Rent or Buy? Tools to Help You Decide

Given recent dips in home prices and the current low mortgage rate climate, home ownership is significantly more affordable for prospective first-time homeowners. Earlier in 2009, a provision in the Stimulus Bill provided for a first-time Homebuyer Tax Credit of 10 percent of the purchase price of the home up to $8,000. However, there are many extra costs associated with owning a home, such as closing costs, mortgage interest, property taxes, maintenance, and insurance. You will also want to consider whether property values are appreciating or depreciating in the area you are looking to move to. There are several online calculators to help you determine whether you can afford to buy a home or not. Here are a few:

• Move.com


• Ginnie Mae


• Yahoo! Real Estate

Which Neighborhood is Right for You? Questions to Help You Choose

Location, location, location--you've heard it before--the area you choose to live in will have the most impact on your home's value and your quality of life. So how do you know where to go? You probably already know whether you prefer a city, the suburbs, or a small town, and which climate is most desirable for you. But there are many other factors to consider before you relocate. Here are a few questions to help you narrow down your options:

• How long will it take me to get to work? How much will it cost?


• How far will I be from family and friends?


• Can I afford the local taxes?


• What are the schools, hospitals, and other public services like? How close am I to them?


• What is the crime rate?


• Are there any amenities nearby, such as parks and recreation centers? Are there things to do both during the day and the night?


• What is the traffic like? Is it noisy?


• Are there new homes being built nearby? What is the long-term plan for the neighborhood?


• What are the current values of similar homes?


• Is there shopping nearby?


• Where are homes selling fast? Where are sales stagnant?

Hooking Up Gets Easier

One of the headaches of moving into a new residence is calling various utility companies to hook up your services--usually you are put on hold for longer than you would like, and then you wait a few days for the service to kick in. Until now--the Internet has simplified this otherwise annoying process. Most utilities--cable, phone, gas, electricity, and Internet--will let you sign up for service or change your existing service online, saving you far more time than you would spend signing up for each service over the phone.

Even easier is a new service that lets you do all your utilities hookups online, WhiteFence.com. Not only can you sign up for all of the services at once, you can compare each provider for the best price. Just enter your zip code and let the information come to you, including special offers and discounts. And since they will have your move-in date already, the utilities can be hooked up before you arrive, so no more waiting around for the cable guy.

The Eco-Friendly Move

Moving often requires lots of fuel and packing products, but there are ways to relocate with a greener state of mind. Here are some tips:

• Downsize your move: The less stuff you have to pack up and move, the less packing materials you will need. Get rid of any unnecessary clutter by donating things to charity and thrift stores, or selling items on Craigslist or eBay.



• Be on the lookout for boxes: The more boxes and packing materials that you can reuse instead of buying new, the better. You may even be able to find free moving boxes on Craigslist or through some moving companies' recycling programs.



• Rent-a-Crate: Available in 13 U.S. locations, this company rents reusable plastic moving crates that they will deliver to and pick up from any location.



• Use eco-friendly cleaning supplies: You'll probably be doing a lot of cleaning at both your old and new places. Avoid harmful chemical cleaners and opt for natural, biodegradable cleaning products.

Who Are the People in Your Neighborhood?

Once the boxes are unpacked and the furniture is arranged, it's time to adjust to your new home. Moving to a new neighborhood can be overwhelming, and one way to smooth the transition is to find time to introduce yourself and your family to your neighbors. Don't wait until you need to borrow a power tool to meet your neighbors--knowing who is in your community will help you feel safer and, hopefully, you will make new friends too. You may think you don't have time to put in the effort to meet the people in your 'hood, but just a few simple steps can help speed the process:

• Curb appeal: Get outside and do yardwork or repairs around your home--not only is this good for your home, but your neighbors will probably notice you. This is a great opportunity to wave and say hello. Don't come on too needy, just be pleasant and drum up a conversation.


• Hit the park: Most neighborhoods have a park, a playground, or even a few benches where locals congregrate. Similar hangouts include community pools, libraries, and coffee shops. Make an effort to visit these areas, even if it's just to read a book. Ask your neighbors for recommendations on local attractions and they will probably be happy to share information with you.


• Explore common interests: If you have kids, you will most likely have an easy time meeting other parents in the neighborhood. Likewise, figure out what you have in common with people in your area, and be open to making a connection. Join a local exercise group, take a class in your neighborhood, or explore the arts scene.


• Knock, knock: Bringing a baked dessert over to your new neighbors' doorstep might sound like a scene from the 1950s, but there's nothing wrong with going out of your way to meet the people in your proximity. You might find an elderly neighbor who doesn't get out much who you otherwise would not have met.


• Host a party: You don't necessarily have to throw a block party to get people to like you--invite a small group over for coffee and muffins, or wine and cheese--once you've finished redecorating, of course.