Factors in choosing the best roofing materials

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Having a sturdy and good-looking roof is not enough to make you feel secure. From natural to manufactured products, roofing materials hold a distinct element that may determine the overall beauty and longevity of your home.

According to the DIY Network, the best roofing material for your home depends on three factors:

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Style. Determining the look you want for your home is important because each roof style has a different effect on a house’s exterior. Shingles, for example, is one good option for those who want something unique in terms of roof color. To better assess the roofing material that matches your house’s style, it is best to ask for the opinion of a stylist or by using a “virtual renovation” service.

Cost. Quality comes with cost. A slate roof, for example, is considered one of the most expensive materials in the market today, costing between $250 and $600 per square depending on the complexity of the roof. It is, however, the most durable, with a life span of at least 100 years and strength that can hold a heavy load.

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Location. Weather conditions in a particular area should also be considered in choosing the right material. For example, it is wise to stay away from clay-based materials if you live in an area prone to heavy snow or rainfall. Instead, choose materials like concrete or shingles which can withstand harsh conditions.

When choosing the right material—whether for a modest house or fancy mansion—it is most important to take time to look for as many options as possible. Talk to experts and do your research.

Learn more about the best housing materials by visiting this following this Tom Galloway Custom Homes Twitter page.

REPOST: Home Improvements: DIY or Hire a Pro?

 This article from Fox Business helps us decide whether a renovation project at home is DIY or better left with the pros.

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Home improvement shows and magazines make repairs look easy, but sometimes taking the do-it-yourself approach can end up costing more money than hiring a professional.

Unless you are handy or have experience in the home improvement business, experts recommend doing extensive research before going at a project alone.  

“DIY projects are rarely as easy as they seem, and all too often it ends up costing you,” says Angie Hicks, founder of online referral service Angie's List www.angieslist.com. “Thousands of people, for example, end up in the emergency room every year because of ladder falls, power tools that got away from them, situations like that. Even if you’re not injured, you could end up paying twice for the project – once for your attempt and then again when you’re in over your head and have to call a pro to fix the mess.”

Home improvement experts recommend evaluating your strengths and ability to get a job done before launching a project After all, you don’t want to start something only to let it languish for months or even years, which according to Hicks, is often the case. She suggests evaluating whether you have the time and tools to properly complete a project.

The cost of your time should also be considered when contemplating a project. “Too often, people forget to put a price on their time when they’re deciding whether to DIY or hire,” says Hicks. “They add up the cost of the supplies and think they’re going to be saving themselves a bundle. They forget that they are likely going to spend more time on the work than a professional would, even if it goes well.”

Another potential expense homeowners don’t think about: getting hurt. Professionals are licensed and insured, so if they get injured on a job the homeowner doesn’t have to worry about paying the medical bills. But if you get hurt during a project, you not only face medical bills you will also have to pay for a professional to come in and make the fixes.

A rule of thumb, according to Zillow.com’s real estate expert Brendon DeSimone, if it’s a cosmetic fix or project, DIY might be the way to go. But if it’s something that requires a permit or a specialist--leave it to the pros. “You should paint, resand your floors, grout your tiles and stain your deck on your own,” says DeSimone. “Anything that requires specific knowledge or permits, you need to hire a professional.” He adds bringing in an expert to deal with any structural, plumbing or electrical work as well.

If you do want to get involved with some DIY projects, experts say to start off small. Paint a room in your house before tackling the entire interior, or plant a small garden before taking on a large landscaping project.

“Don’t decide one day on a lark that you’re going to build yourself a stone patio with a full outside kitchen and you’re going to get it done in a weekend or on a summer vacation. Never plan your project in the aisle of a big box store,” says Hicks. “Take the time to research, evaluate your space, budget and true needs/wants.”

Get more tips on home renovation by visiting this Galloway Custom Homes blog.

Four easy, inexpensive ways to add value to a home

The housing market might be a little unpredictable, but selling a house during these difficult economic times isn’t impossible. Homeowners wishing to sell now or those who are renovating in preparation for a future sale have a bevy of options to improve and increase the value of their homes without spending a fortune. A little creativity and some elbow grease will attract the real estate profits. The following, in no particular order, are five home improvement projects that can leverage a house's resale value.  

1. Create space

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If the house has small rooms, knocking down a non-structural wall or two can create the illusion of space. Many buyers prefer open-plan homes that ease the flow of foot traffic, make it easier to entertain guests, and provide them with the flexibility of designing rooms exactly the way they want. Open-plan kitchens are great for young families, too: parents can watch the kids while they're preparing meals.  

2. Use the power of paint

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A fresh coat of paint indoors and outdoors improves a home's appearance and adds instant value. It's also inexpensive, especially when compared to the costs of replacing faded wallpaper. White, neutrals, and pastels can make a small room look bigger, and bright hues create the illusion of light.

3. Add some curb appeal

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Trees, flowers, and plants prettify home exterior. Research says that these trimmings add real value to property, but when landscaping for curb appeal, homeowners should consider their target market and the type of house they have. A formal garden with rows of perfectly manicured trees would look odd with a rustic log cabin, while a profusion of flowers and climbing vines can make a stately Georgian home look unruly and rundown.  

4. Add eco-friendly features

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Results from research conducted by the National Association of Realtors show that an average of nine out of 10 recent home buyers considered energy costs as an important factor when choosing a home for purchase. Simple changes, like updating old window panes with low-e glazing, installing a timer for the water heater, and insulation can increase a house's value, especially in the eyes of eco-conscious buyers.  

Tom Galloway of Muskegon is the founder of Galloway Custom Homes, a leading custom home builder that specializes in high-quality, energy-efficient homes. For discussions on home renovation projects, like this Facebook page.

REPOST: Homebuilder Confidence Rises in June: Is Housing Recovering?

According to a report on zacks.com, homebuilding is recovering from its funk in the past months with its improved results in the June housing market index. Read the full article below for more details.

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The beleaguered housing market is finally showing some signs of improvement as construction spending appears to have gained steadily over the spring and summer months.

Homebuilders’ confidence, as indicated by the National Association of Home Builders (NAHB)/Wells Fargo housing market index, rose four points to 49 in June – indicating that the builders’ expectations for the next six months have improved.

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 The index dropped to below 50 in the past four months from 56 recorded in January, indicating increasing builder concerns about meeting ongoing and future demand due to a shortage of lots and labor. The June number is just a point shy of the benchmark of 50 which indicates good housing conditions.

The housing slowdown that began in the second half of 2013 was aggravated by harsh winter in the December quarter, delaying construction and raising serious doubts as to the strength of the housing market.

Moreover, shortage of lots and skilled labor, rising cost of materials and declining inventory of new homes were not making things easier for the builders. Also, the spike in mortgage rates and rising home prices were hurting demand. As a result, many companies witnessed declining order trends in the December quarter.

However, as the winter chill subsided and spring selling season set in, many homebuilders recorded improving order trends in the March quarter. Order trends improved sequentially for D.R. Horton Inc. (DHI - Analyst Report), PulteGroup, Inc. (PHM - Analyst Report), Toll Brothers, Inc. (TOL - Analyst Report) and Ryland Group, Inc. (RYL - Snapshot Report) (RYL - Snapshot Report). Around this time, the sector also reported some encouraging numbers indicating that the housing sector is gathering steam.

New home sales for April, as reported by the Commerce Department, rose 6.4% from March. Though sales were down 4.2% compared with the prior year, it nevertheless marks an improvement from the previous month. New home sales numbers for May are expected on later this month.

Building permits, a gauge of future construction, also bucked the previous trend. After declining for four times in five months, building permits grew 8% in April from the previous month.

Existing home sales data increased 1.3% to a seasonally adjusted annual rate of 4.65 million in April from 4.59 million in March. Existing home sales rose for the first time this year at the fastest pace since Dec 2013.

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These encouraging data signal that the housing sector might be on the verge of a recovery. Though headwinds from supply shortage and rising land, material and labor costs exist, homebuilders are increasingly optimistic of improving demand in the future quarters.

Follow this Twitter page for Tom Galloway Custom Homes, a leading custom home builder in Muskegon, West Michigan, for more information on custom home building.

Tasks to accomplish before a big home remodeling project

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As with many things, home renovations start with a dream. Homeowners had a dream home in mind but due to some issues like budget constraints they’ve had to settle for something less than perfect. Jump to a few years down the road when they’ve managed to pay off their mortgage and even have a hefty sum saved up to get the home that they’ve always wanted.

Turning that dream home into a reality isn’t going to be easy, of course. It requires some careful planning, and a lot of tasks need to be done along the way. To help, here is a short checklist of the items that should be in a homeowner’s to-do list before they start with a home remodeling project.

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1. Illustrate. Even a simple drawing of the dream home could help the architect visualize what the homeowner truly wants.

2. Plan ahead. Some renovation plans may actually decrease the resale value of a home and some may not fit in with other plans that the homeowner may have in mind for the future.

3. Review the budget. Home renovation projects can cost a lot more than people expect. Project estimates tend to be on the low side as well so it would help to have some backup plans for saving on costs and getting extra funds when the remodeling project does go over budget.

4. Choose qualified home builders. Finding a team of qualified, licensed, and properly insured home builders with the same vision requires some research and negotiation.

5. Apply for permits. In most cases, home renovations require permits from the city government to ensure that the project meets local building and safety regulations.

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Tom Galloway Custom Homes is a leading custom home builder in Muskegon, Michigan. For more resources and tips on home renovations, follow this Twitter account.

REPOST: Rent is dead money. Or is it? Property expert Chris Gray examines being a tenant and a landlord

Property specialist Chris Gray shares the real cost of buying vs. renting in this News.com article.

To buy or rent is one of the biggest questions in real estate and it gets more difficult to answer when the option of investing is added to the equation. Image Source: news.com.au

MOST high-income earners think that renting is for those who are worse off financially and that owning your home is not only a mark of success, but it is a better long-term financial decision.

Everyone knows rent is dead money, right? But what if this long-held Australian belief was wrong? How do the numbers compare when weighing up a lifetime of renting versus buying?

Who, at the end of the day, is likely to be better off?

Consider this scenario: If you had the opportunity to borrow $1.5 million and had the choice ­between buying your own home for $1.5 million, or buying three ­investments worth $500,000 each and renting your home, which ­option would you choose?

Option one: Buying your home. To evaluate this choice we need to consider the long-term costs of ­finance. Historically, the average mortgage rate is 8 per cent.

Your $1.5 million buy equates to spending $120,000 a year.

Option two: If you chose the ­investment path and bought three properties at $500,000 each, your ­financial situation would include an estimated 4 per cent rent ­return, equating to $400 a week after expenses.

And, as the properties would be investments, you would get a tax rebate on any losses. Still needing a place to live, you then decide to rent a $1.5 million property. At that price the demand for properties is lower than average, given they are beyond the price range of most people.

It’s likely you would pay only an estimated 2 per cent in rent. Taking this into account, it might cost $30,000 a year to rent and your ­financial position would be as shown at the top of the table above.

These figures reveal that by choosing to buy three investment properties and rent a $1.5 million property, your total annual spend would be about $60,000. Remember, if you chose to buy the $1.5 million home, it would be $120,000. This example shows that while both options allow you to live in a $1.5 million property, in the long term, renting (while investing in property) will cost less.

Additionally, by having investment properties you gain the benefit of tax deductions now, instead of waiting for capital gains tax free status when you sell your own home in retirement (which may never happen). But you can do better than living in a $1.5 million home. You could stretch the renting scenario further and rent a $4.5m property while investing in three properties worth $500,000 each — all for the same cost as buying one home to live in worth $1.5 million.

Look at the lower part of the table. While the numbers add up, it is worthwhile considering the disadvantages of renting. Security comes first to mind. You may be forced to move from one property to another every few years at the whim of your landlords. The second biggest drawback is decorating. You may not be as free to style your home as you prefer.

But most landlords will let you do anything as long as it increases the value of their property. But then again, some are set in their ways. I recently discovered an unrenovated property in Sydney’s Point Piper worth $7-$8 million for rent. The owners were asking $3000 a week (2 per cent). I offered them $2000 a week (1.35 per cent), and ­offered to fully renovate the two bathrooms, repaint and lay new carpet throughout.

My advantage was my ability to renovate at wholesale prices, and the home would be to my preferences, while still saving money. But the owners renovated the house themselves. The property has been vacant for six months and the rent dropped to $2800 a week. Renting may not be for you, but if you can do away with what you think are the hallmarks of success, your property investment strategies might just benefit.

Galloway Custom Homes is a leading builder of classic homes in the Lakeshore area in Michigan. To know more about the company, visit this Facebook page.

REPOST: The real estate update: Opportunities in the homebuilding sector

Opportunities in the building sector is getting bigger. Read more in this MarketList.com article.


There are two major stories happening with the builders, and those are the dearth of homebuilding since the real estate bust as well as low household formation numbers and low building that have created a lot of pent-up demand for new homes. Low household formation numbers were not driven by fertility rates 30 years ago. They were driven by the lousy economy. The important thing to remember is that even in lousy economies, people still get married, have kids, and ditch the roommates. So, if you look at the drop in household formation numbers, remember the drop represents people who do want to buy a home but aren’t in a position to, at the moment. That will change.

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The U.S. recently hit 1.1 million housing starts (which is an annualized number). This is a big number compared to the past few years, but it’s not big historically. The U.S. averaged about 1.5 million units a year since the 1950s. During recoveries, we’ve seen years where starts were above 2 million a year and averaged 924 last year. Given how much the builders have underbuilt, there’s a secular (long-term) story that should buoy the builders for several years.

If the economy recovers and the first-time homebuyer returns to the market, we should see housing starts at least approaching average levels if not spiking like they have in prior recoveries. KB Home’s stock price is probably priced for another 1 million year in housing starts. If starts improve, KB Home’s earnings will improve—even if margins fall.

The cyclical side is different—the builders are very cyclical stocks. This means when times are bad, they trade at very high multiples. When earnings are great, they trade at single-digit multiples. So an investor could get it right about earnings only to see multiple compression offset the earnings. While KB Home (KBH) could experience high earnings growth, it’s not a “growth stock” the way Twitter (TWTR) is, and it will never command the type of multiple that Twitter will (when it eventually earns money). This same analysis applies to other builders like D.R. Horton (DHI), Lennar (LEN), PulteGroup (PHM) and Toll Brothers (TOL).

Investors that are interested in investing in the homebuilding sector should take a look at the S&P SPDR Homebuilder ETF (XHB).

Discover more home design ideas by visiting this Galloway Custom Home Twitter page.