Monday, December 22, 2008

Homes and life expectancies for major appliances

With the economy in the toilet, and Florida being one of the highest foreclosures rated states, I'm been thinking about taking my cash and reallocating it towards purchasing a home, this being a buyers market and all.

What does this really mean, it means that the people who are selling their homes are doing so because they have to, not because they want to. Meaning you are able to secure a house for a lower price than normal, sometimes even less than current market value deems the house. This also means that houses available on the market are slim pickings. Again, people are selling because they have to move.

Because we have the upper hand, we don't just want to settle for the first house we see, even though some of the houses are magnificent, they just don't satisfy 100% percent of our need. Some of the things you may want to look at when purchasing a home is the life expectancy of appliances, with so many houses needing renovations in my local area, I went ahead and look this up and found this list from Freddie Mac.

One of the things we are looking at is kitchen remodeling, it seems to me that this is why we are a nation of obese individuals, we focus so much energy into kitchens because as Americans all we do is think about food, dream about food, and live our life revolving about food. With that in mind, some sites estimate a kitchen remodeling job to run $3,000-$100,000 but average $12,000-$22,000. Better Homes and Gardens provides some sample kitchen layouts and ideas for cheap updates.

The bottom line is that nothing beats being patient. Don't rush into purchasing a home. This is a big purchase and you'll know the right home when you walk into it. If you are going to do any updates, be sure to get at least three different quotes from licensed contractor and more importantly ask for references and if you are able to visit some of their customers homes, even if you intent not to visit the home, if they say yes then you know your working with a good contractor, if they say no, RUN!!!!

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