Moving into a New Home? Could Malloy Funding Be a Part of Your Next Move?

Since around mid-March to now, there is a good chance you have considered moving from your current home into something a little less expensive. That is because the coronavirus has devastated incomes and employment as well as health and peace-of-mind.

 

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In the wake of the disease, thousands have been forced to wait months for unemployment. Few people living from paycheck to paycheck have anything in savings that approaches what is actually needed to stay afloat.

Financial services like Malloy Lending are among the solutions to which people are turning in this time of financial crisis. One of the first and most obvious ways to reduce spending is to cut the mortgage or rent down to size. But as everyone knows, downsizing is expensive due to Leas termination fees, hefty deposits, and downpayment. If you pole your friends on social media, They will likely be a good source for advice on what to do and not do as you plan your next move. Here are some tips you might find helpful:

Consider Renting Rather Than Buying a New Home

Renting is not without up front investment. One typically has to pay a deposit plus the first month of rent. Sometimes it is first and last. In some places, it is common to pay as much as $4,000 to $5,000 in move-in fees. That is not money people typically have lying about.

62% of all Americans have less than $1,000 in savings. 44% of young adults 18 – 24 have nothing in their savings, and that is if they have a savings account at all, according to a GOBankingRates survey. That means to lower one’s rent might require increasing their debt in the form of a short-term loan. That is still a much better tradeoff than getting behind on mortgage and risking foreclosure or eviction.

The reason renting is better in a time of crisis is that it is a short-term solution that doesn’t lock you into a 30-year commitment. There is a good chance that things will be different at the end of a one-year lease. If not, you can always sign another year’s lease and wait it out. You can return to home-ownership when things stabilize. That is a sensible alternative to sticking with a monthly payment you can’t afford. Not only will you have to go into debt, you could do permanent damage to your credit score. So if you decide to move into something more affordable, consider renting temporarily.

Have a Garage Sale Before You Move

Entrepreneur says that garage and estate sales generates billions in sales annually drawing over 60 million shoppers. You don’t need 60 million people browsing your nicknacks to raise enough money to cover the cost of moving.

Even if you hire professional movers, you will benefit by doing a garage sale. First, you will likely raise enough money to cover most of the expenses. Second, you will have a smaller moving bill because you will have less to move. Getting rid of a few things that might be another person’s treasure is a win-win, especially for people about to make a move.

Do It Yourself

Assuming you are using a moving company, the average cost of a local move is over $1,100. An out of state move will be almost 5 times that amount. You can save a lot of money by doing as much of it yourself as possible.

There is always the possibility of property damage and loss when making a move. Check your homeowner’s or renter’s insurance to see if accidental damage while moving house is covered. You would be surprised at what is covered that you didn’t expect. So save as much money as you can by doing as much of the work as you can.

While cost is the main benefit, there are other good reasons for why you should go for a rental truck instead of calling a mover. Among those reasons are the fact that:

* You control the schedule.
* You know which items and boxes have to be handled with care.
* You reduce your coronavirus exposure by doing things yourself.

Moving is expensive and hard during the best of times. And these are far from the best of times. If moving is your best option, consider renting instead of buying, selling off what you don’t need, and doing as much of the job yourself as possible.

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A Quick Guide to Preventative Care for Your HVAC System

Are you planning on buying a new heating or cooling unit? Or does your years old HVAC system seem to be running just fine?

 

Either way, these systems require regular maintenance to keep them functioning. The purpose of preventative care is to keep these systems running smoothly through every season with no unexpected breakdowns. You want to be content that they are operating at maximum efficiency. You should schedule your preventative maintenance throughout the year, typically one in the spring for your cooling system and then once again in the fall to get your heating equipment up and running. These scheduled checks will also help you bring up any other issues that need to be assessed.

Why is Preventative Maintenance so Important?

Having trained technicians inspect and evaluate your HVAC system has many advantages, obviously. They can make an informed assessment of your unit and identify what parts need to be repaired or what parts will be fine with a little maintenance. Some of the reasons why a maintenance check is so important are:

Fewer Repairs

They can help you catch a problem with your unit before it becomes disastrous and much more expensive for you to fix. For example, if your system has a fraying belt, it could create strange noises. If this belt is replaced in time, you can avoid it from snapping and whipping around inside the system, damaging other parts. Thus, maintenance checks prevent future repairs and pay for themselves.

Keep Your Unit Working Safely

HVAC systems that are failing can become dangerous for your family as well. For instance, if the furnace in the unit develops a small crack in the heat exchanged column, strong carbon monoxide gas can be released, which is very poisonous. Similarly, these systems may eventually short-circuit, which can cause a fire. Staying on top of maintenance does the due diligence needed to keep your units working safely.

Longer Life

HVAC equipment like air conditioners and other furnaces operate efficiently with regular cleaning and service. Even if a small part starts to malfunction, it can lead to the entire system, eventually breaking down. Thus, regular preventative maintenance can add years to the lifespan of your equipment.

Lower Electric Bills

Even if your systems are running without any problem, a unit that has been neglected for a long time can lose its capability to work at the same level of efficiency it initially did. As this happens, the unit will start to use up more electricity to perform the same amount of cooling. Stay on top of maintenance and your energy bills will benefit too!

DIY Preventative Care Tips

The best part is that there are some small but effective maintenance tasks that you can easily do yourself regularly. They will help keep your system running smoothly until you need to call a professional. Some of these tasks include:

* Checking the filter of your unit every month. Some HVAC systems have an indicator light that reminds you to do so.

* Remove any debris that may have accumulated on outdoor units.

* Clean the outdoor unit when it becomes very dirty. You can hose it down easily.

* Make sure supply and return registers are not blocked by other furniture, drapes, rugs, etc.

* Install a programmable thermostat that can be programmed to change the temperature when you aren’t there or are sleeping.

* Ensure that your HVAC system is placed on level ground and is not tilted. If you have placed it on some padding, inspect it to see if they have moved.

* Eliminate any clogs, for example, the build-up of algae or mold in the system. You can do so by mixing bleach with a cup of water and pouring it down the condenser drain. It gets rid of any build-up that might have accumulated.

* Check your indoor units for any unusual noises or odors. These can be detected easily when the unit is being started. Any such signs usually mean that it is time to call the technician.

* Inspect the fan blades of your unit every other month. Check them when they are moving and when they are stationary to detect any signs of wear and tear.

Preventative Maintenance Tasks You Should Leave to the Professionals

However, it is important to realize that you cannot perform an entire maintenance service yourself. It requires specific knowledge, tools, and expertise that only trained technicians can provide. For example, the inspection of all-electric terminals, duct systems, dampers, heat strips, motors bearings, and piping requires you to be extremely careful; otherwise, it could damage the whole system. They will ensure that they provide the most qualified assistance and repair your system so that you can be worry-free.

A thorough check can help you save on a lot of high future costs. Preventative maintenance for your HVAC systems needs to be taken seriously to help cut back on bills, protect your family, and prevent a major breakdown. So find your local HVAC techs, schedule your service today and enjoy an effective, efficient HVAC for months to come.

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