Tips for Buying Used Furniture

nice kitchen with dining areaFor those with a limited amount of cash who are not in line to inherit family heirlooms, namely significant pieces of furniture, exploring the used market is a worthwhile venture. Not only is it an excellent way to save money, buying furniture second hand ensures that your rooms will reflect your individuality instead of representing just another Pottery Barn or Ikea catalog page.

Even though you may be able to get great prices on gently used items, it pays to have a game plan when shopping for used furniture. Here are 7 tips that will help ensure that steal deal is also a sound investment.

1. Do not buy random things. Before you begin your quest for bargain furniture, carefully formulate a plan. Evaluate each space or room where you are in need of pieces to ensure that the item in question will fit. While you’re at it, make notes regarding the width and height of your entrances too. How sad would it be when you’re unable to get that incredible find through the door?

2. Carefully measure and record all of the details in a binder style notebook that you will keep on hand during furniture finding missions. Come to some conclusions about what you like and what you want. Peruse catalogs and magazines for pics of styles you favor-clip and save in your notebook.

3. Educate yourself. Bone up on furniture styles, construction methods, and manufacturers. That way, you’ll be a better judge of what’s what and whether or not something is actually a good deal. Learn to discriminate between the high end and cheap knock-offs. Also familiarize yourself with the various styles and periods of furniture. There’s classic, such as Duncan Phyfe, Queen Anne, and Chippendale, true Mid-Century and then unauthentic variations. Taking the time to learn about what constitutes timeless, good lines will be hours well spent. Also practice envisioning how various pieces of furniture can be changed with different paint, new fabric or hardware.

Here are some tips from on buying used furniture from the Furniture Detectives:

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How Does the “Home of Tomorrow” Compare to Today’s Modern Home?

student housing made from repurposed cargo containersIn 1957, the Monsanto, “Home of Tomorrow” was unveiled at Disneyland in California. The modern marvel took years to design and construct. As the brainchild of the Monsanto, Company, the Massachusetts Institute of Technology and Walt Disney Imagineering, there had never been anything quite like it, except maybe on “The Jetsons”. Compared to a giant plus sign, it was set above the ground on a short pedestal-like foundation. The Winner Manufacturing Company of New Jersey handled the extensive fiberglass construction, right on site within the confines of the theme park’s “Tomorrowland.” The inside right angles of the + sign contained large plate glass windows and the home’s exterior color was in space age, dazzling white.

Heralded as “the home of the future”, it was made almost entirely of plastic and the interior featured numerous molded plastic components. Reputed to be an example of a home circa 1987, there were state of the art appliances such as a microwave oven and recessed dishwasher. At the end of its first 6-week run, over 435,000 visitors had toured the innovative residence.

So, just how did the “Home of Tomorrow” compare to some of today’s houses? Its kitchen probably contained the most interesting modern conveniences. Lots of built in storage, cabinetry with no visible hardware, and one hard plastic surface after another, certainly made it easy to keep clean. The microwave surfaced from its under the counter hiding spot with the push of a button. The dishwasher was powered by an ultrasonic wave system and served as the storage unit for all of the home’s plastic dinnerware. Perhaps the most advanced appliance the home boasted was the refrigerator, which consisted of three separate spaces: fridge, freezer, and hold on to your laser gun Flash!-an irradiation bin. What? No such thing at your house? Ionizing radiation is used to keep food from spoiling.

Throughout the rest of the home, plastic, wood, fiberglass, and manmade fibers were used. Along with the structural aspects, that is also what the furnishings were produced from. Those materials were deemed durable, versatile, rot resistant, water proof and easy to clean, and as for everything except the wood, easy to inject vibrant colors into for permanent, bright finishes. Most of the lighting was recessed overhead and the ceilings contained polarized plastic panels to reduce glare and shadows. Here’s a list of the other notable bells and whistles:

  • Central HVAC system with a main control that allowed each room to have a different temperature, depending on the need. The integrated push button control panel also had a switch that could release one’s favorite air freshener into any room.
  • Built-in stereo and recessed speakers in the livingroom
  • Plastic flooring
  • Hands free telephone system and a new-fangled push button phone
  • Wall-mounted flat screen TV
  • Bathroom lavatories could be raised or lowered to suit the user’s height. Also in the bathroom, molded storage attractively hid away towels and there were built-in recesses specifically for toothbrushes and razors.
  • Closed circuit security monitor
  • Two-way video communication system throughout the house
  • Thermal paned plate glass windows with safety glass

Please be aware that the majority of the home’s innovations were only mock-ups and non-functioning prototypes. The microwave oven is the main exception. The home remained at Disneyland until 1967 and reportedly had 20 million visitors.

[Other stories you might be interested in: Upcycled Shipping Containers Used as Student Housing & 4 Home Design Trends for 2013]

Sadly, after 1967, it was torn down and the difficulties the wrecking ball company experienced are legendary. Its pedestal foundation could not be budged and has been painted green and converted to a planter as part of another attraction that stands on the same site.

Although it certainly had some conveniences that many of us could not imagine living without today, it lacked the warmth and coziness that most homeowners seek. While ultra contemporary interiors may sport some glass, metal or Formica, an eclectic mixture of textures seems preferable, regardless of a home’s architectural style. We are also much more aware of the dangers associated with plastics emissions!

Of course the powers that be regret demolishing the high-tech home. That’s why Disney has joined forces for a conceptual exhibit called the “Innovations Dream Home.” The $15 million project is a joint effort by the Walt Disney Corporation, homebuilder-Taylor Morrison, Hewlett Packard, Microsoft, and LifeWare, software.

CNBC Says Women Are Driving the Rental Boom

Woman at home in her living room.The housing crisis created a huge demand for rental property, and even as the housing market seems to be in the full recovery mode, the demand for rentals is not slowing down. Diana Olick, of CNBC, reported on the phenomenon in February. She explained that there are 3.1 million more women in colleges than men and 4 million more female college graduates in the workforce, who are aged 25 and up.

Why this matters is because all of these women are after certain features that renting instead of buying, allows. Another current trend that is driving the demand for more residential rental units for single females is that 41% of children are born out of wedlock. In her report, Olick also notes that the current birth rate and fertility rate in this country are at all time lows. It is a fact: married couples, especially those with children, are the main sector of the population that make home purchases. Interestingly enough, however, single women make up about 20% of home buyers, according to data from the National Association of Realtors. While 20% isn’t much, when you see that single men make up half that amount (10%), it’s safe to assume that women are beginning to dominate more than just the rental market. But for the purposes of this article, we’ll explore just how the trend has shifted in rental demand. [Read more...]

10 Renovating Mistakes and How to Avoid Them

smiling woman with paint swatches and man on ladder

Home renovation can be a big job – but by avoiding a few common mistakes, your project can be a success.

Renovating a home can be a huge undertaking. While most homeowners employ the help of professionals, there are a select few that try to tackle the job on their own. This is understandable, as home renovation companies and contractors can be pretty expensive, but depending on your level of handiness and your ability to devote time to the project, you may be better off hiring a pro. (See our related blog post, “5 Home Repairs Better Left to the Pros.”)

If you’re one of those “do-it-yourself” types, and insist on completing your renovation project without hiring help, make just make sure you prepare yourself for the job ahead. One way of doing this is to conduct a little research on what NOT to do in a home renovation project. To help, we’ve compiled a list of some common home renovation pitfalls and how to avoid them. If you have any suggestions to add to our list, feel free to leave a comment below!

1.  Taking On More Than You Can Handle
A very common mistake among DIY home renovators is shooting for the moon, when they can barely make it past the clouds. The best way to avoid this mistake is to be honest with yourself when it comes to your budget, abilities and resources.

2. Cutting Corners
This can be a tempting, but dangerous mistake to make when completing a home renovation project. Whether you choose to buy cheap materials, take shortcuts to save on time or neglect to take certain safety precautions, you could be putting your home and yourself at serious risk. Avoid this mistake by being organized, practical and safe. Even if something doesn’t seem like a big deal to you, its better to err on the side of caution. [Read more...]

New Option for the Home Office Tax Deduction

Man crunching numbers on this calculator to determine is refinancing makes sense.According to the U.S. Census Bureau, more Americans are working from home than ever before. Technology has enabled drastic changes to occur which make the prospect much easier. The use of the Internet and Skype can reduce costs considerably, plus millions of dollars are saved on gas, rent, utilities, and for many, dressier work clothes. It’s a no-brainer that working from a home office is typically very economical for both the employer and the employee. The figures gathered by the U.S. Census revealed that close to 4 million individuals have joined the ranks of the home office crowd since 1999. That adds up to almost 13.4 million!

One perk that influences many to try working from home is the possibility of a tax deduction. However, over the years, hopeful taxpayers have discovered that taking that deduction is a complicated mass of forms and not worth the trouble. Another issue has been that tax auditors have meticulously analyzed claims and questioned if certain home offices actually served as an exclusive, specifically dedicated space in which to work. Frustrated work from home employees would often just give up on the possibility of a tax break.  [Read more...]

Recommended Reading: 5 Essential Books to Help You Navigate the Challenges of Home Ownership

woman on floor with laptopThe prospect of owning a home is certainly exciting. However, to the uninitiated or inexperienced individual it can be a little more than daunting. Just as with children, homes do not come with a “how-to” manual. It is true that a home’s key systems, such as the HVAC, irrigation, plumbing, and electric may come with instructions and warranties. After closing, the seller may also present you with a stack of folders and paperwork detailing the ins, outs, and quirks of your new residence. However, in spite of any information you acquire, it is an excellent idea to possess a few “how-to” guides of your own. Depending on your property, there will be either a short or long list of routine maintenance checks that you will be responsible for. Unless you plan to have an onsite handyman and gardener, owning reference books for what to do and when to do it, simple repairs, and landscaping, will be essential. Here is a short list of some of the most popular and helpful books for homeowners:

The New Homeowner’s Handbook-What to do After You Move In
This book goes beyond the usual home repair and maintenance suggestions. It addresses other aspects such as finances, insurance and how to be a good neighbor. There is a chapter on decorating and another on safety. See more here: http://www.amazon.com/The-New-Homeowners-Handbook-After/dp/0793138183/ref=sr_1_10?ie=UTF8&qid=1360771175&sr=8-10&keywords=Homeowners+Books [Read more...]

3 Helpful Sites for Researching Your New Neighborhood

two story houseIf you’ve just moved into a new home and a new neighborhood, you may be curious about the area and its features. Even if you have yet to make the transition, it’s sometimes helpful to research your future neighborhood, especially if you’re relocating to a completely unfamiliar place.

In this post, we’ll highlight a few useful sites for checking out your new home turf. Of course, much of the information you will find on these sights can be provided to you by your real estate agent. (See related article, “5 Reasons to Use a Real Estate Agent.”) But if you’ve decided to go it alone on your journey to a new home, taking the extra time to investigate your surroundings is wise.

Take a look at our list of Helpful Sites for Researching Your New Neighborhood, and feel free to add your own suggestions in our comments.

1. Neighborhood Scout

Neighborhood Scout is a great resource for getting the latest stats on crime rates, schools, real estate data and more. You can search by city, state or specific address. You can access a good deal of the site’s general info for free, but certain data will require a monthly subscription fee. Most consumers won’t need to subscribe to get the info they need, but if you feel so inclined, their rates are as follows:
$19.99 per month for 6 month membership
$26.99 per month for 3 month membership
$39.99 per month for month-to-month membership

Just to give you an idea of what you can discover for free, we did a search using our company’s office address. Here’s a small sample of the data we found:

9 Sylvan Way
Parsippany, NJ 07054

Median real estate price: $322,599
Average rental price: $1,102
Current vacancy rate: 2.5%
Average annual real estate appreciation rate: +6.12%
Number of school districts: 1
Number of schools in district: 14
Average number of students per classroom: 12
Crimes per square mile: 24 (national median is 39.6) [Read more...]

Three Great Non-Sunshine States to Retire in

The pull of the sunshine states has become an American cliché. Florida is strongly associated with older people and retirees; much of the Southwest has followed suit. However, for the active retiree seeking a bit of adventure in their golden years, the rest of the nation still has a great deal to offer. Here we suggest three states which may not be known for their sunshine, but have unique appeals of their own.

Texas mountains

Texas offers scenic beauty, recreational activities and top-grade medical facilities.

1) Texas

The Lone Star State may have plenty of sunshine, but it is often overlooked as a retirement destination. And that’s a bit of a shame. Texas has a great deal to offer retired folks. A thriving state economy and top notch medical facilities give retirees the support they need, while the state’s social and geographical diversity offer them plenty to do. From the music filled, funky streets of Austin to the sunlit shores of Galveston Island, to the rolling green Hill Country to the mystic deserts of the west, Texas is an experience as much as it is a state in the Union. Local culture and flavor abound, as do recreational activities of all kinds.

2) Colorado

The high Rockies may seem a bit daunting, and the long winters downright intimidating. However, Colorado is a wonderful retirement destination. The natural beauty leads one toward outdoor recreation and active living, while the progressive social atmosphere and warm, welcoming social scene make transplanting a snap. Colorado has one of the fastest growing senior populations in the nation, driving by the solid economy, relatively affordable cost of living, and the long lifespan typically enjoyed by its residents. From small towns in the mountains to the thriving streets of Denver, Colorado has something to offer everyone.

Check out this cool video to get a glimpse of one of Colorado’s most breathtaking natural attractions – Seven Falls:

 

3) Idaho

Another mountain bound choice, Idaho may seem even more unlikely than Colorado. However, it also has a great many hidden secrets. Some of the best small towns in the nation are found in Idaho’s hills, as are some of the most beautiful and popular resort communities in America. Idaho has a strong economy, a low crime rate, and a great deal to see and do. Arts, music, and film festivals abound, and recreational activities are available year round. Idaho may be a bit out of the way, but the combination of laid-back lifestyle and the opportunity for adventure may be the perfect fit for an active retiree.

Think Idaho is just a place where potatoes come from? Check this out!

 

If you’re considering making a permanent move to any of these popular retirement destinations, be sure to let American Financial Resources help with your home financing needs. Our licensed mortgage consultants are available to serve you, no matter what state you live in. Call today to learn more: 1-800-634-8616

Five Great Small Towns in the Midwest

Man with red shirt in foreground with wife and baby in background

There are several great places to call home in the Midwest. The cities featured on our list are great for young professionals, or those starting a family!

Telecommunting has become a reality for many Americans, and the job market has shifted in part away from large metropolitan areas. To that end, many white collar workers are opting for small town life as opposed to the hustle and bustle of the big city. To the delight of many of them, a number of small towns around the nation offer a surprising number of amenities while maintaining their charm and laid-back paces of life. 

Oft under-appreciated, the Midwestern US offers a great deal for those looking to get away from it all. Here are five great small towns which show the best of the region.

(Real estate figures courtesy of Trulia.com for the week ending Jan. 30, 2012)

1) Dubuque, Iowa

Dubuque may be the perfect size for an American town: large enough to be an economic and cultural center, but small enough to feel intimate. A successful local economy keeps unemployment at roughly half the national average while offering a diversified array of job options. A high median income, short commute times, and good schools make this an appealing destination for younger professionals and families with children. Coupled with it scenic location on the Mississippi River and growing arts scene, Dubuque appeals on a number of levels.

Avg. Listing Price: $172,729
Median Sales Price: $147,000 [Read more...]

4 Home Design Trends for 2013

green vase and white picther

Expect to see more bold greens and rustic decor in 2013.

This year’s going to be interesting in the world of home design. Last year, we saw a resurgence in things like outdoor rooms, multigenerational housing features, bright colors and rustic accents. This year, these options are gaining even more attention and a few new trends have popped up along the way.

Here are some of the major home design trends you can expect to see in 2013 – some of these may surprise you!

1. Multigenerational housing is hotter than ever.
With the baby-boomer generation advancing in age and more young professionals deciding to wait before “leaving the nest,” it makes sense that we’re starting to see a major comeback for multigenerational living. In other parts of the world it’s always been commonplace for a family of two, or even three generations to share the same roof. Reasons for this may range anywhere from cultural practices to practical solutions for limited space. Here in the USA, economic factors seem to be the driving force. With recent college grads burdened by student loan debt, many are deciding to wait and save before trying to get approved for a mortgage. While living with mom and dad may not be your ideal situation, it’s hard to argue against the financial benefits. And for the older generations who may not be ready or willing to live in a retirement community, sharing a home with their grown kids and/or grand-kids can be a great way to save money, be taken care of if needed, and still retain some of their independence.

Expect to see more…

  • Mother-in-Law suites
  • finished apartments over garages
  • separate entrances/exits for bedrooms
  • finished basements with bathrooms and kitchens [Read more...]