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If youre about to put your home on the market, there are probably some repairs and changes that need to be taken care of to ensure you get top dollar for your home.

But before you begin tearing your home apart, its important to understand that some home improvements can be categorized as major and necessary, while others are more minor in nature.

When picking which improvements to take care of prior to listing your home, remember that not all home improvement projects offer the same return on investment. Here are some tips:

Cosmetic Repairs
Most prospective homebuyers know to look beyond cosmetic damage (peeling paint and scuffed floors) when theyre looking to purchase a home. More importantly, theyll want to know that the major systems in the home are in good working condition, such as any and all plumbing and electrical components.

Luxury Fixes
If youre updating your kitchen or bathroom before listing your home, make sure you’re not going overboard on the finishes unless it’s a luxury listing. Quartz counters and a new double wall oven in the kitchen may not get you your money back when you sell, so keep it modern, but also keep the costs in mind.

Trendy Repainting
A fresh coat of paint will work wonders when it comes to giving new life to any room in your home, but if youre going to take on this project, its best to not get too colorful. If youre serious about selling your home, youll want to attract as many potential buyers as possible, so stick to neutral colors that will appeal to the masses.

Published with permission from RISMedia.

The idea of a splurge means different things to different people, depending, in great measure, on how much “discretionary income” you have to spend. But while the things we choose to splurge on are a matter of choice, there are some luxury creature comforts that can make nearly everyone happier

When it comes to your home, decorators say splurging on items that look better, last longer, and/or increase our personal comfort are often worth more than they cost.

• Luxury Linens ” A good French linen duvet set, which will set you backabout $250, is an heirloom-quality splurge that will get softer as you use it, is strong enough to withstand time and will keep you cooler in summer and warmer in winter. The same is true for expensive Egyptian sheets, which wear better than their cheaper cousins and have a lovely, silken feel.
• Turkish Cotton Towels ” Aside from lending a luxurious, spa-like feel to your bathroom, these hefty towels are more absorbent and dry faster than ordinary towels. At $50 or $60 apiece, they are sure to increase your bath time enjoyment.
• Wireless Speakers ” They will let you bring your favorite podcast into the kitchen while you cook, your soothing white noise to the bedroom nightstand or music to almost anywhere else you want to hearit in your home. The sleekest versions may cost up to $400, but their versatility and low profile make them a worthwhile splurge.
• A Le Creuset French Oven ” A classic among devoted cooks, these porcelain-coated Dutch ovens have incredible heat retention and hold up against acids and stains as you turn out delectable stews, soups and more. They can cost up to $350, but you may be able to reduce your splurge if you prowl a few good discount home goods stores.
• A Teak Cutting Board ” If you love to cook, you should have had one years ago. At about $88, a good teak board is easier on knives, beautiful to look at and will last longer than any plastic cutting board.

Published with permission from RISMedia.

If you have a small bathroom and/or a large family, storage space is at a premium. Without a solid organizational system, a bathroom can quickly become cluttered. Items that belong in the bathroom may get shoved into other closets, which can make finding things a hassle. Here are some tips to help you make the most of the available space in your bathroom and find more room for storage:

Keep Toilet Paper and Towels Within Reach
A wheeled cart can provide much-needed storage space, especially if it has two or three shelves. Use one or two to keep toilet paper and towels close by, and store some frequently used toiletries on top.

Another option is to find an attractive basket that will fit on top of the toilet and fill it with extra rolls of toilet paper. You can also roll up or fold towels and place them in baskets under the sink if you dont have a vanity.

Take Advantage of Empty Wall Space
If you have some unoccupied space on a wall, make the most of it by hanging shelves. Stack a few shelves, and keep items you frequently use easily accessible and things you use less often higher but still within reach. You can also mount decorative baskets on the walls to store extra toiletries.

Utilize Available Space Under the Sink
If your bathroom has a vanity under the sink, you can place storage caddies there to keep things organized in an awkwardly shaped space. If your sink doesnt have a vanity, the area under the sink can be an ideal spot to place a stack of drawers. They can be used for towels, toiletries and hair-styling tools to keep everything within easy reach but out of the way.

Organize Makeup So Items Are Easy to Find
If you own a large assortment of makeup and have trouble finding the eyeliner or lipstick you want, organize everything on a Lazy Susan. That will make it simple to find what you need on a busy morning and keep your makeup from cluttering drawers.

Create More Storage Space in the Shower
If you dont have enough room for shampoo, conditioner and body wash in the shower, you can make more storage space by mounting a rod next to a wall in the shower. Hang one or more storage caddies to keep things organized and easily accessible.

Hide Items From View
If your bathroom has a medicine cabinet or full-length mirror with a door that opens outward, use the area behind it to your advantage. Install some shelves to create hidden storage space.

Explore New Ways to Use Limited Space
A cluttered and disorganized bathroom can make hectic mornings even more stressful and lead to conflicts between family members. If youre struggling to keep your bathroom organized, try some of these simple, inexpensive and effective strategies to create more storage space.

Published with permission from RISMedia.

In the wake of Hurricanes Harvey and Irma, the latest storms to devastate thousands of American homes, homeowners may find themselves wondering whether to consider flood insurance.

For those in areas perceived as vulnerable, it’s no decision since its required as a condition of their home loan. For others, it raises the same questions as other types of insurance; namely, when does the premium outweigh the actual risk? A $650 annual premium, the amount the National Flood Insurance Program (NFIP) cites as average, seems like a lot to pay if you never use the coverage.

Since flood damage is not covered under the average homeowner policy, Nerdwallet, a consumer advisor website, tells USA Today what factors to consider in deciding whether to purchase flood insurance:

Even a minimum amount of flooding can have disastrous financial results. According to the NFIP, one foot of water could cause $27,150 of damage to a 1,000-square-foot home. That said, if you live in a low-risk zone that has never sustained serious flood damage, weigh the coverage cost against the likelihood of filing a claim. A reasonable option might be to set aside money in a repair fund”a good idea for homeowners in any case.

Consider having the amount you’d pay in premiums automatically deposited each month into a high-yield checking or money market account, which nets better returns than simply saving cash. And check with a financial advisor because some states allow customers to place emergency funds in Catastrophe Savings Accounts exempt from state income tax. (Federal taxes still apply, and disbursements are taxed as normal if withdrawn for purposes other than flood repairs.)

Where to Buy, How to Save

Available national (NFIP) or state programs may be best, but some private insurers offer flood insurance with lower premiums, so get quotes. You can save a little by choosing a higher deductible or less coverage. Just be sure you can come through with any needed cash.

The Bottom Line

If you live in a moderate to low-risk area, check with your financial advisor or real estate agent. A flood policy in such an area could cost less than your monthly cell phone bill, and could save you money if your home sustains flood damage.

Published with permission from RISMedia.

Paying less than 20 percent on a down payment on a house will likely require buying private mortgage insurance by the lender.

The insurance, called PMI for short, is used to reimburse the bank if you default on the loan.

It isnt too expensive”usually between 0.5 and 1 percent of the entire loan amount paid annually. On a $100,000 loan, a 1 percent PMI fee equals $1,000 a year, or $83.33 per month. That may not be enough money to make or break a home purchase, but its money that homeowners would rather be saving or spending elsewhere.

There are a few ways to avoid PMI, with the simplest being to have a down payment of 20 percent or more. You can put off buying a home until you can come up with that much money, though thats probably not the answer youre looking for.

Another solution is once youve bought a house, you can cancel PMI once the loans principal balance drops to 80 percent of the homes original appraised value or its current market value. By paying more of the principal each month, for example, you can have 20 percent equity in the home quicker and then cancel PMI.

Your lender may automatically cancel PMI when your mortgage balance is 80 percent. By law it must tell you at closing how long it will take with your monthly mortgage payments to cancel PMI.

You may be able to reach that 80 percent threshold by having your home reappraised if you think it has gone up in value from the original sales price or appraised value.

Another option is a piggyback mortgage. This is a second mortgage or home equity loan that is taken out with a first mortgage. For example, an 80-10-10 piggyback mortgage covers the purchase price with 80 percent from the first mortgage, 10 percent from your down payment, and 10 percent from the second loan, also called a piggyback loan.

This allows you to have a low down payment of 10 percent, but not have a loan-to-value balance of 90 percent that would require PMI. Instead, the two loans lower the LTV and dont require PMI.

Finally, theres the option of lender-paid mortgage insurance, or LMPI. It includes the cost of PMI in a higher mortgage interest rate, meaning youd pay more in interest over the life of the loan.

Published with permission from RISMedia.