Issue link: https://www.epageflip.net/i/602616
Whenitcomestobig- ticket purchases, it gets no bigger than buying a home. That makes it se- riously im- portant to avoid costly mistakes. Here are four expen- sive home- buying mis- takes I want you to steer clear of. Follow my advice and you could save tens of thousands of dollars and ensure that you will never be house poor. MISTAKE:RELYINGONA LENDER TO SET YOUR BUD- GET When you ask a lender for a mortgage pre- qualification and pre-ap- proval, part of the lender's job is to tell you how big a mortgage the lender will be willing to offer you. Ig- nore it. Your lender only cares about two things: 1) Your ability to repay the mort- gage and 2) his or her commission on the deal. These folks do not know or care about anything else in your life. You need to set your housing budget. And that housing budget should be low enough so that you can afford to make prog- ress on all your other im- portant financial goals, such as maintaining a healthy contingency fund for emergencies, getting debt-free and funding re- tirement accounts. MISTAKE: BASING YOUR HOUSING BUDGET ON YOUR AFTER-TAX COSTS If you file an itemized federal tax return, the interest you pay on your mortgage may be tax-deductible. That can be a valuable tax break. But it should not impact how big a housing budget you give yourself. That practice is a sure sign you are stretching into too expensive a deal. Make sure your home is affordable even without factoring in the mortgage interest deduction. MISTAKE: IGNORING AD- DITIONAL COSTS It's not realistic to assume that $1,500 monthly rent will be equal to $1,500 monthly mortgage pay- ments. Renters don't pay property taxes, property insurance and mainte- nance and repair costs. Renters don't need lawn equipment and sup- plies, nor do renters typ- ically cover the cost of paint and other upgrades. As a homeowner, you'll need to anticipate big- ticket items such as a new roof, replacement of ap- pliances and the cost of heating, ventilation and air conditioning. MISTAKE: ASSUMING A 30- YEAR FIXED-RATE MORT- GAGE IS THE BEST LOAN DEAL A fixed-rate mort- gage is the way to go for the vast majority of home buyers. But 30-years fixed? It's not the best option, be- cause you'll pay so much more in interest. My pref- erence is to challenge your- self to see if you can afford a 15-year fixed-rate mort- gage, rather than a 30-year. Yes, the monthly pay- ments are obviously higher on a 15-year loan, given that you are repay- ing the loan in half the time. But keep in mind that 15-year loans typi- cally have a lower interest rate than the 30-year, so the payment will be sur- prisingly closer to the pay- ment on a 30-year loan than you might assume. Wouldyouliketosend a tip to Mary? You can email her at mary@ everydaycheapskate. com, or write to Everyday Cheapskate, 12340 Seal Beach Blvd., Ste. B-416, Seal Beach, CA 90740. EVERYDAY CHEAPSKATE Avoidthesehome-buyingmistakes With cool temperatures and a strong El Niño fore- casted this winter, Pacific Gas & Electric Company wants customers to sched- ule an appointment to have their in-home gas appli- ances inspected before the cold weather hits and to be mindful of the dangers as- sociated with carbon mon- oxide poisoning. As part of PG&E's com- mitment to safety, custom- ers can have a local gas service technician relight their pilot light and con- duct an in-home appliance inspection at no cost to en- sure their natural gas fur- naces and appliances are in proper working condition. According to the Center for Disease Control, there are approximately 400 carbon monoxide related deaths in the United States each year. If unsafe concen- trations of carbon monoxide are present but not detected, the result can be fatal. For advanced warning, PG&E suggests customers check the flame on their gas appliances. A blue flame indicates complete combus- tion and that the appliance is in good working condi- tion. A lazy, yellow or white flame is a warning sign that you should have a service technician check for any hazards. Ifcustomerssuspectthere is a problem with a natural gas appliance inside their home,theyshouldcallPG&E at 1-800-PGE-5000. A gas servicerepresentativewillbe dispatched to do a thorough inspection. If you detect car- bon monoxide in your home, you should get out immedi- ately and call 911. Heatingsafetytips PG&E urges customers to be cautious with home heating this winter and of- fers the following tips and information: • Install carbon monox- ide detectors to warn you if concentration levels are high. As of 2011, all Cali- fornia single-family homes are required to have carbon monoxide detectors. Make sure they are installed near sleeping areas and you re- place the batteries at least twice a year. • Never use products inside the home that gen- erate dangerous levels of carbon monoxide, such as generators, barbecues, propane heaters and char- coal. • When using the fire- place to stay warm, make sure the flue is open so that the byproducts of combus- tion can vent safely through the chimney. • Make sure water heat- ers and other natural gas appliances have proper ven- tilation. In general, properly in- stalled and maintained natural gas appliances pro- duce very little to no carbon monoxide. As part of customers' gas service, PG&E repre- sentatives are available to inspect gas appliances and make sure they are work- ing safely. To schedule an appli- ance safety inspection, cus- tomers can call 1-800-PGE- 5000. For more winter heat- ing safety information, go to www.pge.com/gassafety. If a customer ever smells the distinctive "rotten egg" odor of natural gas in or around their home or busi- ness they should immedi- ately call 911 and PG&E at 1-800-743-5000. CONSUMERS Utilityoffersfreegas appliance checks SUBMITTEDBYJOHNWOODS This picture was taken October 3rd from my front yard in Los Molinos. If you would like to submit a photo for publication, sent it editor@redbluffdailynews.com with "reader photo" as the subject and include your name and a caption, or bring it by the Daily News, 545Diamond Ave. in Red Bluff during business hours. READER PHOTO FALL SUNSET PAINTS THE SKY Mary Hunt 2Bud'sBBQ CUT THIS OUT! PUT THIS ON YOUR REFRIGERATOR! (530) 528-0799 592AntelopeBlvd.RedBluff (IntheoldProntoMarket) 2pm-5pmWeekdays 15% Discount for SENIORS Regular Haircut $ 2 00 off KWIK KUTS FamilyHairSalon 1064SouthMainSt.,RedBluff•529-3540 ANY RETAIL PRODUCT 20 % off withanychemicalserviceof $50 or more Notgoodwithotheroffers Expires 12/31/15 With coupon Reg. $13.95 7875 HWY 99E LOS MOLINOS, CA 384-1265 Nosubstitutions ORDERS TO GO Served 6:30am- 2:00pm Mon.-Fri. BreakfastSpecial NewYork Steak 2 Eggs HashBrownsor Home Fries, Toast $ 8 99 HappyThanksgivingFromOurBrookdaleFamilytoYours! Enjoy a delicious pie while supporting our community! **All Proceeds Go To: St. Elizabeth's Community Hospital Hospice A Brookdale Benefit for St. Elizabeth's Hospice PleasePlaceOrdersBy: Friday, November 20 th by 5:00pm Choose From: Apple or Pumpkin Pie Cost: $9 Per Pie Pie Pick Up: Tues (24 th ) & Wed (25 th ) For Orders Please Call: (530) 529-2900 Or Order in Person at: 705 Luther Rd PIE TIME! PIE TIME! PIE TIME! Round Up Saloon Round Up Saloon 610WashingtonSt. (530) 527-9901 Come join us for BBQ & Football on Sunday's LIVE MUSIC CALL FOR DATES All prices plus sales tax, license fees, doc fees, any finance charge, any dealer preparation charge, any emission charge, any documentation preparation charge, any smog fees and any tire fees. all vehicles subject to prior sale & credit approval. Sale expires Nov. 30, 2015 GrowneyMotors 1160 Main St, Red Bluff • (530) 527-1034 2013 BUICK REGAL PREMIUM II TURBO 4 CYL, FACTORY WARRANTY, LEATHER. #248931 $ 24,495 November Special ONEAT THIS PRICE American Style - It's all about the flavor! www.kahunasmongolianbbq.com 2151 Market St. • Redding • (530) 244-4200 $ 2 OFF Regularly Priced Adult Meals (Dine-In Only) One per table. Not valid on to-go, seniors or children's meals. Not valid with other offers. Present for discount. Kahunas Mongolian BBQ is where you are able to create your own stir-fry by choosing your ingredients and sauces. Interact with our grill warriors as they prepare your meal right in front of you on our 48 inch round Mongolian Grill. Kahunas has something for everyone, from vegetarians to meat lovers and even gluten free diets! 365-7194 or 365-4322 OPEN 7 DAYS 6am-10pm 8080 AIRPORT ROAD Your full service: Meat Department, Deli & Groceries www.kentsmeats.com On-site HARVESTING CUTTING & CRYOVACING 40 th Annual & Last Fri.,Dec.4 th , 2015 9AM to 8PM Sat., Dec. 5 th , 2015 10AM to 3PM 25076 Sycamore Avenue, behind La Corona, Los Molinos TEAANDBOUTIQUE Enrollment, Plan Changes, Income & Subsidy Modifications 805 Walnut Street CornerofWalnut&Jackson Red Bluff 530-840-6611 Lic# OK13422 ENROLLMENT Service Assistance CertifiedInsuranceAgent 413WalnutStreet•530-528-8000 Sat.-Mon. 10am-4pm • Tues-Fri 10am-5:30pm Se Habla Español www.redbluffgoldexchange.com www.angelsamongusall.com ServingOurCommunityForOver21Years Joinusinsupporting CHIPS FOR KIDS Toy Drive $ 10 .00 new, unwrapped toys Dec.3,4&5 Thurs, Fri, & Sat. 9:30am-6:00pm For Custom Wreaths & Designs ALL FRESH WEATHS, ARRANGEMENTS and more 645AntelopeBlvd.Ste11 Frontier Village (across form the Fairgrounds) Holiday Scholarship Boutique RedBluffGardenClub Calltoorder 941-1516 or 527-2226 LIFESTYLES » redbluffdailynews.com Tuesday, November 17, 2015 MORE AT FACEBOOK.COM/RBDAILYNEWS AND TWITTER.COM/REDBLUFFNEWS A5