As we start the new year and are ready for a fresh start, here are five things to think about that are healthy for both you and your home!
1). GOODBYE PMI
With a rise in market values, equity in your home may have climbed to the point where you no longer need to pay private mortgage insurance (PMI), which usually is applied to loans where the loan to value exceeds 80%. It’s advisable to contact your mortgage lender if you currently pay PMI in order to see how and if you might be able to get it eliminated.
2). REQUAL YOUR PREQUAL
Looking to purchase property soon? If it’s been more than 60 days since you secured a pre-qualification letter from your mortgage lender, it’s time to re-visit that discussion. Rates continue to change, and your financial application may have changed some as well, so it’s important to keep your pre-qualification status current…especially when it comes to being fully ready and prepared to make an offer on your next property.
3). INSURANCE ASSURANCE
With the “hard” insurance market pushing up premiums in certain areas of the country (including the Lowcountry of SC), it’s always a good idea to “shop” your policies each year. Connect with your current (or even alternative) insurance agent to inquire if there might be some options for you to consider, which could possibly improve your premiums, deductibles, and/or coverage. Doing so well ahead of your renewal date will give you time to consider these options and make a concerted decision.
4). SMOKE IS NO JOKE
We often wait until daylight savings time when it has long-since been popular to send/receive reminders about changing the batteries in your in-home smoke detectors…but it’s a much better plan to make this part of your New Year or Spring-Cleaning program. While you are at it, consider installing a carbon monoxide sensor if you don’t already have one, and also check the status of other battery operated systems such as security system panels, security cameras, wireless doorbells etc. It is also a good time to clean lint build up out of your dryer vent. If your vent is clogged with lint, the dryer will not only take longer to dry clothes, it will also increase your electric bill and create a fire risk.
5). PURGE URGE
It’s been said that the journey of 1,000 miles begins with one step, and the same applies to “downsizing” your stuff. Committing to an annual clearing out of your closet, your kitchen “junk drawer,” your basement/garage, your filing cabinet, and your attic. These areas tend to be targets of accumulation, and keeping them purged of unwanted items on a regular basis will make your daily use of those spaces more efficient and enjoyable….and you are sure to save yourself (and maybe others) a LOT of pain down the line when it comes time to move/downsize.
For our list of the Top 20 Things To Throw Away NOW, click here!
We are here to help! If you find yourself needing resources for vendors to help you, please reach out. We want this to be your best year yet.