Landscaping Projects for Every Budget

Summer is here. That means it's time to wrap up the interior projects and turn your attention to the great outdoors. Now’s the perfect time to get going on your landscaping projects.

Spruce Up the Yard Without Breaking the Bank

One of the best things you can do for your lawn is to rake and clear away debris. This breaks up thatch that starves the soil of vital nutrients and water. Most of the time, this can be done by hand; however, if the thatch is thick, you’ll want to rent a power rake or hire a pro to take care of the job for you. You’ll spend about $250, but the results will be worth it.

Once you’ve got your yard cleaned, it’s time to apply seed to any bare spots. Doing so now will allow the seed to establish before the temps get too hot. When your lawn is established, go ahead and apply fertilizer and herbicide. Just be sure to check the packaging for application instructions. The last thing you want to do is over-apply and burn your lawn.

Finally, if you have a sprinkler system and are looking to trim your water bills, you can replace your old sprinkler heads with new, water-efficient heads for about $5 each. Replacing sprinkler heads is a pretty straightforward job that’s doable for even novice DIYers. You can save even more money by checking to see if your water provider is offering rebates.

Mid-Range Projects That Can Have a Major Impact

If you’ve been thinking about laying sod, spring is the time to do it. Spring's cooler temps and consistent moisture help sod take root much quicker than it would if it were laid in the summer. While it’s a relatively simple job, laying sod correctly requires a good deal of prep work. It is also labor intensive, especially if you have to remove existing turf. Depending on the size of your job, you’ll probably find that it’s a project you’d rather leave to the pros.

So, how much will the job cost you? That depends on whether you’re picking it up and installing it yourself, having it delivered and installing it yourself, or having it delivered and installed. Sod farms charge by the square foot, charging you less when you order more. For small DIY jobs, you can expect to spend about $0.50 a square foot. On average, most homeowners spend about $2,000 to have a full yard professionally sodded.

Another great project to tackle in the spring is the planting of trees and shrubs. As with sod, cooler temps and an abundance of moisture are critical to a tree’s ability to take root. Don’t make the mistake of waiting until the temps get hot. Do so, and there’s a good chance your trees won’t make it through summer. What’s more, you’ll find that your options are far more abundant early in the season. Tree prices get more expensive as the size of the tree increases, so be prepared to spend more if you want instant shade.

Big-Budget Projects That Will Transform Your Yard

You might have heard that by spending 5-10 percent of your home’s value on major landscaping improvements you can increase your home’s value between 5 and 15 percent. While that might seem like a lot of money to spend on landscaping, the results are worth it. So, what should you do? Here are a few projects worth considering.

An underground sprinkler system might not be the world’s greatest invention, but we’d argue that it’s one of the most convenient. While a sprinkler system won’t fundamentally change the look of your yard, it will make it easier to maintain. Gone are the days of waking up early to water. What’s more, a sprinkler system takes the guesswork out of watering by adjusting watering times based on weather conditions, saving water and saving you money. The size of your yard will determine installation cost, but on average, you can expect to spend about $2,677 to have a sprinkler system installed.

Last but not least, one of the smartest things you can do if you’re planning major changes to your landscaping is to hire a certified landscape designer. For about $5,244, a professional will carefully design a landscaping plan that complements your home and delivers the look and functionality you’re looking for. Just keep in mind that installation is typically not included in the price. On average, you can expect to spend an additional $4,000 on installation.

Do I Need Perfect Credit to Buy a Home?

5 Myths of VA Loans

 

VA loans are the most misunderstood mortgage program in America. Industry professionals and consumers often receive incorrect data when they inquire about them. In fact, misconceptions about the government guaranteed home loan program are so prevalent that a recent VA survey found that approximately half of all military veterans do not understand it.

 

With this in mind, we would like to debunk the most common myths about VA Loans.

 

Myth 1: The VA loan benefit has a “one time” use.

Fact: Veterans and active duty military can use the VA loan many times. There is a limit to the borrower’s entitlement. The entitlement is the amount of loan the VA will guarantee. If the borrower exceeds their entitlement, they may have to make a down payment. Never the less, there are no limitations on how many times a Veteran or Active Duty Service Member can get a VA loan.

 

Myth 2: VA home loan benefits expire if they are not used.

Fact: For eligible participants, VA mortgage benefits never expire. This myth stems from confusion over the veteran benefit for education. Typically, the Montgomery GI Bill benefits expire 10 years after discharge.

 

Myth 3: A borrower can only have one VA loan at a time.

Fact: You can have two (or more) VA loans out at the same time as long as you have not exceeded your maximum entitlement and eligibility. In order to have more than one VA loan, the borrower must be able to afford both payments and sufficient entitlement is required. If the borrower exceeds their entitlement, they may be required to make a down payment.

 

Myth 4: If you have a VA loan, you cannot lease the home.

Fact: By law, homeowners with VA loans may rent out their home. If the home is located in a non-rental subdivision, the VA will not guarantee the loan. If the home is located in a subdivision (such as a co-op) where the other owners can deny or approve a tenant, the VA will not approve the financing. When an individual applies for a VA loan, they certify that they intend on making the home their primary residence. Borrowers cannot use their VA benefits to buy property for rental purposes except if they are using their benefits to buy a duplex, triplex or fourplex. Under these circumstances, the borrower must certify that they will occupy one of the units.

 

Myth 5: If a borrower has a short sale or foreclosure on a VA loan, they cannot have another VA loan.

Fact: If a borrower has a claim on their entitlement, they will still be able to get another VA loan, but the maximum amount they would otherwise qualify for may be less. For example, Mr. Smith had a home with a $100,000 VA loan that foreclosed in 2012. If Mr. Smith buys a home in a low cost area, he will have enough remaining eligibility for a $317,000 purchase with $0 money down.  If he did not have the foreclosure, he would have been able to obtain another VA loan up to $417,000 with no money down payment.

 

Veterans and Active duty military deserve affordable home ownership. In recent years, the VA loan made up roughly 13% of all home purchase financing. This program remains underused largely because of misinformation. By separating facts from myth, more of America’s military would be able to realize their own American Dream.

Mortgage Rates Just Jumped Over 4%. Now What?

Last week, mortgage interest rates jumped over the 4% mark for the first time this year according to Freddie Mac’s Mortgage Market Survey. In an article in Housing Wire, aBankrate analyst explained:

“Mortgage rates rocketed higher following a stronger than expected monthly employment report. The good news on the job front further solidifies the notion that the Federal Reserve will likely begin raising interest rates soon, perhaps in the third quarter of this year.”

This is the same type of commentary we heard back in the spring of 2013 when the talk of the Fed possibly raising rates caused mortgage interest rates to surge by a full percentage point from the end of April through the end of June of that year.

Will We See that Same Surge in 2015?

No one knows for sure. However, Fannie Mae, Freddie Mac, the Mortgage Bankers Association and the National Association of Realtors are each calling for rates to continue their upswing over the next six quarters.

Here is a chart comparing 2013 to this year:

Bottom Line

Though no one can definitely say where rates will be six months from now, most experts believe they will be higher. If you are thinking of buying your first home or are considering a move up to the house of your family’s dreams, now may be the best time to do it.

Garden Projects

TERRY WILD STOCK

When it comes to gardening in small spaces, your options aren’t limited to a square wooden box. There are plenty of ways to make a fabulous, one-of-a-kind garden bed or container with a little work and a lot of imagination. While there are no rules in raised beds or containers, there are a few things to keep in mind: proper drainage, adequate protection from critters, gardener accessibility, and keeping edibles out if you’re using treated wood. But most importantly—have fun and embrace your creativity.

TERRY WILD STOCK

Long-Lost Hobby Equipment

When hobbies you’d taken up years ago lose their luster, use the goods for the garden.

• Drum Set. Turn your drum set dreams into garden glory. Remove the drumhead, plant the drum shell partway into the ground, then add soil and plants.
• Boat or canoe. If your vessel has sprung a leak, reuse it for flowers. Someday you’ll catch that 50-inch musky, but for now, flowers are much easier than fish.
• Instruments. Trumpets, guitars and banjos all have potential to hold flowers. Plus, they’re almost guaranteed to be good conversation pieces.
• Leftover paint. Aspiring artists typically have paint to spare. Use your skills to fancy up your existing raised beds. It doesn’t have to be perfect; in fact, just a solid bright color will perk up your plantings.

Forlorn Furniture

Updating furniture in your home? Give your old stuff an extended life outside.

• Bed frame. When painted a bright color, an old wooden bed frame looks fabulous propped outdoors and planted with lovely flowers, creating a literal raised bed.
• Bookcase. A saggy-shelf bookcase easily transforms into a raised bed simply by removing the back (and shelves, if you wish), laying it on its side and filling it with soil, flowers or veggies. Worms and bookworms alike will love it.
• Drawers. Dinged-up dresser drawers become small planting plots when the bottoms are removed and plants are grown inside.
• File cabinets. Paint old file cabinet drawers a vibrant color to make small beds for flowers. It’s way more exciting than housing tax documents.

Your Recycling Bin (or Your Neighbor’s)

Check your discard bins and piles for items that can be reused in the garden.

• Shutters. If your neighbors are updating their home’s exterior, ask if you can have the old shutters. Shutters make great raised beds, because they’re easy to customize to fit whatever garden size you want.
• Wine bottles. If you needed an excuse to enjoy a glass of wine, here it is! But if you’re not a wine connoisseur or drinker, ask around local pubs or wineries for empty bottles. Line up and arrange the bottles to form a garden bed, fill the inside with soil and plant away.
• Cinderblocks. These are inexpensive, even if you can’t find them in a discard or odds-and-ends pile. To make them more attractive and personalized, add mosaics to the top.

DAWN WARNAAR/BYDAWNNICOLE.COM

Empty Nester Supplies

When kids grow out of their childhood things, repurpose them into useful items for growing plants.

• Outgrown goods. If they outgrow their boots, plant flowers in them. Turn a used crib into a garden bed. Old changing table? An instant display for containers!
• Kiddie pools. Those plastic pools are only useful when the kids are pint-sized. Add drainage holes and you’ve got yourself a fun (and portable) raised bed.
• Swing set. Many parts of a wooden swing set can be repurposed in the garden. If a sandbox was attached, make a flower bed. The ropes and chains serve as supports for climbing plants. A tire swing transforms into a place to grow flowers.

TOGETHERFARM.COM

Just Plain Quickly

Looking for something fun and unique? These ideas take your garden from ordinary to off-the-wall.

• Interlocking blocks. The little kid inside you will love this Lego-like raised bed growing set. After a successful Kickstarter campaign, Togetherfarms sells these awesome raised bed kits on Amazon for around $70. They are made from food-safe recycled plastic and are easily assembled like Legos— no tools necessary.
• Watering troughs. Though normally meant for farm duty, these galvanized multipurpose bins look sleek planted with bright flowers or vegetables. You can find them at a farm merchandise store or by asking a generous farmer who’s getting rid of one

Quick and Easy Garden Ideas

V.J. Matthew / Shutterstock

New window boxes and a quick coat of paint on your garden furniture will perk up your garden in no time!

Wouldn’t it be wonderful if we could spend countless hours tackling our garden to-do’s? In reality, while we balance careers, family and household chores, our garden aspirations are often left unfinished. Yet even the busiest of gardeners can spare a day, an afternoon or even an hour now and then. And in that chunk of time, you can accomplish a lot! These easy garden ideas are simple enough to complete in a day or less—and they won’t bust your budget, either.

If You Have an Hour…

Add flair to your chairs. A quick fix for dull outdoor furniture is a simple coat or two of paint. Have fun with it—no need to use matching colors. Lively hues work well in the backyard, especially near vibrant flower combos. For an extra pop of color, prop bright pillows on your chairs; buy them or make them from old fabric scraps.

Create a reading nook. Have a quiet, tucked-away place in the backyard? Set up a tranquil reading space with a comfy chair in a shady spot. No shade? Make your own with a homemade canopy or a stylish umbrella. Arrange an assortment of fragrant flowers in a container and place it nearby.

Quick-fix containers. For instant impact, start with a colorful container, or paint a pot you already own. Try out-of-the-ordinary containers like crates, old drawers, galvanized tubs, chairs or anything with drainage holes. Create a theme with your plant picks: make a purple container with pansies, petunias or heliotrope, or a butterfly garden with pentas, purple coneflower and salvia.

Brighten your nightlife. If you entertain outdoors in the evening, paint a few containers with glow-in-the-dark acrylic paint. They’ll brighten up your backyard in an unexpected way. Hang mason jars from tree branches with colorful ribbons. Fill them with candles for a fun way to light up the night.

Make your mark. Add a personal touch to your garden beds with homemade plant markers. Use objects you have around the house: wooden spoons, paint sticks, clothespins, painted rocks. These ordinary items become eye-catching when you add a little creativity.

Fill in bare spots. If you have an empty fence or a blank wall, make it pretty by hanging outdoor art or flat-backed planters filled with colorful plants.

If You Have An Afternoon…

Put an end to boring flooring. A concrete patio or a plain deck floor provides an opportunity in the form of a blank canvas. If you’re artistic, try painting a “rug” on your deck. Stain or paint a stamped concrete patio for a high-end look. Or simply buy a weatherproof rug to add some homey comfort to your outdoor space.

Install solar lights. They’re simple to install and add a lot of appeal to the nighttime garden. While you’re at it, plant a few white flowers nearby, like snowdrops, white tulips and moonflower, to make your garden glow in the moonlight.

One-day water garden. Find a watertight pot, or add a waterproof liner to a large container, like a whiskey barrel. Put pavers or bricks inside at varying heights and add potted water plants and accents like grasses and flowering plants. Install a pump to get the water moving for soothing sounds that also attract birds.

Do-it-yourself chandelier. Fancy up your dinner parties with a homemade chandelier to hang above your patio table. Add your own touches to an old chandelier base—jars filled with candles, jewels, ornaments or beads. If you don’t have a base, make your own. We’ve seen readers fashion chandeliers out of Christmas lights attached to an umbrella frame or a spray-painted hula-hoop. Brilliant!

Mosaics in a minute. If you’ve retired your old bowling ball, repurpose it into garden art. Glue on tiles, flat-backed marbles, coins or mirrors; let it dry and add grout or paint on a design. Or if your plain stepping-stones could use a makeover, add mortar and position mosaics on top.

If You Have a Day…

Elevate your entry. When you have a little more time for easy garden projects, try spruceing up your garden entryway (or adding a new one) with an arbor or gate. It’s a simple way to give dimension to your yard. Plant some fragrant climbing vines, like sweet pea, climbing rose or wisteria, or place some containers at each entrance.

Raised veggie garden. Planting a vegetable garden is simple when you use a raised bed. With just a few pieces of lumber, soil and compost, you’ve set the stage for growing your favorite veggies. For an added touch, paint the wood a fun color to pick up hues you already have in your garden.

Mulch and edge beds. Make your garden beds look polished with mulch. If you don’t already have a barrier (or if your edging needs an upgrade), it only takes a little while to edge your beds. Use bricks, rocks or pavers for a finished look that’ll also make mowing much easier.

Make a rain barrel. If you don’t want to buy a pricey rain barrel, it isn’t time-consuming to make or decorate your own. If the blue barrel look isn’t your thing, you can easily paint it to make it more appealing. We’ve also seen readers transform whiskey barrels and garbage cans into attractive rain barrels.

Add wow to your windows. An underused portion of the house lies underneath your windows. Installing window boxes instantly adds charm and value to your home. Make them with leftover lumber, then add your own personal touches and no-fuss flowers.

2 Out of 3 Renters Want to Own. What’s Stopping Them?

The Federal Reserve Bank of New York recently released the 2015 SCE Housing Survey. The survey revealed that most current renters would prefer owning and that 61.9% of them plan to buy a home within the next five years. 68.3% stated they would prefer owning (with 45.6% saying they ‘strongly’ prefer owning). When asked at what point in the future do they think they will own a primary residence:

• 8.2% said within a year
• 15.3% said in 1 to 2 years
• 38.4% said between 3 to 5 years

What’s Holding Them Back?

Of the 68.3% who would prefer to own, 2 out of 3 cited difficulty in getting a mortgage for the reason they do not own. However, many believe that the reason so many think that it would be difficult to get a mortgage is not fully based on current market realities. For example, studies have shown that there is confusion over the amount of money needed for a down payment. Research has shown that 40 to 50% of Americans believe that between 15-20% is the minimum required for a down payment. In reality, there are many programs available at 5% and even 3%. There are even some programs that don’t require any down payment (ex. VA loans). Others fear they need a perfect credit score or believe that the overall mortgaging process has become almost impossible. Actually, the Mortgage Credit Availability Index, a report from the Mortgage Bankers Association, has shown that, over the last seven months, access to mortgages has gotten much more available. And the NY Fed study suggests that some renters are waiting for interest mortgage rates to fall even further. Fifty percent of the renters surveyed believe mortgage interest rates will fall over the next year and almost 10% believe that they will fall by more than 1%. However, the reality of the situation is thatFreddie Mac, the Mortgage Bankers Association and the National Association of Realtors are all projecting that rates will be significantly higher at this time next year. They are all predicting mortgage rates will be almost 1% higher!

Bottom Line

Many renters want to own their own home. Some are not moving forward based on misunderstandings regarding the mortgage process. If you are currently a renter who desires the benefits of homeownership, sit down with a local real estate professional to determine what your options actually are.

If You are Thinking of Selling, Now’s the Time

If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market. Jonathan Smoke, the chief economist of realtor.com, in a recent article revealed:

“Our preliminary review of April activity on realtor.com shows that traffic, searches, and listing views are up more than 35% over last year. With 3 million jobs created and close to 1.5 million new households formed in the past 12 months, many more people want a new home of their own, and they want it bad. Their patience will be tested with tight supply—indeed, the No. 1 impediment of active shoppers in April was not being able to find a home that meets their needs.”

In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.

6 MYTHS ABOUT CREDIT SCORES