Updated: Nov 5, 2020
We hope your month is off to a great start! Whether you’re thinking about finances, getting ready for school, or thinking about adopting a new puppy, We’ve shared some information below that you may find useful. In the meantime, if you or someone you know is thinking about buying or selling a home, please let us know.
3 Ways to Build Home Equity
Buying a home is a big step for both your family and your financial well being. As you pay off your mortgage, you begin to build equity in your home. Equity is the difference between the market value of your home and how much you still owe. If that number is positive, you’ve built equity, which can come in handy if you ever need to take out a loan or as a profit when you decide to sell your home. Here are some ways you can build equity in your home faster.
You have a certain amount that you’re required to pay on your mortgage each month, but you don’t have to stop at the minimum. A large portion of mortgage payments covers interest and insurance. Upping your payment to pay down your principal loan amount will speed up your payment schedule. Even an extra $50 a month can have a big impact.
The amount of equity you have in your home depends on what your home is worth, so making upgrades that increase the value of your home is another way to increase your equity. One of the most lucrative upgrades you can make is replacing old garage doors. Just be sure to do your research when upgrading your home to see which renovations offer the greatest return on investment.
Restructure Your Mortgage
If you initially signed up for a 30 year mortgage, but are now at a point where you want to pay your loan off faster, you may benefit from switching to a 15-year plan. You’ll pay more each month, but you’ll pay less interest over time and could pay off your mortgage years ahead of schedule.
Creating a Dedicated Learning Environment
Whether your kids are going to school in person, virtually, or will be home schooled, now is the perfect time to create a dedicated learning environment for your children to study and do their school work. Here are some tips to create a study space for any age.
Children receive a lot of structure at school. School bells keep everyone in sync, rules banning cell phones keep everyone on task, and classrooms keep each grade separate from other classes to help cut down on distractions. While you don’t have to go quite that far at home, try to set up your learning space where your kids won’t have to worry about noise from phone calls, TVs, or other distractions.
Searching for missing objects can be a huge time drain. Make sure you and your kids know where their books, papers, highlighters, and other important study items are located by getting organized. Baskets, shelves, and binders are all great tools to help keep school items organized.
Sitting in the same spot all day is no easy feat, especially for a child. Create different spaces for learning different subjects. For example, while math may be best studied at a desk, reading can be productive on the couch, a bean bag chair, or even outside.
How to Introduce a New Puppy to Your Home
Many people have been spending more time at home, which may have you thinking about adopting a new puppy. If you are thinking about adopting, or have recently adopted a new puppy, here are some tips to help them adjust quickly and easily.
Create a Schedule