Robert Magda: December 2019

For many people, the new year represents a clean slate and brings a renewed sense of possibility and enthusiasm. It's a wonderful time to get your home organized in anticipation of the busy months ahead. Effective storage solutions and organization systems will enable you to enjoy your home to its fullest. Here are some tips to put you on track for an orderly and productive year.

Learn to let things go

The first step in any organization plan is purging. This can be the hardest part, but it is also the most rewarding.

Don’t keep things that aren’t functional or don’t bring you joy. Also remember that something you let go of might make someone else very happy.

If you're not sure you can part with an item, store it in a box and see if you miss it or need it. This is a great litmus test for what's truly necessary. If you don’t miss it after a set amount of time, donate it!

Don't let the perfect be the enemy of the good

Any organization effort is better than no organization effort. It’s best to approach a behemoth task like organizing your entire home in stages.

The house provides us with natural barriers. Think of each room as its own project and it will begin to feel more manageable.

And remember that it gets worse before it gets better, so don't feel discouraged early on. Organizing is not something that happens in one day - it’s a journey and a state of mind.

Think outside the box store

A trip to your local organization store can be fun, but unorthodox storage solutions make for a more interesting space.

Beautiful, one-of-a-kind pieces can be highly practical and help make your home more functional. Make use of available and affordable materials, when possible, to stretch your home organization budget. You can craft solutions yourself or revitalize secondhand pieces that fit with your style.

This bookcase was made out of old wine boxes and then stained a dark walnut color.

The three Bs: bins, buckets and baskets

Oh, and jars. (But that doesn’t start with a B.)

Once you’ve whittled down your belongings to favorites and essentials, you’re going to need somewhere to store them. Baskets and buckets have a wonderful visual impact in a room - filling nooks, resting against chairs and adding texture and color.

They are also highly functional for storing everything from toys and blankets to magazines and shoes. Keep an eye out for unexpected vessels, like this gigantic industrial mixing bowl that is now a great solution for avoiding entryway clutter.

Using jars in the kitchen to store dry goods can make open shelving a lot more appealing. Bonus: By keeping healthy ingredients in plain sight, you’ll probably end up using them more often.

Use your vertical space

If your home doesn’t have a huge footprint, vertical solutions are essential for staying organized. These can be implemented in a more practical manner - like stacking bins and boxes under your bed or in your closet - as well as through design decisions.

Capitalizing on vertical space draws the eye to different parts of the room and creates a sense of balance, in addition to saving important real estate on the floor.

This curio cabinet makes excellent use of a corner that might otherwise be neglected. A hanging light above has a nice visual impact and doesn’t take up any additional space.

The best reason to get and stay organized? You’ll save yourself valuable time - which means you can focus on doing things that really matter to you.

Related:

Originally published January 2015

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Thinking of buying a home this year? We compiled five New Year’s resolutions that can help you keep your financial resume in tiptop shape.

1. Avoid job hopping

Employment history and income are two of the biggest factors lenders look at when evaluating a mortgage application. A new job may be a good career move, but if you plan to buy a home in the new year, know that job hopping can be a red flag to some underwriters - especially if you’re moving to a different industry.

A steady job history and few or no gaps in employment over the past two years are ideal, as it helps lenders more easily forecast your future income.

If you do get a new job while home shopping, let your lender know as soon as possible. It doesn’t mean you won’t qualify for a mortgage - just be prepared to show extra documentation.

If you’re moving from a commissioned or hourly job to one that’s salaried with equal or more compensation, it may help your application. Lenders often prefer borrowers to have steady, predictable paychecks.

2. Limit monthly subscription services

Monthly subscription services are certainly convenient, but they can add up. Even if you pay off your credit card every month, you could be dinged for high credit utilization if your credit report is pulled midcycle.

If you’re thinking of buying a home this year, consider keeping your monthly subscription services to a minimum.

3. Build a solid credit history

One of the first things a lender will look at is your credit history. Lenders prefer borrowers who have a history of paying off credits cards and other debts on time - because it signals that you’re a responsible borrower and less of a risk.

If you don’t have credit, securing a home loan may be significantly more challenging and time-consuming, but not impossible. Records of paying rent and utilities on time, as well as student loan debt or cell phone bills, can help show a potential lender that you have a history of managing monthly payments.

4. Check your credit

Your credit score can have a significant impact on your ability to buy a home. A low credit score can negatively affect how much money a lender is willing to loan you, as well as your interest rate.

Just a few percentage point differences in an interest rate can cost you thousands over the life of a loan. Monitor your credit closely, especially for fraudulent activity, to prevent any surprises that could delay the loan application process.

If you’re unsure of your credit score, many financial websites offer credit score monitoring, or you can get a full credit report once a year.

5. Avoid large purchases

Avoid taking on large amounts of debt - whether it’s buying a car or planning a large vacation - before buying a house. This is advisable even if you’re already preapproved.

Your debt-to-income ratio, or how much money you make compared to how much debt you have, can significantly affect how much money a lender is willing to give you. Keeping debts to a minimum can help make the home-buying process go a lot more smoothly.

Just like proofreading your resume before you apply for a job, cleaning up your financial resume can help improve your chances of buying a home.

Take advantage of online tools and resources, like our affordability calculator, which can help you determine how much home you can afford. Our mortgage calculator can also provide custom down payment estimates based on home price and interest rates. And as you search for your future home, check out our extensive lender and agent reviews, which can help you find the best real estate partners for your needs.

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Robert Magda

Friday, December 20, 2019

Home Organization: Embracing Order in the New Year