How to Manage a House Flip
Be a Smarter Homeowner
On today’s episode, we discuss our tips for house flipping. Most people are aware of the HGTV version that shows a complete home remodel in a 1-hour episode. This conversation helps to peel back the layers and walk-through the financial and physical aspects that are crucial to executing a flip. Listen to learn the steps and processes to know what homes and locations to invest in, how to plan ahead for taxes, and what projects make a home more valuable. IN THIS EPISODE: [01:01] What is a house flip and how to find the best location for your flip? [07:10] What’s involved in a...
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How Health and Home Maintenance Go Hand and Hand
Be a Smarter Homeowner
We want to speak about how your home can impact your health. You might not realize but regular home maintenance plays an important role in protecting you from illness. On today's episode, we discuss four key components to consider when thinking of your health as it relates to your home. Listen as we give helpful tips related to air, water, fire and earth and the damage they can cause. IN THIS EPISODE: [01:20] What is a healthy home and why it’s important. [2:45] How to protect air quality in your home. [09:20] The two main ways that water in your home can affect...
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Projects You Can Do Yourself During Home Remodeling Month
Be a Smarter Homeowner
May is Home Remodeling Month but we don’t need to always do large and expensive projects. We can transform our homes with simple, low-cost, DIY projects. In this episode, we discuss the different types of projects you can do that are affordable, easy and can often be completed in a weekend. Tune in to hear our tips to refresh your home with simple DIY projects. IN THIS EPISODE: [01:50] Cost-effective exterior project ideas. [05:37] The benefits of installing low voltage lighting outside. [12:26] Interior DIY project ideas. [16:00] How to refresh a room with decorative and...
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How to Get Your Home Ready to Sell or List With Jill Elliott
Be a Smarter Homeowner
For homeowners getting ready to sell their homes, what can or should you do to get your home ready to list? On today's episode, John and Beth are talking with Jill Elliott, a Broker Associate with over 10 years of experience in all aspects of real estate. Jill brings her realtor experience to share tips on what homeowners can do to list a home. She also shares stories of her experiences and suggestions from her own client's journeys through real estate sales. Jill offers advice on how to work with a real estate agent in your area and her own suggestions on how to market a home and move through...
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How to Interview a Contractor for a Remodel Project
Be a Smarter Homeowner
Interviewing a remodeling contractor for some may seem challenging. But we have some simple tips to help you have a fabulous relationship with your contractor. In today’s episode, we walk through the steps to consider before, during, and after a remodel project. Listen in to learn the tips and tricks on how to start your project off on the right foot and end on a good note! Questions to consider when starting a project: What should a homeowner do before researching for a remodeling contractor? What do homeowners need to look for when researching a contractor for a remodel...
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Managing Multiple Homes
Be a Smarter Homeowner
Many homeowners are investing in vacation homes or rental properties. And because they are investing in owning multiple homes, they have added concerns. We are going to talk about these additional concerns and what you need to do in order to successfully manage more than one home. Listen as we discuss maintenance schedules, the benefits of hiring a property manager, and the importance of a home inventory. IN THIS EPISODE: [01:27] Beth’s experience with managing more than one home [04:43] What is a home inventory and why is it important for vacation and long-term rental...
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The hybrid home, what does it look like?
Be a Smarter Homeowner
The COVID-19 pandemic has forever changed the face of America’s workplace. In fact, an increasing number of folks might find their “new office” feels a lot like home – because it is literally their home. Our post-pandemic “return to the office” may look different with hybrid or fully remote work models rapidly rising in popularity. Studies from Accenture support this trend with 83% of workers believing a hybrid model would be optimal going forward. Further, 87% of managers believe working from home is the future, according to Remote-How research. While the new dynamic...
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What to Expect as a First-time Homeowner
Be a Smarter Homeowner
When it comes to homeownership, first-time homeowners often have challenges. These challenges often surround home maintenance. Understanding the types of home maintenance that are necessary to manage a home and why home maintenance is important to keeping a home operating properly. If as a first-time homeowner, you need to hire someone to help with these tasks, how do you contract and interview these service providers? What can first-time homeowners look for when it comes to home management? Listen as John and Beth share their experience and tips for first-time homeowners. IN THIS EPISODE: ...
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Get Your Home Organized with Susie Hayman
Be a Smarter Homeowner
January is Get Organized Month. With that one of the best places to start is by taking a home inventory or organizing other areas around the home. In today’s episode, Beth is talking with the past president of NAPO (National Association of Professional Organizers), Susie Hayman to discuss organization and what we can do to be better organized. We will cover how Get Organized Month came to be, how HomeZada can help you become better organized around your home. We will discuss physical and digital organization. We will discuss the benefits of being organized and how NAPO members help...
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Staying on Top of Home Finances
Be a Smarter Homeowner
In today’s episode, John and Beth talk about home finances. Which includes more than just the aspects of buying or selling a home. We discuss the financial nuances of home buying, but we also talk about the importance of tracking and managing ongoing finances as a homeowner. We break down common homeowner’s expenses, how to prepare for them and save money, why you should keep track of the value of your home, and ultimately, how to make smarter financial decisions related to your home. IN THIS EPISODE: [02:06] Home finances related to buying a home [03:25] Closing costs and down...
info_outlineIn today’s episode, John and Beth talk about home finances. Which includes more than just the aspects of buying or selling a home. We discuss the financial nuances of home buying, but we also talk about the importance of tracking and managing ongoing finances as a homeowner. We break down common homeowner’s expenses, how to prepare for them and save money, why you should keep track of the value of your home, and ultimately, how to make smarter financial decisions related to your home.
IN THIS EPISODE:
- [02:06] Home finances related to buying a home
- [03:25] Closing costs and down payments
- [04:10] Understanding and tracking your investment
- [11:23] Home equity assets
- [12:49] Home inventory assets
- [14:35] Regular ongoing home expenses
- [18:59] How do you budget for ongoing home expenses?
- [23:23] Maintenance/repair expense
- [25:33] Hiring people for infrequent maintenance
- [28:40] How do you budget for these expenses
- [30:06] Home improvement expenses
KEY TAKEAWAYS:
- Your mortgage amount, down payment, and closing costs are all things to keep in mind when buying a home.
- Having title insurance is important because you want to protect the property that you're buying, and title insurance does do that. It helps identify the long history of where the property was once purchased.
- Action Step: After you buy your home and move in, track how your estimated value of your home is increasing.
- Calculating your home equity is a simple equation. It’s the estimated value of your home minus the remaining balance on your mortgage. That's the percentage that you own.
- The two most important ways that you can increase your equity is you live in a hot neighborhood and the value is going up and you're paying off your mortgage.
- Regular home expenses include mortgage and insurance, utilities, service providers, lawn care, maintenance contractors, property taxes.
- It’s important to track what the market thinks your home is worth and what your county thinks your home is worth, which is how your property taxes are assessed based on.
- Action Step: Commit to creating a budget for home expenses (regular, annual, and irregular), track the actuals and then use that to make better smarter decisions in the future.
- Your home maintenance may be 1 to 4% of the total purchase price of your home. 1% if your house is less than five years old but once your house gets between five and 15 years old, that percentage increases to 2%.
BIO:
Elizabeth Dodson is a focused technology entrepreneur with successful skills in business development, sales, marketing, and finance with over 20 years of successful management of revenue producing partners. With great organizational skills balancing multiple roles and responsibilities as an entrepreneur and the drive to increase company revenues and user growth for a consumer technology solution with a partner solution to support the homeowner market.
John Bodrozic has start-up entrepreneur experience beginning with boot strapping, profitable growth, securing venture and corporate venture funding, acquisitions of technology companies, and selling a business to a publicly traded company.