Lending Archives - Residence HQ https://residencehq.com/category/lending/ Your Dream, Our Team, Lets Do It! Tue, 31 Jan 2023 09:53:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://residencehq.com/wp-content/uploads/2023/06/cropped-rhq-smallest-32x32.png Lending Archives - Residence HQ https://residencehq.com/category/lending/ 32 32 What are things to look for in Rental Listings? https://residencehq.com/rental-listings/?utm_source=rss&utm_medium=rss&utm_campaign=rental-listings https://residencehq.com/rental-listings/#respond Tue, 31 Jan 2023 09:53:55 +0000 https://residencehq.com/?p=51475 Lackluster listings abound — learn to cut through the clutter and spot the keepers. Whether you’re looking for a rental apartment, single-family house or townhome, be prepared to spend a lot of time online and even more time driving around to tour the most promising places in person. If you want to save time and avoid […]

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Lackluster listings abound — learn to cut through the clutter and spot the keepers. Whether you’re looking for a rental apartment, single-family house or townhome, be prepared to spend a lot of time online and even more time driving around to tour the most promising places in person.

If you want to save time and avoid headaches, make sure that every rental listing you consider has all the information you need to make an informed decision. High-quality listings help you weed out the places that don’t fit your criteria (wait, Fido’s not welcome?), but they also indicate an organized, communicative and professional landlord — something every renter wants.

As you begin your search, consider these five important things every good rental listing should contain:

1. Detailed rental details

Front and center should be the number of bedrooms and bathrooms, square footage, storage space and a floor plan to help you visualize the layout. Bonus points if there is a 3D tour. Did you know you can filter rental listings to only show ones that include a 3D tour?

Avoid listings with vague terms like “junior one bedroom” or “open one bedroom.” 68 percent of renters require their preferred number of bedrooms. Landlords know this, so they get creative with descriptions to attract more tenants.

If you’re moving to a new part of town or an entirely new city, look for listings with important facts about the neighborhood, including proximity to transit or major freeways, convenient shopping centers, and nearby recreation and entertainment options. Don’t rely solely on the listing description itself — test out things like walkability and commute.

2. Your must-have amenities

It may seem obvious, but nice-to-have in-unit amenities, like recent renovations, hardwood floors, plenty of windows and upgraded kitchens can sometimes overshadow the fact that the necessities aren’t there. Beyond basics like heating and kitchen appliances, every renter has different amenities that they consider must-haves. Does the listing you’re browsing have yours?

The most popular amenities renters look for include air conditioning, in-unit laundry, ample storage and private outdoor space. Shared amenities should be included in the listing too — things like parking, rooftop decks, fitness areas, outdoor space, swimming pools and bike storage.

3. Major (and potentially problematic) rental policies

The listing should disclose any policies that could be a deal breaker for you. Examples include rules around pets (including specific breeds), the maximum number of people who can live in the unit, smoking, parking, noise and — most importantly — lease terms and length.

Additionally, see if you can tell if the landlord lives on-site or if a local property management company manages things. If the landlord is nearby, they’ll likely handle repair requests quickly, along with general building upkeep and maintenance.

4. Clearly described costs

Make sure the landlord is exceptionally clear about the dollars and cents:

  • What is the monthly rent?
  • How much of a deposit is required, and is any of it refundable?
  • Are there any one-time fees?
  • Is there a pet fee or monthly charge?
  • Does parking cost extra?
  • Who pays for utilities?

These additional charges can quickly move a listing from feasible to fruitless, so make sure you have all the info you need to do the math ahead of time.

5. High-quality photos

Focus on listings that have not only good photos but also recent photos — and lots of them.

Look for listings that include both interior and exterior shots, plus photos of all shared amenities. But renter beware: If the landlord says the photos are of a similar unit — not the one that’s actually for rent — you may find yourself looking at a phantom property or in a bait-and-switch situation.

Once you find a few listings that include these details, you’re off to a great start. You can more easily compare properties side by side, identify deal breakers and find areas where a landlord might be open to compromising.

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How to get Rid of Smoke Smell before Selling House? https://residencehq.com/get-rid-of-smoke-smell/?utm_source=rss&utm_medium=rss&utm_campaign=get-rid-of-smoke-smell https://residencehq.com/get-rid-of-smoke-smell/#respond Sat, 26 Nov 2022 14:23:49 +0000 https://residencehq.com/?p=51342 To truly de-stink your house or apartment, you must remove the source of the problem. Whether you’re a smoker and you’re trying to sell your house, or you’ve just purchased a place that reeks of cigarettes or marijuana, there are steps you can take to get rid of the smoke smell. For starters, understand that […]

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To truly de-stink your house or apartment, you must remove the source of the problem. Whether you’re a smoker and you’re trying to sell your house, or you’ve just purchased a place that reeks of cigarettes or marijuana, there are steps you can take to get rid of the smoke smell.

For starters, understand that spraying room fresheners or burning scented candles will only mask the odor temporarily. Opening windows to provide some ventilation will help dilute the smell, but it won’t remove it permanently.

To truly de-stink your house or apartment, you must remove the source of the problem. That’s easier said than done because smoke particles can be smaller than one-thousandth the width of a human hair, which means they can penetrate almost any surface in any room in your house.

You didn’t smoke in your bedroom? Chances are smoke got in there anyway. Tobacco smoke can easily circulate through your home’s ventilation system. If you live in an apartment building or condo, it’s possible tobacco smells from other tenants’ units can travel through central ventilation systems, pipe shafts or cracks in the walls until — bam — your place smells like smoke.

Getting rid of the stench isn’t easy, but if you’re trying to sell, it’s imperative.

House hunters are never really sure if they’ll be able to get the smoke smell out of a property, so it’s a huge turnoff for potential buyers, It takes some work, but the best thing you can do is eliminate the smell before you put your house on the market.

It’s likely you’ll need a multi-prong approach to tackle the problem. These odor-ridding tips come from the National Association of Home Inspectors, Texas A&M AgriLife Extension Service and University of Kentucky Cooperative Extension Service.

How to get rid of smoke smell in the house:

Open windows and turn on fans to remove smoke

Ventilation is the first step in eliminating or diluting any household odor, especially smoke. If your windows do not provide sufficient ventilation, prop open exterior doors with fans that face outward to pull out the stale air.

Wash all interior walls and hard surfaces

Use a mild soap or other appropriate cleaning solutions or products, and rinse thoroughly. Don’t forget to clean inside cabinets, drawers and closets.

Use a dry chemical sponge on other surfaces

Also known as a dry cleaning sponge or soot sponge, dry chemical sponges can be used to remove smoke residue from ceiling tiles, lampshades and other materials that can’t get wet.

Steam-clean upholstery from smoke

Special deodorizing shampoos works to remove smoke and other odors rather than simply making them with another scent.

Set small bowls of vinegar around the house

Similarly, set bowls filled with kitty litter or baking soda throughout the home to help absorb odors like cigarette smoke. You can also dampen a dish towel with vinegar and wave it around the room for a minute or two.

Repaint surfaces to trap odor

Keep in mind that it’s possible for odors to gradually seep through paint barriers. A matte finish polyurethane sealant will provide good odor protection without altering the sheen of the newly repainted wall.

Remove carpeting because of smoke smell

It is nearly impossible to remove cigarette smoke particles from carpeting. Thoroughly scrub the flooring beneath before installing new carpet. If the carpet cannot be replaced, have it professionally cleaned.

Replace curtains or have them professionally cleaned

You can also soak blinds in a bathtub full of all-purpose cleanser, scrub thoroughly and hang to dry.

Clean or change light bulbs

In the same way that some scent diffusers rely on heat from light bulbs to disperse the aroma of the scented oil, the oily residue from nicotine and other cigarette byproducts can be dispersed throughout your living space.

Wash windows

The heat that comes from sunshine can warm smoke-covered windows and disperse the smell throughout your house.

Replace heating and air filters

Filters tend to harbor cigarette odors and other irritants. Changing these more frequently than usual can help improve air quality of a smelly home.

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5 Ways to Refresh Your Space https://residencehq.com/ways-to-refresh-your-space/?utm_source=rss&utm_medium=rss&utm_campaign=ways-to-refresh-your-space https://residencehq.com/ways-to-refresh-your-space/#respond Wed, 23 Nov 2022 06:31:47 +0000 https://residencehq.com/?p=51339 Throw open the curtains, let the breeze in, and brighten your home decor. With springtime comes a sense of renewal and a desire to clean, organize and refresh — especially if you’re spending a lot of time at home. Get your creative gears turning, and whip your space into shape. You’ll be surprised how a few […]

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Throw open the curtains, let the breeze in, and brighten your home decor. With springtime comes a sense of renewal and a desire to clean, organize and refresh — especially if you’re spending a lot of time at home. Get your creative gears turning, and whip your space into shape. You’ll be surprised how a few simple changes can give you a new outlook.

1. Embrace natural light

Create the feel of windows with large mirrors. Photo via Laurel & Wolf.
Create the feel of windows with large mirrors.

With warmer days comes more sun, so open those blinds and bask in the natural light. Instead of flipping on your lights in the morning, pull back the curtains and let sunshine light the way. Opening your windows can help lift your mood, and you’ll save a little on your electric bill too.

Don’t have many windows? Fake it by using large mirrors to reflect light and brighten up your room. Bonus: mirrors also give the illusion of a bigger space, making your home feel brighter, more extensive, and more transparent.

2. Give your furniture a clean slate for Space

All white furniture creates a spring vibe in a living room. Photo via Laurel & Wolf.
All-white furniture creates a spring vibe in a living room.

Spring is the perfect time to break out all of your lighter and cooler clothes — and this also goes for furniture. A white, beige or light gray couch is the perfect nesting spot.

Light neutral chairs set the tone, reflect light and keep you from getting too warm. If desired, you can keep these pieces out year-round to invoke springtime memories and stave off wintertime blues when skies are gray. If you don’t want to commit to white furniture, invest in slipcovers that you can use seasonally and remove once colder temperatures return.

3. Let nature be your guide for Space

Wickers and wovens are materials that work through spring and well into summer. Photo via Laurel & Wolf.
Wickers and wovens are materials that work through spring and well into summer.

Incorporate lightweight natural materials into your decor — think wicker, woven baskets, light wood grain, and cotton curtains. Keep it airy and light, leaning on nature to inspire you.

Switch out heavy blankets for summery throws, and pack away heavy, dark decor items in favor of woven baskets paired with colorful or nature-inspired accessories. Adding earthy materials to your home invokes nature inside and out for a fresh and renewed feel.

4. Pack some punch with pops of color

Spring is the perfect time to ditch all those moody blacks and grays of winter, and trade them in for something a bit cheerier. Oranges, pinks, yellows, purples, blues and greens are all colors that recall spring and sunshine. Pick your favorite hue from the rainbow and run with it. Try a few peachy throw pillows, springy green candles or periwinkle decorative bowls.

Step out of your comfort zone and try a bold statement, or keep it cool with subtle hints of something you know you love. You’ll be surprised how much your mood lifts when you’re surrounded by a sea of pretty shades.

5. Go green and breathe deep

Adding potted plants, bouquets of flowers and herb gardens to your home is a great way to bring the outdoors in. Not only do they provide beautiful focal points and improve your mood, they also give off little hits of oxygen — so breathe deep.

Hit up your local farmer’s market for pretty blooms on the cheap, or grow herbs in windowsill pots. And for all those black thumbs out there, faux plants will still give off a fresh green look, but without all the hassle and maintenance.

Whether you’re looking to freshen up a couple of rooms in your house or overhaul your whole space, there are easy steps you can take to get your home spring-ready. Give yourself a new outlook and a fresh perspective by taking the time to rejuvenate your space and your mindset.

From mixing up colors to looking to nature for inspiration, you can completely transform your home into a sunny, light and airy space.

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Is Fall a Good Time to Buy Home? https://residencehq.com/fall-good-time-to-buy-home/?utm_source=rss&utm_medium=rss&utm_campaign=fall-good-time-to-buy-home https://residencehq.com/fall-good-time-to-buy-home/#respond Sat, 19 Nov 2022 14:38:20 +0000 https://residencehq.com/?p=51335 If you were deterred by stiff competition in spring and summer, know that things may look a little different in Fall 2022. Fall tends to be a good time for buyers, and this year could be especially good for buyers sidelined by fierce competition and a shortage of homes over the past two years. The […]

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If you were deterred by stiff competition in spring and summer, know that things may look a little different in Fall 2022. Fall tends to be a good time for buyers, and this year could be especially good for buyers sidelined by fierce competition and a shortage of homes over the past two years. The double whammy of higher mortgage interest rates and climbing home prices has made buying more expensive. But the higher costs of buying have thinned the ranks of home shoppers, which has lowered the prices sellers can command.

U.S. home values fell 0.1% from June to July 2022, the first decline in home value metric since 2012. The drop in values over the course of a month showed up in 30 of the 50 largest metro areas, but values in those areas are still up 16% from a year ago.

Home values flattening so quickly after recent record growth might surprise, but it’s a badly needed rebalancing that gives home buyers more options, more time to shop and more negotiating power. Home values flattening so quickly after recent record growth might surprise, but it’s a badly needed rebalancing that gives home buyers more options, more time to shop and more negotiating power. That could mean more options to tour and more time to find the right house, and you’re less likely to face a bidding war,

If you’re in the market for a home, here are six reasons why this fall could be a good time to buy.

1. The number of homes for sale is expected to keep increasing

Though inventory still remains below what it was in 2019, the number of homes for sale has been rising steadily this year, driven in part by homes lingering on the market. In general, this could mean having more options, and potentially competing with fewer buyers when you find a home you fall in love with. 

Of course, the level of competition will depend on where you’re searching. Extremely expensive cities and those with the largest run-up in prices over the last two years  — San Francisco, Austin, Phoenix and Seattle — have inventory levels closest to where they were in 2019. This means that competition in these housing markets is easing up more quickly than elsewhere in the U.S.

Be mindful that competition in general typically dips in the fall season; shoppers with young children tend to want to settle in before school starts up, so by summer, many families have either already moved or paused their shopping if they have that luxury. 

 2. The possibility of price cuts on older listings

Fall is traditionally when home shoppers are more likely to score a deal on a home. Listings that have been sitting on the market for weeks or months typically start to see price cuts.

Heading into this fall, the share of homes with price cuts has risen dramatically: nearly 19% of listings across the U.S. have experienced a price cut — the highest level since November 2019. Salt Lake City (32%), Phoenix (29%) and Las Vegas (29%) are seeing the highest shares of listings with price cuts.

3. You could have more time to shop

The number of homes sold also is slowing down, mainly because fewer buyers can afford them. Phoenix, Las Vegas and San Jose saw the largest month-over-month drop in newly pending sales from June to July 2022. The nation’s least expensive cities and surrounding metro areas were among those with the smallest monthly drop in home sales.

It took 10 days for a listing to go pending in July, two days longer than in June. The sales slowdown means that buyers have slightly more time to shop, compare and evaluate options. 

4. Home price appreciation is easing

After a year of skyrocketing housing prices, the pace of home price growth is slowing. The slowdown is notable given the white-hot market of 2021.  

The annual rise in home values — which clocked in at 16% in July — is predicted to drop to 2.4% by July 2023. The typical U.S. home value now stands at $354,165.

Mortgage interest rates, which saw a steep run-up mid-year, coupled with the spike in home prices over the past two years, are likely driving the slowdown in price growth.

Demand for the lowest-priced homes is strongest across the board, while price cuts are most common for middle- and high-priced homes, according to an analysis.

5. Sellers may want to close by year-end

A home is where you live and make memories, but it’s also an investment — one that comes with tax consequences.

A home seller may want to take advantage of a gain or loss during this tax year, so you might find homeowners looking to make deals so they can close before December 31. Ask why the seller is selling, and look for listings that offer incentives to close before the end of the year.

Bonus: end-of-year deals on big-ticket items such as appliances could help cut your move-in costs if the home’s appliances are dated or not included in the sale.

6. Fall weather can reveal flaws you’ll want to know about before you make an offer

Depending on your climate, the fall and winter months tend to reveal a home’s flaws, making them a great time to see a home’s true colors. For instance, in colder months, you’ll be able to tour a home and learn whether the furnace creates heating dead zones. You’ll also be able to see if the house is drafty or if there are structural issues that might otherwise be hidden by bushes or flowers.

It’s better to see the home’s flaws before making the offer, instead of being surprised months after you close. In fact, the best time to do a property inspection is in the rain and snow, because any major issues are more likely to be exposed.

How mortgage interest rates factor in

Interest rates rose sharply in the early part of 2022 and briefly reached 7% in early October before a slight decline. While it’s a sharp jump from pandemic averages, it’s also close to recent historical norms. Rates were closer to 5% as recently as late 2018, and they consistently hovered between 7% and 8% for much of the 1990s. They hit the high teens through much of the 1980s.

Still, the change in interest rates can make a home that was affordable six months ago now fall out of or in the upper range of a shopper’s budget. But higher rates have a somewhat cyclical effect: demand for homes decreases because buying has become more expensive. That reduced demand can, in turn, lead to price cuts on homes, which could potentially put that out-of-budget home back within reach.

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How to Easily Paint the Exterior of your Home? https://residencehq.com/easily-paint-home-exterior/?utm_source=rss&utm_medium=rss&utm_campaign=easily-paint-home-exterior https://residencehq.com/easily-paint-home-exterior/#respond Sun, 13 Nov 2022 04:39:32 +0000 https://residencehq.com/?p=51296 Refresh your home’s exterior for spring with a new paint job. Our step-by-step approach divides the work so you won’t feel overwhelmed. With the cost to paint a house’s exterior averaging about $2,500 nationally, homeowners longing for a new look may be considering their DIY options. You don’t need to be particularly handy to make […]

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Refresh your home’s exterior for spring with a new paint job. Our step-by-step approach divides the work so you won’t feel overwhelmed. With the cost to paint a house’s exterior averaging about $2,500 nationally, homeowners longing for a new look may be considering their DIY options.

You don’t need to be particularly handy to make your home’s exterior look like new. All you need is some spare time between now and summer. You can wash your house in a day, prep it in a weekend, and finish giving it a dazzling makeover over the course of a few weeks (and for about one-fifth of the cost to hire pros).

1-day project: Wash your house

If you aren’t already washing your siding once a year, now is the time to start. This will remove any mold and mildew, expose any potential problems and get the surface ready for prep work and painting.

  • A pressure washer is the most popular cleaning tool, thanks to its powerful spray — but it’s not a magic wand. In addition to patience, you’ll also need protective eyewear, a couple of five-gallon buckets, a pressure-washing cleaning solution and a stiff brush.
  • Soak the surface first to loosen up debris, and then start cleaning with a wide, sweeping motion, from the bottom to the top of each wall.
  • To prevent damage, start spraying at a distance of 10 feet and work your way in. Wash windows, garage doors and cracked seals at the lowest setting or by hand.
  • If that big, loud pressure washer leaves you feeling a little gun-shy, you can get the same results with a scrub brush, bleach solution and garden hose.

Weekend project: Make repairs

Once you’ve thoroughly cleaned your home’s exterior, use the next weekend to prepare it for a paint job. On Saturday, sand, fill and weatherproof the surfaces. On Sunday, cover any stains with primer.

  • Using a sanding block and razor blade, remove any protruding burrs or paint drips. To speed up the job, use a rotary tool or power sander.
  • Patch and fill holes with the filler that’s appropriate for your siding. For example, you can use wood filler on wood, but fiber cement siding (sometimes known as Hardie Board) requires cement patch. Sand when dry.
  • Replace old caulk with either a small putty knife or painter’s tool. Apply the caulk slowly for a smooth bead, using a damp rag to wipe up the excess. Practice in an inconspicuous area if needed.
  • Replace any rotted trim or siding immediately. This will definitely add some time and cost to your project, but it sure beats painting over rotted wood and a colony of termites.
  • Spend Sunday applying primer, following the manufacturer’s instructions. Even if you plan on painting with a two-in-one paint that includes primer, old paint jobs and stained areas will still need a layer of primer to help paint adhere. If you run out of prime-time this weekend, finish when you kick off the next project next weekend.
  • In the meantime, do some planning. Decide on a paint palette with two or three colors (base, trim and accent) and get ready for the fun part.

Month-long project: Exterior Paint!

Once your exterior is washed and prepped, give it a total overhaul with new paint, trim and accents.

Week 1: Upgrade the front door casing

  • Once you’ve found the perfect style, take measurements and plan out the placement on paper before purchasing and cutting the lumber.
  • If feasible, purchase rot-resistant PVC trim. Pressure-treated wood is cheaper but must be preserved, dried and primed before installation.
  • To remove the old casing, cut through the caulk with a utility knife and carefully remove casing with a pry bar.
  • Cut the new casing to size, letting it sit flush against the bottom.

Week 2: Paint the siding of exterior

  • This can be done in the afternoon or evening, so tackle the job in sections. Shake and stir the paint before you begin for even coverage.
  • Cover any light fixtures, doorbells, and windows where you intend to paint, and use an angled brush to paint along edges without making a mess. Use a roller to fill in the broad areas, working from top to bottom. Paint the trim last, wiping up any stray spatters with a damp rag.

Week 3: Apply a second coat

  • Sand out any paint drips or debris.
  • Paint the siding and trim another coat.

Week 4: Tackle the details of exterior

  • Paint the front door the color of your dreams.
  • Add shutters, if you like.
  • Upgrade and add extras: new crown molding for the porch, a doorbell, a new house number, door handles, and light fixtures.

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What are the tools that every renter should own? https://residencehq.com/tools-renters-should-own/?utm_source=rss&utm_medium=rss&utm_campaign=tools-renters-should-own https://residencehq.com/tools-renters-should-own/#respond Fri, 04 Nov 2022 07:59:49 +0000 https://residencehq.com/?p=51291 Even if you have a maintenance man, you’ll need some tools around your rental for everyday projects. One of the major perks of renting? Your landlord is responsible for major repairs, updates and improvements. Renters won’t need a full garage full of tools, but a complete toolbox is something everyone should own. Any renter worth […]

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Even if you have a maintenance man, you’ll need some tools around your rental for everyday projects. One of the major perks of renting? Your landlord is responsible for major repairs, updates and improvements. Renters won’t need a full garage full of tools, but a complete toolbox is something everyone should own. Any renter worth their security deposit will have these basic tools handy for small projects and minor repairs.

Tools for Renters

Tape measure: One of the most valuable items in your toolbox. Bring it with you when shopping for furniture to make sure pieces will fit, measure windows for curtains and blinds, and calculate walls for square footage when purchasing paint.

Utility knife: A utility knife is an all-star for moving in and out of your new place. Well-taped moving boxes are no match for their sharp edge. The paint on windows from previous paint jobs is gone with a gentle blade scrape. When scissors are buried in a box, a utility knife can fill in for almost any job.

Level: A trim level, even a keychain-sized one, will be your best friend when hanging art on your walls, installing curtain rods, or simply checking to see if your door frame is crooked.

Hammer: Of course, a hammer is a necessity for any toolbox. A small one will do the trick, no need for a heavy outdoor hammer. You will most likely be using it to put together furniture, hang décor on the walls, or for DIY projects. Rookie tip: make sure it fits in your toolbox of choice.

Screwdriver set: At least one Philips and one flat-head screwdriver are necessary for many small repair jobs. Having a full set that offers many sizes is even better, allowing you to do everything from fix off-kilter cabinet doors to install wall hooks.

Smaller yet Important ones

Nails, screws and anchors: Keep a small plastic box with a selection of nails and screws in your toolbox. You never know when you’ll need to replace a screw on a door handle or add an extra nail to hang that large mirror. Anchors are necessary for hanging anything heavy or on plaster walls. Keep the packaging for these, as it will tell you what size to drill the hole for installation.

Allen/hex wrench set: Most furniture that comes in a box will use an Allen wrench for assembly. Allen and hex wrenches (also sometimes called keys) are the same tool. The small one that comes in the box with your furniture is sub-par. Having your own set will help you put together furniture in a snap. Don’t forget to tighten Allen bolts periodically to keep your furniture secure. Bonus: they’re also useful for bicycle repairs!

Electric drill/screwdriver: An electric drill and screwdriver with a set of drill bits and screwdriver heads will make nearly all repair jobs easier. Drilling holes for new drawer pulls in furniture? Need to install a heavy mirror on a plaster wall with an anchor? The holes in your self-assemble furniture not big enough for the screws? Electric drill to the rescue!

These basics should all fit in a portable plastic or metal toolbox. You can also use a five-gallon bucket it you prefer; there are bucket inserts that include pockets for your tools to make them easy to find. Tuck the kit on the bottom shelf of a closet or under a sink and you’ll be prepared for any job.

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