Evaluate Your House for Basement Finishing

Some unfinished basements are better basement finishing candidates than others. Here's how to evaluate your space for a basement finishing.

Basement finishing is a great way to add that extra bedroom or playroom you've always wanted, if you have the money and space.

Basement remodel cost

When it comes to basement finishing, not all unfinished space is created equal. Consequently, the per-square-foot price of basement finishing starts at $100/sq. ft. and can climb higher depending on how much or how little remodeling you must do.

Granted, you won't have to dig and lay a foundation or frame and insulate exterior walls--that's already done.

Depending on your circumstances, here's what you'll need to know:

Building to code

The International Residential Code (IRC) says a basement living space must have a clear, floor-to-ceiling height of at least 7 feet (6 feet for bathrooms). Local codes for basement finishing may vary, and exceptions are made for the presence of exposed structural beams, girders, or mechanical system components along the ceiling, but only if they're spaced at least 4 feet apart and extend no more than 6 inches from the ceiling.

If your existing basement ceiling height doesn't meet those specifications, you have two options, and neither is cheap:

            •Raise your house and build up the foundation around it to gain the ceiling height you need.

            •Lower the floor, which entails removing the existing concrete slab floor, excavating to the desired level, and pouring new concrete footings and a floor slab.

Both options during basement finishing require professional and precise engineering, excavation, and structural work that will cost at least $20,000.

Add a staircase

The IRC also governs the staircase that leads from your home's main level to the basement remodel. Requirements include a handrail and stairs with proper width, tread, and riser dimensions. There must be at least 6 ft. 8 inches of headroom at every point along the staircase.

If the stairway isn't wide enough (at least 36 inches) or the steps aren't to code, you may have to rebuild them during basement finishing, an extra cost of about $2,000.

Condition the space

Heating and cooling your basement finishing can be as simple as tapping into existing HVAC main trunks and adding a couple of vents ($1,000) or as complicated as upgrading your entire heating and cooling systems ($7,000 to $15,000).

Your contractor will have to "size" your existing system to make sure it can handle the additional load and will comply with building codes that consider health and safety, such as adequate venting of furnace combustion gasses.

Cure moisture problems

You'll have to fix moisture problems before basement finishing begins. You may have to waterproof walls and floors, grade the yard so water falls away from the foundation, install a sump pump, or install drains around the foundation, all or any of which can add thousands in costs.

Add emergency egress

Code dictates that basement finishing have at least one door or window big enough for people to get out and for help to get in during an emergency: If you're including a bedroom, it must have its own point of egress. Each egress opening must be at least 5.7 sq. ft. with the windowsill no more than 44 inches above the floor.

Most basement walls are built using poured concrete or masonry blocks, which can be cut (although not as easily as wood-framed walls) to create openings for egress windows or doors.

Article From HouseLogic.com | By: Rich Binsacca

Guide to Title Insurance for your Real Estate

When you buy real estate, the title company will search the public land records to make sure the seller is the legal owner of the property. If the title company finds a problem like an incorrect deed or a lien on the property, it can be fixed before closing. Most people don’t run into title problems after they buy a home, but it does happen. This is why you should have title insurance.

1.    Types of Title Insurance. Title insurance falls into one of two categories: lender’s title insurance and owner’s title insurance. If you get a loan to buy your real estate, your lender will require a lender’s policy based on the amount of your loan. An owner’s policy is purchased at closing and lasts as long as you hold an interest in the property.

2.    What it covers. A basic title insurance policy protects you from any problems with a title that were not found during the title search. Human error can lead to mistakes on public records and forged deeds. This can and does happen. Names and legal descriptions are recorded incorrectly, back taxes may be owed, and people die without wills specifying their heirs.

3.    How it helps you. Say, for example, that you buy a home with a utility easement in the backyard, and the title company did not disclose this. You may not be able to add on to your home or build a swimming pool in your yard because of this easement. This devalues your property, and the title company will have to correct this situation for you. In this case, your title insurance will cover the claim and protect your investment.

 

Source: www.realtyblogcontent.com | 02/18/14

How to Protect Your Home From Severe Cold

The right tools and pre-winter maintenance will ensure that your home and your family are safe from cold-weather threats.

Homeowners in cold-weather climates, such as the Northeast, Midwest, and mountain areas, face icy conditions, blizzards, and other cold-weather storms. Beyond requiring a quick trip to the convenience store for milk and bread, snow, ice, freezing rain, and extreme cold can threaten your home's structure and your safety. Therefore, it's important to take measures and invest in the resources you'll need to deal effectively with winter's challenges before it gets into full swing.

Understand the Threats

Blizzards: Storms with heavy winds and large amounts of snow accumulation can cause roof or other structural damage and leave you isolated.

Ice storms and ice dams: Ice storms coat structures, trees, power lines, cars, roads-and virtually everything else-with ice. As the ice melts, large chunks can fall and cause injury to anyone below. When ice melts during the day and then re-freezes at night, ice dams, which block water from flowing in the gutter, may form. This condition can force water back under the roof line and cause leaks.

Sleet or freezing rain: Combinations of snow and freezing rain may cause slippery conditions and coat roads, sidewalks, and driveways with ice when temperatures drop.

Protect Yourself

The Federal Emergency Management Agency recommends that home owners have shovels on hand, as well as melting agents, such as rock salt. Some of the new, more environmentally friendly de-icers include calcium magnesium acetate and sand to improve traction. Be sure to stock up early in the season, as these agents tend to be in short supply during periods before a well-publicized storm.

FEMA also advises you have enough fuel to maintain heat in your home, as well as a backup heating source: firewood if the home has a working fireplace, or a generator to power heaters in case of power failure. However, use caution as these can represent fire hazards when not used correctly. Be sure to follow directions explicitly and keep a fire extinguisher. Some generators and fireplaces also require proper ventilation, according to the Institute for Business and Home Safety, so follow directions carefully and keep them away from curtains or other flammable items.

Stock up on extra blankets, warm clothing, and enough food and water to sustain your family in case of a few days of isolation. And a transistor radio with fresh batteries can help keep you updated on news and information in case of a power outage.

Protect Your Home

Before winter, there are some precautions you can take to protect your home from the ravages of cold weather storms:

Winterize your home. Check shutters, siding and other exterior materials to ensure they're secure, says retired contractor and home improvement expert and writer John Wilder of Jacksonville, Fla. High winds, ice, and moisture from winter storms can easily strip off such outside elements if they're loose.

Be sure that gutters are clear of debris and that walkways are even and don't represent tripping hazards that can be exacerbated with snow or ice. Caulk drafty windows and apply weather stripping to doors-both inexpensive strategies that can keep heat in your home. Air sealing can help you save about $350 in energy costs or one-third of your average annual heating and cooling costs. The average annual home energy bill is about $2,200, according to Energy Star, of which about $1,000 represents heating and cooling. An assortment of air sealing materials and tools, including silicone foam, caulk, aluminum flashing for flues, and additional insulation, will run roughly $100-$350.

Winterize pipes. Be sure your pipes, especially those exposed or in unheated areas like crawl spaces, are wrapped in insulation to prevent freezing and bursting. Also, learn where your water shut-off valves are so you can turn off the water supply in case of a leak. Six feet of insulation can cost anywhere from $7-$17; it's available at most home improvement stores.

 Trim tree branches. Branches that overhang roofs or areas where you park your car -- or which are simply overgrown -- represent a risk to structures, vehicles, and people. Keep trees trimmed and remove those that are weak or sickly to prevent them from falling on or near your home. Tree trimming and removal pricing varies greatly, and you may have additional restrictions if you live in an historic community or if the trees are close to power lines.

Check with your municipality about any regulations and contact your local Chamber of Commerce, municipal offices, or contractor rating sites like MerchantCircle.com or AngiesList.com to get the names of reputable pros. Tree trimming and removal can be dangerous, so don't attempt it on your own unless you're experienced.

By keeping your home in good repair and stocking up on the supplies you'll need before the rush for rock salt and shovels begins, you'll be as ready as possible to tough out the storm.

Article From HouseLogic.com | By: Gwen Moran

3 Questions To Ask Before Buying A Real Estate Short Sale

When the real estate market starts to decline, everyone starts talking about short sales. A short sale happens when the bank is willing to accept less than what the sellers owe on their real estate. This means you may find a great deal on your next home. However, short sales aren’t right for everyone. Before you decide to buy a short sale, you need to ask yourself some important questions.

1.    Can you afford to buy the property as-is? You can and should have an inspection done before you buy real estate. However, with a short sale, the seller is most likely not going to be able to make any repairs before they sell the property. After all, they’re selling it because they don’t have the money to make the payments. Make sure you’re able to afford any repairs the property will need.

2.    Is it really a good deal? You need to pay attention to the home’s value. How does the price compare with what other homes are selling for? Paying $175,000 for a home when other homes are selling for $130,000 means you’re really not getting a good deal. Just because the home is a short sale doesn’t mean it’s worth your time and money.

3.    Are you prepared to deal with the bank? The bank’s only concern is getting their money from the home sale. To ensure this happens, the bank will require extra paperwork. They will even take their time negotiating if the seller has more than one mortgage. It doesn’t matter to them how long you have to wait. If you don’t have time to wait for the bank to approve the short sale, you probably should look for a different home.

Right now is a great time to buy a home, whether it’s a short sale or not. Let me help you find the real estate that best fits your budget and needs.

RealtyBlogContent.com | Published: 01/28/14