Last updated 22 hours ago
May 02, 2012
According to a new study conducted by AAA, the average U.S. car owner now pays $8,946 a year on gas, tires, maintenance, registration fees, financing and other expenses. These figures were based on a midsized sedan that traveled an average of 15,000 miles per year, equating to 59.9 cents per mile – up 1.9 percent from 2011, reports USA Today.
"We knew the gas prices had increased from the prior year's study," Michael Calkins, AAA’s manager of approved auto repair, told the news source. "What we didn't see coming was that used cars would retain so much of their value. What a lot of people don't think about is that depreciation is the biggest single cost of owning a vehicle."
If you’re in the market for a used car, consider finding ways to reduce annual ownership costs. While the biggest reason for the price increase in 2012 was high gasoline prices (which added 14.8 percent to the average cost of ownership), there are ways to reduce auto financing costs to balance the books.
Home Loan Investment Bank, FSB is a full-service financial institution offering residential and commercial lending, personal and business banking, and mortgage services. Home Loan Investment Bank News is published on the company website to keep readers up-to-date with the latest residential, home improvement, and automotive financing news and events. Read more of the latest news here.
Last updated 1 day 22 hours ago
May 03, 2012
Sometimes a home can feel a bit cramped. Consider increasing the usable space of your house without the expense of an expansion. With the proper design, you can add the rooms you’ve always wanted.
"Finishing a basement is one of the best ways to add livable square footage to a home, while substantially increasing its value," Vincent Carneglia, owner of VCG Construction, told Modern Home Guide.
Here are three reasons to use home improvement financing to finish your basement:
1. Value. A properly remodeled basement can entice potential homebuyers down the road through additional usable space. If the living room upstairs is a bit small or there is a lack of a guest bedroom, implementing those features downstairs can make up for a lack of space.
2. Income. According to UpscaleDownstairs.com, basement apartments are a great way to gain extra income. Many basements rent at 75 percent of the cost of a homeowner’s monthly mortgage.
3. Entertainment. Do you love to play pool? Or, do you enjoy hanging out with the guys, watching movies on the big screen or serving up a sweet cocktail? Having an entertainment area in the basement removes the noise and mess of parties from the rest of the house.
Home Loan Investment Bank, FSB is a full-service financial institution offering residential and commercial lending, personal and business banking, and mortgage services. Home Loan Investment Bank News is published on the company website to keep readers up-to-date with the latest residential, home improvement, and automotive financing news and events. Read more of the latest news here.
Last updated 2 days 22 hours ago
May 03, 2012
At estimated 51.4 million people lived in multi-generational homes in 2009, almost 16.7 percent of the U.S. population. This jump was a significant increase from 2007, according to Forbes. Generation Y was hit hard by the recession and forced to live at home with mom and dad and find work with underpaying positions or unpaid internships.
"One reason young adults who are living with their parents may be relatively upbeat about their situation is that this has become such a widespread phenomenon. Among adults ages 25 to 34, 61 percent say they have friends or family members who have moved back in with their parents over the past few years because of economic conditions," The Pew Report states, according to Forbes.
With so many Americans in their 20s and 30s living at home, there has been a significant decline in home purchases. Due to limited professional growth, residential financing was out of reach for many people. However, the recent uptick in economic growth is showing an increase in job opportunities, and soon this generation may be out searching the housing market for affordable options.
Home Loan Investment Bank, FSB is a full-service financial institution offering residential and commercial lending, personal and business banking, and mortgage services. Home Loan Investment Bank News is published on the company website to keep readers up-to-date with the latest residential, home improvement, and automotive financing news and events. Read more of the latest news here.
Last updated 3 days ago
May 03, 2012
Summer is just around the corner, and if you spent the last one suffering from the heat, consider remodeling your home. Home improvement financing can be used in key ways to improve the cool factor of a property.
Here are two remodeling projects to consider before the summer arrives:
1. Install screen windows. Increasing your chances of catching wisps of wind can quicken the cooling down process in the evenings. It works even better when you can create a cross breeze by opening windows across from each other in the room or house. Recent modern updates now allow you to install a screen in a wide variety of windows and doors.
"Today homeowners have a wide variety of styles of screens to choose from," Sheri Goodwin, sales manager of Premier Retractable Screens told Modern Home Guide. "Whether a homeowner needs to screen doors or windows, French doors, swinging doors, patio sliding glass doors, or large openings like patios or lanais, there’s a vast array of screen solutions to fit every need."
2. Purchase shades. While it may be odd, instead of using shades in the evenings, switch to using them throughout the day. Before you go to work, partially close windows and draw the shades down to approximately 5 inches from the window sill. This will allow your home to retain the cool air from the evening and keep the warming sunlight out.
Home Loan Investment Bank, FSB is a full-service financial institution offering residential and commercial lending, personal and business banking, and mortgage services. Home Loan Investment Bank News is published on the company website to keep readers up-to-date with the latest residential, home improvement, and automotive financing news and events. Read more of the latest news here.
Last updated 4 days ago
April 30, 2012
If your kitchen is looking a bit like a throw back from an episode of Mad Men, consider using home improvement financing to rip out the wall paper from inside the cabinets and update the appliances.
Why should you use home improvement financing to remodel a kitchen?
According to This Old House, a minor kitchen remodel costs approximately $14,773 and has an 87 percent return on investment if the property is sold one year later. A major kitchen renovation costs $38,769 and has an 80 percent return. No other home improvement has a greater return when it comes time to sell the property, and a kitchen renovation can make using the space much more enjoyable.
What items should be updated in a kitchen?
If you’re strapped for cash and you like the placement of your cabinets, consider taking off the doors and repainting or staining the wood. In addition, remember to strip away any wall paper, which allows you to treat the area and repaint. If you’re looking for another great tip, consider installing a backsplash to tie in the new color palette.
Home Loan Investment Bank, FSB is a full-service financial institution offering residential and commercial lending, personal and business banking, and mortgage services. Home Loan Investment Bank News is published on the company website to keep readers up-to-date with the latest residential, home improvement, and automotive financing news and events. Read more of the latest news here.
