You’ve seen the promos on TV [...]]]> A finished basement can be a fantastic addition to a home. People have successfully transformed their gloomy cellars into brightly-lit, versatile spaces for entertaining or just relaxing. Long for a basement overflowing with comfort and style instead of dust and clutter? A basement remodel might be for you!

You’ve seen the promos on TV and online, from companies showing how to turn basements into entertainment centers, home offices, or extra sleeping quarters. Some offer to do it for you. They sure make it look easy! And those before-and-after photos are fun and inspiring. But before you start nailing up the drywall, here are a few things to consider:

Finishing a basement is a major home-improvement project.

Done properly, it can add significant value to your home right now, and at time of resale. It’s an attractive idea, especially when it’s cold outside and the family finds itself all cooped up in the living room. But prepping a basement for year-round living is neither simple nor cheap.

What do you want to get out of your new basement space? 

Now, be honest here. Do you really need a top-of-the-line home theater with leather seats, or simply some beefed-up lighting and improved storage? Does a big basement rehab make sense for the way you and your family live?

Is your basement a good candidate for renovation?

Time for a reality check. Your building inspector will require a minimum distance between the floor and ceiling. Codes vary, but it’s probably at least 7′ 6″. Remember, your new ceiling will drop below your lowest-hanging beam or duct; your concrete floor will get covered with studs and insulation, topped with plywood and finished flooring. Now measure it: is there still room to stand up?

Preparation is key.

• You’ll need to test for the presence of radon, mold, and excess moisture. You may need to install specialized systems to keep all three at bay. Local testing and remediation companies can be found online. Your builder will insulate the walls and floors to keep the heat in and the humidity out.
• Look into building codes and permits ahead of time; get your builder help you. In particular, your remodeled basement will need more than one exit. (Those little casement windows don’t count.)
• Figure out what you’ll need for heat. Ask a home-heating professional for advice. Basements are usually damp and chilly, and insulation by itself might not be enough to turn “chilly” into “cozy.” See gardenweb.com for real-life stories!

Man-cave, here we come!

If all of this is for you, then go ahead with your design plan. As with any remodeling job, you’ll cut costs by doing some of the work yourself. But you’ll probably need a builder, who can also help coordinate the other professionals you’ll have working on the project. Keep these points in mind as you go forward:

• Choose a builder who’s experienced with basements and knows your town’s codes. Don’t make the mistake of going with whoever’s cheapest, because it’ll cost you in the end. You want a healthy, safe living area that’s an asset to your home . . . not a headache and a liability.
• Plan for a suspended ceiling, to afford easy access to plumbing and wiring.
• Up to a point, you can never have too much artificial light. Plan to flood the area with illumination from recessed fixtures.
• No need to finish the area where your furnace and washer/dryer are. Just wall them off.

Here are a few Q&As to get you started:

Q. What is a point?
A. A point is interest paid up front in order to get a lower mortgage rate from the lender. A lower mortgage rate means lower [...]]]> What should you know before deciding whether to pay mortgage points or not? Lots!

Here are a few Q&As to get you started:

Q. What is a point?
A. A point is interest paid up front in order to get a lower mortgage rate from the lender. A lower mortgage rate means lower monthly payments and a reduction in the total interest paid over the life of the loan. A lower monthly payment may also help you qualify for the loan.

Q. What does a point cost?
A. One point is 1 percent of the loan amount, not the purchase price. If you borrowed $300,000 to buy a $350,000 house, one point would cost 1 percent of the loan amount, or $3,000.

Q. How do I pay points?
A. Points can be part of your closing costs, paid upfront if you have the means, or may be rolled into the loan amount.

Q. When will I see the benefit of paying points?
A. You will start reaping the rewards when your accumulated monthly savings on the lower interest rate meet or exceed the amount you paid in points. (Break-even point.)

A rule of thumb is that the average break-even time for a fixed rate mortgage is five years. So, the longer you’ll be in the home beyond that time, the more that paying points make sense.

Click here to estimate how long it might take you to break even.

And remember, mortgage points may be tax deductible if they meet certain requirements. Be sure to check with your tax advisor.

The answer depends on many factors, including — but not limited to — the state of the real estate market, what you can afford for a down payment, your total monthly debt expenses, your credit score, your job security, and how long [...]]]> Should you buy a home of your own, or just keep renting?

The answer depends on many factors, including — but not limited to — the state of the real estate market, what you can afford for a down payment, your total monthly debt expenses, your credit score, your job security, and how long you’re likely to stay in a new home.

There’s no “one-size-fits-all” answer, but you can get a pretty good idea by using our Rent vs. Own calculator, which lets you calculate the difference between renting and buying a home, using just basic rent/mortgage information.

The estimated related costs and recommendation provided by the calculator will help you on your way to making an informed decision.

Window treatments are used for a variety of purposes, including privacy, light control, and interior décor, and making the perfect choice isn’t as easy as it might seem.

Curtains and blinds — the [...]]]> Trying to decide whether it will be curtains or blinds in your new home? Or, maybe a combination of the two?

Window treatments are used for a variety of purposes, including privacy, light control, and interior décor, and making the perfect choice isn’t as easy as it might seem.

Curtains and blinds — the two most popular choices today — each have their own advantages and disadvantages.

Here are some things to consider:

Health issues

If you or a family member are bothered by asthma or respiratory issues, you should shy away from blinds, which are notorious dust-collectors. Blinds can also cut down on air circulation in the room — not always healthy!

If you’re “locked in” to blinds for now, be sure to plan to vacuum them frequently. (You should also wash curtains frequently, as they are often home to spiders and their webs, although you can’t always spot them.)

Ease of installation

Curtains, with just a simple curtain rod to install, win hands-down over blinds, which require measuring and buying cut to width, considerable hardware installation, and then adjusting again at home to assure the proper length.

Ease of cleaning

It’s easy to vacuum blinds every week or so to keep them clean, while curtains have to be taken down, washed and dried, and hung back up. Draperies usually require dry-cleaning.

Cost

The general consensus is that blinds are more economical than curtains. Some people combine the two by installing blinds, and then adding just a valence as décor — a practical compromise.

Ambiance

Curtains are “warmer” in appearance; blinds can appear institutional. Curtains can also be found in a wealth of fabrics, textures, colors and patterns, while the choice of color blinds is limited.

Privacy

Blinds can be adjusted so you can see out, but no one can see in. They can be opened all the way, or closed all the way. Curtains are stationary!

Warmth

Curtains can help block drafts, but blinds usually do a better job of it. In wintertime, they can be left open during the day to let the warmth of the sun in; in the summertime, they can be kept closed during the day to keep it out.

Light-blocking

Blinds are better at blocking out the light, so they are a better choice for those who need to sleep during daylight hours and also better in homes where outside lights are a problem. Blinds can also provide a barrier against outside noise.

Today’s trends

Curtains and blinds have come a long way. To showcase your own personality and make a powerful statement when it comes to window treatments, consider these five new trends now in vogue.

Safety first

No matter what you decide on, look for window treatments with wand controls instead of long cords, ties or chains if you have small children or pets in your house.

Well, don’t be intimidated! Real Simple offers a helpful do-it-yourself primer that shows you how to paint a room in six easy steps.

And, all it takes is these six basic “tools”:

The style you choose depends on what [...]]]> Okay, you’re in the market for a new sofa. The minute you hit the showroom, you’re going to be faced with a multitude of style options, but a minimum of upholstery choices: basically leather, microsuede (a polyester microfiber fabric with a suedelike, water-repellent finished surface), or fabric.

The style you choose depends on what you like, what works with what you already have, what you have room for, and what you can afford.

But, how about the upholstery? Which is the best choice? To help you make that decision, we rounded up some “user comments” from various online sites in the category of leather vs microfiber vs fabric:

Leather

People who love leather say :

• Good quality leather is timeless and classic.
• Leather is soft , buttery and comfortable.
• It’s easy to wipe clean.
• Leather ages well.
• It’s natural, not synthetic.
• Leather has a “presence” and makes a statement.

Those who loathe leather say:

• It’s cold in the winter and sweaty in the summer.
• It’s prone to rips, tears, and punctures.
• It can be slippery.
• It sticks to you.
• Poor quality leather can crack easily.

Microfiber

People who are mad about microfiber say:

• It’s wicked easy to clean.
• Animal fur, dust, and spills are all easy to clean.
• It comes in a variety of colors and patterns.
• It’s very durable.
• It’s soft and cozy.

Those who moan about microfiber say:

• It’s hot and sweaty.
• It’s a fad that will be outdated and soon scream “the late 2000s” in decorating circles.
• It leaves indents of where you were sitting.
• It is prone to pilling and fraying.
• It’s neither biodegradable nor renewable.
• It’s flammable.
• It’s not for people with allergies; dust and pet hairs can invade the fibers.
• Each piece has a special cleaning code: W, S, S-W, or X. Ignore the code and you’re inviting disaster.

Fabric

People who fancy fabric say:

• Fabric offers color and design options.
• Treated fabrics can stand up to spills and stains.
• Fitted slipcovers allow more design options.

Those who fret about fabric say:

• It always tends to look dirty.
• It doesn’t work well in high-traffic areas.
• It stains easily.
• It attracts pet hair.
• Design fabrics can overwhelm a room and limit décor choices.

We’ve rounded up these opinions just in case they zero in on something you might not have thought about. But, now it’s up to you. Do your own research; consider the pros and cons; and then make your choice.

A candidate [...]]]> Are you always scouring the Web for decorating and design ideas? Do you bookmark recipes and crafts you’re fond of, or want to try? Are you always referring friends and family to things you like that you think would interest or inspire them, too, whether it’s food or fashion, snapshots or sayings?

A candidate for Pinterest!

If that sounds like you, you’re a perfect candidate for Pinterest, “an online pinboard, where you can organize and share things you love.” And, you won’t be the only one. The site now has over 4 million fans pinning and repining pictures, videos, and links on any topic imaginable. You’ll find lots of photos, and very little text. You can follow your favorite people or subjects, and even tweet or share pins on Facebook.

Only one caution: Pinterest can be addictive. It’s hard to tear yourself away once you’re hooked!

USAToday, says Pinterest is now one of the Web’s Top 10 social networks. Time magazine ranks it among the Top 5.

Something for everyone

While the lion’s share of prolific “pinners” appear to female, you’ll also find male fans sharing their interests. And, more major brands are discovering ways to use the platform, to attract new audiences and cement relationships with current admirers.

Technically, you have to be invited to join by someone who is already a Pinterest user, but the company will also accept your request for an invitation and get back to you in a few days.

Start Pinning!

Once you’ve received your invite, you’re ready to set up your own Pinterest account and your own “boards,” or topic pages. You’ll find a number of tutorials on the Internet, including A Beginner’s Guide from Mashable.

Looking for inspiration now that you know what Pinterest is all about? Check out 10 Cool Pinterest Accounts You Should Be Following.

Why not use our Prepayment Savings calculator to help you decide.

It will give you a quick estimate of how [...]]]> Your job is secure, you have no outstanding debt, and you have an emergency fund to fall back on. Should you be making additional payments in order to pay off your mortgage sooner?

Why not use our Prepayment Savings calculator to help you decide.

It will give you a quick estimate of how much sooner you’d own your home, and how much you would save in interest.