Landlord Skimping on Duties? Maybe it's Time to Move

If you are a renter, you probably know what your responsibilities are--you pay your rent on time, you are clean and considerate of your space, and you follow the terms of your lease agreement. But what if it's your landlord who is neglecting responsibilities? The recession is causing some landlords to skimp on repairs, neglect utility payments, and fall into foreclosure. So how can renters protect themselves? If you think your apartment building is not meeting safety codes, contact your city administrator, local tenants' association, or legal advocate. If all else fails, you may need to move to a new home. Before you sign the lease at your new place, check to see how well the building is maintained. Look at the conditions of the floors, walls, ceiling, foundation, stairs, fixtures, and wiring.

Protect Your Floors During Your Move

Moving is dirty business--have you thought to protect your floors on moving day? Both the home your are moving out of and the one you are moving into are bound to get dirty, dusty, and scuffed by the traffic of movers, heavy furniture, and appliances. A dropcloth or loose pieces of cardboard laid on the floor can be a safety hazard for movers who might trip. Better options include utilizing rugs, carpets, and rubber mats (tape down the edges with painter's tape to avoid shifting) to create a runway into heavily-trafficked areas. Other ways to protect floors include placing adhesive felt pads to the bottoms of furniture legs. Even with the padding, be careful not to drag furniture across the floor. For carpets, use a clear self-adhesive film such as Carpet Shield to prevent stains and wear.

Home Improvement: Where to Begin?

Congratulations, you have just secured your new home! Before you move all of your stuff in, you may want to tackle home improvement projects first. Whether you are the owner of a new house or you are renting an apartment, there are probably a few things that need fixing. Which projects should you complete first? Budget both your time and money with these suggestions:

• Structural: Safety should be your biggest concern when moving into a new home. If the foundation, roofing, siding, or stairs in your home are unsound, begin repairs as soon as possible. Also, check the wiring and electrical outlets. Of course, if you are renting, you will want to have your landlord or super handle the repairs.


• Convenience: What needs to be fixed in order for you to be comfortable? Do you need a fence so that your children and dog will not run into the street? Do you need new screens on the windows to allow fresh air into your home?


• Cosmetic: This will probably be the hardest part of your home repair budget to keep under control when you first move in--there's always something to decorate. Start with the practical first--window treatments, lighting, shelving, children's rooms, etc. Go through one room at a time, saving your private quarters for last.


• Amenitites: Always dreamed of having an outdoor deck with a jacuzzi? How about a swimming pool, an indoor gym, or a bar in the basement? Once you have fixed the most important aspects of your home, add luxuries as your budget allows to complete your dream home.

Moving On Up: Is There Such a Thing as Affordable Luxury?

If you have been apartment- or house-hunting in the past 6 months, you have probably seen ads promoting luxury living for bargain prices. Sure enough, prices are dropping for units in enormous high-rises with swimming pools, roof decks, onsite gyms, and common areas that would be great for having all your friends over, but can you really afford the upgrade? Before you get caught up in a luxury fantasy, figure out how much you can really afford to spend. Remember, you'll need to factor in expenses like paying utilities, buying food, and furnishing your new place.

Most experts recommend planning to pay 25-30% of your take home pay as rent or mortgage, though in some higher cost areas that could run to 35 or 40%. You must take all of your monthly expenses (including credit cards, transportation costs, and student loan payments) into account.
Set a budget and stick to it when looking for your new home. Knowing how much you can realistically spend will help you weed out places you can't afford, no matter how glamorous they seem.

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