Lake Norman Update

Does It Make Sense to Make Extra Mortgage Payments?

1. Do you have high-interest credit card debt or loans? You'll save a lot more by paying down your 16% interest-rate balances than by paying extra on a home loan that carries a 4% interest rate.
    
2. How long will you own the house? If plan to sell in 10 years, it doesn’t matter if you own 30% or 70%. What matters is whether you get a strong return on your investment, which depends on how much the home’s value has risen. You may be better off rolling your payment into an investment account with an 8% return than a home with a 3% return.
    
3. Are you contributing fully to your investment account at work? Paying $200 into your retirement account in order to get matching funds or defer taxes will give you more back than paying into a mortgage that only costs 4%. Maximize your work benefits before paying extra.
    
4. Will the stock market be a better investment than your mortgage? If you only have enough to do one or the other, you may want to talk to a financial advisor about the return you would get if you invested extra payments for 20 years instead of paying the mortgage faster.

4 Things You Must Do Before Selling Your House

1. Clean it thoroughly inside and out. I mean into the cracks and crevices. Deep cleaned homes show differently –and fetch more money than homes with years-old grime in the window wells, laundry room, under the sinks, and so on.
    
2. Fix anything broken. If there's a lot to fix, then focus on the fixes that show. Paint the ceiling if you have a lot of stains. Scrape and repaint the exterior if the paint is peeling. Is it a lot of work? It can be. But consider the thousands of dollars you'll get if those things are done. I'll come over to help you to determine where put your money and effort.
    
3. Replace corroded or out of date faucets and lighting in the bathrooms and kitchen. Even if you can't afford to remodel the whole bathroom or kitchen, just replacing a few fixtures can make the place look more updated.
    
4. Paint the interior walls if they're dingy. While some conventional wisdom says to paint them white or off-white, I like a splash of muted color. Don't be afraid to go with a light tan or pale green on one or two walls. Make sure you fill any holes left over from picture hangers. However, avoid light blue. Buyers either love it or hate it.