Adjustable-Rate Mortgage vs. a Fixed-Rate

If you’re in the market for a home loan, you may be wondering about the difference between an adjustable-rate mortgage (ARM) and a fixed-rate mortgage.

In an ARM, the interest rate adjusts periodically, depending on the direction of interest rates. ARM interest rates are typically low for the initial period. After that, they go up or down, depending on the direction of rates. When you see information about an ARM, you will see the initial period first, followed by how often it can adjust after that. So when you see 3/1 or 5/1, you are being told that the initial interest rate will last for three years or five years, respectively, and can reset every year after that.

ARMs usually carry a cap beyond which the interest rates can’t rise.

A fixed-rate mortgage, on the other hand, always carries a fixed interest rate. If you sign the mortgage paperwork with a fixed rate of 4 percent, you will be paying 4 percent for the entire life of the loan.

Interest rates are important because they are a factor in how much a mortgage payment costs. The lower the interest rate, the lower your monthly cost.

Both ARM and fixed-rate mortgages have a standard loan term of 30 years.

Home mortgage borrowers should know that there are pros and cons to each kind of loan. Many of them depend on your circumstances.

Adjustable-Rate Mortgages

If you’re not sure about an ARM, here are a few scenarios to consider as you make your decision.

Pros

1. If you plan to be in a home five years or less, ARMs can be your friend. Why? Because most ARMs come with an initial period of low interest rates. They don’t start rising for three, five or seven years. This means you will be paying a low interest rate as long as you are in the home.
2. Your payment can fall if interest rates decline. In the 2008-2015 period, for example, interest rates trended pretty steadily downward. Holders of ARMs in that period didn’t need to do anything to make their payments fall — they did so automatically.
3. If you will be in a home a short time and have an initial low interest rate ARM, you can save the money you would otherwise have spent on a fixed-interest rate mortgage with a higher rate.

Cons

1. ARMs can end up costing you when interest rates rise. We are in a period of rising rates now. If you planned to move after five years and your plans change, you may receive a rude shock when the interest rate resets and suddenly you’re paying more. Homeowners interested in ARMs should make sure their budget could withstand the rise to the lifetime cap. Otherwise, they may end up with a mortgage they can’t pay.
2. Depending on the ARM terms, the climb in rates can be sudden. If there is a lifetime cap of 6 percent, for example, it doesn’t necessarily take place over the course of a lifetime. It can rise 6 percent in one year. So that low introductory rate of 3 percent in 2017 can become 9 percent in 2022. That’s a considerable rise in the monthly budget.
3. ARMs are complicated to understand. The loan will be full of terms like lifetime cap, margins, initial rates and so on. They are more complicated than fixed-rate mortgages.

Fixed-Rate Mortgages

With a fixed rate mortgage, you’ll have more predictability — but you could be locked into a rate higher than the going market rates:

Pros

1. If you get a fixed-rate mortgage, your mortgage rate is constant. There are no rude shocks ever, no matter what interest rates do. They can rise to 18 percent — which is historically extremely high — and you’d still be sitting pretty. Fixed-rate loans are best for people seeking financial stability and planning to stay in their home more than seven years.
2. Because you pay a fixed amount, you will be able to plan monthly budgets much more effectively. ARMs rely on how much interest rates rise or fall, which is difficult, if not impossible, to predict. Your mortgage budget will always be predictable with a fixed rate.
3. If you lock in a fixed-rate mortgage when mortgage rates are low, your housing payments will be very low as long as you live in the home. This protects you from housing payment fluctuation. Unlike renters or ARM holders, no one can raise your mortgage.

Cons

1. The drawback to fixed-rate loans is that they aren’t flexible. There is no introductory rate that allows new home owners to pay less the first three or five years.
2. If you buy a home in a period of falling rates, your fixed-rate loan might become a relatively high interest-rate loan, given the environment. While they can be refinanced, it is expensive to do so. Many lenders charge points and fees to refinance.
3. Some fixed-rate mortgages can’t be paid off quicker than the term, or can only be paid off with a penalty. Be sure to read the fine print to make sure that there is no penalty for pre-payment.

Choosing between an ARM and a fixed-rate home loan can be daunting. The best choice depends on your circumstances. Be sure to consider the pros and cons carefully.

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How to Save for Retirement When You’re Self-Employed

We quit working our day jobs several years ago to pursue the dream of writing and working on this blog full-time — however, we also do several other freelance contract jobs, such as writing for companies, freelance construction work and more.

Most employers offer a contribution match to their 401(k) plan to help employees plan for retirement, and that is what most people rely on for their financial future.

But what do we self-employed freelancers do to prepare for those golden years? Are there any retirement options for the self-employed that will grow our savings to the amount needed for a comfortable retirement?

There are several options available for how to save when you’re self-employed, including both conventional and nonconventional ways.

Retirement Plans for the Self-Employed

Though many people are unaware of this, the Internal Revenue Service (IRS) states that self-employed freelancers actually have many of the same retirement options as employees.

• The Simplified Employee Pension (SEP) plan allows you to contribute up to 25 percent of your net earnings, not including the contributions for yourself, and the funds are tax-deductible.

• The 401(k) Plan is available for self-employed freelancers as an individual plan. You can contribute up to $18,000 annually, plus an additional $6,000 each year if you are age 50 or over. These deferrals can be either pre-tax or as Roth contributions.

• Savings Incentive Match Plan for Employees, also known as the SIMPLE IRA Plan, is available to small business owners with employees. You can contribute up to $12,500 annually. If you’re age 50 or older, you can add $3,000 in contributions per year. This plan also allows you to contribute a 3 percent matching contribution or 2 percent fixed contribution.

• The SIMPLE IRA Plan for the Sole Proprietor treats you as the employer and the employee when you file a Schedule C form. The plan allows you to defer up to $12,500 and an additional $3,000 if you are age 50 or older. However, you cannot exceed your net earnings from your business sponsoring the plan.

• Traditional or Roth IRA allows you to roll over your 401(k) funds from your previous day job to save for retirement. You can contribute up to $5,500 and an additional $1,000 if you are age 50 or older. These IRAs offer tax advantages, including a tax deduction on traditional IRAs and tax-free withdrawals during retirement on Roth IRAs.

The best retirement option for self-employed people is based on whether or not your business has employees – however, both the SEP and the individual 401(k) plans allow your earnings to grow tax-deferred until you are ready to withdraw the funds. Speak to a financial advisor or tax consultant before making contributions to ensure you are going to meet your financial goals.

Unconventional Income Streams for Retirement

Financial retirement accounts are not the only way to increase your self-employed retirement savings. There are other options available, including the one we are using to build a passive income stream to last a lifetime – blogging.

• Blogging allows us to reach a wider audience and share our knowledge and expertise. As we are building our site and our subscriber list, companies pay us to run their ads and/or include affiliate links for products we use and trust. When it comes to increasing our income and learning how to save for retirement when self-employed, blogging has proven to be a lucrative plan for us.

• Network marketing and direct selling through a legitimate company can result in earned income as well as passive income. Most companies offer a compensation plan for not only selling products, but for recruiting others to distribute the merchandise. The network marketing model promotes entrepreneurship and usually includes free training from the direct selling company.

• Renting houses or apartments is an option that will provide a monthly income from paying tenants. Depending on the location, a rental property can garner you an extra $200 to $1,000 or more each month. Renting property also has its tax advantages, and you can increase the monthly rent over time, or after major repairs or additions. 

• Accruing real estate takes the above option one step further. Not only can you purchase and rent out houses and apartment buildings, but you can rent out commercial real estate buildings to businesses that will provide you with an additional income stream. You can buy shares in a real estate investment trust or have direct ownership of the property. You will want to consult an investment advisor for the best option for you and your financial retirement goals.

Consider combining a couple of the retirement plans listed above with one or two of the unconventional income additions that fit into your schedule to help you save for retirement while self-employed. You can still retire with a plan in place without going back to your old day job — just keep an open mind and be willing to hustle to make it happen.

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Key Driveway Renovation Tips to Preparing Your New Driveway Makeover

Curb appeal is something all homeowners strive for, but achieving that look can be time-consuming, confusing, and just plain expensive if you don’t have an effective plan. One of the best places you can spend money where curb appeal is concerned is giving your driveway a makeover. By freshening it up, you’ll completely transform how your house looks. With that in mind, we’ve put together a few key driveway renovation tips that you can use for your driveway makeover. Let’s take a look. 

1.  
2. Experiment with Different Materials

If you’re considering giving your driveway a makeover, it’s also recommended that you think about using different materials. Just because you have asphalt at the moment doesn’t mean you have to stick with it. Maybe you’re ready for a big change such as poured concrete or something even more intricate such as interlocking brick. Now is the time to check out the various materials and pick one that amps up your curb appeal and achieves the look you’re going for.

Additionally, it’s a good time to think about the layout and size of your driveway. Depending on where you live, regulations, and the by-laws, you may also be able to expand the size of your driveway. This could warrant a makeover right there! Perhaps, you’ve always dreamed of that circular driveway, or one that allows for more parking. Now is the time to think about the configuration and make your design changes before you begin any drive renovation.

2. Sealing Your Driveway

If your driveway is still relatively new and isn't in really rough shape, then you're lucky because your options are less expensive as you can give it a pretty cheap and simple makeover. In order to get the most bang for your buck, you'll want to look into resealing the driveway. You can do this on your own or hire a professional to come in and do it for you. Keep in mind, that any cracks or holes must be fixed before you apply the sealant.

Why seal your driveway?

First of all, it will instantly improve the appearance of the asphalt. Because these sealants are a thick black material, it will bring it back to new condition as far as looks go. As an added bonus, it also helps to reduce cracking in the future, which will allow it to look good for a longer period of time. These sealants actually close the pores that are in driveways and prevent water from seeping in and causing damage.

3. Keeping the Concrete?

If you happen to have a concrete driveway that has seen better days, but you’d really rather not change it, then there are ways you can get it back to new. One of the most unsightly things that can happen with concrete driveways is cracks. They can be quite small or rather large and deep. These cracks will age your entire exterior and give it a rundown feel.

While it would be great to avoid these cracks all together, unfortunately it's just not possible. Cracking occurs when the ground freezes then thaws. Obviously, if you are in a climate that experiences cold winters and hot summers, this will be extremely difficult on your driveway. The cracks usually start off small and just keep expanding from there.

One option to fix this is by placing a new layer of concrete on top of the old one. When doing this however you need to cover the entire driveway otherwise you’ll have patches of new concrete on old concrete. If you do want to just seal the holes with new concrete you could then work on painting over the driveway in one colour. This will help to even out the look and make it all one colour, hiding the new concrete and blending it in better.

4. Resurfacing Asphalt

Another way in which you can give your driveway a makeover is to resurface the asphalt. During this process, a professional takes the top layer off your driveway and then replaces it with a brand-new layer. This is much faster, easier, and cheaper to do then ripping up the entire driveway and starting from scratch. What’s great is that you won’t see any patches and the driveway will be nice and level/even once again. It will look like a whole new driveway when the process is finished.

5. Choosing to Re-Pave the Driveway

In the worst-case scenario, you’ll be looking at re-paving your driveway completely. Usually, this is reserved for driveways that are 20 years or older, have been sealed numerous times over the years, have large cracks, potholes, and are uneven. At this point, the driveway has basically reached its maximum lifespan. If you’re looking to repave your driveway, you need to start by:

Choose your new pavers and get them positioned and secured into place using a layer of concrete to push them into.

 

• Pulling up the old pavers to make way for the new pavers.
• Evening out the ground to ensure its level for the new pavers to be placed down.
• Work out the square meterage you need to ensure you have enough pavers for the job.

It’s important to remember that you mustn’t drive on your driveway for a few days as this can create the pavers to become loose or move into awkward positions.

What If You Don’t Have Money For A Professional?

If you want to renovate your driveway but you don’t have the funds to bring in a professional here’s some things to think of:

• Add flowerbeds beside the driveway to help give it colour and beauty throughout the year. The flowers should be those that are able to withstand different weather changes and be exposed to the elements. They should also be low to the ground growing (unlike roses) to ensure your car won’t get damaged if they get too big and rub against the car.
• Depending on your driveway, you can also add a layer of smooth rocks or pebbles on top of the current driveway (if it’s dirt related) to give it more texture and appeal. Pebble driveways look great and are a cheaper alternative to hiring a professional.
• Repaint the driveway if it’s a little outdated or if you want to upgrade the look and don’t have the money. Many people opt to repaint the driveway to help give it a more modern look without the expense attached.
  

Don’t Be Afraid to Step Outside the Box

When it comes to a driveway makeover the best advice is not to be afraid to step outside the box. Start by setting your budget, then think about what look you’re going for and the practicality. Before you know it, your new driveway will add the curb appeal and usefulness that you’ve long desired.

Jimmy Stanley

Jimmy Stanley founded PSI Paving in 2004. Their expert team of paving contractors are considered the best in the business. Honesty is a hallmark at PSI Paving, so you can rest assured that our team will take great care every step of the way to give you the outcome you want.

from Home My Heaven: Home Improvement Blog http://www.homemyheaven.co.uk/2017/04/key-driveway-renovation.html

Financial Planning for Twenty Somethings

Your twenties are an exciting time for many reasons. You graduate from college and enter the real world. You get your first job. You are likely on your own in an apartment for the first time. No parents. No roommates. You may develop a relationship with a significant other and get married.

It’s also exciting because you set your own, individual financial house in order. Sure, how your parents handled money is probably a model. I know it was for me. But in your twenties, you get to decide what you’re comfortable doing. Do you want a house? Do you want to travel before starting a family? Do you want to move halfway across the country? It’s all up to you.

That said, there are many things I wish I’d known about financial planning when I was in my twenties. Standing at the ripe old age of 32, I wish someone had emphasized to me what I’m about to emphasize to you.

Here’s a look at the three basics of financial planning for twenty-somethings. Been there. Did that.

Get Your Debt Under Control

What do I mean by getting your debt under control? Get monthly debt payments to a manageable amount. The reason? A lot of people have racked up credit card debt or have student loan repayments kicking in. Either, or both, can leave them paying every single dollar of disposable income to debt service.

Disposable income, by the way, is the amount you have left over after basics like rent, food, utilities and transportation.

If you’re paying every single dollar to debt service, you can’t possibly save for a vacation, a down payment on a house or retirement. The problem is exacerbated by the fact that, in your twenties, your income is probably pretty low.

At 25, I had $5,000 in credit card debt and $25,000 in student loans. My first job paid $30,000 — not a princely sum. I got a personal loan at a lower interest rate and transferred my credit card to it, which lessened my monthly payment immediately. I applied for and got a student loan repayment plan based on my income. Less per month there. I was paying a total of $329 on debt payments every month. It went down to $225.

With the money you save from getting your debt under control, you can start to build wealth more effectively. You want to pay off your debt responsibly, but don’t starve yourself of every penny just to pay it off.

Build Good Credit

You need good credit. Eventually, you will want a mortgage or a car loan. When you apply, banks and other lenders pull your credit score. If your credit score is average or poor, you may not get approved. If you do, poor or low credit may mean you’ll be charged a higher interest rate than people with excellent credit.

A higher interest rate means you’ll pay more every month and that money goes to less of the purchase. In addition, more and more landlords and even employers are using credit scores as a proxy for responsibility. They use it to make rental and hiring decisions.

How do you build good credit? First, pay your bills on time. Always. A large part of a credit score is determined by payment history. Set up your monthly bills for autopay so you don’t forget to make out checks or mail them when they’re due.

Second, ironically enough, if you have no debt, you need to get some. Seriously. Part of what lenders look at is your ability to use credit responsibly. If you’ve never demonstrated that, which you won’t if you’ve had no credit card or bank loan debt, it will ding your credit score. They also don’t like people being maxed out. That will hurt your score even more.

If a bank will give you a credit card with, say, a $500 line of credit and you use $200, you’ll be sitting pretty. You use credit, but you don’t go wild. And you pay on time.

Start a Retirement Account

I didn’t care about starting a retirement account until I hit 25. Then, I read an article that made it clear to me how important it was. It said this: if a person saves $3,000 every year from the time they’re 21 until the time they’re 30, they’d have $227,111 saved by the age of 60, assuming a six percent rate of return annually. That’s more than a quarter million dollars. And that’s without doing anything else. That’s $250 per month. I could do it by the time I hit 28, at least.

The reason the figure grows to be so awesome is that time and compound earnings work like a type of magic. Compare what happens if you don’t start saving until the age of 41. You’d need to save $9,621 each year until you’re 50 to get the same amount by the age of 60. That’s nearly $802 every month. That’s a lot of money, and it’s beyond most people’s grasp.

Plus, if you have an employer-sponsored retirement plan, please, please take advantage of it. First, money is taken out pretax. That means if you make $30,000 and have two percent taken out for a 401(k), you’ll only be taxed on $29,400. It can, depending on your income, lower your tax bracket.

If your employer offers a matching 401(k), please, please, please take advantage. You’re leaving money on the table if you don’t. That two percent from you is $600 per year. With a matching two percent, it becomes $1,200 per year. Sweet.

 

In your twenties, you’ll have lots of adventures but have lots of financial planning too! The financial planning you set up now will let you get debt under control, have good credit and save for retirement.

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5 Cheap Family Vacation Destinations in Pennsylvania

Summer is coming, which means it’s time to hit the road on a family vacation. Your vacation can be great without breaking the bank. And if you’re heading to the Commonwealth of Pennsylvania, well, there’s so much in store for you.

Here is a list of the 5 best places to visit in PA for a family vacation that will keep you on your toes without emptying your wallet.

Jim Thorpe

Jim Thorpe is a quaint Victorian town bursting with charm and history. Named for the first Native American to receive an Olympic gold medal, Jim Thorpe is nestled at the base of the Pocono Mountains and is a place you’ll want to visit again and again.

For Harry Potter fans, hit Muggle’s Mug for a Butterbeer Latte and chocolate frog. When you’ve been revved up, walk the streets, or climb onto a train for a ride with the Lehigh Gorge Scenic Railway.

Hikers, take note: there’s some great hiking in this area. Glen Onoko Falls are a series of waterfalls that are wonderful to behold. Wear proper footwear at all times, as it’s a steep climb and best suited for older children and adults. For families with little ones, other trails may be better.

Jim Thorpe is close to many neighboring towns, so you’ll likely find lodging inexpensively at a hotel nearby. You’ll also find there are many resorts around, as well, which feature popular water parks for kiddos.

Lancaster

Lancaster, PA is a city bursting with character. With shopping outlets to farmers’ markets to smorgasbords, there’s enough to see and do here for more than a few days. Hotel prices are relatively cheap as well, with room rates at many places falling around $100 a night.

Try to hit the city on a weekend to sample the market downtown. There, you’ll see an array of food choices, including cheeses, deli meats, breads, cakes, whoopie pies, fruits and veggies. Should you hit Lancaster when the market is closed, your next food stop is a smorgasbord. These Amish buffets take food to another level.

And once you’ve eaten all you can truly eat, go for a drive to see how the Amish make a living. Take a buggy ride or sail the skies in a hot air balloon. If that’s not enough, hit the rides at the kid-friendly Dutch Wonderland, a small amusement park.

Gettysburg

The Battle of Gettysburg is said to have been the turning point of the Civil War. Its renown has brought visitors from all over the world. Tour the battlefield atop a double-decker bus, run Pickett’s Charge, and scour the rocks at Devil’s Den. Hit the Visitor’s Center for a true lesson in history and get an authentic wet plate portrait of your family done at Victorian Photography Studio.

There are plenty of great places to eat, but if you’re a root beer lover, you have to hit Appalachian Brewing Company for dinner and drinks. Finish with an ice cream dessert at Mr. G’s and you can head back to your B&B.

To keep costs down and beat peak season prices, consider staying outside of Gettysburg in Chambersburg, PA. Not only will you find a variety of hotels at great prices, but you’ll also be staying in the only town north of the Mason-Dixon line to be burned by the Confederates. That’s something, right?

Hershey

This sweet town will have you smiling in no time. The obvious choice for a family activity in Hershey, PA, is Hersheypark. Boasting thrilling roller coasters, a full waterpark, and a kiddie land for the smaller riders, it truly offers something exciting around every corner.

Once you’re through with Hersheypark, take a trip to Hershey’s Chocolate World, which features a free ride showing the chocolate-making process. The best part? The mini candy bar you get at the end.

Trolley rides are available to show you the history of the town. Hershey Gardens are perfect for the horticulturist. And The Hershey Story museum encourages an interactive approach for kids and family to learn more about the founder of the town, Milton Hershey.

Staying in town may be a bit more expensive for those on a budget, though there are often vacation packages available through Hersheypark with lodging included.

Pittsburgh

The Steel City has a lot to offer for a family vacation. A ride up the Duquesne Incline will give your kids an excellent view of the city, one offered to the public since the 1870s. From the top, you’ll be able to see the Monongahela and Allegheny Rivers merge into the Ohio River. You’ll also see Heinz Field, home of NFL’s Pittsburgh Steelers, and the city skyline.

Riding around in the city, it’s imperative you hit the Dor-Stop. A diner featured on Diners, Drive-ins, and Dives, it serves the best breakfast you’ll ever have. The hotcakes are like eating cookies and the jumbot, an egg dish, will keep you full for days.

When you’ve eaten to your heart’s content, head to Pittsburgh’s very own amusement park, Kennywood. Kennywood features lower prices but excellent rides. It also has the only known single-track racing rollercoaster. So good.

To stay, you can’t go wrong with a hotel downtown. You’ll be close to restaurants and can walk off your full stomach as you experience all the sights of the city.

Pennsylvania has so much to offer for a family vacation. These 5 towns are sure to keep you and your family busy and having fun. Take your kids on a vacation they’ll remember without breaking the bank.

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Advantages Of Using Engineered Oak Flooring

There are many advantages to using engineered oak flooring. For example, a walnut finish floor can be quite beautiful. A high gloss engineered oak floor can change the interior of the entire home. You are sure to receive many compliments on a high gloss engineered oak floor. 

Engineered wood flooring has a unique and feel. Anyone looking at your floor for the first time will certainly notice the beauty and elegance. An engineered wood floor looks absolutely authentic and it certainly will add great beauty to just about any home. If, in fact, you are seriously considering engineered oak wood flooring, it would be best to find one of the trusted suppliers of oak flooring in Melbourne like Market Timbers.

Another huge advantage of having an engineered wood floor is that the floor will never expand or contract. Hard wood floors will easily expand and contract depending upon the temperature within the home. For example, the cold winter months can cause real wood to actually expand. In addition, the warm summer temperatures can cause a wood floor to contact. Hard wood flooring actually can shift a bit due to changes in temperature and overall weather conditions. You should not run into any of these problems with an engineered oak wood floor.

Flooring made from different types of treated plywood offer much more durability than traditional wood flooring. Traditional wood is not very durable and it tends to become more of a problem if you spill something directly on the floor itself. Therefore, clean-up is so much easier with an engineered oak floor.

Another great advantage to having engineered oak flooring is that you can easily sand the floor and refinish quite easily. Wood floors can be sanded and re finished however, it may be more of a chore to refinish as opposed to an engineered wood floor.

If you plan to install the new floor yourself, you can count on the fact that an engineered floor is a great deal easier to install than a traditional wood floor. In addition, the fact that this type of floor is easier to install it will certainly be less time consuming to complete the job.

Cost Effective & Stylish

Possibly the most attractive feature of an engineered oak floor is that it is far less costly than wood. For anyone on a budget, an engineered wood floor is far less expensive and it will not drain your bank account.

If you plan on selling your home, a new engineered wood floor will certainly add value to your existing home. Therefore, you may find that replacing an existing floor with an engineered oak floor will increase the overall re sale value of your existing home.

Having engineered oak flooring installed within a home offers a number of advantages to the homeowner. There are so many styles of engineered wood flooring in which to choose from. Always remember, any improvements you make within the interior of the home will certainly be beneficial for a variety of reasons in the long run.

from Home My Heaven: Home Improvement Blog http://www.homemyheaven.co.uk/2017/04/oak-flooring.html

Interior design tips for first-time homeowners in London

Choosing your first home is one of the biggest decisions you can make, and it can be even tougher to decide how to decorate it because it is this process that will make it go from a house to a home. Decorating and furnishing a whole house from top to bottom is a tough task but these tips and some careful planning should make it easier.

Stick to a budget

The first thing you need to do when it comes to decorating is to know how much you intend to spend. As it’s your first home, it can be easy to get carried away with new furniture and decorations that you think will look good in your home but this can often mean you’ll end up spending more than you have. Always shop around for deals and discounts before you commit and if you have some spending money left over once you’ve got the essentials, you can always treat yourself with something on your wish list. 

Start with neutral tones

Sticking with neutral colours can be a good starting point for any first home design. Colours such as white, cream, black and grey are easily dressed up with splashes of colour here and there in things such as rugs, cushions, and throws. If you’re struggling for inspiration when it comes to neutral colours, asking help from a professional service such as Kia Designs, interior designers based in London, could help you create a starting point for each room.

Be frugal at first

This tip ties with the idea of sticking to a budget and can be another difficulty for first-time home buyers. You’ll probably have the overwhelming desire to buy everything all at once, but more often than not it’s better to start with very little and before you expand. If you know, you can do without a sofa for a while, wait until you’ve shopped around a little more to get the best deal. Sometimes it’s better to live in your house for a while to figure out exactly what you’re going to need.

One room at a time

By treating your home as a large project and working on the design of one room at a time, you’ll be able to have a clearer idea of exactly what you want to achieve without the stress of thinking about other rooms. Break tasks down into smaller, more manageable parts and this way you’ll be a lot less overwhelmed with the amount of work you have to do.

Stay focused on your ideas

Creating mood boards can have advantages and disadvantages. One disadvantage is something that we’ve already covered, the fact that you’ll probably want to buy everything all at once, but an advantage is that it will keep you focused on what you have in mind for each room in your new home. Compile photos, paint colours and fabric samples that you can take with you when you’re finally buying your furniture.

from Home My Heaven: Home Improvement Blog http://www.homemyheaven.co.uk/2017/04/interior-design-tips-london.html

8 Top Tips to creating a luxurious living room

Want to know how to create a luxurious living room? Then read on to discover our top tips for creating a sumptuous haven for your family. Whether you want to revamp the whole room or simply add a few luxurious accents, there are lots of options available to you.     

1. A touch of velvet

Create luxury in your living room by introducing a range of textures and fabrics. Velvet strikes a particularly luxurious note, and velvet sofas in jewel-like colours have been cited as a top style trend for 2017. If you don’t want to replace your sofa, then think about adding a plush throw, or a few scatter cushions to your interior design scheme.      

2. A chandelier

For an opulent feel add a chandelier to your decorating scheme. You’ll find examples aplenty from affordable versions on your local high street to vintage examples in antique shops and at your local auction house. Lighting fixtures are often the element of a decorating scheme that gets forgotten, but with a chic chandelier, you’ll achieve an opulent look in your living room.     

3. Art deco

Art deco style abounds in interior design at the moment, and it lends itself well to creating a luxurious feel, from angular mirrors to occasional tables with marble tops. Strong colour contrasts are evident too, as in the dining room of the Courtauld House at Eltham Palace, where black and gold reign supreme. Add key design motifs of the Deco style from the stepped profile to the Egyptian-inspired key design, sunrises, zig zags and stylised flowers. Here too shiny decadent fabrics are evident, just right for the luxurious feel you’re trying to create.  

4. Fireplace

Fireplaces create a striking focal point in a living and can add a luxurious note depending on the material and style employed. Look to Victorian or Georgian styles in carrara marble, limestone or granite to help create your luxurious living room. If you don’t have an open fireplace, there are plenty of gas or electric alternatives which echo vintage styles.     

5. Furniture that’s a cut above

Quality tells, and it’s worth splashing out on well-crafted furniture for your living room to help create that luxurious look. Oak has long been associated with quality when it comes to furniture and French oak strikes just the right note for a luxury feel, so seek out some stylish examples for your home. Whether you want a cabinet to hold your TV, to create a dining area or to add some valuable storage to your home, there are a plethora of pieces from which to choose.     

6. A rug

Nothing speaks of luxury like a rug, whether you choose a jewel-like colour to complement your sofa or a striking geometric pattern to echo the Art deco influence we’ve mentioned. There’s sure to be an example to suit every style and budget, with a plethora of options available online, on the high street or in your local antique shop. The texture, style, size and colour of a rug can transform a room, and there are some things you should consider before buying one. Firstly, consider what you want the rug to do; draw attention to the main focal point of your living room or become the focal point of a room. Size is also an important consideration; go for a small size to highlight a bijou but exquisite piece of furniture or larger size to pull together your whole interior design scheme. A rich colour, deep texture or ornate pattern is most likely to create a luxurious feel. If your living room is currently, plain, pale and smooth, it will break up the monotony and add some warmth to your interior.            

7. Crystal

Though the cut glass vase and punch bowl might not have the best reputation and have been out of favour for some time, an element of crystal in your living room can help create the luxurious feel you’re seeking. Look a little deeper, and you’ll see that the designs can be  much more cutting edge than you might at first anticipate. From the wow factor of a chandelier to a pair of candlesticks to top your fireplace or a mere door knob to put the finishing touch to your interior design scheme – there is bound to be something to suit you. From a piece of vintage Lalique to a contemporary design by the likes of John Rocha or Jasper Conran, the options available are many and varied.       

8. Window dressing

A crucial factor to consider when creating a luxurious interior design scheme is the treatment of the windows in your living room. Choose a heavy fabric such as a damask or velvet to add to that opulent feel and consider the added extras such as coordinating pelmets and tie backs.

So there you have our eight top tips for creating a luxurious living room, from quality keynote furniture to opulent fabrics, vintage elements and crystal accents. We hope you’ve found it helpful and that you’re well on the way to creating the opulent living room you desire.      

 

from Home My Heaven: Home Improvement Blog http://www.homemyheaven.co.uk/2017/04/creating-luxurious-living-room.html

6 key resources to have before investing in a property

6 key resources to have before investing in a property

Property investment can be fun and financially rewarding, but also – especially if you are just starting out – daunting. Buying a property for the first time will require the outlay of a significant amount of money that you could find hard to come by. Furthermore, naivety on your part leaves you risking shooting yourself in the shoot. Here are 6 vital resources for helping to prevent major issues arising.

A well-regarded online repository of advice

If you lack knowhow about the property market, then you can take heart that the Internet includes a treasure trove of detailed advice from property investment gurus. However, certain online sites will inevitably be more reliable than others; therefore, we would advise you to stick with a popular and respected property investment blog like Property Investments UK.

Your own knowledge of the market

Whatever trustworthy advice you learn online, you can augment with whatever you know about the particular property market that you are eyeing. The Property Speculator observes: “Many property investors specialise in a particular market because they know it well.” You could benefit from following this route if, for instance, you know the ins and outs of a nearby city with a buoyant population of students. You could then have their needs in mind as you choose property.

Money to spend investing in your chosen property

If you will be a first-time investor, you might need to first have a large pool of monetary savings at hand – even if you will be seeking a mortgage. Many lenders expect investors in your situation to use a lot of their own cash to fund their first buy. Furthermore, once you do have enough cash saved up, you should still meticulously compare different mortgage deals as you seek the best one for you.

Construction materials for use in developing the property

Chances are that, over time and as you see fit, you will progress beyond mere property investment and become a property developer, too. In other words, you could utilise some DIY skills as you add more physical features to an acquired property or give it a thorough refurbishment. For all of this, you will need suitable build materials; thus, remember to factor in the costs of these.

Further advice from a mentor

Even well-known entrepreneurs such as Richard Branson and Karren Brady have recommended mentoring for use in reaching better fulfilment and success. Your own mentors could come in the form of property investment consultants at Flambard Williams. These people can assist you in identifying fresh and promising opportunities for extending your success in investment.

Later, returns from a large portfolio of properties

Once you are amassing a steady income from one property, you could use some of the returns to help fund another property purchase and so grow your revenue and profits even more. However, The Property Speculator warns: “It takes a portfolio of quite a few properties to produce a regular income of sufficient size to live on.” Your savings from just one property could, thus, be meagre.

from Home My Heaven: Home Improvement Blog http://www.homemyheaven.co.uk/2017/04/resources-investing-property.html

How to make cabinet doors using matched rail and stile router bits

It is not uncommon for doors made from glued or entirely wood to expand, contract and warp at different climatic conditions. Such changes are problematic and can deny homeowners the comfort of having doors that can fully function regardless of the prevailing climatic setting.

Rail and stile doors are considered an ideal solution to the problem of wood movements (warping, expansion, contraction) since they can firmly hold wooden door panel and prevent unnecessary movements that are caused by seasonal weather changes. Rail and stile doors are also incredibly good-looking, and the strength they add to doors make their installation a huge bonus for homes.

Making rail and stile doors is simple as long as you have all the necessary working tools and some “know how” on how to engage in tasks such as fitting the components to have a working door as the outcome. 

Picking the right working tools

The first thing that will be required of you in this woodworking process is to pick the best router bit and stile collection. 2-piece set is highly recommended since it delivers flexibility regardless of the cabinet door you may wish to work on. They also come in different profiles, and you can pick a piece that can perfectly blend with your cabinet door. The fact is that you would also wish for your cabinet door to have durability and that is an aspect that can be determined by the features of the rail and stile router bits you pick. 

Thick micro-grain carbide based cutters are ideal since they enhance longevity while CNC-machined router bits can create anti-kickback geometry that adds a lot to their safety whenever they are used. Router bits with the non-sticking coat are also incredibly simple to clean, and the non-sticking coat also enables the routers to operate without excessive friction. Many rail and stile router bits have a 1/4" shank that improves their cut quality and durability. The bigger shanks prevent the bits from unreasonable vibrations or flexing and also helps in creating tight joints. 

The shanks also have a laser-etched mark that clearly identifies the part to be used for stile and rail cut profiles. You must get such specifications right since any wrong pick can lead to unintended product outcomes. For convenience, you will need a good router table that can make any woodwork process to be managed. That is because some tasks involved may be so uncomfortable to be handled on hand-held routers. Assuming that you have got all the tools and specifications right, your next step will be how to make cabinet doors using matched rail and stile router bits, and the following steps can be of great help.

Procedure 

• Determine the dimensions of your cabinet door and decide on the width of the stiles and rails. Most kitchen doors have 18”x24” and this dimension typically requires 2-1/14” rails and stiles. 

• Plane your door frame to have uniform thickness - Rails and stiles on cabinet door frames always have the same thickness. Any deviation in thickness produces mismatched joints, and that would not be a good thing if you favor “cope and stick” joinery. Be sure that you plane your door parts to a uniform thickness. You can have some stocks as test pieces just to ensure that you get to have stiles that have matching dimensions. 

• Measure your cabinet door with accuracy - Always remember to verify any dimension you get after measuring the width and length sections of your cabinet. The approach will ensure that you avoid errors which can otherwise prevent you from having the much-needed convenience and precision in your work. Here is how you can determine the length of the rail you intend to use: Subtract the width of 2 styles from the door opening width and add the outcome to the length of a rail joinery. 

• You can adjust slot-cutting width if working on doors with plywood or glass panels - some cope-stick bits models are adjustable so that the slot width can vary as the door opens. That feature is helpful when using plywood or glass cabinet doors that have not more than ¼” thickness. Insist on checking the instructions on the router you are using to see if they provide for slot width adjustment. Sometimes, it may be necessary to remove or add washers between slot cutters or consider replacing slot cutters with undersized cutter sets. Insist on having these adjustments before applying routing to any rail and stile joinery. Again, sticking the cutters and coping needs some modification since the required profiles must match. 

• Insist on coping the rails first since this procedure can offer you unimagined convenience. You can use a board to prevent any possible tear after you are done coping the rails, and any splintering can be well taken care of by making cuts in the subsequent tasks. Remember not to create any situation that causes the rails to flip or cause a mismatch in the cope orientations.

• Make a matching joint cutter using a routed workpiece – “cope and stick” joints ever needs to have an exact fit. If you are done with coping the ends of the rails, and your attention is now focused on the sticking cutter, you don’t have to measure to get the right cutter height. Instead, rely on the coped profile to make some judgment on the right height to use. Once you are done with lining up the necessary profiles, be certain to have some tests before resolving to mill the door’s frame parts. 

• If you are raising the door panels, first start by cutting across the grains, then cut along the grains – this procedure is necessary so that you can avoid unnecessary splinter which can induce some minor damages to the beautiful work you may have done. 

• Raise the panels in a progressive manner – panel raising often comes out as a challenging milling operation. To get clean results and also work safely, it is advisable to mill the panels in series, preferably not removing more than 1/16” for every milling series. 

Author Bio:

My name's Danny L. Montgomery. I'm the founder and owner of the blog zukzik.com. I love all things DIY & Home Decor. I hope I will be able to share my experiences with the interested readers

from Home My Heaven: Home Improvement Blog http://www.homemyheaven.co.uk/2017/04/how-to-cabinet-doors.html