You know how Dr. Oz says that if you keep your body fit and your mind nimble, you’re likely younger than your chronological years? The same principle applies to your house.An out-of-shape house is older than its years and could lose 10% of its appraised value, says Mack Strickland, an appraiser and real estate agent in Chester, Va. That’s a $15,000-$20,000 adjustment for the average home.But good maintenance can even add value. A study out of the University of Connecticut and Syracuse University finds that regular maintenance increases the value of a home by about 1% each year.So if you’ve been deferring maintenance, or just need a good strategy to stay on top of it, here's the simplest way to keep your home in good health.Focus on Your Home’s #1 EnemyIf you focus on nothing else, focus... 06/21/2015

A roof inspection is one of those preventative maintenance jobs that's easy to overlook. Don't. Add a once-a-year reminder on your calendar to go out on a warm day and fix any problems you find.If you're squeamish about heights, don't worry. You can do a thorough inspection from the ground using a pair of binoculars.Or, you can get up close and personal with your roof using a ladder. However, there's no need to get up on your roof just yet. The less you walk around up there, the better for your roofing -- and the safer for you. Work your way around your house, noting any potential problems.Here's what to look for: Cracked caulk or rust spots on flashing. Shingles that are buckling, curling, or blistering. Missing or broken shingles. Cracked and worn rubber boots around vent pipes. Missi... 06/18/2015

With a bit of preventative maintenance, your home's siding could be trouble-free for 50 years or more. And that means you won't have to replace siding as often.Cleaning siding removes the dirt and mildew that shortens the life of siding. A clean house protects your investment, too. Some real estate appraisers say good curb appeal can add 5%-10% to the value of your house.Cleaning All Types of SidingAll types of siding benefit from an annual cleaning to remove grit, grime, and mildew. Cleaning an average-sized house may take you and a friend every bit of a weekend. Here's how to do it:1.  Start with a bucket of warm, soapy water. Mix 1/2 cup trisodium phosphate (TSP, available at grocery stores, hardware stores, and home improvement centers) with 1 gallon of water.2.  Divide your siding ... 06/17/2015

We know so well the thrill of owning your own house -- but don't let the excitement cause you to overlook the basics. We've gathered up a half dozen classic boo-boos new homeowners often commit -- and give you some insight on why each is critically important to avoid.1. Not Knowing Where the Main Water Shutoff Valve IsWater from a burst or broken plumbing pipe can spew dozens of gallons into your home's interior in a matter of minutes, soaking everything in sight -- including drywall, flooring, and valuables. In fact, water damage is one of the most common of all household insurance claims.Quick-twitch reaction is needed to stave off a major bummer. Before disaster hits, find your water shutoff valve, which will be located where a water main enters your house. Make sure everyone knows w... 06/16/2015

If you’re 62 or older, a reverse mortgage lets you keep your house and receive a lump sum or monthly payments that you don’t have to pay back until you move out or pass away.Although that can be a blessing if you’re house-rich but cash-poor, the reverse mortgage’s biggest pro (you get cash) comes with cons. Closing costs are steep. And if you spend your home equity early in retirement, you might come up short later in life if you have high medical bills, have to pay for long-term care, or your living expenses outpace your investment income.Before you commit to an expensive reverse mortgage, it pays to consider alternatives. Maybe one of these seven options will solve your problems.1.  Rex AgreementsIn a Rex agreement, you agree to sell the future increase or decrease in your home equity... 06/15/2015

What do surf breaks, Walmarts, and public transportation have in common? Being near any of them can add thousands to your home’s value.At least that’s what various university researchers have found based on their evaluation of variables that could be influencing home prices. Their conclusions might surprise you. Here's what they found:1. Surf BreaksBeing within a mile of a surf break (a spot where surf-able waves happen) adds about $106,000 to a home’s value, according to surfonomics experts at the Monterey Institute of International Studies.Reality check: Mother Nature makes surf breaks, so it’s not like you could build your own DIY break to boost your home’s value.2. Parks and Open SpacesA desirable public park or other recreational open space boosts the property value of nearby homes... 06/14/2015

If you want to make your remodel project shine, finalize your lighting design before you select paint and carpet colors. The light you choose to illuminate tasks or set the mood will change the way you see color throughout the room. The Robin’s Egg Blue you picked could look like Paris at Sunset under some kinds of light.It’s all determined by the way light and colors interact.“People have to understand that the color of an object won’t look the same 24 hours a day,” says lighting designer Joseph Rey-Barreau. “I just had bamboo flooring installed throughout my house, and during the day it looks totally different than it looks at night.”The way we “see” color primarily depends on two things:1.  The light that an object absorbs. Black absorbs all colors; white absorbs none; blue absorbs r... 06/10/2015

Whenever an eager salesperson tries to sell me an extended warranty on a major appliance, I wonder, “Why is this person trying to save me money?”Short answer: They’re not.Extended warranties are cash cows for retailers who typically pocket 50% of the warranty cost, which is much more than the margins they make on the goods themselves, says "Consumer Reports." That’s why retailers put the hard squeeze on customers just before they make the final sale, and 15% of us succumb, typically paying $75 for the add-on.And even though we can’t say buying an extended warranty is throwing money down the drain -- once in a blue moon you actually collect -- spending more than 20% of purchase price on a warranty is a bad idea, even if it makes you sleep better at night.Here’s why.Appliances Rarely Brea... 06/09/2015

In recent years, the average tax refund has totaled about $2,700. If you're fortunate enough to get back that much from the IRS, then consider investing your tax refund in your home.Why invest a tax refund in your home instead of, say, a tropical getaway? Because your home is probably your biggest asset, so it pays to take care of it--literally. Home improvements ranging from storm windows to tankless water heaters can increase your comfort and enjoyment, and add to your home's value.1. A tankless taskIf you're like most homeowners, you probably don't care how your water gets heated, so long as it's hot when you turn on the shower. Fair enough. But your water heater deserves closer attention, especially if it's more than a decade old. That's when conventional storage-tank water heaters ... 06/07/2015

Whether it’s summer heat or winter cold, insulation makes your house a lot more livable. If you added insulation in 2014, you might be eligible to collect a $500 energy tax credit.Tax credit limits and deadlines: 10% of expenditures, up to $500 for the year, for all energy improvements combined. It's a lifetime credit. Insulation must have been installed by Dec. 31, 2014. Save receipts and labels for Uncle Sam. Be sure to file IRS Form 5695 with your return. The Energy Star site is your safest bet for information on how to get the credit. Energy Star has been pretty flexible on what it allows for this credit: Batts Rolls Blow-in fibers Rigid boards Expanding spray Pour-in-place  Products that reduce air leaks also qualify: Weather stripping (such as fabric, foam, or metal to provide a s... 06/04/2015

When an appliance is old and isn’t working efficiently, it’s easy to decide to replace rather than repair the machine -- may it rest in peace.But appliances often break before their time, making the repair-or-replace decision harder.If money is tight, you may have to repair the appliance and hope for the best. But if you’ve got some coin, then replacing with a new, energy-efficient model often is the better way to go.That’s a lot of ifs, and the repair-or-replace dilemma often is hard to resolve. Here are some guidelines that will help you decide. Is It Really Broken?When appliances stop working, we get so rattled that the obvious escapes us. Before you panic, make sure: The appliance is plugged in. Circuit breakers haven’t tripped. (I once replaced a blender only to discover that the c... 06/03/2015

Today’s refrigerators are the most energy efficient ever, and they’re loaded with cool technologies that can extend the shelf life of fresh foods. We’ll tell what you need to know so you can pick the best refrigerator for your home and budget. First Things First: Refrigerator Types and CostsThe best refrigerator for your home is right-sized to your household’s needs. Here’s a breakdown of the standard refrigerator types, capacities, and price ranges.Top freezer: This classic style offers homeowners the most bang for their buck. The freezer compartment is at the top of the unit, with the refrigerator below. These unfrilly fridges pack lots of useable storage space for their size, especially compared with refrigerators with features, such as beverage dispensers and ice-makers, that eat up... 05/31/2015

If you upgraded one or more of the following systems last year, you may be eligible to take a tax credit -- up to $500 -- on your return. Biomass stoves  Heating, ventilation, air conditioning  Insulation   Roofs (metal and asphalt)  Water heaters (non-solar)  Windows, doors, and skylights   The energy tax credits are small, but at least a credit is better than a deduction: Deductions just reduce your taxable income. With a credit, you get a dollar-for-dollar reduction in your tax liability: If you get the $500 credit, you pay $500 less in taxes.  Limits on IRS energy tax credits besides $500 max Credit extends to 10% of the cost, so you have to spend $5,000 to get $500. $500 is a lifetime limit. If you pocketed $500 or more in past years combined, you’re not entitled to any more money ... 05/28/2015

Today’s ranges cook more efficiently than their avocado ancestors thanks to fresh features and newfangled technologies. We separate the wheat from the chaff so you can pick the best range for your home. First Things First: Gas or Electric?If you don’t have a gas supply to your house, the answer is easy. But if you can go with either gas or electric, budget and cooking preferences play a significant role in deciding. Also, some people prefer electric ranges because of safety issues -- there’s no chance of a gas leak. Here’s food for thought: Popularity: Electric smooth-top ranges are the best sellers because of price and performance. They account for more than 60% of all ranges sold. Budget: Electric ranges are typically less expensive than their gas counterparts. However, gas ranges are... 05/27/2015

If you installed new windows or doors in 2014, you may be able to claim up to $500 in tax credits. Tax credit limits and deadlines: For doors, you can claim up to a $500 credit.For windows and skylights, you can claim only up to a $200 credit. (That’s total -- not per window.)10% of expenditures, up to a lifetime $500, for all energy improvements combined.Installation costs aren’t covered.The relevant doors, windows, and skylights must have been installed by Dec. 31, 2014.Save receipts and labels.File IRS Form 5695. The Energy Star site is your safest bet for information on how to get the credit and what's covered. Don’t rely solely on contractors who may not know the details or who promise their products will get the credit in order to make a sale. Read on to find out if you qualify fo... 05/26/2015

It's no secret that finishing your basement will increase your home's value. What you may not know is the money you spend on this type of so-called capital improvement could also help lower your tax bill when you sell your house.Tax rules let you add capital improvement expenses to the cost basis of your home. Why is that a big deal? Because a higher cost basis lowers the total profit—capital gain, in IRS-speak—you're required to pay taxes on.The tax break doesn't come into play for everyone. Most homeowners are exempted from paying taxes on the first $250,000 of profit for single filers ($500,000 for joint filers). If you move frequently, maybe it's not worth the effort to track capital improvement expenses. But if you plan to live in your house a long time or make lots of upgrades, sa... 05/25/2015

Water heaters aren’t the types of thing that get ogled on Pinterest. But when yours goes kaput, a new water heater quickly becomes your most coveted major appliance. We tell you what you need to know before buying an electric or gas storage tank water heater so you can pick the best option for your home. First Things First: Types of Storage Water Heaters and CostsHeating water is the second-largest expense in our homes, according to the Department of Energy, accounting for 14% to 18% of our utility bills. That makes picking the right water heater an important decision not only for your comfort, but for keeping energy costs under control, too.We’ll cover four types here. They all keep water toasty in an insulated storage tank until it’s used. And all, except for point-of-use, are whole-h... 05/24/2015

A solar water heater uses the renewable thermal energy produced by the sun to warm water for your shower, washing machine, and dishwasher. Better yet, it does it at a fraction of the price of a conventional storage tank water heater. If you take the plunge and purchase a solar water heater, expect to see your home's water-heating bill cut in half.The financial attraction doesn't end there. A federal energy tax credit that's available through the end of 2016 allows homeowners to shave 30% off the cost of a solar water heater. Even new homes and second homes qualify.How Solar Water Heaters WorkSolar water heaters operate in one of two ways: either as a direct system or as an indirect system. A direct system warms water by circulating it via pipes through rooftop solar collectors. An indir... 05/21/2015

A vacation home offers a break from the daily grind, but it can also offer a break from taxes. The IRS allows most owners to lower taxable income by taking tax deductions for vacation homes. What's deductible depends on a number of factors, especially how often you visit and whether you allow renters.Don't limit your notion of a vacation home to a beach cottage or a mountain cabin. Even RVs and boats can count, as long as there are sleeping, cooking, and bathroom facilities. Tax deductions for vacation homes are complex, so consult a tax adviser. Is Your Vacation Home a Vacation Home?If you bought your vacation home exclusively for personal enjoyment, you can generally deduct your mortgage interest and real estate taxes, as you would on a primary residence. Use Schedule A to take the de... 05/20/2015

For home cooks, a wall oven means flexibility and convenience that boost kitchen function and home enjoyment. We give you food for thought so you can pick the best model for your household’s lifestyle.First Things First: Gas or Electric?Typically, the type of power you use in your home determines whether you go with a gas or electric wall oven. If you can go either way, budget and cooking preferences will drive your final decision. Here’s more to chew on: Electric wall ovens heat foods more evenly than gas and are considered easier to clean, according to Consumer Reports.  There’s a much larger selection of electric units than gas to choose from. Budget and standard ovens that run on gas generally cost $100 or more than their electric counterparts.  Types of Wall Ovens and CostsHere’s a... 05/19/2015