Should You Permanently Close The Vents In Your Crawl Space?
Posted by Larry Tollen on
Should you permanently close the vents in your crawl space? This is a question often debated by North Carolina homeowners, since most houses in this region are built with crawl spaces rather than basements. Homeowners most often seal their vents due to excess moisture in the crawl space, which can lead to a multitude of expensive problems (including bowing floor joists, mold and insect infestation). There are a number of important considerations here, and remediating the issue may require other steps aside from closing your vents.
During the winter months, leaving the vents open reduces the energy efficiency of your home by allowing cold air to leak in from the outside. Also, if temperatures routinely drop below freezing, pipes in the crawl space are…
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Significant new mortgage rules just went into effect on October 3rd, as part of the regulations created by the Consumer Financial Protection Bureau in 2013. These regulations are designed to provide new homeowners increased loan transparency as well as more protection against reckless lending standards and other lender abuses.
If you are planning on buying or selling a home in North Carolina, you are required to sign a disclosure statement that in theory details all known problems with the house. The disclosure statement must be on the form provided by the state. No other disclosure form is allowed.
Have you been thinking about moving up to a more luxurious home? Have you been watching the luxury home market wonder if now might be the time to buy? Let’s take a look at the luxury home market.
As an avid home gardener who among other things enjoys growing as many of the vegetables we eat as possible I can attest that my wife and I have noticed a visible decline in the number of bees we see. Several years ago we started planting a wide variety of flowering plants specifically to attract more bees to our yard so that we could attract more bees without which our vegetables wouldn’t get pollinated. Check out this excellent article about how you can be a part of the solution to help save the bees.
Many real estate contracts these days contain “as is” clauses. The term “as is” is a signal that the seller makes no warranty as to the condition of the property and intends to make no repairs to the property prior to or after closing. It also often means that the seller will give no credits against the price for needed repairs. Foreclosure sales are almost always “as is” sales, since the banks that own the homes don’t want to put any more money into the properties. While I generally don’t recommend foreclosure deals, as-is property can be a good deal at the right price point if the buyer has sufficient cash reserves and/or the ability to handle any needed repairs.
How much should you set aside for home repairs? Most experts recommend setting aside anywhere from 1% to 3% of the purchase price of your home each year to cover maintenance. Keep in mind that a home is a long-term purchase, and these annual reserve figures represent an average. Therefore, for example, if you set aside 3% of the purchase price of your home during the first year and you don’t end up using much of the money, you would be wise to continue setting aside the same amount in subsequent years. Many home repairs are expensive and can come as a nasty surprise if you haven’t prepared yourself financially. Any homeowner who has ever had to replace a roof can attest to this!
Forest Hills is a historic neighborhood in Durham, with buildings dating as far back as 1923. The Forest Hills Historic district was added to the National Register of Historic Places on December 28, 2005. Durham architect George Watts Carr (1893-1975) and his firm designed many of the early structures.
Here are six myths and urban legends about buying and selling a home. We hear these from buyers and sellers every now and then.