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The interest rate on your mortgage will have a major impact on the total amount youll pay over the life of the loan. If youre buying a home that you plan to live for a long time, reducing your interest rate by purchasing mortgage points could allow you to save tens of thousands of dollars.

How Do Mortgage Points Work?
Mortgage points, or discount points, are fees that you can pay to the lender at closing in exchange for a reduction in your interest rate. One point costs 1 percent of the mortgage amount. The amount that the interest rate is reduced depends on the lender. Each point typically reduces the interest rate by one-eighth to one-quarter of 1 percent.

Should You Buy Mortgage Points?
The longer you own your house and make monthly mortgage payments, the more of an impact points can have. To figure out if it makes sense to purchase points, you need to look at your specific situation and crunch the numbers.

Compare the amount your monthly payments would be if you didnt buy any points and paid the full interest rate to what youd pay if you bought points. Divide the amount youd spend on points by the amount youd save on interest each month to figure out after how many months the savings would equal the cost of points. If youd stay in your home after the break-even point, it would make sense to buy points. If youd likely move before then, youd be better off not buying points.

If you chose an adjustable-rate mortgage, points would generally only lower the interest rate during the fixed-rate period at the beginning. Figure out if youd break even before the interest rate changed and you lost the reduction from points.

Putting down 20 percent of the purchase price could allow you to avoid paying for private mortgage insurance (PMI). You might save more by making a large down payment and avoiding PMI than you would by purchasing mortgage points to lower the interest rate. Run the numbers to figure out what would be better for your specific circumstances.

Buying mortgage points might also lower your tax liability. Discuss your specific circumstances with an accountant.

Figure out If Points Are Right for You
If you plan to stay in your home long-term, lowering your interest rate could help you save a lot of money. If you dont plan to stay there long enough to break even, youd be better off not buying points. Making a larger down payment to avoid PMI would be the better option in some cases. The only way to decide which is the right move is to consider the cost of the house you want, how much points would lower your interest rate, and how long you expect to live in the house, then do the math.

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

Published with permission from RISMedia.

Everyone loves the pristine look of a white kitchen. From traditional elegance to contemporary cool, the monochromatic color scheme lends itself to a variety of styles in the cooking space. If youre thinking about designing a white kitchen in your new home, here are a few tips to help guide you in the right direction.

Go Big On Marble
Marble has long been, and will continue to be, one of the most luxurious materials you can bring into your home. In particular, Calacatta marble is a hallmark of the white kitchen thats perfect for creating sophisticated countertops and backsplashes. The deep veining pattern is a good way to provide a sense of depth so that your cooking area doesnt feel too stark.

Warm It Up With Wood
Whether its white oak floors or wood beamed ceilings, a little bit of wood can go a long way in a white kitchen. By adding natural material, you can easily warm up the ambience and make it feel like a more inviting space for the family to gather in. A careful balance between white and wood in the kitchen creates an effortlessly timeless aesthetic.

A Touch of Texture
When youre sticking to one color, a strong sense of texture becomes all the more important in your kitchen. There are plenty of different ways that you can add it, like terrazzo floors, exposed white brick walls or beadboard cabinets. Recently, concrete floors have become a trendy look in white kitchens, but keep in mind that theyll have to be sealed regularly to avoid staining.

Introduce Accents
If were being honest, a white kitchen doesnt have to be entirely white. In fact, introducing an accent color is advised to mix it up a little bit and give the eye something to rest on when one enters the room. This can be anything from barstools and pendant lights to colorful kitchenware that you keep on display with open shelving.

Maximize Natural Light
Natural light has a serious impact on the way a white kitchen feels. Sun exposure helps to create a light and airy atmosphere and without it you run the risk of the space feeling a bit cold. Likewise, focus on warm lighting to set the tone in the evenings after the sun goes down.

Published with permission from RISMedia.

Every time a prospective homebuyer walks onto your property, there are a few things that they will absolutely not put up with. These deal breakers can be anywhere in the home, but there is one area that we often forget about: the backyard.

The backyard is very important to family life. After all, this is the place where children will enjoy their childhood and play in a safe and secured environment. Most homebuyers prefer single-family dwellings solely because of the usable outdoor space! Take some time to focus on your backyard. After all, there are ways that you can update your backyard without spending money.

Pool in the Backyard
To many buyers, a pool can be seen as an expensive maintenance fee that they will have to pay for on top of the mortgage. Once they see a pool, they’re going to start doing some calculations in their head thinking, “Now how much is this going to cost me?” Whether it’s above or below ground, a pool can raise a flood of concerns over child safety.

Size of the Plot
The appraisal of your home is typically made in two elements, the plot size and the actual value of the physical home. That said, the size of your yard comes into play so you want to make sure that you spend a generous amount of time prepping your backyard for visitors. Getting rid of clutter and opening up the yard to make your lot feel larger will help you when it comes time to sell.

Pet Products
Hide dishes, play toys, and photos of your pets as this may make the buyer feel like the home is dirty, especially for a homeowner that doesn’t like the idea of having pets inside the house. This will be a deal breaker if the buyer is allergic to cats and/or dogs.

Landscaping
With the price of water rising rapidly and droughts in California, grass isn’t as appealing as it once was. When frugal buyers see grass, they see a sky-high water bill that will eventually lead to a dead yard and a new project to be undertaken. Think about landscaping trends like xeric landscaping, native plants, and artificial turf to make your home more appealing to all home buyers.

Leaving Backyard Photos Out of your Listing
This is a rookie mistake. If you leave out photos of your backyard, homebuyers will think that you have something to hide. If you have a gorgeous yard, why wouldn’t you want to showcase it in your listing? Are you hiding any skeletons in the closet?

Noisy Neighbors
Now this may be seen as something outside of your realm, but it may be worth a knock on the door to let your neighbors know that you will be showing your house at a given time. Rowdy neighbors can be an instant turn off to potential buyers. Make sure your neighbors’ parties are held on a different day than your open house to give buyers a better peace of mind. After all, they will share a fence with these neighbors for an indefinite period of time.

So What Are Homebuyers Looking For?
A survey conducted by the National Association of Home Builders found that new homebuyers are looking for exterior lighting, lots of trees, a deck or patio, and a fenced in yard. Beyond the basics, an outdoor amenity that is rapidly gaining in popularity is the outdoor fireplace/fire pit, outdoor kitchens, and the outdoor living room.

Investing in the backyard can net you some of the highest returns. Knowing what real estate appraisers (and homebuyers) are looking for will help you sell your property faster. That said, the exterior of your home is just as important as the interior of your home. Many people assume that the front and backyard aren’t crucial to the buying process so they overlook these pitfalls. Make sure that your backyard does not have any hidden deal breakers that could steer away new bids!

Published with permission from RISMedia.

With the weather getting cooler in many parts of the country, house hunters start to pay attention to different features of the homes they are looking at. For example, a house that offers a heated screened porch all of a sudden moves up on people’s “must-have” list.

Not only do screened porches offer a sanctuary in an age of increasing concerns of mosquitos and other bugs, but they allow people a little feeling of “escape” from the home”an area where people can relax and read and just put their troubles behind them.

A screened porch obviously has many benefits when it comes to weather. It protects from rain and too much sun, and when heated properly, allow people to enjoy a winter day while sitting inside. Though adding in storm windows is recommended if you’re going to make regular use of it in the winter.

If you’re putting your house on the market this fall and already have a porch, adding screens might be a way to attract some new people, as it’s an amenity that has been growing in popularity. It’s not too expensive and can be done relatively fast.

Or if you’ve recently purchased a home, you might want to build your own screened porch. There are numerous options when deciding on the materials to build with. Most suggest designing the porch in three phases: flooring, exterior materials and interior trim. Everything from pressure-treated Yellow Southern Pine to vinyl or up-cycled composites can be considered.

It’s important to know what you want your ceiling to look like as well. Flat ceilings may give a screened porch that interior room feel, whereas a vaulted or cathedral ceiling is spacious, allowing for better ventilation.

Don’t forget doors. If you want one leading directly to the house, it may require some extra construction. But if you simply want it to wrap around the side for easier entry from the exterior of the house, aluminum doors are recommended because wood doors tend to warp over time.

Now, even though this might seem like a project you might want to take on yourself, utilizing a professional contractor is probably a safer bet. They will know the zoning laws, can deal with any issues that might pop up and can build it in less time.

Buy some comfortable porch furniture, add in some music and before you know it, you’ll be enjoying spending your free time in another great part of your home.

Published with permission from RISMedia.

What is wabi-sabi you ask? Its an ancient Japanese philosophy and way of life thats ready to transform your living space. At the core of wabi-sabi is the notion that nothing is permanent nor perfect. When applied to interior design, the concept is focused on creating a simple environment that celebrates natural beauty and puts you at peace with your surroundings.

If this sounds like it could be something for you, then here are a few tips to bring wabi-sabi style into your home.

Imperfection is Beautiful

A main pillar of the philosophy is about embracing the quirks and imperfections of life. An antique tray thats chipped or a handmade mug thats slightly lopsided, for example, is not flawed, but authentic. In many ways, its about accepting things that are beyond your control and finding the beauty in them.

Look to Nature

Natural materials convey a sense of impermanence that embodies wabi-sabi. Reclaimed woods, distressed leathers, and stones that have developed a patina are a reminder that life is constantly changing and nothing lasts forever. With age, however, these items often tell a story and become more significant than when they were new.

Live Simply

Wabi-sabi subscribes to the idea that every item in your home should contribute to the overall energy of the living space and make you feel good. In some ways, this overlaps with minimalism because it means you could probably live without all that extra stuff that ends up in piles around the house. On the other hand, you dont necessarily have to strip your aesthetic down to the bare bones. As long as an object holds true value to you, its worth keeping. The goal is for your home to feel calming and evoke nostalgia. Some even describe it as a sense of melancholic beauty.

Ultimately, wabi-sabi is for those who see that true beauty and wisdom cannot be bought, but come with age, and those who apply its principles to their home will be rewarded with a cozy environment thats thoughtfully curated.

Published with permission from RISMedia.