Robert Magda: May 2016

Tuesday, May 31, 2016

Facts About Using a Co-Signer on a Mortgage

Do you need a co-signer to buy a home? To help you decide, let's review the reasons you might use a co-signer, the types of co-signers, and the various requirements lenders have for allowing co-signers.

When to use a co-signer

A common scenario is young people just starting out in their careers use parents as co-signers while they're ramping up their income. Other lesser-known but still common scenarios include:

Divorcees use co-signers to help qualify for a home they're taking over from ex-spouses.
People taking career time off to go back to school use co-signers to help during this transitional phase.
Self-employed borrowers whose tax returns don't fully reflect their actual income use co-signers to bridge the gap.

Before using a co-signer, make sure all parties are clear on the end game. Will you ever be able to afford the home on your own? Is the co-signer expecting to retain an ownership percentage of the home?

Types of co-signers

There are two main types of co-signers: those that will live in the home, and those that will not. Lenders refer to these as occupant co-borrowers and non-occupant co-borrowers, respectively.

Non-occupant co-borrowers are the more common category for co-signers, so the lender requirements summarized below are for non-occupant co-borrowers.
Occupant co-borrowers who are co-signing on a new home can expect lenders to scrutinize the location and cost of their current home, and should also expect post-closing occupancy checks to verify they've actually moved into the new home.

Ownership considerations for co-signers

Lenders require that anyone on the loan must also be on the title to the home, so a co-signer will be considered an owner of the home.

If borrowers take title as joint tenants, the occupant and non-occupant co-borrowers will each have equal ownership shares to the property.

If borrowers take title as tenants in common, the occupant and non-occupant co-borrowers can define their individual ownership shares to the property.

Financial considerations for co-signers

Lenders allow occupant and non-occupant co-borrowers to have different ownership shares in the property because the Note (which is the contract for the loan) makes them both equally liable for the loan.

This means that if an occupant co-borrower is late on the mortgage, this will hurt their credit and the non-occupant co-borrower's (aka the co-signer's) credit.

Another co-signer risk is that the co-signed mortgage will often count against them when qualifying for personal, auto, business, and student loans in the future. But the co-signed mortgage can sometimes be excluded from future mortgage loan qualification calculations if the co-signer can provide documentation to prove two things to their new mortgage lender:

The occupant co-borrower has been making the full mortgage payments on the co-signed loan for at least 12 months.
There is no history of late payments on the co-signed loan.

Lender requirements for co-signers

Occupant co-borrowers must have skin in the game when using a co-signer, and lender rules vary based on loan type and down payment. Below are common lender requirements for co-signers. This list isn't all-inclusive, and conditions vary by borrower, so find a local lender to advise on your situation.

For conforming loans (up to $417,000, and high-balance conforming loans up to $625,500 by county), Fannie Mae and Freddie Mac will allow for the debt-to-income ratio (DTI) to be calculated by simply combining the incomes of the occupant and non-occupant co-borrower. This is known as a "blended ratio," and is especially helpful when the co-signer has most of the income.
Conforming loans will require at least a five-percent down payment to allow a co-signer.
For conforming loans with less than 20 percent down, lenders will require at least five percent of the down payment come from the occupant co-borrower. Flexible programs like Fannie Mae HomeReady loan allow blended ratios for co-signers, and go further by allowing income of people who won't even be on the loan but that will verify in writing that they'll be living in the home with you for at least 12 months.
Some jumbo loans above $417,000 (or above the conforming high-balance limit by county) will allow blended ratios for qualifying with co-signers. Your lender will advise based on your down payment, reserves left over after the loan closes, loan amount, credit score, and other components of your profile.
Many jumbo loans allow for the occupant co-borrower's DTI to go as high as 50 percent when using a co-signer, but in most of these cases, at least 10 percent of the down payment must come from the occupant co-borrower.
Select jumbo loans allow for the occupant co-borrower's DTI to go as high as 75 percent when using a co-signer, but there will be many other requirements, and the rates won't be as competitive.

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Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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Zillow Hosts Tech Volunteer Fair

On Thursday May 19, Zillow hosted the first ever #SeaTech4Change tech volunteer fair. I had the idea for this event after observing how so many local nonprofits have such scarce budgets for technology, design and marketing work — coupled with large needs for help in these areas. And, when I get on my frequent soap box about the responsibility and opportunity for the tech community to help drive social good, the obvious question I get asked is: How?

So the idea behind the tech volunteer fair was to make connections between the local nonprofit and tech communities, in order to create skill-based volunteering opportunities where they are needed most.

To say I was moved by the event would be an understatement. While the idea was exciting, nothing could have prepared me for the incredible energy in the room that evening. There was a great turnout of local developers, designers and marketers who genuinely wanted to better their community. Add to that a fantastic representation of nonprofits from across different focus areas, who spend every day making our community better, and who were eager to get help with specific tech projects. I saw many meaningful connections being made, and heard so much enthusiasm from both sides.

The tech volunteer fair was of course just the first step in getting these important projects completed. Now the nonprofits are coordinating with the volunteers they met to kick off the work they plan to do together. I asked everyone to share their progress via the #SeaTechForChange hashtag on Twitter, and am excited to follow along with their accomplishments.

Photos from the event, links to articles and organizations and the opportunity for nonprofits and volunteers to sign up for future events, can all be found at seatech4change.org. I would love to keep the momentum from #SeaTech4Change going, as I feel strongly that the Seattle tech community can make a large and lasting impact on the issues that so many nonprofits are tackling everyday.

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Friday, May 27, 2016

Quiz: Are You a Savvy Mortgage Shopper?

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My Favorite Tips for Drought-Tolerant Landscaping

Here in California, where my husband Tarek and I do most of our house flipping, we always have to think about the weather when we plan our landscaping. We never want to spend money on landscaping that'll look great for a week and then wither and die if it doesn’t get a ton of watering and maintenance.

With the ongoing drought in our area, I've been thinking a lot lately about landscaping designs that don't need much watering but can create a cool, low-maintenance, high-curb-appeal look for buyers. Here are a few of my favorite tips.

Don't give them a golf course

First of all, buyers today aren't necessarily looking for homes with front yards that are covered in uniform grass, and that's good news for you as a house flipper. The golf course look takes a lot of watering and maintenance to keep up.

A front yard with less grass and more water-wise landscaping can save buyers money on their utility bills, and it can save them time on mowing, too. Not only that, but they won't have to worry about their lawns dying if their area is under a water restriction.

Small changes can make a big difference

You don't have to completely get rid of grass or go with some crazy landscaping design that looks totally out there. Even the smallest water-saving changes can make a huge difference.

For example, plant a few water-conserving shrubs around the front of the house and in an island in the yard, then lay mulch around them so your buyers have less grass to mow. A stone garden can do the same - and it'll save even more water since rocks don't need any moisture.

Use water runoff for thirstier plants

Everyone loves to see greenery and blossoms in their yards, so I'm a huge fan of this particular tip. Take a look at the yard and find the places where you get the most water runoff. Do you have a low corner of the yard, or does the lawn slope down to the sidewalk?

Plant your shrubs and flowers here, surrounded by a bed of mulch or gravel. And be sure to group thirstier plants together in the lowest spaces so that they can soak up the most moisture.

Don't forget the architecture of the house

As you start to choose plants, mulch, gravel, and other details, don't forget about the design of the house itself. Choose landscaping elements that match the architecture of the house and highlight its features.

contemporary-exterior-of-home-with-rock-garden-i_g-IS-15a2az0hjae71-zQKBF

Courtesy of Zillow Digs.

You want to have a front walk and entryway that flow and draw people in, so you may want to plant a couple of bushes at each end of the walk or along each side leading up to the house. Landscaping details should create borders and edges along the walk, yard, and house to draw attention and make the property look cohesive and attractive.

Create a park-like backyard

Of course, your front yard won't be the only place you're landscaping. You also have to think about the backyard, and how you can make it really inviting to your buyers. People love having a park-like backyard where their kids can play, and they can have friends and family over on weekends and special occasions.

Courtesy of Zillow Digs.

You don't have to plant a bunch of water-thirsty trees and shrubs to get this effect, though. I'm a big fan of adding a patio and/or some hardscaping instead of traditional landscaping with plants.

For example, you could place a fire pit in the middle of a circular area where you lay gravel, then edge that gravel with bricks or flat stones. The effect is cozy and attractive, and it doesn't require any watering at all. Plus, it gives your buyers a place to gather and enjoy each others’ company.

Always think of families

Family is really important to me and Tarek, and not just because we have two great kids who we love to watch playing in the yard. We've created a space in our backyard that's a huge hit with our extended family when we have them over on Sundays.

When I worked with our landscapers to design our backyard, I considered shade and seating, space for the kids to play, and an overall aesthetic that's warm and inviting.

Courtesy of Zillow Digs.

You can do the same with your flip-house backyards if you consider a few important factors:

Where is the traffic in the yard?

Wherever you have people walking through a yard, you're going to have worn down, ugly grass unless you plan for that traffic. Look at the paths people will be using in the yard and create water-conserving landscaping solutions around them.

This could mean having a paved or gravel walkway from the back patio or deck to the fire pit. It could also mean planting sturdier, heartier grass in your high-traffic areas, then planting drought-tolerant decorative grasses, like Japanese bloodgrass, along each side.

Courtesy of Zillow Digs.

Will the buyers have pets in the backyard?

Next, consider how the yard will look if the buyers let their pets hang out in the yard on a regular basis. You can't predict whether someone's dog will dig holes all over the yard or not, but you can avoid choosing really delicate plants that will get ruined when the family cat decides to chew on them or take a nap on them.

Other animals in the area

Speaking of animals, your buyers' pets aren't the only ones to worry about. If the area where you're flipping in has moles, rabbits, deer, or other wildlife, you should take a minute to get to know what they eat and what they'll avoid. In a drought, these animals are going to come looking for food and water, which means you could be creating a haven for pests if you put in a water feature or a lot of thirsty plants.

Instead, do some research on plants that repel animals and bugs. For example, did you know that mosquitoes hate lavender? It's a beautiful plant with a sweet smell that most people like, but it's a natural pest deterrent. Sounds like something you might want to consider planting around the patio, doesn't it?

Consult a landscape architect, contractor or local garden center

You don't have to figure all of this out on your own. If you plan on having the pros do your landscaping, talk to your landscape architect or contractor about droughts, thirsty plants, and other factors.

If you're doing the landscaping on your own, ask the people who work at your local garden center for advice. They have a lot of knowledge about this kind of project, and they can help you make the right choices for attractive front- and backyards that won't guzzle a ton of water every week.

Good luck and happy landscaping!

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5 Tools Every Gardener Should Splurge On

I've both tried and disposed of a lot of garden tools over the years, but I only use a handful of unusual-looking ones. These chosen few are so handy that I rarely use a shovel, cultivator or string trimmer anymore. I hope they'll be just as useful for you.

DeWit serrated trowel

DeWit Garden Tools’ unique take on a common trowel is everything you could possibly want in a garden tool. Its comfortable handle is constructed of long-lasting ash wood, while the business end is nothing but solid hand-forged steel. The real beauty of this trowel is its sharp, serrated edge, which cleanly cuts through any roots or stems in its path.

Use it to rip out weeds, dig in congested soil, or even as a knife for dividing perennials. Of all my tools, this is the one that I carry everywhere.

Warren hoe

I bought this arrow-shaped variant of the common garden hoe on a whim, simply because it looked like it had to work - and it does. The pointed tip neatly rips out weeds in my vegetable garden without damaging my plants, and it makes nice furrows whenever I'm planting seeds.

The long handle makes it easy to reach into beds from outside, preventing soil compaction, muddy feet and a sore back. Mine is made by Union Tools and retails for about $22.

Fiskars clearing hook and billhook saw

Fiskars' new clearing hook and billhook saw have totally changed the way I do lawn work. Each resembles a serrated machete with a hooked end, and they’re unlike anything else on the market.

I use mine to clear out woody weeds with little more than a tug, to rip out weeds growing in the cracks of my driveway, to edge my lawn (it's a workout, but so rewarding), and to quickly break ground on new garden beds.

Each tool comes with a scabbard that conveniently fits over your belt, and it's a good thing. These things are hardcore, especially if you sharpen them first. The Fiskars clearing hook and billhook saw each retail for about $30.

Fiskars clearing machete

This machete has essentially replaced the weed-whacker in my lawn work routine since it makes short work of areas that my mower won't reach. Between the billhooks and machete, I've found myself using the string trimmer less and less.

Courtesy of Fiskars.

Like the other land-clearing tools from Fiskars, the machete comes with a durable scabbard for safekeeping. It's also useful for cutting back and harvesting sugar canes, bamboo, lemongrass, bananas and the other big tropical plants in my garden. For even bigger jobs, spring for the machete axe (approx. $55).

Pick mattock

I have a shovel, but haven't used it much since I bought a mattock. If you have to deal with tree roots, rocky soil or tough sod and weeds, do yourself a favor and buy a mattock before you exhaust yourself with a shovel or spade.

A mattock looks like a pickaxe and is used like one, but it has a flattened end that works like a garden hoe on steroids. Heaving a mattock takes a bit of upper body strength, but the tool is quite versatile once you get the hang of it.

Courtesy of Northern Tool + Equipment.

I even use the flat end to pull up weeds with long runners - both fragile ones like those of the dollarweed, or brutes like those of the torpedo grass that once filled my vegetable garden. The brand name of my mattock has long since faded from the hardwood handle, but if you're purchasing your own, look for one made from forged steel and hardwood.

Flexzilla Water Colors hose

While hoses wouldn't normally be considered garden tools, hear me out. Cheap, kinky and leaky hoses cost more in the long run, and make watering chores a major hassle. Take it from someone who accidentally leaves the water on and leaves his hoses outside all year.

At the time of writing, the only working hoses in my garden are Flexzilla hoses, because every other one has broken by now. The best ones are from the P. Allen Smith Water Colors Collection and cost about $75 (steep, but it’s money well-spent).

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Courtesy of P. Allen Smith.

Ignore the pretty colors – they'll fade in time. Get this premium rubber hose because its kink-free, drinking water safe and even has a rugged swiveling grip to make watering easier.

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House of the Week: A 216-Year-Old Bridgehampton Estate

Affectionately known as the Whale House, this classic Bridgehampton treasure offers a great deal of history and an elegant summer home or year-round escape. Originally built in 1800, the updated and expanded estate sits on just under three acres and encompasses 6 bedrooms, 4.5 baths and 4,559 square feet — all for a listing price of $7.995 million.

Clad in wood shingle siding that offers a gentle nod to the past, this dwelling occupies the peaceful grounds of a one-time farming community.

The stately, open kitchen is a charmed space to host family meals, with exposed beams, a kitchen island and direct access to a cozy living area complete with a fireplace. The home’s old plank wood flooring remains, and several rooms boast personal fireplaces and bold wood fixtures, while arched ceilings provide a cathedral feel.

Skip Lynch, one of the co-owners, says his fondest memories are of spending time there with loved ones. “It’s been in the family a long time, since 1945,” he said. “There’s a great tranquility about the house. Many people think the house has healing properties, and it is a great spot to be. It was the source of many great outdoor activities.”

Along with plentiful outdoor space and many odes to Bridgehampton’s past, the property was the site of many family gatherings and boasts a summer cottage. Lynch notes that he will “miss the space and the light.” Growing up, “it was a wonderland — beaches to swim in, open space.”

Offering various places to delight in nature as well as calm spaces to enjoy the sea-salt air, this estate provides a great opportunity to merge the excitement of the future with the delights of the past.

The listing agent is Barbara Brundige of Douglas Elliman Real Estate.

Photos courtesy of Douglas Elliman Real Estate

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Thursday, May 26, 2016

How to Create an Inspiring Outdoor Space

Summer is our favorite time of the year to work with clients. Whether we're curating an outdoor kitchen or styling a beautiful new deck, something about the warm weather makes us want to blur the lines between the indoors and outdoors with thoughtful design and fashion-forward functionality.

Here are some of our favorite ways to create an inspirational outdoor space this season.

The rooftop deck

Those of us who aren't blessed with the square footage to have a backyard, need to get clever to find other solutions. If you live in a townhouse or apartment in the big city, don't hole yourself up in the living room. Head to the roof!

Courtesy of Zillow Digs.

Rooftop decks are making a comeback with stylish sunproof fabrics and durable appliances perfect for an outdoor soiree or afternoon sipping cocktails. With a smaller area to work with, every detail counts, right down to the trim on the cushions.

Each piece should speak to your style, whether you're going for a Hamptons retreat or Miami Beach-inspired entertainment area. Make sure you have plenty of seating with umbrellas available for an afternoon siesta.

We love the way bright citrusy colors and patterns help brighten outdoor decks made of concrete or stone. Add a summery vibe with plenty of greenery potted in patterned vases, and flowers on every bistro table to greet your guests.

The California room

Here in California, we can't imagine a home without a space that easily transitions into the great outdoors. Enter the California room: a space perfectly situated just outside a sliding glass door with transitional elements like interior furnishings and exterior fabrics.

Courtesy of Zillow Digs.

This space usually consists of a small outdoor kitchen and dining area for nights when the weather is too beautiful not to enjoy. The California room is often home to an entertainment center like a television for the big game, or speakers to enjoy relaxing music.

The key to creating the perfect California room is to keep it fluid. Use gauzy curtains and outdoor fabrics to maintain a soft vibe while also adding elements usually found indoors like couches, chaise lounges, and coffee tables for an interior-inspired look.

The outdoor kitchen

Last but certainly not least, the outdoor kitchen is the epitome of an inspired space. Whether you're enjoying a dinner for two or a summer-themed fete, an outdoor kitchen is key to keeping your guests happy all evening long.

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Courtesy of Bruce Clodfelter & Associates

An outdoor kitchen usually consists of a few major components. First, you need a grill and complementary appliances. We love a great stainless steel grill with multiple features for when you'd rather serve fish than burgers, or vegetable skewers instead of tri-tip. Equally stylish and useful features could include a built-in wine fridge or drink cooler, a sink, and a food prep station.

Next, pick materials that are both durable and fashion-forward like stone and quartz to help make after-meal cleanup that much easier.

Finally, choose accessories that help create a dining area suitable for families and guests like placemats, centerpieces, and plenty of lighting.

What are some of your favorite ways to style your outdoor space?

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Set Up an Outdoor Dinner Party With a Beachy Vibe

Keeping it simple is the key to outdoor entertaining. Whether you’re working with a stylish backyard, small stoop, or roof deck, our dinner party features a few key pieces that work in any setting. Tasteful string lights, mellow table settings, and mismatched styles are perfect for entertaining al fresco.

String them along

Bulb-style bistro string lights above the table illuminate the scene, while two big Monstera leaves as a tropical centerpiece means no fuss over arranging flowers. The string lights bring an adult patio vibe to even the most casual of hangouts. On a small patio or balcony, go tall and string the lights up high to bring the eye up.

Table talk

Go for an outdoor table that can handle any weather, and choose long benches for flexible seating that lets pets and kids squeeze in. Casual entertaining allows people to pop by as they like, so stash an extra plate under each place setting and let guests take what they need and pass along to any unaccounted for plus-ones.

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Mix it up

Mixing gold and black cutlery keeps the informal feeling going because this should be fun, not stuffy. You can’t use enough color when you’re entertaining outside, so mix and match the plates, too. Acrylic glasses and multi-use trays are a perfect pairing for an outdoor dinner party.

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Wednesday, May 25, 2016

Homes for Sale with Glorious Gardens and Grounds

Spring is winding down, summer is creeping closer, and it’s the time when we hope the old rhyme “April showers bring May flowers” rings true. We trade our umbrellas for sunglasses, and savor the natural environment that lies outside our doorsteps.

Beauty exists everywhere in nature, and coupled with our creativity, we can create spaces that are both expressive and functional. Check out these 10 dreamy garden spaces, all belonging to homes for sale across the country.

Santa Barbara, CA

660 Hot Springs Rd, Santa Barbara, CA
For sale: $10.65 million

On the market for the first time in 45 years, this 4-acre garden estate in the heart of Montecito is a rare opportunity for a passionate gardening enthusiast. In addition to the magnificent, manicured gardens, the estate includes a gardener’s cottage and a greenhouse. This estate is home to the Magnolia House, a 5-bedroom, 4-bathroom home that presents effortless, indoor/outdoor living, with the expansive living room flowing to an 80-foot covered veranda overlooking the pool gardens and ocean.

See more homes for sale in Santa Barbara.

Austin, TX

4433 River Garden Trl, Austin, TX
For sale: $14.9 million

Perched on a hilltop and enveloped by lush foliage, this 7-bedroom, 13-bathroom chateau offers breathtaking views of Lake Austin and the city skyline. Stone pathways link beautifully manicured gardens, a putting green, and a stunning patio complete with infinity pool and multi-level lounging areas.

See more listings in Austin.

Coral Gables, FL

10001 Fairchild Way Rd, Coral Gables, FL
For sale: $6.75 million

Nestled in a resort-style setting in Snapper Creek, the 6-bedroom, 9-bathroom Grand Oak Estate features a mature oak canopy, embellished with lush plants and flowers, encompassing a blazing fire pit. In addition to a tropical pool pavilion, this Mediterranean makes outdoor living a breeze, thanks to two covered outdoor living rooms and an outdoor kitchen.

See more Coral Gables homes for sale.

Seattle, WA

4315 NE 33rd St, Seattle, WA
For sale: $3.485 million

Located in the beautiful Laurelhurst neighborhood, this historic 5-bedroom, 4-bathroom craftsman home lays claim to nearly half an acre of private gardens with a towering, covered veranda and wisteria-draped pergola. Bay views are offered throughout the grounds, and additional home features include a family recreational room with a bar, an artists studio, and a mother-in-law apartment.

See more homes for sale in Seattle.

Greenwich, CT

124 Old Mill Rd, Greenwich, CT
For sale: $25.75 million

Commissioned by a prosperous 1920s investment banker and WWI pilot, architect Charles Lewis Bowman created this majestic, 28-acre estate, presenting a 15-bedroom, 12-bathroom Elizabethan Tudor manor and enchanting James Doyle flower and maze gardens. In addition to boasting a terraced pool and tennis court, the estate is equestrian-ready, featuring a six-stall horse stable, extensive bridle trails, and a spring-fed lake.

See more Greenwich homes for sale.

Portland, OR

1837 SW Greenwood Rd, Portland, OR
For sale: $4.995 million

Built in 1922, the 6-bedroom, 6-bathroom Percy Smith Estate is nestled on almost 3 acres of beautiful Pacific Northwest land, possessing views of Mount Hood and a vast system of paths, garden areas, and hardscape designed by architect Craig Keist. Listed on the National Historic Registry, this English country home features impressive attention to detail, with embellishments like cherubs and gargoyles, colorful leaded glass, and a hand-carved Oregon fieldstone floor-to-ceiling fireplace lending to the home’s magical surroundings.

See more homes for sale in Portland.

Scottsdale, AZ

26905 N 98th Way, Scottsdale, AZ
For sale: $5.25 million

Built on the northwest side of Pinnacle Peak, this 4-bedroom, 7-bathroom hillside Estancia estate is designed to capture optimal panoramic golf course and mountain views. This Mediterranean-style oasis features courtyards, fountains, and balconies built with stone and marble, blending into the neutral desert tones while presenting vivid pops of vegetation.

See more Scottsdale homes for sale.

Villanova, PA

770 Godfrey Rd, Villanova, PA
For sale: $17.9 million

Built on Philadelphia’s Mainline in 1930, Albermarle is an astounding, 17-acre piece of Colonel Robert Montgomery’s legendary 750-acre estate, with many original details preserved, including a restored clock tower. Immaculately renovated throughout, this 8-bedroom, 13-bathroom country estate continues to be an equestrian center, featuring a stone barn, a party barn, guest houses, and massive manicured gardens.

See more homes for sale in Villanova.

Colorado Springs, CO

4915 Canyon Meadows Vw, Colorado Springs, CO
For sale: $3.35 million

Offering panoramic city and mountain views in the gated Broadmoor Resort community, this 2-acre residence features breathtaking outdoor spaces, with meticulously landscaped garden areas showcased against the backdrop of Colorado’s natural splendor. The 4-bedroom, 8-bathroom residence is impressive in its own right, designed with a spectacular marble-columned entry and floor-to-ceiling windows with sprawling views.

See more listings in Colorado Springs.

New York, NY

38 Prince St, New York, NY
For sale: $25 million

Manhattan is known to possess impressive urban gardens, as the city’s elite create their ideal private spheres within the concrete jungle. This 7-bedroom, 9.5-bathroom townhouse in Manhattan’s Little Italy is no exception. In addition to this modern garden and outdoor kitchen area, this landmarked home features a stunning curved staircase, expansive gourmet kitchen, and preserved historic details.

See more Manhattan homes for sale.

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3 Must-Have Power Tools for Homeowners

Perhaps you’ve just purchased your first house and you’re looking forward to fixing things and making the home your own. Or maybe you’re a seasoned homeowner, but you want to start doing things around the house and making repairs yourself, rather than hiring someone to do them for you. If this sounds like you, then congratulations! You’re on the way to becoming a DIY-er.

The question is, how do you begin stocking your DIY toolbox? The huge selection of power tools at your local home improvement store can be overwhelming. And you could easily spend thousands of dollars on tools that you might not need at first.

To help you get started, here are three power tools every homeowner should have in their toolbox. These three versatile tools will get you on your way to doing your own home improvement tasks in no time at all.

Cordless drill

The cordless power drill is the true workhorse of a homeowner's tool box. Not only is it a drill, but with a quick bit replacement, your drill will also fill in as a screwdriver and paint or joint compound mixer.

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Purchasing guide:

Comfort. When you’re shopping for a drill, hold several different models in your hand, and decide which feels the most comfortable. Try to imagine what it might feel like after an hour or more of use.
Power. For the average person who will be using their drill to do home improvement projects around the house, 12 to 18 volts is sufficient.
Features. You’ll want a drill with a variable speed feature, because it will allow you to drill through different materials at different speeds. For example, when drilling through metal, you will need to drill at much lower speed than if you were drill through wood. Additional features such as an LED light or a built-in level are nice to have, but not absolutely necessary.

Circular saw

A circular saw is the best tool for making straight cuts in wood quickly. It is indispensable for any type of project that involves building things with wood. Whether you need to just cut a few 2 x 4's or you’re working on a large project such as a deck, you’ll need to own a circular saw.

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Purchasing guide:

Size. Choose a circular saw that is a size you can easily handle. Some of the corded models can be rather heavy; however, the battery-operated types are often lighter and easier to maneuver.
Blades. Make certain that the blades you purchase are compatible with your particular type of saw. Blades are available in a variety of types, but for general purposes you’ll want to purchase a carbide-tipped circular saw blade.

Electric oscillating multi-tool

The value of a multi-tool is that it can get into the small spaces a larger power tool can’t go. For example, you can use it for removing caulk or grout, sanding small items, or cutting pipe in awkward locations, just to name a few uses. When you encounter an odd situation in your home, such as a tight corner that you need to get into, your oscillating tool will be there to save the day.

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Purchasing guide:

Price. You can get one of these handy tools for about $30 at the low end, or up to $130 for a model with all the bells and whistles. In this case, more expensive might not be better, so do your research on brands and models that look good to you.
Comfort. As with power drills, how the tool feels in your hand is very important. Turn on the tool in the store while you’re holding it, because some models will have more vibration than others.

With these three power tools in your home toolbox, you’ll be equipped to tackle a wide variety of home improvement projects, and feel the pride and sense of accomplishment of completing them yourself.

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