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How
To Avoid Rookie Mistakes
First-time
homebuyers face a steep learning
curve. There's much to know, much
to learn, and a great potential
for "rookie mistakes" --
with potentially costly
consequences.
What should you check? Here are 10
basic issues to consider.
- Rushing into the
transaction. Buyers looking
for homes in extremely tight
markets may feel pressured to
make an immediate offer.
Instead, it makes sense to
become familiar with the local
market before making a
purchase offer.
- Not asking enough questions.
First-time homebuyers, by
definition,
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simply
don't have homebuying
experience. It may be
uncomfortable to ask
questions, but ask anyway.
Brokers can't answer
unasked queries.
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Myths
Create Poor
Energy Choices
True
or False?
Insulating
the ceiling will just cause more heat to
leak out of the windows. False. Switching
to electric room heaters will reduce your
energy bill. It depends. When my appliance
is turned off, it's off. More and more
often that's not the case.
Saving
energy has triggered a round of myths,
half truths and downright incorrect
information, but the Home Energy Saver
department at the Lawrence Berkeley
National Laboratory is out to debunk them.
The lab's
research has turned up and over turned
numerous energy-related myths. In some
cases, the basic premise is correct, but
the energy savings are much smaller than
people realize. In other cases, the myth
is based on factors that once may have
been true, but have been subsequently
resolved through better design, technology
and manufacturing, according to the lab's
Evan Mills, Ph.D.
Here are
some of the myths the lab's debunked thus
far.
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Best
Rate Guarantees? Consumers Beware!
The
sellers say "yes" they love your
offer and the packing boxes are ready for
your move. You've already been
pre-approved by your lender, so now it's
time to really start mortgage shopping.
You want to
find the absolute best rate and terms on
the planet, but how can you be sure you're
getting the best deal? There are literally
hundreds of mortgage lenders and brokers,
so can any of them guarantee that you'll
get the best rates and terms?
Search the
Internet and you'll find companies that
absolutely guarantee the best deal. Apply
with such firms and they will guarantee
you that if you find a better deal, they
will match it or pay you money if they
don't. Hard to beat, right? Maybe.
A
"guarantee" can be defined as
something that assures a particular
outcome. If you want a guarantee that
you'll get the best rate, then some
lenders will provide one. But step back
for a moment and think of another industry
that has been using a similar marketing
technique for years...the automobile
trade.
You've seen
and heard them all. "Come to Bob's
Motors and we guarantee we'll beat any
deal!" or so the pitch goes. But if
you ever try to accomplish that at Bob's
Motors you may just find that there really
are no two cars exactly alike.
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When
To Repair And
Replace Appliances
How
do you know when to repair or replace an aging or
broken major appliance? Depends.
The age of the old
appliance, the price of a new one, hidden costs
and new technology are among a host of factors
you'll need to consider, according to
RepairClinic.com an appliance parts e-commerce
site offering do-it-yourself appliance repair
information.
"Many people
throw away appliances because they don't know a
repair person they trust. They also fear the
repair cost will be so high they'll wish they had
just replaced the appliance," says the
clinic.
RepairClinic.com
says the cost of labor comprises 75 percent of the
cost of repairing an appliance and many people can
troubleshoot and repair appliances themselves with
significant savings.
"In general,
appliances last between 12 and 14 years. However,
many appliances last for more than 30 years,"
according to RepairClinic.com.
The clinic suggests
considering the following questions to help you
decide to replace or repair your appliance.
Daily
News and Advice
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