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The pandemic has had a major impact on real estate. More Americans are deciding to enter the housing market and buy their first homes. However, buying a home requires a down payment, which can be as much as 20 percent of the purchase price. That’s a sizable amount! If you haven’t been saving for years, then you may not have the funds to go house hunting right now. However – there are some unusual ways to find money for you down payment that don’t require squirreling away a few dollars here and there over many months. Here are some interesting ways that you can quickly find the money you need for the down payment on your new home.

Down payment assistance programs

Programs are available to help first-time homebuyers make their down payments. These are usually offered on a state or local level and will vary by location. In many cases, nonprofits will partner will banks to provide these types of programs. You’ll need to meet the requirements to apply, and eligibility is often based on income. Search online for opportunities that are available in your area.

Federally backed home loans

For those who may struggle to come up with a large down payment, it’s worth it to check into federally backed home loans. These are loans that are guaranteed by the federal government, and the down payment requirements are significantly less than those for a conventional loan. For example, if you qualify for an FHA loan, you may only end up paying 3.5 percent down for your home. Some loans, like VA loans and USDA loans, may require no down payment at all. Check these programs to see if you meet the qualifications.

Ask about job-related housing programs

You may be surprised to learn that many companies offer assistance to employees who are purchasing a home. These types of programs are offered as incentives to employees to help retain them and prevent frequent turnover. They are common at universities and hospitals, and may be available to you as well. Your employer may provide a down payment grant or loan that is forgiven over the term of your employment.

Withdraw money from your IRA

Another way to quickly come up with money for a down payment is to withdraw funds from your ira. This only applies to first-time homeowners and there are limits to how much you can withdraw. This withdrawal is also taxable, but you don’t have to repay what you take out.

Withdraw money from your 401(k)

You can also withdraw money from your 401(k) to use for your down payment. But be aware that you’ll get hit with a 10 percent penalty for withdrawing the money early. You’ll also need to repay the money over five years (less if you leave your job). While this is a quick way to get cash fast, it has its downsides. Talk with your financial advisor or visit thewealthbuilder.club for pension IRA advice if you’re wondering if this is the right move for you.

Ask for a gift

Did you know your down payment can come in the form of a gift? You can pay your down payment with a gift of money from a family member or close friend, but there are strict guidelines and procedures that must be followed. If you’re lucky enough to have Santa bring you a down payment for Christmas, then make sure you know exactly how to handle the transaction so you can use those funds for your home purchase.

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The architectural style of a home is often highlighted in its online description to help buyers understand its features. But if you don’t know your Tudor from your Craftsmen Bungalow, don’t worry. We can help you sort it out with this condensed “cheat sheet” designed to help you determine what style of house you want or what type you’re currently trying to sell to potential buyers.

Cape Cod
Popular in the 1930s, Cape Cod homes are usually one-story houses with wood siding, a steep roofline either from its initial construction or added in later via a roof replacement, multi-pane windows and hardwood floors. While most Cape Cod homes are fairly small, many have dormer windows and often these upstairs spaces can be finished or remodeled to give you more square footage or storage space, just keep in mind to contact stainless steel handrails Melbourne to get a resistible handrail for your home.

Colonial
Colonial is the most popular style of home in the United States and typically has two to three stories, brick or wood exterior, and a fireplace, with the kitchen and family room on the first level and bedrooms upstairs. If the house is symmetrical and has evenly spaced shuttered windows, there’s a good chance it’s a Colonial.

Craftsmen
This type of house became popular during the Arts and Crafts Movement, when the focus was on natural materials like wood, brick and stone. Known for their charming front porches and open floor-plans, Craftsmen homes also tend to have fireplaces, plenty of woodwork and built-in shelves and seats, exposed beams, and decorative braces under the gables. Craftsmen homes also have unfinished but useable space in the attic.

Tudor
The name sounds like it’s derived from the Tudor Dynasty, but today’s Tudor houses are a more modern take on the late Medieval English style. You’ll be able to spot a Tudor easily because of its incredibly steep roofline, narrow windows and half-timbers made by custom timber furniture Melbourne for decorative effect.

Victorian
Named for Queen Victoria, this style originated in the 1800s and is all about beauty, sometimes at the expense of functionality. Victorian homes tend to be asymmetrical, ornate, and feature multiple rooflines, a front porch, bay windows and patterned shingles. This romantic style also spawned other similar styles such as Queen Anne, Romanesque and Gothic Revival.

Federal
Often called the first pure American style of architecture, the Federal style home is almost always made of brick and has a high, impressive façade with tall windows placed symmetrically on either side of the front door. Look for the fan-shaped, semi-circular window that usually sits atop the front door. Make sure to hire a residential window installation company for this one as they can perform the installation as efficiently and seamlessly as possible.

Country French
France occupied a large part of eastern North America during the 18th the Country French architectural style originated. Country French homes have steep rooflines which you can view here, paired with shutters, stucco walls and are typically one story. Look for French double doors and rustic design elements throughout this style of home.

Ranch
This style developed as builders imitated Western ranches. These more modern homes feature open floor plans with easy access to the outdoors. First seen in the 1930s, the popularity of this style exploded during the building boom of the 1950s and 1960s in American suburbs. It’s a great choice for buyers who want to upgrade or expand with a home addition. According to the architects we hired at https://www.archute.com, this style of architecture is perfectly suited for snowy and rainy climates.

For more information about the different architectural styles in our area, please contact me.

Raise your hand if you know someone who bought a home this year. The real estate market is hot, and it’s quite likely that someone on your shopping list is a new homeowner. What better way to celebrate their accomplishment than getting them a holiday gift like these Limoge eggs here for their new home? Here are some of our favorite gifts for new homeowners this year.

Return address stamp

Buying a home gives you a sense of permanence in an otherwise impermanent world. You can help celebrate that by having it carved in stone – or at least rubber. A personalized rubber return address stamp is the perfect gift for a new homeowner. Not only does it reinforce their pride of ownership, but it also keeps them from having to write their new address over and over again.

New plant

Gardening has emerged as one of America’s favorite new hobbies because of the pandemic. New homeowners can get a jumpstart on the trend with a new plant. Plants instantly help a home feel cozier, and many of them help to clean the air. Another great option is to give them an indoor herb gardening kit so that they can have fresh herbs for cooking at their fingertips.

A painting of their new house

For a truly awe-inspiring gift, you can commission an artist to create a painting of their new house. This is a special way to commemorate their achievement and is something they can cherish for a lifetime, long after they move out of the home. There are many artists who specialize in this kind of gift, and you’re sure to find one that fits your budget and your gift recipient’s style.

Flower subscription

Who doesn’t love to have fresh flowers in their home? Having a bouquet of beautiful flowers can instantly make a house feel like a home. But you can up the ante by giving a flower subscription that will deliver fresh flowers to your loved one’s home on a monthly basis. This is definitely one of those gifts that keeps on giving!

Deluxe candles

When giving a gift to a new homeowner, it’s fun to give them things that they might not otherwise splurge on for themselves. That’s why a gift of a deluxe candle set can be so appreciated. We have to admit, there is something about burning an expensive candle that feels luxurious and decadent. So go ahead and spoil that new homeowner with a candle or two in their favorite scents!

Gift cards

Are you having trouble deciding just what to get the new homeowner on your list? Then a gift card may be the perfect answer. While some may worry that a gift card is too impersonal or generic, they can be very much appreciated by the recipient. There are so many unexpected expenses when moving into a new home, and having gift cards can help soften the blow. Consider giving gift cards to popular online retailers, home improvement stores, nearby restaurants that offer delivery or takeout, or even their local grocery store.

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This has been a year like no other. The pandemic has truly upended our lives, changed our routines, and made us miss the “before times”. But as we head into the holiday season, we think it’s important to acknowledge all the things we are thankful for – including our homes. Homeownership has always been part of the American Dream, and this year we think it’s more important than ever to articulate why our homes fill us with gratitude.

It brings us comfort

Having a home of our own brings us comfort like no other place can. We have the ability to stay warm and dry when it’s cold or rainy, or cool and comfortable during a heat wave. New boiler installation edinburgh is what you need before winter comes. We can cuddle up in our cozy bedrooms, prepare delicious meals in our kitchens, and veg out in front of the TV in our family rooms with our loved ones.

It provides safety

During times like these, safety and security are critical. Owning our homes gives us peace of mind. We know we are safe and that our homes help keep us healthy. And during the pandemic, homeowners have had added security by calling a rekeying service and even with the use of CARES Act, which allowed us to skip mortgage payments without penalty if needed.

It’s a place to work and play

This year, our homes have become a place to both work and play. They give us the space we need to work from home or to attend school online. But they also provide us with ways to relax and have fun, whether it’s a great backyard with residential custom pools or a quiet corner to enjoy a good book.

It’s personal

When you own a home, you can truly make it your own. Unlike rentals, which often come with restrictions on décor or renovations, you can completely personalize your home when you own it. Paint the walls, change the lighting, add a room, renovate the bath – the sky’s the limit!

It’s a place for celebrations

While we will not be gathering together this year, we look forward to all the celebrations we will have with friends, family, and loved ones in the coming years. There’s no better place to party than at home! Some of our fondest memories in our homes center around birthdays, anniversaries, and holidays. And even though we can’t be together in our homes with extended family and friends this year, we still look forward to our own intimate gatherings.

It builds wealth

Owning a home is one of the best ways to build wealth. When you rent, you never see that money again. But when you own your home, you are building equity with every mortgage payment and upgrade you make. You can use that home equity in many ways, from funding a child’s college tuition to making a down payment on your next home. While the real estate market may fluctuate up and down in the short term, it always gains in value over the long term. And we couldn’t be more thankful for that! So make sure you have everything you need to maintain your home, a great investment would be to keep your hvac system maintained regularly, so once you get an ac and boiler installation make sure to keep in touch with an hvac contractor for maintenance. Visit https://www.freeboilergrantscheme.co.uk/ today for your free boiler!

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You’ve probably heard that the housing market is doing well despite the pandemic. Are you one of the many Americans thinking about buying a home in 2021? Now is a great time to buy a house. With record-low interest rates, you can score a great deal. But there are steps you should take to make sure you get the home of your dreams with as few problems as possible. This is what you need to know.

Get a copy of your credit report

Lenders will be looking closely at your financial history when it comes time to apply for a mortgage. Before you begin your home search, get a copy of your credit report. If you find any errors, then take the necessary steps to have them removed. If your credit score isn’t as high as you would like it, then work on improving it before you begin contacting lenders.

Save money for your down payment

One of the biggest challenges in buying a home is saving for the down payment. If you take out a conventional loan, you can pay as much as 20 percent or more for the down payment. Government-backed loans require a much smaller deposit – some even require zero down – but you must meet strict guidelines to qualify. Start saving now for your down payment if you haven’t already. The more money you can put down for a home, the better your loan terms will be.

Know what you can afford

Don’t start looking for homes before you understand how much you can afford. There’s nothing worse than struggling to make your mortgage payment each month. There are many online calculators available that can help you determine how much house you can afford. This way, you can tailor your search to make sure you’re looking at homes that are within your means.

Get clear about what you’re looking for

Once you start shopping for a home, the choices can be a little overwhelming. For this reason, you should make a list of what you’re looking for in a home before you begin your search. Include things you know you must have, such as the location or the number of bedrooms. You can also include things that would be nice to have but aren’t deal breakers like a backyard pool or a home gym. Knowing what you want will make it easy to act once you find the home that fits your needs.

Shop around and get pre-approved for a mortgage

Mortgages are just like any other big expense in that you should shop around for the best deal. Ask about interest rates, closing costs, and fees. Once you’ve found a mortgage you’re happy with, get pre-approved for your loan. Buyers are entering a competitive market, and if you want your offer to be taken seriously, you need to be pre-approved.

Work with a professional

Finally, the best way to ensure success with your home purchase is to work with a professional real estate agent. This is especially true if you’re a first-time homebuyer. It’s also shocking the number of defects that are seen in new-build properties, so if you’re buying one then be sure to hire a quality snagging surveyor as they can locate all of those, so that you can get them fixed before you buy. Check out their website at https://snagging-surveys.co.uk/. You may ask for an architectural visualization so you’ll know what to expect. An agent who is an expert in your market can offer invaluable advice and help you close on the home you’ve always dreamed about!

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Spring and summer are usually the busiest seasons in the housing market. But when our lockdowns began happening in March, many Americans decided to hold off on selling their homes. As we learned how to negotiate this “new normal”, buyers came back to the market in droves – and they keep coming. In fact, while fall and winter are usually slow seasons, this year is shaping up to be totally different. So the question remains – should you sell your home this winter? Then if you are looking to sell property then you need to make sure you get the best agent as they will always get the best price for you. We used a local agent who were easily the best estate agents Bristol has so if you are selling property around there then give them a look as they were amazing.

There’s a shortage of homes for sale

One big factor when considering whether or not to sell your home is to look at the competition. If there are many homes on the market, then you’re going to be competing against all those other homes. But this year, we’re seeing record-low levels of inventory. Sellers have not returned to the market at the same rate that buyers have. This means you’ll have less competition, and it will be easier for your home to stand out. That’s definitely a plus.

There’s strong demand

As we stated above, buyers have been flocking to the market. Historically low interest rates and a need for more space have encouraged more Americans to shop for homes right now. When demand from buyers is high and there is a shortage of inventory that means we’re in a seller’s market. The best time to find a buyer that pays cash for homes is in a seller’s market.

Current homeowners want to upsize

Many first-time homebuyers are entering the market, looking to get away from urban centers and city living. But it’s not just first-time buyers that are getting into the market. Record low interest rates make upsizing much more attractive to current homeowners. By using legal & general equity release in their homes, they can buy larger, more expensive homes and still make the same monthly payments.

Home values are going up

You want to sell your home when you know you’re going to get a good price. Well, the good news is that home prices are continuing to rise. And experts predict that home prices will keep rising for the foreseeable future. If you know that you’ll get a good return on your investment, then it can be an excellent time to sell. To further maximize your home’s resale value, you should look into the parts of your home that need fixing. For instance, residential roof leak repairs are recommended if there are damages on your roof. Any potential buyer will be concerned with security, so make sure you that you hire residential lock repair professionals to make sure all locks in the home are in good condition.

People are still isolating

According to the experts, we may likely see a second wave of the pandemic in the fall and winter months. While we’ve had the summer to enjoy ourselves outdoors, in many places in America winter is a time to stay inside. Those who are working from home or going to school online need more indoor space. The need for more space during isolation is fueling the market, making this winter a great season to list.

It’s easier than ever to sell your home virtually

Finally, you don’t have to worry about germs when you sell your home this winter. It is easier than ever to sell your home virtually. Buyers have been browsing, touring, and even closing on homes from the comfort of their couches. This can give you the peace of mind you need if you’d like to sell this winter.

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Because of the pandemic, many Americans have decided they need more space at home. Urban dwellers are beginning to spread out into the suburbs and more rural areas, especially since many of us are now working from home. If you’re considering a move to the country, then have you looked into a USDA loan? Designed to help low- and middle-income buyers buy homes outside of cities, this type of loan could be a home run. Let’s take a closer look.

You don’t have to buy a farm

If you’re aware of USDA loans, then you may be under the misconception that it’s only for very rural homes and farms. But that isn’t actually the case. USDA loans can be used for homes outside of a city in an area with a population of up to 35,000. The USDA has a map on their website where you can check the eligibility of locations.

It’s not just for low-income buyers

Another misconception about USDA loans is that they are only for low-income buyers. While the USDA does provide direct housing loans for those with low incomes, they also provide guaranteed loans for those with higher incomes. In fact, they recently increased the income limits for borrowers to $90,300 for households that have up to four people. Households with five to eight people now have an income limit of $119,200.

You don’t have to be a first-time buyer

It’s not just first-time buyers that are eligible for USDA loans. The only stipulation is that you can only own one home at a time. So if you are selling your home, then you could qualify for a USDA loan on your next home purchase.

They’ve loosened the restrictions

Because of the pandemic, the USDA has made it easier to apply and qualify for a loan. Some borrowers may qualify to extend their certificate of eligibility, and the application has been streamlined and relaxed. Most borrowers will need a credit score of 640 or above.

You can get a great interest rate

One of the biggest perks of a USDA loan is that you can get a great interest rate. Even though interest rates for mortgages have hit historic lows, the rates for USDA loans are often even lower. In September, low-income borrowers could qualify for direct home loans with an interest rate of 2.5 percent.

They are inexpensive loans

One of the biggest challenges of buying a home is saving for the down payment. With a conventional home loan, you can be expected to pay as much as 20 percent – or more – for your down payment. With a USDA loan, you may qualify to pay nothing down and instead have the entire purchase price financed with the loan. Closing costs are usually lower, which can be a huge benefit for those who have been financially burdened because of the pandemic.

You must qualify

In order to get a USDA loan, you must meet certain requirements. To find out more about these types of loans, talk to your agent or visit the USDA website. If you’re considering a move to the suburbs or the country, then it’s definitely worth checking out this kind of loan.

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Presidential elections don’t just affect our country’s leadership. They can impact many aspects of our lives – including the housing market. Analysts will make many predictions over the coming weeks about how the election results will affect our economy. But one thing is for certain – the housing market will remain strong. These are the reasons we believe that confidence in the market will stay high in the coming weeks and months.

Interest rates remain at all-time lows

Interest rates on home loans continue to set records, and buyers can still score great deals on mortgages. Interest rates have a huge influence on the housing market. With rates this low, it’s unlikely that the election will impact whether or not Americans apply for home loans. In fact, Freddie Mac recently forecasted that mortgage interest rates would continue to stay low through the coming year.

Demand is still huge

Unlike almost every other sector of the economy, the housing market has surged as a result of the pandemic. There is still much pent-up demand for housing. Buyer demand is high across the country. Unfortunately, inventory of existing homes is still struggling to keep up with demand. This is another reason that it’s unlikely that the housing market will see much impact from the election. Because of the pandemic, Americans are looking for more space and many of them are entering the housing market for the first time or hoping to upgrade. This is especially true for Millennials, who were slow to enter the market until recently.

Prices are still climbing

Because of the lack of existing homes for sale, prices for real estate continue to climb. Many experts believe that home prices will continue to increase over the coming months, regardless of election results. With mortgage rates at all-time lows, homebuyers can afford to buy a more expensive house than they would otherwise be able to. And with fierce competition among buyers, sellers are finding that their homes are the subject of bidding wars, driving homes prices even higher.

History is on our side

While we can make predictions about the market by looking at current conditions, we can also look to the past to see how presidential elections have affected the housing market. According to a recent report by the Meyers Research Group, demand for homes does not decrease in a presidential election year. When examining the four-year cycle, they discovered that election years are actually the best years of the cycle. And it’s always important to remember that even though the housing market may fluctuate up and down in the short-term, real estate always increases in value over the long term. Even if this presidential election were to impact the housing market, the affects would be short term.

Should you let the election derail your plans?

Whether you’re buying or selling a home, you shouldn’t let the results of the presidential election derail your plans. Now is a great time to buy or sell a home, and experts forecast that the housing market will continue to remain strong in the coming year.

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Homebuilder confidence is at an all-time, despite the pandemic. With a shortage of inventory of existing homes, builders are constructing new homes to keep up with buyer demand, if you need some help from a trusted contractor, consider skirting board installation perth services. Are you one of the homebuyers that are considering purchasing a newly constructed home? Then these are the “must-haves” you should include whenever possible.

Smart thermostat

Keeping your home at the optimal temperature while still saving money on your energy bill can be a challenge. That’s why there’s no excuse not to install a smart thermostat. It’s easy to program a smart thermostat to heat up or cool down at specific times of the day, and many of them will learn your habits and adjust to your needs. While you may pay more upfront for a smart thermostat, it will save you money over time.

EV ready and heated garage

Electric cars are the trend of the future. Many vehicle manufacturers are rolling out electric versions of their cars, and they’re becoming more popular with consumers. While you can charge a car on a 110- or a 220-volt outlet, it’s more efficient to have a dedicated charging machine. Be sure that your garage will have enough electrical service to accommodate an electric vehicle in the future. And while you’re at it, make sure it’s heated, too, if you live in a cold climate. This is especially true if you want to use your garage as a workspace or home gym. For this, you would need an electrician to install the wiring. Visit callw3.com/service-areas/allen/ to see if they service your area.

Outdoor electrical outlets

More and more of us are using our outdoor spaces as additional living areas – especially during the pandemic. So, according to an Electrician, it would be incredibly helpful to have electrical contractors install multiple electrical outlets around your yard to accommodate lights, decorations, equipment, and even movie nights under the stars. Decatur electricians can do this for you if they service your area. You can visit website for more details.

Mudroom

We’ve all become hyper-aware of the germs we are potentially bringing into our homes. Having a mudroom helps to corral contaminants before they come into your home. They can be located near the front or back door and can include places to store coats, boots, sports equipment, and packages.

Laundry rooms near the bedrooms

Who doesn’t hate carting laundry baskets up and down the stairs? More and more new homes are including laundry rooms near the bedrooms so that putting clothes away is a breeze. They can be situated on the main floor near the master bedroom. If you also have bedrooms on the second floor, then you can have a small laundry closet up there as well.

Deep kitchen drawers

Are you tired of trying to find a lid to a pan in a deep, dark cabinet? You can eliminate this problem by installing deep drawers instead of cabinets. Deep drawers can fit plates and bowls as well as pots and pans. And they can be pulled out so you can easily see and reach their contents.

Accessible features

Finally, think about the future when you’re designing your new home. Including accessible features will make it much easier to age in place. This includes a main floor bedroom and bathroom, wide doorways to accommodate a walker or wheelchair, eliminating unnecessary stairs, and installing a rubber ramp at your main entrance. California Industrial Rubber Co. have rubber products that may help you in constructing that. But not everything is on this list because more budget-friendly must-haves can be found on https://www.platformsandladders.com/rolling-ladders?category=Cantilever.

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As we come to terms with the idea that we may be spending most of our time at home this winter, it’s going to change what we need from our homes. The desire for more space is driving buyers into the real estate market. As a seller, are you tapped into the kinds of upgrades and amenities they’re looking for? Here’s a look at which home improvements you should consider when you put your home on the market.

Functional working space

With so many of us working from home and going to school online, it’s a no-brainer that homebuyers are looking for functional working spaces. This includes private spaces where multiple people can be on calls or video conferences at the same time. If your home doesn’t already have a home office, then it’s time to think creatively. Are there areas in your home that could be converted or staged as working spaces? Guest bedrooms are the perfect spaces – especially since most of us won’t be having guests for the foreseeable future. You can also use dining rooms, basements, or even renovated closets.

Separate areas

Open concept homes have been popular for many years. But as we tire of spending time indoors, it’s become more important to have separate areas to retreat to for privacy. By creating more distinct areas, each area can have a different feel. It also makes it more difficult for sound to carry. You can carve out new spaces in your open concept home with pocket doors, room dividers, or even curtains hung from the ceiling.

Usable outdoor space

The prospect of spending an entire winter inside can be daunting. For those who live in temperate climates, now is the time to invest a little time and money in upgrades to outdoor spaces. This could include updating your landscape design, adding a deck, or installing a pool. if you have decided you would like to add a deck, contact with us. For those in colder climates, extend your outdoor season with patio heaters, a new fire pit, or an outdoor hot tub. Visit a nearby hot tub store if you’re planning to invest in a new hot tub. You can call for a hot tub electrician for this one.

A place to exercise

Exercise is more important than ever, but many people are opting out of their gym memberships for the duration of the pandemic. That’s why having a home gym or a place to work out at home is essential for many buyers. If you have a large space to stage a gym, such as a basement, this can be ideal. Seeing a barbell will be attractive to homebuyers who are into weight lifting. But simply having a corner where someone can fit a yoga mat or a stationary bike can also be attractive.

An updated laundry room

Finally, cleanliness is top of mind for everyone right now. Having a bright, clean space to do laundry is a high priority for many buyers. We’re washing our clothes more often after going out and cleaning our bedding frequently. Knowing that a laundry room is a space where we’ll spend more time over the winter, it’s important to make it look as nice as possible. This includes upgrading the floor, walls, window treatments and installing new lighting fixtures with the help of a licensed electrician. Be sure there is plenty of storage space for cleaning items and a place to hang laundry to dry.

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