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Are You Sabotaging Your Lawn?

Everyone wants a lush, verdant lawn, but how many of us actually put forth the time and effort it takes to grow one? Grass grows wild all over the place, right? It seems like it should be a simple thing. But for the most part, it’s not. No matter how hard you work, somehow your lawn is always found lacking. Why?! Well, for starters, you could be giving it too much attention. You might be concentrating so much on watering your grass that you give it too much. Or you could be forgetting to show the soil underneath a little love too. Let’s look at a few more ways you might be sabotaging your lawn.

Overwatering

It’s possible to give your lawn too much water, especially if you don’t take regular rainfall into account. The soil underneath your grass is composed of porous materials and air-filled spaces. Excess water is stored in those pores and spaces, pushing out the vital oxygen that plants need to survive. Without that oxygen, roots will suffocate and die off and leave you with a shallow root system. Give your lawn about an inch of water per week if you have a good rainfall. Water more frequently in dryer areas.

Planting One Type of Seed

Variety is the spice of life. It’s also the key to maintaining a healthy lawn. Choose a mixture of grass seeds that do well in different conditions so your lawn will weather it all. Here in the Lowcountry, warm-season grasses like St. Augustine, Bermuda, Zoysia, Centipede, and Carpet all adapt pretty well.  

Ignoring the Soil

Healthy soil is a huge key element in maintaining a great lawn. Aerate the lawn every one or two years, and think about having your soil tested. This can be done easily through the Clemson University Agricultural Service Laboratory. Soil sampling and testing is a great management tool that can aid you in deciding how to fertilize or lime your lawn.

Incorrect Mowing

Ideally, grass should be 2.5 to 3 inches tall. Don’t remove more than ⅓ of the grass blade at once. Never mow a wet lawn. Moisture weighs down the grass, which makes it harder to get a clean cut. Be sure to keep your mower’s blades nice and sharp. A dull blade will make rugged cuts, which in turn increases the chances of pests and disease. Alternate the direction in which you mow your grass each time. Mowing in the same direction every time creates unwanted grooves in the grass.

Overlooking Lawn Stressors

Your grass will only thrive in the conditions it likes best. Stressors like excessive precipitation, drought, extreme temperatures, construction, and foot traffic have a major effect on your lawn. Too much water or fertilizer invites weeds to grow. Heavy foot traffic compacts soil. Read up on the big stressors for your type of grass and act accordingly.

How-To Tuesday: Spotting a Bad Homeowners Association

There are lots of things about neighborhoods that are up for debate as matters of opinion. The quality of a neighborhood’s homeowners’ association is not one of these things. Some communities have HOAs that aren’t deeply involved and just enforce guidelines on exterior maintenance and cleanliness. Others, such as condo regimes, are stricter, more complex, and include things like maintenance, landscaping, trash collection, and in some cases water and/or electricity bills. No matter the level of involvement, an HOA should be consistent, fair, and attentive. When you’re looking to buy in a neighborhood with an HOA, there are a few things you should pay attention to.

The Neighborhood as a Whole

Don’t just focus on the property you’re thinking about buying. Take a look around and notice the condition of the rest of the neighborhood. Are there rusting or rotting fences? What condition are the signs in? What’s the condition of the roads, sidewalks, driveways, and other paved common areas? If there’s a pool, clubhouse, tennis court, or any other amenities, what share are they in? Are they clean and well cared for? Check out the lawns and exteriors of all the houses and buildings. Are they in disrepair or good order? If the community has a regime that takes care of roofs and exteriors, et cetera, pay super special attention to make sure the upkeep is good. If possible, talk to a few neighbors and ask how often maintenance is done and how satisfied they are with the HOA’s involvement.

The Reserve Study

A reserve study sets forth the HOA’s long-term funding plan and is a great tool for measuring the health of a homeowners association. Look for the funding percentage. If it’s at zero to thirty percent, there’s a high risk for a special assessment sometime soon. You should also look for the amount the reserve study recommends the HOA should save each year and how much the HOA actually saves. Find out whether they have been making capital improvements along with regular maintenance.

The Questions to Ask

Most importantly, speak with the homeowners, the HOA itself, and/or the management company to get straight answers. Have there been any recent special assessments? What were they for? Has there been any discussion about a future one? Have there been any lawsuits? How many insurance claims have there been? Are there any plans to change the covenants, conditions, and restrictions (CC&R)? Has there been any significant damage recently, and were they repaired?

It is ultimately the home buyer’s responsibility to educate themselves about the CC&Rs, policies, rules, and other aspects involving a homeowners association. Many HOAs are in a sad state due to underfunding and poor management. It’s important for homebuyers to be informed and involved when it comes to the neighborhood’s maintenance, covenants, and restrictions. Involvement of the homeowners is the only way to fix a bad homeowners association.

Should You Tap Into Your Home’s Equity Now?

When you need funds for remodeling your home, sending your kids to college, or even a big vacation, it’s tempting to tap into the equity you’ve build in your home. It seems like more homeowners are rushing to take out a home equity line of credit, or HELOC, before interest rates climb. In fact, 347,875 homeowners took out HELOCs in the United States in the first quarter of 2018 alone. That’s up by 18% from the previous quarter and up 14% from the same time a year ago. The Federal Reserve is expected to raise interest rates once or twice more this year, which could be responsible for the higher number of homeowners taking advantage of their equity sooner rather than later. So is now the right time for you to borrow against your home? Here’s what you should consider first.

How a HELOC Works

A home equity line of credit works sort of like a credit card. It’s not like borrowing a lump sum and depositing cash into your bank account as you would with other loans. You’re given a line of credit with a limit (based on how much your home is worth, how much you owe on your mortgage, your credit score, etc.). You can then tap into that line of credit as little or as often as you need or want to. You might be given a checkbook and/or a credit card that can be used whenever you desire. In most cases, you only pay interest on the loan for the first ten years, which is known as the draw period. After that draw period is up, you begin to pay back both the principal and interest.

The Pros

HELOCs are very flexible and have lower interest rates than other typical loans. You can use the money to make home improvements, increasing your home’s value even further; start a business; make another investment; pay off student loans or avoid them altogether by paying for schooling; pay for a wedding or a fancy vacation; and much more. One of the best parts of a home equity line of credit is that if you’re not actively using it, then you’re not paying for it. You could choose to get a HELOC and just have it available for emergencies, and as long as you don’t use it, you won’t owe a dime. If you do end up using it, you only need to take out as much money as you actually need. There’s no need to pay interest on a lump sum that you might not even use. And speaking of interest, the rates on HELOCs are a good bit lower than traditional loans or credit cards.

The Cons

Though the interest rates are generally lower on a HELOC, they are variable. The rate you receive on your closing date might be lower than what you’ll pay in five years. It’s determined by the Prime Rate and an index decided by lenders, which is an ever-changing number. There are also certain eligibility requirements that must be met to obtain a HELOC. In addition to having enough home equity built up, you need to have a good loan-to-value ratio on your property (including any tax or contractor liens), a good credit history, and a good debt-to-income ratio. These are all typical requirements for any loan, including your original mortgage, so you should be familiar with them.

Whenever You’re Ready…

Make sure to talk to multiple banks and lenders before you apply for a HELOC. Even if you’ve banked with the same institution for 25 years, we always suggest shopping around. Compare interest rates, terms, flexibility, fees, and other costs before you settle on a lender. Remember: as with all loans and business dealings, if it sounds too good to be true, it probably is. Go through the loan documents with a fine-toothed comb and ask all your questions—even the ones you might think are insignificant. Be 100% certain of all terms before you sign anything.

Proceed with Caution

Keep in mind that when you borrow against your home’s equity, you’re literally using the roof over your head as collateral. You’ll be repaying the HELOC in addition to your regular mortgage. Go into it with your eyes wide open and your “responsible spender” cap on. Be extra cautious about how you spend this money and how you’re going to pay it back. Be sure to read any fine print and pay attention to repayment terms and fees. There might not be any closing fees on your HELOC, but there might be appraisal fees or annual fees, among others, so be sure to ask. When it comes to repayment, have a plan to pay back more than the minimum monthly amount to avoid rising interest rates.

No one can really tell you if a home equity line of credit is right for you. Consider the above factors and make a well-informed, careful decision on whether or not now is the time for you to tap into the equity you’ve built up with your home.

Friday Five // June 22nd, 2018

It’s time once again for the Friday Five, our weekly roundup of fun events happening throughout the Charleston area over the weekend. Play some cornhole, hear some reggae music, attend a festival or two, and more. Whatever you choose to do, the staff and agents at Johnson & Wilson Real Estate Company wish you a safe and happy weekend!

Start the summer season off right with the Reggae Nights Summer Concert Series at James Island County Park on Friday evening. Reggae Nights feature traditional, old school roots reggae with a new school attitude in a beautiful outdoor setting. This weekend’s featured band is NDKA. Gates open at 7:30pm with music beginning an hour later. Bring your chairs or blankets and spread out with your food and beverages, which will be available for purchase. No outside coolers or alcohol are permitted. Admission is $10 for ages 13 and up. Gold Pass members and children ages 12 and under get in free.

If you’re a fan of beachy drinks, delicious local food, and fun in general, check out the Charleston RumFest this Saturday evening at Memminger Auditorium. This event brings together global rum distilleries with Charleston’s top chefs to create one-of-a-kind paired cocktails and dishes. General admission is $45 and includes rum samples, five samples of Caribbean dishes, music, Drink the Plank, and a confetti prize cannon.

Celebrate the official start of summer at the Summer Solstice Party with Cruzan Rum. Head out to Red’s Ice House on Shem Creek Sunday afternoon for the party starting at 2pm. Jam to some live music inside by Jameson, Ellen Drive, Midnight City, and Saluda Shoals. Enjoy $8 Cruzan Summer Solstice bucket, delicious food, and tons of fun. You might even spot a dolphin or two playing in the creek at sunset!

Do you love cornhole? Do you love animals? How about food trucks? If you said yes to any of these, be sure to check out the Paws and Claws Cornhole Tournament at Patriots Point on Sunday from 11am until 4pm. Bring your dogs, or if you’ve been planning on adopting one, check out all the cutie-patooties on four legs that Pet Helpers has to offer. When it’s time for lunch, grab some yummy eats from Immortal Lobster or Brava Bowls. The cornhole tournament starts at noon and costs $10 to enter. Prizes include gift certificates and a cornhole board.

The Celadon Flea and Farmer’s Market is back this Sunday at the Celadon warehouse in North Charleston. The warehouse will be open from 10am until 2pm and features local vendors, artisans, crafters, makers, and farmers. Come hungry, because every market has a variety of food trucks, coffee, and sweet treats. This month’s food trucks are Semilla and BKeD SHoP. Live music will be provided by the Watts Brothers. Enjoy coffee from Broom Fox Coffee Truck, cotton candy by Spun Charleston, and fresh local produce from Legare Farms. 85+ vendors such as Chucktown Art, Island Haus Paperie, Beautifully Simple Soap, Capturing Charleston, Reflections African Jewelry, and many more will be on hand to show your their wares.