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Find Ease, Restfulness With PPG Brand’s 2020 Color of the Year: Chinese Porcelain

Blend of cobalt, moody ink blue offers escapism in today’s data-driven society

CRANBERRY TOWNSHIP, Pa., June 10, 2019 – In a world where sleep is viewed as a luxury and the anxiety of a fast-paced life is all too real, it is only fitting that PPG paint brand’s 2020 Color of the Year, Chinese Porcelain (PPG1160-6), offers escapism in today’s technologically driven society. Hand-selected by PPG’s global color experts, the shade is a blend of cobalt and moody ink blue that imparts calmness and restful sleep while also offering the spirit of hopefulness – a commodity in a restless world.

 

PPG Chinese Porcelain Tag PPG Chinese Porcelain Color Dollop

“The faster technology moves and the more convenience it offers, the more we seek activities, experiences and lifestyles that impart slowness and realness into our lives,” said Dee Schlotter, senior color manager, PPG paint brand. “The need for simplicity and escapism from technology is, in part, the reason that consumers are craving blues like Chinese Porcelain that bring us closer to natural elements such as the sea and sky – creating serenity in any space.”

The increasing need for connection in an unmoored world was a reoccurring theme at the recent PPG Global Color Workshop. This annual event brings together more than 20 PPG global color stylists from the automotive, consumer electronics, aerospace and home paint and stain industries. Over the course of several days, the stylists analyze the runway, lifestyles, demographics, geographies, and global and cross-cultural societal inspirations to determine what colors will resonate and represent the PPG global color forecast, including the PPG Color of the Year.

“As we look to 2020, we know that color is the trend,” said Schlotter. “Consumers are tiring of stark grays and are looking to infuse colors that delight the senses. Blue is the easiest possible entry point from the world of neutrals to the world of color, and PPG’s Chinese Porcelain delivers the energy and brightness of cobalt blue – a trending hue taking the automotive, consumer electronics and fashion industry by storm. It also incorporates a deep, muted navy tone that is popular in residential and hospitality design.”

According to recent data released by Paintzen, a PPG-owned technology platform that allows customers to pick colors and schedule painting services, blue is the most explored color family by its users, with 34 percent higher engagement than neutrals – the next most popular color family on the site. Of the blue hues, Chinese Porcelain was the most engaged color on the platform over the past six months.

Chinese Porcelain is a rich and traditional hue that provides the perfect, agreeable backdrop for vivacious colors to pop. It also can act as a feature color in a bedroom with crisp white bedding and crown molding to provide a sharp contrast. In the living room space, the hue can be layered with additional blues in tufted and velvet furniture or paired with trending metallic finishes like Hushed Copper (MTL141) from the PPG METALLIC TONESTM collection.

Schlotter recommends pairing Chinese Porcelain with décor such as lush drapes or velvet pillows in warm saffron and turmeric tones. The hue also pairs well with leather accents and dusty sand tones for an attention-grabbing look.

While Chinese Porcelain is recognized as the PPG 2020 Color of the Year, it is also the focal point for the broader PPG 2020 Global Color Trends Forecast. This forecast provides direction and inspiration to architects, designers and homeowners across the hotel, retail and residential markets. PPG’s customers in all business sectors rely on the forecast for new products and color specifications in the architectural, aerospace, automotive and consumer electronic industries.

The colors are brought to life through the following three trend stories, each nestled within the overarching theme of Flow.

On the Move: This upbeat and playful color palette addresses consumers who are looking to remake, reuse and merge cultural influences from different eras, creating a fresh aesthetic that feels simultaneously retro and contemporary. Mismatched hues like PPG paint brand’s Brilliant Blue, Turner’s Yellow and Bleeding Heart deliver joyful color combinations that encourage self- expression from the bold and confident consumer.

At the Core: Taking cues from Mother Nature, this color collection is earthy, botanical and sustainable, resonating with consumers who are looking for a state of balance between long- lasting and purposeful living. These colors evoke comfort and nostalgia, particularly the muted mid-tones. Bright hues such as PPG paint brand’s Crushed Pineapple and Carrot Cake feel rich when contrasted with Comfort, Life Lesson, Cool Concrete and Kangaroo Paw, which double as tinted neutrals.

In the Know: With an emphasis on knowledge, reflection and innovation, this theme represents consumers who are eager to change society while contributing to a future that is better than the past. The palette acknowledges the convergence of technology and earthliness by featuring raw, natural hues like PPG paint brand’s Cinnamon Spice and Brown Clay, as well as organic, oxidized blue-greens like Celestial Blue and Summer Breeze.

PPG brand paints are available at PPG PAINTSTM stores, independent retailers and THE HOME DEPOT® locations across the U.S. To find Chinese Porcelain at the store nearest you, visit www.ppgpaints.com. Customers can also choose Chinese Porcelain when booking their next paint job at www.paintzen.com.

For images and more information on the PPG brand’s 2020 color trends, visit: https://news.ppg.com/2020colortrends.

PPG’s architectural coatings business in the U.S. and Canada is an industry leader in residential and commercial coatings, delivering the latest technologies and operational advancements through its strong portfolio of brands. It manufactures and sells interior and exterior paints, stains, caulks, repair products, adhesives and sealants for homeowners and professionals. Its distribution network includes more than 15,000 touchpoints through company-owned stores, independent dealer locations and major home improvement centers across the U.S. and Canada. For more information, visit www.ppgpaints.com.

PPG: WE PROTECT AND BEAUTIFY THE WORLD™

Find ease, restfulness with PPG brand’s 2020 Color of the Year: Chinese Porcelain – 3

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $15.4 billion in 2018. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

 

Written By PPG

Source: https://realtytimes.com/real-industry-news-articles/item/1028638-find-ease-restfulness-with-ppg-brands-2020-color-of-the-year-chinese-procelain?rtmpage=

June 10, 2019   No Comments

5 Minor Home Upgrades for a Limited Budget

minor home upgrades

By Brentnie Daggett

If only your budget were as expansive as your imagination. We’ve all spent time daydreaming about how we would improve our homes if we had the time and money for a complete renovation. Grand kitchens, laundry rooms, in-ground swimming pools and walk-in closets top the dream home wish list for many.

If you don’t have the budget, time, or energy to remodel your home, there are many small projects you can take on that will improve the look and function of your home without breaking the bank. If and when it comes time to sell, these minor upgrades can also add value to your property, potentially maximizing your return:

New Cabinet Hardware

You might not be ready to tackle an entire kitchen remodel, but swapping out the hardware on your cabinets and drawers is an inexpensive cosmetic change that will update the look of your space immediately. Old, outdated hardware can make the home’s age more obvious. Look for a sleek and modern alternative that suits your taste and will be appealing even after the latest trend has passed.

If you’re looking for something unique, hardware these days comes in a variety of materials, including leather pulls, acrylic and metal combinations, stone, and more. As long as you keep it tasteful, new cabinet hardware is a cheap investment with a high return.

Updated Faucets

Faucets are one of the fixtures that quickly show their age, yet we tend to forget that they’re fairly easy to replace. Over time, faucets become dull and tarnished from constant use. Brighten up your bathroom or kitchen with an attractive, modern upgrade.

Figure out the configuration and mounting type of your current faucet to ensure you choose the right option. The existing holes in your sink, the material and thickness of your countertop, and your budget will all play a role in selecting new fixtures. Take a trip to your local hardware store and find a model that will work for you while still playing nicely with the style of your kitchen or bathroom. If you’re replacing multiple fixtures throughout the home, look into ordering them in bulk online. There are instructions on how to complete the installation yourself if you don’t want to hire help.

Modern Light Fixtures

One of the easiest ways to update the feel of a room is by replacing the light fixtures. This quick fix can add color and intrigue to any space and can update the lighting of the entire room depending on which fixture and light bulb you choose.

You can replace many ceiling-mount light fixtures without the need for rewiring, which means you’ll be done with this project in less than an hour. Browse online or in your local home decor store for modern fixtures that agree with the look and feel of your home. Once you have your supplies, unscrew the old fixtures and replace them.

A Fresh Coat of Paint

A simple coat of paint can upgrade countless areas throughout your home—walls, cabinets, doors, trim, etc. Even if you aren’t changing the color of the paint, a fresh coat can brighten things up and erase any wear and tear that may have occurred over time. Painting projects can be adjusted to fit any budget, as you can tackle them yourself or hire professionals.

Of course, there are a few tricks to ensuring a good paint job. You don’t want your DIY project to leave you in a worse position than when you started. For whichever surface you’re painting, be sure to research best practices in order to make it look professional.

Low-Cost Flooring

Flooring has one of the widest pricing ranges in home improvement projects due to the variety of options. Maybe you don’t have the budget to redo the flooring throughout your entire house, but even minimal updates can have a dramatic impact on your home and its resale value.

Consider replacing particularly damaged or worn areas such as the kitchen, bathroom, mudroom or laundry room with laminate flooring options. There are many options in terms of style, from tile to hardwood. This material is durable to most wear and tear and relatively simple to install.

No matter the size of the project you decide to undertake, make sure to educate yourself completely on each step of the process, take your time and plan ahead. The old adage “measure twice, cut once” is a good rule of thumb. Maybe tackle a smaller project first and then move onto a larger task. You’ll feel a sense of accomplishment every time you walk into your home.

 

Written By Brentnie Daggett

Source: http://blog.rismedia.com/2019/minor-home-upgrades-limited-budget/?utm_source=newsletter&utm_medium=email#close

June 6, 2019   No Comments

4 Reasons to Buy A Home This Summer

4 Reasons to Buy A Home This Summer

Here are four reasons to consider buying today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 3.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year.

Home values will continue to appreciate. Waiting may no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage have started to level off around 4.3%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

Some renters have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Examine the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, greater safety for your family, or you just want to have control over renovations, now could be the time to buy.

Bottom Line

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

 

Written By KCM Crew

Source:https://www.keepingcurrentmatters.com/2019/06/03/4-reasons-to-buy-a-home-this-summer/

June 4, 2019   No Comments

To-Dos: Your June Home Checklist

Summer officially begins June 21 this year, but why wait until then to get into the summer spirit? Get a jump-start by prepping your home and garden for warm weather, setting up the perfect drip-dry spot for beach towels, reorganizing the kitchen (hello, smoothie bar) and more. These 21 to-dos cover all the bases, so you can enjoy the season to the fullest.

19. Clean gutters and downspouts. If you did not get your gutters cleaned in spring, be sure to get this essential task checked off your list as soon as possible. Leaf- and debris-clogged gutters can lead to leaks and siding damage with summer storms.

Learn how to clean your gutters

20. Schedule major outdoor projects. Whether you are dreaming of a new patio or need to replace a deck, don’t delay booking a landscape architect or contractor for your projects. Their schedules tend to fill up quickly in the summer.

21. Catch up on projects and maintenance. No one is perfect, and chances are there are a few home-maintenance projects you’ve been meaning tackle. Why not make June the month to get caught up?

Written By Laura Gaskill
Source: https://www.houzz.com/magazine/to-dos-your-june-home-checklist-stsetivw-vs~64799711

June 4, 2019   No Comments

What is Really Happening with Home Prices?

What is Really Happening with Home Prices?

Home values have softened over the last twelve months. We are no longer seeing 6-7% annual appreciation levels for the national housing market. The current numbers are closer to 4%. Some have suggested that year-over-year appreciation levels could fall to 3% or less this year.

However, a stronger-than-expected economy and a good spring housing market have changed some opinions. Some analysts are now predicting that home value appreciation may begin to increase as we move forward.

Here are three examples:

Mark Fleming, Chief Economist of First American

“Data on the movement of unadjusted house prices during the early spring home-buying season won’t be available for a few more months, but it’s quite likely that price appreciation will accelerate again.”

CoreLogic’s April “Home Price Insights

“Home prices nationwide, including distressed sales, increased year over year by 3.7% in March 2019 compared with March 2018…The CoreLogic HPI Forecast indicates that home prices will increase by 4.8% on a year-over-year basis from March 2019 to March 2020.”

Pulsenomics’ Quarterly “Home Price Expectation Survey”

  • The 2018 4th Quarter survey called for 3.8% appreciation for 2019.
  • The 2019 1st Quarter survey raised the appreciation projection for this year to 4.3%.

Bottom Line

Price appreciation has slowed over the past year. However, a strong economy and a good housing market have many experts thinking that home values might re-accelerate moderately throughout the rest of this year.

 

Written by KCM Crew

Source: https://www.keepingcurrentmatters.com/2019/05/16/what-is-really-happening-with-home-prices/

May 16, 2019   No Comments

What Would Make You Sell Your House?

What Would Make You Sell Your House?

There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Report from the National Association of Realtors asked recent home sellers to share their reason for moving.

The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). Relocating for a job was the top reason for those ages 54 to 63 and the second most popular response for those under 53. The chart below shows the breakdown for these two reasons.

What Would Make You Sell Your House? | Keeping Current Matters

For homeowners over the age of 64, wanting to be closer to friends and family served as the top motivator to move. Downsizing to a smaller home or moving due to retirement came in as a close second and third.

What Would Make You Sell Your House? | Keeping Current Matters

Have you outgrown your current house? Are you a homeowner who can relate to wanting to be closer to family and friends? Is your house becoming a burden to clean now that the kids have moved out?

Bottom Line

Contact a local real estate professional who can help set you on the path to selling your current house and finding the home that fits your needs, today!

 

Written By KCM Crew

Source: https://www.keepingcurrentmatters.com/2019/04/30/what-would-make-you-sell-your-house/

May 10, 2019   No Comments

6 Ways to Update the Look of Your Bathroom Without Doing a Full Reno

The average cost of a midrange bathroom renovation is more than $20,000. If you kick that up to the “upscale” level, it’s almost $65,000. Yikes! Luckily, there are lots of little changes you can make in the bathroom to make it feel new again—or at least less old. They range in price from the cost of a family outing to the movies (with popcorn), to the cost of a couple of airline tickets to Hawaii (during a really good sale).

Go frameless

It’s not cheap to convert an outdated shower to something more updated. Frameless glass will give you the sleek look you want, but be prepared to spend a good thousand bucks for the glass and the installation.

But add frames here

Frames around your mirrors give the space a more finished look. Companies like Mirrormate offer a custom solution that allows you to choose from tons of finishes and have the frame made to the size of your mirror. Of course, you could save a bunch of money by doing it yourself with some molding and a miter saw.

Paint it

You can completely change the look of your bathroom by slathering a fresh coat of paint over tired cabinets. Brush on a couple of coats of white paint over that chipped and dingy dark wood (but be sure to fill in those chips first!) and you’ll be amazed at how great your space can look.

Add some jewelry

Cabinet hardware can take boring, old cabinets and give them a little sparkle. Don’t be afraid to go bold or do something a little different. When you go to sell your home, you can always change them out for something more neutral for minimal cost and in a matter of minutes. This template will make installation easy.

Change out the faucets

You don’t have to get a whole new vanity to give you space a newish feel. Swapping out old faucets for something a little fancier will give the bathroom a lift. Do yourself a favor and take a picture, and measurements, of the existing faucet to take with you when you go shopping. Ask a salesperson to help you match the size and configuration so you don’t have to create any new holes in your bathroom countertop during installation.

Get new lighting

Builder grade is builder blah. For as little as about $100 (less if you catch a great sale!), you could replace your boring light fixture with something that’s really illuminating. It’s not a top-to-toe reno, but little details like this are sure to make you smile.

 

Written by Jaymi Naciri

Source: https://realtytimes.com/consumeradvice/homeownersadvice/item/1026645-6-ways-to-update-the-look-of-your-bathroom-without-doing-a-full-reno?rtmpage=

April 9, 2019   No Comments

15 Ideas for Home Projects on a Budget

Here’s a list of simple projects you can tackle to improve the look (and value) of your home.

Projects Under $100

1. Rearrange Furniture. Pull furniture away from the walls and position it at new, more inviting angles. You’ll change the look and dimension of your room.

2. Paint Walls. Choose one wall to paint in an accent color. Select a hue that’s already a part of the décor, one that complements and highlights your pieces.

3. Get Plenty of Greens. Lush broad-leafed plants are easy to maintain indoors and add some life to any room. If you don’t have a green thumb, opt for silk plants instead.

4. Accent Floors. A new rug is the perfect accent. Look for one that has colors that reflects your décor, and then angle it under a coffee table or dining room table.

5. Frame It. Use multiple frames that are of a similar style to create a framed picture collage on the wall. If frames don’t match, faux finish them for a complete look. . Lighting dictates the mood of a room. Mix and match lamp bases and shades to create new looks. Looking for another bright idea? Add recessed lighting.

6. Light Up Your Room.

7. Go Faux. Create a whole new look with faux finishing. Washing, leafing, marbling and stripping can be used to change walls or make furniture look fresh.

8. Update Cabinets. New hardware can transform a kitchen. Select matching sets of knobs and pulls to completely change the look and feel of your cabinets.

9. Wallpaper. Wallpaper doesn’t need to go wall-to-wall. Use it with paint to accent borders or choose a single wall to express your style.

Projects Under $500

10. Update Fixtures. New fittings, a fresh vanity and new toilet can completely change the appearance of your bathroom. Choose sets that work well together.

11. Add Moulding. Crown moulding adds a touch of luxury. To install it yourself, buy extra moulding and practice your miter cuts before beginning.

12. Update Flooring. New flooring gives a room a boost from the bottom. Try a natural-looking wood laminate. It’s simple to install and yields extraordinary results.

13. Install a fan. A large, decorative ceiling fan with a light fixture can brighten a room and create a comfortable climate
that you control at the touch of a button.

14. Organize Closets. Less clutter will make your entire home feel more spacious. Maximize storage with new shelving and wire organizers so everything is neat.

15. Care For Your Landscape. Add new hedges in the front, trees in the back and flowers that complement your home’s exterior. Little outdoor projects like these can really make you feel more settled in.

These ideas are provided as a service from Lowe’s, the Original Home Improvement Warehouse. Lowe’s assumes no liability for omissions, errors or the outcome of any project. The reader must always exercise reasonable caution, follow current codes and regulations that may apply, and is urged to consult with a licensed professional if in doubt about any procedures. Please read our terms of use.

 

Written By Lowes

Source: https://realtytimes.com/consumeradvice/homeownersadvice/item/1025609-15-ideas-for-home-projects-on-a-budget?rtmpage=

 

March 13, 2019   No Comments

4 Reasons to Buy a Home in the Spring

4 Reasons to Buy a Home in the Spring

Spring has sprung, and it’s a great time to buy a home! Here are four reasons to consider buying today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 4.4% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.6% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage came in at 4.41% last week. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

Some renters have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgageeither yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move On with Your Life

The cost of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Examine the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, greater safety for your family, or you just want to have control over renovations, now could be the time to buy.

Bottom Line

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

 

Written By KCM Crew

https://www.keepingcurrentmatters.com/2019/03/11/4-reasons-to-buy-a-home-in-the-spring/

March 11, 2019   No Comments

Down Payment Dilemma: How Do You Know How Much To Put Down On A Home?

You’d be a homeowner right now if it weren’t for one thing: the down payment. Right? Even for those who have decent credit and make good money, the down payment is often the great homeownership killer.

For many others, who do have enough money set aside to make a substantial down payment, the question is: how much? Conventional wisdom—not to mention most of the banks and a good portion of homebuying and financial experts—will tell you that 20 percent is the standard bearer when it comes to down payments. But is it really necessary to put 20 percent down?

The short answer is: no.

Now for the long answer.

“Raising a 20 percent down payment isn’t an easy thing to do. Fortunately, you don’t have to. “It’s a myth that all homebuyers must have a 20 percent down payment to buy a home,” says Nancy Herrera-Siples, a Riverside, Calif., branch manager at Primary Residential Mortgage on U.S. News. “So why do you constantly hear that you need to put 20 percent down? Because if you don’t, it usually means you’ll have to shell out money for either private mortgage insurance or government insurance, which is usually financed by the Federal Housing Administration (FHA).”

And there’s another rub for those who are already struggling to come up with the minimum down payment: that extra couple of hundred dollars per month feels like a penalty. It’s not, of course—”Mortgage insurance protects the lender in case you can’t make your payments and the house is foreclosed on,” said U.S. News—but that money can make a significant difference for those who are stretching to buy a home.

Still, when your only option to buy is a low down payment, which can mean an FHA loan or one of the new low down payment loans from Freddie Mac and Fannie Mae—”At the end of 2014, the two government-backed companies announced plans to slash down payments from 5% to 3%,” said CNN—PMI might literally be a small price to pay. Especially if swelling rents are making homeownership look more and more promising. Remember that PMI does go away eventually when your loan balance is 80 percent or less of the home’s value. If you’re in an area where homes are rising in value, this could happen sooner than you think.

Still confused about the ins and outs of down payments? Here are a few reasons to go high…or low.

When to make a substantial down payment

  • When you’re looking to keep your monthly payment as low as possible and have cash to spare
  • When you just can’t fathom paying PMI
  • When your goal is to buy a forever home and own it free and clear
  • When you are approaching retirement age and can envision a reverse mortgage sometime down the line
  • When you want to buy your house and pay it off as quickly as possible
  • When the rate is lower with a higher down payment. “The more you put down, the better position you are in for negotiating a lower interest rate with your lender,” said Credit.com. Plus, a “low down payment might affect other loan features, such as…the points, which are upfront interest charges,” said Banking My Way.
  • If you’re worried about being under water. If the market should drop in your area, you run the risk of owing more than your home is worth.

When to go low

  • When you don’t have the funds for a higher down payment and can’t earn or borrow them quickly enough
  • When the rate on your FHA or Fannie or Freddie loan is comparable to that you’d get with a higher down payment
  • When you need to escape a high-rent situation and the monthly payment on a house is lower than what you’re currently paying, even with the PMI factored in
  • When you’re confident your home will appreciate quickly, allowing you to refinance and get rid of PMI quickly
  • When your investments can’t be touched without a penalty or are returning better than the interest rate you’ll get on your home
  • If you have something better to do with the money. “If you bought a $400,000 home, 5% down would be $20,000, while 20% down would be $80,000—a whopping difference. An immediate need such as a college tuition payment would make the smaller down payment more appealing,” said Banking My Way.
  • When you feel more secure setting money aside for emergencies instead of tying it all up in your house.

 

Written By Jaymi Naciri

Source: https://realtytimes.com/consumeradvice/buyersadvice/item/38415-20150917-down-payment-dilemma-how-do-you-know-how-much-to-put-down-on-a-home?rtmpage=

March 11, 2019   No Comments