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Eco-friendly features are all the rage today as homeowners commit to living greener lives. But for those looking to reduce their carbon footprint, where do you begin?

For many, the answer is the kitchen. The central hub of the home, the kitchen offers a perfect foundation for incorporating green features and appliances.

Getting started, you may want to consider adding an induction stove, a stove that utilizes magnetic energy to induce a current that heats the food. Not only do pans heat up quickly on this type of stove, but the amount of time needed to cook meals is greatly reduced. In addition to the energy savings and coolness factor, induction stoves tend to be much safer than traditional stoves since theres no open flame or hot electric element involved.

Its also important to add energy-efficient appliances. If youre trying to sell your home and an old dishwasher and refrigerator unit serve as the focal point of the room, it could be a major deterrent to a sale.

Changing up the lighting is another easy way to up the eco-friendly factor and make the kitchen appear fresh and new. Installing ceiling fans is another simple, inexpensive way toward making the space more eco-friendly. Ceiling fans will circulate warm air in the winter and will help keep the kitchen cool in the summer, keeping heating and cooling costs lower throughout the year.

When it comes to greening your home, remember that you dont need to drain your bank account to find success. For example, adding a water filter to your sink (and saying goodbye to bottled water) is an inexpensive way to promote green living. Take this one step further by highlighting the fact that the water filter removes harmful contaminants, providing a fresh drink that can easily be enjoyed when relaxing at home or while out and about.

While not every change will yield a payoff, data shows that kitchen improvements will reap the highest rewards in home value, offering the fastest way to get someone interested in buying your home.

Published with permission from RISMedia.

Here are four things to keep in mind when looking at waterfront property.

Do Your Research

Elevation is important to take into account to ensure the house isnt prone to flooding. Property lines can also be an issue, as some shorelines are considered public land.

Consider How Youll Use It

Waterfront property can vary dramatically and so too can the lifestyle that it delivers.

Extra Costs

Living on the water is expensive. From flood insurance to pricey hurricane-proof windows, there are plenty of extra costs that come with the territory.

Work With a Waterfront Specialist

The best resource you can have is a real estate agent who specializes in local waterfront property.

Published with permission from RISMedia.

If you’re between jobs or retired”or not working and considering retirement”you can still buy a home and get a mortgage that will require you to make monthly payments.

While you don’t need a job to get a mortgage, what you do need is income. And there are many types of income that lenders will accept for a mortgage loan. You’ll likely need to have a few of them to qualify, and you’ll need to document them. Here are some sources of income beyond having a job:

Social Security
Retirees aren’t the only people receiving Supplemental Security Income (SSI), which is a form of income. You may be on permanent disability or dependent on someone and receive SSI income.

Pension
If a former employer is sending you a regular check each month, it should be easy to document this income with bank statements or an award letter.

Retirement Fund Withdrawals
IRA withdrawals are required at a certain age. At age 59 1/2, you can withdraw any amount from your IRA without having to pay the 10 percent penalty; however, your regular income tax will be due on each withdrawal. Traditional IRA distributions aren’t required until after age 70 1/2. Most mortgage lenders will require having enough money in your retirement accounts to support withdrawals for at least five years.

Spousal or Child Support
You aren’t required by law to reveal income from spousal or child support, but you can if you want to, especially if it’s needed to qualify for a mortgage. The income should continue for at least three years, which should be stated in a divorce decree or child support agreement.

Dividend and Interest Income
If your investments are earning you money, that income can help you qualify for a mortgage. Most lenders will average the last two years of income as reported to the IRS, so lenders will need tax returns to use this income.

Asset-Based Income
Aside from any restricted retirement accounts, investments and savings that don’t have dividend or interest income can be used as income to qualify for a mortgage. These funds should be substantial, since Fannie Mae and Freddie Mac rules divide those assets by the number of months in which the loan will be repaid.

Private Loans
If you’ve loaned someone money and they’re paying you back, or you sold a house or business and are carrying a loan note that’s being repaid to you, these can qualify as income. Payments must last for at least three years to qualify as income toward a mortgage. A copy of the note and bank statements showing payments received will be required.

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

Published with permission from RISMedia.

Published with permission from RISMedia.

If you’re overwhelmed by the cost of your mortgage or the amount of time you spend cleaning and maintaining your home, or if your kids have moved out and you have more space than you need, you may be thinking about downsizing. While there are many advantages associated with moving to a smaller house, there are some potential disadvantages you need to be aware of before making a final decision.

Reasons to Downsize
Most people who downsize do so to save money. There is no reason to make high monthly mortgage payments for a house with rooms that sit empty. Moving to a smaller home can help you dramatically lower your mortgage payments and save money each month. A smaller house will also likely have much lower utility bills. The money you save can be used to invest for retirement, take vacations, pursue a hobby or help others in need.

Downsizing can save you time. Fewer rooms means less cleaning. If you move to an apartment or condo, your landlord or management company will likely handle maintenance, landscaping and repairs, which can save you even more time.

If your current home is cluttered with possessions you have accumulated over the years, downsizing will force you to get rid of things you no longer need and to become better organized. If you often spend too much money on new clothing and household items, you’ll be less likely to do that if you move to a smaller home because you simply won’t have enough space to store them.

Downsides to Consider
If you enjoy hosting parties or large holiday gatherings, you won’t be able to do that as comfortably in a smaller house. Think about whether that is a change you and your family would feel comfortable making.

Some people find a smaller home cozy, but others feel cramped. Downsizing generally means having significantly less storage space. That means you’ll need to eliminate unneeded possessions and buy less when you go shopping. You can save space by using furniture with built-in storage and digitizing important documents, photos and even your music collection. Even if you prefer the greater simplicity and organization of a smaller space, it will still take time to get used to the change.

Many people take pride in having a large and impressive home. If that’s important to you, you may feel a loss of prestige if you downsize. Even if your family and friends love your new house, you may be tempted to compare your home to theirs and experience negative feelings.

Is Downsizing Right for You?
Moving to a smaller home is an excellent way to save money and to simplify and organize your life. Downsizing is also a major adjustment. Before you make the decision to find a smaller home, think about the many ways in which your life would change”and consider how you and other members of your family would feel about your new lifestyle. If you decide that downsizing is right for you, it can be the beginning of a rewarding new life.

Published with permission from RISMedia.