Knowledge

As everyone settles into their homes to ride out the COVID-19 pandemic, their energy bills will jump, perhaps even skyrocket. But there are some simple things that homeowners can do to curb their costs, particularly as electronics and lights are used .

Sense, a company that offers home energy monitoring solutions, offers up the following five ways to save money on energy costs at home during this time.

1. Turn off electronics when not in use.

Keeping gadgets on constantly will add to your electricity bill. Consumer electronics and common devices can account for 23% of the average electricity bill—or about $322 annually, according to Sense. Turn off devices that aren’t in use. Place printers, PCs, laptops, home entertainment equipment, and gaming

NewMexicoHomeSearch.com is home search and lifestyle website designed specifically with New Mexico homeowners, home buyers and home sellers in mind. By partnering with New Mexico True and MLS’ around the state, we provide the most accurate and extensive source for property listings and value-added advice for living in New Mexico. Through the site, not only will you find the perfect home, you can find a local Realtor that could be your perfect match.

Find homes all around New Mexico! Download the mobile application below!

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Find homes all around New Mexico! Download the mobile application below!

Google Play Store | Apple App Store

Here’s the scoop on what’s tax deductible when buying a house.

The answer to whether closing costs are tax deductible -- or mortgage interest and property taxes for that matter -- is, maddeningly, “It depends."

Basically, you'll want to itemize if you have deductions totaling more than the standard deduction, which is $12,200 for single people and $24,400 for married couples filing jointly. Every taxpayer gets this deduction, homeowner or not. And most people take it because their actual itemized deductions are less than the standard amount.

But should you take it?

To decide, you need to know what's tax deductible when buying or owning a house. Here's the list of possible deductions:

Closing Costs

The one-time home purchase costs

Real estate negotiation tips so you can buy your dream home — and not overpay.

You've looked at enough houses to fill an entire season of House Hunters and finally picked one to buy. Now you're ready to make an offer.

Your agent can help guide you through this nail-biting phase of negotiating a house price, but ultimately, you call the shots. Here's how to negotiate like a boss.

Fail #1: Thinking House Price is All That Matters

That house with a price point $15k below your budget? It may seem like a deal — until you add on the costs of maintenance and replacing the aging appliances.

Planning on repainting, remodeling, or landscaping, too? Suddenly the price looks a whole lot higher.

When developing your offer, calculate in the costs that

Sometimes trying to save will actually cost you more. Here’s when that happens.

You've got all the loyalty apps (free burrito after you buy 10!), you shopped around for the lowest rate on your mortgage, and you never go to the grocery store when you're hungry. You're frugal, and the rising amount in your savings account is a testament to that.

Since saving cash is never a bad thing, you've got nothing to worry about, right?

Unless, of course, you venture so far past frugality you enter the world of cheap. And cheap homeowners always end up paying more in the end when quick fixes and half-solved issues become big, pricey problems. 

Here are six things homeowners do when they're trying to be frugal, but instead they're really being cheap

Tax changes for 2019 change the landscape for homeowners.

Tax season is upon us once again, and to make it even more interesting this year, the tax code has changed — along with the rules about tax deductions for homeowners. The biggest change? Many homeowners who used to write off their property taxes and the interest they pay their mortgage will no longer be able to.

Stay calm. This doesn’t automatically mean your taxes are going up. Here’s a roundup of the rules that will affect homeowners — and how big of a change to expect.

Standard Deduction: Big Change

The standard deduction, that amount everyone gets, whether they have actual deductions or not, nearly doubled under the new law. It’s now $24,000 for married, joint-filing couples (up

A messy environment is actually good for your psyche.

Breaking news: Humans like stuff. Stuff they have. Stuff they like. Stuff they need.

But stuff just gets everywhere. Hence the trendiness of uber-organized spaces, hyper-cleanliness, and Marie Kondo-like thank-your-stuff-for-its-service-then-toss-it attitudes. But living in that state of constant tidying is exhausting.

Enough.

It is not a moral failing to have a slightly cluttered home.

And you know what? Life can be better with slightly more stuff. Here are seven reasons why:

#1 A Messy Environment Is a More Creative One

Being too tidy will stifle your imagination. Science says so.

There’s a lot of research showing messy surroundings encourage you to break the rules of

Refacing kitchen cabinets might be “superficial,” but the results and savings are dramatic.

Refacing your kitchen cabinets includes covering the exposed frames with a thin veneer of real wood or plastic laminate.

Doors and drawer fronts are replaced to match or complement the new veneer. New hinges, knobs, pulls, and molding complete the transformation.

What are the Pros and Cons?

Kitchen cabinet refacing pros:

• Costs about half as much as replacing cabinets.
• Takes less time (a week or less!) and money.
• It’s less hassle than tearing out cabinets.
• You can still use your kitchen while refacing.
• It’s a green kitchen remodeling solution because you’re not adding to the landfill.

Kitchen cabinet refacing cons (there aren’t

Private mortgage insurance is unavoidable for some homeowners, but don’t pay PMI premiums a day longer than required by your lender.

#1 Home Inspection

A home inspection helps protect you from purchasing a home that could be a lemon. So you don’t want to forgo it. 

REALTOR® Tip: Your inspector isn’t required to be an expert in everything. If you suspect termites, asbestos, and foundational issues, for instance, you’ll need to hire a specialist.

 Inspectors will look for signs of structural issues, mold, and leaks; assess the condition of the roof, gutters, water heater, heating and cooling system; and more. Inspections cost between $300 and $500, and whether or not you end up purchasing the property, you still need to pay this fee. 

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