Outdoor Turkey Frying: Tips and Tricks

Thanksgiving is on its way, and for most of us, that means turkey. In recent years, fried turkey has grown significantly in popularity; this has led to a lot more people deciding to pick up a large fryer and try their hand at frying their own at home. Unfortunately, this has led to a sharp increase in fryer-related accidents as well. Nothing can ruin a Thanksgiving faster than fryer incidents that result in burns, fires or other serious problems.

To that end, let’s look at a few ways to keep your turkey-frying adventures safe. Whether you’re a first-time fryer or a seasoned turkey-frying pro, here are some things to keep in mind to help keep your holiday safe.

Picking the Right Fryer

There are a few different options available when it comes to turkey fryers. You can opt for a propane fryer that heats with a burner or an electric fryer that you need to plug in. Regardless of the option you choose, make sure that it has temperature controls so that you can keep the oil below its smoke point. One of the big causes of fires at Thanksgiving is that people turn turkey fryers up too high and the oil starts to burn.

Proper Turkey Preparation

While everyone loves the thought of a big juicy turkey as a centerpiece, if you’re frying a turkey, you’re better off going with a smaller bird. Ideally you should opt for a turkey that’s no more than 8 to 10 pounds, or 12 pounds at the upper limit. While fryers can typically handle more than this, bigger birds are more likely to cause oil spills as you put them into the fryer pot. Make sure that frozen turkeys are completely thawed and patted dry and avoid using any water-based marinades to season the bird. Dry brining or other dry rubs are best when prepping your turkey.

Choosing the Right Location

Make sure that your fryer is on a flat, level and solid surface before filling it with oil. Don’t place the fryer on a deck, porch or other area where the surface underneath could shift or shake as people walk by. Don’t place the fryer under trees, near piles of leaves or around other flammable materials. If possible, place the fryer in a place that doesn’t get much foot traffic and where you can easily keep children and pets away.

Watch the Weather

Rain, snow and other inclement weather can cause major problems with turkey fryers, so only fry a turkey outside if the weather will be nice for the entire time that the fryer is hot. If you have a covered carport or garage then this may be a safe place to fry the turkey provided that it can’t be affected by heavy winds or other weather problems.

Be Safe While Frying

Wear eye protection, heat-protectant gloves and long sleeves while around the fryer. Always place the turkey into the oil slowly, don’t just drop it in. If using propane, turn the burner off before placing the turkey in the oil and then turn it back on once the risk of splashes or spills is over. Make sure that somebody is watching the fryer at all times, even if everything seems to be going well.

Have Your Bases Covered

Everyone wants to have a perfect holiday, but it never hurts to plan for the what-ifs and accidents that can take us by surprise. Before frying up the perfect turkey, don’t forget that you can use HomeKeepr to connect with an agent to get you a great deal on your insurance coverage. Sign up for a free account today so you’ll be set once the fryer is going.

Home Equity Loan or Line of Credit: Which is Better for You?

As you make payments against your mortgage, you build equity in your home. This equity can be used to secure future loans, making it easier to refinance your home or cover certain other expenses. Depending on your needs, you might consider taking out a home equity loan or a home equity line of credit (HELOC). The question is, which one is the better option for your current situation?

This is actually kind of a tricky question. Let’s look at what the differences are between these two ways of using equity and the situations that each is best for. That should give you a good idea of exactly how well each option fits your needs so you can choose the home equity solution that’s best for you.

What Is a Home Equity Loan?

As the name implies, a home equity loan is a loan that uses the equity you’ve built in your home as collateral. As with other standard loans, when you’re approved for the loan you receive the entire amount of the loan as a lump sum payment. Typically, the amount of a home equity loan is capped by the amount of equity you have in your home, with the new loan serving as a lien against the home. Home equity loans typically feature fixed interest rates and fixed repayment terms, with the most common terms being 10 or 15 years. As with other loans, you’re required to make monthly payments against the home equity loan until it is repaid in full.

What Is a HELOC?

A home equity line of credit is similar to a home equity loan in some ways, with the biggest similarity being that they are both borrowed against the equity in your home. Unlike a home equity loan, however, a HELOC does not give you a lump sum of money once the loan is approved. Instead, you receive a debit card or checkbook that you can use to access the line of credit. You’re only charged interest on the amount you’ve borrowed against the HELOC, and feature fluctuating interest rates and balloon payments after a certain period of time. There is also an advance period on the loan which is the time period in which you can access money from the line of credit; after this period ends, you can no longer borrow against it.

When to Get a Home Equity Loan

Home equity loans are great if you have a single expense or purchase to make and will need all of the money around the same time. Because they feature fixed interest rates, you know how much your monthly payment will be for the entire life of the loan. When you take out a home equity loan you get your money, pay for your purchase or other expense and then start repaying what you’ve borrowed. It doesn’t get much simpler than that.

When to Get a HELOC

A home equity line of credit is a better option if you have multiple purchases or expenses that you have to pay out over a period of time. Many feature low introductory interest rates, allowing you to save money during the first several months because you’re being charged less on the initial purchases you have to make. Some homeowners also take out HELOC loans if they don’t have specific needs but want to have a safety net to cover possible purchases or emergencies; since they’re only charged interest on the amount that they actually borrow against the loan, that safety net can wait for the entire advance period without raising interest charges if the funds aren’t actually needed.

Getting Some Expert Advice

Sometimes it’s hard to tell exactly what type of equity product is best for your needs. Fortunately, HomeKeepr can help you find lending experts who can help you decide on the best option for your personal situation. Sign up for a free account today to get matched with an equity pro!

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Millennials Buying Homes: What’s Trending?

Though there are a number of stereotypes surrounding Millennials, they actually make up a fairly significant part of the economy. More importantly, their economic strength as a group seems to be growing by the day. As of 2019, Millennials make up approximately 37 percent of home buyers… that’s a bigger share than any other generation, including Baby Boomers! So what exactly are these Millennials buying, and what trends are growing along with their increasing representation in the market? Let’s take a closer look and find out.

First-Time Buyers

Approximately 52 percent of Millennials who are buying homes are first-time home buyers. This makes sense for younger Millennials, but even older Millennials who were born in the 80s still see a significant number of first-time buyers. Before buying, a large number of these Millennials were renting homes. By buying homes, they can enjoy the benefits of ownership and build equity for similar amounts (or in some cases, less) than they were paying each month in rent previously.

Family Homes

The majority of home-buying Millennials are buying single-family homes. This is in part because over 50 percent of them are either married or in long-term relationships; in fact, in 2018 there were more married couples among home-buying Millennials than there were in any other generational group that was in the market for a house. A significant number of Millennials also have children under the age of 18 living at home, further increasing the need for a family-friendly home.

Motivation to Buy

The majority of Millennials who have bought homes within the last year did so simply because they wanted to own a home of their own. Some wanted to own a larger home, be closer to friends and family or were moving due to job relocation, but the general desire to own a home was listed as a reason for buying by as many Millennials as ones that gave all other reasons combined. A lot of this came down to the opportunities that were present as well; over 50 percent of Millennials report that it was “just the right time” to buy a home, while the second most common reason (that they didn’t have much choice and had to buy when they did) was only reported by around 10 to 15 percent of Millennials.

Back to the Suburbs

One big trend among Millennial home buyers is that they were buying homes in the suburbs. This wasn’t restricted only to Millennials, either; 51 percent of all homes purchased in 2018 were located in suburban areas or subdivisions. The Millennials fell pretty close to this statistic, with small towns being the second most common location. A vast majority of these homes were previously owned; though there have been a number of new subdivisions built around the country in recent years, only a small percentage of Millennials are buying into them.

Biggest Factors

There are a number of factors that affected the purchasing decisions of Millennials. The presence of public transit or proximity to work was one major factor, with many Millennials trying to minimize commuting costs. Heating and cooling efficiency also played an important role. In general, Millennials were more willing to compromise on price than on a home’s condition, but only around 20 percent were willing to compromise on the distance of their new home from work.

Home Shopping Trends

By far, the majority of Millennials started their home search by looking online to try and find properties for sale. Around 15 percent spent even more time online than that, starting their search by researching the ins and outs of the home buying process before even starting to look at properties. Beyond online sources, Millennials trusted real estate agents and Realtors the most for information about homes for sale. The entire process took about 10 weeks on average before finding the home they wanted to buy, though a real estate agent was involved for the last 7 or so weeks of the search.

In the Market?

Are you a Millennial in the market for a new home? You’re in luck, because HomeKeepr can connect you with a mortgage expert to help you get into the home of your dreams. Sign up for free today to take that first step toward home ownership.

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