Out of the dozens of retirement planning resources, one that has gained a lot of popularity in the recent years is reverse mortgage. Though it turns your home into a steady source of income, yet, in reality, you are using your home’s equity to borrow money that you must repay. As a result, reverse mortgage can turn the tide against you, if you don’t handle it with care.
Reasons to avoid taking out a reverse mortgage
Here are some of the reasons that you should think about before using your home’s equity to take out a reverse mortgage:
- Steep rate of interest - The rate of interest on reverse mortgages are often found to be steeper as compared to the conventional home equity loans. The amount of money that you’d actually get after paying the upfront fees and the high interest charges may be very little. Even though the home equity is yours, yet it is the bank that gets to reap maximized profits.
- Extra loan charges - To get a reverse mortgage you’ll have to bear all the necessary costs associated with the loan. It should be noted that loan origination costs and various other fees on a reverse mortgage is generally higher. You’ll get the loan, however, not on the basis of your credit score and monthly income. So, to offset the elevated amount of risks, reverse mortgage lenders charge high interest rates.
- Threat to property - When you are the borrower, then nobody expects you to repay the loan. Instead, the loan is paid off with the proceed after selling off your home. So, in case, you die, then your home will be liquidated to cover the loan’s repayment. However, this may leave your dependents or heirs homeless, if they don’t have any other home to relocate. Still, your heirs may retain the property, only if they can afford to repay the reverse mortgage in your absence. This may chip away the estate amount your heirs are expected get after your death.
- Home maintenance costs - Even if you’ve got a reverse mortgage, but then you’re still liable to bear all the home maintenance costs. You have to pay your property taxes as well, pay for the homeowner’s insurance and bear all the other home related costs. If you have a very good amount of home equity, then you can expect to cover all these costs with ease, but then that can be something very challenging to achieve.
- Loan repayment liability - Apart from the above reasons, there is another one that should make you think twice before taking out a reverse mortgage and that is the liability to completely repay the loan before relocating to a different home. So, to avoid having to repay the loan, you must continue living in that house for the remaining part of your life.
Primarily, to obtain a reverse mortgage you’ll have to put your primary house of residence as the collateral and if you don’t use your home for at least a year, then you are considered as ‘moved out’. This may make you liable to start making the repayments. For more information o reverse mortgage you may also visit this page: www.mortgagefit.com/
Dismantling the sash
Take the sash out of the window, remove the glass and knock out all pins (Step 1, opposite). Have a helper hold the rails fast, and use a rubber mallet to tap off the stiles. Work the rails free of the muntins, then pull the tenons of the horizontal muntins out of the mortises in the vertical muntins.
Making a new vertical muntin
Using the damaged muntin as a guide, mark a length of muntin stock for the mortise, tenon and end cuts, and cut the stock to length. Clamp the muntin to a scrap of wood on a workbench, drill holes through the muntin within the lines of each marked mortise, then pare out square mortises with a chisel. Shape tapered tenons at the ends of the muntin (opposite, Step 2).
Reassembling the sash
Fit all the muntins together and insert the tenons of the vertical muntins into the mortises of the rails; then, holding the outer horizontal muntins in place, slide the mortises of the stiles onto the tenons of the rails and horizontal muntins. Drive the pieces together with light blows of a mallet. Drill through all pinholes in the rails and stiles and gently tap pins into place.
Prescriptions for Screens, Blinds and Shutters
Screens, blinds, shades and shutters help control air and light, and can improve the appearance of a house. They also wear out and must be repaired or replaced.
Each of the two most common screening materials, aluminum and fiberglass, has its pattern of resistance to damage. Aluminum is less likely to tear or sag; fiberglass will not corrode or oxidize. Whatever your screens are made of, match the repair method to the nature and extent of the damage. Oxidized or dirt-encrusted aluminum screening, for example, needs only rubbing with a wire brush and a once-over with a vacuum cleaner to restore it to its original condition. Loose joints on wooden frames can easily be reinforced with corrugated fasteners, angle plates Or screws.
Holes in screening can be fixed in sev-
eral ways. Fixing a very small hole may mean simply pushing the wires of the screening back into line with the tip of an awl. Other small gaps can be plugged with dabs of weatherproof glue or with patches glued in place. On metal screening you can also fasten patches by weaving the wires at the edges of the patch into the surrounding mesh, or you can use ready-made patches with edging wires prehooked to clip onto the screening. On fiberglass screening, iron patches in place: simply set a fiberglass patch over the hole, cover the patch with a cotton rag and run a hot iron over the rag, fusing the patch to the screen ing.
If the holes are so large that you cannot patch them, or so close to the frame that the screening sags, replace the screening completely. The method of re-
placement depends on the type of frame. On all metal frames and some wooden ones, screening is secured with a spline— a thin strip pressed down over the screening and into a channel at the inside edges of the frame. To replace the screening, you must pull out the old spline and screening, then put the spline (a new spline if the old one is broken or brittle) back in place over new screening. The only specialized tool you will need is a simple one—a screen-spline roller.
On some wooden frames the screening is secured with tacks or staples that normally are concealed by molding. Professionals install new screening while the frame is slightly bowed by clamps (page 42, Step 2); when the clamps are released, the frame itself tightens the screen ing as it straightens out.
A Spline for Screening on a Channeled Frame
Securing a short side. Cut a piece of screening to the outer dimensions of the frame. If your screening is metal, crease it into the spline channel on a short side of the frame, using the convex wheel of a screen-spline roller (left); start at a corner and work in short back-and-forth strokes. With the concave wheel, force the spline into the channel over the screening (right). Fiberglass will not crease: roll the spline down over the screening in one step. New spline must be cut off at the corners of the frame and tamped into place with a screwdriver.
A window sash in traditional style is an interlocking grid of wood holding small panes of glass. Vertical stiles and horizontal rails form the sturdy outer framework of the sash; relatively fragile strips called muntins support the panes within. All of these wooden pieces are snugly jointed with interlocking notches and projections called mortises and tenons. To preserve the beauty of a valuable or antique window, it is better to replace individual parts, when necessary, than to substitute an entire modern sash.
Replacing a muntin—the piece most likely to be damaged when a window is broken—is an especially intricate job. To replace a single vertical muntin, you must take the whole sash apart. To replace one of the shorter horizontal muntins, either dismantle the sash or use the shortcut method shown overleaf. In both methods, you must first take the sash out of
the window and carefully remove all the glass (pages 50-57), keeping each pane intact for reinstallation, before you can workonthemuntin.
To ensure a proper fit, always get a new muntin of the same design as the one it replaces. Most window dealers stock a variety of muntin designs; if you cannot match your own, you can have one specially milled. The wooden pins that lock the muntin tenons into the mortises can be easily shaped by hand from scrap lumber; alternatively, steel pins are available from window dealers.
Not all muntins are individually fitted together. If the one you must replace is a part of a decorative one-piece grille fitted over a single pane of glass, a window dealer should be able to supply a wooden or plastic replacement. These grilles, which generally come with instructions, aresimply snapped into place.
The intricate joinery of a sash
In this traditional window sash, the ends of horizontal rails are shaped into projections (called tenons), which fit into holes (called mortises) cut into the ends of the vertical stiles. Each of these mortise-and-tenon joints is secured by a wooden or steel pin driven completely through it. The interior wood strips, called muntins, are also joined with mortises and tenons. The tenons of the vertical muntins fit into mortises in the rails. Horizontal muntins have tenons that fit into mortises in the vertical muntins and the stiles.
Splicing a Short Muntin
Removing the pin
Take the sash out of the window (pages 12, 14), remove the panes of glass (pages 50-51) and set the sash on scraps of wood. If the damaged muntin fits into a stile, scrape the paint and putty from the pin in the muntin’s mortise-and-tenon joint, then drive the pin completely out of the hole with a center punch, a blunted nail or—best of all—a wooden dowel of the same shape and diameter as the pin. Cut the damaged muntin in half, pull its tenons out of the mortises and set the pieces aside. Cut a new muntin Va inch longer than the combined length of the two pieces you have removed.
Shaping the new muntin
Judging by eye and using the old muntin as a guide, mark the shape of the tenons on the new muntin and use a coping saw to cut the ends of the new muntin to the desired shape of the tenons.
I Fitting the new muntin
Make a diagonal cut ‘through the center of the new muntin and taper the ends of the tenons slightly to ease their fit; then coat the diagonal surfaces with waterproof glue, insert the tenons into the mortises, and clamp the two pieces of the muntin together for at least 12 hours (inset).
If the muntin is one that fits into a stile, drill through the pinholes of the stile to make a hole in the new tenon. Coat a pin with glue and gently tap it into place with a mallet.
Measure the distance between the outer edges of the interior casings (their positions will be visible on the wall even after you have removed the casings) and add Wz inches; measure the depth of the window from the inside edge of the jamb to the far edge of the interior stop and add the thickness of the interior casing plus % inch. Cut stool stock to this total length and width. With a helper centering the stool piece—right side up, inner, molded edge toward him—against the jambs, level with the finish sill, set the blade of a combination square across the piece and against the inner face of each side jamb; draw lines from the jamb faces across the stool. Extend these lines down across the squared, outside edge of the stool.
Starting at points directly above the inner corners of the rabbet on the stool’s underside, draw lines from each end of the stool to intersect the jamb lines at a right angle (inset). Cut out corners for the stool horns on the waste sides of the lines. Slip the stool into position, with its rabbet fitted to the top corner of the sill, and close the window sash. There should be a l/i6-inch gap between the sash and the stool; if you find too little clearance, plane the stool down and sand the planed area smooth. Finish the ends of the horne.
Attaching the stool
At points in the corners of the stool that will be covered by the side stops, and at two additional points to the left and right of the center, drill pilot holes and drive eight-penny finishing nails down through the top of the stool into the sill. Then replace the casings and the stops
Installing the apron
Cut a piece of apron ‘stock IV2 inches shorter than the stool, finish the ends and set it in place, centered under the stool. Fasten the apron with three sixpenny nails along the top—one at the center and one at each end—and three fourpenny nails similarly spaced along the bottom.
Rounded, mitered and coped
You can, of course, simply square the ends of a stool or apron with a backsaw and miter box, smooth the cuts with sandpaper, then nail the piece in place. Most professionals, however, prefer to use techniques that give the window a more finished appearance. For a stool, they may cut the ends square, then round them with a rasp and sand them smooth (“above, left).
stool and an apron, a more elaborate technique is the mitered return (above, center). Cut the stool or apron to length and miter the ends inward at 45°. Cut two scrap pieces of trim into triangular wedges, with a miter cut at one end to fit the mitered end of the apron and a square cut at the other end to fit against the wall, then glue and nail the wedges in place. A third finishing method, which is used for an apron with a molded
pattern on its face, is to cope the ends to the same profile as the face. Cut the apron about an inch too long at each end and mark the correct end positions on the face. Set a scrap piece of apron stock on end at the marks (above, right) and trace the profile of the piece; then cut the apron along the traced line with a coping saw, keeping the saw straight, and smooth the cut ends of the apron with sandpaper.
Measure and make a notation of the exact distance between the side jambs, then make two cuts approximately a foot apart through the middle of the sill with a crosscut saw. Pry off the cut section and pull the end pieces out of their dadoes (inset); if you cannot free the end pieces easily, pry the bottom of the brickmold on each side slightly away
from the wall. Caution: work slowly and carefully in order to avoid racking or splitting the jambs.
If the jambs have moved inward, use a hammer and a block of wood to tap them back to their original position. If there are no shims behind the jambs at dado level, install shims to prevent the jambs from moving too far apart.
Removing the nails
Working inside the house with a hacksaw blade, cut off the exposed parts of the nails that secured the sill inside the dadoes. The blade can be held in a gloved hand, but the job will go faster with an inexpensive blade holder like the one pictured.
Making the new finish sill
Cut sill stock as 1 long as the distance between the outer edges of the brickmolds. Working inside the house, have a helper center the piece—right side up with the inside edge toward him—against the jambs, at the level of the dadoes, while you set a combination square across the piece and into a dado. Mark a line across the new sill for an exact fit inside the dado; repeat for the other side.
On the lines you have drawn, mark off the length of the dado, measuring from the inside edge of the sill. Draw perpendicular lines from these marks to the ends of the sill (inset). Cut out the inside corners to fit the dadoes and leave sill horns; saw on the waste side of the lines.
5 Installing the sill
Push the inside corners of the sill 1 or 2 inches into the dadoes in the jambs, then set a piece of scrap wood against the outside edge of the sill and tap lightly with a hammer until the inside edge of the sill is flush with the inside edges of the jambs.
Inside the house, drill pilot holes angling through the inside edge of the sill into the side jambs and toenail the sill in place with eightpenny nails (inset). Outside the house, drill pilot holes straight through from the front edge of the sill horns into the studs of the rough frame; secure with nails. Caulk all exterior joints.
Fitting a Stool and Apron
The parts of a window most vulnerable to damage and decay are the trim pieces at the base, which are frequently bumped, banged and rained on. Each has a special name (top, right) that can be confusing because the terminology is often mixed up in common usage. The finish sill, for example, is exposed outdoors only; the indoor “sill” is properly called a stool.
The finish sill is usually the first piece to show signs of wear. If it is merely cracked or pitted, try to restore rather than replace it. Remove all the paint, splinters and wood chips, using paint remover, putty knife and wire brush, then coat the sill with wood preservative. Let it dry for a day and give it two coats of linseed oil, allowing a day for drying after each application. Fill cracks and holes with putty, let the putty dry for a couple of days, then prime and repaint the sill.
A rotted finish sill has to be replaced, however, and promptly, to prevent the spread of rot to the rest of the window. You should be able to match your sill at a local lumberyard; if not, you will have to order the lumber specially milled, for it must fit exactly into dadoes, or grooves, in the side jambs (top, inset). When buying a new sill, get one with a drip groove under the outside edge to prevent water from creeping up the bottom of the sill, and with an angle cut along the inside edge to make this edge vertical when the sill is in place.
Some older windows, assembled on the job, do not have dadoes in the side jambs to hold the finish sill. In their place, you may find an intricate pattern of sill-to-jamb joinery almost impossible for an amateur to duplicate. If you do, have a professional replace the sill or-probably at lower cost—replace the entire window
Replacing a stool calls for a new piece that will fit your sill and walls—and these may vary from the modern standard. If your window needs a stool wider than the standard stock, either adapt the stock by gluing and tacking a strip of wood to the edge that fits against the window sash, or order a specially milled stool. The trim at the base of a window. In a double-hung window, a finish sill fits into side jambs seated in dadoes (7nsef) that slope down outward 15° for drainage. Outside, the sill rests on a horizontal 2-by-4—the rough sill. Extensions of the finish sill, sill horns, fit against the outside edges of the jambs, providing a base for the exterior casing, or brickmold (not shown). These horns vary in length, but need extend no farther than the outer edges of the brickmold.
Inside the house, a stool fits over the finish sill, with stool horns generally extending 3A inch beyond the edges of the interior casing. The bottom of the stool has a beveled rabbet that is angled to set it firmly on the sloping sill. An apron under the stool conceals the gap between the finish sill and the rough sill beneath it, and adds support to the stool. 1 Removing the stool. Take off the interior side casings and stops (page 28), pry off the apron with a chisel and pry bar, and raise the bottom sash. If you plan to replace the stool, simply hit the stool from underneath with a hammer, but if you wish to reuse the stool, you must pry it off from outside (above) after several preliminary steps. First check to see if the stool has been nailed to the studs through the horns; if so, drive the nails completely through the stool with a blunted nail. Then lean out the window, ease a pry bar between the stool and the sill, set a scrap of wood under the bar and gently pry the stool off.
With the mitered ‘ joint aligned, tack the side casing in position-Ms inch from the inner edge of the side jamb on a door or a casement window, flush with the jamb edge on a double-hung window. Starting at the top, nail the casing to the jamb and the studs, using fourpenny finishing nails at the jamb, sixpenny at the studs. If there is an uneven gap in a miter joint after the casing is nailed in place, you can improve the fit by cutting through the joint with a dovetail saw (inset); the casing pieces are so flexible that lock-nailing (Step 7, below) will close the kerf left by the saw.
‘Lock-nailing the joints
An inch from the outside corner of the casing, drive one fourpenny finishing nail vertically down through the top edge of the top casing into the side casing, and another horizontally through the edge of the side casing and into the top casing. The joint should now be even and tight.
Adding New Stops
Positioning the head stop
Cut stop molding to fit between the tops of the side jambs and nail it in place temporarily. Its position depends on the fixture you are trimming. For a door or a casement window, set the square edge of the stop against the closed door or sash. If the door or window has been removed or has not yet been hung, as in the drawing at right, note the direction in which it will swing and, starting from that side of the opening, mark the thickness of the door or sash on the head and side jambs and set the square edge of the stop at the marks.
For a double-hung window, the head stop fits against the closed sash and generally fills the space between the sash channel and the inside
i of the head jamb (inset). On double-nun windows that slide in tracks (page 14), set the stops against the raised edges of the tracks.
Coping the side stops
For a door, cut two lengths of stop stock an inch longer than the distance from the head jamb to the floor; for a window, measure to the stool. Flat stops can be butted together; for mitered stops, cut a 45° miter across the molded face at the top end of each piece, angling from the molded face to 32
the flat face that fits against the iamb (left). The cuts will leave a scalloped profile on each molded face. Trace the profiles with a pencil and, following the marks, make a 90° cut through each piece with a coping saw (center). The ends of the coped pieces will fit snugly against the
stops, trim them at the bottom and nail them in place temporarily as you did the head stop.
Firstly, location itself is main thing which will affect real estate value in the Malaysia or any other country. If the property or real estate is very close to the school, bank, hospital, restaurant, airport, temple, church, transportation facility, shopping mall or other locations which can offer convenience to persons staying at this place, which specifically real estate will surely has the high real estate value which will attract more persons than any real estate.
When this comes to the property, principle of demand and supply refers to capability of persons to repay for the property coupled with relative shortage of the property. The values of property or real estate will be truly driven up by condition of the high demand coupled with the specific buying power and the short supply because of scarcity of the land. In the contrast, the real estate values will truly experience the drop when persons demand less of this while the more supply enters a marketplace.
Let’s take really for the example Penang, being second small state in the Malaysia just really after the Perlis in the terms of the geographic coverage still is eight most crowded with 1.56 million residents according to housing and population census, the Malaysia 2010 that is conducted really for the ten years. The Penang that has the average of the one thousand four hundred and ninety individuals per square km in second most tightly populated states after the Kuala Lumpur. This high level of the population density really puts opposing pressure on the land use that results in rise of the property costs as the developers will truly put very costly tags of price on the projects because of high property prices.
For a modern home, having a set of furniture is of great importance. Nothing adds beauty to house than having Furniture placed outside. Indeed it is gratifying to just sit outside and relax after a busy day. It’s fun to sit near your garden or swimming pool especially if you have comfortable Outdoor furniture with you.
There are a lot of designs to choose from your favourite furniture discount store. It is your best interest to choose furniture that has an attractive design and is durable. To be able to get the most of your money, you should be able to properly choose the best outdoor furniture that you can get. Before you shop take note of these things.
Some furniture may have unique and attractive designs. They may look fabulous on your backyard garden. However, not all of those beautiful provide comfort. If you are the type of person who would choose comfort over design, it would be best for you to choose soft and bigger outdoor sofa beds. You may want to add foam in the furniture to intensify the ex perience. But be sure to put the foam safe from water and rain.
For those who would prefer design over comfort. Then getting the most attractive design is a priority. It certainly looks scrumptious seeing unique set in your pool area or garden. It would be courteous receiving compliments from visitors and guest. You should be also aware that some of the designer furniture is costly and a bit expensive.
Since the furniture is intended to be place outside, you should make sure that quality is above superior. Getting durable tables, sofas, and chairs for your outdoor arena are crucial if you want the cost to be worthwhile. There are certain materials that are water proof. So when choosing the best ones, make sure that the furniture is made up of durable materials.
Some outdoor furniture may cost a bit higher than the usual. If you are on a tight budget, it would be preferable to purchase second hand items. It can save you a lot of money if you purchase those items in garage sales. But if you got the few dollars to spend on new an outdoor furniture choose the one would meet your preference and comfort. You may also want to purchase those imported furniture that have unique designs.
As the owner of home, the one of the basic concerns may really be enhancing real estate value or value of the home. When you’re truly ready to sell the home then you would like to be capable to realize the appreciation from cost which you genuinely reimbursed for the home. And besides waiting for general market of real estate to enhance in the value, you really can perform few especial things to the home which will include the value also. Investing the cash in right things can make the big difference.
- You should add the space to complete size of the home. When you really add on the room, this includes square foot of home and this directly enhances real estate value. When adding on the room to a home, you require making sure that you really get proper building licenses in the place. This is significant as well that exterior of addition matches rest of the home ideally so that this doesn’t look just like the addition.
- You should update a kitchen with the big renovation. The one of most significant rooms in home to the prospective purchaser is a kitchen. And if kitchen is attractive and big, this can truly make difference between the home sells fast or sits on a marketplace. And investing in the kitchen remodeling will normally enhance real estate or home value. You must be capable to get back most of cash which you invest in renovations.