Busted Pipes

What to Do When a Pipe Bursts: 10 Steps to Take

By Kim PorterJANUARY 7, 2021

A burst pipe is every homeowner's nightmare. If you know what to do and act fast to deal with a broken water pipe, you may lessen the damage.

In this article:

A burst pipe is probably the last thing you want to deal with, but you might be especially vulnerable once the temperature drops, especially if you live in an older home or your plumbing is damaged. No matter how it happens, a broken water pipe is almost always a big mess to clean up and can cost hundreds or thousands of dollars to fix. But knowing what to do when a pipe bursts may help you act fast to try and reduce the damage to your home.

10 things to do when a pipe bursts

1. Shut off the water

When a pipe bursts, go to your home’s main water valve and shut it off immediately. Turn the valve clockwise by hand or use a meter key.

It helps to find your water valve now, before you need to know where it is. Search these spots:

  • The basement, near the front of the foundation wall within three to five feet of the main water entrance

  • In a crawl space

  • In a mechanical room

  • Around the water heater or furnace

  • Under the kitchen sink

  • Near the curb or sidewalk (look for a metal plate)

2. Disconnect your electrical panel

Turn off the electrical system before you start cleaning up the water. Electrical panels are usually located in the basement, garage, closet, laundry room or outside. If water is blocking your path to the breaker box, call an electrician.

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3. Turn on a sink faucet

This will drain the remaining water from the system and relieve pressure, which prevents further damage.

4. Call a plumber

While you might have some experience with DIY home repair, “there are some [repairs for] which we will always recommend bringing in a pro, and a burst pipe is one of them,” said Angie Hicks, co-founder of Angie’s List.

It’s a good idea to find a plumber now, before you need to call them for emergency service. Ask your friends and neighbors for recommendations, and once you have a list of three or four, do your own research. Take a look at the plumber’s website, third-party reviews and the Better Business Bureau, and ask about the company’s licensing and insurance.

5. Create a temporary fix

If you have to wait a few days for a plumber to arrive, a temporary patch may help keep the pipe secure. There are a few different ways to try and reinforce the pipe, but you’ll need materials on hand.

6. Clean up the water

Toxic mold can be even worse to deal with than property damage, so clean up standing water to try and prevent mold from forming in the walls, ceiling and floors.

You can start the cleanup process yourself by renting industrial-size blowers and dehumidifiers. But if there’s a lot of water, Consumer Reports recommends contacting a water removal company that’s certified by the Institute of Inspection Cleaning and Restoration Certification (IICRC).

7. Open cabinet and pantry doors

If pipes burst due to cold or freezing, and the exposed pipes are inside closets, cabinets or pantries, leave the doors open to let warmer air circulate around the pipes.

8. Heat up the pipes

Either use a hairdryer or set up space heaters to blow heat into cold areas, prioritizing the most vulnerable pipes in the basement, crawl space or outside. This helps the pipes thaw and allows water to flow through instead of freezing.

9. Call your insurance company

Standard homeowners insurance policies may cover damage resulting from sudden pipe bursts inside the home. “But the water damage must be the result of a sudden break or leak,” said Hicks. Damage that happens over time, like from a leaky pipe, is considered negligence—and your insurer will likely deny coverage.

Review your homeowners insurance policy to see if it covers water damage to your home, or call your insurance company to try and find out. If the water pipe burst is outside your home, it might be your utility company’s responsibility to make repairs and foot the bill.

10. Document everything

It’s always a good idea to document the broken pipe, water damage and anything that needs repairs as a result of the burst pipe. Take photos and keep notes of conversations with your insurer and plumber.

Should I contact my insurance company?

If your homeowners insurance policy covers sudden pipe bursts, then it could be a good way to cover the costs of cleaning up the water, drying out your home and preventing mold growth. But weigh this decision carefully. Filing a claim may cause your rates to increase by 7% – 10%, according to Policy Genius, and you’ll likely need to pay a deductible before coverage kicks in. Consider getting insurance involved only if the costs of water damage are more than you can handle.

Preventing a burst pipe

Burst pipes can happen for several reasons, but the most common cause is a drop in temperature. When water freezes, it quickly expands and pressure builds, eventually causing the pipe to burst or leak. “The pipes located in attics, crawl spaces and outside walls are especially vulnerable to this,” Hicks said.

But you can try to prevent burst pipes by:

  • Insulating your pipes: “Enveloping them in foam will help keep a pipe stay above freezing temperatures and prevent them bursting open and causing damage,” Hicks said. You can find foam insulation pieces at hardware stores for around $3.

  • Repairing or replacing old or weak pipes: A plumber can help you decide if it’s time for an overhaul.

  • Locating your main water shutoff valve: Know where it is and stick a label on it, so you can find it quickly in an emergency.

  • Keeping an eye out for water leaks: These can lead to bigger problems, so be on the lookout for leaking faucets, damp cabinets, rocking toilets or dripping refrigerators. Make repairs as needed.

  • Letting faucets trickle through cold nights: This can help keep your pipes from freezing.

Every second counts when a pipe breaks and water starts gushing into your home, but knowing what to do beforehand may help you act fast to try and avoid costly repairs.

Disclaimer: The above is solely intended for informational purposes and in no way constitutes legal advice or specific recommendations.

Breaking Down the Finances of Renting a Home

By Danielle Keech, MilitaryByOwner.com

What you'll find in this article: 

 

Let’s talk about one of the enormous financial investments in your life: housing. Whether you choose to rent or buy a home, this portion of your monthly budget is typically the most substantial. But for the rest of you, including military families navigating through countless PCS moves, a fluctuating income, and an ever-changing budget, we’re going to break down the finances of renting a home.

We’ll take a look at credit scores, determine whether renting or buying is better for your budget, figure out if it’s cheaper to live on or off base, and learn how to calculate an appropriate budget. Ready? 

Breaking Down the Finances of Renting a Home 

Your Credit Score, and How It Affects Renting

“A credit score is a statistical number that evaluates a consumer's creditworthiness and is based on credit history.” — Investopedia

While your credit score seems like your twice-removed cousin loosely tied to you, it’s not. It dictates much of your life (financially, anyway). It carries so much weight that some people only see the number and fail to see you. But your credit score isn’t random. It’s carefully calculated based on five key components: 

  • 35% - payment history

  • 30% - credit utilization

  • 15% - length of history

  • 10% - types of credit

  • 10% - new credit

Experian breaks down their credit ratings as such:

  • Exceptional: 800-850

  • Very Good: 740-799

  • Good: 670-739

  • Fair: 580-669

  • Very Poor: 300-579

A good credit score for renting is typically above 650. But if your score falls below that magical number, does that mean that you can’t rent a home? No. But it will be a little harder. There are more hoops to jump through. 

Here’s what you can do: 

  1. Show proof of consistent income.

  2. Live on base.

  3. Have a cosigner.

  4. Provide stellar recommendations.

  5. Pursue a rental that doesn’t run a credit check.

  6. Be willing to pay more.

Learn more about your credit score and renting: 

When Buying Might Be a Better Option Than Renting

Is buying a home always better for your budget? Contrary to popular opinion, no. We’ve all heard it before. Why would you ever rent? You’re just throwing money away! Well guess what, that’s simply not true. While monthly mortgage payments are often less than the cost of rent, owning a home comes with greater financial responsibility. 

Not only do you have to account for homeowners insurance, maintenance, and repairs, but, if you get PCS orders and can’t sell the property or find renters in time, then you’re on the hook for two residences. The point is, there’s a lot of gray area in a discussion that's often painted in black and white. 

When buying might be the better option. 

  1. If you can get more house for your money.

  2. If you plan to stay and settle in or return to the area.

  3. If it will make a good rental property.

  4. If your finances are in order.

Related: What to Know About Your Finances Before Buying a Home.

Expenses to Consider When Setting Your Budget

The bottom line is, your budget goes beyond your mortgage payment or monthly rent — those bills might be the most significant part of your expenses, but they’re just the starting point. 

 How to Set a Budget

Nerdwallet recommends the 30% rule or the 50/30/20 rule to help you calculate how much you should spend on rent each month: 

  1. “One popular rule of thumb is to spend around 30% of your gross income on rent. So if you earn $2,800 per month before taxes, you should spend about $840 per month on rent. This is a solid guideline, but it’s not one-size-fits-all advice.”

  2. “You can also use the 50/30/20 budget as a guide to figure out how much you can afford to spend on rent. This method allocates your take home pay (after taxes) to 50% for needs, 30% for wants and 20% for savings and additional debt payments.”

So if you earn $2,800 per month after taxes, your budget would look something like this:

  • $1,400 for needs like rent, utilities, groceries, insurance, and minimum debt payments.

  • $840 for wants like shopping, happy hour, and concerts.

  • $560 for savings and additional debt payments.

However, like home buying, just because you’re pre-approved for a mortgage (or can spend 30% on rent each month) doesn’t mean that you should. It’s best to run the numbers, then look at your finances as a whole. How much money do you have pouring into another house payment, student loans, a car payment, retirement, kids' college tuition, etc.? And what’s your goal? If your ambition is to aggressively pay off debt or save, then see how little you can put toward rent each month. If you find a home for $500/month that fits your needs, go for it!

Additional Expenses to Consider in Your Budget

  1. Utilities. Depending on where you live, they could be a heavy burden: water, sewer, trash, gas, electricity, property taxes, HOA fees, etc. Understanding how much you can expect to pay in utilities each month will help you set a proper house-hunting budget.

  2. Maintenance. Maintenance expenses for renters aren’t usually a cause for concern. Since the landlord is normally responsible for the big stuff, you shouldn’t expect to dish out hundreds of dollars in repairs (unless the damage was your fault). However, it’s not a bad idea to create a fund for the little things here and there like light bulbs, lawn care, paint, batteries, etc. that you are responsible for maintaining around the property.

  3. Insurance. Renters insurance is generally benign in terms of your budget. Most don’t exceed $20 a month.

  4. Transportation. If you’re stationed in the D.C. or San Diego area, you might think that you can save money each month by finding a less expensive rental further out of the city. While that’s a nice thought and should definitely be considered, be sure to factor in the cost of transportation. Whether it’s gas or public transportation fees, you might not save enough money in rent to warrant the distance from work.

  5. Basic Housing Allowance. As you start to tally your expenses, don’t forget to calculate your BAH and new cost-of-living — to include the cost of gas and groceries. Your BAH is there to help cover the cost of housing when you move with the military, but it doesn’t replace your budget.

More about BAH: If you’re an E6 with dependents stationed in the D.C metro area, then your BAH is $2,556. It sounds like more than enough when you’re PCSing from Fort Sill, Oklahoma. However, in D.C., you may find that it’s not enough, as many four-bedroom homes are $4,000 or more a month. So, to get a four-bedroom house with the amenities and desired location, you’ll have to supplement with your monthly income. Or, if that’s not an option, then reduce your living standards. The biggest thing to remember is that your lifestyle, budget, and needs are going to fluctuate each time you PCS with the military.  

Is It Cheaper to Live on Base or Off Base? 

The quick answer is, it depends on your location. You have to factor in the local cost of living, what you need, what you want, what’s offered on base, and what's available out in town. And here’s the thing, what works for you right now might not work for you later! 

When it might be cheaper to live on base:

1. If you live in a high cost of living area. If you live in a major metropolitan area, space is scarce, and the housing market is competitive, you might find more amenities for your money on base. San Diego, Hawaii, and the D.C. area are all examples of locations where you may find a larger home and more items on your wish list for less money on base. 

2. You want community and convenience to work. Feeling secure and surrounded by the local military community may be best found on the base. While military families often flood to the same off-base neighborhoods, there’s nothing like the community you build when living in military housing. 

When it might be cheaper to live off base: 

1. If you want to save money. Most military housing takes your entire BAH. While this simplifies your monthly bills, it doesn’t allow you the opportunity to save. 

2. If you want to buy a home. It might be time for you to invest in real estate, and if it is, then your options become simple: live off base. If the numbers work out, you might be able to save money by buying instead of renting. Plus, you can start life as a landlord and create passive income by renting the property out to other military families when you head to your next duty station. 

Budgeting for a house is no small feat. There are so many factors to consider, and there’s no right way to go about it. The cost of housing is expensive, bottom line. The best thing you can do is make yourself painfully aware of your finances. Pick a goal. Is it to live comfortably with your wants and needs, or to live under your means to pay off debt and save? Your response to that question will help you prioritize how you’ll approach your house hunt. And if you have more questions or need more guidance, then head to our blog where we’ve got all the info you need! 

And when you’re ready to start the hunt, take a look at MilitaryByOwner's homes for rent or sale and find the next place to call home--just click the image below to browse our listings!

 By Danielle Keech, MilitaryByOwner.com

These 10 Small Towns Are Perfect For All Retirees

These 10 Small Towns Are Perfect For All Retirees

www.retiredinamerica.com

8/25/2020

These 10 Small Towns Are Perfect for All Retirees

Many Americans dream of living in a big, bustling city during adulthood, likely thanks to a booming economy and a plethora of opportunities. But retirees typically prefer a more laid back, relaxed environment during their golden years. It’s understandable that after years of hard work you’d want to settle down and forget all about the hustle and bustle of huge metropoles.

Inevitably, however, as cities expand their economy and as their quality of life increases, they attract more and more residents. Eventually, most small towns can fall into the same ‘trap’.

The key is finding a place small and cozy enough that still offers all the services, stores, and health care options that are important to you and your household. We’ve taken a look at 10 superb retirement destination candidates with more than 50,000 residents but less than 100,000 that could be perfect for you!

If you want to live in a smaller, comfortable city that has everything you need, read on!

Leander, Texas

Leander, Texas, could be the perfect retirement spot for those who want the coziness of a small but growing town while not located too far from a metropole. According to the Census Bureau data, Leander’s population has grown by 12% over the past year. In 2019, it boasted 62,608. This sort of influx points to a rise in opportunity for many people, meaning you don’t have to worry about life here stagnating.

As hinted at earlier, Austin is close by if you feel the need for a little diversity in your activities, but otherwise, there is plenty to do in Leander. Are you a fan of golf? Why not experience a round or two at the Crystal Falls Golf Club. If you prefer to explore the outdoors then we highly recommend the Texas Hill Country at the Balcones Canyonlands National Wildlife Refuge.

It’s also a great place for retirees in terms of events, as the city proudly organizes hikes, museum visits, river cruises, and wine tasting, among others, for those aged 55 or older.

For a great retirement destination look no further than the fastest-growing small city in the nation, Leander!

Apex, North Carolina

Over the past year, Alex, North Carolina has grown by at least 10%. Now, 59,300 people reside here and you could be one of them.
What makes Apex particularly enchanting, especially for former scholars, is the fact that it is a part of what is known as the Research Triangle area. You’ve got three major research universities just within reach: North Carolina State University, Duke University and the University of North Carolina—Chapel Hill. Because of this, Apex has seen a massive increase in opportunities and partnerships both between the three universities and private industries.

If you ever feel the need to stretch out a little, you can always visit nearby Raleigh for a little added spice to your activities. Not that you’ll grow tired or bored of Apex! Retirees like it for its walkability, so you can always go for a stroll and visit the recently renovates historic buildings from the 1800s.

PeakFest is a popular, annual fair that attracts big crowds for its fine arts, foods, and crafters, so make sure you’re always ready to attend!

Doral, Florida

If you want to settle down for a warm, winter-free retirement then Doral is another fast-growing city you might enjoy. In the past year, its population increased by 8% according to Census Bureau data.

Situated in the South of Florida and just 30 minutes away by car from Miami, Doral is a great home for retirees who prefer warmer climates and the convenience of living close to the Miami International Airport. If you plan on traveling the world then you never need to worry about long, uncomfortable rides to the airport, a hub for many international travels. Then there’s also the fact that Doral hosts the headquarters for the cruise operator Carnival Corporation.

Also, you’re never too far from a golf course here. Did you know that Florida has the most golf courses per capita in the nation? This is particularly great for seniors who want to stay active, fit, and healthy.

Finally, another reason retirees might appreciate living here is the fact that Florida has no state income tax, translating to more money in your pockets to spend on your hobbies.

Bentonville, Arkansas

Brenton, Arkansas is yet another beautiful retirement destination for seniors who are having a hard time letting go of certain comforts that smaller towns don’t typically offer. You can find everything you’d ever need here thanks to the city’s growing economy and quality of life.
In terms of fun activities, you can always walk, bike or hike through the 120-acre Ozark landscape.

In addition, make sure to visit the Crystal Bridges Museum of American Art, as admission is free, where you can view famous paintings by the likes of Georgia O’Keeffe, Andy Warhol, Norman Rockwell, and Roy Lichtenstein.

If you ever need a change of scenery, make sure to visit nearby Bella Vista, another popular retirement destination. Here you’ll find more than enough lakes and golf courses for all your favorite outdoor activities.

Bentonville has grown significantly over the past year, seeing a 7% growth in population. Now, according to the data, 54,909 live here. This is partly due to the fact that it’s home to the Walmart headquarters which helped boost the economy even further.

Georgetown, Texas

Georgetown, Texas, has seen many layers of improvement to its economy and quality of life, partly due to being the home of the oldest higher education institution in Texas, the Southwestern University.

However, it’s much more than a college town. One of its most attractive features is a retirement community called Sun City Texas with more than 15,000 residents aged 55 and over. It’s, therefore, no wonder that Georgetown’s population has increased by 7%. Now you’ll have as many as 79,604 southern, friendly neighbors to brighten up your retirement days!

The hometown feeling is also something a lot of seniors living here love. On top of that, the city has a lovely town square that’s frequently taken up by events and festivals. But if you’re ever in the mood for a little trip, hop in a car and drive just 30 minutes away to Austin where you’ll find no shortage of barbecues and live music.

This historic city is also known for top-notch healthcare, boundless culture and as a place where neighbors become friends!

Buckeye, Arizona

Buckeye, Arizona is yet another place that Retirees prefer to run off to in order to avoid winters. But beware! If you wish to live you should expect the heavy use of air conditioning in order to make it through the summer months. Still, we can’t help but feel that the desert climate and stunning backdrops are quite appealing.

Seniors will have plenty of opportunities to stay active with the help of a free Fitness in the Park program, provided by the city. You can work on your yoga, pilates and even Zumba if you’re bustling with energy. Furthermore, there’s the Rusty Spurs Social Softball Club which you should consider if you’re 50 or older! In terms of hiking trails, make sure to visit the White Tank Mountain Regional Park. It’s also an archeological site filled with desert flowers and petroglyphs.

Buckeye has grown by 7.1% over the past year, meaning that nowadays 79,620 people live here. Don’t forget that if you’re ever looking into a change of scenery, Phoenix is just 45 minutes away!

New Braunfels, Texas

You’ll find the charming city of New Braunfels, which has grown by 6.8%, between Austin and San Antonio. This might be a plus for those seniors who need to settle down in a quiet area but still prefer having a bigger city, or two, just out of reach. In 2019, the population was 90,209, according to the data from the Census Bureau.

It’s also an ideal location for seniors with grandchildren who wish to attract their families for more visits. The little ones won’t be able to resist a visit to the Schlitterbahn Waterpark or the Natural Bridge Wildlife Ranch and Caverns. Worry not, you’ll also get senior discounts when you visit!

Another favorite activity among locals, not just seniors, is tubing down the Guadalupe and Comal rivers, especially during the warm summer months. Just don’t forget the bug repellent and you’re good to go!

New Braunfels was originally settled by German immigrants and even today the locals love to celebrate their heritage with several annual festivals. Wassailfest and Wurstfest are two of the biggest ones you can look forward to.

Redmond, Washington

It’s time to talk about a city ‘made’ for seniors who love milder climates. In Redmond, Washington, you can avoid both melting heats in the summer and freezing colds in the winter. It’s situated 15 miles away from Seattle, so you’re never far from a big city if you ever need it.

Those who like spending time outside, either just going for walks, hiking, biking, or taking their furry friends out will appreciate Redmon’s walkable nature. Cyclists especially have an extensive network of bike lanes to taken advantage of. There are also a number of hiking trails you can try out if you want to stay active during retirement!

For fans of boating, fishing and watersports make sure to pay Lake Sammamish a visit!

Between 2018 and 2019 the city’s population has grown by 7%, reaching 71,929 inhabitants. That may be thanks to the headquarters of Microsoft which attracts a lot of people for job opportunities. If you’re a bit of a techie yourself, you might just find your kind of people in Redmond.

Fort Myers, Florida

Florida, once more, proves to be one of the top retirement destinations in the U.S. For this pick we’re talking about Fort Myers, located along the Caloosahatchee River near Florida’s Gulf Coast. The city has seen a 6% boom population over the past year. Nowadays, as many as 87,103 people live here, and we can see why!

It’s a perfectly relaxing beach retirement spot, so it’s no wonder a lot of retirees have their eyes set on Fort Myers. In fact, a third of the population is over the age of 60! You’ll have no issues making friends your age with similar interests or joining local clubs or groups for your specific hobbies.

We should also mention that Fort Myers topped the U.S. News list of Best Places to Retire in 2020, so if you were ever on the fence, you should know that this is a fantastic spot to settle down.

It’s also incredibly affordable, so much so that seniors don’t typically have an issue finding great housing.

Lehi, Utah

Situated about 30 miles from Salt Lake City, Lehi is a great retirement destination for seniors who just can’t get enough of the mountainside. You’ll be surrounded by the Wasatch Mountains, White Mountains and Oquirrh Mountains, while the city itself is located along the Jordan River. It’s great to live in a place where the Utah Lake is essentially in your back garden!

Lehi was originally settled by Mormons, so there’s great historical value to be found here wherever you look.
In terms of activities, you can enjoy mountain biking if you’re a fan of the extreme, hiking, fishing and biking, plus winter sports in the colder months of the year.

But if you’re in for more laid back experiences you can always visit the museum and garden complex Thanksgiving Point. It also provides other great opportunities such as golfing or even spa treatments!

So? Where do you plan to spend your retirement?

Mortgage Rates Fall Again

Mortgage Rates Fall Again, Average 2.91%

August 28, 2020

© REALTOR® MAGAZINE

Mortgage rates remain near all-time lows, and many economists believe they will stay for the remainder of this year and well into next year.

“This year has been anything but normal and as the uncertainty lingers, mortgage rates remain” low, says Sam Khater, Freddie Mac’s chief economist. “These rates continue to incentivize potential buyers and the home buying season, which shifted from spring to summer, will likely continue into the fall.”

The Federal Reserve this week announced the adoption of a more flexible policy to achieve inflation that averages 2% over time. “This significant change can keep interest rates low for longer periods, which could translate into both long periods of cheap mortgages and a strong job market,” the National Association of REALTORS® said in a statement. “More and more home buyers and homeowners are expected to take advantage of these ultra-low rates.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Aug. 27:

  • 30-year fixed-rate mortgages: averaged 2.91%, with an average 0.8 point, dropping from last week’s 2.99% average. The 30-year fixed-rate mortgage hit an all-time low of 2.88% at the beginning of this month. A year ago, 30-year rates averaged 3.58%.

  • 15-year fixed-rate mortgages: averaged 2.46%, with an average 0.7 point, falling from last week’s 2.54% average. A year ago, 15-year rates averaged 3.06%.

  • 5-year hybrid adjustable-rate mortgages: averaged 2.91%, with an average 0.2 point, unchanged from last week’s average. A year ago, 5-year ARMs averaged 3.31%.

Freddie Mac reports average commitment rates along with average fees and point stop reflect the total upfront cost of obtaining the mortgage.

Source: Freddie Mac

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