Kathy Portway - SUCCESS! Real Estate



Posted by Kathy Portway on 5/20/2019

You may not think much about your hot water heater. Unless of course, your hot water heater ends up breaking down. Hot water is so important in our homes, yet we take this resource for granted. Hot water does a lot in our homes from clean our laundry to disinfect our dishes to heat up our showers. We use it without thinking about it.  


If you neglect your hot water heater it can cause some costly damage to your home. Your basement could end up flooded. Pipes can burst. You can be without the use of hot water for days- even weeks- if youíre not vigilant about taking care of your hot water heater. 


Once water is gushing from the source, the best course of action is to simply shut the water off to your home. Before you even get to that point there are some tell tale signs of damage to your hot water heater that can be detected before major issues arise. First, if you notice any type of water around your hot water heater, you should get it checked out. Donít look at it as ďno big deal.Ē Any type of moisture or water stains around the water heater itself are a sure sign that something isnít right with the unit.


As a homeowner, you should know just how old your hot water heater is. Usually, the installation date on the heater is noted somewhere along with the serial number. The typical hot water heater lasts about 9-11 years. If you live in an area with hard water, this number can vary.   



The Cleanup


Once the damage is done to your hot water heater youíll likely have a large cleanup project on your hands. Youíll need to call water extraction services that will help dry out the area and clean up any baseboards that can become hazardous. Sometimes, these projects can get a bit bigger than youíd ever expect. After the water is pumped out, the cleanup has only just begun.  


Why Hot Water Heaters Fail


The minerals from water tend to build up (especially in the case of hard water) and cause the unit to rust out form the inside. While the inside of the tank contains glass, it does have metal pieces that can rust. You can replace certain parts of the hot water heater from time to time to keep it in good working order, the best prevention is to replace your water heater when the time is right. Donít let the unit sit until way past its expiration date.


Being The Homeowner


As a homeowner, you probably wonder if something like a broken water heater were to happen if your insurance would cover the cost of the damage. The insurance will cover the cost of cleanup and repairs. The insurance will not cover the cost to replace the hot water heater or any labor costs. The only way the entire cost would be covered is if you have a home warranty. 


A simple thing that you can get to help alleviate major damage to your home from a hot water heater is to get an alarm. This little device is inexpensive and will alert you when any water hits near the areas of the alarm. This could save you a lot of costly damage and repairs. The most important thing that you can do in your home to prevent major damage from a hot water heater is to stay vigilant and keep on top of maintenance and replacement timelines.           





Categories: Uncategorized  


Posted by Kathy Portway on 5/19/2019


10 Granite Street, Taunton, MA 02780

Multi-Family

$389,900
Price

3
Units
2,741
Approx. GLA
If you are looking for a way in to home ownership, THIS is a perfect opportunity. New to the market is this 3 family style home located in Taunton. First two floors are spacious living quarters with three bedrooms each. Mostly carpet, tons of windows, and great kitchens with plenty of space for tables. Renovation is needed for the two bedroom, third floor unit. But there is storage in basement, great outdoor space, carport, porch, AND a convenient location! Water heaters are within two years old. Furnaces are between twelve to fifteen years old. Current tenants have lived here for years and would love to stay! Think of the potential income!
Open House
No scheduled Open Houses

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Categories: New Homes  


Posted by Kathy Portway on 5/19/2019

If you are looking for a way in to home ownership, THIS is a perfect opportunity. New to the market is this 3 family style home located in Taunton. First two floors are spacious living quarters with three bedrooms each. Mostly carpet, tons of windows, and great kitchens with plenty of space for tables. Renovation is needed for the two bedroom, third floor unit. But there is storage in basement, great outdoor space, carport, porch, AND a convenient location! Water heaters are within two years old. Furnaces are between twelve to fifteen years old. Current tenants have lived here for years and would love to stay! Think of the potential income!

More Info on this Property | New Listing Alerts




Categories: Uncategorized  


Posted by Kathy Portway on 5/14/2019

This Condo in Norton, MA recently sold for $250,000. This Townhouse style home was sold by Kathy Portway - SUCCESS! Real Estate.


23 Winnecunnet Drive, Norton, MA 02766

Condo

$249,900
Price
$250,000
Sale Price

5
Rooms
2
Beds
1/1
Full/Half Baths
OFFERS DUE BY 5:00 PM ON WEDNESDAY PLEASE! Condo living never looked so good! Quaint brick walkway leads to an amazing home for you. Large step down living room has brand, new, carpeting, stunning cathedral ceiling and gorgeous windows. Gleaming hardwoods span from the entryway through to spacious eat in kitchen with plenty of cabinetry and a pantry. Upstairs you will find two great size bedrooms, a full bath, office area and laundry. Not one but two decks to enjoy the outdoors whether itís with your coffee and the paper or dinner with family and friends there is plenty of space. Interior was just painted from top to bottom. Exterior scheduled to be painted this summer. Central air is perfect for those hot summer nights. Furnace and AC are three years old. Washer, dryer, refrigerator and electric fire place will remain as gifts. Detached garage is an added bonus. Nothing to do but move in. Call today.

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Tags: Norton   Real Estate   02766   Condo  
Categories: Sold Homes  


Posted by Kathy Portway on 5/13/2019

You know when you buy a home that your credit score matters, but do you see all of the numbers that matter to your financial picture when youíre buying a home? Your debt-to-income ratio is one of the most critical figures that will influence if you can get a mortgage and what type of rate you can get. 


What Is A Debt-To-Income Ratio?


This number is exactly what it states: the ratio of debt divided by your gross monthly income. Your credit report doesn't include any of this income information. This number is actually the best way to see if youíre living within your means or not. This way, your lender will know your monthly debt payments along with your monthly income.  


If your ratio of debt is high, you may not get a loan or get less desirable interest rates than if you had lower amounts of debt. Even if you have a high credit score, your debt-to-income ratio could affect these things. In reality, a higher debt ratio will make it harder for you to pay back your debt, so itís important to you. 


How Itís Calculated


You can use an online tool to help you calculate your debt-to-income ratio. You can also use a simple formula if youíre up for doing some math yourself:


Divide your monthly debt payments by your monthly gross income then multiply that number by 100. For example:


Student loans: $400

Car loan: $300

Rent: $700

Income: $4,000 


1400/4000= 0.35 x 100= 35%


Household Ratio


You should also be aware of something called your household ratio. The household is the amount of home-related expenses which includes property taxes, prospective mortgage, home insurance, and more. These costs are divided by your monthly income to get this ratio as well. Obviously, your household debt adds to your financial commitments and is also put into consideration by your lender.    



Whatís A Good Debt-To-Income Ratio?


Itís ideal that you keep your ratio less than 36%. Your household ratio should be even lower than this. Itís great to be debt free, but in the real world, thatís not always possible. Your best bet is to be responsible with your finances and work on paying your debt down as much as you can. Then, little by little all of the critical numbers that are required to get a mortgage will fall into place.