Summer comes to a close, time to consider a new furnace
August 31, 2009
The end of summer will mark the end of air conditioning season and motivate home owners to start planning for the colder months that are ahead. Many homeowners will turn their attention to winterizing their home and may consider a new furnace to help reduce their energy costs and provide a better source of heating their property. With numerous government tax credits available to homeowners to take advantage of this year, there may never be a better time to consider replacing your furnace. If you have an older model furnace that is well maintained and working fine, it never hurts to do a little research now to be ready in the event your furnace quits on a cold night and you are forced to try an buy a new furnace.
Some key points to establish prior to starting a search for a new furnace:
• Financial budget
• How long you plan to be in the home
• Do you want to add central air conditioning
• Tax implications of energy efficient brands
• Financing options
• List of recommended service providers from friends/family or reputable websites
Furnaces today are manufactured significantly smaller than models as recently as ten years old. The key standard in judging the efficiency of a furnace is the AFUE rating. The AFUE number tells you how efficiently a furnace converts fuel to energy. The higher the AFUE percentage, the more energy-efficient or fuel-efficient the furnace is. The minimum rating for a furnace today is 78. The efficiency number helps to better explain how much hot air a furnace produces and how much is lost in the process. For example a 90-percent efficiency furnace is putting out 90,000 BTUs out of a possible 100,000 BTU’s, meaning the furnace is running at 90% efficiency. 90 percent BTU efficient furnace will help save you money with your energy costs, but will also cost more, so this will be a key calculation in how long you plan to stay in the home to better understand the investment return of a higher energy model. The pricing difference between an 80 and 90 BTU furnace generally runs about six hundred dollars. You need to project your energy savings over the life of the furnace, (twenty years) versus the additional upfront expenses
As a starting point for your budget, you should expect to spend on the low end $ 1600 for a new furnace. Installing your furnace property is a key element to maximizing the energy efficiency, so be certain to verify your contractor’s credentials and licensing. Interviewing multiple furnace contractors will also help you identify which contractors may attempt to cut corners on their workmanship, a move that could end up costing you money in the long term. Expect the cost of your installation to increase if you require new ductwork or custom installation. This is a great time to consider adding an air condition unit to your home if you don’t already have one. Choosing a new furnace is a bit more complex than simply deciding on an eight versus ninety efficiency unit. One of the options with new furnaces is called a two stage furnace. Simply put, a two stage furnace runs the fan at low speed most of the time, which minimizes the up-and-down temperature changes associated with standard furnaces. This low-speed fan provides a more consistent, continuous flow of warm air than a singlestage unit, helping to keep the energy costs lower.
Fences add curb appeal and value to your home
August 24, 2009
There are a ton of options available if you are a homeowner considering adding a new fence to your property or replacing your existing fence. Today, there are options that fit almost every budget, and can offer aesthetic appeal, durability, security and peace of mind. If you are thinking of replacing an existing fence, you should feel confident that you can find the right fence for your budget.
The most economic fence is a chain link fence. Chain link fences come in a variety of styles and materials, including wood, vinyl, aluminum and even composite. For many people, chain-link fencing is still the most popular option because of the cost. Chain link fences are durable, and great for families with pets or small children. Most chain link fences feature a longer life span than fences of the past as they may feature vinyl coating, that increase the durability and add to the appearance.
Cedar fences are very appealing, as they can offer a variety of color shades and designs. The only downside with a cedar fence is the cost and maintenance. A cedar fence is just like a cedar deck, so you will need to plan on regular upkeep that includes cleaning, stripping and staining just as you would for a deck.
A new option that is becoming a popular alternative to wood fencing is a composite fence made from the same materials that composite decks are made. Composite fencing offers similar looks to a cedar fence, but with greatly reduced maintenance requirements. The most expensive fencing, other than brick, is vinyl fencing. Vinyl fencing is the most the most durable and requires the lowest maintenance.
Before you even think about the type of fence you want, you should first check with your city or township to find out what ordinances the municipality has regarding fences. f you plan to put up a fence yourself, you better make sure you know what your municipality allows before you spend the money to buy the materials. For example, many cities require you to get written consent of an adjoining property owner when you erect a privacy fence, and most cities have requirements regarding the height or style of a fence. You should also check with your neighborhood association to make sure there aren’t any rules prohibiting you from having a fence. Home remodeling projects such as putting in a new fence, can add value to your home and require minimal skill to add great curb appeal to your home. As with all home remodeling projects, consider working with a local contractor and review multiple estimates if you plan to outsource the project to ensure you are receiving work from a licensed, professional.
The housing markets triple play
August 11, 2009
The real estate industry went three for three in the month of July, showing strong signs that the worst of the housing market collapse may be starting to end. The housing market has been devastated in the last two years, as home foreclosures and the global recession have combined to drive down home values in excess of twenty percent across the country. The collapse in the housing market is one of the strongest contributing factors to the current economic recession, and has been one of the largest elements to the erosion of wealth.
The housing market has been a key focus of the government this year as they have worked to try to slow down home foreclosures and incentivize home buyers to return to the market. The early results favor the governments approach to bringing home buyers back into the market, versus their results with home loan modifications and government refinance loans programs. The government rolled out a tax credit of $8,000 for first time home buyers, improving on the home buying tax credit that was offered in 2007, as this year the credit does not need to be paid back. The tax credit, combined with great rates for fixed rate home loans and abundant housing surplus finally has brought home buyers back into the marketplace. The National Association of Realtors reported that existing home sales for the month of June edged up a surprising three percent for the month. This was the largest reported increase in the last year. This report is a clear indication that home buyers are beginning to return to the market.
The existing home sales report was the first sign that the real estate market may be improving. The good news is that in the same month, the new home sales report also indicated improved figures in the sale of new homes. These two reports helped to lift up the stock market and are a great boost to consumer confidence. The market received another key report from CaseSchiller last month, indicating that home values in the nation’s largest twenty metro areas have increased for the first time in the last 18 months. The deterioration of home values has been one of the largest driving factors with the increase in home foreclosures. In many markets, where home values have collapsed in excess of fifty percent, home buyers have simply made the decision to walk away from their homes, rather than have the financial burden of a mortgage that is hundreds of thousands of dollars higher than their current homes values. Stabilizing home prices will be a critical step towards fixing the national economy. The great news that these three reports have highlighted is that the worst of the housing market collapse may finally be over. The market could continue to show improvement as home inventories continue to move lower and more potential buyers return to the market with the confidence that they are at the bottom and still have the benefit of great mortgage rates and affordable housing stock.
