Mommy Blog

Houses are akin to living, breathing objects that need regularly maintained. Everything from typical wear-and-tear to weather to natural disasters can cause roofs to leak, basements to flood, and dollars to drain from your bank account. Even if you're handy or have a contractor relative, house maintenance and upkeep can be costly. How costly it is depends on whether you maintain your home along the way or wait until a small problem becomes a big problem. You should know your home inside and out. Start by learning the major systems. Set up a maintenance schedule based on warranties and the life of the systems or appliances. For example, a toilet mechanism lasts about 5 to 10 years, a refrigerator 10 to 18 years, a central air condenser 10 to 15 years. Maintenance entails regular effort, but it will prove easier than dealing with emergencies. Plus, knowing what to do and what it is will help you plan a more accurate budget. Here are half a dozen things to do regularly to keep your ho...

Located on a well-shaded corner lot just a few blocks from the neighborhood elementary school, the 100-year-old Victorian home had the space and charm that the young couple sought, with a list price that was within their buying range. More importantly, it also needed a lot of renovation work -- a new kitchen, updated bathrooms, and restoration work to its interior. In short, the couple quickly realized it would take more than the mortgage cost to get into the home. They would also have to spend thousands on renovations. Armed with that information, the couple returned to the seller with a lower-than-expected offer. They pointed out which parts of the home were dilapidated and which parts were out of date. The seller agreed to lower the price for some but not all needed renovations. The lesson: needed renovations can affect the purchase price. Since the cost of major renovations will be difficult to recoup in a short period, sellers are generally warned to stick with repainting and repl...

Worried about the possibility of rising mortgage rates, a couple decided to end their home search by choosing a house from among three prospective candidates they had looked at. They chose a modest wood-framed two-story home. While the house was conveniently close to a school, it lacked the big backyard and the two-car garage they had hoped for. It had other shortcomings as well. Because they focused on the mortgage interest rate, the couple was less selective with their home purchase, a decision that would haunt them over the years as each shortcoming became more glaring. It would also fuel their buyer's remorse. Being selective when purchasing a house isn't a bad thing - although it can get out of control. But how far should you go? Start by making a list of your home-buying wants and needs, and rank them in order. Then, decide where you're willing to trade-off. For example, being near schools and parks may be more important than being close to restaurants and shops if yo...