RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

8 Ways to Boost Your Home's Value

May 6, 2016 12:54 am

Improving the look and functionality of your home goes a long way toward boosting its value. But what types of renovation are today’s buyers looking for?

Consumer Reports reveals the most sought-after amenities:

Allowance for Aging in Place – As people are living longer and the number of senior citizens continues to increase, buyers see the long-term value of walk-in showers, comfort-height toilets and master bedrooms on the main floor.

Color and Light Matter – Fresh paint, natural color schemes and window treatments that let in the light will improve the look, as well as the value, of your home.

Energy Efficiency – Buyers are interested in energy costs and efficiency. ENERGY STAR appliances, high-efficiency windows and LED lighting help to lower the cost and increase your home’s ‘green’ appeal.

The Great Outdoors – Up your home’s curb appeal by keeping lawns and shrubbery neatly trimmed. Also high on buyers’ wish lists are a water-smart yard, a deck or patio and a built-in grill.

Kitchens Top the List – Buyers want a clean, updated and well-organized kitchen. A new coat of paint or modernized lighting can be inexpensive starts. Increasing the value exponentially are quartz counters, attractive cabinetry and stainless steel appliances.

Smart Technology – Some high-tech features may lose value as technology continues to evolve, but security systems, whole house generators and programmable thermostats controlled by smartphones will add value for their efficiency and convenience.

Updated Systems and Surfaces – Central air conditioning and updated mechanical systems, including water heaters and gas heat, can increase a home’s value by 3 to 5 percent. A newer roof and hardwood flooring are also much in demand.

Workable Floor Plans – Regardless of the size of your home, strategically increasing the living space is sure to boost its value. A more open floor plan, a finished basement or a dedicated playroom or office space appeals to the needs of young families.

Published with permission from RISMedia.


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The 4 Things Grads Should Know About Student Loans

May 6, 2016 12:54 am

If the results of a recent National Foundation for Credit Counseling® (NFCC®) poll are any indication, many college graduates are faced with stress over student loan debt repayment.

“The best way to feel more confident about keeping your student debt under control is to have a specific plan,” says Bruce McClary of the NFCC. “Part of the planning process involves learning about the debt and the options for making it work within a budget.”

To gain control over your financial future and stay on track repaying educational loans, the NFCC recommends the following tips.

1. Track Grace Periods – Different loans have different grace periods. A grace period is how long you can wait after leaving school before you have to make your first payment. It is six months for federal Stafford loans, but nine months for federal Perkins loans. For federal PLUS loans, it depends on when they were issued. The grace periods for private student loans vary, so consult your paperwork or contact your lender to find out. Don’t miss your first payment!

2. Understand Your Loans – Use whatever time you have during your grace period to get to know the types of loans you have, keeping track of the lender, balance and repayment status for each one. Every detail is important, because it can play a role in determining how each loan is repaid and what options might be available if you are ever at risk of falling behind. Start by visiting www.nslds.ed.gov to identify the details about the loan amounts, lender(s), and repayment status for all federal loans. If some loans aren’t listed, they’re probably private (non-federal) loans. For those, try to find a recent billing statement and/or the original paperwork. The school may be able to help if those records aren’t handy.

3. Plan for Repayment – When your federal loans are due, your payments will automatically be based on a standard 10-year repayment plan. If the standard payment is going to be hard for you to cover, there are other options, and you might be able to change plans down the line if you want or need to. Extending your repayment period beyond 10 years can lower your monthly payments, but you’ll end up paying more interest – often a lot more – over the life of the loan.

Some important options for student loan borrowers are income-driven repayment plans such as Income-Based Repayment and Pay As You Earn, which cap your monthly payments at a reasonable percentage of your income each year, and forgive any debt remaining after no more than 25 years (depending on the plan) of affordable payments. Forgiveness may be available after just 10 years of these payments for borrowers in the public and nonprofit sectors. To find out more about Income-Based Repayment and related programs and how they might work for you, visit www.IBRinfo.org.

4. Stay Out of Trouble – Ignoring your student loans has serious consequences that can last a lifetime. Not paying can lead to delinquency and default. For federal loans, default kicks in after nine months of non-payment. When you default, your total loan balance becomes due, your credit score is ruined, the total amount you owe increases dramatically, and the government can garnish your wages and seize your tax refunds if you default on a federal loan. For private loans, default can happen much more quickly and can put anyone who co-signed for your loan at risk as well. Talk to your lender right away if you’re in danger of default.

Source: NFCC

Published with permission from RISMedia.


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