Now is the best time to buy pots, tools and other household items
The start of summer brings good deals on kitchen items, tools, some types of furniture and even new carpeting.
Q. I haven't seen your column yet on the best household-related items to buy in June so I can save some money. What gives?
A. Many of the best deals offered in June often carry into July or get even better around Independence Day, so I figured I'd combine the two months.
This usually is a great time to buy pots, pans, dishes, small kitchen utensils or even a microwave oven. That's because such items typically show up on June and July wedding-registry lists, and retailers are willing to cut prices to get their share of those sales.
Tools had been on sale several weeks leading up to Father's Day. But you'll likely see even bigger discounts in July as retailers slash prices on the tools that didn't sell in the previous month.
There still are some great deals out there on new furniture - discounts of 60 percent or more - especially if you're willing to settle for the current designs instead of insisting on the new models that will hit the stores later this summer. "To be honest, there's not a lot of difference between the current models and fabrics and the ones that will arrive soon in showrooms and stores," a top furniture stylist says. "So, why pay more for the same product?"
It may seem odd, but many carpet retailers and carpet installers also are willing to offer discounts now. One reason is that homeowners focus on hiring roofers during the summer while the weather is good and their work can get done before the rainy season arrives. The pricing power slowly shifts back to carpet sellers and installers in the fall and winter, because they can work inside instead of on a slippery roof.
Q. We are buying our first home, but we're confused about what date we should have the transaction close. My sister, who knows a lot about real estate, says we should close on the first day of the month. Our real estate agent, though, says we'll save more money if we close at the very end of the month. What do you think?
A. Take your agent's advice and close your transaction at or near the end of the month.
Unlike rent, which is paid in advance, mortgages are paid in arrears. In an example provided by mortgage giant LendingTree, if you closed on a $200,000 home loan at 5 percent on the 15th of this month, you'd owe 15 days of interest at $27.40 per day. That's a total of $411.
If you instead closed on the 29th, you'd owe only $54.80 in interest at closing and wouldn't have to make your second payment until August. That's a savings of $356.20 in out-of-pocket cash - money that could come in handy to pay moving-related expenses or buy some small items for your new home.
Q. I am hoping you'll warn your readers about an important product recall regarding a popular new type of "swinging" chairs. We bought two Ramart Swing Chairs from the HomeGoods retail chain in May, and my husband fractured his wrist just a few days later when the chair tipped over. We have since received a notice that the chairs are being recalled. The notice came too late to protect my husband, but maybe you can protect others by including our story in your column.
A. I'm happy to do so. The federal Consumer Product Safety Commission issued a recall for about 300 of the Ramart chairs on June 11, barely three months after they began appearing in many of the roughly 400 HomeGoods stores across the nation.
According to the CPSC, the recall involves green, apple-shaped swing chairs and brown, teardrop-shaped swing chairs. They hang from a chain connected to a metal stand with a circle-shaped base. HomeGoods has reported about a dozen injuries due to the malfunctions, including at least one suffered by an infant.
The chairs, which sold for about $400 each, are made from plastic rattan and have red cushions. They measure about 42 inches in diameter and are 43 inches tall, with a 48-inch-wide seat cushion. The stand that they hang from measures about 77 inches tall.
The government says people who own these chairs should stop using them immediately. HomeGoods is acting responsibly by giving a full refund for each chair that's returned.
Details about the return program can be obtained by calling the retailer at (800) 888-0776 between 8 a.m. and 5 p.m., or by visiting www.homegoods.com or cpsc.gov on the Internet.
The HomeGoods/Ramart recall is the second involving hanging chairs in recent weeks. On June 4, cut-rate retailer Big Lots recalled a staggering 16,000 chairs made in China due to tip-over concerns. Details of the buyback plan are available by calling Big Lots toll-free, (866) 224-5687, Monday through Friday between 8 a.m. and 4 p.m., or by visiting biglots.com or the CPSC's website.
Real estate trivia: LendingTree reports that homebuyers in Indiana make the smallest average down payment on a house, at $24,438. Buyers in Washington, D.C., make the largest, at $89,916.
• For the booklet "Straight Talk About Living Trusts," send $4 and a self-addressed, stamped envelope to David Myers/Trust, P.O. Box 4405, Culver City, CA 90231-4405.
© 2015, Cowles Syndicate Inc.