#1 A Weekend Chef’s Dream Kitchen

Ask any real estate expert for the home upgrade with the greatest return on investment, and the answer will always be the kitchen. In New York, a mid to high-level kitchen remodel will bring homeowners a return of 78-82 percent. The ultimate dream kitchen includes an open floor plan with an island for storage/seating, ceiling height custom cabinets, high-end finishes (i.e. stone countertops and tile, glass backsplashes, commercial-grade cooktops and vent hoods), and built-ins like wine fridges, ice makers and pot-filler faucets. Add to that list, amenities like new flooring, lighting, appliances flush with cabinetry, and double sinks, ovens and dishwashers. Need to bring the outside in? Consider skylights and French doors that lead to an outdoor kitchen. Great renovations come from good financial planning. Let the experts at Island Federal Credit Union show you how to turn your home equity into cash for the kitchen of your dreams.

#2 Home Sweet Spa

Bathroom remodels and/or additions provide some of the highest resale returns of any home improvement project. But, before you begin, start with “Why”? Are you modernizing the functionality of your current bathroom, or updating style and color? Consider who will use the space and how will it fit your décor throughout the rest of the house. Start with repairs, assess ventilation and upgrade electric and plumbing. Then, move on to flooring, cabinetry, tiles and fixtures. Some of the most popular bathroom upgrades include whirlpool bath spas, double vanities, heated towel racks, hidden toilets, rainfall and Swedish showerheads, oversized shower stalls, and bidets. Planning for the future, think about adaptations that work for mature markets too. Items like wider doorways, convenient height handles and fixtures, stability rails and in-shower seating. Age in place with a home equity line of credit from Island Federal Credit Union .

#3 Backyard Oasis

Backyard living spaces are becoming equally as important as front of house curb appeal. Outdoor living rooms extend the square footage of a home and offer a variety of crowd-pleasing amenities with year-round appeal. Covered patios and decks rank high on the list of outdoor additions, alongside “wish list” items like outdoor kitchens and fireplaces/fire pits. Sanctuary spaces and water features continue to gain in popularity with ponds, fountains, Zen gardens and mediation rooms in high demand. A pool or spa can offer a respite from summer heat and daily stress, but high maintenance costs may offset resale value. Mature trees, professional landscaping, lighting, and decorative fencing also give backyards a boost. Your outdoor oasis is not out of reach. Talk to your loan specialist at Island Federal Credit Union about a fixed rate home equity line of credit.

#4 Cultivate Curb Appeal

Anyone who watches a home improvement show knows the value of curb appeal. It creates your home’s first impression! Landscaping is a key component of curb appeal, so clean out overgrown bushes, remove dead/overhanging trees, replace uneven lawn, install new beds for plants and flowers, and invest in a fully functioning irrigation system. Driveway, garage, walkways and lighting should also be a part of your landscape design. Replacing windows and doors and adding decorative window boxes and/or awnings go a long way in changing the look of your exterior. Larger front-elevation remodels may include adding dormers or porches, new siding and/or a new roof. Don’t forget small details that add up to big impact, like dramatic doorway and porch lighting, contrasting shutters, a stylish mailbox, bold treatment for house numbers and a fresh coat of paint. Put your house to work when doing work on your house. Get a low cost HELOC from Island Federal Credit Union .

#5 Popcorn Optional

A continuing trend is for new multi-purpose rooms that bring families together. These high-end spaces can combine a media room with a home theatre, wine cellar and gym/spa to replace libraries and dens or transform a basement or attic. Key components in these high-tech spaces include the latest technology such as streaming media. Adding in-home theatre features (i.e. large screen projection and surround sound) take binge watching to the next level. Video gaming too, is driving demand for a large-screen, surround-sound experience. What takes these entertainment enclaves over the top are their high end finishes. Look for leather seating, hardwoods, specialty lighting, acoustics and integrated controls, along with fully functioning kitchen and bar areas for refreshments. Do More. Pay Less. With a Home Equity Loan from Island Federal Credit Union .

#6 How Suite It Is!

Today’s master bedroom has evolved from a place to begin and end your day to a comforting antidote to our ever-busier lifestyles. Offering a combination of sleeping space, sitting areas and spa-like bathrooms, master bedrooms are packed with a variety of new features and amenities. Upgrades range from raised, beamed, or coffered ceilings to crown molding and chair rail finishes. Lighting is key, so look for recessed lighting with dimmers, or sconces and chandeliers that create ambiance. For natural light, replace windows, add skylights or French doors. Fireplaces are a perfect compliment to designated seating areas. One of the most in demand features of today’s bedroom suites is a walk-in closet…or two! And no master suite is complete without a spa-like bathroom. The perfect master suite works for both inhabitants, resulting in double sinks, closets and, even separate master bedrooms for each partner! Improve any home improvement project by financing with a fixed rate home equity line of credit from Island Federal Credit Union .

#7 Upscale Downstairs

A finished basement can be a good investment now — and for the future resale value of your home. Experts report a 70% payback when you transform an existing basement into extra living space. The first step in any basement remodel is proper insulation. Check the foundation for dryness and cracks, and ensure outside elevation is graded away from the house for proper drainage. Insulation with a vapor barrier on both sides can keep cold and damp out and heat in. Understand your local codes as they relate to any plumbing or electric work you may plan to do. Another factor to consider in a basement: Safety. Plan an escape route in the event of an emergency requiring evacuation. Add pizzazz to practicality with amenities such as a media-rich man cave, cedar closets, walk-in wine cellars, counter-topped laundry rooms, bar set-ups and/or an exercise studio. DIY your dream project financing. Talk to the professionals at Island Federal Credit Union about a Home Equity Line of Credit.

#8 Get Smart

Pundits are calling 2017 the year of the SmartHome. For homeowners, these high-tech assists can impact virtually every area of the home from smart bulbs designed to make us sleep better to smart watering systems for our gardens. Connecting a home to the Internet of Things (IoT) today includes Nest thermostats and smoke detectors, August smart locks, and Ring video doorbells, and personal home assistants like Google Home, Bosch’s Mykie and Amazon’s Alexa. Energy costs, especially on Long Island, are a key consideration for upgrading to an energy-efficient SmartHome. Plus, these automation devices allow you to program on-the-go and monitor and manage in real time.

Investing in smart features, especially those that would help reduce monthly expenses are expected to rise in popularity and increase home resale values – especially among first-time millennial buyers. Be smart about your home. Talk to your Island Federal Credit Union loan officer about a HELOC today!

Should You Stay or Should You Go?

Understand your reasons for change. Have you outgrown your current home? Need more room, or have an empty nest? Are the updates you seek better found in a new home? Has the neighborhood changed? Is it time to take advantage of lower interest rates? To help identify and itemize your needs, start with a list of what you like and what you don’t like about your current home. Then, create a list of improvements your home needs (in order of priority) and price them out so you can determine a rough budget for renovation. Finally, take a look at real estate listings in your desired area and get a good idea of what’s selling and at what price–and how much your dollar can buy you in a new home. Talk with a mortgage specialist at NEFCU, the credit union for better banking, about rates and purchase and refinancing options.

Good Reasons to Stay in Your Current Home

One of the key factors in deciding to stay or go is today’s economic outlook. The economy continues to show signs of growth and consumer confidence has improved. That confidence translates into job growth, wage increases and more consumerism. A good economy makes people feel good about the future and feel good about investing in home improvements. 2017 is shaping up to be a good year for construction with lower labor and building materials costs–both of which are forecasted to increase next year(2). Financing is affordable too; making 2017 a great time to take out a home equity loan or line of credit as home prices rise and loan rates remain relatively low.

Do the Math

If you opt for a remodel, compare your list of planned home improvements with those that generate the most resale value. Kitchens and baths traditionally offer the highest return on investment; 83% and 66%, respectively(3). The exact cost of remodeling your living space will depend on its size, the area you live in, and just how much of a face-lift it needs. Use the following as a good rule of thumb(4):

Low ($25,000 to $45,000): Interior and exterior painting, small repairs (like refinishing cabinets) and new landscaping.

Medium ($46,000 to $75,000): The low-cost upgrades above, plus a total kitchen renovation and bathroom upgrade.

High ($76,000 and up): Low- and medium-cost upgrades, plus fixing any foundation issues, roof and sewer line problems.

Financing Your Decision

Your home may be more than just a great place to live: it may be a great source of cash. In fact, your home’s equity–the difference between its current value and the amount you may still owe on its mortgage–can be used for a major renovation. Investigate both a fixed-rate home equity loan and a variable rate home equity line of credit to find the financing you need and can afford. NEFCU even offers a flexible home equity line that allows you to designate a portion of your line as a fixed rate loan, so you can enjoy the best of both worlds. Visit NEFCU at myNEFCU.org for details.

Good Reasons to Move

The same economic factors that make it palatable to stay and renovate your current home also make it advantageous to sell and purchase a new home. Low mortgage rates mean lower monthly costs, so now may be a good time to move in advance of any significant rate increases. While low mortgage rates help keep monthly payments low, housing inventory often determines options, cost and speed of sale. Many of these factors may benefit the seller. Carefully weigh your options and avoid overpaying for a home. Beyond economic rationales, a move to a new house also offers a chance for a fresh start–giving families the opportunity to bond in a new setting and neighborhood.

Money on the Move

If you’ve made the decision to move, you still need to plan and budget. Real estate experts estimate that the best time to sell your house on Long Island is winter–between December and March. According to real estate brokerage firm, Redfin®, February is the best time to list with an average of 66% of Long Island homeowners selling within 90 days. Smaller inventory during the winter months can help garner more than your asking price, and conversely, buyers find that sellers tend to negotiate more during the first quarter of the year. As the seller, be sure to allow for brokerage and attorney fees, transfer and title taxes as well as pick up/pay off fees to the title closer. If buying a single family home, allow even more in terms of budget for appraisal and escrow fees, bank fees, application, processing and recording fees, title insurance, mortgage tax, and any area taxes. The final line on your moving budget should also calculate packing and moving company fees.

NEFCU: Your Partner in Progress

Whatever option you choose–move or improve–your decision can benefit from input from a financial expert. As one of Long Island’s leading credit unions, NEFCU offers local expertise and affordable banking services for all Long Islanders. At NEFCU, you’ll find a full array of mortgage and home equity options to meet your needs–and at better rates and lower fees you won’t find at other institutions. Visit myNEFCU.org for details.

Sources:
(1)National Association of Realtors, Gallup, NY Times/CBS News Poll
(2)Dodge Data and Analytics, National Association of Home Builders/NAHB
(3)Nationwide Insurance, Home Improvement Value
(4)realtor.com

Content provided by Newsday’s Brand360 Department in partnership with NEFCU.

The Ties That Bind

LIRR Third Track Project Diagram

Third Track Brings Long Islanders Together for a Better Tomorrow

The two existing tracks along the project route were constructed in the 1800s, when the population of Long Island was 100,000 to transport people and freight between New York City and Boston via steamboat connection in Greenport. Almost 2 centuries later our population is now 3 million and four branches of the railroad now converge on the project path. This condition constitutes an extreme bottleneck that chokes the LIRR system, thereby severely constraining its expansion and modernization and turning it into a one-way street during peak service hours. Most importantly, it prevents the transit-oriented economic and community development that is essential if Long Island is to be competitive in a 21st century economy and attractive to the young people we want to live and work here. righttrackforlongisland.com

On Track for Change

The third track construction will bring jobs, income and a rise in Gross Regional Product (GRP) on Long Island. In fact, while the third track is being built: 2,250 construction jobs* will be created and personal income and GRP will increase by $910 million cumulative.

The Third Track Revives Long Island’s Job Growth

Over the last two decades, job growth on Long Island has been sluggish in contrast to the revival experienced by NYC. Compared to our suburban neighbors, Long Island is losing more young people due to lack of economic opportunity, the high cost of living and lack of housing and transit options.righttrackforlongisland.com

The Right Track Means Business

Business needs mobility to attract talent and young people. In a 21st century technology-based economy, clustered employment centers increase innovation and productivity. Over the next 10 years after a third track is completed, an estimated 14,000 new jobs will be created. How? By creating economic gains from close proximity between firms; by creating time savings due to more frequent and reliable service; and by creating better matches between employers and workers.

The Right Track Means More, Younger Long Islanders

A third track would add 35,000 new residents, and almost 40% of these new residents would be 25-44 years old – twice as many as compared to not having a third track. Why is this critical? Because young, working-age populations are key to revitalizing and growing the economy.

The Right Track Will Impact the Region’s Wealth

Construction of the third track would represent a $1.2 billion investment in the Long Island economy over a five-year period. Ten years after the third track’s completion the investment would result in 14,000 new jobs, $5.6 billion in additional Gross Regional Product (GRP), $3.0 billion in additional personal income and 35,000 new residents to Long Island, of whom 40% would be in the 25- to 44-year-old age cohort (compared to only 20% of Long Island’s total forecasted 2035 population without the third track).

The Right Track Expands Long Island’s Tax Base

The third track would generate $40 million in annual sales tax revenue and $103 million in annual property tax revenue as of 2035. The long-term benefits derived from the third track investment would generate a significant payoff for Long Island. In present-value terms, an investment of $1.1 billion produces cumulative benefits of: $7.7 billion GRP + 4,000 jobs by 2030; $36.3 billion GRP + 20,000 jobs by 2040; $67.9 billion GRP + 25,000 jobs by 2050.

A third track is the right track for Long Island

9.8 miles of track can make a multi-billion dollar difference for Long Island. We need the Third Track Now!

* Annual Jobs This infographic is based on a 2014 report written for the Long Island Index by HR&A Advisors, a leading economic development consulting firm and Parsons Brinkerhoff Inc, a global planning and engineering firm. Regional Plan Association also played a critical role in analysis and development of the report. All dollar values are given in 2013 dollars. Design: Amy Unikewicz/JellyFever Additional Images: ©Shutterstock.com/Maraga, ©Shutterstock.com/Weniworks. ©iStock.com/A-Digit, ©Thinkstock/Anatolii Babii

The news and editorial staff of Newsday had no role in the creation of this content

Brookhaven Lab Opens Its Doors for Summer Sundays

Summer Sundays open houses are a longstanding tradition at Brookhaven Lab. Visit a different world-class facility each week, speak with leading scientists, join in special activities for adults and children, and more–and it’s all free! Below, catch a glimpse of what you can discover at Summer Sundays.

Family Fun Day at the Science Learning Center

Enjoy a fabulous day of hands-on family fun at the Science Learning Center! Feel the thrill of scientific discovery at exhibits designed for school-aged children, and have fun with the fundamentals of science through hands-on activities about engineering, electricity, sound, and light. Also, in honor of Brookhaven Lab’s 70th anniversary and the 100th anniversary of Camp Upton–the U.S. Army camp founded where the Laboratory operates today–see a special display of Camp Upton artifacts and more.

Exploring the Ultra Small

Tour the Center for Functional Nanomaterials (CFN) at Summer Sundays, where Brookhaven Lab scientists study structures as tiny as a billionth of a meter for big advances in energy, national security, and more. At the CFN, discover the weird and wonderful things that happen at the ultra-small nanoscale with hands-on activities and see where scientists are working to understand and improve materials for energy and technology.

Brilliant Light, Dazzling Discoveries

Visit the National Synchrotron Light Source II (NSLS-II) during Summer Sundays at Brookhaven Lab to explore the brightest light source of its kind on the planet. Meet scientists who explore the inner structure of batteries, proteins, and space dust at the atomic scale in ways not possible before, thanks to the ultra-bright light created at NSLS-II. Sunglasses not required.

Atom-Smashing Fun

Explore the Relativistic Heavy Ion Collider (RHIC) at Summer Sundays, where particles smash together at near-light-speed to reveal secrets of our universe. Visit the nation’s only particle collider, which is nearly two-and-a-half miles around, to see how physicists study what the universe may have looked like in the first few moments after its birth. This facility tour is appropriate for ages 10 and over.

World-Class Science Powering Discovery, Right Here on Long Island

Scientists from across the United States and around the world travel to Brookhaven Lab for research at unique facilities like the Relativistic Heavy Ion Collider, National Synchrotron Light Source II, and Center for Functional Nanomaterials–all U.S. Department of Energy (DOE) Office of Science User Facilities. These large “user facilities” house tools that researchers in academia and industry need, but are too large and too complex for them to build and operate alone. Other research facilities at Brookhaven are not as big, yet they too are vital in powering discovery.

More than 26,000 staff who have worked at Brookhaven Lab–plus collaborators and students–have pursued exciting adventures exploring the unknown since the Lab’s founding in 1947. They identified particles that danced undetected for billions of years. They helped shape our understanding of the atom and the universe, while advancing medical imaging techniques and research in microbiology, Earth’s ecosystems, energy storage, and more. With important challenges and new capabilities–including “big data” and high-throughput computing–those explorations continue today.

The Laboratory is managed for DOE’s Office of Science by Brookhaven Science Associates (BSA), a partnership between the Research Foundation for the State University of New York–on behalf of Stony Brook University–and Battelle. BSA also engages six of the world’s premier research universities–Columbia, Cornell, Harvard, the Massachusetts Institute of Technology, Princeton, and Yale–in the governance and oversight of the Laboratory.

Learn more about Brookhaven Lab and its expanding history of explorations at the frontiers of discover in this Newsday special section. Can you, your family, and friends final the hidden pictures on pages 6 and 7? And see if you can answer the questions in the Discovery Science Quiz on the back page.