6 skills every homeowner should know

By Robert Langston

Having a place to call your own can be exhilarating, but the joy of it can take another turn once something goes wrong, such as when a repair needs to be done. Of course, you will want to leave everything to the professionals to handle, but won’t it be cost-efficient if you knew how to handle one or two repairs?

Professional plumbers and electricians charge arm and leg to fix that pipe and those burnt cables. You have got to figure out how to fix these issues without hiring someone to do it.

Several people believe that when it comes to repair, it’s best to allow the professionals to handle it. True, but what if the issue is a minor one? Trust me, these professionals will still charge you the same amount as if the issue was a big one. You don’t have to call someone to always check the leak from below the bedroom window. Below are six skills you should know as a homeowner.

SIX HANDYMAN/WOMAN SKILLS YOU SHOULD HAVE

With a little patience, it’s possible to take on any maintenance issue yourself. Let’s get to those essential skills you should have.

1. Changing Air Filters

Air filters can get clogged and reduce the quality of air in the home. As a homeowner, you need to learn how to change these. For new constructions, consider changing the filters every three weeks due to the initial drywall dust. If you have allergies, consider changing it every two months.

2. Shutting Off Your Water Valve

Water is one of the leading causes of damages in the home, and it’s all due to the negligence of the homeowner. When there’s a water leak, the first thing to do is to shut off the water valve. Unfortunately, some homeowners don’t know what a water valve is let alone know how to shut it off.

You should ask your friend or someone with plumbing experience the position of the main water valve in the home.

3. Turning Off Your Gas

If you smell gas or suspect a gas leak, your first point of duty is to turn off the shut-off valve, which is usually located outside at the meter. Then, you can call the gas company for further evaluation.

4. Fixing a Running Toilet

Running toilets can be annoying in a variety of ways. First, it’s a waste of water, which will add to your bill. Second, it might flood your home and destroy your pieces of furniture and appliances. Common problems include the flapper or the chain. Run a quick check and fix the flapper.

5. Cleaning Clogged Gutters

Like running toilets, clogged gutters are also annoying. They can cause water to flow onto the wood trim and your house, which can result in a rot. You should clean the gutters twice a year if you have any hanging trees by suiting up and using a small garden shovel to clean the muck.

6. Caulking

Caulking is simple, but a lot of people still don’t know how to do it. Caulking seals leaks from the kitchen sinks and countertops. First, select the right caulk. It must be waterproof and flexible. Next, remove the old caulk with a utility knife. Cut the nozzle of the tube to your desired size and apply it on the leaking area. Ensure the surface is clean and dry.

These are basic skills you need to learn as a homeowner. Just because you haven’t picked a screwdriver or a hammer doesn’t mean you are not brainy enough to learn these skills. There are other ones, such as painting, tiling, electric, and carpentry. It pays to learn these skills and could help you in times when you will need to rely on yourself.

About The Power Is Now Media

The Power Is Now Media is an online multimedia company founded in 2009 by Eric L. Frazier, MBA, and is headquartered in Riverside, California. We are advocates for homeownership, wealth building, and financial literacy for low to moderate-income and minority communities. The Power Is Now Media corporate office is located at 3739 6th Street Riverside, CA 92501. Ph: 800-401-8994 Website: www.thepowerisnow.com.

References

https://www.biggerpockets.com/blog/handyman-skills https://www.google.com/amp/s/www.huffpost.com/entry/10-essential-skillsevery_b_10833424/amp

WHAT FIRST-TIME BUYERS SHOULD KNOW ABOUT TAX REFORM

Here’s what first-time buyers need to know about the Tax Cuts and Jobs Act that was signed into law December 2017.

MORTGAGE INTEREST DEDUCTION

• The new limit on deductible mortgage debt is $750,000, down from the previous $1 million. There are certain situations which may allow a home purchase to qualify for the $1 million, even if the home closes after Jan. 1, 2018. Talk to a tax professional to learn more.

• Interest paid on home equity loans is only deductible if the proceeds are used to substantially improve the residence.

• Interest remains deductible on second homes, but is subject to the $1 million/ $750,000 limits.

DEDUCTION FOR STATE AND LOCAL TAXES (SALT)

• Homeowners who itemize their tax returns can claim up to $10,000 total for state and local property taxes and income or sales taxes. This $10,000 limit applies for both single and married filers and is not indexed for inflation.

ST

MOVING EXPENSES

• Only members of the Armed Forces may deduct moving expenses.

HOUSING MARKET IMPACT

• Homes priced $500,000 and below will only be slightly impacted.

• C.A.R. estimates that 60 percent of first-time buyers will purchase a property priced below $500,000, and 80 percent will purchase a home priced below $750,000, so most first-time buyers will not feel the effect that tax reform exerts on home prices.

• The supply of available homes for sale also will be slightly impacted, as homeowners delay trading up/down to their next home. Overall, the California housing market is expected to see a decline of 0.3 percent in active listings in 2018 due to tax reform.

Disclaimer: This is not intended to provide legal or tax advice. Application of provisions to particular tax situations need to be discussed with an accountant, CPA, or tax attorney.