Tips for Lighting up the Holidays

by Maegan Wyrzykowski on November 17, 2016 Home Decorating

Before Thomas Edison invented the lightbulb, candles were used to light up trees during the holiday season. Can you imagine having candles burning on a tree inside your house? As I’m betting you can imagine, this led to many house fires. Thanks to Edison and his friend Edward Johnson, the first-ever string of electric lights was put together in 1882.

Holiday lights aren’t just used for trees anymore; they’re used in many different ways. From decorating stairs to lighting up the outside of your house, string lights have become a necessity when the holiday season rolls around. If you’re anything like me, you’re busting out the lights and decorations on November 1 every year.

Here are some safety tips, tools and trends for lights during the 2016 holiday season.

Safety Tips from Mr. Electric

• Read labels. When hanging lights outside, read the back of the packaging to make sure they’re safe for the outdoors.
• Don’t use metal. When hanging lights outside, using a plastic or wooden ladder helps prevent electrical shocks.
• Don’t overload extension cords. Having more than three strings of lights on one extension cord can cause overheating and could potentially start a fire.
• Don’t leave lights on. Always remember to turn your holiday lights off whenever you’re leaving the house or going to bed. If you’re forgetful like me, opt for an electric timer and program it to turn your lights on and off at specific times.
• Examine all wires. Whether they’re new or old, always examine your wires before plugging them in since frayed wires are a fire and shock hazard.
• Buy new lights regularly. Older lights are a fire hazard. Buying new lights every year may be expensive, so wait until the end of the season when lights are on sale and save them for the following holiday season.

Holiday Light Tools

• Command Brand hooks and clips are something to consider if you don’t use them
  
  already. They’re a great way to hang up lights indoors and outdoors, with no damage to your house. Command Outdoor Light Clips stick to siding, windows or gutters, and they are specifically designed for outdoor use, so you don’t have to worry about your decorations falling down.
• Twist and Seal products are a great solution for protecting plugs outside from shocks and shortages. They’re weather resistant and come in green so that they can be easily hidden by trees and bushes. Twist and Seal also has a new cord protector made for protecting extension cords.
• There’s nothing worse than untangling your lights, only to find out that a bulb is dead. The LightKeeper Pro is a great tool for this situation. This device sends a pulse through the entire string of lights, finds the dead bulb and fixes the shunt.

2016 Trends

• According to the DIY Network, LED lights are better than incandescent. They might cost more than incandescent lights, but they last longer. They can also save you around 80% on energy costs.
• The debate over colorful lights versus white lights is still ongoing. Personally, I love when I drive past houses with strings of colorful bulbs wrapped around the façade and in the bushes because it reminds me of a gingerbread house. Both types of lights have their proponents, so use whichever suits your fancy.
• I’m sure you’ve seen the videos of houses with Christmas lights that turn on and off to the beat of songs. This has become increasingly popular over the years. With the help of GE holiday lighting products, you, too, can have a spectacular show on your front lawn! GE Color Effects products come with a remote control, allowing you to choose from six colors and 40 functions.

FHA Loan? Refi and Keep Your Low Mortgage Insurance Rate

No one likes paying for mortgage insurance. To that end, I’ve got some good news!

If you have an FHA loan endorsed prior to June 1, 2009, you have the opportunity to do a rate and term refinance while keeping the same low mortgage insurance rate you currently have.

This is a huge savings opportunity for homeowners with FHA loans. With an FHA loan, there are two different rates you should look at when determining whether refinancing makes sense: the interest rate and the mortgage insurance rate. Mortgage insurance rates have been pushed higher since June 2009, but homeowners with these loans who are looking to refinance have been given a reprieve from the higher rates. Now that you know your mortgage insurance rate won’t change, why would you refinance? Let’s talk about interest rates for a minute.

Interest Rates Are Great

Simply put, interest rates have rarely been better. Now is a great time to refinance to either lower your payment or pay off your mortgage sooner.

When you close, you can choose to pay for prepaid interest points in order to get a lower interest rate. One point is equal to 1% of the loan amount. For context, let’s take a look at where rates were in the final days of May 2009. If you paid for half a point at that time, your rate would have been in the mid-5% range.

Now fast forward to today. For a 0.375 point investment, rates are around 3.4% for a 30-year fixed-rate mortgage. Imagine how much you could save on interest by refinancing with a lower rate. They’re even lower if you choose to go to a 15-year term. Those rates are in the high 2% range.

There’s even the possibility that you can accomplish the same benefits – such as a lower rate or shorter term – with an FHA Streamline refinance. This doesn’t require an appraisal, and less income and asset documentation may be required.

So what are you waiting for? If you have an old FHA loan, go ahead and refinance now to save yourself some money.