Celebrities,senior level business leaders and wealthy inventors aren’t the only people who should enjoy the benefits inherent in an amazing walk in closet. You deserve to have easy access to a closet that offers you enough room to hang and store a majority of your clothes, shoes and fashion accessories.
Stop dreaming and get the great walk in closet that you deserve
Although you could pay to have a great walk in closet built at your home, this may not be the best way to get a durable, multi-purpose walk in closet. If you want an awesome walk in closet, look for this feature in each house that you check out during the home buying process. Here are just a few advantages and pluses to look for in a great walk in closet:
- Lots of shelving – Overhead and lower shelving provide ample storage space
- A bench to place items on while you’re picking out clothes or shoes to wear for the day
- Great lighting – You need to be able to see well while searching for things to wear. Poor lighting could cause you to think that a blue suit is black or that a pair of red shoes are dark purple.
- Awesome floor design – It doesn’t matter if the floor is hard wood, carpeted, ceramic or tile, you should find the design personally appealing.
- Cabinets – In addition to a bench and lots of shelving,a great walk in closet may have cabinets with doors on them. You could use this space to store items like jewelry, belts, shoes and handbags in.
- Drawers – Similar to cabinets, walk in closet drawers offer you the space to store smaller clothing and fashion items in. This can keep you from losing ties, cuff links and decorative pins. Walk in closet drawers also help to keep your walk in closet from appearing cluttered.
- Mirrors – A great walk in closet that has floor length mirrors eliminates the need to exit the closet and walk inside your bedroom or bathroom just so you can see how a blouse, pants, dress or suit looks on you. This saves you time. On busy mornings or busy evenings when you are rushing to get to work or an event, the extra time that you save could help you to arrive on schedule.
- Vertical floor length shelving – This type of shelving is different from regular horizontal shelves. Vertical floor length shelving is designed in bookcase style. Not only can you store clothes and accessories on the shelves, you can decorate your walk in closet by adding figurines and framed photos to these shelves.
If you’ve never had a spacious, multi-purpose walk in closet, you don’t know what you’re missing. A great walk in closet offers you more bedroom space. It can also reduce the amount of clutter in your home. Another benefit of a walk in closet has to do with time. By not having to search through stuffed dresser drawers and storage bins for clothes, you could save several minutes a day. Get a beautifully designed walk in closet and you can also enjoy a unique and appeasing décor.
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You may have heard that you will need 20 percent of the purchase price of a home to put down in order to buy it. As the prices of homes continue to rise. 20 percent of the purchase price of any home may not seem like a small feat to save up. It’s not impossible to buy a home. You may be able to get around the 20 percent rule in a variety of ways. Keep in mind that putting down as large of a down payment as you can will help you to land the home of your dreams a bit faster.
The 20 percent down rule is sort of a myth. While the more you have saved up, the better your chances of standing out among other buyers are. You can still get a mortgage with less than 20 percent down from most banks. The drawback in not putting down 20 percent on a home is that you will need mortgage insurance (also known as PMI). Mortgage insurance is necessary if you put less than 20 percent down because the lender wants protection in case the home is foreclosed on due to a lack of payments.
All About PMI Payments
If you do put less than 20 percent down on a home, your PMI payments won’t go on forever. Once your loan is paid down a bit, you’ll be free and clear of PMI payments. As a rule, if the loan-to-value-ratio reaches 80 percent, you can ask your lender to cancel the insurance for you. When the loan-to-value ratio reaches 78 percent, the lender will automatically cancel the PMI. This is a welcome decrease in expenses since PMI insurance can add up to be hundreds of dollars per month.
Finding A Way Around 20 Percent Down
Before you even decide to buy a house, you should look at financing options. There are certain programs that are available to you to help. If you know about them ahead of time, you’ll be able to take advantage of them.
Many different government agencies have programs available to help people get a home easier. These programs will provide home loans with a low interest rate and little to no down payment. The downside to these programs is that many of them actually require you to purchase private mortgage insurance as a contingency to get the loan. You’ll need to plan for these extra expenses. There are even grants available to help you with your down payment. Check in your state or local HUD office for details on various programs that can assist you with your down payment on your first home. Through a bit of savings and research, owning your first home can be possible with or without 20 percent down.