Show Notes
- Attic Insulation: Did you know attic insulation is the single most cost-effective way to keep your home comfy and cut energy costs? Find out how to insulate your house from the top down.
- Patio Heaters: Would you like to enjoy your outdoor living space even after the weather turns chillier? Learn about some great patio heater options to extend your outdoor entertainment season.
- Foreclosed Homes: With home prices so expensive, you may be tempted to buy a foreclosed home to get a deal. We’ll discuss the pros and cons of buying foreclosed properties.
Plus, answers to your home improvement questions about:
- Building a Dock: Composite decking materials are durable and long-lasting, but are they the best choice for building a dock at a Florida waterfront home? We’ve got some advice for Dennis on the benefits and downsides to consider.
- Roofing: Will a tarp help prevent heavy snow buildup on a log cabin roof in winter weather? LaDonna learns how effective a tarp may be and what other options to consider for removing snow from her roof.
- Insulation: Chandler wants to use spray foam insulation in his attic but is worried about overheating and shortening the life of his roof shingles. We address his concerns and explain why it shouldn’t pose a problem.
- Cedar Siding: Is it better to paint or stain cedar shingle siding that’s starting to fade? Cindy finds out why a solid stain may look better and last longer than paint, with less maintenance.
- Light Fixtures: What’s causing the bulbs in a light fixture to flicker when the hot water is turned on? We enlighten Russ on why this odd issue may be happening when his hot water heater kicks in.
- Squeaky Floors: An old house with wood floors has its charms, but Amanda’s squeaking floor isn’t one of them. We offer step-by-step DIY tips on how to find the source of the noise and tighten those floor joists.
- Leaking Faucets: When old spigots outside the house start to leak, should they be repaired or replaced? We’ve got info for Tom about some DIY plumbing repair kits that can help with this common problem.
- Damp Clothes Dryer: Sherry has noticed that clothes left in the dryer are coming out damp, even after they’ve been completely dried. Condensation may be the issue and we tell her some ways to try dehumidifying the area.
- Termites: Termites in Glen’s Florida home are becoming pesky pests. We discuss whether the pest control company’s recommendation for Borax insulation in the attic will be effective in controlling them.
Podcast Transcript
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TOM: Coast to coast and floorboards to shingles, this is The Money Pit Home Improvement Show. I’m Tom Kraeutler.
LESLIE: And I’m Leslie Segrete.
TOM: And if you’ve got a project you’d like to get done around your house, we can help. Reach out to us with your home improvement questions at 1-888-MONEY-PIT or post them at MoneyPit.com by clicking on the blue microphone button. Maybe you’ve got a project you’d like to do now or plan for the fall, which is just ahead. Maybe you’ve got a décor dilemma or something that needs some fixing. Whatever it is, reach out to us because that’s what we do.
Coming up on today’s show, do you know that the single most cost-effective way to increase your comfort and cut heating bills is adding attic insulation? We’re going to share some tips on the easiest way to get this project done.
LESLIE: And if you love the outdoor spaces and you want to keep dining and entertaining from spring through fall, a patio heater definitely is going to start coming in handy in the next few weeks. We’re going to review the options so that you can extend your outdoor-living season well into the fall.
TOM: And with home prices at an all-time high, it can be tempting to look for a good deal by buying a home that’s been foreclosed on. Or is it? We’re going to share the pros and the cons.
LESLIE: But first, we want to hear what you are working on. From bathrooms to basements and demolition to décor, we’re here to share expert advice to help you tackle your to-dos with confidence.
TOM: So let’s get to it. The number here is 1-888-MONEY-PIT, 888-666-3974.
Leslie, who’s first?
LESLIE: We’ve got Dennis on the line who needs some help building a dock at a Florida home.
Tell us what you’re working on.
DENNIS: Yes, I’m having a contractor put in a dock down in Florida with a home that’s on a lake – a 200-acre natural lake. And I was asking about using the Trex-type (inaudible) the material for the surface. And he did not recommend – he did not think it would hold up. He said he’d used not necessarily that brand but others. And he didn’t think it’d stretch far. So I was just wondering if that would be a good idea or a bad idea.
TOM: Well, I disagree with your builder when it comes to wear and tear, because Trex is incredibly durable stuff. And I’ll give you an example from up here where I live in New Jersey. They use Trex to build the boardwalks. And there’s a boardwalk that’s been down here probably 20 years now that was built out of some of the original Trex. And it’s only gotten better since then. So it stands up.
The one thing you should be aware of, though, with any type of composite is it gets very, very hot. So since this place is in Florida, you’re going to find if the dock’s in direct sun, that it’s going to get really warm on a hot day. And you will not be able to walk on this stuff in bare feet. So that’s why a lot of dock builders will not use a composite because when it’s exposed to a lot of heat like that, it can be very uncomfortable. You wouldn’t want to lay on it or have a chair on it or anything like that because it just gets so hot. It just holds a lot of heat. And wood is probably a better choice in a situation like that.
But in terms of durability, there’s nothing better. I’m building a Trex deck right now. And I’ve got to tell you, I’ve got no qualms whatsoever about the wear and tear on this stuff. I’ve seen it over the years and ever since it came on the market, it’s been one of the most durable decking products out there.
DENNIS: OK. Well, thank you then. Yeah, I guess from the heat standpoint, that might be the negative or maybe the reason to go with the 5/4-inch or the 2-by. Just would be, I guess, more comfortable because we’ll be lying on it and walking (inaudible).
TOM: Now, I do know that some of the manufacturers, including Trex here – you’re going to start seeing composite boards that have UV inhibitors in it where, basically, it has a UV reflectant designed to keep the temperature down on those boards, as well. So that may be coming in the future.
But for now, if it was me and I was in Florida, I would not use composite in that particular application for that reason. Just because it gets very, very warm.
LESLIE: So hot.
DENNIS: OK. Well, thank you very much. Been a lot of help.
TOM: Alright. Good luck with that project.
LESLIE: Alright. Now we’ve got to head out to Alaska where Ladonna needs some help with snow management. At least, that’s what I think is going on.
What’s happening, Ladonna?
LADONNA: Yes, please. I live in Chugiak, Alaska where we get plenty of snow each winter. My log cabin has a 6/12 pitch and I’m wondering, if I put tarps over my roof, whether the snow will slide off and prevent a lot of buildup. I typically get a lot of buildup each winter and use a roof rake to take it down. But I was told that maybe the snow would slide off of a tarp.
TOM: I guess when you live in Alaska, you have to do a lot of work with snow management.
So, Ladonna, I understand your concern but I think it’s probably not going to be that effective. And here’s why. First of all, you live in Chugiak – I hope I pronounced that correctly – which is near Anchorage. So that’s the southern part – the slightly warmer areas – of Alaska. And the warmer areas are going to have wetter snow. And when the snow gets wet, it gets stickier. If you were to improve the sort of the texture of your roof in a way that would make the snow want to blow off – it’s only going to happen when it’s super cold and really dry and light and flaky. So, I don’t think that that’s going to really give you any relief whatsoever for all the trouble that it’s worth.
And on top of that, when it does stick, now you’re going to have to again get up there with a roof rake and it might even be harder to get it down; it certainly would damage your tarp. So while I can appreciate the situation, I just don’t think that that is going to work for you.
And the only thing that might work might be heating cables, which will stop it from building up quite as much. But again, that’s expensive to run.
So, I think you’re going to be stuck using that snow rake. That really is the best thing to do at this point.
LESLIE: Chandler in Kentucky, you’ve got The Money Pit. What can we do for you today?
CHANDLER: My question for you is, when it comes to insulating a new home – I’m building a new home in Mayfield – and I would like to know, what’s the best route? I want to do a total encapsulation of the entire envelope of the house. But I don’t want it to cook my shingles in the hot summers and stuff. I don’t want to have a vented roof system or anything; I feel like that’s a very outdated method. But I just don’t know and I don’t know any contractors that are educated enough to – that’d give me an answer.
So I’d really like to have some perspective from you all on what would be the best approach as far, as having a great insulation value but not cooking your shingles in the summer with that hot, hot Kentucky heat that we normally get.
TOM: You know, Chandler, I’ve heard this same question over and over again. And I think that the roofing shingle manufacturers sort of started this because they have told some folks that their warranties would be voided unless they vented the attic.
But the truth is that you can go ahead and spray-foam the inside of your attic and the entire building envelope with absolutely no fear whatsoever that this will shorten your roof shingles. You know what would shorten your roof-shingle life at about 10 times more than worrying about spray-foam insulation? Just having a darker shingle. If you look at white roofs versus black roofs, the white roofs reflect more UV than a black roof. So, that’s the kind of thing that really impacts shingle life, not whether you use a spray-foam insulation on the back side of it.
There have been some folks that have done some really detailed studies on this that I remember the number correctly. I think the increase in temperature of the sheathing was only about 3 percent because of the spray foam, which is infinitesimal and completely insignificant.
So I would have no worries whatsoever about shortened shingle life by using spray-foam insulation which is why, by the way, I myself have personally used it. And it’s been up for several years and I have no fear whatsoever that it’s going to shorten my roof shingles.
So I think it’s a great option for you. It’s going to seal and insulate and make that home super comfortable for you in the years ahead.
LESLIE: Sydney in Ohio is on the line with a question about cedar shingles.
How can we help you?
SYDNEY: I live in a raised ranch home and I have cedar-shingle siding on the front of my home. And the shingles themselves are in good shape. They were previously stained and I’m wondering, now that they’re fading, if there is any way I could paint them or do something different to them, other than staining them.
TOM: So, Sydney, the one thing to know about siding like this – cedar siding, in particular – is that once you paint it, you’re kind of committing to paint for the rest of the life of the siding on your house. If you continue with the stain, as you’ve noticed, the stain will fade, it’ll change color but it doesn’t ever get to the point where you have cracked strips of stain that would have to be pulled off. With paint, that’s what happens: it ends up cracking and separating from the cedar below and you’ll have to scrape it all out to do another coat or at least rough up what’s there. So I’m a big fan of stain on siding.
Now, that said, you have a lot of choices in stain. It doesn’t have to be dark. You want to brighten it up? Not a problem. You want to turn it into a red cedar? You can do that. You want it to be gray? You could do that. I would recommend that you use a good-quality, solid-color exterior stain.
And the other thing about cedar siding is that sometimes, it’s helpful if you prime it first with an anti-tannin primer. There are certain types of primers that work well with cedar. And by doing that, you stop some of the oils from leaking through and impacting the quality of the stain.
We’ve taken care of the cedar siding on our house doing just that for many, many years and I’ve had my siding last years and years and years, way longer than it should’ve between coats of stains, because we did it right the first time out. So, I’d recommend you skip the painting step and go right with the stain. Use a solid-color stain. Prime it first and that’s going to last as long as it possibly can.
LESLIE: Well, adding insulation is the single most cost-effective way that you can improve your comfort and cut energy costs. And now that we’re moving toward the colder weather, it really is a great time to take on that project. We’ve got tips on how you can do that, in today’s Energy Saving Tip presented by Owens Corning.
TOM: OK. So first up, let’s talk about where to insulate, because your attic plays a huge part in keeping your heating bills down. So that’s where you start. And having enough insulation is key. Now, the experts at the Department of Energy say that most homes need 19 inches of fiberglass-batt insulation or 22 inches of blown-in insulation. And frankly, most homes just don’t have that now.
So it’s also just as important to make sure that insulation is doing its job by maintaining a dry and well-ventilated attic. So ventilation allows attic heat to escape to the exterior in the summer. And it also helps to cart away moist air in the winter, which can make the insulation ineffective, and keep the roof surface at a more consistent temperature. And that will reduce the opportunity for ice dams to form.
So, once you double-check that your attic is insulated well and that any existing insulation is not blocking your soffit vents, you should be good to go. But also, don’t forget to make sure that your bath-exhaust fans are not dumping a lot of moisture directly into the attic. Because that’s another thing that we see a lot.
LESLIE: Now, when you’re ready to tackle this insulation project and add some new insulation to your home, use Owens Corning’s PINK Next Gen Fiberglas Insulation. The PINK Next Gen fits snugly into those floor joists, which is super important for the insulation to work well. It’s soft to the touch, it’s a lot easier to work with than the fiberglass of the past. And if you find that you need to add more insulation on top of existing insulation, you want to make sure that you’re using unfaced fiberglass batts, because this is going to help you avoid trapping moisture between the original insulation and the new stuff that you’re adding.
Now, if you have loose fill insulation, be sure to pick up Owens Corning’s AttiCat Blown-In Insulation and then rent the AttiCat Blown-In Machine from your local Home Depot or Lowe’s. And that’s going to complete your job. With blown-in, though, it’s important that you add an even layer that’s going to cover the joists. And one trick is to install rulers in a few places so you can actually measure the depth and make sure that you’re adding a consistent level of insulation. Because you don’t want sort of heavy, filled pockets, you know?
TOM: Yeah. I remember one time when I was doing a home inspection, one of the installers had laid in – you know sort of the cheap yardsticks that you see around? They’re just very plain Jane. And they had yardsticks tacked up in four or five places in the attic. And they could tell that they had the exact same amount of insulation in all of those spaces. So, it was a really cool trick of the trade.
So, last thing. When you’re installing insulation, you want to make sure you avoid covering any recessed lighting or anything else that generates heat, because that could be dangerous. So you want to just cut the insulation around, then leave a little space.
And that wraps up today’s Energy Saving Tip presented by Owens Corning. For more tips and advance or information on this project, just visit OwensCorning.com or contact your local Home Depot or Lowe’s store for help. Owens Corning insulation products are available at HomeDepot.com and Lowes.com.
LESLIE: We’re going to head to West Virginia where we’ve got Russ on the line who’s dealing with some flicker-y lights.
What is happening?
RUSS: Well, I have a light fixture in my dining room. And it has 10 bulbs. Each one of the bulbs is an Edison-type bulb.
TOM: OK.
RUSS: I have it on. When I turn the hot water on, the light flickers, OK?
TOM: OK.
RUSS: But what I did was I took an incandescent bulb – I was just trying something. I took one incandescent bulb and put it in a light fixture. I can put the incandescent bulb in any position and it doesn’t work.
TOM: I was going to ask you that.
- So, a couple of questions. First of all, the water heater, is this an electric water heater?
RUSS: Yes. Yes, it is.
TOM: OK, OK. So, when the electric water heater’s – I’m going to give you a suggestion here of what might be happening. When the electric water heater comes on, it’s going to pull a lot of current and cause a voltage drop across the whole system.
RUSS: OK.
TOM: And when that comes on, the amount of current going to those LED bulbs that are majorly in your ceiling fixture – with an LED, when you get below a certain amount of voltage, it starts doing weird things like flicker. It doesn’t evenly dim. An incandescent bulb, it always comes on. And sometimes, maybe it’s not as bright while that voltage drop is happening. But with an LED, it starts to flicker when it goes below a certain level, unless it’s a dimmable LED but that’s another conversation.
Well, good luck with that project.
LESLIE: Heading to Pennsylvania where Amanda is on the line and dealing with some floor squeaks. What’s going on?
AMANDA: We just got a house. It’s about a hundred years old but it’s in great condition. It has the original hardwood floors – which are in great condition, as well – but some of them creak, especially the stairs. So what can we do to fix some of the soft spots and some of the creaky areas – they have about the 1-inch pieces of board that run across – without ruining the original hardwood?
TOM: So, when you have a beautiful, old home and you’ve got wood floors that squeak, that’s like the charm bonus right there. Some people pay more for that. So trying to find the source of those squeaks is challenging.
I can tell you why they happen. They happen because the boards move and they rub against each other and that’s what makes that squeaky sound. You can try to lessen them by tightening those loose boards where you find them but it’s the kind of thing that I think, Leslie, you chase them and you figure out one spot that’s squeaking. And you fix that and it’s quiet and then you take two steps and it’s opened up somewhere else, right?
LESLIE: Yeah, for sure. It’s like you’re constantly moving to the next squeaky sound – creaky sound.
TOM: Yeah, so you can try to tighten up those boards and I’ll tell you what types of hardware to use. Essentially, what you want to do is you want to screw those floors down to the floor joist below. And there’s a type of screw – it’s a very specialized type of screw. Not hard to hard to find but it’s called a “trim screw.”
And the reason you’re using screws is because when you put them in, they don’t pull out. And because it’s hardwood, you’re going to have to do a pilot hole first and then you drive in the trim screw, which is a very, very narrow screw with a narrow head. You typically would use a screwdriver with a bit on the end that basically fits into the top of the trim screw. And you can drive it down right below the surface of the wood. They are almost impossible to see when they’re done.
And if you tighten up those areas – you can also do it on stair treads, which you mentioned were making some noise – that will help to quiet it down. But don’t expect it to be completely silent. That ship has sailed. It’s not going to happen, right? But you could probably get it a lot better than it is right now.
LESLIE: Alright. We’ve got Tom on the line who’s dealing with a plumbing issue outside of the house.
What’s going on?
TOM (CALLER): Hi. I have a question about the spigots on the outside of the house. They are over 20 years old and seem to be pretty leaky. If I can buy a kit to just make them not leak anymore – if they should be replaced.
TOM: Well, Tom, that definitely happens with older faucets. The seals kind of wear out. In terms of a kit, you know, there are PEX kits out there that are designed to replace the old hose bibbs that you might be able to use if you’re familiar with that. I would make sure before I dive in here that there’s a shutoff valve for that faucet, on the inside of your house, so that you can turn the water off. And then you may be able to cut the old pipe out and insert a new PEX-based exterior faucet.
Now, PEX is cross-linked polyethylene piping and it has all the various valves and fixtures available to go with it. But it’s really easy to join it to the old copper piping and do so in a permanent way that’s not going to leak. And that will give you a new, functioning outdoor faucet to use from that point forward.
Remember, though, regardless of whether it’s PEX or not, you’ve got to turn those off in the wintertime. Because if you don’t, that’s an area that’s prime to freeze and break.
Well, if you love your outdoor spaces and you want to keep dining and entertaining there spring through fall, a patio heater definitely comes in handy. So, here’s a quick overview of the options. The first thing you need to consider is the fuel. Now, patio heaters are constructed to function using, I guess, three different fuel types: propane, natural gas or electricity.
LESLIE: Yeah. And I think the next thing you should start thinking about is: do you want to keep it in one spot or do you want it to be portable? Because there’s two options out there. A stationary heater is going to hook up to your natural-gas line. So you don’t have the tanks that you’re going to need to be replacing or refilling or moving around. But if you plan on moving the heater to different locations, you will need a portable propane model.
Now, portable patio heaters can either be freestanding or tabletop. Both are awesome, both work well. You just kind of have to figure out where you’re using it and what works best.
TOM: Exactly. Now, you also want to consider the heating power, because this is going to really determine how much heat it actually throws. So, for example, a 45,000-BTU heater is going to produce a 20-foot heat diameter. So that would be plenty to cover a patio table. Freestanding heaters are also typically more powerful than the tabletop heaters, so they can be used for bigger groups.
LESLIE: Yeah. And lastly, it’s important to know if the patio heater will be for an open or closed area. Now, for outdoor use, a freestanding gas heater can deliver a tremendous amount of heat to that surrounding area. But for enclosed areas, like a patio space under a roof, an electric, portable patio heater is really going to end up being your best choice.
TOM: Yeah. And of course, no matter what kind of patio heater you choose, you want to make sure you read and follow the manufacturer’s operational instructions and, I might add, their maintenance instructions. Because I’ve often found that those patio heaters, somehow, when you put them away in the middle of winter and you’ve taken them out again, they seem to corrode. They will get spiders’ nests inside of the gas pipes where the propane comes through.
So they do need a fair amount of maintenance. And you just need to know that that happens and follow it. It’s not hard to do but just don’t get frustrated when you turn it on the second season and it doesn’t work, because that’s going to be why.
LESLIE: Sherri in Tennessee is on the line with a question about a dryer.
What is going on at your money pit?
SHERRI: We have recently renovated our home and the – we have noticed that with our dryer, if – they’ll be dry and sometimes I have just left them in there and I have to re-fluff them to get the wrinkles out or something. But when I go back to them, if it’s been overnight, they’re pretty damp and I didn’t know if that was more of a dryer issue or maybe it’s the way we have it hooked up. It’s in the laundry room, which is outside the kitchen and there’s access through a vent just through the main – the wall into the outside.
TOM: Right. So, let me ask you a question about this. If you were standing at the dryer and the signal goes off, signaling that the drying load is done, are the clothes damp then? Or did they become more damp when they sit overnight?
SHERRI: They become more damp overnight.
LESLIE: This sounds like a condensation thing where you’ve got the dryers all warm and toasty from the clothes being dried and perhaps then it’s on a cold wall or exposed to air conditioning or something. Right, Tom?
TOM: Maybe. It’s a really odd problem. I can’t imagine what’s causing it, unless there is high humidity. Do you have any evidence of high humidity anywhere else in that area? Do you see condensation? Do you see any mold growth? Does it feel humid and sort of the air is thick down there? Or is it only in the dryer?
SHERRI: I’ve not really noticed it.
TOM: Do you have a steam dryer? Or does it have a water line that’s hooked up to it? Is it a newer dryer that has a steam setting?
SHERRI: No.
TOM: I can’t imagine what’s causing this but for – like you say, Leslie – the humidity down there. And so, I’m going to give you some general advice on dehumidifying that space.
SHERRI: OK.
TOM: Which is all that humidity starts on the outside of the house. It starts when you have gutters that are clogged. It starts when the soil around the house is really flat so you don’t get any runoff or the downspouts aren’t directed at least 4, 5, 6 feet away from the foundation. Because when you have a lot of water that collects around the house like that, it shows up first in the way of high humidity and much later, if it continues, in the form of flooding. So I would definitely look at the dampness issue and see if we can dry that space down there.
You might want to try a portable dehumidifier for a while, just to see if that has an effect on it. But even if you have that running, stopping the moisture from forming at the outside is usually the way that you get this under control.
SHERRI: OK.
TOM: And it’s something you can do yourself, too. It’s not terribly expensive but just – you just have to understand why this is happening.
We have a post on MoneyPit.com – it’s almost always on the home page because it’s so popular – about how to stop a basement from flooding. Now, of course, you said you don’t have a basement that’s flooding and I understand that but the advice is exactly the same. And we lay out, step by step, what you need to do to reduce moisture accumulation around the foundation perimeter of your house. So why don’t you take a look at that as well, Sherri, OK?
SHERRI: Thank you so much.
LESLIE: Alright. Heading down south to Florida, we’ve got Glenn standing by who has got some question about termites and insulation. Let’s see what’s going on.
How can we help you, Glenn?
GLENN: What I’m trying to find out – our termite pest control has come out with an attic insulation that they say is Borax-treated. It’s a cellulose. And that it should control termites that may get up into the attic. We have a lot of what’s called the “Formosa termites.” I’m just trying to find out, have you heard anything on this? Is it of value to put it in or …?
TOM: Yeah. The idea of mixing Borax in with insulation is not a new idea. Those products have been around for a long time. Now, in this case, you have a pest-control company that obviously is trying to do an extension on their existing business. And I get that. They’re looking for other ways to expand their business. You do have a problem in Florida with Formosa, termites where they are not subterranean, like we have up here in the North, where they come in – in our case, they come up from the ground so we can treat the perimeter. So, when you have a whole house problem like that, you’ve got to – your treatment’s got to be from top to bottom.
So, I don’t know that it’s a bad idea. I don’t know how effective it is. I would love to see some data on this, as opposed to just – “It sounds like a good idea.” I don’t think it’s terribly common. But I can’t tell you that it’s not going to work. I just don’t think it’s common enough for me to have a strong opinion on whether or not this makes sense or not. Certainly, homes in Florida, with regular inspections, can be very well protected against termites. So just because you have this insulation that’s treated with Borax doesn’t mean you should not be having regular inspections. Because that’s the way to stay on top of this. The problem becomes when you don’t do this and then you get these big surprises.
And Leslie, you know, if that happens, what they have to do in Florida is tent these houses.
LESLIE: Oh my gosh, I’ve seen it.
TOM: They basically put the house under a tent. That’s right.
LESLIE: They look like circus tents. They’re always the most ridiculously striped-looking things ever.
TOM: Yep. So that’s what you want to avoid. So, regular inspections is your best defense first.
GLENN: Alright. Well, you’ve given me a lot of good information to go on. So, I appreciate the call.
TOM: Well, we’re glad to help.
GLENN: Thank you.
LESLIE: Well, with U.S. home prices still rising – I mean is it ever going to stop? Nope, it seems like they’re just going to get more and more and more expensive. So, what do you do? It can be kind of tempting to look at a good deal by buying a house that’s been foreclosed. It’s not a bad way to get a potential price break but there are a lot of pros and a lot of cons that you need to consider before you do take that plunge.
So, first, let’s talk about pros. You’re going to see a lower price, which is amazing. The biggest advantage of buying a home that’s in foreclosure is the price, because they’re being sold under duress. Foreclosed homes are typically cheaper than comparable homes in that same area.
Now, you’ve also got motivated sellers. Lenders don’t want to own foreclosed properties and they’re looking to move them quickly. And some lenders will beautify the property or even make some repairs. And there’s a good chance to build equity here. If you’re buying a cheaper home that needs renovation, you’ve got a chance to increase your equity when it’s all fixed up.
Now, products like the FHA 203K mortgage, they can help. Because this mortgage offers enough money to buy and then gives you the money to rehabilitate that property, as well. So there’s interesting ways to look at how you can get your money and what you can do with it.
TOM: And while all that sounds very wonderful, it is my job to warn you about the cons of buying a foreclosed property. Number one is it’s sold as-is. When you buy a house out of foreclosure, that means you’re buying the house as-is, warts and all. And some foreclosed homes have issues: severe structural issues or code violations or mechanical issues that can really cost you thousands to fix. I mean homeowners that are being evicted may have abused the home and not paid for needed repairs.
And the other risk is that, typically – or I should say maybe not typically but fairly often – you can’t get a real good home inspection on a foreclosed house because the utilities are off. And if the utilities are off, there’s a lot your home inspector cannot do. Cannot check the plumbing system, the electrical system, the heating system, the air-conditioning system and so on. So, a lot of risk there.
And then, lastly, the home actually might not go up for sale. If you’ve got your eye on a foreclosed home, keep in mind that it can take months or years for it to actually go up for sale and if it ever does at all. A lot of states give homeowners a lot of opportunities to catch back up on their mortgages, so you could be sitting on that house and stocking money away and expecting you’re going to have a shot at buying it. And guess what? It just never happens.
If you want some more tips, we’ve got a post on MoneyPit.com that outlines all this and a lot more. It’s simply called “Is it Bad to Buy a Foreclosed Home?” And it’s on MoneyPit.com. So check it out today.
LESLIE: Well, John is working on a project and he wrote in saying, “We had a very expensive summer due to high air-conditioning bills. And I’m considering adding two whirlybird turbine vents to my roof to help remove some of the heat in the attic. Is this the best way to cool the attic and hopefully reduce my air-conditioning costs?”
TOM: Ah. So, the difference between ventilation here and air conditioning – or the relationship between ventilation and air conditioning is not always a direct one. But here’s the situation, John.
First of all, sure, venting your attic is always a good idea when you have batt insulation. But those spinning vents that are spot-put – maybe one in one roof plane, one in the other roof plane – not the best choice. If you really want a good choice in insulation – I’m sorry, in ventilation – use a continuous ridge vent. Goes all the way down the peak of the roof. And soffit vents at the overhang so this way, air goes in the soffits, under the roof sheathing, carting away all that heat and out the ridge vent.
When you put those spinning vents in – and also, by the way, attic fans are even worse because they’ll draw air from the attic vents right outside and then it’ll reach down into your house and steal some of your air conditioning there – it’s definitely not as good as using a ridge- and a soffit-vent system. So, I would definitely recommend that.
But even before you improve that ventilation, take a look at your insulation. If you don’t have at least 19 inches of fiberglass-batt insulation or 22 inches of blown-in, you don’t have enough insulation. And if you want to keep your house cool, keep the hot side hot and the cool side cool, put in more insulation, as well.
LESLIE: Alright. Next up, Bryan wrote in saying, “I recently lost power to two rooms in my house. A friend had me test a few things and he said there’s a bad wire somewhere in the wiring. I would hire an electrician but we’re trying to save some money right now, so I’m going to have to do this job myself. Is there a device I can use to test the wiring in the house and find this bad wire? Better yet, how do I go about doing that?”
TOM: Yeah, you don’t. Look, there’s a reason electricians work for years before earning their licenses. Electrical work is hazardous. It is not for someone who simply considers themselves handy without having significant electrical experience. I get your desire to save money but listen, not only could this be dangerous to you, if you don’t fix this, it could be dangerous to your house.
In terms of checking things out further, there is one simple thing you can do before calling a pro and that is to pick up an outlet tester. Now, outlet testers are inexpensive and they’ll tell you at least whether your outlets are wired correctly. They can tell, for example, if the outlet is grounded or not grounded. They can tell if the wiring is reversed; it’s called “reverse polarity.” It can detect that. And if there’s a ground fault on the circuit, it can test the GFCI. But beyond that, you really need to have a pro to do the investigation, figure out what’s going on and fix it.
LESLIE: Yeah. You know, Bryan, when it comes to electrical issues, we’re all about trying to help you figure stuff out and wanting to tackle this yourself. But there’s also a risk of some serious injury here should something go wrong. And with electrical work, there’s great potential for something to go wrong. So, while we’d love to help you do it yourself, we also want to help you keep things safe at home. So we’re happy to tell you when this is something maybe you should ask a pro.
TOM: This is The Money Pit Home Improvement Show coming to you on air and online at MoneyPit.com. Hey, thanks a lot for spending a bit of time with us today. Hope that we’ve inspired you with some tips and advice to take on projects around your house. The fall is just ahead. It’s what we call the “Goldilocks season,” because it’s not too hot and it’s not too cold to take on projects inside and outside your house. So if you’re thinking that way and you’re starting to make some plans, we can help. Reach out to us anytime at 1-888-MONEY-PIT.
For now, that’s all the time we have. I’m Tom Kraeutler.
LESLIE: And I’m Leslie Segrete.
TOM: Remember, you can do it yourself …
LESLIE: But you don’t have to do it alone.
(Copyright 2022 Squeaky Door Productions, Inc. No portion of this transcript or audio file may be reproduced in any format without the express written permission of Squeaky Door Productions, Inc.)
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