Buying a less expensive home that needs some improvement can be a fun way to add character to the house, and if done correctly, save money. While you may be getting a good deal on a house that you can make your own, obtaining insurance on the house may turn out to be difficult and expensive. A few options you can consider that may lower the cost of home insurance and make the process a little easier are: Conventional insurance, if you are planning on making minor or quick repairs and updates this would be a good option as it is a low-risk scenario. Builder’s risk, this type of insurance is easiest to get if you have a timed schedule for all repairs and updates; the cost will be lower in the beginning and as the home improves costs will rise. Vacant dwelling is another option to consider if you will not be living in the home during reconstruction. This type of insurance will cover most physical accidents but will not cover theft. More here

Every season brings the threat of basement flooding and being prepared can save you hundreds, if not thousands of dollars. A few ways you can ensure your basement stays dry during wet weather are: Check and maintain your gutters, keeping your gutters clean and working efficiently can decrease the risk of water coming into your house. Check to make sure you have land slopes that direct water away from the foundation of your home. Install a sump pump and be sure it can run with or without power. Also, consider installing a french drain, a drain that will conduct water away from your home and empty it at safe distance. More here

Searching for a new or first home is an exciting time for many Americans. When you find the home that fits your needs and decide to make an offer, you want to do everything possible to ensure the offer is accepted. Here are a few tips to keep in mind: Compliment the house, many sellers have an emotional attachment to the home and won’t tolerate negative remarks well. Come in with a positive attitude, and try to establish a personal relationship with the seller. Don’t make an extremely low offer as it may offend the seller. Also, be organized to help speed the process along if your offer is accepted. More here

According to the Mortgage Credit Availability Index from the Mortgage Bankers Association, mortgage credit availability increased last month by .5% averaging 116.4. The jump is good news as it means lending standards are becoming more relaxed. Experts have implied that the increase is due to the growing number of jumbo adjustable rate mortgages. Additionally, many programs have loosened their lending requirements helping scores of new borrowers obtain mortgages. More here

Home appliances can be expensive and unexpected purchases that cause significant financial setbacks. A few ways you can save money when buying a new home appliance are: Overlook scratches and dings that can help lower the price of your appliance. Look for older models that are still new. Search for great deals at different locations and do price checks to ensure you are getting the best possible price. Also, don’t get sucked into added and unnecessary features; ask yourself if you will use the features before you buy the appliance. More here

According to the Labor Department, U.S. employers added 209,000 jobs last month making July the sixth straight month that the job market has reached 200,000 or more added jobs. The labor market has not experienced job gains for this long of a period since 1997. Job growth will help lower unemployment rates over the next few months and may aid in increasing wages. Additionally the participation rate in the U.S. also increased with 62.9% of Americans having jobs or actively seeking jobs. More here

Having hardwood floors in your home is a timeless feature that adds to the home’s value, but many people are unaware of how to properly maintain wood floors to keep them looking new for many years to come. A few ways you can keep your hardwood floors well maintained are: Dust the floors every week or two to clean up dust and pet hair, deep clean the floors with wood cleaning products, and be sure you do not soak the floor, standing water can cause damage to hardwood floors. Cleaning off stains and marks is a little more complicated- be sure you find out what kind of finish has been applied to your hardwood floors before trying any stain or mark-removal remedy. More here

The Special Inspector General for the Troubled Asset Relief Program’s report has stated that there is approximately $22 billion dollars of usable money from the Treasury’s Making Home Affordable program, with an additional $3.4 billion available from the Hardest Hit Funds Program. These available funds are for struggling mortgage holders to ensure they can keep their homes. Experts worry that many homeowners are unaware of the program. The report said; the “treasury should improve coordination between these programs so that they work together as seamlessly as possible to provide effective, sustainable mortgage relief to as many struggling homeowners as possible.” More here

Selling a home can be stressful and time consuming, and although the housing market is strengthening, that doesn’t necessarily mean selling your house will be without obstacles. A few reasons you may have trouble selling your home are: Price- if you are pricing your home too high it may take a long while to sell the home if you ever sell it all; try to emotionally disconnect from your home and see the true value. Looks- if your house is not well maintained and requires extensive renovation, buyers may be scared off; clean up your house and maybe add some fresh neutral-colored paint- landscaping can also add needed curb appeal. Marketing- provide realistic photos of your home and a detailed description of the house and community in numerous outlets and locations. More here

Last month, home resales increased at the fastest rate seen in approximately eight months. According to the National Association of Realtors, existing home sales exceeded many analysts’ expectations by jumping 2.6%, increasing the annual rate to 5.04 million units. As mortgage rates decrease and the U.S. job market continues to grow, the housing market is expected to flourish. More here