Is it normal for a house to not have any insulation inside the interior walls, excluding the perimeter walls, or did I just get screwed over on the 1965 house I bought?
Insulation is great for slowing heat movement from hot to cold. No so good at sound proofing.Heat goes sideways, down and up. So you want some insulation in your exterior walls. You also want more in your attic. If you have a ventilated attic, the insulation should be on the ceiling plane. If you have a sealed attic, the insulation should be on the roof deck.The questions about adding insulation revolve around cost and type of material.Walls are relatively expensive to insulate in existing homes. Attics are relatively inexpensive. The difference is labor cost.Check the Federal DOE Website to find out the Climate Zone you are located in. Then you can determine the recommended amount of insulation for the basement walls, the above ground walls, and the attic.How much insulation is based on R=Value. The ability of the material to Resist Heat transfer through it. It does not stop the movement of heat, it does resist it. R-Value of insulation is usually specified as X/inch. To compare apples to apples, you must compare the same R-Values.Fibrous Insulation types in the US are RockWool, Fiberglass, and Cellulose. These are great insulation types if the air sealing is done properly with the insulation.I inspect existing homes and certify Energy Star New Homes, I have learned it is less about the products and mostly about the training of the installation crews. Insulation must be installed correctly to perform as claimed.There are also rigid foam board insulation types and 2 part spray foam types.If you talk to a sales person or contractor you will hear about how good their products are, and the problems with the other types. Forget the sales pitch when they talk down the product they don’t have on their shelf.All insulation performs as claimed, when installed according to manufacturers instructions and to achieve the same R-Value. You can read about the Thermal Metric Studies for more information.
Where to start renovating house?
My parents have inherited my grandfather's house, and are considering renovating it and moving in. The house itself is in good structural condition (1930s build) but would need re-wiring, a new kitchen and bathroom, plumbing, windows etc. With that in mind, the whole thing is likely to be expensive. The bathroom is in good enough condition to live with (just), but house would need new kitchen and plumbing before my parents would consider moving in and for work to begin on other refurbishments. The idea is to do minimum before moving in and to sell their current house to fund any major work. My question to any builders/property developers - apart from new kitchen, what big jobs should they attempt to tackle first before moving in? Re-wiring/plastering etc? Things like new windows and decorating can obviously be done at a later stage. Any idea of how much they should budget??
Is it worth the cost to consult an architect about internal alterations?
We have recently bought and moved into a property where we want to make some internal alterations, such as converting an integral garage into a kitchen and making the existing kitchen into a utility room, ground floor cloakroom and dining room. We really aren't sure about the best way to divide up the space and where to position everything, so who would be the best person to consult about this; would it be an architect or a builder or someone else? I have heard that architects fees are quite high, so would you say it is worth the money?
How do home renovation loans work?
Planning for home renovation? Well, it is a matter of huge expense. Now, a little difference in the expense is still possible to witness, but only depending upon your space and utilization of quality products. Home renovation is also matter of time and research. You can’t go on and hire anybody for the job. First, you have to determine your space and types of changes you want; second, you have to outline your budget and then match the expense according to your renovation needs. The more you research, the easier it gets for you to hold onto any one renovation idea as well as budget. Once your budget is decided, you can contact any property mortgage broker, who can help you meet property investors in your locality, who further will fund your expense, mortgaging any of your assets, like jewelleries, cars or the documents of any of your old, existing property. This is how, home renovation loans work. Now, let me recommend you one best home renovations Cairns service provider – Paulene Benko Interior Designs. If they are the ones you hire, you might also not go for any loan.
Can I use capital gains to renovate a home and still be exempt from capital gains taxes?
There is a way, though not free. Ask your accountant about the ramifications of using a margin loan to pay for renovations. The idea is you borrow against the value of your stocks, typically up to 50% of their value. You can use this cash for anything. Since the loan is secured by your stocks, the interest rate is typically quite low. You are not selling your stock, so no capital gains tax is due. And, to top it all off, when you pay back the loan, the interest you pay on that loan is tax deductible. It is a win-win-win situation.The downside is if your stocks go down too much, your broker could demand more cash from you, or force you to sell your stocks, what is called a “margin call.” Also, if you delay paying back, the amount you pay in interest, even if at a low rate, can add up to more than the capital gains tax you would have paid if you had sold and realized the gain. You can do the math to see if it makes sense for you.
When renovating a house what order should I do things?
This is a complicated question, but you asked it with out detail. What are you renovating, inside, outside, adding on, basement finishing, garage finishing, attic spaces, Kitchen, Bedroom, bathroom? Where is your renovation geographically, and in relation to the rest of the house, the property it sits on and access to the property? When do you need to get this done, will it be cold, hot, rainy, dusty? In my world of construction if I were building a house or adding on to one, I start with plans, and a permit. Then surveying and staking, excavation, foundation/under ground plumbing - waste and supply, slab and trusses, waterproofing, backfill, framing, roofing, windows and exterior doors, rough-in mechanicals - plumbing, HVAC, electrical, low voltage wiring. Exterior siding and finishes can begin while mechanicals are being done, just make sure you know where vents, hose bibbs and lights are going to go. Insulation and then drywall. Then paint, trim and flooring, cabinets, interior doors, and fixtures. This is a general list, but each project is slightly different, so this list can get you an idea of a big remodel, but if you are only remodeling a closet this list is pretty useless.
What does "gut renovated" mean in the context of NYC real estate?
“Gut renovated” in NYC real estate means that a space has been stripped down to its bare bones and completely renovated from the ground up. This means that everything in the space down to the raw framing has been replaced, including: pipes and plumbing, electric, walls, floors, appliances and everything in-between.If a space has been partially renovated (such as receiving a new floor, countertop or appliances), it is considered to be “updated” as opposed to “gut renovated.” Often times sellers in NYC will market their apartment or brownstone as being gut renovated when in fact it has only been selectively updated.As a buyer in NYC, there is a wide variation in the quality of renovations you will encounter when searching for a new home. Some homes will be marketed as “gut renovated” when in fact no upgrades were made to the costly infrastructure of a home – roof, heating system, etc. Other apartments may be gut renovated using inexpensive and unreliable materials.If you are looking for a gut-renovated home in NYC, it’s a good idea to look for sponsor units from developers who have a proven track record of delivering high quality properties.P.S. Gut-renovated units typically command a substantial price premium compared to updated and un-renovated apartments. You can save money on your purchase and reduce your closing costs by requesting a Hauseit Buyer Closing Credit.…Ask us anything in Hauseit’s Forum, where New Yorkers come together to discuss the toughest questions in real estate.
Real estate abbreviation?
In real estate what does the abbreviation o/p stand for? Im looking at details of a house im interested in and the saleing price is 104000 and on the bottom it says o/p 104000
What are home improvement loans?
A home improvement loan is offered for renovating or remodelling a house. You can avail it for remodelling, painting, internal and external repairs, or even bigger construction work such as adding a floor.The eligibility criteriaWhile there may be variations from bank to bank, here are some basic eligibility guidelines.You can apply as an individual or jointly with the other owners of the house being the co-applicants.Both salaried and self-employed individuals can apply for a home improvement loan.The minimum age limit is 21 years of age. The maximum age is restricted to your retirement age.The documents you needLike any other loan, the process of availing a home improvement loan will be much smoother if all the documents are in place. We have curated a list of documents that you must organise in a folder along with the photocopies.Are there any tax benefits?Yes.Under Section 24(b) of the Income Tax Act, you can avail deductions of up to Rs 30,000 per annum for the interest paid. Both the owner and co-owners are eligible for tax deductions.How to select the best lender?We suggest choosing the same lender where you have an existing home loan (if any) for a smoother process. This is the faster way of getting a loan approved as the bank already has your documents.However, in such a case, your property would act as collateral for this loan.Opting for the same lender also comes with more benefits in terms of funds. Let’s take HDFC, for example. An existing HDFC customer availing a home improvement loan of up to Rs 30 Lakh will get 100% of the improvement estimate. However, for a new customer availing the same amount, about 90% of the improvement estimate will be released.The finer detailsAs with a regular home loan, the maximum tenure for a home improvement loan is 15 years. At present, the average interest rate is in the range of 9.5-10.5%, depending on the lender, loan amount, and eligibility.The processing fee for these loans generally ranges between 0.5% and 1% of the loan amount.