Luxury home sales have increased considerably and are expected to continue to increase, passing last year’s sales. Luxury homes sales have jumped above 50% this year in 10 U.S. markets, suggesting that the housing market, including the luxury home sales market are flourishing. A few states with the most expensive homes are New York, Florida, Georgia, Texas, California, and Arizona. The most expensive home in the U.S. is worth approximately $69 million and is located in Water Mill, New York. More here

According to RealtyTrac, the housing market is considered affordable to recent college graduates who have a median income, including those paying on student loans. Data suggests that 96% of U.S. homes are affordable to younger homebuyers. Daren Blomquist, RealtyTrac’s vice president said, “contrary to much rampant speculation that student loan debt is holding back home ownership among recent graduates, we found that the vast majority of markets are affordable for recent graduates making the median household income — even many of those recent graduates with student loans.” More here

Maintaining your home is a vital part of home ownership. It is easy to wait until something goes wrong to fix it, but waiting can cause you to spend a much larger amount of money than if the problem was addressed at an early stage. A yearly DIY home inspection may help cut down of repair costs and keep your home safe. Just a few things to check while doing a home inspection are: Electrical wires, keeping trees away from live wires will increase safety around your home. Also, check break boxes and fuses. Look for outdoor hazards like uneven paths, or driveways. Examine your roof, porches, gutters, and siding. You’ll also want to inspect all plumbing and pipes in your home for leaks and water pressure. And finally, if you have a septic tank you should do regular examinations to be sure it is working properly. More here

Renters have increased in the U.S. over the last few years, and while many agree that renting often offers less stress than owning a home, renting comes with its fair share of stresses. As a renter, you should be aware of certain laws and helpful tips that may help make your renting experience a positive one. When looking for a place to rent you may want to consider looking during the winter season. Winter months are usually slow, and you may find a better deal. Renter’s insurance is available for you and worthy of consideration. Most policies cover theft, damage caused by natural disasters, and liability for visitors. There is a cap on your security deposit. You should look up your state’s limit, and ensure your landlord is following the law. Every renter should retain receipts and document everything such as repairs and broken appliances. Finally, save receipts and email correspondence between you and your landlord in case something goes wrong, and you need to pull up critical information in the future. More here

It can be hard work and quite costly to replace broken or outdated appliances. One way you can cut down costs on a bathroom remodel is to refinish or line your old bathtub rather than spending thousands on a new tub. Both of these options can make the tub’s lifespan considerably longer while giving it an updated look. Tub liners are a mold of your old tub that slide over and fit to the existing tub to create a new shell. You will need to replace faucets for best results, and the seams will need caulking. Refinishing a tub is a little more difficult as it requires extreme caution. Chemicals used to refinish a tub are dangerous if you come into direct contact with them. There are many steps to the refinishing process, and you may want to consider hiring a professional. In most circumstances, you will still save more money than if you were to buy a new tub. More here

According to RealyTrac, house flippers in the U.S. bought homes, on average, 8% lower than the estimated value of the house, and re-sold for approximately 6% above market value. Most house flippers make their money by buying a home at a significantly discounted price, making repairs, adding visual enhancements, and then selling the home above the home’s estimated value. A few locations with the best markets for flipping are Pittsburgh, PA, New Orleans, LA, Richmond, VA, Atlanta, GA, and Chattanooga, TN. Home price appreciation has helped house flippers in both good and bad markets throughout the United States. More here

With California experiencing the worst drought in hundreds of years, water conservation is becoming a hot topic across the United States. A few simple ways you can reduce the amount of water used in your household are: Water your outdoor plants and grass between the hours of 10:00pm and 6:00am to decrease the evaporation rate. Check your home frequently for small leaks in shower-heads, toilets and faucets. Also, equip your home with water-efficiency devices that are made to increase water conservation. While the appliances or tools may be expensive, your lowered monthly bills will offset the price. More here

According to a new report from Sentier Research, the median household income has increased over the last three years, jumping to 3.8% in June, and averaging $53,891. Although median income has increased, it is still considered to be 3.1% below the mid-2009 high of $55,589. Gordon Green, a partner at Sentier, stated that “even though technically the recovery began in June 2009 the broad measures of unemployment were still high. As people found jobs, their incomes went up and then we started to see incomes turn around.” More here

Painting the interior of your home is a big job, but if you know what you’re doing, you can save hundreds by not hiring a professional painter. A few ways you can get a professional look without spending a significant amount of money are: Remove everything out of the room, including light fixtures and floor molding. Purchase a good drop cloth to cover and protect floors. Repair any cracks or dents in the walls and sand them down so the paint can better grip the walls. After sanding the walls, wash the sand dust off with a damp cloth. Prime your walls so the true color of the paint can be seen; it will also ensure the paint is applied smoothly. Lastly, purchase a roller that is lightweight and not too long. The roller should hold paint, but not create too much texture. More here

While the charm and character of an aged house can be very appealing, there are a few things to look for when considering buying an older home. Termites- a home inspection can usually rule out if the home has termites or not, but older homes are more likely to have had leaks in the past leaks. Wet wood attracts termites and other bugs, and you may want to invest in a professional termite inspection. Lead paint- homes built before 1978 may have lead paint in them. Lead poisoning can cause multiple health problems and is a serious matter that should be investigated using either a home lead detection kit or a certified lead inspector. Windows- you may want to consider installing new windows. Older homes, more often than not, have single-pane windows that are not energy efficient and are more prone to leaks and rotting. More here