Tuesday, July 22, 2014

This is being organized

A house with under 500 square feet of living area qualifies as a micro home.  It is also an unthinkable place to call home for most families, but one Austin, Texas family would almost call 500 square feet of living, huge.   

Scott Sprague, his wife Carrie, and two boys live in a home that is 260 square feet.  Actually, the home is quite cute and very well kept.  How do they do it? 

It takes a lot of planning as the video shows.  Although this home is very cost efficient for a family of four, it's also a great example of how over stuffed and disorganized most home owners are compared to the Sprague's way of living. 

Tuesday, July 15, 2014

How Much Is Too Much For A Kitchen Reno?

I recently had the opportunity to speak to Scott McGillivray, author of How To Add Value To Your Home, Cash Flow For Life, and host of HGTV's Income Property.

Scott is a wealth of information and shares it at his many seminars currently titled Scott's Wealth Tour..  He does flip houses but for the most part looks for the right home to buy to turn into another income property.  If you are thinking of doing this, I would highly recommend you attend one of his sessions.  More details available here.

I took the opportunity to ask Scott if he has a formula to know how much to spend or better put how much not to spend when renovating what can be one of the most expensive rooms, the Kitchen.  He uses a 5% calculation based on the value of the home.  His explanation below.