Financing Options For Your Next Project

Whether you have decided on working with one of the Big Box Retail giants, like Lowes or Home Depot, a local contractor, a close friend who is a jack of all trades or a construction company on your future home renovation project, the undertaking of the decision to move forward with a home renovation may be one half of the battle, but paying for it is another. Regardless of what the condition is of your current project, and the pictures of what it could be, the final cost will sway you into 2 categories of “need vs. want”. For the sake of keeping this post simple, you have chosen to move forward regardless. With that said, you have options when it comes to getting what you want, even if it is your dream kitchen, your fantasy master bathroom, etc.

Do not immediately get discourage or concerned about wanting a home renovation that you feel is over your budget because of the dollar amount on contract. Yes, cash is King, but financing your home improvement project is Queen. A homeowner has options, and all those options should be considered. If you have the luxury of paying for a home renovation out of pocket, that is fantastic. Using your last cent in savings or a good chunk of it may not be. Before you pull that trigger, please consult with your financial advisor on the ramifications. In the meantime let us take a glance at 4 ways to finance your home improvement project. These 4 ways should help you in determining your purchasing power, and you can do this on your own without any assistance. Be your own financial advisor, and uncover the facts that best suits you in whichever direction you deem comfortable.

1.       Title 1 Home Improvement Loans: U.S. Department of Housing and Urban Development, aka HUD provides private lenders with insurance to extend financing for up to $25,000.00 for home improvement for a term of 20 years. There are restrictions to what would be okay to finance, luxury items like a swimming pool or hot tub do not qualify. These loans are not equity driven, but they are credit, and a homeowner must show their ability to pay. Loans on single family homes may be used for alterations, repairs and for site improvements. Loans on multifamily structures may be used only for building alteration and repairs. A homeowner can inquire on their own with any bank, mortgage company, savings and loan association, and credit union, that is approved as a Title 1 Lender. Just walk into your bank as an example, and ask them if they are approved to issue Title 1 Loans.

2.       Contractor Loans: Some construction companies do offer financing options, they are state, and county specific with their own restrictions. The financing partners are lenders, and not the contractor’s own funds. There are several programs available, like a no interest loan for a fixed period or a very low rate for a promotional period, the terms vary, as do the rates. Whether a no interest loan or a competitive promotion term, get the facts on what the rate will be at expiration. Perhaps you are planning on selling the property, and need to lowest payment or no payment while you get your home ready. Regardless of what your plan is be informed, and do not sign anything that is not in fine print.

3.       Personal Loans: A better alternative to using your credit card. The rate will be a lot more competitive than what the credit card issuers will offer you, and they are fixed (not variable). The only drawback is finding an institution that still offers these unsecured loans. They are not equity driven, and the lenders that offer them have a higher standard in credit qualifying in-lieu of the risks. Again, be informed and read the fine print. Take into account the monthly payment, and all your other expenses.

4.       Home Equity Line of Credit: Considered the best option in financing due to the lowest rate available. These loans are offered by most lenders, they are variable and equity driven. In taking out a HELOC you are borrowing against the equity of your home. Most lenders who offer these loans have reduced their Loan to Value limits, so qualifying can be a challenge when it comes to market conditions in your community. These loans are considered the best alternative in comparison to most financing options. When inquiring about these loans, a licensed loan officer at a local branch will be able to tell you if you qualify. Most lenders have automated access to valuation of properties, so even if you are not sure about the value in your area, the lender may have the tools to assist you.

Luxury at Home

lux·u·ry  

/ˈləkSH(ə)rē

n. pl. lux·u·ries

1. Something inessential but conducive to pleasure and comfort.

2. Something expensive or hard to obtain.

3. Sumptuous living or surroundings: lives in luxury.

Synonyms: luxury, extravagance, frill

[Middle English luxurie, lust, from Old French, from Latin luxuria, excess, luxury, from luxus.]

{Simple Luxury: House Beautiful}

Luxury is a word that seems to get thrown around a lot. It seems someone's always asking, "What is luxury?" or telling us what's luxurious.  I think luxury has become something other than what it was once thought of...  It used to be more associated with money and expense rather than simplicity and comfort.  In the above definition, you can see its different meanings.  The first definition is the closest meaning to how I view it now, but reading further down the list, the definition goes back to money and "extravagance" and excess, all of which are typically viewed fairly negatively in our culture, even if it's what people really want.  (Meaning, if you're a billionaire and you don't spend a lot of money and live modestly, people commend you....   if you "waste" it and are a drunken sailor about it, or surround yourself with extravagance and "excess," it's not very respected.) These days, luxury seems to be more about small details and comfort and quality and time.  The phrase "the luxury of time" has been around a while so we have always put value on that but I think the idea that "luxury" can be simple and meaningful has really taken a hold of our society.  Also, I've noticed that when people are asked what "luxury" is to them, "luxury" seems to become more about what it is they want most...  the best part of their lives: the unexpected details and wonderful things that pop up & happen.  In an Australian Vogue article I was reading recently, one person interviewed said the best luxury was when a friend picked her up from the airport with a bouquet of fresh picked flowers.  It was an unexpected surprise, but really just one of life's simple pleasures that made her feel pampered and special.  

When asked what my "greatest luxury" is, my first answer is automatically "time with my family."  To me, it's something that I don't get enough of and it makes me happier than anything else.  

{Me with Justin, photo by Vy Koenig}Along with having the time, part of what helps me enjoy being with my family is simple, good living.  An ease to daily life.  Not being surrounded by "stuff" and things that take my attention away from life and enjoy being with my family at home. A comfortable house.  Good simple food.  (Does Whole Foods count as a luxury??)   Just simply enjoying life with the people I love...  

See how "luxury" seems to become what it is a person wants most?  I'm not sure the definition of luxury includes "little things that make life feel special" but it really does seem like that's what it's becoming, or at least how I've started to view it: Clean Sheets on a newly made bed, open windows, fresh flowers on the nightstand, time with the people you love, an unexpected note on nice paper, space, al fresco dining, a place for everything, reading leisurely, an exceptionally comfortable sofa, a mudroom, a fire in the fireplace, a simple yet beautiful meal, candlelight, an organized closet, time, time & more time.

{Linens drying on a clothesline...  image via pinterest}To me, a life with "luxury" would be a life where things are uncomplicated and simple yet exciting.  Special little somethings come into it and there's really just a general ease of life.  Waking up and feeling free and ready to go.  Rested.  Having the time to hang with the ones you love before the craziness of the day begins. Going into your closet and seeing everything at a glance and easily pulling together something that's already pressed and ready to go and looks perfect.  (Doesn't happen for me!! ;)  Leaving a clean house and getting into a clean car.  (My ride of choice these days is either a milk-encrusted minivan or a pick-up truck with over 300,000 miles on it and no AC!! That's luxury baby!!  ;) ;)  It really is the little things though.  Things that make you feel more comfortable, both physically & emotionally.  Since my work is about home, I find myself thinking about how "home" can be luxurious, in the simple, comfortable context.  Redoing my home from the ground up has been eye opening.  I wouldn't have done what I did without having lived in my previous homes & having observed so much while we were there about how we lived.  A lot of what I do is "decorating" but in the past year or so, we've started taking on more & more projects that involve new homes, renovations and space planning.  When you get to really think through what's going to be where, you can plan a home so that it is exactly the way the people who live there need it to be for the easiest living, the most simple (or most "luxurious") living.  Things can be where they need to be and special little details can be incorporated that don't cost much but that make the home feel luxurious to the people who live there.  In our home, we enclosed a small, unloved rocky area just outside of our master bedroom and created a private special little garden patio with an outdoor shower.  We shower outside every day and to me, it's one of those "luxuries" that isn't about money or frills, but just about enjoying something small but incredibly good.  I get to look up at the sky and just think while I'm showering in the morning.  In the evenings, I can rinse off before bed and really appreciate being outside in the night when it's quiet.  Outdoor towel hooks are just where we need them to be.  There's a pair of chairs out there where Dave & I can sit and talk.  The boys love showering out there too- even the baby.  It wasn't hard to do, but creating this little secret garden in our bedroom has made such a difference in our life.   

{Not our outdoor shower.. image via pinterest}As I plan our home (and the homes of clients) I try to think about how to design & decorate a home so that it works for us...  So that things are where they need to be and there's just enough space to do what needs to be done... and I try to think about where unexpected little things or luxuries that can be added to make the house special: shelves for books, a window seat, a place to display collected treasures, a massive sofa outside...  For some people, it's an extra sink in the kitchen for washing garden vegetables, french doors that open to the outside in every room, curtains blowing in the breeze, a bathroom where everyone has enough room, a meaningful photograph displayed prominently, a large nightstand in the bedroom for storage, a porch swing, a place to hide the mess, a sentimental painting, a perfectly worn farmhouse table in the kitchen that doesn't need to be worried about, a soaking tub in their bathroom, a fabric that brings on the memories, an herb garden in the kitchen, the perfect reading chair, or a guest room large enough to fit a slew of grand kids.  It's different for everyone.  

{Bunk room via pinterest}

There are so many simple opportunities for us to inject a little luxury into our homes, even after they've already been built.  I'm finding that it's becoming one of my favorite aspects of my job: Figuring out what that little something in a home or room that makes the people who live there and visit there feel special & comfortable...   A little bit of luxury.  The simple kind.How can you add a little in your home?

If you'd like help creating a home you absolutely love, contact me about our design services.*Definition of luxury from dictionary.com

10 Things to Consider when adding a Housing Extension

For many it’s the defining moment of owning a house - deciding to extend a property can bring new life into a home, prevent the need to move for extra space and add value...it can also be a great project to put your time into and allows creativity and inventiveness in abundance!

There are however obvious things that need to be considered when developing your property - and while some come to mind immediately, there are many that you may miss and that need to be thought about in a little more depth. Here’s a list of 10 things you may need to consider...

Planning Permission

Following on from this earlier article on conservatory planning permission, it leads me to the first point that needs to be considered - does your extension need planning permission or can it be integrated within existing permitted development rights? There are a number of stipulations, however it’s important to realise the limitations early on in the plan. More info about permitted development rights can be found here

Building Regs

Building Regulation approval is different from planning permission - and it’s an important distinction that must be realised early on in the extension process. You will need approval for a number of common household extensions, including bathroom facilities, loft conversions and the installation of new heating systems.

Minimum Room Size

Thinking of accommodating an entire student property into one extension off the back of your garage? Think again, according to latest planning and permitted development laws. Each type of room needs to be a minimum size to be considered habitable for an extension - for example a double room needs to be 10.2 sq. feet.

Part of the Home?

When you’re planning a development and extension to your property, you’ll obviously want to make sure that it feels integrated and attached to your existing spaces. Think about what you will be using the space for - and ensure that you maximise light and access - consider fitting double doors, for instance.

Use Light to Your Advantage

Adding an extension is a great way of changing the look and feel of your home, but it’s even better if you can add extra light to a space. It’ll make it feel bigger, open it out and change the atmosphere of your entire living area. Light is your friend when you are making changes to your property.

How much will it be used?

Obviously there’s no point spending thousands on an extension if it’s not done with the primary reason of living in it. You’ll want the opportunity to make the space your own - so it’s wise to spend some time finding out and discussing exactly what you need more of in your property and how you can best use the existing space before turning your attentions to filling the new one.

Two Storeys?

There can be a lot of advantages in investing the time and money in building something which has or at least can accommodate two stories. It’ll add value, and a large amount of new possibilities when it comes to bathrooms and bedrooms.

Hire the Right Builders

There are so many people thinking about extensions these days - the amount of builders who have jumped on the bandwagon and claim they can fulfil all your expectations is alarming. Make sure you get recommendations and most importantly hire people you trust and enjoy spending time with - after all, you will be letting them into your home every day for a fair amount of time.

Garden Space

Housing extension need not just be about adding large scale buildings to your property. The importance of great outdoor space isn’t to be underestimated, and can improve the look and feel of your home dramatically. Having a garden is also a great way to add value. A bit of landscaping and extending of your garden can go a long way....

Break Down Barriers...

Removing walls and creating an open living space is a great way to absorb your extension into your existing property. It’s easy to define rooms or living spaces by using furniture to divide areas. This practise is becoming increasingly popular and can improve resale value further down the line, too.

There are of course a number of things to consider when opting to extend your property that aren’t covered by the types of things mentioned here. It’s wise to get experts and professionals on board as often and as early in the process as possible...developers, designers, architects and solicitors can all advise on the best course of action. It should however be an enjoyable process, and one that will increase value and provide happiness and comfort for your family.

This blog post was provided by Kent-based planning lawyers, Kingsley Smith Solicitors - offering a wide range of planning and development advice.

Pretty Little Friday

One of my favorite simple pleasures is picking flowers & putting them around the house.  I snipped the last standing blooming delphinium from my garden this morning for our foyer and they make me so happy.  Hope you get some time this weekend to enjoy your own simple pleasure!!  

ps- go Duuuuuuuukes! (the colors were too perfect not to mention my JMU roots ;) ;)
If you'd like help creating a home you absolutely love, contact me about our design services.

Loft Progress

We're knee-deep in construction again over here but we're almost there!!!  The guys from CarrMichael Construction have been moving quickly and I'm so excited about the progress they've made this week!!  Our  big final project is the loft, which is basically our family room.  Here's what it looked like before we moved in:

Before we moved in, we added wall-to-wall seagrass to the entire upstairs so we had to take down the existing built-ins and have been living with it completely torn up (see pic below) since September.  In the pic below, you can also see how pink the "beige" was compared to our ivory/cream on the right.  The entire house was freshly painted that color when we bought it.

You might remember me telling you this, but we actually lived in our upstairs for a few months.  In the pic above, you can see our "kitchen" (ie microwave on a dresser = true luxury!!! ;) ;) ... But living up there was a actually a really good opportunity for me to get to know the space.  I'd spend every morning feeding the baby in the chair (a super comfy rocker/ glider by Lee) and looking out the window:

But we could only really see out the windows when we were in the rocker or standing up actually looking out the windows.  It made me realize that I wanted that entire wall OUT so that it would feel like you were almost outside from every part of the room. (including the sofa where we watch movies from and might possibly spend waaay too much time on!!)

Searching for the right window took months, honestly.  (Which is the main reason it's taken so long to get to this part of our project.) I wanted steel but we looked into more affordable aluminum look-alikes.  We finally found what we were looking for at the Window Man where we settled on an aluminum window by Universal Window.  Getting drawings and a quote took a long time as the team from the Window Man had to persuade Universal to sell just 1 window.  But we finally got it!!  It went in Monday:

{eeeeeeek!!}

And it's completely transformed the loft!!!  It feels like you're outside up there!!

The guys are now working on creating the drywall framework for our bookshelves and window seat.  Electrical is going in today.  Here's a quick sketch of how the shelves and window seat will look:

We've modified some of the dimensions a bit to meet code (gotta love it ;) and I've sacrificed a couple inches of window seat space to make the entire thing feel a bit more seamless.

Here's a sketch I did of the back wall, where our sofa will go:

I internally debated for a while on whether I wanted a larger center set of shelves or if we should go equidistant and I finally settled in equidistant, which is different from the sketch above:

I decided to go equidistant because I felt that there was so much variation from the rest of the room with the window seat, that I wanted the rest of the walls to sort of fall in line and be consistent.

Here's the left wall, which is being worked on today:

The built-ins will actually be made out of drywall, similar to the shelves in this pic...

...except the shelves themselves will be made from reclaimed wood planks.

The window seat cushion will also sit right on a drywall ledge, similar to the one in the photo below.  When you lift up the cushions, there will be hidden storage beneath.

I'll keep you posted as more things happen.  Also, we are having our house photographed during the first week of August so it's pretty much just design mayhem in my head right now.  All of those decisions I felt like I had so much time to make are pretty much overdue. :/

And finally, my friend Jill Sorenson of Live Like You is moving and she is having a moving sale on her blog and there are some amazing deals!!!  To check out the things for sale click here.  I'll miss being near Jill but am really happy for her & her son.  She's a truly special person and has a beautiful bold sense of style:

I'm off for the day into the rain but hope you enjoyed peeking into our trashed in-progess place today!!

 
ps- For anyone worried, just wanted to let you know that we did use tempered glass and the windows do open well above where the kids can reach.  
Also, I think I got an upset comment about saying this last time (and I hope that you know me well enough to know by now to know when I'm joking BUT) it's not a very far fall if they do make it out the window because although it's an upstairs loft, the ground below the window has been raised for a large garden bed.  I'll be putting in the fluffiest of bushes ;) ;)  (joke.)

have a good one!!
If you'd like help creating a home you absolutely love, contact me about our design services.

Granite Countertop Alternatives

Granite countertops are a class on its own. Whether you have decided to go with granite in your kitchen or bathroom, there are other alternatives to consider as well. We tend to follow trends, because that is what we hear, and see. Granite has always been very popular, but others may surprise you with a different look, and feel.

Glass Tile: Aside from the obvious appearance, and how this material pairs with natural light, this choice will get you a scratch and fade free surface. Its finish is mildew and mold free, and the colors are endless giving you many options in style, design, and overall look.

Richlite: This 100% eco-friendly paper composite is made of recycled material that is non-toxic. It is heat, stain, and scratch resistance. Richlite also comes in many colors, and the color is throughout. Due to the make of the material, its temperature is warm in-comparison to marble or granite. Richlite is fabricated on the spot, and is very durable.

Quartz: Very durable, man-made, stain, and crack resistance. Quartz comes in a wide range of colors, though expensive, and not heat tolerant.

Soapstone: A natural stone that has quite a bit of quartz in it. Very durable with a smooth matte finish. Requires some maintenance (oiling and buffing), color darkens with age.   

Concrete: Heat resistant, and if properly sealed; very durable. This look is not for everyone. It gives off an industrial appearance, and can be very expensive with person customization.

Lava Stone: A new, but very expensive volcanic stone material. This product is heat resistant, scratch, and stain free. It is extremely durable, and is available in a wide range of colors.

Stainless Steel: This is 100% recyclable, and very durable, impervious to any stains and heat, can be cut to size. Unfortunately, this material is prone to dents and scratches.

How to Measure and Fit Blinds in Your Home

Infographic created by Made to Measure Blinds UK