renting http://www.wisebread.com/taxonomy/term/4006/all en-US The Easy Way to Sublet Your Apartment http://www.wisebread.com/the-easy-way-to-sublet-your-apartment <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-easy-way-to-sublet-your-apartment" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/getting_sorted_the_new_apartment.jpg" alt="Getting sorted the new apartment" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Breaking a lease is usually an expensive proposition, but it's a situation that may be necessary for a number of reasons. A new job, moving in with a partner or spouse, or the need for more space are all scenarios where you might need to break a lease. (See also: <a href="http://www.wisebread.com/8-moves-to-make-if-you-need-to-break-your-lease?ref=seealso" target="_blank">8 Moves to Make If You Need to Break Your Lease</a>)</p> <p>If you find yourself in any of these situations, the best option may be to sublet the apartment. Someone else gets a much-needed place to live without committing to a full-term lease, you don't waste money paying a penalty to your landlord, and your landlord doesn't have to scramble to get the apartment filled before the end of your lease. Everyone wins.</p> <h2>First things first</h2> <p>Check your lease. Is subletting specifically prohibited? If so, approach your landlord. How you approach your landlord will depend upon your existing relationship with him or her. If you can just be honest and explain what you want to do, great!</p> <p>Assuming that you decide to proceed with subletting, here are a few steps to make the process as smooth as possible.</p> <h2>1. Ask friends and family members first</h2> <p>Before putting the apartment on a listing site, check with your friends and family members. Would one of them be interested in subletting from you, or do they know someone who would? A personal connection and referral almost always beats a random subletter, provided your friends and family members are responsible and respectful of the space.</p> <h2>2. Set boundaries</h2> <p>Are there certain rules that someone who sublets your apartment needs to follow? These could include no smoking, sorting the trash, collecting your mail, pet policies, or taking care of your belongings for an extended period of time. Make sure you're clear and upfront about these types of expectations so there are no gray areas down the road.</p> <h2>3. Have a proper sublease in place</h2> <p>Subletting an apartment shouldn't be done on a handshake, even if it is between friends or family members. To protect both parties, draft up a simple lease. There are a number of free templates available online. <a href="https://www.rocketlawyer.com/form/sublease-agreement.rl#/" target="_blank">Rocketlawyer</a> is a popular option for this, as is <a href="https://www.lawdepot.com/contracts/sublet-agreement/?loc=US#.WXJY_9PysY0" target="_blank">LawDepot</a>. The lease should include the monthly (or weekly) rate for the sublease, the beginning and ending dates of the lease, the name of the person (or people) who are going to be living in your apartment, and any of those boundary specifics mentioned above.</p> <h2>4. Collect a security deposit</h2> <p>It's a smart idea to collect a security deposit from the person or people who sublet your place. This can be helpful if the renters need to break their sublease or if there is damage done to the apartment. Remember, even though you're subletting, you are still legally responsible for the condition of the apartment when the lease is up, and if there are damages, your landlord may charge you for the repairs.</p> <h2>5. If subletting isn't an option, consider a swap</h2> <p>A few years ago, I wanted to try living in California for the summer. Rather than sublet my place in New York and find a sublet in California, I arranged a swap. A mother and daughter stayed in my apartment while I lived in their condo in Santa Monica. We followed all of the same steps above that I outlined for a sublease and we both got a summer experience we would never forget.</p> <p>In my situation, I wrote a post on my blog and someone found the post. It all worked out in a pretty magical way. If I tried this again, I would work through my network first to see if I had any friends, family members, or friends of friends who would be interested. If that didn't work out, I would try one of the new housing swap services that have popped up since I did my home exchange.</p> <p><a href="https://www.homeexchange.com/en/" target="_blank">HomeExchange.com</a> has more than 65,000 homes in 150 countries. Members pay $9.95 per month to list their property with the service. They facilitate over 120,000 swaps per year.</p> <p><a href="https://www.lovehomeswap.com/how-it-works" target="_blank">Love Home Swap</a> is another site with a few different swap models. You can do what they call a &quot;Classic Swap&quot; in which you go to someone else's home and they go to yours for a specific amount of time. They also have a &quot;Points Swap.&quot; Rather than having to agree on dates and location, you rent out your place whenever it's available for points instead of money. Then you can use those points to make a reservation for an available property on the site when you want to travel.</p> <p>Before you use a service to facilitate a swap, make sure the site is secure, that it verifies each user's identification, and the service has legitimate reviews on sites like Yelp. With any swap, have a legal agreement in place between you and the other party to make sure there are no surprises and that all terms are clear.</p> <p>If life leads you in a direction away from your current lease, don't resist that call. There are numerous ways to manage a lease rather than have it manage you.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/christa-avampato">Christa Avampato</a> of <a href="http://www.wisebread.com/the-easy-way-to-sublet-your-apartment">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-moves-to-make-if-you-need-to-break-your-lease">8 Moves to Make If You Need to Break Your Lease</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-questions-landlords-cant-ask">10 Questions Landlords Can&#039;t Ask</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-11-best-websites-for-renting-your-extra-space">The 11 Best Websites for Renting Your Extra Space</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-ways-to-rent-an-apartment-with-bad-credit">7 Ways to Rent An Apartment With Bad Credit</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-smart-ways-to-get-your-apartment-deposit-back">7 Smart Ways to Get Your Apartment Deposit Back</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing agreements apartments contracts house swap landlords renting sublease subletting Fri, 08 Sep 2017 08:30:10 +0000 Christa Avampato 2016671 at http://www.wisebread.com How to Turn Your Backyard Into a Moneymaker http://www.wisebread.com/how-to-turn-your-backyard-into-a-moneymaker <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-turn-your-backyard-into-a-moneymaker" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/in_gardening_business.jpg" alt="In gardening business" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Having a backyard costs money. Not only do you pay to own that space, but you also have to shell out for upkeep and maintenance. Regardless, your little plot of land could actually be the answer to your financial woes. Don't just spend money on your yard &mdash; make some money with it. Here are several clever ways to monetize your outdoor space.</p> <h2>Build a tiny rental house</h2> <p>Due to the housing crunch in major metropolitan areas, cities around the United States are relaxing zoning codes or creating new housing laws to deal with the shortage of rental properties. In Los Angeles, it is now legal to turn your garage into an apartment or build a &quot;granny flat&quot; in your backyard. Given that the average monthly rent for a one-bedroom apartment in Los Angeles in July 2017 was $2,209, according to Rent Jungle, converting an existing outdoor building into a living space, or even building one from scratch, is a real estate investment worth consideration.</p> <h2>Turn your property into a private campground</h2> <p>Do you live within walking distance of a convention center, major hospital, or historic center? My friend MaryAnn has been renting out tricked-out vintage trailers in her backyard since before online rentals were even a thing. (See also: <a href="http://www.wisebread.com/5-easy-ways-to-make-good-money-from-airbnb?Ref=seealso" target="_blank">5 Easy Ways to Make Good Money From Airbnb</a>)</p> <p>But even if you don't have a prefab shelter, don't let that stop you. If you live close to a natural wonder, a killer surf break, or a unique trailhead, you can rent out your backyard as a private campground to backpackers and glampers via <a href="https://www.hipcamp.com" target="_blank">Hip Camp</a>.</p> <h2>Sell your surplus backyard produce</h2> <p>I have a gigantic Mission fig tree in my backyard. Although I personally hate figs, I love this tree. Every year, I make several hundred dollars selling ripe figs and my award-winning fig jam to my neighbors, from the comfort of my front porch. People will pay a premium for organic, seasonal produce, especially rare varieties that are hard to find in stores.</p> <h2>Sell your trees</h2> <p>My neighbor just chopped down the 70-year-old Canary Island date palm tree in his front yard because he was tired of cleaning up palm fronds. Alas, he could have saved himself the hard work and made hundreds of dollars <a href="http://www.wisebread.com/money-in-your-yard-how-to-sell-palm-trees-for-cash" target="_blank">selling this tree</a> to a commercial landscaper. Before you chop mature trees, check with your local arborist about your tree's potential resale value.</p> <h2>Raise bees or rent your yard to a beekeeper</h2> <p>As a backyard beekeeper, I am on track to make about $4,000 this year selling honey to my urban neighbors and selling bees to local farmers. And, because Los Angeles limits me to keeping just two hives on my property, I am always on the hunt for people willing to keep two hives on their property in exchange for a percentage of the honey harvest.</p> <h2>Keep city chickens</h2> <p>In an effort to keep food waste out of the landfill, the city of Austin, Texas is offering a <a href="http://www.kvue.com/news/local/city-giving-free-classes-cash-to-austinites-who-plan-on-keeping-chickens/431009868?fb_comment_id=1097551370349084_1097597210344500#f31b6d9f013fb8c" target="_blank">$75 rebate</a> to Austinites who keep backyard chickens.</p> <p>Beyond the green street cred you will gain from chicken-based recycling, <a href="http://www.wisebread.com/how-to-raise-backyard-chickens" target="_blank">raising your own chickens</a> comes with a host of benefits. The chickens can eat your food scraps and create healthy soil, all while giving you free eggs. That said, be sure to do the math before investing in a backyard chicken empire. In urban areas like Los Angeles, where fresh, organic chickens sell for $20 and no one blinks an eye at paying $1 per backyard egg, it's easier to make money raising chickens than in some other places. Check your local poultry economy to accurately assess your return on investment.</p> <h2>Grow vegetable seedlings</h2> <p>Lora, my gardener, discovered that she could make more profit growing and selling heirloom vegetable seedlings (with less effort) than she could by growing landscaping plants. Heirloom vegetable seeds cost a few bucks per package, but she sells seedlings for $1 each at her the local farmers market a &mdash; 1,400 percent markup!</p> <h2>Sell your garden space or expertise</h2> <p>Most community gardens are on the lottery system. Only a fraction of the people who want to grow their own food have access to arable land. If you have space to spare in your backyard, try renting out your land to local greenthumbs.</p> <p>If you're creative with your own garden and landscaping, you might be able to market that expertise. My friend Judy accidentally launched her career as a garden designer after fixing up her own backyard.</p> <h2>Offer your yard as a wedding and party venue</h2> <p>Is your garden or farmland picturesque? Rustic weddings are all the rage these days. Connect with local wedding and event planners in your area to find out how much you can make renting out your pristine lawn or barn.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fhow-to-turn-your-backyard-into-a-moneymaker&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHow%2520to%2520Turn%2520Your%2520Backyard%2520Into%2520a%2520Moneymaker.jpg&amp;description=How%20to%20Turn%20Your%20Backyard%20Into%20a%20Moneymaker"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/How%20to%20Turn%20Your%20Backyard%20Into%20a%20Moneymaker.jpg" alt="How to Turn Your Backyard Into a Moneymaker" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/max-wong">Max Wong</a> of <a href="http://www.wisebread.com/how-to-turn-your-backyard-into-a-moneymaker">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-decorative-plants-you-can-eat-too">6 Decorative Plants You Can Eat, Too</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-sell-your-hair-for-cash">How to Sell Your Hair for Cash</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-fast-ways-to-restock-an-emergency-fund-after-an-emergency">6 Fast Ways to Restock an Emergency Fund After an Emergency</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-ways-to-make-money-outside-your-day-job">15 Ways to Make Money Outside Your Day Job</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-ways-to-make-amazon-pay-you">7 Ways to Make Amazon Pay YOU!</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Extra Income backyard beekeeper camping chickens DIY gardening home and garden plants renting selling vegetables Mon, 28 Aug 2017 08:30:15 +0000 Max Wong 2010037 at http://www.wisebread.com 5 Reasons Building Credit in College Helps You Win at Life http://www.wisebread.com/5-reasons-building-credit-in-college-helps-you-win-at-life <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-reasons-building-credit-in-college-helps-you-win-at-life" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_credit_card_514475258.jpg" alt="Woman building credit in college" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>As a college student, your credit score probably isn't a priority. You're too busy worrying about exams, homework, and scraping together enough money for a pizza on Friday night. But building good credit when you're in college is important. It can make it easier to rent an apartment, apply for a good credit card, and buy a car once you graduate. (See also: <a href="http://www.wisebread.com/the-5-best-credit-cards-for-college-students?ref=seealso" target="_blank">The 5 Best Credit Cards for College Students</a>)</p> <p>Many college students graduate with no credit score at all. That's because they've never used a credit card or paid off an installment loan, such as for a car or mortgage. They haven't even started paying off their student loans yet.</p> <p>Graduating with no credit makes life after college more challenging. Here are five big reasons why you should start building good credit when you're still in school.</p> <h2>1. Renting an apartment</h2> <p>In a recent survey by national credit bureau TransUnion, 48 percent of apartment landlords said that the results of a credit check rank among the top three factors they consider when deciding to lease an apartment to a potential renter.</p> <p>If your credit is bad, or if you don't have any credit at all, you'll struggle to rent an apartment on your own. You might have to rely on a co-signer, usually a parent, to sign the lease with you. If you can't find a co-signer, and you haven't built any credit while in college, finding your dream apartment, or even just a starter apartment, can get difficult.</p> <h2>2. Buying a car</h2> <p>Unless you buy a car with cash, you'll probably have to apply for an auto loan to finance the purchase of a new vehicle. Auto lenders study your credit, too. If they find that you don't have any history behind you, they'll be far less likely to approve you for the loan you need to buy that new car.</p> <p>Again, you might have to rely on finding a co-signer. This can be even more difficult for an auto loan. Not only are co-signers on an auto loan responsible for any payments you don't make, the loan will also be counted as their debt. This can make it more difficult for your co-signer to apply for new loans of their own.</p> <p>Overall, it's much easier to walk into an auto dealership knowing that you already have a credit history of your own.</p> <h2>3. Applying for student loans</h2> <p>You'll want a good credit history if you'll need to apply for private loans to help finance the cost of graduate or professional school. It's easier to get federal PLUS loans for graduate and professional schools with a lower credit score. However, you are limited in how much you can borrow through these federal sources.</p> <p>If you must borrow more, you might have to rely on private loans. And private lenders will take a close look at your credit. If you don't have a credit history, qualifying for one of these loans will be more challenging.</p> <h2>4. Being approved for credit cards</h2> <p>There are plenty of credit cards out there with <a href="http://www.wisebread.com/the-best-low-interest-rate-credit-cards?ref=internal" target="_blank">low interest rates</a> and valuable rewards programs. They can give you <a href="http://www.wisebread.com/5-best-cash-back-credit-cards?ref=internal" target="_blank">cash back on purchases</a> or let you <a href="http://www.wisebread.com/top-5-travel-reward-credit-cards?ref=internal" target="_blank">earn travel rewards</a> when you use your card.</p> <p>Without a credit history, and the credit score that comes with one, you'll struggle to qualify for one of these good cards. You might instead have to settle for a basic card with a higher interest rate.</p> <h2>5. Getting car insurance</h2> <p>Not having a credit history can even make qualifying for car insurance more of a challenge. If you do want to drive, and you can no longer stay on your parents' auto insurance policy, you'll have to apply for car insurance on your own. And many insurance companies today look at their own version of a credit score when determining who qualifies for insurance and at what rates.</p> <p>The lower your credit-based insurance score, the less likely you'll qualify for auto insurance &mdash; and the more likely you'll have to pay a higher premium if you do qualify.</p> <h2>Building a credit history</h2> <p>The best way to build a credit history while in college is to apply for a student credit card. These cards often come with lower limits. Some might even be <a href="http://www.wisebread.com/what-are-secured-credit-cards?ref=internal" target="_blank">secured cards</a>, meaning that you have to make a deposit into a bank account associated with the card. This deposit makes up your credit limit. (See also: <a href="http://www.wisebread.com/how-to-use-credit-cards-to-improve-your-credit-score?ref=seealso" target="_blank">How to Use Credit Cards to Improve Your Credit Score</a>)</p> <p>Once you get a card, use it, but use it wisely. Only buy what you can afford to pay off in full each month. Then pay off your entire balance by every due date. As you generate a record of on-time credit card payments, you'll steadily build a credit history. At the same time, you'll start building a solid credit score, too.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F5-reasons-building-credit-in-college-helps-you-win-at-life&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F5%2520Reasons%2520Building%2520Credit%2520in%2520College%2520Helps%2520You%2520Win%2520at%2520Life.jpg&amp;description=5%20Reasons%20Building%20Credit%20in%20College%20Helps%20You%20Win%20at%20Life"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/5%20Reasons%20Building%20Credit%20in%20College%20Helps%20You%20Win%20at%20Life.jpg" alt="5 Reasons Building Credit in College Helps You Win at Life" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/5-reasons-building-credit-in-college-helps-you-win-at-life">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/debunking-8-common-credit-score-myths">Debunking 8 Common Credit Score Myths</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-every-parent-should-know-about-the-new-college-financial-aid-rules">What Every Parent Should Know About the New College Financial Aid Rules</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-money-moves-every-new-college-student-should-make">7 Money Moves Every New College Student Should Make</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-what-you-need-to-know-before-buying-a-college-meal-plan">Here&#039;s What You Need to Know Before Buying a College Meal Plan</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-surprising-ways-bad-credit-can-hurt-you">15 Surprising Ways Bad Credit Can Hurt You</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Education & Training building credit co-signers college credit history credit score loans payment history renting students Mon, 28 Aug 2017 08:30:14 +0000 Dan Rafter 2010394 at http://www.wisebread.com Why I Choose to Rent Instead of Buy http://www.wisebread.com/why-i-choose-to-rent-instead-of-buy <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/why-i-choose-to-rent-instead-of-buy" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/new_beginnings.jpg" alt="New beginnings" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Conventional wisdom says that buying a home is a smarter financial decision that renting. However, homeownership is a huge decision, and it can be an expensive option. Owning a home is not for everyone, and for some, renting can actually be the more cost-effective choice.</p> <p>That's certainly the case for me. Despite earning a good income, my husband and I have decided to rent for the foreseeable future. Here's why it makes sense for us.</p> <h2>1. Affordable housing is hard to find</h2> <p>We live in one of the most highly-desired towns in the Central Florida region. A single-family, 1,200 square foot home in our neighborhood starts at $350,000. Even if you do find a home at that price, they often need significant improvements to be livable. Typically, houses in that price range need new roofs or foundation work.</p> <p>If we put 20 percent down on a home &mdash; a whopping $70,000 &mdash; our monthly payment for the mortgage, insurance, and taxes would be about $1,600 a month. Besides coming up with a huge down payment, that's a high monthly bill.</p> <p>While the housing market is extremely competitive in our neighborhood, rentals are much more affordable. We rent a large two-bedroom apartment with granite countertops, stainless steel appliances, hardwood floors, and resort-like amenities for just $1,300. And we didn't have to come up with a large payment to move in.</p> <p>The lack of affordable housing is a nationwide issue. Particularly in areas like New York City or San Francisco, buying a home can be out of reach for most Americans. In those cases, it can make more sense to rent than buy.</p> <h2>2. Maintenance isn't my problem</h2> <p>If we were to buy that $350,000 home, the down payment and monthly mortgage payment would be only a small portion of our home expenses. We'd have to budget to prepare for other expenses, like emergencies. If the roof needs repairs, or if the appliances break, we'd have to cover the cost of the replacement.</p> <p>With renting, all I need to do if there's a problem is call my landlord. Within 24 hours, they'll have the problem fixed. Not having to worry about the extra cost is helpful and gives me peace of mind. (See also: <a href="http://www.wisebread.com/what-it-really-costs-to-own-a-home?ref=seealso" target="_blank">What It Really Costs to Own a Home</a>)</p> <h2>3. Homes are not an investment</h2> <p>Houses are often touted as a good investment. However, the recession of 2008 showed how flawed that idea was. There's no guarantee that a home's value will increase over time, and there is a chance it could decrease.</p> <p>The homes that go for $350,000 in our area sold for $500,000 pre-recession. But in 2008&ndash;2010, those same homes plummeted to under $180,000. For homeowners who took the plunge to buy, they lost a lot of money and either saw their bank foreclose on their homes or are still underwater.</p> <p>To me, homes are a place to live, not an investment. My goal is to have a safe place to live, not to earn money. (See also: <a href="http://www.wisebread.com/heres-why-your-house-is-not-an-investment?ref=seealso" target="_blank">Stop Thinking of Your House as an Investment</a>)</p> <h2>4. Flexibility is key</h2> <p>Homeownership scares me because it feels permanent. Of course, you could sell the home if you need to move, but that process can be long and complex. And you can end up losing money on the deal.</p> <p>Renting gives me more flexibility. If an opportunity pops up on the other side of the country, I just have to pay to break my lease and am free to leave. Having that option is reassuring in a sometimes tough job market.</p> <h2>5. We have other priorities</h2> <p>If homeownership is your goal, you may have to sacrifice other things to make it possible. To save for a down payment, you may have to cancel your retirement contributions, or take money out of your emergency fund.</p> <p>Contributing the maximum to my 401(k) and building my emergency fund are important to me. Because buying a home would mean postponing those goals, home searching just isn't in the cards.</p> <h2>Buying a home</h2> <p>Whether or not to buy a home is a very personal decision. While many say that homeownership is essential for financial security, it's not the only option available to you. Depending on your circumstances, renting can give you more disposable income each month and more freedom to pursue your other goals.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fwhy-i-choose-to-rent-instead-of-buy&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FWhy%2520I%2520Choose%2520to%2520Rent%2520Instead%2520of%2520Buy.jpg&amp;description=Why%20I%20Choose%20to%20Rent%20Instead%20of%20Buy"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Why%20I%20Choose%20to%20Rent%20Instead%20of%20Buy.jpg" alt="Why I Choose to Rent Instead of Buy" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kat-tretina">Kat Tretina</a> of <a href="http://www.wisebread.com/why-i-choose-to-rent-instead-of-buy">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-questions-to-ask-before-signing-a-lease">10 Questions to Ask Before Signing a Lease</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/buying-a-home-without-a-20-down-payment">Buying a Home Without the Money</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-easy-way-to-sublet-your-apartment">The Easy Way to Sublet Your Apartment</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-simple-way-to-decide-how-much-rent-you-can-really-afford">The Simple Way to Decide How Much Rent You Can Really Afford</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-questions-landlords-cant-ask">10 Questions Landlords Can&#039;t Ask</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing affordable housing apartments buying a home flexibility housing markets maintenance mortgage renting Mon, 10 Jul 2017 08:00:08 +0000 Kat Tretina 1977387 at http://www.wisebread.com Stop Thinking of Your House as an Investment http://www.wisebread.com/heres-why-your-house-is-not-an-investment <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/heres-why-your-house-is-not-an-investment" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/saving_to_buy_a_house_or_home_savings_concept.jpg" alt="Saving to buy a house or home savings concept" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Your house is many things: It's a place to raise your children, hold family parties, relax on weekends and, maybe, rent out for a bit of extra cash.</p> <p>But here's one thing that many economists believe it is not: an investment.</p> <p>That flies in the face of what you might believe. After all, if you buy your home for $200,000 and then sell it 15 years later for $270,000, you've made $70,000, right? That sounds like a good return on investment, but it's actually not.</p> <p>That profit doesn't include all the property taxes you've paid on your home, the interest you've paid on your mortgage loan, or all the money you've spent on maintaining your residence.</p> <p>The fact is, the only time a home might truly be a good investment is when you're downsizing or moving to an apartment after selling it.</p> <h2>Sobering numbers</h2> <p>In a 2014 interview with USA Today, economist and housing expert Robert Shiller explained why consumers should not think of housing as an investment.</p> <p>From 1890 through 2012, <a href="https://www.usatoday.com/story/money/personalfinance/2014/05/10/why-your-home-is-not-a-good-investment/8900911/" target="_blank">home prices adjusted for inflation</a> did not grow at all, according to Shiller's research. During the same period, though, stocks did. Shiller found that the S&amp;P 500 increased by more than 2,000 times during those same years, adjusted for inflation.</p> <p>Shiller found that there have been long periods of time in which housing values when adjusted for inflation fell. He said that from 1890 through 1980, real home prices dropped by about 10 percent.</p> <p>Personal financial blog Observations also looked at inflation-adjusted housing prices from 1900 through 2012. According to these numbers, the average annual price for U.S. homes was just <a href="http://observationsandnotes.blogspot.com/2011/07/housing-prices-inflation-since-1900.html" target="_blank">0.1 percent a year</a> after inflation.</p> <p>These numbers make it clear: You should buy a house because it's a house, you need a place to live, and you don't want to rent. You shouldn't buy a house thinking that you're making a great financial investment. (See also: <a href="http://www.wisebread.com/rent-your-home-or-buy-heres-how-to-decide?ref=seealso" target="_blank">Rent or Buy a Home? Here's How to Decide</a>)</p> <h2>It's not easy to get your cash from an investment in housing</h2> <p>There are other aspects of houses that make them less-than-ideal as investments. The biggest? It's not easy to turn your home into cash.</p> <p>Sure, your home might have risen in value during the 10 years you've owned it. (Even if, as shown above, when adjusted for inflation, that appreciation might be negligible.) But accessing this appreciation isn't easy. You'll have to sell your home to get at whatever money it's made.</p> <p>Selling a home is no simple task. It's time-consuming. It's expensive, too, as you'll probably invest in everything from fresh coats of paint to major appliance repairs before you put your home on the market. And what if you don't want to sell your home? Then you won't be able to nab that cash.</p> <p>You can take out home equity lines of credit or home equity loans to tap the equity in your home. But you'll have to pay back the money you borrow, with interest, each month. If your home should lose value after you take out our home equity loan, you could end up underwater, owing more on your combined mortgage loans than what your home is worth.</p> <h2>If it's an investment, it's an expensive one</h2> <p>It's expensive to own a home. And that, too, makes housing a less attractive investment.</p> <p>Consider homeowners insurance. If you are using a mortgage loan to finance your house, you're required to invest in this insurance. Even if you're not financing your home, you should take out a policy to protect yourself. Realtor.com estimates that the average homeowners insurance premium across the country is $952.</p> <p>Then there are property taxes. The U.S. Census Bureau said that in 2017 the average household was spending $2,149 in property taxes.</p> <p>Finally, there is maintenance. This will vary, of course, but Realtor.com says that you can expect to pay from 1 percent to 4 percent of your home's value in maintenance each year. If your home is worth $200,000, that comes to between $2,000 and $8,000 a year.</p> <p>If you do sell your home for a profit, you need to factor in these costs of ownership when patting yourself on the back for making such a wise investment.</p> <h2>Housing's not bad, though</h2> <p>This doesn't mean that buying a house is a bad financial move. You do have to live somewhere, and depending on where you live, it might be less expensive to own a home than it is to rent an apartment.</p> <p>Owning a home also gives you some financial flexibility. You can rent out a portion of your home, for instance, to earn additional cash. You'll also be able to claim tax write-offs for the interest you pay on your mortgage loan each year and the property taxes you pay.</p> <p>Housing does provide this other benefits, too: shelter for your family, a gathering place for relatives and friends, and a respite at the end of a tough day.</p> <p>It's important to be realistic about housing's investment potential. If you want to invest, buying stocks or investing in mutual funds might be a better choice. Even low-interest, but safe investments such as bonds or CDs make more sense as an investment.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fheres-why-your-house-is-not-an-investment&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FStop%2520Thinking%2520of%2520Your%2520House%2520as%2520an%2520Investment.jpg&amp;description=Stop%20Thinking%20of%20Your%20House%20as%20an%20Investment"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Stop%20Thinking%20of%20Your%20House%20as%20an%20Investment.jpg" alt="Stop Thinking of Your House as an Investment" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/heres-why-your-house-is-not-an-investment">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-questions-to-ask-before-selling-your-house">6 Questions to Ask Before Selling Your House</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/yes-you-need-home-title-insurance-heres-why">Yes, You Need Home Title Insurance — Here&#039;s Why</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/rent-your-home-or-buy-heres-how-to-decide">Rent Your Home or Buy? Here&#039;s How to Decide</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-only-5-rules-you-need-to-know-about-investing-in-real-estate">The Only 5 Rules You Need to Know About Investing in Real Estate</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-home-buying-habits-we-can-learn-from-millennials">4 Home-Buying Habits We Can Learn From Millennials</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Investment Real Estate and Housing homeownership housing market maintenance mortgages property taxes renting return on investment selling a home Thu, 06 Jul 2017 08:30:16 +0000 Dan Rafter 1976048 at http://www.wisebread.com 4 Home-Buying Habits We Can Learn From Millennials http://www.wisebread.com/4-home-buying-habits-we-can-learn-from-millennials <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-home-buying-habits-we-can-learn-from-millennials" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/new_home_owners_with_key.jpg" alt="New homeowners with key" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Millennials entered the housing market later than their baby boomer and Generation X predecessors. They chose to rent for longer, and are just now starting to flood the housing market.</p> <p>But just because millennials have been slow to embrace homeownership doesn't mean that they don't have anything to teach others about buying a home. In fact, despite their late jump into the housing market, millennials have demonstrated plenty of smart home-buying behaviors. Here are a few smart homeownership habits we can all learn from this younger generation.</p> <h2>Don't rush</h2> <p>Ellie Mae, a software company that works with mortgage data, says that millennials &mdash; young adults from the ages of 18 to 34 &mdash; are currently the largest group of homebuyers in the housing market. According to the company, in January of 2017, these young buyers took out about 45 percent of all the mortgage loans used to buy homes. But homebuying is a recent trend for this age group.</p> <p>Economists have long observed that millennials waited longer than older generations to jump into the housing market, just as they have also waited longer to get married and have families.</p> <p>This isn't necessarily a bad thing. Buying a home is expensive. You'll need money for a down payment and the closing costs on your mortgage loan. This will run you thousands of dollars.</p> <p>As millennials show, there's nothing wrong with waiting until you have a more established job and reliable income to buy a home. Having that economic stability will eliminate some of the stress of covering that mortgage payment each month.</p> <h2>Don't break your budget</h2> <p>You don't want to <a href="http://www.wisebread.com/how-to-make-ends-meet-when-youre-house-poor?ref=internal" target="_blank">overspend on a home</a>. And today, that's getting easier to do because housing prices continue to rise. The National Association of Realtors says that the median price for a home sold in March of 2017 hit $236,400. That's an increase of 6.8 percent from March of 2016, when the median price was $221,400. This March also marked the 61st consecutive month in which home prices rose on a year-over-year basis.</p> <p>One of the most often-cited reasons for millennials' slow entry into the housing market is the student loan debt they face. According to Student Loan Hero, the average college graduate of the class of 2016 has $37,172 in student loan debt, up 6 percent from the previous year. Taking on the added debt burden of a mortgage can be intimidating when you already owe tens of thousands of dollars in student loans.</p> <p>Millennials know about debt. It's why so many of them are cautious about overspending. And this wariness is a good habit to acquire. Just because a mortgage lender approves you for a mortgage loan of $250,000, doesn't mean you must buy a home costing that much. It's OK &mdash; and is, in fact, fiscally smart &mdash; to buy a home that costs less. This will leave you with money leftover and an easier time making those housing payments each month.</p> <h2>Be realistic about the American dream</h2> <p>Buying a home has long been a part of the American dream. But millennials understand that this American dream can easily turn into a nightmare.</p> <p>Many millennials saw their parents lose their jobs and struggle to make their mortgage payments during the Great Recession. Some saw their parents lose their homes to foreclosure. Others watched as their parents' homes steadily lost value, leaving them underwater &mdash; owing more on their mortgage loans than what their homes were worth.</p> <p>Millennials learned that buying a home wasn't the only way to be happy in America. They learned that it could, in fact, be one way to be unhappy in America.</p> <p>The good habit here is that you should never jump into owning a home just because everyone else seems to be doing it. Owning a home isn't the right choice for everyone, which brings us to one last habit.</p> <h2>Don't think that renting comes with a stigma</h2> <p>Millennials are less averse to renting apartments later in life than both baby boomers and Gen Xers. In fact, the apartment market around the country is in the middle of a boom, with more people of all ages choosing to rent instead of owning a home.</p> <p>Renting has become a preferred way of living for a growing number of people. Need proof? Landlords keep increasing monthly rents to historic levels, something they'd struggle to do if the renters weren't coming. Apartment company Abodo said that in March of this year, the median monthly rent of a one-bedroom apartment across the United States stood at $1,005.</p> <p>In major cities, where many prefer to rent, monthly rents are especially high. Abodo reported that in San Francisco the median monthly rent stood at $3,415 in March 2017, while it hit $2,705 in New York City and $2,549 in San Jose, California. Other markets with high monthly rents include Boston ($2,398); Washington, D.C. ($2,097); Los Angeles ($2,030); and Oakland ($2,009).</p> <p>If you prefer to rent &mdash; and you aren't interested in the yard work and upkeep that come with owning a home &mdash; don't feel pressured to make the move to owning. You'll have plenty of company when it comes to renting an apartment.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F4-home-buying-habits-we-can-learn-from-millennials&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F4%2520Home-Buying%2520Habits%2520We%2520Can%2520Learn%2520From%2520Millennials.jpg&amp;description=4%20Home-Buying%20Habits%20We%20Can%20Learn%20From%20Millennials"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/4%20Home-Buying%20Habits%20We%20Can%20Learn%20From%20Millennials.jpg" alt="4 Home-Buying Habits We Can Learn From Millennials" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/4-home-buying-habits-we-can-learn-from-millennials">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/rent-your-home-or-buy-heres-how-to-decide">Rent Your Home or Buy? Here&#039;s How to Decide</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-whats-included-in-a-homes-closing-costs">Here&#039;s What&#039;s Included in a Home&#039;s Closing Costs</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-money-moves-that-will-ruin-your-mortgage-application">5 Money Moves That Will Ruin Your Mortgage Application</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-build-equity-in-your-home">How to Build Equity in Your Home</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-mortgage-details-you-should-know-before-you-sign">5 Mortgage Details You Should Know Before You Sign</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing American Dream apartments home buying homeownership lessons loans millennials mortgages renting Wed, 28 Jun 2017 09:00:12 +0000 Dan Rafter 1970390 at http://www.wisebread.com 8 Biggest Regrets of New Homeowners http://www.wisebread.com/8-biggest-regrets-of-new-homeowners <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-biggest-regrets-of-new-homeowners" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/house_key_on_keychain.jpg" alt="House key on keychain" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Buying a home is a big decision. When you buy your first home, it can turn out to be one of the happiest moments of your life, and set you and your family up for years of comfort. But there are also countless decisions to make during the buying process, and it's easy to make one you'll regret later.</p> <p>It helps to know common traps others have learned from. Try to avoid these mistakes that many new homebuyers have made. (See also: <a href="http://www.wisebread.com/what-you-need-to-know-before-buying-your-first-home?ref=seealso" target="_blank">What You Need to Know Before Buying Your First Home</a>)</p> <h2>1. You bought more house than you can afford</h2> <p>It's easy to purchase a home that may be out of your price range. Banks are known to approve homebuyers for loans that are way beyond what should be sensibly budgeted. It's also tempting to buy a more costly home than you need, based on the assumption that you will earn more in the future.</p> <p>A good rule of thumb is to avoid paying more than 30 percent of your gross income on housing. Anything more than that, and you may find yourself financially handcuffed. When searching for homes, be sure to have a budget in mind, and do your best to stick to that budget even if it means walking away from homes you like. (See also: <a href="http://www.wisebread.com/how-to-make-ends-meet-when-youre-house-poor?ref=seealso" target="_blank">How to Make Ends Meet When You're House Poor</a>)</p> <h2>2. You did not put enough money down</h2> <p>Making a big down payment can make things much easier for a homeowner in the long run. If you are able to save up enough to put down at least 20 percent, there's a good chance you'll avoid paying private mortgage insurance (PMI), which can add thousands of dollars in overall costs. Plus, a bigger down payment will help you qualify for a more favorable loan, and will reduce the amount you need to borrow.</p> <p>Homeowners who can't make a sizable down payment often find themselves struggling financially because the mortgage costs are onerous. The more money you put down, the more money you'll save &mdash; and the better off you'll be.</p> <h2>3. You did not get the right kind of mortgage</h2> <p>There are many different mortgage products out there. <a href="http://www.wisebread.com/fixed-or-adjustable-choosing-the-right-mortgage-loan?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed:+wisebread+(Wise+Bread)" target="_blank">Loans with fixed interest rates or adjustable rates</a>, interest-only loans, <a href="http://www.wisebread.com/choosing-the-right-mortgage-loan-15-or-30-years" target="_blank">30-year loans, and 15-year loans</a>. It can be bewildering and hard to find the right mortgage for you. The key is to understand what kind of homebuyer you are.</p> <p>Generally speaking, if you want to build equity in your home and plan to stay a while, you will want a fixed-rate mortgage. A 30-year term is most common and often allows for manageable monthly payments, but shorter terms can make sense if you want to pay off your loan sooner and you can afford to pay more each month.</p> <p>Adjustable rate mortgages, which often start with low interest rates that can change after a certain time period, make sense for those who think they may only stay in the home for a few years.</p> <p>Interest-only loans, in which you begin paying interest before any principal, tend to be riskier and don't help you build equity. But they might be right for people who want very low payments to start and think they can refinance or handle higher payments later.</p> <p>Do you plan to stay in the house a long time or move within a few years? What is your budget, both in terms of down payment and monthly payments? These are hard decisions, but it is important to research your mortgage loan options thoroughly before locking one in.</p> <h2>4. You didn't reduce debt and improve your credit before buying</h2> <p>The interest rate on your mortgage is based on a variety of factors, most importantly your current debt level and credit score. If you already have a high debt load and your credit score is mediocre or poor, you may end up with a higher interest rate. This could add thousands of dollars to the overall cost of your home.</p> <p>You may be eager to buy that first house, but you should first take time to pay off any current debts and <a href="http://www.wisebread.com/how-to-rebuild-your-credit-in-8-simple-steps" target="_blank">improve your overall credit picture</a>.</p> <h2>5. You should have continued renting</h2> <p>There is a lot of pressure on people to buy instead of rent, because it can be a path to long-term financial security. But there are many cases where it's perfectly fine &mdash; and perhaps wiser &mdash; to continue renting.</p> <p>If your income is inconsistent or your job security is in question, renting is a better option. If you expect you may need to move within a short period of time, renting makes sense. If you don't have enough money for a sizable down payment yet, continuing to rent is fine. Renting offers flexibility and is often cheaper, so there should be no rush to buy if you're not comfortable doing so. (See also: <a href="http://www.wisebread.com/rent-your-home-or-buy-heres-how-to-decide?ref=seealso" target="_blank">Rent Your Home or Buy? Here's How to Decide</a>)</p> <h2>6. You bought a home that needed work</h2> <p>A so-called &quot;fixer upper&quot; can be a great bargain for those willing to invest the time, sweat, and money on making necessary repairs. But this type of home isn't for everyone.</p> <p>Purchasing a home that requires heavy renovation can be a source of stress, and if you're not handy enough to fix things yourself, it may be more expensive for you in the long run.</p> <h2>7. You waived the inspection</h2> <p>During the housing boom a decade ago, competition for homes was so fierce that buyers were willing to forgo a routine inspection in order to close a deal. In fact, some sellers saw a demand for an inspection as a deal-breaker. Today, this is a recipe for potential disaster.</p> <p>An inspection should be an essential part of the homebuying process, allowing you to learn about any problems before you make a financial commitment. No homeowner should find themselves stuck with a house full of problems simply because they waived their right to inspect the property beforehand. (See also: <a href="http://www.wisebread.com/thinking-of-skipping-the-home-inspection-heres-what-it-will-cost-you?ref=seealso" target="_blank">Thinking of Skipping the Home Inspection? Here's What It Will Cost You</a>)</p> <h2>8. You researched the house, but not the area</h2> <p>It's a beautiful house and you got it for a great price. But after moving in, you realize that your commute to work just doubled. Or maybe you learned that the school system is not well-regarded. Or that the neighborhood has a high crime rate. Or the home backs up to the wastewater treatment plant.</p> <p>Remember that when you buy a home, you're not just buying a property. You're selecting a place to live and possibly raise your family. There's more to home than just the structure and the yard. If you don't do the research on your new neighborhood, you could end up sorely disappointed. (See also: <a href="http://www.wisebread.com/how-to-evaluate-a-neighborhood-before-you-buy?ref=seealso" target="_blank">How to Evaluate a Neighborhood Before You Buy</a>)</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/8-biggest-regrets-of-new-homeowners">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-build-equity-in-your-home">How to Build Equity in Your Home</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-home-buying-habits-we-can-learn-from-millennials">4 Home-Buying Habits We Can Learn From Millennials</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/whats-faster-for-mortgage-payoff-100-month-extra-or-1-payment-year-extra">What&#039;s Faster for Mortgage Payoff: $100/Month Extra or 1 Payment/Year Extra?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-whats-included-in-a-homes-closing-costs">Here&#039;s What&#039;s Included in a Home&#039;s Closing Costs</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-make-ends-meet-when-youre-house-poor">How to Make Ends Meet When You&#039;re House Poor</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing house house poor inspections interest loans mortgages new homeowner payments regrets renting Tue, 06 Jun 2017 09:00:09 +0000 Tim Lemke 1959133 at http://www.wisebread.com How to Save Big on Everything for Your Wedding http://www.wisebread.com/how-to-save-big-on-everything-for-your-wedding <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-save-big-on-everything-for-your-wedding" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/newlyweds_with_guest_on_their_garden_party.jpg" alt="Newlyweds with guest on their garden party" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>For most people, their wedding is one of the most important days of their lives. In many cases, it's also one of the most expensive. With a little planning, though, you can still have everything you want for your special day, affordably. Here are over 25 ways to save big for your big day.</p> <h2>The general stuff</h2> <p>Cutting costs starts with the basics.</p> <h3>1. Get the right credit card</h3> <p>One of the best tools to use for paying for and saving on your wedding is credit cards. No, not to borrow more than you can afford and end up paying thousands in interest charges. But to use them to save money and get rewards. There are three main strategies for using credit cards to pay for your wedding: Getting <a href="http://www.wisebread.com/5-best-sign-up-bonuses-for-airline-miles-credit-cards?ref=internal" target="_blank">big bonuses</a> and earning <a href="http://www.wisebread.com/5-best-cash-back-credit-cards?ref=internal" target="_blank">rewards for cash</a> or travel, getting a zero interest loan in the form of <a href="http://www.wisebread.com/5-best-credit-cards-with-0-apr-for-purchases?ref=internal" target="_blank">0% APR on purchases</a> for a limited time, and paying off purchases with a <a href="http://www.wisebread.com/the-best-0-balance-transfer-credit-cards?ref=internal" target="_blank">0% interest balance transfer</a> card. (See also: <a href="http://www.wisebread.com/top-5-travel-reward-credit-cards?ref=seealso" target="_blank">Best Credit Cards for Travel Rewards</a>)</p> <p>In order for any of these strategies to work, you must commit to paying off your balance each month (for the rewards to actually be worthwhile), or make a plan to pay off the balance within the intro period to save on interest. Otherwise, you'll end up paying much more for your wedding than you anticipated due to the high interest charges.</p> <h3>2. Be flexible on timing</h3> <p>September, October, and June are the most popular months to get married, according to The Knot, so avoid those months for better prices. You can cut your costs further by staying away from Saturday night dates and evening weddings in general.</p> <h3>3. Pare the guest list</h3> <p>The easiest way to shave expenses across the board is to invite fewer people to your party. A smaller guest list means you'll be able to book a smaller venue, buy less food and alcohol, and hire less help. Start by eliminating anyone you haven't spoken to in more than six months, and be firm about not inviting &quot;plus-ones&quot; that you don't know.</p> <h3>4. Eliminate the bridal party</h3> <p>One of the latest wedding trends, according to Pinterest's 2017 Wedding Report, is doing without wedding attendants. Getting rid of (or shrinking) your bridal party means the focus is solely on you and your beloved. What's more, you don't have to pay for flowers, gifts, or other expenses for them.</p> <h3>5. Tap your network</h3> <p>Have a friend that does calligraphy or an uncle who's an amateur photographer? Ask them whether they'd offer their services for your wedding at cost or in lieu of a gift.</p> <h2>The venue</h2> <p>You don't have to break the bank to find a nice place to say &quot;I do.&quot;</p> <h3>6. Consider nontraditional locations</h3> <p>Choosing a venue other than a banquet hall or hotel can add personality to your party, and cut costs at the same time. Research low-key outdoor locations such as a state or national park or renting out your favorite restaurant for the night.</p> <h3>7. Combine the wedding and reception</h3> <p>Having both the ceremony and the party at the same place will cut out one of your rental fees as well as the cost of transportation from one place to the next. Plus, it's easier and less stressful for everyone.</p> <h3>8. Compare apples to apples</h3> <p>When shopping around for a venue, be sure to ask exactly what's included in the rental fee, and if there are any extra costs, such as extra fees for cake-cutting or corkage if you're bringing your own wine. Knowing what's covered will help you make an informed decision about which venue offers the best value.</p> <h3>9. Consider a destination</h3> <p>While destination weddings typically cost more for guests to attend, they can be fairly cost-effective for the couple. Many all-inclusive resorts offer relatively low-cost wedding packages in which most of the planning is already done for you. Given the cost and commitment of attending the wedding, fewer guests will attend, keeping your costs down even further.</p> <h2>The music</h2> <p>It's not a wedding without awkward dancing.</p> <h3>10. Get a smaller band</h3> <p>The cost of a live band varies depending on the type of music and where you live, but no matter what, you'll pay more for a bigger band. Cutting down the size of your band from 10 pieces to six or eight will significantly reduce the price, and your guests probably won't notice the difference.</p> <h3>11. Opt for a DJ</h3> <p>A good DJ will be just as great at getting people onto the dance floor as a band, and you'll only have to pay one person. They'll also likely be able to play every song on your list and take requests, no matter how obscure.</p> <h3>12. Go the playlist route</h3> <p>Creating your own playlist for the wedding lets you eliminate the cost of a DJ entirely, and gives you total control over the music that's played. Ask a guest to handle the emcee duties, such as introducing you and announcing the cake-cutting. Ask someone else to hit &quot;play&quot; and &quot;pause&quot; at the appropriate times, and let the playlist handle the tunes. Just makes sure to scope out the sound system ahead of time to make sure you're able to hook into the available speakers.</p> <h2>Food and drink</h2> <p>Your guests will expect something to eat &mdash; but they won't expect it to be Michelin star.</p> <h3>13. Skip the sit-down dinner</h3> <p>Serving food buffet-style reduces the cost of the meal, since you need to hire fewer servers. Plus, buffets give guests more menu options, as well as a chance to mingle at the food stations with people who aren't sitting at their table.</p> <h3>14. Count the kids</h3> <p>If you're having children at your wedding, ask the caterer whether they offer a kids' meal. Most will provide something like chicken or pizza at a per-plate cost that's significantly lower than what they're charging for adult food.</p> <h3>15. Truck it in</h3> <p>Hiring a few local food trucks can be a fun and easy way to feed guests at a more casual, outdoor wedding. You'll want to bring in a few trucks in order to offer variety and ensure that guests aren't spending too much time standing in line.</p> <h3>16. Serve a sheet cake</h3> <p>Rather than splurging on a fancy tiered cake, purchase a small, decorated round cake for you and your spouse to use for the cake-cutting ceremony. Keep a cheaper supermarket sheet cake in the kitchen to serve to the guests. The quality and taste will be the same, and most will never know the difference.</p> <h2>Photography</h2> <p>Memorialize the occasion with affordable photos &mdash; not big credit card balances.</p> <h3>17. Set time limits</h3> <p>Cut the costs of your videographer and photographer by limiting the time that they're actually on-site and shooting. Skip the pre-wedding formal photos, and let the photographer or videographer finish up after the cake cutting. You'll have candid photos that capture the essence of the ceremony and reception.</p> <h3>18. Forget the photo booth</h3> <p>Eight in 10 couples who got married last year installed a photo booth for guests to take keepsake photos. Go old school instead and put a few disposable cameras on your tables for guests to use for snapping pictures.</p> <h2>Decor</h2> <p>Bright, cheery, and cheap should be your strategy with wedding decor.</p> <h3>19. Go with large, seasonal flowers and lots of greens</h3> <p>Local, seasonal flowers will cost less since there will be no shipping charge for your florist. Using large flowers (like hydrangeas or peonies) accented with greens allows you to get a bigger look while purchasing fewer blooms.</p> <h3>20. Dry it out</h3> <p>Dried flowers cost considerably less (and last considerably longer) than their fresh cousins. They make great bouquets or centerpieces for a wedding with a vintage feel.</p> <h3>21. DIY</h3> <p>Avoid the florist altogether and make your own centerpieces (get inspiration from Pinterest and Instagram). The dollar store is a great, low-cost resource to stock up on vases, votive candles, and other accessories for your tables.</p> <h2>Clothing and accessories</h2> <p>Why spend a ton on something you'll only wear once?</p> <h3>22. Rent your dress (or accessories)</h3> <p>Grooms have been renting their tuxes for years. Now, thanks to websites such as <a href="https://www.renttherunway.com/" target="_blank">RentTheRunway</a>, brides can also avoid forking over a fortune for an outfit they're only going to wear one time. Renting your dress allows you pay a fraction of the garment's cost while wearing real designer clothes on your wedding day.</p> <h3>23. Look for a non-bridal dress</h3> <p>Hit up your favorite dress store to see whether there are any off-the-rack white dresses that could serve as a wedding dress without the monster price tag. Or forget about white altogether and simply look for a dress you love that you might be able to wear again.</p> <h3>24. Something old, something new-to-you</h3> <p>Most people only wear their wedding dress once, so it's possible to find secondhand gowns that are in great condition. In addition to Craigslist and eBay, check out <a href="https://www.preownedweddingdresses.com/" target="_blank">PreOwnedWeddingDresses.com</a>, where you can find designer dresses for up to 75 percent off. (It's also a good site to keep in mind after your wedding, since you may be able to sell your gown for some extra cash.)</p> <h2>Invitations</h2> <p>You'll need to send more than a bunch of text messages to invite your guests &mdash; but not much more.</p> <h3>25. Skip save-the-date cards</h3> <p>Your biggest VIP guests probably already have your wedding date committed to memory. Use a site like Evite to send online save-the-date notifications to everyone else, or simply send out an email blast. You'll avoid the expense of printing and shopping for an additional set of cards on top of your invitations.</p> <h3>26. Think minimal</h3> <p>The bells and whistles of formal wedding invitations (letterpress printing, envelope lining, response cards, tissue paper) add up quickly. Skip the extras and select a simple design that can fit on a single card. If there's additional information you want to convey, direct guests to your website.</p> <h3>27. Design them online</h3> <p>Use a site like TinyPrints to select from dozens of templates, rather than paying someone to design the invitation for you. Then, you can order hard copies of the invitations and mail them out, or cut your costs even further by sending them digitally to your guests.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/beth-braverman">Beth Braverman</a> of <a href="http://www.wisebread.com/how-to-save-big-on-everything-for-your-wedding">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-big-ticket-wedding-items-you-should-borrow-instead-of-buy">5 Big Ticket Wedding Items You Should Borrow Instead of Buy</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-family-plans-can-save-you-tons">How Family Plans Can Save you TONS</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/save-money-in-5-seconds-or-less-with-these-27-easy-tricks">Save Money in 5 Seconds or Less With These 29 Easy Tricks</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/five-more-tips-for-eating-in-restaurants-and-sticking-to-a-budget">Five More Tips For Eating In Restaurants And Sticking To A Budget</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-have-a-great-wedding-if-you-havent-saved-enough">How to Have a Great Wedding if You Haven&#039;t Saved Enough</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living caterers discounts DJ Food getting married music photography renting save the dates saving money venues weddings Tue, 06 Jun 2017 08:30:16 +0000 Beth Braverman 1959962 at http://www.wisebread.com 5 Easy Ways to Make Good Money From Airbnb http://www.wisebread.com/5-easy-ways-to-make-good-money-from-airbnb <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-easy-ways-to-make-good-money-from-airbnb" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/couple_backpack_vacation_516895030.jpg" alt="Finding easy ways to make good money from Airbnb" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Airbnb is the most widely known home rental website in the U.S. If you've got a spare room or a whole property to rent out, listing it on Airbnb can provide extra income while allowing you to meet interesting people from around the world.</p> <p>But you're not the only one with this idea, of course. You may be competing with hundreds of other people offering properties in your city on any given date. It goes without saying that you need to keep your home and bedding spotless, and provide comfortable furnishings and amenities such as a TV, strong Wi-Fi connection, and hair dryer. To make sure you stand out and get the best price possible, follow these five tips.</p> <h2>1. Take professional photos of your space</h2> <p>Listings that have more attractive photos will have more success on websites like Airbnb because the layout of the website is visual. The first thing most viewers will see is a featured photo of your listing. I know from my own experience as a traveler that if an Airbnb rental doesn't have good photos, I'll scroll through to the next listing.</p> <p>But unless you're a very skilled photographer, taking attractive pictures of interiors can be difficult. Spaces may be tight and lighting, which can make or break your listing, is tricky. A good professional photographer will have the right equipment and skills to visually open up your rooms, and highlight their beautiful and unique qualities.</p> <p>Airbnb offers <a href="https://www.airbnb.com/info/photography" target="_blank">free professional photographers</a> for hosts in many cities. In a pinch, you can rely on your own skills, but it helps to read up on <a href="https://photography.tutsplus.com/articles/8-top-tips-how-to-photograph-interior-architecture--photo-1702" target="_blank">how to photograph interiors</a> first.</p> <h2>2. Offer an added service</h2> <p>When you are initially getting started on Airbnb, you can make your listing stand out by including a free service that adds value for your guests. Some examples: a yoga class, breakfast (B&amp;B style), or transportation from the airport.</p> <p>Keep it to something that is within reason, of course, and only offer services that you can consistently provide for your guests. This will make all the difference between an average listing and one that truly stands out. (See also: <a href="http://www.wisebread.com/this-is-how-you-rent-your-place-on-airbnb-and-succeed?ref=seealso" target="_blank">How to Rent Your Place on Airbnb and Succeed</a>)</p> <h2>3. Secure good reviews from your first guests</h2> <p>Another critical factor that any potential guests will consider when they are looking into renting your property is the rating that previous guests have left you. In fact, this is one of the most important features of the Airbnb community. Having a high rating (four or five stars) will inspire confidence in future guests, since it is essentially proof of a good track record with your previous customers.</p> <p>Getting a great rating does not have to be complicated. Offer the kind of hospitality you would like to receive if you were traveling to a new town or city. Be helpful and welcoming to your guests. If possible, greet them when they first arrive. That way, even if you don't see them for the rest of their stay, you will have given them a good first impression.</p> <p>As their stay progresses, be sure to check in with your guests and make sure they are comfortable and have everything they need. Also, try to collect the keys when they leave, which can be another good opportunity to make a connection with guests and remind them that you appreciate reviews on Airbnb. (See also: <a href="http://www.wisebread.com/the-11-best-websites-for-renting-your-extra-space?ref=seealso" target="_blank">Best Websites for Renting Your Extra Space</a>)</p> <h2>4. Include personal touches in the room</h2> <p>Remember that guests are choosing Airbnb either for its affordability, amenities (like a kitchen), or its unique character. If you want to increase the price of your rental, do your best to capitalize on that third characteristic.</p> <p>Start by thinking of a signature special touch for the room or apartment. Will you provide flowers or a bottle of wine for your guests when they arrive? A welcome package with information about your hometown? An exceptional Airbnb experience often revolves around small details, such as useful pamphlets, a map, or personal recommendations that allow your guests to experience your town like a local. Minimally, you should always have Wi-Fi information available.</p> <h2>5. Regard it as a business</h2> <p>If you want to earn more from your Airbnb listing, it's important that you regard it as a serious endeavor. You can earn a lot from your listing, but you need to be committed to it. Consider how much time you can devote to running this small business and how you can provide exceptional service to your guests to set yourself up for a very successful listing. Like any small business, you have to consider the costs, not just in time but in real dollars, for example, by paying for professional cleaning after each guest or in stocking your pantry and linens.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F5-easy-ways-to-make-good-money-from-airbnb&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F5%2520Easy%2520Ways%2520to%2520Make%2520Good%2520Money%2520From%2520Airbnb.jpg&amp;description=5%20Easy%20Ways%20to%20Make%20Good%20Money%20From%20Airbnb"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/5%20Easy%20Ways%20to%20Make%20Good%20Money%20From%20Airbnb.jpg" alt="5 Easy Ways to Make Good Money From Airbnb" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amanda-gokee">Amanda Gokee</a> of <a href="http://www.wisebread.com/5-easy-ways-to-make-good-money-from-airbnb">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/got-extra-space-make-money-and-meet-travelers-with-short-term-rentals">Got Extra Space? Make Money and Meet Travelers With Short-Term Rentals</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-costly-pitfalls-of-hosting-on-airbnb">5 Costly Pitfalls of Hosting on Airbnb</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/13-things-i-learned-from-renting-out-my-home-on-airbnb">13 Things I Learned From Renting Out My Home on Airbnb</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-easy-ways-retirees-can-earn-extra-income">9 Easy Ways Retirees Can Earn Extra Income</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/does-it-make-sense-to-stay-in-a-hotel-anymore">Does It Make Sense to Stay in a Hotel Anymore?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Extra Income Travel AirBnb businesses increasing value renting reviews services vacation listings Mon, 24 Apr 2017 08:30:07 +0000 Amanda Gokee 1917322 at http://www.wisebread.com 9 Easy Ways Retirees Can Earn Extra Income http://www.wisebread.com/9-easy-ways-retirees-can-earn-extra-income <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/9-easy-ways-retirees-can-earn-extra-income" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-483959284.jpg" alt="Retired woman finding easy ways to earn extra income" title="" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>Whether you want to boost your retirement savings before you hit the magical age of 65, or you need some side income as a retiree, you are in luck. The Internet has made it easier than ever to earn money without committing to a 9-to-5.</p> <p>Here are nine websites that can help you boost retirement income.</p> <h2>1. Shutterstock</h2> <p>Enjoy taking photos? Your photographs could earn money if they are approved and purchased by others. The photos that sell the best are high-quality images that can be used as stock photos for websites and eBooks.<a href="http://www.shutterstock.com/contributorsupport/articles/kbat02/000006640" target="_blank"> Shutterstock</a> pays contributors $0.25 per photo download, which doesn't seem like a lot. However, if your collection of photographs gets downloaded 2,000 times over the year, that is an extra $500. You'll need a current form of government-issued ID to join Shutterstock, and you'll also need to submit up to 10 images for their initial review. Once their review team approves your first image, you can start selling.</p> <h2>2. Airbnb</h2> <p>When the <em>busyness </em>of raising a family starts slowing down, many couples discover a passion for travel. You can pursue travel while still paying the mortgage with<a href="https://www.airbnb.com/" target="_blank"> Airbnb</a>. You can even rent out an extra room or guesthouse with the site. Simply sign up, create your listing (make sure you include lots of photos), and set your rate. What you charge is up to you, but you'll want to factor in the location and the space you're renting.</p> <p>See also: <a href="http://www.wisebread.com/this-is-how-you-rent-your-place-on-airbnb-and-succeed?ref=seealso2" target="_blank">This Is How You Rent Your Place on Airbnb </a></p> <h2>3. Teachers Pay Teachers</h2> <p>Are you retired from education, or perhaps just love creating fun teaching materials?<a href="https://www.teacherspayteachers.com/" target="_blank"> Teachers Pay Teachers</a> is a website that allows users to upload their lesson plans and resources for others to purchase. The site boasts that they have helped teacher authors makes $330 million since the creation of the site.</p> <h2>4. TaskRabbit</h2> <p><a href="https://www.taskrabbit.com/" target="_blank">TaskRabbit</a> is not just for Millennials or college students; it is for anyone who wants to earn money doing odd jobs, from putting together Ikea furniture to writing a retirement speech. You never know what someone will post. Experts and nonexperienced individuals alike can earn extra cash through this site if they live in a popular area.</p> <h2>5. Care.com</h2> <p><a href="http://www.kqzyfj.com/click-2822544-12141287-1435333490000" target="_blank">Care.com</a> is a site that connects individuals who need services with local help. You can apply for local job listings in child care, adult and senior care, pet care, and home care. The best part is that you can find work that fits in with your schedule. Some parents just need a trusted adult to pick up or drop off their children at school, while others just want a weekend baby sitter. Don't automatically assume that your tight schedule won't be a good fit for this site. Another thing I love about Care.com is that the site includes background checks, so more people feel confident with whom they hire.</p> <h2>6. Tutor.com</h2> <p>If you are knowledgeable in a certain academic subject, then why not tutor in it?<a href="http://www.tutor.com/apply" target="_blank"> Tutor.com</a> hires experts in all fields and connects you to their large database of students in need. Potential tutors need to pass an exam and the application process to qualify. Tutors in finance and computer science are in especially high demand.</p> <p>See also: <a href="http://www.wisebread.com/13-ways-to-make-money-online-that-arent-scams?ref=seealso2">13 Ways to Make Money Online That Aren't Scams </a></p> <h2>7. Rover</h2> <p>More pet parents are shying away from kennels and going for personalized overnight pet care. Pet lovers want to know that their favorite pooch is being snuggled or walked when they are gone, not just kept in a cage.<a href="https://www.rover.com/" target="_blank"> Rover</a> is one site that allows you to upload your profile and choose what type of pet care you offer. You can choose to watch dogs at your own place or the owner's, or just tailor your profile to be a dog walker.</p> <h2>8. Skillshare</h2> <p>Most of us are an expert at something, whether that be hand lettering or building computers. Utilize your passion and know-how by turning it into a class on <a href="https://www.skillshare.com/" target="_blank">Skillshare</a>. With Skillshare, you earn money every time someone signs up for your course. The site says that their highest-earning teachers make $40,000 a year.</p> <h2>9. Fiverr</h2> <p>On <a href="https://www.fiverr.com/">Fiverr</a>, you can make a quick buck (well, at least five) for simple tasks, such as voice-overs, quick articles, or whatever you would like your gig to be. I profiled one of Fiverr's top-sellers who writes resumes. She has been using Fiverr for years and has funded two adoptions with her earnings. Of course, her resumes cost much more than $5.</p> <p><a href="http://www.wisebread.com/making-extra-cash">See also: </a><a href="http://www.wisebread.com/find-a-side-gig-at-these-4-best-micro-jobs-sites?ref=seealso2" target="_blank">Find a Side Gig at These 4 Best Micro-Job Sites</a></p> <h2>Before You Start Making Money Online</h2> <p>There are many websites available to individuals looking to boost their retirement income. However, before diving in head first, take these three tips to heart:</p> <h3>Don't Pay for Jobs</h3> <p>There are too many good and free resources available. If a site asks you to pay money for a &quot;secret guide&quot; or &quot;guaranteed moneymaking business,&quot; it might not be legitimate.</p> <h3>Your Time Is Valuable<strong> </strong></h3> <p>The reason why I didn't list survey websites or websites that pay you pennies to open emails is because I strongly believe your time is valuable. Even if you are single and retired, there is something better for you than making a few dollars per hour clicking through spam or websites. Set an hourly desired rate for yourself and don't be tempted by sites that pay less.</p> <h3>If It Sounds Too Good to Be True...<strong> </strong></h3> <p>You have probably said this line to your kids, and I am repeating it to you. If the offer sounds too good to be true, it probably is. There is no such thing as making thousands of dollars for minimal work, so don't believe the websites, email messages, or forum posters that say so.</p> <h2>And Don't Forget About Your Social Security</h2> <p>Your Social Security benefit may be reduced if you earn wage or self-employment income and begin receiving Social Security early, before your official retirement age. Your benefit will not be reduced if you continue to earn beyond your retirement age. To learn more about earnings caps and other details that may affect your decision to work in retirement, see the <a href="https://faq.ssa.gov/link/portal/34011/34019/article/3739/what-happens-if-i-work-and-get-social-security-retirement-benefits" target="_blank">SSA's FAQ on earning and retirement benefits</a>.</p> <p>See also: <a href="http://www.wisebread.com/30-great-side-jobs?ref=seealso2" target="_blank">Boost Your Income With Any of These 30 Side Jobs</a></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-eneriz">Ashley Eneriz</a> of <a href="http://www.wisebread.com/9-easy-ways-retirees-can-earn-extra-income">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-ways-to-make-an-extra-1000-this-summer">9 Ways to Make an Extra $1,000 This Summer</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-costly-pitfalls-of-hosting-on-airbnb">5 Costly Pitfalls of Hosting on Airbnb</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-easy-ways-to-make-good-money-from-airbnb">5 Easy Ways to Make Good Money From Airbnb</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-lucrative-side-hustles-for-city-dwellers">15 Lucrative Side Hustles for City Dwellers</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/these-4-sites-pay-writers-serious-cash">These 4 Sites Pay Writers Serious Cash</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Extra Income AirBnb baby-sitting care freelance gig economy part time jobs pet sitting renting selling photos side gigs Tutoring websites Mon, 06 Feb 2017 10:30:32 +0000 Ashley Eneriz 1884962 at http://www.wisebread.com Rent Your Home or Buy? Here's How to Decide http://www.wisebread.com/rent-your-home-or-buy-heres-how-to-decide <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/rent-your-home-or-buy-heres-how-to-decide" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/hands_small_house_71818037.jpg" alt="Deciding if you should rent or buy your home" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>There are plenty of advantages to renting an apartment, and just as many to buying a home, instead. But what about financially? Is renting or buying the smarter money move?</p> <p>Not surprisingly, the answer is complicated, and depends on where you live, what kind of home you want to buy or apartment you want to rent, and how long you plan on staying in one place. Here's a look at the numbers that might help you solve the rent-vs.-buy puzzle.</p> <h2>Prices Are Rising for Buyers and Renters</h2> <p>Renting an apartment is more expensive today than it was even a year ago. But the same is true of buying a home.</p> <p>Consider the cost of buying a home. The National Association of Realtors reported that in September of this year, the median price of existing homes stood at $234,200.</p> <p>You won't necessarily have to pay $234,200 or more, depending on where you buy. But the median sales price continues to increase, meaning that home prices overall are on the rise. The median price in September was up 5.6% from the same month one year earlier, when it was $221,700. And don't expect median prices to fall anytime soon. The association says that September's price increase represents the 55th consecutive month of year-over-year gains.</p> <p>And what about renting? Apartment rents continue to rise, too. ApartmentList reported that in November of this year, the median national rent for one-bedroom apartments was $1,110 a month. For two-bedroom apartments that figure was $1,270. The good news is that median rents actually fell in 55 out of the country's 100 biggest cities from October to November, according to ApartmentList.</p> <p>The bad news? Rents are still higher today than they were one, two, or three years ago. According to ApartmentList, the median national rent was 2% higher in November of this year compared with the same month one year earlier.</p> <p>So no matter if you rent or buy, know that prices are generally rising.</p> <h2>Which Is More Affordable?</h2> <p>That leads to the big question: Given that both buying a home and renting an apartment are getting more expensive, which option is most affordable?</p> <p>The answer to this question includes plenty of variables. For instance, owning a home provides a tax benefit: You can deduct the interest you pay on your mortgage loan each year up to $1 million, resulting in a lower tax bill. But even this isn't a crystal-clear financial plus for all owners. You can only claim your mortgage interest deduction if you itemize your taxes. And if that interest deduction isn't higher than the IRS' standard deduction &mdash; which stood at $12,600 for married couples filing jointly and $6,300 for singles in 2016 &mdash; there is no real reason for you to itemize your taxes and claim the deduction.</p> <p>Then consider the variables of going the apartment route: You might be able to find an apartment with low rent. But that apartment might not be located where you actually want to live, especially if you want to live in the center of a large city. Apartments in urban areas tend to come with higher rents today.</p> <p>And if you do find a cheaper apartment, it will almost certainly not be a newer one. RENTCafe found that in 2015, 75% of all large new apartment properties built across the country were high-end luxury properties, buildings that charge far higher monthly rents. Most of these new apartments are being built in the center of big cities, too, according to RENTCafe.</p> <p>So if you want to rent an apartment in San Francisco? ApartmentList says that a two-bedroom apartment here had a median price of $4,700 a month in November, while a one-bedroom had a median monthly rent of $3,440. In Boston, two-bedrooms rented for a median price of $2,350 a month, while in Seattle it cost a median of $1,720 for a one-bedroom unit and $2,300 for two bedrooms.</p> <p>Given this jumble of numbers, is it cheaper to rent or buy? According to real estate website Trulia, buying a home is cheaper on a national basis. Though, not surprisingly, there are some caveats.</p> <h2>Nationally, Buying Is Cheaper</h2> <p>Trulia reported in October that buying a home was 37.7% cheaper than renting on a national basis. But that 37.7% figure only holds true for those who live in their homes for at least seven years and can afford to come up with a down payment of 20% on their homes.</p> <p>Given that standard, Trulia reports that buying is cheaper than renting in each of the 100 largest metropolitan areas of the country. According to Trulia, for example, it is 50% cheaper to buy in Miami and just under 20% cheaper to buy in San Francisco and Honolulu.</p> <p>Part of the reason that buying is more affordable comes down to mortgage interest rates. Rates are still at historically low levels, with the Freddie Mac Primary Mortgage Market Survey reporting that as of Nov. 10, the average interest rate on a 30-year fixed-rate mortgage loan stood at 3.57%. This makes borrowing money for a mortgage loan more affordable.</p> <p>Want to see what Trulia thinks of the rent-vs.-buy decision in your community? Visit the site&rsquo;s <a href="https://www.trulia.com/rent_vs_buy/">rent-vs.-buy calculator</a>, punch in your metropolitan area and wait for the results.</p> <h2>What Should You Do?</h2> <p>These numbers, and Trulia&rsquo;s rent-vs.-buy calculator, should serve as a general guide. But they alone can't tell you whether you should rent or buy. That's because everyone's situation is unique.</p> <p>Say you only plan to live in an area for three or four years before moving. Renting is almost always the better financial move. Say you hate the thought of mowing a lawn for 15 years. Again, renting might be the better choice, even if it is more expensive than owning a home. If you dream of gardening in your own backyard? Then buying might make you happier.</p> <p>Your best bet is to carefully analyze what you want out of a home, whether it's the stability of owning and building equity or the freedom that comes with renting. Then make your decision based on what type of home will best meet your needs.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/rent-your-home-or-buy-heres-how-to-decide">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-home-buying-habits-we-can-learn-from-millennials">4 Home-Buying Habits We Can Learn From Millennials</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-3-best-cities-with-rent-control">The 3 Best Cities With Rent Control</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-why-your-house-is-not-an-investment">Stop Thinking of Your House as an Investment</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-simple-way-to-decide-how-much-rent-you-can-really-afford">The Simple Way to Decide How Much Rent You Can Really Afford</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-whats-included-in-a-homes-closing-costs">Here&#039;s What&#039;s Included in a Home&#039;s Closing Costs</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing apartments cost of living homeownership mortgages rent vs buy renting Tue, 22 Nov 2016 11:00:15 +0000 Dan Rafter 1835351 at http://www.wisebread.com Here's How Much Life in the Big City Will Cost You http://www.wisebread.com/heres-how-much-life-in-the-big-city-will-cost-you <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/heres-how-much-life-in-the-big-city-will-cost-you" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_walking_city_77672035.jpg" alt="Woman finding out how much life in the big city will cost her" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>So, you got a new higher-paying job in the big city. Now you have to decide whether it's worth making the big move. Fortunately, there's an easy cost analysis that can help you determine if the move is worthwhile.</p> <h2>Cost of Living Calculators</h2> <p>For a better estimate of how much you'll need to earn to maintain the same standard of living, use a cost of living calculator. Once you enter your current income, where you currently live, and where you would like to move, you can see a side-by-side comparison of what it will cost to live in both cities.</p> <p>Some <a href="http://money.cnn.com/calculator/pf/cost-of-living/">basic calculators</a> will show how far your salary will go in another city by comparing the price differences of major categories, like housing, utilities, and groceries. There are also more advanced cost of living calculators that will break down everything from what gas costs in the two areas, to how much you pay for coffee and ibuprofen.</p> <p>For example, say you're living somewhere like Bakersfield, California with an income of $50,000, and you're deciding whether to move to a big metro like San Francisco. So, how much will you need to earn in order to maintain your same standard of living? Using a cost of living calculator, you can see that you would need to be making $81,636. Otherwise, you'll have to get used to a lower standard of living and cut costs wherever possible.</p> <h2>Housing</h2> <p>Generally speaking, the closer you live to downtown, the more expensive the rent, food, and entertainment costs. When you live in a bigger city, it also generally means that you will have a smaller living space. Worst of all, rent just keeps getting more expensive over time. According to StreetEasy's annual New York City Rent Affordability Report, the median rent-to-income ratio in NYC rose from 59.7% in 2015 to <a href="http://cdn1.blog-media.zillowstatic.com/streeteasy/2/StreetEasy-2016-Rent-AffordabilityReport-7e91e8.pdf">65.2% in 2016</a>. This means that nearly two-thirds of New Yorkers' income is devoted to rent. (See also: <a href="http://www.wisebread.com/the-simple-way-to-decide-how-much-rent-you-can-really-afford?ref=seealso">The Simple Way to Decide How Much Rent You Can Really Afford</a>)</p> <h2>Higher Income</h2> <p>In most cases, a higher cost of living also means that the area has a higher than average median household income. While you can usually get a more robust <a href="http://www.wisebread.com/protect-future-earnings-by-negotiating-the-right-starting-salary">starting salary</a> in a large city, you might not want to count on hefty raises. Income growth is lagging behind things like rent increases and cost of living growth, so your expenses may increase in the years to come, but your income might not keep up.</p> <h2>Transportation</h2> <p>In most cases, the closer you can live to work, the better. This will allow you to bike to work, take part in a carpool, use Uber, or even take public transportation.</p> <p>If you will be taking advantage of public transportation, consider storing or selling your car, so you don't have to worry about parking. Driving can also be a lot more overwhelming for someone moving from a smaller town to a big metro (think Los Angeles gridlock). Look into public transportation options in your new city to determine if you can reasonably live there without a car, and how much you would save by making the change to public transportation. Keep in mind that places that are more walkable, or have better transportation options, are typically more expensive to rent.</p> <h2>Parking</h2> <p>In cities like Los Angeles, New York, San Francisco, and Seattle (to name a few), free parking is basically a pipe dream. With parking meters and paid parking lots as far as the eye can see, it's very unlikely that you'll find free parking. Even if you did find street parking, the posted rules can be very confusing and, in large cities, parking tickets are very common.</p> <h2>Convenience</h2> <p>Living in a large city means most things will be at your fingertips. For instance, there isn't much that you won't have access to in New York City. However, getting what you want and need is a different story. Living in a small town means quicker trips to the grocery store and general merchandise stores like Target.</p> <p>In a big city, on the other hand, you have to worry about fighting traffic and finding parking before you even get to the store. Then, there are hordes of people to deal with and long lines at the checkout counter, so small day trips can become much longer and more stressful. Try completing your errands at odd times, like early in the morning or during your lunch break, to beat the crowds.</p> <h2>Entertainment</h2> <p>Living in a big city means there are generally boundless things to occupy your time, such as endless places to eat, shows to watch, people to meet, and free activities to take part in. In a city like <a href="http://www.wisebread.com/how-to-visit-san-francisco-without-going-broke-0">San Francisco</a> or <a href="http://www.wisebread.com/how-to-visit-new-york-without-going-broke">New York</a>, you will be exposed to more culture more easily, and can find more fun, free events for the kids.</p> <p>To better deal with the culture shock, try seeking out social groups and other resources for newcomers to the area. Make a valiant effort after moving to make friends with locals and other transplants so you can quickly become acclimated with the city and what is available to you.</p> <h2>Is It Worth It?</h2> <p>Moving to a large city can be very expensive. The move itself can be a frustrating, expensive undertaking, and once you're there, things like rent, groceries, utilities, health care, and transportation can be much more expensive than what you're used to. Take this into account when you're deciding whether to make the move or not.</p> <p>The decision on whether it is worth it to make the big move is an entirely personal one. After living in New York City, San Francisco, and Los Angeles, I can attest to the fact that there is nothing comparable to living in a big metro. What you can (and will) experience in a shorter amount of time there is well worth the higher cost of living. However, if you are trying to save more money or contribute more towards your debt, savings, or retirement accounts, you'll need to use a cost of living calculator (at minimum) to determine whether it's worth it for you.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/andrea-cannon">Andrea Cannon</a> of <a href="http://www.wisebread.com/heres-how-much-life-in-the-big-city-will-cost-you">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dont-forget-to-budget-for-these-unexpected-moving-expenses">Don&#039;t Forget to Budget for These Unexpected Moving Expenses</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/moving-dont-skimp-on-these-critical-expenses">Moving? Don&#039;t Skimp on These Critical Expenses</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-save-100s-on-your-next-move">How to Save $100s on Your Next Move</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-american-cities-where-you-can-retire-on-just-social-security">5 American Cities Where You Can Retire On Just Social Security</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-simple-way-to-decide-how-much-rent-you-can-really-afford">The Simple Way to Decide How Much Rent You Can Really Afford</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Real Estate and Housing big cities cost of living expenses housing moving relocating renting transportation Tue, 01 Nov 2016 10:00:15 +0000 Andrea Cannon 1824619 at http://www.wisebread.com My 16 Favorite Ways to Get Rid of Clutter http://www.wisebread.com/my-16-favorite-ways-to-get-rid-of-clutter <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/my-16-favorite-ways-to-get-rid-of-clutter" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_clothes_clutter_39948832.jpg" alt="Woman finding ways to get rid of clutter" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Ugh. <a href="http://www.wisebread.com/8-ways-clutter-keeps-you-poor">I hate clutter</a>. It actually hurts my brain. However, even if I were Mari Kondo fancy, and could afford to throw away everything in my house that I don't love, my inner-tree-hugger would feel guilty about putting perfectly usable items into the landfill. So, what's an environmentally responsible person to do with their clutter?</p> <p>Here are my top 16 clutter-busters that keep my house from looking like a warehouse:</p> <h2>1. Stop Bringing New Clutter Into Your House</h2> <p>If you have a cluttered house, chances are you already <a href="http://www.wisebread.com/one-simple-thing-you-can-do-today-to-start-living-frugally">have everything you need</a> to survive. If you are like me and <a href="http://www.wisebread.com/from-dumpster-diving-to-garage-sales-turning-trash-into-cash">love to trash pick</a> like it's a competitive sport, this means sidelining your treasure-hunting hobby until you have a grip on what you own.</p> <p>But, don't despair my freegan brethren. You can still get the thrill of the hunt; you just have to do it inside your house.</p> <h2>2. Use It Up, Wear It Out, Make It Do, or Do Without</h2> <p>I like to turn this Depression Era proverb into a game. How long can I go without buying groceries? How long will it take for me to eat through my pantry? If you have a hard time staying on the no new clutter wagon, challenge a like-minded friend to a competition to keep yourself accountable. Can you go one year without bringing stuff into your home?</p> <p>By the way, stepping away from the consumer treadmill even for 90 days (or 30, or even 10!) is a great way to save money.</p> <h2>3. Sell Your Stuff Online</h2> <p>Duh. This seems obvious. Typically I make a few thousand dollars every year by selling my old things on eBay, Etsy, and Craigslist.</p> <p>There are different price thresholds for different selling platforms. I can generally get more money by selling vintage items and clothes on Etsy and eBay than I can by selling them on Craigslist. For things like home electronics, buyers in my area will pay more on Craigslist than they will at a garage sale for the exact same item. To maximize your cash do a little research on who is paying a premium for your things.</p> <p>Depending on what you own, you might be able to flip your old things for cash by using specialty sites that focus on one type of merchandise such as <a href="http://www.wisebread.com/how-to-sell-your-kids-stuff-at-a-consignment-sale">baby clothes</a>, <a href="https://www.discogs.com/sell/list">vinyl records</a>, and <a href="https://www.1stdibs.com/furniture/">vintage home furnishings</a>.</p> <h2>4. Consign Your Stuff at a Brick and Mortar Store</h2> <p>I personally prefer to sell difficult to ship items like furniture and glassware to a <a href="http://www.wisebread.com/beyond-goodwill-the-different-types-of-thrift-stores">local second hand store</a> for either store credit or cash. Although stores usually take a 30% to 60% cut of the sale price, sometimes it's better to cash out so you can get those things out of your house before you break them and they become unsellable.</p> <p>There are some second hand stores that will buy goods outright for cash, and some stores that will only give you store credit. If you consign your items at a store, make sure that you are clear about pricing. Some stores will discount your goods to nothing after a set period of time. And some stores will not return items that don't sell to you. If you have a bottom price threshold, this needs to be negotiated in advance and on paper.</p> <p>In addition to bulky vintage items, I also sell back my used books, records, and contemporary clothes to second hand stores for cash.</p> <h2>5. Throw a Garage Sale</h2> <p>I paid for two entire years of my life by trash picking furniture and then selling it back to my neighbors at monthly garage sales. Last year my husband and I paid for our Christmas vacation with money that we'd earned selling stuff at garage sales. And our garage sale inventory wasn't even that amazing. Like, I can't even remember half the things we got rid of! They were that inconsequential to my life.</p> <p>I approach every garage sale as an opportunity to get other people to pay to remove clutter from my house, so most things are priced at one dollar. By taking this grateful-to-my-customer stance, I am always happy with my garage sale earnings, regardless of how paltry.</p> <h2>6. Gift</h2> <p>Shopping for presents is time consuming and expensive. A few years ago I decided to start gifting clothes and things in my house to admiring friends and family members. As in, &quot;Oh, you like that? Here, just take it with you. Happy early birthday.&quot; This on the spot gifting is always a welcome surprise and I don't have to fuss with wrapping.</p> <h2>7. Recycle</h2> <p>I know many people who live in homes that resemble recycling centers because they care about the environment. While it is a good thing to keep resources like glass and paper out of the landfill, you are not actually doing the world any good by turning your house into a mini dump. Companies as diverse as <a href="https://www.terracycle.com/en-US/brigades">Terracycle</a> and <a href="https://www.madewell.com/madewell_feature/DENIMDONATION_sm.jsp">Madewell</a> have recycling programs for hard to recycle items like denim, instrument strings, and Solo Cups.</p> <h2>8. Upcycle</h2> <p>Why pay for new craft supplies when you have clutter? Instead of bringing new, virgin goods into your home, find <a href="http://www.wisebread.com/18-awesome-practically-free-upcycled-craft-projects?ref=seealso">new uses for your old things</a>. You don't even have to have any creative talent to upcycle. For example, upcycle your old cotton underwear into cleaning rags.</p> <p>My husband and I own two Moroccan poufs. Rather than pay for new stuffing, we filled our poufs with old linens and drop cloths that are too torn or stained to sell or donate.</p> <h2>9. Share</h2> <p>I share a china pattern with my brother-in-law. I only have space in my small kitchen for eight place settings. My brother-in-law has 12 place settings. Whenever we have larger dinner parties, we loan each other dishes. What can you share with your friends and neighbors? I share garden tools with my friend Laura. I share kitchen gadgets with my neighbor Alexandra. I share a set of luggage with my sister. I only have to store those things in my house half the time. More importantly, I don't have to buy every single thing.</p> <h2>10. Check It Out</h2> <p>If you don't have handy friends and neighbors, look for a tool library in your area. I don't own bike repair tools because I live within walking distance of a bike repair cooperative.</p> <p>I am a lifelong library patron. In addition to checking out books, music, and videos, I use my library as an air-conditioned oasis in the summer when my house becomes unbearably hot, and as my personal newsstand. Once a month a have a magazine date with myself and spend an afternoon flipping through glossy pages to my heart's content. I give myself a little reading vacation, and cut the clutter and the cost of owning a personal subscription all in one fell swoop.</p> <h2>11. Catch and Release</h2> <p>I am a minimalist traveler. The only time I buy books is when I'm going on a trip. I buy the cheapest copy of the books I want to read so I have no problem leaving them behind in cafes and airports when I am done with them. Not only do I get cheap, analog entertainment, this book packing method always ensures that I have a little room in my luggage for vacation purchases.</p> <h2>12. Rent</h2> <p>Due to near constant <a href="http://www.wisebread.com/my-2016-budget-challenge-everything-breaks">car trouble this year</a>, I have been experimenting, unintentionally, with living as a one-car household in Los Angeles. I suspect by the end of the year that the math will prove that it is cheaper for us to rent a second car when we need one rather than own three cars outright.</p> <p>I don't love renting because I know that ownership is generally a better deal. But, do I really need to buy a jackhammer to break up my cracked driveway? No, I do not.</p> <p>When deciding when to rent and when to own, be honest: How often will you use this item? Will your daughter wear her Quinceañera dress a second time? Consider the extra cost of renting to be money that you saved on storage fees.</p> <h2>13. Swap</h2> <p>Even our shyest friends love our book exchange party that we host every New Year's Day. The concept is simple: Everyone brings the books they enjoyed reading but are now taking up shelf space, and throws them on the communal pile. Our guests take as many books as they want home, for free. The books that are left behind are donated to the Los Angeles Public Book Drive.</p> <p>Swap parties are fun because it's weirdly satisfying to see people fall in love with your old things. But why stop at books? What about a winter coat swap at your kid's school? How about a kitchen tool or recipe swap party with your neighbors? I offset the cost of my groceries by attending a monthly neighborhood backyard produce swap.</p> <h2>14. Donate Like a True Do-Gooder (Without Getting Audited)</h2> <p>If you want to get stuff out of your house in a hurry, feel like you are helping the less fortunate, and get a tax write off, donate your extra stuff to charity.</p> <p>Charities like The Salvation Army and Goodwill do not set a valuation on your donation. That responsibility is left up to you. But donor beware! Huge tax deductions for donated goods are a red flag to auditors. Use a <a href="https://satruck.org/Home/DonationValueGuide">donation value guide</a> to assess the true market value of your used items. Also, it's a good practice to photograph your donated goods so you have evidence of your good works should you get audited.</p> <p>Ahem, let me get on my soapbox for one moment.</p> <p>Charities spend a huge amount of their budgets on trash collection because so many people use their local shop as a dumping ground for all their old crap. Would you buy a pair of pants with a brown stain across the front? No, you would not. Don't be that guy who trades trash for a tax write-off. That's cheating on taxes and on charity.</p> <p>When it comes to charity donations I am very careful to only donate items that are in selling condition. As in, an item is in such good condition that I would spend money to buy it.</p> <p>(Steps off soapbox.)</p> <p>That said, just like I am always on the hunt for new places to recycle weird stuff, I am always on the lookout for groups that repair expensive, broken goods for charity. For example, I donate my old glasses to the <a href="http://www.lionsclubs.org/EN/how-we-serve/health/sight/eyeglass-recycling.php">Lions Club</a>.</p> <p>The screen of my laptop computer died in January. Although I could sell it on Craigslist for parts, I'm donating it to CRASH Space, my local hackerspace, because I know the makers there will recycle the entire machine responsibly. As a side benefit, I can claim this donation as a tax write-off since CRASH Space is a nonprofit.</p> <h2>15. Curb It</h2> <p>My nightly walk takes me past a wide set of concrete steps that used to lead to an apartment building but now lead to a vacant lot. I few years ago I started leaving items that were in usable condition, but not nice enough to donate or sell for money, on the steps to nowhere. I leave pretty much everything &mdash; stinky shampoo, old clothes, recently expired canned goods, vintage electronics, magazines, pens that I don't like &mdash; on the steps, neatly merchandised for easy shopping. The things that aren't gone by the next night, I know they are truly garbage. I throw the leftovers away without guilt. Usually, the stuff is gone before morning.</p> <p>This personal donation spot has been a fun experiment. I have met some of my late night shoppers and I was happy to hear how they are enjoying my old things. Also, some of my neighbors have started copying me. About once a week I see that someone else has made a donation to the steps.</p> <h2>16. Go Digital</h2> <p>Yes, I am old. I came of age in a world without cloud storage and I have nostalgia for books made from dead trees. So is it any surprise that the bulk of my clutter is paper-based? Between the library and our digital subscriptions to everything from IMDB to Netflix, we're managing our shelf space, but our file cabinet is exploding.</p> <p>Although I have successfully resisted this chore for more than a decade, I am finally getting around to digitizing the hard copies of all my old contracts, patterns, notes, etc. for clutter free, online storage.</p> <p>Does anyone have any tips on digitizing documents and ditching paper clutter? (Oh, please). I could use all the help I can get!</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/max-wong">Max Wong</a> of <a href="http://www.wisebread.com/my-16-favorite-ways-to-get-rid-of-clutter">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/make-money-and-declutter-by-selling-these-5-unlikely-treasures">Make Money and Declutter by Selling These 5 Unlikely Treasures</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/25-things-to-throw-out-today">25 Things to Throw Out Today</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-decide-what-to-keep-when-downsizing">How to Decide What to Keep When Downsizing</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-easy-ways-to-earn-more-on-ebay">11 Easy Ways to Earn More on eBay</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-get-rid-of-all-your-crap">How to Get Rid of All Your Crap</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Organization charity cleaning clutter craigslist downsizing eBay garage sales mari kondo renting selling waste Tue, 01 Nov 2016 09:30:31 +0000 Max Wong 1824618 at http://www.wisebread.com 10 Best Tools for Finding an Apartment on the Cheap http://www.wisebread.com/10-best-tools-for-finding-an-apartment-on-the-cheap <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-best-tools-for-finding-an-apartment-on-the-cheap" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_laptop_boxes_11897386.jpg" alt="Woman using best tools for finding an apartment on the cheap" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Depending on where you live, finding a new apartment can be tough &hellip; or downright overwhelming. Seinfeld once joked that in New York, the obituaries section should be coupled with the property section in a newspaper, because that's pretty much the only way to find a decent place.</p> <p>But wherever you live, you are going to need help, especially if it's a completely unknown area. What is the neighborhood like? How are the schools? Is the crime rate high? Is the rent too high? The following tools will help you get your foot in the door.</p> <h2>1. Craigslist</h2> <p>Do not underestimate the power of Craigslist. Started in 1996 by Craig Newmark, it was originally servicing only the San Francisco Bay Area. Now, it's global, and the &quot;Housing&quot; section still remains free for people to post and respond to listings. There are many subsections, including real estate for sale, vacation rentals, and even office/commercial storage. However, you will want to look into the following categories:</p> <ul> <li>Apt/housing</li> <li>Housing swap</li> <li>Rooms/shared</li> <li>Sublets/Temporary</li> </ul> <p>Once you get into any of those sections, you can narrow down your search with a great list of tools. From basic parameters like price, bedrooms, bathrooms, and square footage, to more niche requirements like &quot;X miles from zip,&quot; wheelchair access, and animals, you can quickly find just the place you're looking for. It is by far the most convenient free tool out there.</p> <h2>2. Apartment Finder</h2> <p>Long before the Internet was the go-to place for, well, everything, &quot;<a href="http://www.apartmentfinder.com/">Apartment Finder</a>&quot; magazine was the essential tool for finding your next abode. Started in 1981, it has won numerous industry awards and is now available in several formats, including the traditional magazine, the website, and the app. It also part of a network that includes Apartments.com, ApartmentHomeLiving, Move, and Doorsteps.</p> <p>As it is a service focused on renting apartments, there are more slick tools here to help. You'll be able to explore the spaces using a 360-degree camera, and you'll get virtual walk-throughs, floor plans, a veritable smorgasbord of photos, and a lot of detailed information. The only downside is that you will not usually find properties from people just looking to rent out their homes. It costs money to advertise on this site, and that means it's populated by large apartment complexes. But if that's what you're looking for, and you need the extra security and benefits of a managed property with a pool and a gymnasium, this is just what you need.</p> <h2>3. Zillow</h2> <p>When <a href="http://www.zillow.com/homes/for_rent/">Zillow</a> first came onto the scene, it was primarily used as a tool to estimate your home's value (and real estate agents <em>hated </em>it because the information was always very hit or miss). Now, Zillow has become an excellent free resource for the apartment hunter. Not only does it have all the tools you'd expect to narrow down your search, but it offers advice on renting and house hunting, as well as important neighborhood information (essential if you know nothing about an area you're moving into), including school ratings. Again, it costs to list a rental property on this kind of site, so don't expect to find little hidden gems being offered by someone who has a second home.</p> <h2>4. Rentometer</h2> <p>Although it won't help you find the specific place you want to live in, it will help you research what you should (and should not) be paying for rent at any of the apartments you're checking out. If you find the home of your dreams, but aren't sure if the price is sky high, <a href="https://www.rentometer.com/">Rentometer</a> will give you a temperature check of the area. You'll see the average and median prices, and also which percentile the apartment you're looking at falls in. At the very least, you want &quot;reasonable&quot; rent. Low is great. If you're in the red zone, negotiate or move on.</p> <h2>5. The Library</h2> <p>So your local library is not an app or a website, obviously, but it is filled with resources that can help anyone find their perfect apartment. It's a shame that more people don't take full advantage of the library; after all, we all pay for libraries with our taxes. Libraries have computers to access the many online tools listed in this article. They also have copies of a plethora of local and national newspapers, which contain classified ads for apartments and homes. If you find yourself in need of a place that contains many tools under one roof, the library is hard to beat.</p> <h2>6. HotPads</h2> <p>If you're looking for a tool that combines the great functionality of sites like Apartment Finder and Zillow, but also has the variety of smaller rentals offered by Craigslist, the <a href="https://hotpads.com">HotPads</a> is definitely for you. It has listings for most major cities in the U.S., and gives you a great set of criteria to help you get a list of excellent matches. Features like the &quot;walk score&quot; and neighborhood information, coupled with &quot;hot listings&quot; that show you which apartments are getting the most attention make HotPads one of the best tools for anyone looking to rent in a well-populated location.</p> <h2>7. Rent.com</h2> <p>Just like HotPads, <a href="http://www.rent.com/">Rent.com</a> gives you great choice. You can find landlords who are renting out just one or two properties, or giant apartment complexes with hundreds of units in one place. You can sort by best match, price, rating, or alphabetically, and when you narrow it down to a few properties, you can check the availability and book a tour. Definitely sort by ratings, because some of apartments have quite a few skeletons in the closet.</p> <h2>8. PadMapper</h2> <p>If you want to imagine what an apartment hunting app crossed with a mapping tool would look like, check out <a href="https://www.padmapper.com">PadMapper</a>. From the get go, you are greeted with a map of the area you want to look at, which is immediately populated by all the available rentals. It's somewhat overwhelming at first, but by using the tools provided, you can quickly take pins off the map until you get it down to some manageable choices. Save your favorites, check out floor plans and photos, and indicate your interest in the property. One downside &mdash; it appears to only list apartments in large complexes.</p> <h2>9. Lovely</h2> <p>Great name. Great site. <a href="https://livelovely.com">Lovely</a> is known as being exceptionally easy to use, simple, and direct. And it really is a soup-to-nuts kind of setup. With Lovely, you cannot only find your ideal apartment from a vast array on the market, but also submit an application through the site. Plus, you can even pay your rent through the site itself! Of course, anything that sounds too good to be true often has a downside. With Lovely, it's scope. Right now, you're limited to the Midwest and the coasts, but as word spreads, so will the range of the site.</p> <h2>10. Zumper</h2> <p>What does the name mean? Who knows. But the site (and app) look great, are easy to use, and have a wealth of information. The first question you'll be asked is where you want to move. Type in the area, and you'll get an overview of the town or city, including any annual festivities or notable attractions. You can search on a map, or by the usual parameters (bedrooms, price, amenities, and so on). One excellent feature of <a href="https://www.zumper.com">Zumper</a> is the way it seamlessly integrates with Experian, allowing you to safely and securely submit your credit report along with your application. Highly recommended.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/10-best-tools-for-finding-an-apartment-on-the-cheap">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-apartment-hunt-on-craigslist-without-getting-scammed">6 Ways to Apartment Hunt on Craigslist Without Getting Scammed</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dont-forget-to-budget-for-these-unexpected-moving-expenses">Don&#039;t Forget to Budget for These Unexpected Moving Expenses</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-common-apartment-hunting-mistakes-to-avoid">9 Common Apartment Hunting Mistakes to Avoid</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-simple-way-to-decide-how-much-rent-you-can-really-afford">The Simple Way to Decide How Much Rent You Can Really Afford</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/self-employed-heres-how-to-get-your-apartment-application-approved">Self-Employed? Here&#039;s How to Get Your Apartment Application Approved</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Real Estate and Housing Technology apartment finder apartments apps craigslist moving renting websites Zillow Fri, 21 Oct 2016 09:30:30 +0000 Paul Michael 1816944 at http://www.wisebread.com The Real Cost of Moving to Canada (If That's Your Post-Election Plan) http://www.wisebread.com/the-real-cost-of-moving-to-canada-if-thats-your-post-election-plan <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-real-cost-of-moving-to-canada-if-thats-your-post-election-plan" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_suitcase_bench_3139059.jpg" alt="Woman moving to Canada after 2016 election" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>The odds are high that you don't like either Hillary Clinton or Donald Trump. According to an ABC News/Washington Post poll released in late August, 56% of U.S. adults viewed Hillary Clinton unfavorably. The same poll found that 63% said the same about Donald Trump.</p> <p>No matter who wins the presidential election this November, a lot of people are going to be upset. You might even have heard people claiming that they'd flee to Canada if Trump &mdash; or Clinton &mdash; wins. Maybe you've even made this boast yourself.</p> <p>But you might be surprised to learn that life can get costly over the border. Here is a quick look at what you'll pay when you flee to our neighbors to the north after Nov. 8.</p> <h2>Conversion Rate</h2> <p>First, a bit of good news. One U.S. dollar as of Oct. 6 was equal to $1.32 in Canada. So if you head north with $30,000, you'll have a bit more than $39,640 once you cross the U.S./Canadian border.</p> <h2>Taxes</h2> <p>Hate paying taxes in the United States? Well, you won't like it in Canada, either. The Fraser Institute think tank reported that the average Canadian family spent $34,154 in taxes in 2015. By comparison, NerdWallet in 2015 reported that the average American family paid about $14,000 in taxes. That figure, like the Canadian one, includes real estate, income, and sales taxes.</p> <p>That difference looks less imposing when you factor in the U.S.-Canada currency conversion rate. In Canadian dollars, the average U.S. family in 2015 paid nearly $26,000 in taxes. That is still quite a bit lower than in Canada.</p> <p>According to the Fraser Institute, the average Canadian bill for income taxes collected by governments in 2015 was $10,616, while payroll and health taxes came out to an average of $17,160.</p> <h2>Housing</h2> <p>Homes are expensive in Canada. The Real Estate Board of Greater Vancouver said that the average price of a single-family detached home in Vancouver rose to $1.58 million in September. That comes out to about $1.19 million in U.S. currency.</p> <p>And Vancouver isn't the only expensive place to buy a home in Canada. The Toronto Real Estate Board said that the average selling price for all home types in Toronto came out to $710,410 in August (about $537,000 in U.S. dollars).</p> <p>The average selling price for all Canadian homes sold in August of 2016 was $456,722, according to the Canadian Real Estate Association. That comes out to about $345,000 in U.S. currency. In comparison, the National Association of Realtors said that the average sales price for all homes sold in the United States in August was $240,200.</p> <h2>Renting an Apartment</h2> <p>So maybe you'll rent an apartment instead. That's pretty costly, too.</p> <p>According to RentGorilla, the average rent for a one-bedroom apartment in Vancouver in September of 2016 came in at $2,445 a month, equal to about $1,850 in the United States. In Toronto, the average two-bedroom rent was $1,502 the same month, equal to $1,136 in the United States.</p> <p>In Ottawa, the average two-bedroom rent was $1,235, while in Montreal it stood at $852. Those last two, by the way, are quite affordable, coming out to $934 and about $644 respectively in the United States.</p> <h2>Goods and Services</h2> <p>What about basic necessities, everything from a gallon of gas to a gallon of milk? You'll find that with the conversion factor, prices in Canada are similar to what you'd pay for the same items in the United States.</p> <p>Consider a gallon of gasoline. According to the Expatistan Cost of Living Index, a liter of gas &mdash; which is equal to one quarter of a gallon &mdash; came out to $1.20 in Vancouver. That means a gallon of gas would cost an average of $4.80 in the city. That comes out to $3.63 in U.S. currency, a bit higher than what you'd pay at the pump in most U.S. cities today.</p> <p>Two liters of Coca-Cola, though, come out to an average of $2.48 in Toronto, according to Expatistan. That comes out to $1.88 in U.S. money. A pair of jeans here costs an average of $68, or $51.46 in U.S. currency.</p> <p>In Montreal, a 40-inch flat screen TV costs an average of $509, according to Expatistan. That comes out to about $385 in U.S. money, while a pair of athletic shoes sell for an average of $110 in Montreal, equal to about $83 in the United States.</p> <h2>Cost-of-Living Comparisons</h2> <p>Expatistan compiled its own cost-of-living comparisons between Canadian cities and several in the United States. As you'll see, if you live in higher-priced areas of the United States, you might actually find it cheaper to live in Canada.</p> <p>For instance, the cost of living in Toronto is 9% cheaper than it is in Chicago, according to Expatistan. And it's 32% cheaper to live there than it is in New York City. On the other hand, Toronto's cost of living is 24% more expensive than it is in Omaha and 30% more than in Iowa City.</p> <p>Expatistan estimates that it is 35% cheaper to live in Vancouver than it is San Francisco and 15% cheaper than Seattle. However, it is 15% more expensive to live in Vancouver than it is Wichita and 7% more expensive than living in Columbus. So much like the election, it's really up to you.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/the-real-cost-of-moving-to-canada-if-thats-your-post-election-plan">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-ways-expats-can-maintain-their-credit-scores">9 Ways Expats Can Maintain Their Credit Scores</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/rent-your-home-or-buy-heres-how-to-decide">Rent Your Home or Buy? Here&#039;s How to Decide</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-3-best-cities-with-rent-control">The 3 Best Cities With Rent Control</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-i-saved-enough-for-a-down-payment-while-working-in-china">How I Saved Enough for a Down Payment While Working in China</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-much-life-in-the-big-city-will-cost-you">Here&#039;s How Much Life in the Big City Will Cost You</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Real Estate and Housing Canada Clinton conversion rates cost of living election 2016 expats politics renting running away taxes trump Fri, 14 Oct 2016 09:01:03 +0000 Dan Rafter 1812615 at http://www.wisebread.com