throughout the year, will help prevent fires and smoke damage. Also, examine the damper to make sure it’s still looking good. If it’s bent or warped, warm air will be able to escape through the chimney.

Reverse Ceiling Fans: If you have ceiling fans, now is the time to reverse them. Putting them in reverse will help blow down warm air that would otherwise be stuck near the ceiling, which will likely mean you can turn your heat down a degree or two.

If your fan runs on a remote, there is likely a button on the remote to switch the direction. If your fan runs on a switch, look for a small toggle or switch on the fan motor to make the change.

Be Ready Outdoors

Gutters: Make sure your gutters are ready to handle the winter precipitation. Empty the fallen leaves and anything else that has gathered in the gutters. Make sure they are secure to the roof, and repair them as needed. Also, make sure the drain pipe from your gutters is long enough and directing winter rains and melting snow away from your home’s foundation.

Water Lines: Prevent burst pipes by turning off all exterior water lines or insulating the pipes. If you have a sprinkler or irrigation system, drain the lines to make sure no water is left to damage the underground lines.

RELATED: Domestic CEO's Fall and Winter Home Maintenance Checklist

Tools: Be ready to get yourself out of the house by making sure all your winter tools are in good working condition. Turn on the snow blower, visually check the shovels, and stock up on salt or deicers. Having everything in its place and ready to go will give you a good start on digging out from a big blizzard.

Prepare Your Safety Kits

Pantry: During the winter, it’s always a good idea to keep extra food supplies in your pantry in case a big storm prevents you from getting to the store. Boxed and canned foods are the best because they take no electricity to store (in case that goes out), and have a long shelf life. Stock your pantry with a week’s worth of pastas, canned fruits and vegetables, soups, rice, beans, and bottled water, and you’ll be ready if the big one hits your town.

Boxed and canned foods are the best food to keep in stock because they take no electricity to store (in case that goes out), and have a long shelf life.

Lights: If a winter storm takes out your electricity, make sure you are ready with flashlights and candles to light your home. Keep flashlights in every room, and teach your kids where they are in case they need to find them in the dark.

Heat: If you have a wood burning fireplace, keep a solid stash of wood ready in case your power goes out. If you are in an area prone to losing power, you may also want to invest in a generator to run your furnace a couple hours a day during power outages. A good stash of blankets and comforters will help you get through chilly days and cold nights.

Detectors: Winter means an increase of home fires and carbon monoxide leaks. Make sure you and your family are protected by replacing the batteries in your smoke and carbon monoxide detectors and testing them before winter hits.

All the tasks on this list are important to get done before the snow starts falling. If you don’t have the time to do them all, hire a trusted professional to help you knock a few off tasks off your list. You’ll be thankful that you have everything done and ready as soon as the first big storm hits.

I’m the Domestic CEO, helping you love your home.

Image courtesy of Shutterstock.

Source: quickanddirtytips.com




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