And if you want to skip the contractor? There’s a financing option for that, too. Let’s talk EasyPath™ Renovation.

What is EasyPath™ Renovation?

EasyPath is a program that allows you to roll your mortgage and renovation costs together, without having to hire a contractor or make big purchases on your credit card. Designed for home updates completed through major retailers like The Home Depot, Lowe’s, and Menards, EasyPath can be used with conventional renovation mortgages like CHOICERenovation^® and CHOICEReno eXPress^®.

6 perks of taking the EasyPath:

• Loan amount can be based on the projected value of your home after renovations
• Leverage the same interest rate as your home loan instead of your credit card
• Down payments as low as 3% to 5% for purchase transactions
• Purchase and refinance transactions are eligible
• Cardinal makes 100% payment to the retail store to purchase and install the project
• Fixed and adjustable rates available

When is EasyPath the right choice?

Whether or not EasyPath is right for you comes down to your timeline and the scale of your projects. If you’re looking for a faster financing process, EasyPath typically takes less time than working with a contractor. While you save time by eliminating the contractor search and independent quoting process, it also means that larger projects aren’t ideal for EasyPath. The bigger and more complicated the renovation project, the more likely you are to need a specialized contractor to handle it.

The EasyPath process, explained.

With traditional home renovation loans, you have to find a contractor and have your lender verify that they’re qualified for your planned renovations before you do anything else. With EasyPath, you get to skip that part. Here’s how it works:

Step 1: You visit an eligible big box chain store and complete a bid.

Step 2: Next, Cardinal’s Renovation Support Team reviews the bid, consults with the store, and orders an appraisal.

Step 3: Finally, the appraisal is completed based on the projected value of your home after the renovations are finished.

Bonus home renovation loan tips.

If you hadn’t noticed by now, you’ve got a lot of options when it comes to home improvement financing. Whether EasyPath is the right one for you or not, here are some tips to keep in mind before you apply for a home renovation loan.

• Budget for the unexpected
• Get multiple bids to find the best price
• Don’t try to do it all yourself
• Tackle one project at a time

When you’re ready to start your home renovations, we’re here to help finance them.

Want the perks of a home renovation loan without the process of hiring a contractor? EasyPath™ Renovation might be your solution.

The post Home Renovation Loans: 6 Reasons to Take the EasyPath™ appeared first on Cardinal Financial.

5 types of refinances for home improvement

• Cash-out refinance
• FHA 203(k)
• CHOICERenovation^® and CHOICEReno eXPress^®
• HomeStyle^® Renovation
• EasyPath™ Renovation

After we break down these top five types of refinances for home improvements, we’ll go over how to determine the best fit for your goals.

Cash-out refinance

A cash-out refinance* is not officially a renovation refinance. You can use the cash-out funds from your home equity however you see fit. But, many homeowners choose this type of refinance with the intention of using the cash out of their home equity to finance home improvements.

*Using your home equity to pay off debts or make other purchases does not eliminate the debt or the cost of the purchases, but rather increases the loan amount of your mortgage to be paid according to your new mortgage terms.

FHA 203(k)

From complete structural changes to minor home renovations, FHA 203(k) programs allow you to finance home rehab costs and your mortgage in one convenient loan. Backed by the Federal Housing Administration, FHA 203(k) loans offer Standard and Limited options. The right one for you depends on the scope of your planned home improvements.

FHA 203(k) Standard

• Structural changes allowed 
• $5K minimum, no maximum repair amount
• Landscaping and hardscaping allowed 
• 180-day maximum completion time
• Manufactured homes allowed 
• HUD consultant required

FHA 203(k) Limited

• Minor remodeling allowed
• No minimum, maximum $35K repair amount
• Landscaping and hardscaping not allowed
• 180-day maximum completion time
• Manufactured homes allowed
• HUD consultant not required 

CHOICERenovation^® and CHOICEReno eXPress^®

Freddie Mac’s CHOICERenovation is a mortgage that allows you to include your renovation costs in your home loan balance. CHOICEReno eXPress is essentially the same program, but for smaller-scale upgrades. What makes these two refinance options different from FHA (203)k Standard and Limited loans is that they’re not backed by any government entity. They are Conventional loans. That means different lenders may have different qualifying criteria.

HomeStyle^® Renovation

Fannie Mae’s HomeStyle Renovation is another Conventional refinance option to fund your home upgrades. It functions similarly to a CHOICERenovation loan, but you can combine it with other Fannie Mae products like HomeStyle Energy (designed for home improvements intended to conserve energy, cut utility costs, and increase the home’s resilience against natural disasters) and HomeReady (designed for low-income borrowers).

EasyPath™ Renovation

EasyPath Renovation is a program that allows you to roll your mortgage and renovation costs together, without having to hire a contractor or make big purchases on your credit card. Designed for home updates completed through major retailers like The Home Depot, Lowe’s, and Menards, EasyPath can be used with Conventional renovation mortgages like CHOICERenovation and CHOICEReno eXPress. It’s important to note that EasyPath itself is not a mortgage, it works with your renovation home loan to help you maximize the benefits.

EasyPath highlights

• Loan amount can be based on the projected value of the home after renovations
• Leverage the same interest rate as the home loan instead of your credit card
• Cardinal makes 100% payment to the retail store to purchase and install the project
• Fixed and adjustable rates available

How do I know which refinance for home improvements is right for me?

Like any big financial decision, there are a lot of factors to consider before committing to a renovation refi. Some of those will be unique to you, but here are a few key questions to ask yourself to narrow down your financing options.

What’s the scale of my planned renovations?

As we covered in this blog, different refinance mortgages are designed for different types of home projects. If you’ve got smaller updates in mind (like fresh paint, new floors, or new appliances), a loan like CHOICEReno eXPress is likely a better fit than CHOICERenovation or vice versa. Some loans, like HomeStyle Energy, are created for very specific types of updates. So, if you’ve got specialized renovations in mind, there might just be a niche loan for that.

How much equity do I have in my home?

Your home equity is what your home is worth in the current real estate market, minus the amount owed on your home loan. If your equity is high, a cash-out refinance is a popular way to leverage that equity. Plus, you can use any funds left over after renovations however you see fit.

What’s my credit score?

The importance of your credit score doesn’t diminish after buying your home. When you refinance, it still impacts the rates you can get and which refinance loans you can qualify for. If your credit score is higher, Conventional renovation loans might offer more competitive rates. If you’re still building your credit score, government-backed options like FHA 203(k) could offer you the flexibility you need.

At the end of the day (and this blog), the right mortgage lender should provide all the guidance you need to decide on the best way to fund your home renovations. So, don’t stress too much about having all the answers before you start the process. You’ve got this!

Rates aren’t the only reason to refi. It’s also a great way to fund home upgrades like new flooring, landscaping, and even structural changes.

The post Refinance for Home Improvements: How to Choose Your Best Fit appeared first on Cardinal Financial.

How to Move with Pets: 7 Tips to Make it Easy

• Start packing early
• Find pet-friendly accommodations if needed
• Set up a designated moving day space
• Get the right gear
• Make a travel plan with your current vet
• Update your pet’s microchip
• Schedule a check-up with your new vet

1. Start packing early

Pets aren’t always a fan of change. To ease the transition, it’s important to pack early and gradually. This way, your pet has time to process that something new is happening and adjust accordingly. After all, imagine if you woke up one day and all your belongings were suddenly gone with no explanation. You’d be stressed, too.

2. Find pet-friendly accommodations if needed

Depending on how far you’re moving, you may not need this step. But, if your move involves multiple days of travel or a gap between moving out and moving in, wherever you stay in the interim needs to be equipped for your pet. Beyond simply identifying as a pet-friendly hotel or house, consider all the same factors that went into choosing your new home (outdoor access, windows, etc.) when choosing temporary accommodations. You can afford to be a little less selective here since it’s not for the long term. Still, the more comfortable the move is for your pet, the sooner they’ll settle in and feel at home in the new place.

3. Set up a designated moving day space

For the sake of both your movers and your pets, a designated pet space for moving day is a must. Backyards, friends’ houses, and large crates are all options for your canine kids. Cats can be a little trickier. If they have a favorite hiding spot and it’s in a place that can be closed off from the rest of the home, consider making that their designated area. This can help minimize stress since it’s a place where you know they feel safe. Wherever you set up base, make sure your cat has food, water, and a litter box. And, of course, communicate to your movers which areas are off-limits.

Pro Tip: If you have turtles or other pets that live in their own enclosed environment, keep that enclosure out of the way and clearly marked as NOT an item for your movers to pack up.

4. Get the right gear

Unless you’re moving right across town, you’re going to need more than just a carrier to transport your pet. Your needs will vary according to your pet, but here are some common items to consider:

• Leash with harness that can be hooked to a seatbelt
• Packable food and water bowls
• Disposable litter box
• Collars with current ID tags in case your pet gets out
• Crate with puppy pads

Whatever gear you get, don’t forget to try it out with your pet leading up to the move. The more acclimated they are to their new carrier or harness, the less stressed they’ll be on moving day.

5. Make a travel plan with your current vet

Leading up to the move, consult with your vet to create a travel plan for your animal. Especially if your pet gets carsick or has anxiety, you’ll want to discuss the possibility of sedatives, anti-nausea medicines, or anxiety medicines for the trip.

Does your dog spit out pills without fail? Then a liquid dose might be better. Is your cat hopeless in the car? Then your best bet may be a sedative (in the correct dose) to help them sleep through the drive. These are the details your vet can help you nail down in the safest manner possible.

6. Update your pet’s microchip

We recommend taking care of this as soon as you’re moved out of your old place. That way, if the worst-case scenario happens and your pet gets away from you during the move, any animal shelter that takes them in can find you. This is also just one of those small but important details that tend to get forgotten during the flurry of moving, like updating your billing address or forwarding your mail. The sooner you check it off your list, the sooner you can get back to the bigger issues like unpacking.

Not sure if your pet is microchipped? If you adopted them from a shelter, microchips are typically included along with spaying/neutering. Your vet can also help you check for a microchip. Just keep in mind that microchips can’t track your pet. Their function is to store your contact information so that if your pet ends up at a shelter, the shelter staff can notify you. The average person can’t access information on the microchip, so it’s important to keep your pet’s collar tags up to date, too. If you want to track your pet, there are also plenty of GPS tracking tags available that can be added to their collar. 

7. Schedule a check-up with your new vet

Moving with pets usually entails finding a new vet. Many vet clinics have a weeks-long waitlist for new patients, so don’t put off setting up an appointment until your pet needs one. Schedule a check-up as soon as you can. This is also a good opportunity to address any of your pet’s issues that may have arisen due to the stress of travel, such as gastrointestinal problems, anxiety, or aggression.

Any other tips for how to move with pets?

When it comes to how to move with pets, there’s no single right way to go about it. The best advice we can give you is to adjust to your pet’s unique needs. And don’t forget that their biggest insecurity about moving is likely about you leaving them behind. So, make sure you give your pet some extra head scratches, belly rubs, and treats to let them know you’re not going anywhere. At least, not without them.

The more comfortable you can make your pet during your move, the sooner you can all start to feel at home in your new place.

The post How to Move with Pets: 7 Tips to Make It Easy appeared first on Cardinal Financial.

15 Confusing Mortgage Terms Explained

1. Adjustable-Rate Mortgage
2. Amortization
3. Annual Percentage Rate
4. Attainable Housing
5. Buydown
6. Closing Costs
7. Default
8. Discount Points
9. Due Diligence
10. Easement
11. Eminent Domain
12. Escrow
13. First-Time Homebuyer Programs
14. Lien
15. Loan Estimate

Understanding the terms you’ll see on your home loan documents is key to getting more out of your mortgage.

The post Top 15 Confusing Mortgage Terms, Explained appeared first on Cardinal Financial.

Top 10 Fall Decorating Ideas 2024

• Jewel tones
• Copper metallics
• Warm neutrals
• Textured touches
• Dried floral arrangements
• Fairy lights
• Front porch displays
• Personalized pumpkins
• Foraged accents
• Rustic elements

Jewel Tones

When we think of fall decor, shades of red, yellow, and orange tend to dominate. You don’t have to limit your palette if you don’t want to, though. Jewel tones of any color—particularly purples and blues—can balance those warmer shades and add a touch of elegance to your fall vibe.

Copper Metallics

Silver and gold are classic holiday metallics, but don’t overlook copper when it comes to your fall decor inspo. Vases, candle holders, and even copper garlands are great ways to add some shine to your 2024 fall decor. Your table settings are another easy way to incorporate this 2024 fall decorating idea. Start with copper napkin rings and serving dishes, and see where it takes you.

Warm Neutrals

You can never go wrong with neutrals. This fall, try infusing some extra warmth into your space with tans, off-whites, and chocolatey browns to balance out your more colorful accents. Neutral throw blankets, pillows, and table runners are easy ways to create a calming, inviting atmosphere in your home.

Pro Tip: If you’re putting your home on the market during the holidays, keeping your seasonal decor neutral is key. Potential buyers should be able to easily see themselves in the space.

Textured Touches

Texture isn’t just about a physical feeling—it also adds visual dimension to your decor. We often associate furs, velvet, and satin with the winter holidays. So, which textures will help your home reflect the harvest season? When in doubt, take a rustic approach. Woven textiles, natural wood, and leather are a great place to start. And of course, don’t forget the cozy flannels.

Dried Floral Arrangements

If there’s one downside to fall, it’s that most fresh flowers are not in season. But that doesn’t mean your home has to be devoid of blooms. Dried floral arrangements not only add a rustic, seasonal touch to your decor, but they also have one important advantage over fresh flowers: There’s no maintenance required.

Fairy Lights

There was a time when we associated fairy/string lights with freshman dorm room decor, but in 2024, they’re making a major comeback in our (sort of) grownup homes. Whether you’re stringing them in a canopy over your porch, using them to fill mason jars, or adding a glowing touch to your Thanksgiving centerpiece, neutral string lights have endless applications. Plus, you can reuse them for your winter holiday decor.

Front Porch Displays

Whether you’re hosting for the fall holidays or just want to warm up your neighborhood, your front porch is a great place to flex your fall decorating ideas. Decorative hay bales, seasonal produce, and a festive fall wreath on your front door can create a cozy, welcoming feel to your home from the outside in. You can even give your front door a fresh paint job in a seasonal color of your choice.

Personalized Pumpkins

Halloween might have the rights to classic pumpkin carving, but this iconic autumn vegetable (or fruit, if you want to get technical) has plenty of post-October potential. The possibilities are endless, but here are a few ideas to get your gourd going:

• Apply decals of your house number to a large pumpkin and display it on your porch
• Fill vases and bowls with miniature pumpkins or place them along your table runner
• Get the kids involved with handprint turkeys, using a pumpkin as a canvas
• Use your favorite fall leaves to create stamps that can be applied to pumpkins
• Stack your pumpkins for a festive fall topiary display

Foraged Accents

It’s easy to get wrapped up in all the purchases the holiday season entails, but you can actually find plenty of fall accents outside for no cost at all. This is also a great outdoor activity to enjoy with your children. On your next walk or hike, keep a lookout for colorful leaves, pinecones, acorns, non-toxic berries, and even fallen branches that can be incorporated into your home decor. 

Rustic Elements

Rustic elements can make any space feel warm and cozy, which is exactly what you want for your fall decorating in 2024. Even if farmhouse chic isn’t your style, there are plenty of subtle ways to incorporate rustic elements into your home. Try burlap bows around your vases or candles, simple wood branches in your botanical arrangements, and classic patterns like plaid and gingham throughout your space.

Bonus Fall Decorating Ideas for 2024

One of the biggest perks of owning your own home is that you can decorate it however you want. So, don’t feel limited by traditional seasonal decor themes. If you’re looking for some alternative fall decorating ideas for 2024, here are a few concepts to get you started. Have fun!

• Barbiecore Fall: Go all out with pinks, purples, and sparkles. Paint your pumpkins in bright colors, or glam them up with rhinestone adhesives. You can even turn your pumpkin into a fall disco ball with mirror tiles, or mix in mini disco balls with your mini pumpkin vase fillers.
• Gothic Fall: If you wish Halloween lasted longer, this one’s for you. A classic black-and-white theme can be incorporated in endless ways, from black-and-white plaid throws to black serveware placed on a white table runner. And of course, you’ll need lots of candles.
• Beach House Fall: Missing warmer weather? Try incorporating beachy elements in your autumn decor. From conch shells as cornucopias to sea glass in your pumpkin-filled vases, fall doesn’t have to feel far from the beach.

One of the biggest perks of owning your own home is that you can decorate it however you want. So, don’t feel limited by traditional seasonal decor themes.

The post Our Favorite Fall Decorating Ideas for 2024 and Beyond appeared first on Cardinal Financial.

Home Disaster Recovery for Hurricanes Helene and Milton

On September 26 and October 9, 2024, Hurricanes Helene and Milton made landfall in the southeastern United States. Before we dive into our general disaster recovery information, you can find timely resources for ongoing hurricane recovery efforts below.

For those in need of assistance:

• Florida FEMA assistance
• North Carolina FEMA assistance
• South Carolina FEMA assistance
• Georgia FEMA assistance
• Tennessee FEMA assistance
• Virginia FEMA assistance
• Hillsborough County FL available resources
• Disaster unemployment benefits

For those looking to provide assistance:

• Donate supplies, blood, and more through ongoing drives
• Become an American Red Cross Disaster Volunteer
• Explore Asheville, NC volunteer opportunities
• Start training to become a certified Disaster Rebuild Team member through Habitat for Humanity

If you’ve been impacted by the latest hurricanes, we hope you’re staying safe and finding the aid you need to get back on your feet.

Homeowners Insurance

Your homeowner’s insurance is one of the most important tools you have when it comes to home disaster recovery. Contact your insurance provider as soon as possible to report the damage. Before making the call, take some time to review your insurance policy to understand what’s covered and any deductible you may need to pay.

When you’re ready to file a claim, give your insurance company all the necessary documentation, including photos and videos. Be as detailed as possible when explaining the damage. If your home is uninhabitable, your insurance may cover temporary housing. Ask about this when you contact your provider.

FEMA (Federal Emergency Management Agency)

If the disaster is declared a federal emergency, you may be eligible for FEMA aid. This can include grants for temporary housing, home repairs, and other expenses. On FEMA’s website, you can apply for assistance, find Red Cross shelters and FEMA Disaster Recovery Centers (DRCs) near you, and check to see if the disaster that impacted you has been declared a federal emergency. Keep in mind that you can only apply for FEMA assistance if your home was damaged during an officially declared federal emergency, and given the time it takes to apply, they are unable to provide immediate emergency services.

Local Non-Profits

If you don’t qualify for FEMA assistance or you need immediate aid while you wait for your FEMA application to process, your local non-profit organizations are a valuable resource. The exact services available to you will depend on your location, but most residential areas will have organizations of all kinds that are acutely aware of the area’s needs. If you’re not sure where to begin, you can search for non-profits in your area via GuideStar.

Local non-profits are all about helping the community, so even if the service they provide is not directly applicable to disaster relief, there’s a good chance that in the wake of a disaster, they’ll be organizing efforts to assist in whatever way they can. From cleaning supplies to temporary shelter, you may be able to find many of the things you need throughout the recovery process right in your community.

Speaking of community, much of the aid after a disaster comes not from any particular organization, but from your neighbors and your personal network. Don’t be afraid to ask people you know for help, and how you can help them in return. It takes a village.

Natural Disaster Cleanup Resources

Once you’ve contacted your insurance and received the go-ahead, you can begin cleaning up. Before you start, make sure you wear protective clothing like gloves and masks. In addition to safety gear, the following is a list of common supplies you’ll need to tackle clean-up. Many of these can be sourced through local non-profits or by starting a supply drive on social media. Amazon wish lists are also a great way to let people know exactly what you need and have it sent directly to you.

Home Disaster Recovery Cleanup Supplies

• Heavy-duty storage totes and buckets
• Wet vacuum 
• Tarps
• Generators and fuel
• Wire brushes
• Shovels
• Brooms and mops
• Crowbars
• Bleach
• Vinegar
• Flashlights and batteries

Rebuilding Resources

When it’s time to start rebuilding or repairing, it’s important to consider ways to make your home more resilient to future disasters. Talk to your contractor about using disaster-resistant materials like impact-resistant windows, reinforced roofing, or fire-resistant siding, depending on the type of disasters common in your area. If you’ve experienced flooding, consider raising electrical outlets, using water-resistant materials for walls and flooring, and installing sump pumps. Organizations like All Hands and Hearts specialize in rebuilding efforts post-disaster, and may be able to help you with repairs.

You may also qualify for an FHA 203(h) loan. This disaster relief home loan helps victims of major disasters recover by making it easier for them to obtain a mortgage or re-establish themselves as homeowners.

Natural Disaster Prep for the Future

After the dust has settled on your home disaster recovery, it’s important to start planning for the future. Disasters can happen at any time, so taking proactive steps now can save you time, money, and stress later. If you haven’t already, this is the perfect time to review your homeowner’s insurance policy. Make sure it covers the types of natural disasters that are common in your area, from floods to fires to earthquakes.

An updated home inventory is also essential for faster and more accurate insurance claims. Go room by room and document everything you own that could be covered by insurance. This can be done through photos or videos, but be sure to save the inventory somewhere that can be recovered if your personal devices or physical files are damaged, like cloud storage.

No matter where you live, having an emergency kit on hand can make all the difference during a disaster. Stock it with essentials like:

• Water (one gallon per person per day for at least three days)
• Non-perishable food
• First aid kit
• Flashlight and extra batteries
• Medications
• Important documents (stored in waterproof containers)

Home Disaster Recovery: Key Takeaways

Recovering from a natural disaster is never easy, but with the right steps and support, you can get back on your feet and rebuild stronger. As a homeowner, taking precautionary steps now can make future disasters less devastating. Take time to prepare your home, review your insurance, and create an emergency plan for your family. And when the worst happens, don’t hesitate to ask for help from all the people, organizations, and community networks at your disposal. Stay safe!

As a homeowner, taking precautionary steps now can make home disaster recovery easier in the future.

The post Your Home Disaster Recovery and Prep Guide appeared first on Cardinal Financial.

1. Keep it clean

A clean home will always be more enticing to buyers than a messy one. So, when you’re selling your home, it’s important to declutter and remove any excess furniture, family photos, and other personal items so that prospective buyers can envision their own family in your house. You want your home to look as big and as new as possible. It may also be a good idea to hire a cleaning service.

2. Stay available

You never know when a buyer may want to view your home. Ideally, you’ll have enough advance notice to prepare, but being able to accommodate a last-minute viewing could go a long way toward building goodwill with the buyer. Don’t leave dishes in the sink, keep your bathrooms clean, and make sure everything is dusted and well swept.

3. Don’t delay repairs

Anything that could deter a potential buyer from making an offer should be fixed before you start showing your home. Some repairs may seem minor, but these seemingly insignificant issues can really add up in the mind of a buyer, and in some cases, they may not see your home as worth the trouble of fixing all those little things. Don’t give them a reason not to make an offer. You can also leverage these repairs in the purchase price of your home! Making repairs builds equity, so you may be able to sell for a higher price that takes into account the value of the repairs.

Pro Tip: If you really don’t want to play handyman, you may be able to negotiate with the buyer to sell your home for a lower price, provided they take responsibility for any needed repairs.

4. Maintain a comfortable temperature

Now isn’t the time to worry about your energy bills. Make sure potential buyers are comfortable when they’re touring your home. If it’s cold outside, leave the heat on. If it’s hot, some refreshing AC will put them in a good mood as soon they walk in.

5. Keep it light (literally)

Not only do poorly-lit homes feel less inviting, but from a practical standpoint, they also make it harder for buyers to see what they’ll be paying for. Make sure you’ve got all your lights on and your blinds open to show your home at its best.

6. Keep your pets out of the way

Even if your buyers have pets, they don’t have your pets. In the spirit of making the home feel like a fresh start for buyers, keep your pets out of the way during showings if possible. For outside pets, an enclosed outside area should be fine. If your pets are strictly indoors, consider closing off an area of the home for them or leaving them with someone you trust for the day. And of course, make sure pet hair and waste are cleaned up before showing your home.

7. Be realistic about your price

Hear us out: Consider underpricing your home. Why? If you underprice your home, you’ll likely receive more offers from multiple buyers with multiple bids, even in the toughest markets. When you start fielding multiple offers, it could result in bidding up the price to well over what it’s worth. Plus, with rates being what they are in the current market, if you price your home too high you may get very few offers as most potential buyers are on a tight budget.

Bonus home-selling tip

The best home-selling tip we can give you is to stay flexible. You are, after all, selling your home to people, and people’s lives can get unpredictable. They may need to reschedule showings, negotiate on the price, or finalize the purchase later (or sooner) than you feel is ideal. Remember that you may be selling your home, but the buyer is the one who’ll be living in it for years to come. It’s normal for them to obsess over the details. And when it’s your turn to buy, we’re here to help with all of those details, too.

The best home-selling tip we can give you? Stay flexible.

The post 7 Simple Home-Selling Tips for Any Market appeared first on Cardinal Financial.

Home improvements for tax deductions to consider

Home improvements that qualify for tax deductions typically fall into one of these four categories:

• Renovations for medical conditions
• Eco-friendly home upgrades
• Home office additions
• Improvements made to sell your home

However, as with all things taxes, it’s not that simple. Which home improvements are tax deductible depends on the scale of the project, how you use the renovated space, and more detailed criteria. Plus, some states may have different tax requirements than others. With that in mind, let’s get into what you can generally expect to qualify.

Renovations for medical conditions

Accessible home modifications are often eligible for tax deductions. These include medically necessary home improvements intended to make the home livable for a person with a disability who resides in the home.

Common deductible home improvements for accessibility

• Widening doorways
• Installing stair lifts and ramps
• Installing voice-activated control systems
• Installing handrails and grab bars throughout the home
• Converting standing showers and tubs to include accessible seating

Eco-friendly home upgrades

In case helping out the planet (and lowering your utility bill) wasn’t incentive enough to go green, many home improvements for energy efficiency can help you qualify for more tax deductions. Barring very few exceptions, these deductions can only apply to your existing home, not a new home you’re constructing from the ground up. 

Common deductible home improvements for energy efficiency

• Installing ENERGY STAR-rated doors and windows
• Installing ENERGY STAR-rated appliances
• Installing solar panels
• Replacing insulation materials

Pro Tip: What does an ENERGY STAR rating actually mean? ENERGY STAR-rated products meet strict energy efficiency standards set by the US Environmental Protection Agency. Learn more here.

Home office additions

If you run a business from home, you may be able to deduct that space from your taxes. In general, your home office needs to be an exclusive part of your home that you use only for conducting business on a regular basis. Your home office should also be your principal place of business. If you spend 9-to-5 at a storefront and use your home office to catch up on overtime tasks, that home office space likely won’t qualify. 

Common deductible home improvements for your home office

• Installing new equipment needed for work (such as a new printer)
• Renovations made to your entire home that impact the office (such as new floors throughout)
• Repairs made to the office exclusively

Pro Tip: Most home office tax deductions are based on the percentage of your home’s square footage that the office occupies. So, first things first, bust out that measuring tape.

Improvements made to sell your home

If you sell your home for more than you paid for it, that’s called capital gain. And in tax world, capital gain is, you guessed it, taxable. Luckily, it’s possible to reduce the amount you’re taxed for that capital gain based on how much money you invested in the home. Even if those renovations weren’t necessarily made with a sale in mind at the time, you could still qualify. 

Common deductible home improvements for home sales

• Structural additions, like a new garage
• Landscaping installations, like a swimming pool or firepit
• Plumbing or HVAC upgrades
• New flooring

As a general rule of thumb, upgrades required to maintain the livability of your home do not qualify. For example, the cost of repairing a leak in the ceiling won’t be eligible for a deduction.

Other potential home improvements for tax deductions

If you own a rental property, home improvements generally are not deductible. However, you may be able to deduct the cost of necessary repairs to the property. Whether or not a home improvement project on a rental property is considered deductible essentially comes down to whether that repair was necessary to make the home livable (deductible) or whether it was simply enhancing the space (not deductible). Additionally, you should look into specific state or local tax deductions for home improvement projects. Depending on where you live, you may have more options than you think.

Bottom line? Homeownership can offer so much more than just a place to live. Tax deductions for home improvements are just one way to make the most of your investment.

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before making the decision to buy or refinance a home.

Not only can renovations boost your home’s value, but some projects could qualify you for more tax deductions.

The post Top Home Improvements for Tax Deductions appeared first on Cardinal Financial.

5 Easy Summer Home Improvement Ideas

• Pressure-wash exteriors
• Install screens around your back porch
• Build a tree bench
• Refinish your deck
• Build a shed

1. Pressure-wash exteriors

Over time, dirt, grime, and mildew can build up on your home’s exterior, making it look dull and dingy. Pressure washing is an easy and effective way to bring back its original shine. Here’s how to get started:

• Rent or buy a pressure washer: If you don’t own a pressure washer, you can rent one from most hardware stores. Make sure to choose the right pressure setting to avoid damaging your siding.
• Choose the right detergent: Depending on your siding material (vinyl, wood, brick, etc.), use a suitable detergent. Many pressure washers come with recommendations.
• Stay safe: Wear protective gear, including goggles and gloves. Also, be mindful of the pressure washer’s force to avoid accidents. Tempted to cool down with a quick spray? Think again.
• Master the method: Start from the top and work your way down in a smooth, sweeping motion. This prevents streaks and ensures a thorough clean.

After a good wash, your home will look almost brand new, boosting its curb appeal significantly. Plus, your exteriors will dry faster thanks to the summer sun.

2. Install screens around your back porch

Porch screens are a good investment to enjoy your back porch all year round. Not only do they provide some temperature regulation, but screened porches also reduce the amount of bugs and other pests that can invade your outdoor space. Plus, if you have indoor pets, screened porches are a great way to safely give them a taste of the outdoors. As for the screen installation, it’s simpler than you might think. This guide has everything you need to know to handle this easy outdoor DIY project.

3. Build a bench

There’s nothing like relaxing in your own yard, watching the summer sunset with a cold drink in your hands. A bench strategically placed in the shade can take your relaxation to a new level. Building a bench is fairly easy, but of course, there are plenty of ready-made options out there if you’d rather not go the DIY route. You can make your bench as simple or as complicated as you want, but some basic materials you’ll need include wood (pine is a popular choice for outdoor furniture), screws, a drill, a circular saw, and a measuring tape.

Need some bench inspo? These popular styles offer options for every DIY skill level:

• Super simple wood bench
• Bench with storage
• Arbor bench

4. Refinish your deck

A well-maintained deck is perfect for summer BBQs, gatherings, or unwinding in solitude with a good beach read. If your deck is looking a bit worse for wear, refinishing it can make a world of difference. Here’s how:

• Clean thoroughly: Remove any debris and give your deck a good scrub with a deck cleaner.
• Sand the surface: Use a power sander to smooth out any rough spots and remove old finish. This will also help the new stain adhere better.
• Apply stain: Choose a stain that suits your deck’s wood type. Apply it evenly with a brush or roller, following the grain of the wood.
• Seal the deal: Once the stain is dry, apply a sealant to protect your deck from moisture and UV rays.

Pro Tip: Don’t have a deck? Here’s how to build one: How to Build a Deck.

5. Build a shed

Building a shed is a great storage solution and summer home improvement project to consider, and potential buyers down the line are sure to appreciate the addition. Here’s a simplified outline to get you started:

• Plan and permit: Check local regulations for permits. Design your shed based on your needs and space.
• Choose your foundation: Choose between a concrete slab or a gravel base. Make sure it’s level and sturdy.
• Frame the shed: Construct the walls and roof using treated lumber. Assemble them on the ground and then raise them into place.
• Install siding and roof: Use weather-resistant materials for the siding and roofing. Ensure everything is properly sealed.
• Add doors and windows: Install your doors and windows, making sure they are weatherproofed.

Pro Tip: If you’re looking for a simple shed with minimal customizations, you can also purchase pre-built sheds at most hardware stores.

Financing your summer home improvement ideas

Did you know that your mortgage can actually help you finance your summer home improvement ideas? In addition to renovation loans like FHA 203(k), Cardinal Financial offers EasyPath Renovation. This program is designed for small-scale renovations like the projects discussed above. In a nutshell, you can combine it with a renovation loan and complete your projects through a major retailer like The Home Depot, Lowe’s, and Menards. You can find the full breakdown on EasyPath here. Happy renovating!

Home improvements aren’t just a fun way to spend the extra hours of summer daylight—they can also boost your home’s value and increase curb appeal.

The post 5 Summer Home Improvement Ideas to Try This Season appeared first on Cardinal Financial.

8 weeks before you move

If you’re going the professional mover route, it’s important to book your movers as far in advance as possible before they’re full for the summer. Booking early also means you’ll have a better chance of beating the heat with a morning move time.

• Take inventory of your stuff. What are you keeping? What are you selling/donating? What needs to be thrown out? 
• Arrange moving transportation, whether that’s a friend’s pickup truck or professional movers.
• Transfer school and vet records if needed. Getting your human and fur babies to the new place is only half the battle.

Pro Tip: If you’re booking movers, they’ll ask for a detailed inventory of your belongings to provide the most accurate estimate of your moving costs. This is also how they determine what size truck they’ll be bringing to move your stuff, so don’t lowball it. In addition to your furniture, use this guide to give your movers an estimate of how many boxes you’ll have come moving day.

6 weeks before you move

Before you buy packing supplies, think strategically about how soft items (like towels and bedding) can be packed with more fragile items to minimize how many supplies you’ll need. Plus, it’s great for the environment.

• Buy packing supplies (more than you think you’ll need).
• Remember that casserole that’s been sitting in your freezer? Time to use it or lose it.
• Measure your new space to make sure your furniture will fit. No sense lugging a dresser across state lines only to find that it won’t fit through your new doors.

4 weeks before you move

• Packing time! Make your life easier by setting aside a box of items you’ll be using up until the day of the move.
• Disassemble furniture you’re not using. Your movers will likely do this anyway, but nobody cares for your furniture like you can.
• Label your boxes. Your future self will thank you when it’s time to unpack.
• Change your address and update your billing information once USPS has processed your request.

Pro Tip: Packing early isn’t just important for saving you last-minute complications. If you have pets, seeing their home packed up gradually gives them more time to adjust to the change, rather than everything they’re familiar with disappearing overnight. You can find more helpful tips for moving with pets here.

2 weeks before you move

These next two weeks will fly by. As you get closer to moving day, it’s time to tackle all those moving tasks that fall outside of the actual moving process, like car maintenance, requesting time off from work, and more.

• Submit your workplace PTO requests for moving day (or week, moving is stressful) if needed.
• Make sure your car is ready for the trip. Even if it’s just across town, it’s one less thing to worry about on moving day.
• Confirm moving day details with your mover (or friend with a truck). Where can they park? Is it a gated community that they’ll need a code to enter? What time are they arriving? What form of payment is preferred?
• Schedule utility account transfers for your move-in day (electric, internet, gas, and water are the big four).

Week of your move

It’s almost time! In the week before your move, make sure your payment for your movers is ready to go and that your billing address has been updated on all relevant accounts.

• Refill prescriptions if you have them.
• If you have pets, update the address associated with their microchips.
• Defrost your freezer if it’s moving with you.
• Get cash to tip your movers (or buy your friends a round).
• Remember that box of items you’re still using? On the day of your move, tape it up and add it to the stack for your movers to handle.

Bonus items for your summer moving checklist

Even if you’re not doing the literal heavy lifting on moving day, the summer heat is no joke. Consider adding these items to your summer moving checklist to keep things cool.

• Stock a cooler with cold beverages so you’ll have hydration on hand while transitioning between your old fridge and your new one.
• Turn off the AC but keep a fan going while movers are coming in and out to avoid wasting energy.
• If you have pets that need to be kept in a separate area while movers are in the home, make sure that space has plenty of ventilation and cool water (and shade if it’s outdoors).
• Don’t forget to celebrate. Moving is a big deal!

Since summer is peak moving season, it’s important to book your movers as far in advance as possible before they’re full.

The post Summer Moving Checklist: How to Nail Your Warm-Weather Move appeared first on Cardinal Financial.

5 Summer Home Energy-Saving Tips

• Upgrade your window treatments
• Install a smart thermostat
• Replace air filters
• Caulk gaps around windows and doors
• Use power strips

Upgrade your window treatments

Only the good kind of shade here. During hot months, window treatments such as blinds, shades, and curtains can help reduce sun exposure in your home, keeping temperatures from spiking indoors. Reflective or light-colored window treatments are particularly effective in reflecting sunlight away. This reduces the need for air conditioning, leading to lower energy consumption and costs.

Install a smart thermostat

Smart home features are everywhere these days, and one perk of a smart thermostat is that it can sync with smart devices you already have. More importantly, smart thermostats can significantly reduce energy consumption by learning your schedule and preferences to optimize heating and cooling. They can automatically adjust the temperature when you’re not home or when you’re asleep, leading to lower energy bills. Some models also provide energy usage reports so you can monitor and manage your consumption more effectively. 

Some smart thermostats even offer advanced features like zoning, where you can set different temperatures for different rooms or areas in your home. They can also provide real-time weather updates and adjust settings accordingly.

Replace air filters

A clogged air filter can restrict airflow, forcing your HVAC system to work harder to maintain your ideal temperature. This increased strain can lead to higher energy consumption and utility bills. When you replace air filters regularly, your HVAC system operates more efficiently. Plus, replacing air filters is essential to maintaining the air quality in your home. Allergies? We don’t know them.

Caulk gaps around windows and doors

Proper insulation is important year-round, not just during the summer. Doors and windows are common sources of air leaks, where conditioned air from inside your home can escape, and outside air can enter. This exchange forces your heating and cooling systems to work harder to maintain a consistent indoor temperature. Caulking these gaps and cracks reduces the workload on your HVAC system and conserves energy.

Use power strips

Just because a device is turned off doesn’t mean it isn’t using energy. Many electronic devices and appliances continue to draw power if you leave them plugged in, even when they’re turned off. Power strips can cut off power completely to these devices when they’re not in use. It might seem like a small difference in energy consumption, but it can lead to significant savings over time.

Many power strips also come with built-in overload protection, which can help prevent electrical fires and damage to your devices. By protecting your electronics from power surges and overloads, power strips can contribute to the longevity and efficiency of your appliances. In the long run, this saves energy and reduces waste from having to purchase new devices more frequently.

Bonus summer home energy-saving tips

Some summer home energy-saving tips will yield more savings than others, but every little bit helps. If you’re looking for some additional ways to trim costs this season, here are some bonus strategies to try. 

• Wash laundry with cold water
• Save tasks like laundry and cooking for cooler hours of the day
• If you have a pool, keep it covered when not in use
• Switch to LED lightbulbs
• Keep the thermostat at 78 degrees

Don’t forget that being comfortable in your home matters just as much as your budget. If you need to turn the thermostat down a few degrees, don’t sweat it.

Reducing your home’s carbon footprint is never a bad idea, especially when it means you could save on your utility bills during the hot summer months.

The post The Best Summer Energy-Saving Tips for Your Home appeared first on Cardinal Financial.

1. Give it a good clean

The outdoor surfaces of our homes often don’t get the same amount of love as the interior when it comes to cleaning. After all, it’s inevitably just going to get dirty again. All that dust and dirt builds up though, so consider investing in a heavy-duty cleaning before listing your home. Pressure washing your driveway, siding, and porch can make a noticeable difference in your home’s appearance. Plus, it gives you a better idea of what else might need to be replaced or repaired to boost your curb appeal in other ways.

2. Repaint

You knew this one was coming. If the exterior paint on your home is looking a little worse for wear, we recommend a fresh coat of paint before you list your home. And if you don’t have the time or budget to repaint the whole exterior, consider making a statement by painting just your front door in an accent color.

3. Hang window boxes

Window boxes are long, narrow planters designed to showcase flowers or plants right below your window. You can find one that fits your style at most home and garden stores. Or, if you’re feeling crafty, gather up the supplies and build them yourself! Window boxes can add color, dimension, and charm to your home’s exterior and really dress up your outdoor space.

4. Don’t skip the landscaping

First things first, mow that lawn and prune your trees. And if the front of your house looks a little bare and boring, liven it up by planting flowers. We recommend perennials, not annuals, because perennials grow again in the spring without needing to be replanted. Annuals, on the other hand, must be replanted every year. Other factors to consider are the plant’s sunlight, shade, soil type, and water needs. It’s important to find out what kinds of plants would survive in your front yard and porch before you plant.

5. Hang potted plants and greenery

Speaking of plants, do you have a covered front porch? You could maximize that open space and hang planters from your porch ceiling. It’s a great way to improve your curb appeal and it adds dimension, drawing eyes upward. Get creative and hang planters of different colors, sizes, and shapes that reflect your home’s personality. Take the look a step further by planting draping greenery like ivy or pothos plants.

6. Give your mailbox a makeover

Paint your mailbox to match your front door. Plant flowers at the base of the mailbox post. Sand and varnish, repaint, or replace the post—the list goes on. There are countless ways to bring your mailbox to life and any one of these creative touches can make it stand out from the rest of the block. Just don’t go overboard personalizing it to the point that potential buyers couldn’t see it as their own.

7. Replace gutters and downspouts

Replacing gutters and downspouts might not be the most glamorous of updates, but it impacts your home’s curb appeal more than you might think. Even if your gutters don’t need to be fully replaced, cleaning and securing any areas that are not attached to the home properly will give your potential buyers one less thing to worry about in terms of the home’s functionality.

8. Replace hardware

From light fixtures to doorknobs to your address numbers, refreshing the finishes on your outdoor hardware can give your home an instant lift. This is also an easy DIY update that takes minimal time if you’re wondering how to boost curb appeal on short notice.

Any other tips on how to boost curb appeal?

Maybe the biggest rule of prepping your home for sale is to keep your decor choices—inside and out—neutral. Buyers should be able to envision the space with their own belongings and tastes, and that’s hard to do if your personal style is on display. When it comes to curb appeal, here are a few things to avoid:

• Lawn decorations
• Visible garbage/recycling cans
• Window decals

Sorry to your lawn gnomes, but it’s not their time to shine. For more tips on nailing your home sale or boosting curb appeal, reach out to our team anytime.

Whether you’re selling your home or you just want to put your best foot forward for your HOA, curb appeal can make a big difference in how your home is perceived.

The post How to Boost Curb Appeal in 8 Easy Steps appeared first on Cardinal Financial.