2 Things To Do When Your Home-Based Business Takes Off
Your small business is a wild success; in fact, it’s doing so well that you’re running out of room in your home office. Paperwork consumes your desk, and packing containers are threatening to swallow your dining room table whole. Now what? There are far worse problems to have than a business that’s become so successful you no longer have sufficient space for it in your current home. When this happens, there are two items that should sit atop your to-do list as a small business owner. Expand Your Base of Operations Time is money for virtually any business. If your home office has become cramped due to increased products, paperwork, packaging materials, or even people, consider expanding your physical space to meet the needs of your work. An overstuffed office is an inefficient one. It may be time to buy a bigger house. A burgeoning business is one of many reasons why people move, but it carries its own set of considerations. Before you meet with a professional from Texas’s premier real estate agency, ask yourself the following questions to improve your home search: How much square footage do you need for your home-based business right now? Do you anticipate that increasing in the future? Do you need storage areas, such as for manufacturing or shipping materials? How many people do you employ? If you don’t employ anyone at present, will you in the future? What’s your home buying budget? How much of a down payment can you afford? Are you willing to make repairs to a property? What’s your budget for that? Your answers to these questions can help you narrow your search before you and your Realtor at the Jones Team start the property-viewing process. In addition to streamlining your home search, taking stock of your needs, wants, and finances can also help you be realistic during this exciting transition. If you’re open to repairing a house that piques your interest, for example, it’s imperative that you’re clear on what “as-is” means when you purchase that charming old ranch-style home. A leaky roof and other structural defects, mold, and pest infestations are all concerns that might be tucked under an “as is” disclaimer. A Realtor can help you negotiate proposed repairs as part of your contract. Form an LLC Working with a realtor and being both specific and realistic about your home business expansion are two wise ways to protect yourself as an owner. Forming a limited liability corporation is another. An LLC establishes you and your business as separate entities and protects you from having to personally cover losses incurred by your business. It also reduces the amount of paperwork you have to do. While LLCs share many of the same benefits that corporations do, one crop of obligations you don’t get with an LLC is paperwork-heavy tasks such as annual reports, shareholder meetings, and various fees. Forming an LLC also imparts a handful of tax advantages, including specific small business deductions and pass-through taxation. The latter allows small business owners to be taxed on their business’s profits as individuals, without the double taxation that corporations typically face. These tax advantages and other regulations governing the formation of an LLC (or another business structure, such as a corporation or partnership), vary by state, so do your homework before committing. Skip lawyer fees by filing yourself or enlisting the help of one of the many LLC formation services available online. Owning a small business means making decisions and reacting from moment to moment. When it’s clear that your operations have outgrown your office, consider investing in the future of both your business and your family by creating ample room to protect your assets.
Assisted living facilities offer an appealing solution for many seniors, but smart home automation can make independent living comfortable and help with the everyday tasks of home management. From smart thermostats and light switches that respond to the sound of your voice to refrigerators that restock themselves, stock up on these smart devices to keep you or your loved one in your home for longer. Door Locks and Security Systems Smart door locks and security system technology is at the forefront of the independent living initiative. It’s the top tool to protect your home and give your family peace of mind. A smart security system allows your family to monitor entrance activity to your home, so they’ll always know you’re safe. Smart door locks let you lock your door no matter where you are. Give multiple security codes to caregivers and family members so you never have to worry about leaving spare keys or being away when visitors swing by. Smart Doorbell Most smart doorbells come with video surveillance, speakers and microphones for added home protection. Communicate with visitors from anywhere inside of your home to let them know that you’re available and on your way to greet them. If you’re hearing impaired, set up vibrational alerts on your smartphone so you’re always alerted when someone’s at the front door. In case of suspicious activity, view and record visitors at your door from your smartphone or tablet. Wifi Enabled Refrigerators Your smart refrigerator keeps track of your grocery list and delivers it to a participating grocery store near you. When you’re ready to see what you have on-hand, view the inside of your refrigerator from an app on your smartphone and receive notifications if your refrigerator needs maintenance. Automatic Stove Turn-Off Devices Have you ever wondered if you remembered to turn the stove off after you’ve left your home? Home automation technology could be your solution. Automatic Stove turn-off devices come with a timer, motion sensors and an automatic shut-off feature to ensure that your kitchen equipment powers down when you want it to. Set a time limit of up to 40 minutes, and your stove will automatically power down for your safety and convenience. Automatic Medication Dispenser You rely on your medications to keep you at your best. Automatic medication dispensers can ensure all of your medications are taken on schedule and according to the doctor’s orders. Your dispenser alerts you or your family of missed medications and even provides your physician with detailed reports regarding your medication activity. Smart Home Hub Living on your own is simple and convenient with a central smart home hub to command all of your smart devices. Sync your smart thermostat, entertainment system, light switches and more to your smart home hub to connect all your smart devices to a central all-in-one unit. You’ll be able to control all of your technology from the comfort of your living or bedroom. Also, easily give your family quick access to all your smart devices whenever they come to visit. Smart Thermostat Enhance the quality of living in your home with a thermostat that learns from your behaviors and gives you remote access. Conveniently pre-program your smart thermostat for when indoor or outdoor temperatures reach a certain degree and save money by tracking your energy consumption as you go. Many Smart Thermostats use easy-to-read LCD touch screens for effortless use, while standard thermostats can be confusing or difficult to read. Access your Smart Thermostat using your smartphone or connect to your smart home assistant for voice-controlled use. Key Finders When you’re ready to head out the door, losing your keys can be frustrating. Now you can locate your keys and other essentials you misplace using your smartphone or tablet. Most key finders come with a two-piece system: one that attaches to the items you lose track of the most and one to keep on your person. Attach the device to your keys, the remote control or your wallet or purse. Smart Light Switch Don’t worry about fumbling around your home in the dark. Control the lights in your home using timers or voice command with the help of your smart home assistant or via an app on your smartphone. These devices not only help shine a light when you need it most, they can also help cut energy costs and promote home security while you’re away. Health Monitoring Sensors Remote health monitoring is a non-invasive, cost effective method to receive healthcare services from the comfort of your home. Wearable health monitoring sensors communicate physiological data directly to your healthcare providers in real-time. Monitoring sensors can be worn in a variety of accessories to track heart health, exercise activity, chronic conditions and more.
According to Airbnb, the number of experiences hosted by people 60 years and older has grown by nearly 1,100 percent over the past year. In fact, the United States tops Airbnb’s list of countries with the most hosts in that age group. Retiring (and aging as a whole) is sometimes associated with loneliness and withdrawal Read the rest here: https://www.bankrate.com/retirement/retiree-guide-to-hosting-airbnb/
How to Make and Pay for Home Modifications to Enable Aging in Place
Americans are living longer than ever before and enjoying a high quality of life unparalleled in the history of any country. Your home is your castle and the last thing you want to do is live in a rental property or in a managed care facility. Instead, many seniors are opting to age in place. Technology and home renovation has come a long way allowing many modifications to be made to your home providing handicapped access. Many of these modifications do not need to be expensive and can include things such as bathroom handle bars, water faucet handles, and door knobs. Please visit the following page to learn more about making and paying for home modifications. https://www.payingforseniorcare.com/home-modifications/how-to-pay-for-home-mods.html
Update: How to Make and Pay for Home Modifications to Enable Aging in Place According to the AARP, an estimated 90 percent of seniors wish to age in place. That is, they want to spend the rest of their days living in their own home rather than in an assisted living facility. However, the homes Americans raise their families in aren’t necessarily the best options for aging in place. Multi-story homes with large floor plans become difficult to navigate as a senior’s cognitive-motor skills deteriorate. This puts a lot of older people in a situation they haven’t been in for years: buying a new home. Seniors looking for a new home may have some catching up to do when it comes to the latest innovations in the real estate market, but in the end it is nothing they can’t handle. If you or someone you know is a senior looking to purchase a new home, take the following advice into account to ensure you find the best place to fit your needs. Finding the Right Home Back in the day, looking for a new home meant scouring over grainy curb photos in the newspaper and real estate bulletins then spending your weekend pounding the pavement to check out the interiors. Today, seniors can cut down on the amount of legwork and browse houses on the market from the comfort of their current homes. Online real estate listings provide a comprehensive description of a property along with interior photos and videos that create a virtual tour. From an online portal, interested parties can easily schedule a walk through if they like what they see in the profile. When looking for a home to spend their Golden Years in, seniors should seek certain features: ● One-story, flat floor plan ● Less square footage (for less overall upkeep) ● Neighborhoods with HOA services such as lawn care ● Location near hospitals and other health care services ● Showers and slip-resistant bathroom flooring ● Large windows and plentiful light ● Wide doors and hallways ● Retirement-friendly tax zoning Finding a Real Estate Agent While seniors can easily browse homes through online marketplaces, all homebuyers can benefit from the professional services of a real estate agent. When it comes to finding a place with all the necessary accessibility features, a real estate agent can zero in on the best options and get the inside scoop on properties that haven’t hit the market yet. When looking for a real estate agent, ask around for one that has experience working with seniors to find their perfect home for aging-in-place. The best real estate agents work within a niche market and know how to appeal to their demographics’ wants and needs. Call the Jones Team at RE/MAX Corridor (210) 414-8439. Financial Options for Senior Real Estate Buyers While selling their current home can help finance the purchase of a new property, some seniors may need additional financing to fund things such as accessibility modifications and smart home features. Most homeowners spend between $1,604 and $14,168 nationally for accessibility modifications. Since most seniors live on a fixed income, it’s important to find funding sources that have reasonable interest rates. Even better, applying for government grants can pay for renovations and those who receive them don’t have to pay anyone back at all. Medicare, Medicaid and veterans programs offer funding for those who qualify, as well. *** While most seniors want to age in place, most homes are not optimal when it comes to accessibility and safety. When searching for a new home, seniors should look for flat floor plans and a good location. A real estate agent that works in the retirement niche can help find the perfect house. While selling a current place can help fund the purchase of a new home, additional funds may be necessary for safety renovations. Loans, grants, and Medicare funding are all available for seniors who need it.
Losing your husband or wife was more difficult than words can convey. There is no way to describe the sudden loss you experienced, and living in the old house you two shared can make the healing process even more difficult. Not only does the place remind you of your spouse, it’s now too big for you. There are too many rooms to clean, and you have space that’s going unused. That’s why it can make sense to downsize after losing a spouse. By moving into a smaller home, you can save money and move forward. You can also use this as a time to declutter by only keeping what you really need. Why Seniors Should Downsize In This Case When it comes to downsizing your home, there are two main reasons why you should: finances and moving forward. Bakerate.com shows why making a move to a smaller home can be a great financial decision for seniors. Take a big house that costs $250,000. By moving into one that costs $150,000, you can end up saving over $6,000 each year. When you’re a senior in retirement, the savings can really make life better for you. When you have recently lost your spouse, there’s another consideration. Staying in that old home can be a constant reminder of who you lost. This can delay or stop your grieving process and prevent you from moving past the mourning. When dealing with such a loss, moving forward is more important than ever. Remember that you’re not trying to forget the spouse — you’re only trying to move past the pain. Tips To Help Seniors Move More Easily After some thought and exploring your options, you’ve decided that downsizing has enough benefits to warrant trying it. You teamed up with a realtor and found the right home. It’s smaller, cheaper, and a great place to build new memories. Now you just have to pack. Before you begin, you need to sort through your belongings. After all, you’re moving into a smaller place. You can’t bring everything with you. When it comes to deciding what to pack and what to give away, an important key is to start early. Going through all your possessions takes time. Not only will you spend time reminiscing, you likely have many objects that you don’t need anymore. Donating these items can help you fit into your new space — and make moving easier. Yourstoragefinder.com has some great tips on how seniors can pack for a move: Break packing into smaller jobs. This way, you don’t feel overwhelmed with having to box up everything in your kitchen at one time. Ask friends and family for help. Not only does this help make packing easier on you, it takes less time this way. This can be very helpful when trying to go through the possessions of your late spouse. Create an “Open First” box. Include all the things you’ll need immediately in your new home, such as medication, reading glasses, documents, and toiletries. The Problem With Alzheimer’s Deciding to downsize and sorting through your belongings are both daunting tasks, especially after the death of your spouse. But if you have problems with Alzheimer’s or dementia, these can become especially stressful. Change is not a friend of Alzheimer’s. To help make this transition successful, the Mayo Clinic says to place familiar objects and photos around your new home. This can help remind you that you’re home if you get confused, and it also helps you feel at home. You Can Make This Move Moving to a new home is stressful. When you’ve lost a spouse, it can also lead to feeling bitter or afraid. But there are solid benefits for seniors who downsize their home. After you’ve decluttered your possessions, you can live more simply — and you can move forward with your life.
Tips For Senior Homebuyers: The Benefits Of Buying Over Renting
For many seniors, the decision to make a move after retirement comes due to a change in income and the need to downsize a bit. For some, buying a new home is a way to ensure that they are leaving something of value to their children or grandchildren. Building equity and having a place that is all your own, to do with as you wish, is one of the many benefits of owning a home. The process is a big one, however, and shouldn’t be entered into lightly. Think about your budget and how much space you need, as well as location; do you want a home that’s not too far from town? Or a home that’s only one story for ease of mobility? Write down all the things you want in a home and talk with your spouse or family members about each person’s needs. Here are some of the best reasons to buy a home rather than renting. You’ll be making a good investment Buying a home is an investment, not only for your own future, but for the future of your family as well. While some people invest in stocks, buying a home means you get the benefit of the home’s entire value rather than earning on only your down payment. You also get tax benefits from owning a home, such as writing off your mortgage interest and property taxes every year. These benefits often make owning a home as cheap or even cheaper than renting. For more information on how buying can help you save money, read on here. You can keep your monthly payment the same Rent amounts will increase over time, but if you lock in your interest amount at signing, you can ensure your mortgage payment stays the same unless you decide to refinance. This will help you stick to a budget and keep you on track no matter what life throws at you. You can go green Renters can certainly make improvements in their lifestyle that will allow them to live in a more energy efficient way, but homeowners can think on a bigger scale. Because the house is yours to do with as you wish, you can install energy-saving appliances, solar panels that will keep you from overspending on heating and electricity bills, and an energy efficient roof. Not only will these improvements help the environment, but they can save you money all year round. You can incorporate home automation Technology continues to explode these days, and there are so many products on the market that can benefit senior homeowners. Self-adjusting thermostats will help you keep your utility bills in check, while some of the latest home security systems you can install yourself and monitor from your computer, smartphone, or tablet. There are also new options for lighting that enable you to adjust your lighting from an app whether you’re at home or away. The available options are seemingly endless and offer a homeowner a safer, more efficient home. Save money Homeowners tend to save more money than renters do, in part because they know they need to be responsible and put cash away for unforeseen circumstances, such as when the air conditioning goes on the fritz or when they need to buy a new appliance. These occurrences aren’t something a homeowner wants to think about, but it’s important to remember that unplanned things happen from time to time. Socking away some savings will ensure that you can take care of these things without too much stress. “When you rent, the landlord picks up the taxes, insurance, maintenance and sometimes utilities. If you buy, plan on replacing the water heater some years, the back fence other years, the roof occasionally…if you can do some of it yourself, your cash outlays will be much less than the landlord’s. And you can do it yourself if you’re be willing to learn. Try Googling “leaky faucet” and you’ll find plenty of advice,” writes Bill Conerly of Forbes. Buying a home is a big decision, and it takes a lot of research and planning to find the right place for you. However, if you’re tired of renting and feel that you’re ready to make the move to home ownership, the benefits can certainly outweigh the negatives.
Facing the prospect of downsizing to a smaller, more accessible home can seem insurmountable. From carefully going through every treasured item you’ve accumulated for the last 20 or 30 years, to organizing and packing. Even picking a moving company feels like a monumental task. Add the emotions that come from leaving your long-cherished home and downsizing can quickly feel like a big downer. There are plenty of upsides to consider, though. For example, according to the Center for Retirement Research at Boston College, by cutting your housing-related expenses you can free up income that allows you to draw down your savings at a slower rate. And don’t forget, a new home can also help eliminate things that have become burdensome as you’ve aged, like stairs, lawn maintenance and too much space to keep clean. While plenty of sites offer a detailed checklist of all of the essential steps for downsizing, we’re going to take a look at a few specific tips to help you get started now. Selecting a Moving Company When selecting a moving company, it’s wise to remember the old adage, “you get what you pay for.” Oftentimes, the finest moving companies won’t be the least expensive. It’s important to avoid fly-by-night companies or companies with new names, and to be wary of moving scams. Keep these tips in mind: Research moving companies you’re most interested in using and set about doing an initial screening of each one. Look at various review forums, like the Better Business Bureau or Yelp.com. You’ll also want to check out the consumer advocacy site movingscam.com. Make sure you end up with estimates from a minimum of three companies. Always ask for a written binding estimate or a not-to-exceed-estimate so as to cap moving costs. Before you make that final decision, call the FMCSA’s Safety Violation and Consumer Complaints hotline at 888-368-7238 to check for any complaints. Understanding How Your Animal Will Handle The Move It’s never too early to start to thinking about how your pet is going to handle the transition. Here are some things you should do to help keep your animal settled during the process. Condition your pet by getting out a few boxes and suitcases in advance so your pet doesn’t associate those items with you leaving them. Train for any necessary behavior modifications in the smaller space. Talk to the vet about medication if your pet is displaying signs of anxiety. Either board your pet or leave them with a pet sitter on moving day. If possible, have a few of their items in place at the new home before they arrive so they have a familiar scent. Don’t Try To Do It All As you familiarize yourself with the various tasks of making the move, consider carefully what you want to take on versus what you may be able to outsource. The National Association of Senior Move Managers offers services that will step in where you want to be less involved, say packing for instance, or they’ll take you through the whole process from laying out your new space, deciding with you what you’ll keep and move, sorting, packing, moving, and setting up your new home. Take Care of Yourself Let’s face it, moving is stressful so there’s a few simple things you can do to make things easier on yourself. Give yourself plenty of time. Get plenty of sleep Listen to relaxing music as you sort, clean, or pack. Take time to enjoy things other than your move, such as exercise or reading. Eat healthy. As you set about downsizing, try to focus on the positive outcomes of your move, like less yard work, making new friends, fewer cleaning chores, and so on. And remember, getting settled in the new spot will take time just as it did when you moved into your current home. Allow yourself some downtime to recoup from the stress of the move, then get out there and make the most of your new neighborhood.
The Residential Lead-Based Paint Hazard Reduction Act of 1992 (Title X of Public Law 102-550) directed the U.S. Environmental Protection Agency and the Department of Housing and Urban Development to jointly issue regulations requiring disclosure of certain information about lead-based paint and lead-based paint hazards in residential real estate transactions. After considerable delay, those regulations (which appear at 24 C.F.R. Part 35 and 40 C.F.R. Part 745) were issued in final form on March 6, 1996, and are summarized below. NAR has developed a publication describing the requirements of the Regulations and how to comply with them entitled Lead-Based Paint – A Guide To Complying With the New Federal EPA/HUD Disclosure Regulations. This publication is available for $5.00 per copy (with discounts also available on larger orders), and can be ordered by calling NAR Customer Service at (800) 874-6500. Overnight or next day delivery is also available. 1. Properties To Which the Requirements Apply. The Regulations apply to sale or lease transactions of “target housing,” that is, residential property completed before 1978, with certain exceptions: Sales at foreclosure; Leases of property which has been inspected and found to be lead-based paint free by an inspector certified by a Federal or Federally accredited State or tribal certification program; Short term leases of 100 days or less where no lease renewal or extension can occur; Renewal of existing leases, so long as no new information about lead-based paint on the premises has come into the possession of the owner, and the required information was disclosed when the lease was originally created. (In the case of leases which automatically convert to “month-to-month” after a expiration of a fixed term, disclosure must be made when the lease first converts (if not made at the time the lease was created), but not each month thereafter); 0-bedroom dwellings; Housing designed for the elderly or disabled, but only it no children under the age of 6 reside or are expected to reside in such housing. Housing completed before 1978 has been interpreted to mean not only that which was completed and/or occupied before January 1, 1978, but also that for which a building permit was issued before that date, or if no permit was required, where construction began before that date. 2. Effective Date. The effective date of the Regulations is September 6, 1996 for owners of 5 residential dwellings (apartment or condominium units, as well as townhouses or single-family homes), and December 6, 1996 for owners of fewer than 5 dwellings. HUD has announced in Mortgagee Letter 96-29 that the form presently required to be signed in the case of properties financed by FHA-insured mortgage loans will not be required after December 6, 1996. 3. Obligations of Sellers, Lessors and Real Estate Agents. Sellers and lessors of housing to which the regulations apply must provide the information and perform the other duties described below to purchasers/lessees. Any agent hired by a seller or lessor to market the property must insure the seller or lessor’s compliance with the requirements of the Regulations. (a) The agent must specifically inform the seller/lessor of his disclosure obligations, described below. (b) The purchaser or lessee must be provided the following: All information the seller or lessor may have regarding known lead-based paint or lead-based paint hazards on the property; Copies of any prior reports of testing for lead-based paint or lead-based paint hazard evaluation of the property; A copy of the EPA publication Protect Your Family From Lead In Your Home, or a federally-approved equivalent publication; (c) Sales contracts and leases must include specific lead-based paint warning” language, which is specifically prescribed in the Regulations. (d) A “Disclosure and Acknowledgment” statement confirming that the disclosures have been made, signed by both parties to the transaction and the broker(s) involved, must be included as a part of the contract for sale or lease; (e) Property purchasers (but not renters) must be provided an opportunity to have the property tested for lead-based paint or lead-based paint hazards during a ten day period prior to the time when the purchaser becomes obligated under the contract, although that period may be modified by agreement between the seller and purchaser, or waived by the purchaser entirely. If a purchaser or lessee makes an offer to buy or lease prior to receiving the required disclosures, the seller or lessor may not accept the offer until the information is provided and the purchaser or lessee has the opportunity to review it and, if desired, to change the terms of the offer. Sellers, lessors and their agents have no duty to conduct testing of the property for lead-based paint of lead-based paint hazards. Their only obligation is to provide known information, as described above, regarding lead-based paint or lead-based paint or lead-based paint hazards on the premises. Copies of EPA’s publication Protect Your Family From Lead In Your Home may be purchased by calling (800) 424-LEAD. The publication is also available on NAR’s Website at REALTOR.com, on both the EPA and HUD Websites (EPA.gov and HUD.gov), as well as that of the National Safety Council (nsc.org.nsc/ehc/ehc.html) A copy was also published in the July, 1996 issue of Today’s REALTOR®. It is not copyrighted and may be photocopied freely. 4. Who Is An Agent? The Regulations define an agent as “any party who enters into a contract with a seller or lessor, including any party who enters into a contract with a representative of the seller or lessor, for the purpose of selling or leasing” a property to which the Regulations apply. The duty of an agent to insure the seller’s or lessor’s compliance with these disclosure requirements is imposed on any agent hired by the seller or lessor to market the property, including both listing agents and selling agents (whether they are buyer’s agents, subagents, or, it would appear, “facilitators” or transaction brokers), and excludes only agents retained and compensated exclusively by the buyer. 5. The Ten-Day Testing Period. Although the Regulations do not explicitly so provide, EPA and HUD have indicated that they intend that the 10-day testing period be conducted much like home inspection contingencies operate. That is, pursuant to language incorporated in the sales contract, the purchaser is permitted conduct such lead-based paint testing or risk assessment as he deems appropriate and, if the results are unacceptable, can
Webcast Recording: Using a Reverse Mortgage to Buy a Home
Posted in Buyers, Mortgage Financing, Professional Development, Working with Clients, by Sam Silverstein on February 24, 2017 REALTOR® Magazine recently hosted a live webcast about how reverse mortgages, also known as home equity conversion mortgages (HECMs), can be used to help seniors finance the purchase of a home in addition to their traditional purpose of enabling people to borrow against the equity in a property where they already live. The program took place on Feb. 22, 2017. Panelists included Scott Trembley, CEO of The Trembley Group, a real estate firm in Myrtle Beach, S.C., that handles home purchases with HECMs; and Frank McInerney, a loan specialist with Reverse Mortgage Funding in Bloomfield, N.J. Jon Boughtin of NAR Communications hosted the program. More information about reverse mortgages Find a reverse mortgage lender