WHAT IS A DEEP ENERGY RETROFIT?

Owning an older home can be a really amazing experience. Not only do you get to actually live in a slice of history, but you’re also there to make decisions about this building that will stay with its potential for generations to come (no pressure). But it’s not all pink toilets and clawfoot tubs; a lot of the most important calls in older homes are about energy efficiency.

Deep energy retrofits are becoming increasingly common for older homes, helping to turn these structures that can be absolute energy vampires into far more efficient versions of themselves. This is well beyond a little weather stripping and can make a big difference to longer-term performance.

Deep Energy Retrofit Versus Weatherproofing

Weatherproofing is vital for homes of all ages, just to make sure that your home is sealed as best it can be, and that the equipment you have is performing at its best. But weatherproofing usually involves sealing cracks, caulking trim, and making sure everything fits snugly together. Deep energy retrofits can go well beyond that, depending on your home, your goals, and what your experts have to say about it.

In a deep energy retrofit, sealing the holes is important, but so is upgrading materials that are fundamental for the energy efficiency of an older home, using materials that make it more on par with newer ones. For example, as part of a deep energy retrofit, you might replace all your windows with triple-pane insulated glass unit windows, and insulate the underside of your roof to help prevent heat penetration into your attic.

You might also upgrade or completely change your HVAC system, for example, going from a boiler to a ductless mini-split system or improving airflow by adding new air intakes throughout your home. The combinations are endless and largely depend on your local climate and your home’s needs.

Problems to Watch for With Deep Energy Retrofits

Although deep energy retrofits can save you a lot of money in the long term, there are some issues with doing the wrong kinds of upgrades to your home. Some houses, for example, use a type of exterior wall structure that isn’t very compatible with spray foam. They actually need the air gap between the walls to help moisture evaporate away from your house.

Other homes might have never been intended to be sealed so tight, so older fixtures like gas stoves and furnaces may require additional ventilation to prevent the build-up of harmful carbon monoxide gasses. Most older homes constantly exchange air with the outside world, which is why they may require significant modification to achieve a safe deep energy retrofit.

Because deep energy retrofits often require a rethinking of how the building envelope functions, they can be very time-consuming and costly to complete. This isn’t a reason to not pursue one, but it is something to keep in mind while you’re planning out your upgrades. After all, it’s hard enough to live with a kitchen in chaos, let alone an entire house turned upside down. A “one section at a time” approach can work well.

Looking for a Deep Energy Expert?

Although most of the work involved in a deep energy retrofit can be easily completed by a brave general contractor or handyman, it’s important to get the right person for the job when it comes to these projects. Not only will your home’s individual needs be taken into consideration, but you’ll also be certain that other, less obvious things (like carbon monoxide buildup) are caught before they become an issue.

Let the Rural KC Team know if you are interested in buying or selling a rural property.  It's all we do!  913-837-0760 or 913-837-0411.

THE COST OF WAITING FOR MORTGAGE RATES TO GO DOWN

 Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can help you make an informed decision when you set your homebuying plans.

The Impact of Rising Mortgage Rates

As mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can comfortably afford. Here’s how it works.

Let’s assume you want to buy a $400,000 home (the median-priced home according to the National Association of Realtors is $389,500). If you’re trying to shop at that price point and keep your monthly payment about $2,500-2,600 or below, here’s how your purchasing power can change as mortgage rates climb (see chart below). The red shows payments above that threshold and the green indicates a payment within your target range.

As the chart shows, as rates go up, the amount you can afford to borrow decreases and that may mean you have to look at homes at a different price point. That’s why it’s important to work with a real estate advisor to understand how mortgage rates impact your monthly mortgage payment at various home loan amounts.

Are Mortgage Rates Going To Go Down?

The rise in mortgage rates and the resulting decrease in purchasing power may leave you wondering if you should wait for rates to go down before making your purchase. Realtor.com says this about where rates could go from here:

“Many homebuyers likely winced . . . upon hearing that the Federal Reserve yet again boosted its short-term interest rates by three-quarters of a percentage point—a move that’s pushing mortgage rates through the roof. And the already high rates are just going to get higher.”

So, if you’re waiting for mortgage rates to drop, you may be waiting for a while as the Federal Reserve works to get inflation under control.

And if you’re considering renting as your alternative while you wait it out, remember that’s going to get more expensive with time too. As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), says:

“There is no doubt that these higher rates hurt housing affordability. Nevertheless, apart from borrowing costs, rents additionally rose at their highest pace in nearly four decades.”

Basically, it is true that it costs more to buy a home today than it did last year, but the same is true for renting. This means, either way, you’re going to be paying more. The difference is, with homeownership, you’re also gaining equity over time which will help grow your net worth. The question now becomes: what makes more sense for you?

Bottom Line

Each person’s situation is unique. To make the best decision for you, partner with a real estate advisor to explore your options.  The Rural KC Team is here to help you.  Give us a call with any questions you might have.  913-837-0760 or 913-837-0411.

IF YOU ARE THINKING OF SELLING YOUR HOUSE THIS FALL, HIRE A PROFESSIONAL

Today’s market is at a turning point, making it more essential than ever to work with a real estate professional. Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspects of selling your house.

Here are five key reasons why working with a real estate professional makes sense today.

1. A Professional Follows the Latest Market Trends

With higher mortgage rates and moderating buyer demand, conditions are changing and staying on top of the latest market information is crucial when you sell.

Working with an expert real estate advisor helps ensure you can stay updated on what’s happening. They know your local area and follow national trends too. More importantly, they’ll know what this data means for you, and as the market shifts, they’ll be able to help you navigate it and make your best decision.

2. A Professional Helps Maximize Your Pool of Buyers

Your agent’s role in bringing in buyers is important. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house is viewed by the most buyers. Investopedia explains why it’s risky to sell on your own without the network an agent provides:

“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home. 

 

A smaller pool of potential buyers means less demand for your property, which can translate into waiting onger to sell your home and possibly not getting as much money as your house is worth.”

 

3. A Professional Understands the Fine Print

Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors (NAR) explains it best, saying:

“Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”

A real estate professional knows exactly what needs to happen, what all the fine print means, and how to work through it efficiently. They’ll help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own.

4. A Professional Is a Trained Negotiator

If you sell without a professional, you’ll also be solely responsible for all the negotiations. That means you’ll have to coordinate with:

 

• The buyer, who wants the best deal possible
• The buyer’s agent, who will use their expertise to advocate for the buyer
• The inspection company, which works for the buyer and will almost always find concerns with the house
• The appraiser, who assesses the property’s value to protect the lender

In today’s changing market, buyers are regaining some negotiation power as bidding wars ease. Instead of going toe-to-toe with all the above parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.

5. A Professional Knows How To Set the Right Price for Your House

If you sell your house on your own, you may be more likely to overshoot your asking price. That could mean your house will sit on the market because you priced it too high for where the market is now. Today, pricing a house requires even more expertise to ensure you get it right. NAR explains it like this:

“A great real estate agent will look at your home with an unbiased eye, providing you with the information you need to enhance marketability and maximize price.”

Real estate professionals know the ins and outs of how to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your home. These steps are key to making sure it’s set to move quickly while still getting you the highest possible final sale price.

Bottom Line

Whether it’s following local and national trends and guiding you through a shifting market or pricing your house right, a real estate agent has essential insights you’ll want to rely on throughout the transaction. Don’t go at it alone. If you plan to sell your house, reach out to The Rural KC Team-Keller Williams Partners.  We are experts in buying and selling rural property.

 

LIGHTNING PROOFING YOUR HOME

 

Big storms can be scary. The wind, heavy rain, and the threat of even more extreme weather, can also bring with them a lot of damage. While a lot of people make plans on how to react to some of the big dangers associated with storms, there’s one more common threat that often goes overlooked: lightning strikes.

To be fair, there’s a lot of folk wisdom about how unlikely it is to be struck by lightning (less than a 1 in 15,000 chance) and about how lightning doesn’t strike the same place twice (though it does). What this leaves out is that there’s a 1 in 200 chance that your home will be struck by lightning or the amount of damage that one of these strikes can do. If you really want to protect your home and your belongings from the dangers of lightning, there are a few things you’ll need to do.

Protecting Your Home

The most well-known way to protect your home from a lightning strike is the installation of a lightning rod. These devices provide a simple but effective means of attracting lightning strikes and then diverting them to the ground instead of allowing them to strike and damage other parts of your home. They are an effective solution when it comes to direct lightning strikes, but you may be surprised to learn that even with a lightning rod in place your home can still suffer significant damage from lightning.

The problem is that lightning from nearby strikes can also damage your home as it gets conducted through wires, pipes, and other materials in your house. Unfortunately, a lightning rod isn’t going to help with this. Instead, it’s recommended that you have a whole-home lightning protection system that includes lightning rods as well as protection on main conductors, grounds, and other elements that can divert and redirect lightning electricity even if it isn’t coming from a direct strike.

Protecting Your Belongings

Another big issue with lightning strikes is that they can cause damage to a wide range of electronic devices in your home. Computers, televisions, and any other electronic device that’s plugged in can be irreparably damaged by a lightning strike and will have to be replaced. This is one reason that surge protectors and similar devices are so highly recommended, as they can help protect the devices that are plugged into them.

Whole-home surge protection systems are also recommended, as they can prevent a lightning surge from even reaching your outlets, preventing possible damage to your home’s wiring, and greatly reducing the likelihood that your devices will be damaged by a power surge before a power strip surge protector can trip its breaker. You should also take the time to unplug unnecessary devices during storms just in case and to make sure that the surge protectors you connect your electronics up to feature transient voltage surge protection that place a hard limit of 1.5 times the normal voltage range, so that your belongings are protected against even non-lightning spikes and surges.

Overcoming the Threat of Lightning

One big thing that you should do to help protect your home and your belongings is to check your homeowner’s policy to make sure that it features protection from lightning-related damage both to the structure of your home and to the items within. While this is common in a lot of policies, this sort of protection isn’t always there, and it’s better to know what coverage you have before you need it. If you don’t have sufficient coverage, you should talk to your insurance agent to see what’s needed to increase the coverage your policy provides.

It’s also a good idea to talk to an electrician or other pro to get a lightning protection system professionally installed to make sure that it’s set up correctly. They can ensure that your system has everything you need to keep you safe in the event of lightning strikes on or near your home. 

As always, call the Rural KC Team-Keller Williams Partners with any questions you may have or if you are interested in buying or selling a rural property.  Bill-913-837-0760 or Danicia-913-837-0411.  Have a great day!