Spring Clean Your Financial Paperwork

Couple managing the debt

If you’re spring cleaning, you might be ready to go through your entire house and get rid of anything that doesn’t bring you joy. While your financial paperwork likely isn’t something that brings you joy, that doesn’t mean you can toss it into the trash. Learn about what you should be saving, how long you need to keep it, and how you can organize it, so it fits in with your newly tidy house.

Tax Returns: Keep for three years from the date you filed. If you filed a claim for a loss, keep for your return seven years.

Receipts: Keep receipts for itemized deductions on your tax return with your tax records for three years.

Paycheck Stubs: Keep until the end of the year.

Medical Bills: Keep for one year. If you deduct medical expenses on your taxes, keep with the returns for three years.

Utility Bills: Keep for one year. If you claim a home office tax deduction on your taxes, keep with the returns for three years.

Bank Statements: Keep for three years.

Credit Card Statements: Keep until you can confirm the charges and have paid the bill. Keep for three years if you need them for tax deductions.

Paid Off Loans: Keep for seven years.

Active Contracts, Property Records, Insurance Documents, and Stock Certificates: Keep as long as they’re active. Once they’re complete, you can discard.

Marriage License, Birth Certificates, Adoption Papers, Wills, Death Certificates, and Paid Mortgages: Keep forever.

Once you have all your financial papers in order, purchase a few storage boxes to hold everything. Label the outside with what’s in the box so you always know where your important financial documents are located.

Source: Her Money

It’s Time to Get to that Spring Cleaning!

Angry woman vacuuming while man is resting

It may be too early to get out and do a lot of garden prep for spring, but it’s definitely not too early to get going on some spring cleaning jobs inside your home. Here are a few things to tackle inside to get your home springtime fresh, while you wait a little longer to start on garden prep.

Clean walls and ceilings. When was the last time you did this? Use a vacuum cleaner attachment to remove dust; test a degreaser in a hidden area of the kitchen to tackle that room’s walls with a degreaser and sponge.

Dust books and bookshelves. It’s time to take books off the bookshelves and actually dust them. And before you put them back, clean the shelves, too. And while you’re at it… now may be the perfect time to donate some of those books that you’re really not going to read again (or for the first time) to a local nonprofit.

And then dust the rest of your house. Dust from top to bottom, in the hard-to-get-to places and in the obvious places. Clean the top of the fridge, the top of curtain rods, the baseboards, and behind furniture. Always work from the top of the home to the floor and don’t use sprays, which really attract and hold more dust.

And then vacuum. A quick vacuum after the dusting will let you get any of the dust that lands on the floors.

Change out the batteries. Now’s a good time to change the tired batteries in smoke detectors and CO2 monitors. You should do this a couple of times a year, so if you do it now, mark your calendar for Halloween and change them out then, too.

Clean window treatments. Some draperies and curtains may be machine washable so read your labels. Some may be dry cleanable. And blinds are always ready for a thorough dusting. These items are dirt magnets. Do it now and you won’t cringe when it’s time to open your windows.

These are a few odd jobs that will get you started on spring cleaning. Don’t try to do the whole house at once. Start with these tasks and tackle others later. When your home is springtime fresh, you’ll be glad you put this effort in!

Considering Purchasing in HOA?

Aerial view of a Cookie Cutter Neighborhood

The Colorado Department of Regulatory Agencies (DORA) offers some tips on things to consider if you’re purchasing in an HOA (home owners association). Some people love being part of an HOA neighborhood; others do not. Here are a few tips to consider before making your move.

Considering purchasing in an HOA?
Make sure you have the necessary documentation: HOAs have bylaws, covenants, rules and regulations, so obtain copies of these documents to know the HOA’s responsibilities as well as your rights as a new member. You will also want to get copies of the Colorado Common Interest Ownership Act (CCIOA) and the Colorado Nonprofit Act which are the state laws governing HOAs.

Be aware of your HOA’s enforcement powers: HOAs are able to enforce their covenants, rules, regulations and bylaws through various methods such as fining, placing a lien on an owner’s property, sending an owner’s account to collections or filing a civil lawsuit in court. Knowing under what circumstances and what the processes are to take these enforcement actions are important.

Get involved: The best way to become part of the community and make a difference in your HOA is to get involved. All HOA meetings are open to homeowners except for executive sessions. Make sure to attend HOA meetings, stay up to date on what’s happening in your community, share your ideas and voice your concerns.

Resources are available: The HOA Information and Resource Center at DORA has invaluable information and resources to answer your questions, educate you on HOAs and assist you with difficult and sensitive situations. K

The Division encourages everyone to visit the Division’s website at www.dora.colorado.gov/dre to ensure that their real estate broker is properly licensed.

Protect Your Nest Egg from Quick Cash Offers

Visiting grandparents bend and kneel to hug grandchildren

The Division of Real Estate recently issued this consumer advisory – “Take 5 to get wise and learn how to protect your real estate nest egg.”

Colorado residents owning a home for 20 years or more are being targeted for the equity in their property. An offer may include a cash transaction, a quick sale, no inspection, and the freedom to leave your problems behind.

In Colorado’s hot real estate market, a lot of homeowners might not know the market value of their property, which is what unscrupulous investors want. They are trying to drive down your property value with misleading and confusing information. Their goal is to make a profit by turning around and selling your property at true market value.
This can happen to anyone because people who perpetrate fraud are good at what they do – separating you from your money.

Protect your nest egg when considering an offer on your property:

  • Go to www.dora.colorado.gov/dre to research licensed professionals.
  • Go to your local county government website and look up property values for you and your neighbors.

Other tips to protect your nest egg when considering an offer include:

  • Be wary if you weren’t thinking about selling.
  • Always keep someone you trust in the loop.
  • Do research on real estate brokers working in your neighborhood.
  • Always seek legal advice.
  • Know the value of your property and understand the motivations of why an investor wants to buy your property.

By taking a few steps you can protect your home, your finances and your future. If you have questions, please contact us.

Home Projects for the Valentine’s Day Honey-Do List

Dad does it all

Sure! Flowers are nice and dinner out is almost always a success. But if you really want to say, “I love you,” try one of these easy February home maintenance projects and show what it really means to love someone!

Freshen up the bedrooms.
Wash all of your sheets and blankets and run them through the sanitize cycle on your washing machine. Are your pillows able to go in the washer? Wash those, too! And any bed covers that can be washed should be and others should go to the dry cleaners. Fresh bedding makes for a fresher home.

Dust the places no one sees.
So we dust our table tops, shelves and book cases. But how often do we dust those places no one sees? February is the perfect month to dust the tops of door frames, dust window ledges and wall boards. Dust all the lamp shades and bulbs, too.You’ll be surprised at how much brighter everything looks because you do this task.

Clean your windows.
Let the winter sun warm your house up even more (or make it sparkle anyway!) by washing the windows. You may not be able to do the outside windows in the cold weather, but you’ll see an immediate improvement in your home, if you simply clean the insides of the windows. Dust the blinds and spot clean your curtains.

Clean under your furniture.
You don’t have to vacuum the entire house if you don’t want to (but you will when you start this project!), but move the couches and the chairs and tables and vacuum beneath them. If there’s a place that you usually work around, then now is the perfect time to move it and clean where no one sees.

Wipe the places that get touched a lot!
Take some time to clean the places that never get cleaned but should. Wipe down the legs of chairs and tables, door knobs and light switches, and the knobs on all cabinets and drawers. If you touch it to turn it on or off or to open or close something, clean it today!

Clean small kitchen appliances.
Do you have a spotless microwave and an oven so clean you are proud to leave the door open? Yet, if someone were to look at the bottom of your mixer, they’d see cake batter from two years ago? It’s time to clean your small kitchen appliances. Wipe down your mixers; change the filters on your coffee pot and run a water vinegar mix through it; shake out the toaster crumbs. What other appliances can you find to clean?

These are six Valentine’s Day Honey-Do jobs that will prove you love everyone in your home, and yourself, too! Happy Valentine’s Day!