Prepare Your Home for the Winter Months

The weather is turning cooler, and it's time to start preparing for winter weather.  Here are helpful tips to prepare your home for the cold weather:

Clean out the gutters and use a hose to spray water down the downspouts to clear away debris. Install leaf guards on the gutters or extensions on the downspouts to direct water away from home.

Hire a contractor to check the structure ability of the roof to hold unusual heavy weight from the accumulation of snow or water.

Weatherize. Add insulation to your walls and attic if necessary.  Consider purchasing insulated doors and storm windows to further protect your home from the cold. This will also help lower your heating bill.

Ask a gardener to trim trees if branches hang too close to the house or electrical wires, this will prevent winter injury.  Plant spring flower bulbs and lift bulbs that cannot winter over such as dahlias in areas where the ground freezes.

Buy supplies in advance.  In the event of a severe winter storm, you'll need a stock of supplies on hand such as rock salt to melt ice on walkways, sand to improve traction, snow shovels and other snow removal equipment.   Make sure that your home has sufficient heating fuel; regular fuel sources may be cut off. It's good to stock up on good supply of dry, seasoned wood for your fireplace or wood-burning stove.

Remember fire safety. Keep fire extinguishers on hand, and make sure everyone in your house knows how to use them. House fires pose an additional risk, as more people turn to alternate heating sources without taking the necessary safety precautions.

The winters can be long and sometimes harsh.  It is essential that proper preparation is taken PRIOR to a potential freeze.  If you need professional help, please click here for the contact list of my recommended experts to assist you in preparing your house for the long winter months ahead.

Investing in Multi-Family Home

At this tough economic situation, it is important to be smart on where we should invest our hard earned money on.  Many Americans invest their savings on a house they've been dreaming of living in.... but would you consider investing in a multi-family home, that not only provide a roof over your head but also give you a passive income that can last a long time?  The table below shows the average rent for a number of rooms in Anchorage.  The rental information indicated in the table can be yours when you decide to invest in a multi-family property.

	Rent /unit
Studio	$757
1 BR	$954
2 BR	$1,254
3 BR	$1,678

Note: Average Rental in Anchorage. (Source: http://www.myapartmentmap.com/apartments/ak/#data

     

Here are the advantages of investing on a multi-family property:

Interestingly, many multi-family homes are selling for the sameasking prices as single family detached homes with similar features.

It generates income! A multi-family home has several units that can generate income and bring you cash every month. Repair cost per unit is lesser compared to a one single unit that needs repairs and maintenance. No worries if you don’t have a job.

It pays its own expenses – Payment for the property’s mortgage, taxes, utilities, payroll, advertising, landscaping, and so on is not taken from your pocket.  The property can generate income that can pay for its own expenses.

It's easy to get a loan.  Investing in multi-family properties promises an easier loan approval compared to non-income producing-single family home, because lenders qualify and approve the loans based on the property's ability to repay the debt itself.

For non-owner occupants, a 1031 tax-deferred exchange can move the entire profit from the property's sale into another, larger multifamily structure. Using a different strategy, as an owner-occupant, you can sell your property after two years of living on the premises and receive the portion of the profit that's equivalent to your living unit tax-free (in a two-unit home, for example, half of the profit would be tax-exempt). With careful financing and a good track record of on-time mortgage payments, you can expand your investment into two multifamily buildings. You can then continue this pattern atperiodic intervals to constantly increase your net worth.

Now is the best time to invest in a multi-family home because the property values and mortgage interest rates are lower than ever! Furthermore, the rent income is great!

Multi-family homes are going to bring you the greatest amount ofpassive income possible because the tenants you are going to have are going to consistently be paying their rent, and they are going to do so long after the mortgage on the property is paid off. If you choose to flip a property you may be able to enjoy ten or fifteen thousand dollars in accumulated equity; however, that is all you are going to get. By choosing to rent a multi-family home you are going to have the rent checks coming in month after month. These rent checks are going to pay your mortgage for you, and once the building has been paid off, it will more or less be sheer profit for you to do with as you will.

If you want fast return on your investment, you can check out the newly updated 108 Friendly St., Anchorage multi-family home with MLS# 11-417.  It is a FANTASTIC Anchorage Fourplex investment property with great rental history in a very high demand area!  Please call me for more information.

About Weatherization Assistance Program

Weatherization Assistance Program (WAP) is a government program that enables low income families

to permanently reduce their electricity bills by making their homes more energy efficient.

Funds are used to improve the energy performance by air sealing (weatherstripping, caulking), wall and 

ceiling insulation, heating system improvements or replacement, efficiency improvements in lighting, 

hot water tank and pipe insulation and refrigerator replacements with highly efficient Energy Star rated units.  Both single-family and multi-family buildings are assisted.  

WAP serves low-income families free of charge and limits the amount of assistance to $6,500 on any single residence. Household can have average savings of more than 20% per month once the program has started.  

Households with incomes at or below 60% of state median income are eligible for assistance.  Program services are available to both homeowners and renters, with priority given to senior citizens, families with children and persons with disabilities.

Weatherization Assistance Program helps our country reduce its dependence on foreign oil and decrease the cost of energy for families in need while improving the health and safety of their homes.  

For more information on Weatherization Assistance Program, please check out http://www1.eere.energy.gov/wip/wap.html.

Energy Saving Tips This Winter

In today's economy, it is important to search on ways on how we can we can easily reduce the monthly expenses.  Winter is just around the corner and winter heating costs have been steadily increasing these past few years. You can lower your heating costs by following these simple steps:

If you're in the market for an upgrade or an update, try going green. The initial costs may be high, but you will enjoy lower electricity bill in the future.  There are companies that can install solar or wind powered systems in your home.  We just received our PFC in the mail, it will be a great idea to use it on upgrading our home into a more energy efficient living space.  If you do not have the available cash, then at least consider all other options. 

Maintain a properly insulated home. Older homes may have limited insulation, thus they may have a higher electricity costs.  Adding insulation can be relatively inexpensive and can be a real money saver, since heat rises and can easily escape trough an improperly insulated room.  Insulation can also go beyond the inside or your walls.  Insulated (thermal) curtains can also do wonders for conserving energy.  They are thicker than the regular curtains and have several layers that serve insulating process.

Check for leaks around windows and doors.  If you have older, non-insulated windows, consider replacing them with energy efficient upgrades. You can even take a tax credit for these particular improvements.  

You may also install storm doors and windows to prevent heat escaping your home.

Installing a programmable Thermostat.  Set the temperature lower during night time and start heating before you wake up.  Your home will be warm during walking hours and you'll save money off your heating bill.

Do you know that you can get rewarded by making your home energy efficient?  One example is the Home Energy Rebate Program.  In the Home Energy Rebate Program, homeowners may receive up to $10,000 for making energy efficient improvements on their home.  If you want to learn more about other Energy Programs sponsored by the government, please check http://www.ahfc.us/energy/energy.cfm.

It can really get cold during the coming months, be sure to prepare properly for winter.  Keep heavy blankets, especially wool and warm clothes.  It may be necessary to pile on the layers instead of turning up the thermostat.

Your electricity bill will definitely go higher during the winter, but if you prepare in advance, you will earn significant savings with just few simple steps. 

If you need a list of service providers that can make your home more energy efficient, please don't hesitate to call me.