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If youre an avid art collector, then you are probably aware that the biggest threat facing your collection is damage that occurs while in transit or during installation. However, the last thing you want to deal with during an already stressful moving process is having one of your favorite works of art improperly cared for. When its time to package the collection and ship it to your new address, here are few helpful tips to keep in mind.

Get Art Insurance
Before you do anything, make sure that every valuable item is insured because even the act of packing can potentially harm a delicate canvas painting. Fine art insurance will keep you covered in the event of catastrophe and, while youll hopefully never need it, the fact of the matter is that accidents do happen when priceless artwork is being transported.

Art Handlers
Unless youve received professional training, this is probably not the time to show off your DIY skills. Moving a masterpiece is a serious undertaking and there are services readily available to handle it every step of the way. Whether its just one piece or an expansive collection, these companies will use custom-made crates to mitigate risk and carefully install your art upon arrival at your new home.

Qualified Movers
If you have a beloved collection but may not feel its necessary to bring in professional art handlers, at the very least its important to make sure that your moving company has experience with valuable items. From inherited antiques to your childrens first drawings, irreplaceable items come in many forms and your moving company needs to understand the significance of each and every piece.

Climate-Controlled Storage
Sometimes, logistics require that your artwork be put in storage, either for short or long term, before being installed in your new home. If thats the case, its essential to choose a facility that knows how to care for precious works and can provide climate-controlled storage.

Published with permission from RISMedia.

Maintaining your homes curb appeal shows more than pride of ownership; it shows respect for your neighbors. Plus, when or if you decide to sell, a well-maintained home means it will sell faster and likely for top dollar. Similarly, maintaining your homes interior is likely to pay off in the end.

Real estate experts shared these eight missteps that could cost you in the long run with House Beautiful Magazine:

Landscaping Without Thinking Ahead. Trees planted too close to the house or driveway without much thought about how big theyll get can cause major problems later, such as roots causing breaks in the pavement or interfering with sewer or water lines.

Letting the Entryway Languish. Unkempt shrubbery around the front entry, or a door that needs updating, makes people wonder what else has been let go inside.

Choosing Funky Paint Colors. Dont choose an exterior paint color that is too far afield of neighboring homes. And stay away from contrasting trim colors that distract, instead of attract, the eye.

Neglecting the Small Stuff. Watch out for dirty windows, torn screens or broken light fixtures that show a distinct lack of care.

Hanging on to Old Appliances. Pay attention to the age and quality of your kitchen appliances. A stovetop too old and scratched to be cleaned properly is a turnoff. Also, appliances that arent energy-savers are costing too much money to run.

Skipping a Deep Clean. Details matter when it comes to home care. Look out for dirt in the window tracks, dirty grout in the tile or badly stained carpets.

Thinking Too Small. A small bathroom will seem smaller when tiled with small tiles rather than with larger ones. Peruse decor magazines for ideas that help to open your space.

Neglecting Wood Floors. If you cant afford to refinish them, have them buffed every few years.

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If youre lucky enough to have a spare bedroom, you may want to think of it less as a rarely used landing spot for guests or a place to store extra stuff, and more as a blank canvas – a pleasant spot you can use for rest, relaxation, hobbies or exercise, or even as a money-making option.

Consider these inspiring ideas from room designers and creative thinkers:

Get crafty – Do you sew occasionally? Like to draw or paint? Love to do amazing gift-wraps? Fill the room with smart choices of furnishings, storage, tables and accessories to make your hobby more fun than ever.

 

Make it personal – Turn the room into a maam- or man-cave, with comfy furnishings, a TV and sound system and anything else you need to make it a cozy, personal retreat.

 

Make it a study – Create a cheerful home office space where you or your kids can pay bills, read online or study without interruption. Install a work counter/desk across one wall, add enough chairs and supply drawers, plus computers and printers as needed.

 

Build your own library – Booklovers can line the walls with shelving, collect books to their hearts content, install a chair or two and some great reading light, and revel in a private library.

 

Make music – For parents and/or kids with a passion for making music, lay down thick carpeting to soak up sound, add a few comfy floor cushions for musically inclined visitors and make room to jam with friends or solo with as many instruments as you wish.

 

Start a garden – Wish you had a greenhouse? You can cultivate seedlings in that spare room from the waning days of winter through early spring. Buy ready-made shelving and add light fixtures and supplies appropriate for nurturing baby plants.

 

Sweat it out – Whether you practice yoga, run or do strength training, you’ll be more motivated, better disciplined and more excited about your workouts in a dedicated exercise space. Drag that treadmill out of the basement, add all the exercise equipment you want and go!

 

Airbnb it – Make a few extra bucks by renting out your guest room through Airbnb. Outfit the space with attractive towels, linens and toiletries, and make sure your home’s Wi-Fi password is prominently displayed.

Published with permission from RISMedia.

If, as is often the case, your home is your biggest investment, it stands to reason you want to protect it against damage, theft or other disasters. Your lender, who also has a stake in the property, wants to protect it, too. In fact, they will require proof of insurance coverage before you can close on the purchase.

If you are ready to purchase homeowners insurance, here are six things you need to know:

1. There Are Different Types of Policies.

Policies differ in terms of what they cover, so be sure you understand what you are buying. Does the policy protect you in case of any disaster except those omitted in the policy, such as flood damage? Does it include total replacement coverage? Coverage if someone is hurt on your property, and/or loss of personal belongings? The more substantial the coverage, the more the policy will cost.

2. Not Everything Will Be Covered.

If youre covered up to $2,000 on personal belongings, for example, and your $4,000 ring is stolen, you wont be fully reimbursed. But if your luggage is lost or stolen while you are traveling, you will be covered up to the policy limit.

3. Home Maintenance Counts.

Damage incurred because of homeowner negligence, such as failure to fix a longstanding slow leak, will likely not be covered. Also, some companies are leery about dog breeds known to bite, so be sure your dog is covered”and keep potentially dangerous breeds contained.

4. Your Credit Score Counts.

Except in Maryland, California and Massachusetts, insurance companies use credit-based insurance scores to predict losses and determine which customers are more likely to file claims. The scores also evaluate your outstanding debt, length of credit history, whether you pay bills on time, etc. The higher your insurance score, the lower your premium will be.

5. Document What You Own.

Keep receipts and appraisals for your belongings and maintain a list of personal possessions and their value.

6. Ask About Discounts.

Will your premium be discounted if you buy other insurance, such as auto or life insurance, from the same provider? Will making home enhancements, like adding a security system, lower your premium?

Published with permission from RISMedia.

A reverse mortgage is a loan designed to help older homeowners access home equity while using their house as collateral. This can provide financial flexibility and security in retirement, but its important to understand the terms.

Who Is Eligible for a Reverse Mortgage?
Reverse mortgages are intended for people who own a house outright or who have a large amount of equity. A Home Equity Conversion Mortgage (HECM) is the most popular type of reverse mortgage. Its insured by the federal government and widely available through Federal Housing Administration (FHA)-approved lenders.

The youngest borrower for a reverse mortgage must be at least 62 years old. The U.S. Department of Housing and Urban Development sets financial eligibility criteria. The borrower must use the house as a primary residence, pay required property taxes and homeowners insurance premiums, and maintain the house according to FHA requirements.

How Much Money Can You Get and How Can It Be Used?
You might not be able to borrow an amount equal to your homes full value, even if its paid off. The amount of the loan depends on the age of the youngest borrower, the current interest rate, the houses appraised value and lending limits set by the government. You may receive money in a lump sum, equal monthly payments for a fixed time period, equal monthly payments as long as you live in the house, a line of credit, or a combination. Reverse mortgages have several fees that can make them expensive.

Seniors use funds from a reverse mortgage for a variety of purposes, including medical bills, home repairs and emergencies. If you have an outstanding mortgage balance, proceeds from the reverse mortgage must be used at closing to pay off the existing mortgage first.

Will You Have to Make Payments?
Youll never owe more than the house is worth, no matter what happens to property values, and you wont have to make monthly payments. A reverse mortgage generally doesnt have to be repaid until the last borrower dies or moves out, but the loan may come due if the borrower no longer uses the house as a primary residence, falls behind on property taxes or homeowners insurance, or doesnt properly maintain it.

If you die, your spouse may be able to continue living in the house, even if he or she wasnt a co-borrower, or the estate may repay the reverse mortgage or sell the house. Any home equity in excess of the loan balance will become the property of the estate. If the sale price isnt enough to pay off the reverse mortgage, the lender will take a loss.

Is a Reverse Mortgage Right for You?
A reverse mortgage can let you tap into your home equity and live comfortably in retirement, but it can be a risky financial move. Make sure that you understand the rules and fees and that you can afford to pay for property taxes, homeowners insurance and maintenance. Discuss the pros and cons of a reverse mortgage with a financial planner.

This article is intended for informational purposes only and should not be construed as professional advice.

Published with permission from RISMedia.