2021 Study: Renting Versus Buying, and How Both Are Impacting You

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Key Findings

  • The average rent across the United States is $1,050 a month
  • The average mortgage payment in the U.S. is $992/month 
  • At $2,600/month on average, Sunnyvale, CA has the highest rent in the country
  • Gadsen, AL has the lowest rent in the U.S. at $430/month on average
  • Mortgage repayments are highest in and around Washington, D.C., at more than $2,000/month on average
  • Property taxes, utilities, and insurance add an average of $563 to the cost of owning a home 
  • Homeowners tend to make 90% more than renters ($98,700 versus $51,700, on average)
  • Renters spend an average of 32% of their disposable income on housing, while homeowners spend an average of 20%
  • In 333 out of 335 cities studied, homeowners spend less of their income on accommodation than renters

 

It’s a question at the heart of many debates and countless articles: Is it better to buy (if you can afford it) or to rent (if you can’t)? Which is more financially beneficial? Which is actually more affordable, and why?

One way to think about this debate is to take the average home price in each state, then estimate your repayment based on some assumptions (e.g., 20% down payment, 3% interest over 30 years, etc.), then finally, compare that number to average rent prices.

But that comparison alone doesn’t tell us the true value of renting.

What does? We looked at 335 of the biggest cities and metropolitan areas in the United States and broke down how rent levels compare to mortgage rates, how they stack up against typical incomes in each of these areas, and more.

$400 in Alabama, $2,500 in California: How American Cities Compare on Rent

The average cost of rent across the country is $1,050 a month. Cities where rent is nearest the nationwide average are Modesto, CA ($1,047), Iowa City, IA ($1,057), and Houston, TX ($1,058).

(Note: Most of the housing data in this article come from the U.S. Census American Community Survey.) 

Among the 335 major metropolitan areas we profiled, where is rent cheapest? That would be Gadsden, AL, where typical rent was around $400 per month. Among areas with the lowest rent in the country are towns in Missouri and North Carolina

And then you have the other extreme. Places bemoaned for the high cost of living are mostly situated in California, with Sunnyvale, CA grabbing the top spot with an average of $2,600/month. San Jose sits closely behind, featuring rents around the $2,300/month mark.

City Avg. Rent City Avg. Rent
Gadsden, AL $400 Sunnyvale, CA $2,600
Johnstown, PA $430 San Jose, CA $2,400
Decatur, IL $495 Cambridge, MA $2,300
Rocky Mount, NC $500 San Francisco, CA $2,000
Joplin, MO $500 Hayward, CA $2,000
Hickory, NC $500 Napa, CA $1,900
Youngstown, OH $500 Huntington Beach, CA $1,900
Monroe, LA $500 Ventura, CA $1,800
Lima, OH $500 Pasadena, CA $1,800
Decatur, AL $500 Rancho Cucamonga, CA $1,800

Only one of the top 10 places with the highest rent in the country is not in California. Surprisingly enough, it’s not New York City, but rather a little college town in Massachusetts we call Cambridge. Rent in the city that’s home to Harvard and MIT is the third highest in the country, averaging $2,200 per month.

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$992 a Month: The Typical Mortgage Repayment in the United States

How much is a typical monthly mortgage repayment? Excluding utilities like electricity, water, heating, the national average of a U.S mortgage is around $992/month. 

But it’s not that simple of a figure. Needless to say, buying a home requires putting a substantial amount of money towards the down payment, and fulfilling a set of financial requirements more stringent than those usually applied to prospective renters.

 

“Only one of the top 10 places with the highest rent in the country is not in California.”

 

Whether due to these factors, declining mortgage interest rates, or even the impact of COVID on the real estate market, mortgage repayments tend to come in lower than rents.

Being somewhat proportional to the home values, mortgage repayments are usually highest in cities, where homes cost more. However, since we decided to look at actual mortgage payments rather than estimating these figures from home prices alone, our results look somewhat different than you might expect.

The two cities with the highest mortgage repayments are in or near the capital of the U.S.: Alexandria, VA ($2,367) and Washington, D.C. ($2,077).

The rest of the top 10 is mostly made up of cities in the San Francisco Bay Area, with exceptions being Seattle, WA, Stamford, CT, and another satellite location Washington, D.C., Arlington, VA, where a typical mortgage repayment is $1,863.

City Avg. Mortgage Repayment City Avg. Mortgage Repayment
Flint, MI $223 Alexandria, VA $2,367
Detroit, MI $283 Washington, D.C. $2,077
Johnstown, PA $369 San Jose, CA $2,064
Charleston, WV $396 Seattle, WA $2,035
Brownsville, TX $398 Sunnyvale, CA $2,024
Homosassa Springs, FL $413 San Francisco, CA $1,985
Gadsden, AL $420 Stamford, CT $1,978
Edinburg, TX $431 Hayward, CA $1,971
Youngstown, OH $436 Arlington, VA $1,863
Bangor, ME $453 Oakland, CA $1,844

Cities where home prices and mortgage payments are lowest are mostly situated in the Midwest or the South of the country, including cities like Flint and Detroit, both in Michigan, and Brownsville and Edinburg, both in Texas. 

Rent or Buy: How Rent and Mortgage Payments in Each City Compare

Now that we’ve established how much renters and homeowners pay in different parts of the country, let’s look at how rent and mortgage payments compare in each city. Where do renters outspend homeowners and which cities are typical mortgage payments higher than rents?

Based on our analysis, typical rent is higher than a typical mortgage payment in more than half of the cities we looked at (56%, or 187 out of 335 cities analyzed), with the average rent being about 6% higher than the average mortgage payment.  

Compared to homeowners, renters pay the most in cities in Michigan and Florida. In Flint and Detroit, renters pay more than twice as much in rent as typical homeowners pay in their mortgage payments.

Rent in cities like Homosassa Springs, FL and Sarasota, FL tends to be about 1.6 times higher than a typical mortgage payment in the same city.

City Avg. Rent Avg. Mortgage Payment % difference
Flint, MI $535 $223 +140%
Detroit, MI $650 $283 +130%
Flagstaff, AZ $1,100 $620 +77%
Homosassa Springs, FL $700 $413 +69%
Allentown, PA $930 $567 +64%
Sterling Heights, MI $1,100 $677 +163%
Sarasota, FL $1,200 $744 +61%
Bangor, ME $730 $453 +61%
Punta Gorda, FL $900 $575 +57%
Cape Coral, FL $1,100 $720 +53%

Conversely, here are the cities, where payments on mortgages are higher than rents. Top among them is Stamford, CT, where homeowners pay almost a third (30%) more than renters!

In cities like Chicago, IL and Little Rock, AR rent is around 20% lower than a typical monthly payment on a mortgage. Two of the cities where homeowners pay more than renters are in the political capital of the U.S.: Washington, D.C. and Alexandria, VA.

City Avg. Rent Avg. Mortgage Payment % difference
Stamford, CT $1,400 $1,978 -29%
Alexandria, VA $1,800 $2,367 -24%
Sioux Falls, SD $760 $988 -23%
Auburn, AL $670 $851 -21%
Chicago, IL $1,000 $1,263 -21%
Little Rock, AR $700 $870 -20%
Fayetteville, AR $700 $867 -19%
Newark, NJ $1,000 $1,231 -19%
Yuba City, CA $880 $1,080 -19%
Washington, DC $1,700 $2,077 -18%

 


Wondering what the average rent is like where you live? Want to find a typical mortgage repayment in a city you’re interested in? 

See the full results of our study, check the interactive table below, where you can see how much people in the 335 cities we profiled pay in rent, mortgage payment, and how the two compare.


More Than Just a Mortgage: The True Cost of Home Ownership

So, which is ultimately cheaper: renting or owning a home?

If you were to take mortgage repayments as we listed above and simply compared that to rental prices, you’d notice that a lot of the time, they’re not super different. On average, across the 335 cities we profiled, rents are only 6% higher than mortgage repayments. And in almost half the cities (44%), rents are lower than typical mortgage repayments.

 

“Homeowners make about twice as much as renters, roughly $98,700 a year before taxes, as compared to an average income of $51,700 a year before taxes for renters.”

 

However, as most homeowners might tell you, your mortgage might be the biggest cost… but it is only one part of all the expenses that go towards owning and maintaining a home. And they would be 100% right.

According to the figures from the U.S. government census’ American Community Survey, insurance, real estate tax, and utilities contribute an average of $563 to living costs every month. With all this considered, a truer average cost of owning a home in the U.S. is around $1,556 a month.

You can argue that renters pay utilities out of pocket too. But even if we add those up, the average amount renters pay every month rises by $185 to $1,143 a month, which is still some 26% lower than homeowners fork out each month.

A Tale of Two Incomes: Honestly Measuring Housing Affordability in the U.S.

renting vs buyingLooking at the figures so far, owning a home does appear to be more expensive than renting, and not just in up-front investment, but on an ongoing basis, too. 

With the average utility bill, taxes, and other typical costs included, the average cost of homeowning in the U.S. is about $1,556 a month, while renting is $1,143 a month.

True as that may be in nominal terms, there’s one critical aspect to consider in deciding which is more affordable: household income

Even without looking at the data, you can easily imagine that the income of renter households is likely lower than those of homeowners. Renters tend to be younger, earlier in their careers, more likely to be single, etc. 

But the real kicker is just how much lower the income of those who rent tends to be. Homeowners make about twice as much as renters, roughly $98,700 a year before taxes, as compared to an average income of $51,700 a year before taxes for renters.

 

“…a typical homeowner spends only about 20% of their income on housing costs. For renters, that estimate is 32%!”

 

When you consider this fact, the $400 “premium” homeowners pay in housing costs doesn’t seem that large. In fact, when you account for taxes and average the income out by month, a typical homeowner spends only about 20% of their income on housing costs. For renters, that estimate is 32%!

That means renters spend over almost one-third of their estimated take-home pay to cover their accommodation costs, despite the oft-repeated personal finance mantra of spending “no more than 30%” on your total living costs.

It’s worth noting that among the 335 cities we profiled, only in two of them is renting more affordable than owning a home: Jersey City, NJ and San Francisco, CA. And in both cases, the difference between what renters spend is merely about 1% under what homeowners spend.

Most and Least Affordable Cities To Rent, Based on Average Income

Now, instead of looking at rent levels and mortgage repayments in isolation, let’s consider affordability as a relative measure. If we express housing costs of renters and homeowners as a percentage of their incomes, which cities would be most and least affordable?

The cities with the most affordable rent with regards to people’s income are in the Midwestern states of Missouri, Wisconsin, and Ohio, with the most affordable being Jefferson City, MO. In most of the top 10, the rent and housing costs are under the recommended 30% of disposable household income.

City Rent as % of income City Rent as % of income
Jefferson City, MO 26.7% Waterbury, CT 62.3%
Sheboygan, WI 27.5% Antioch, CA 59.8%
Eau Claire, WI 27.5% Moreno Valley, CA 57.8%
Wenatchee, WA 28.6% Iowa City, IA 56.5%
Houma, LA 29.0% Newark, NJ 55.6%
St. Joseph, MO 29.4% New Haven, CT 54.6%
Mansfield, OH 29.4% Flint, MI 54.2%
Sioux Falls, SD 29.5% Allentown, PA 53.6%
Lima, OH 29.9% Jackson, MI 53.1%
Wausau, WI 30.4% Bridgeport, CT 51.5%

And the least affordable cities for renters aren’t what you may think. Sure, some of them are in California and more specifically in the Bay Area. For example, costs for renters in Antioch, CA average almost 60% of their estimated disposable income. 

However, among cities with unaffordable rent levels are cities not exactly known for their affluence, like Newark, NJ and Flint, MI, where housing costs for renters are over 55% of their household income.

Most and Least Affordable Cities To Buy, Based on Average Income

Turning back to homeownership, it seems to be most affordable in cities like Huntsville, AL, Decatur, IL, and Houma, LA, where housing costs account for less than 20% of the household income.

Among the least affordable cities for homeownership are Bridgeport, CT, Paterson, NJ, Miami, FL, and Los Angeles, CA. Homeowners in these four cities spend more than 36% of their disposable income on their homes.

City Ownership as % of income City Ownership as % of income
Huntsville, AL 19.6% Bridgeport, CT 36.9%
Decatur, IL 19.7% Paterson, NJ 36.3%
Houma, LA 19.7% Miami, FL 36.2%
Decatur, AL 19.8% Los Angeles, CA 36.1%
Parkersburg, WV 19.8% Salinas, CA 35.3%
Odessa, TX 19.9% Newark, NJ 35.0%
Jefferson City, MO 20.1% Glendale, CA 34.7%
Michigan City, IN 20.3% Providence, RI 33.7%
Green Bay, WI 20.3% Pomona, CA 32.9%
Grand Rapids, MI 20.3% San Diego, CA 32.8%

Curiously enough, Newark, NJ is among the least affordable cities for homeowners as well as for renters. The percentage of their income homeowners in this city spend on their home is 6th highest in the country—35%. As the city with a reasonable commute to New York City is undergoing gentrification, the incomes of local residents might be struggling to keep up.


Housing affordability is a tricky concept. While mortgage repayments alone are lower than rents, it’s worth considering all the extra costs associated with homeownership that don’t factor into rentals. That said, if your income allows you to buy a home, chances are you’ll be spending less of it on your housing.

We’re not in the position to give financial advice, but if you’re considering moving to a place looking for greater affordability, you should consider spending less on your move before you even settle in. 

Sources and Methodology
Unless otherwise stated, all the data used in this study came from the American Community Survey, a government survey that reaches tens of thousands of households in America every year. The latest available data covers the year 2019, and the results were released in January 2021.
Household income was taken separately for owner-occupied and renter-occupied households. Housing costs on top of mortgage/rent include utilities such as heating, electricity, and water. For homeowners, they also include insurance, homeowner association fees, and real estate taxes.
To estimate monthly disposable household income, 70% of the nominal household income was taken using an estimate that an average American pays ≈30% of their income in taxes, then divided by 12.
Illustrations by Meredith Miotke

2021 Study: Do People Actually Regret Moving?

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Key Findings

  • Despite some regrets, 82% of respondents admit that moving has changed their life for the better
  • 30% of Americans that we surveyed regret at least something about their move
  • People who moved due to COVID are most likely to regret their move (31%)
  • Among those who regret their move, “moving away from their friends” (49%) and “leaving the area they used to live in” (40%) are the top regrets
  • A quarter (26%) of people regretting their move felt that way immediately after moving
  • Regretting their moves, 15% of respondents are considering moving back to where they used to live
  • Location (51%), size (41%), and layout (38%) of home are most appreciated aspects of new home

 

Do people actually regret moving? Whether moving for a new job or to retire, moving in with a significant other, or moving back in with your parents, there are many factors at play for making the big jump.

This is why it seems perfectly natural that no matter how hard we prepare for our move, we might regret something about it afterward. 

And yet, most Americans who moved in the last year don’t regret their decision. In fact, most believe it made their life better, despite some reported complex feelings from those who did end up regretting their moves. 

Read on as we break down our most recent survey of over 1,200 people who moved over the last year.

A Regret Shared: Almost One in Three Americans Who Moved Have at Least Some Regrets

While most of those who moved in the past year don’t look back, about a third (30%) have at least a few regrets about their move. 

Millennials are the least pleased with their move, as 37% of them regret at least something about itmore than any other generation. Gen Z, on the other hand, is a lot more optimistic, as only 27% of them found something regrettable about their move.

Why people move might also have an effect on whether they regret it. Those who moved due to COVID, for example, are more likely to experience regret (31% versus 22%).

Similarly, those who moved in search of cheaper housing are somewhat predictably more likely to regret their move (33%) versus those who moved to a new and better home (19%).

Leaving Friends, Neighborhood, and Family: America’s Biggest Moving Regrets

People often claim they don’t like their living situation (e.g., rent cost, landlords). But what does the data say?

In truth, moving is more of a complex trade-off. Moving somewhere for work or study sometimes comes at the price of moving away from family; moving to a bigger, better home often means exchanging a bustling, vibrant city for quiet suburban living. 

 

“While most of those who moved in the past year don’t look back, about a third (30%) have at least a few regrets about their move.”

 

So it’s no surprise that Americans reported these factors (over bad landlords!) as the most regrettable aspects about their overall move. According to respondents who reported having regrets about their most recent move, nearly half (49%) list moving further away from friends over all stated reasons. 

Meanwhile, some 40% miss the area they used to live in, while 38% have regrets about moving further away from family, the latter likely exacerbated by the restrictions on family gatherings brought about by moving during the COVID pandemic

moving regretsNearly a quarter (23%) of those who regret moving feel that way because it meant leaving their previous home. This sentiment is most common among those who moved to save money on housing costs.

But other moving regrets are less sentimental and more tangible. For 30% of people who claim to regret moving, it’s not where they chose, but how much they paid for the move that added to their disappointment. And for roughly 10%, it’s the choice of moving company they wish they could do over. (It literally pays to do your research.)

Instant Regret: A Quarter of Americans Who Regretted Their Move Knew It Immediately

When you know, you know, as the old saying goes. As many as 26% of Americans who have regrets about their move developed that feeling straight away. An additional 9% developed regrets after a week. Meanwhile, it took 26% one whole month to realize their newfound predicament.

That New Home Feeling: What Americans Like and Dislike About Their New Homes

Judging by our survey, if there’s one thing Americans make sure their new home delivers on, it’s location. Over 60% of those surveyed reported liking where their new place is, while only 9% aren’t happy with it.

 

“Millennials are the least pleased with their move, as 37% of them regret at least something about itmore than any other generation.”

 

moving regretsHome size (41%) and layout (38%) are the second and third most appreciated aspects of a new residence, while roughly a third pointed out they’re happy about the amenities in their home (32%) and the local area (30%).

The most common dislike with regards to the new place was financial. Almost one in five (19%) Americans who moved in the past year aren’t happy with the cost of their new home. In fact, people who moved specifically to save on housing costs are most likely (69%) to be unhappy with what they’re paying in rent or mortgage for their new place. Knowing this, it’s vital to make sure you compare the moving services in your area for the best possible price.

The Right Move: Despite Regrets, Most Feel Their Move Changed Their Life for the Better

More than 8 in 10 (82%) Americans who moved in the last 12 months feel that the move changed their life for the better. Even 77% of those who have some regrets about their new home or how the move went seem to believe it was the right thing to do.

Much like with regrets, people who moved for certain reasons felt differently about the impact their move had on their life in general. For example, a reduced 69% of those whose move was forced by COVID felt the move affected them positively. 

People whose primary reason for moving was a new or better job are also less likely to feel that way—only 68% of them felt their move had a positive impact on their life.

A small minority (5%) felt the opposite way, saying that moving made their life worse. Only about one in ten (13%) admitted moving didn’t really make a difference to them one way or the other.


Most people have difficulty with coping with and embracing change, even if change is for the better. This is probably why many Americans who moved in the last year have at least a few regrets about their decision, even though the data overwhelmingly suggests moving makes people’s lives better on the whole.

Sources and Methodology
All the figures referenced above are based on a multi-question survey of 1,253 Americans who booked and completed a verified move using HireAHelper.com within the last 12 months.

 

Illustrations by Nero Hamaoui

The Home Buying 101 Guide for Millennials

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In 1970, the median age of first-time homebuyers was 30.6 years. Today, according to MarketWatch, the median age of American homebuyers is 47 years. Since the 2007-2008 financial crisis alone, the median age has increased by eight years, and that rise is largely attributed to the dramatic decrease of millennials entering the housing market.

The American Dream is changing, and with it, the fundamental desire to own a home.

Why Aren’t Millennials Buying Homes?

In 2019, only 43% of millennials owned the homes they lived in, compared to 66% of generation X and 77% of baby boomers. A combination of debt, high housing costs, and a generation with different priorities all contribute to millennials forgoing homeownership.

An important policy goal of the US government has long been to encourage homeownership. Historically, that’s been done through the federal tax code and residential mortgage regulation. But since these things benefit mostly higher-income, better-educated homeowners, these policies are no longer as effective as they once were.

The Brookings Institute points out that a better path to encouraging homeownership at a younger age would be implementing policies that create more opportunities for wealth-building. But until that happens, the median age is likely to keep increasing.

Here are the biggest factors contributing to the wealth gap.

Student loan debt

Student loan debt plays a massive role in millennials deciding not to buy a home. In a survey of student loan borrowers, 83% of non-homeowners cite student loan debt as the reason they haven’t bought a house. Indeed, the average monthly student loan payment is $393 a month, which leaves many unable to save for a down payment on a home.

The most recent student loan debt statistics show that in 2020, there were almost 45 million student loan borrowers who had an average debt of around $33,000.

Rent burden

Millennials are more rent-burdened than any other generation. Rent burden occurs if more than 30% of your income goes toward paying rent — and millennials spend 45% of their income on rent. And while the average living wage is $68,808 a year, the average millennial makes just $35,592 a year, and rent burden plus low wages create a double-whammy for many young people.

“Whether or not you can afford to buy a home depends on your income, the property prices in your location, how much other debt you have, and how good your credit score is.”

Delayed marriage

Marriage increases the chances of homeownership by 18%, and according to the Urban Institute, delayed marriage is one of the biggest factors for why millennials aren’t buying homes. In 1960, couples typically entered their first marriage in their early 20s, but today, the median age for a first marriage is nearly 30.

Delayed procreation

Having children is another important factor in people’s decision to buy a house — having kids increases a person’s chance of homeownership by 6%. But millennials are in no big hurry to have kids. In 1990, 37% of married couples aged 18 to 34 had children, but in 2015, just 25% of young couples were parents.

More diversity, more inequities

The millennial generation is far more diverse than previous ones. According to the Brookings Institute, the young adult age group was 73% white in 1990. In 2000, it was 63% white. Today, the millennial generation is around 56% white, with 30% of its population made up of Hispanics, Asians, and people who identify as two or more races. Historically, homeownership rates are lower among Black, Hispanic, and Asian Americans when compared with white Americans — and today, just 14.5% of Black millennials own a home, compared with 39% of their white counterparts.

What Does it Realistically Take to Buy a House or Condo?

rent a condo

Maybe you’re not interested in becoming a homeowner at a tender age, and that’s perfectly fine. Renting definitely has advantages over buying, and if you prefer the unencumbered life, apartment living frees you up to move wherever, whenever.

However, if you dream of homeownership — but feel like it’s only a pipe dream — you might want to look into homeowner rates to be sure. In many cases, a mortgage is less expensive than rent, and a number of federal and state programs exist solely to help first-time homebuyers like yourself. You might be surprised to find you can afford to buy a home, after all.

You have to use the “28/36 Rule”

Whether or not you can afford to buy a home depends on your income, the property prices in your location, how much other debt you have, and how good your credit score is.

A good starting point for figuring out whether you can afford to buy a house is to use the “28/36 rule”. This rule states that your total household expenses (including your mortgage, utilities, and property taxes) shouldn’t exceed more than 28% of your gross monthly income, and your total household debt (like credit cards and car loans) shouldn’t be more than 36% of your gross monthly income. So figure out those percentages, and you’ll have a rough idea of what you’re working with.

The lowdown on home loans: How do mortgages work?

Unless you’re loaded with cash, you’ll need to get a mortgage like most people. But what specifically is a mortgage, anyway?

A mortgage is an agreement between you and a lender (typically a bank but not necessarily) that says the lender will give you money to buy a house, but if you don’t make the monthly loan payments, they’ll take it away, and you’ll lose any equity (ownership) you’ve built up. A mortgage payment is like rent, but for homeowners. When you borrow money to purchase your home, you pay it back over, say, 15 or 30 years, with interest. The bank figures out how much this adds up to each month, and that’s your mortgage payment. Once your mortgage is paid off, you have full ownership of your home.

What’s the deal with interest rates?

Interest rates are calculated as a percentage of your mortgage loan. Each mortgage payment you make pays back a portion of the principal (the full amount you borrowed) plus the interest that accrued that month.

Fixed-rate interest means that your interest rate won’t change during the life of the loan, and you’ll pay back the same amount each month.

Adjustable-rate interest means that the interest rate may change under certain conditions, and if it does, your lender will adjust your monthly payments up or down until the next rate change.

The longer you take to pay off your mortgage, the more you’ll end up paying in interest. The best way to keep your interest rate low is to pay back the loan as soon as possible, never forget a payment, and pay more than your monthly minimum, if possible.

What Are ALL the Costs Involved in Buying and Owning a Home?

buying a home

Here is a list of important terms to learn and keep handy, even if you know them backward and forwards.

Down payment

Traditionally, people buying a home pay 20% of the price of the house up-front. It’s possible to buy a home with a smaller down payment, although that could mean increased borrowing costs and higher monthly payments.

Closing costs

Closing costs are lender and 3rd party fees and expenses that are paid at the close of the sale transaction. These costs run roughly 2-5% of the loan amount and could include things like appraisals, taxes, insurance, prepaid interest, and application, origination, and attorney’s fees.

Some lenders allow you to fold the closing costs into the loan, but that makes your loan payment higher, and you’ll end up paying interest on those costs for the life of the mortgage! Your lender will outline your closing costs in a Loan Estimate, which you’ll receive when you apply for the loan.

Monthly mortgage

Your monthly mortgage payment depends on the amount of the loan + your interest rate.

Property taxes

The Man’s gotta take his chunk, and property taxes is how it’s done. Your property taxes pay for things that make your community better, like schools and road repairs. Property taxes are based on the value of your home, and rates vary by location and fluctuate often due to changing needs and priorities in the community.

“In 2019only 43% of millennials owned the homes they lived in, compared to 66% of generation X and 77% of baby boomers.”

Homeowner’s insurance

Homeowner’s insurance covers losses and damages to your house and assets due to theft or damage. Rates vary by state and region, but the average annual premium in 2017 was about $1,200.

Hazard insurance

Hazard insurance is a more extreme homeowner’s insurance—it protects you from structural damage caused by natural disasters. Hazard insurance is determined by local risk factors such as fires, flooding and earthquakes, and it’s usually included in your homeowner’s insurance policy.

Mortgage insurance

Mortgage insurance protects your lender against loss if you default on the loan. This could cost up to 2% of your total loan amount per year if you didn’t make a down payment of at least 20%.

HOA/Co-op/Condo fees

These are monthly membership fees used to pay for improvements like landscaping and painting and for amenities like swimming pools and gyms. The fee varies dramatically based on the organization and where you live. Upscale condos and homes typically have higher fees and stricter rules than more modest digs.

Utilities

Electricity, gas, water, trash collection, recycling, internet, cable, and security monitoring are daily essentials that you pay monthly, and their costs vary depending on where you live. Bigger homes generally have higher utilities.

You better shop around!

You probably wouldn’t buy the first car you looked at, or the first pair of shoes you tried on, and so it is with the first lender you come across. Shopping around for the best mortgage takes time, but it’s time that can save you lots of money.

Mortgages don’t just come from banks—credit unions, brokers, and independent lenders also deal in mortgages. Know how much you can afford for your down payment, then choose a few institutions to approach for a loan. Ask for all of the costs involved in the loan, including all the stuff above. Compare the loans, and then approach the lender you like best. If you’re charming and savvy, you may be able to negotiate lower fees or better terms. Once you’re happy with what the lender is offering, get it in writing, or it’s not real!

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The Real Pros and Cons of Buying Vs. Renting

Studio apartment

Which is generally better, buying a home or renting? Millennials often don’t really get a choice. But let’s say you do, or are rising the economic ladder. Maybe you just want to know what your situation is affording you.

Buying a home is a big decision and a major financial commitment, but it offers more stability and the freedom to do what you please with your home. It also offers the opportunity to better accommodate lifestyle priorities, such as indoor and outdoor living and environmental sustainability.

Of course, renting is appealing because it comes with fewer responsibilities, yet you also don’t get as much autonomy or privacy as with homeownership. There’s no easier way to make sense of buying versus renting than with good, old-fashioned pros and cons lists:

The PROS of RENTING vs. buying

  • You don’t have to pay property taxes or spring for homeowners insurance
  • When the furnace breaks down or the roof leaks, you don’t have pay for new ones
  • You’re free to move out with a 30-day notice
  • You don’t risk foreclosure if you lose your job or take a pay cut
  • A rental deposit is far less expensive than a downpayment on a home
  • You have fewer responsibilities, including upkeep
  • Utilities are generally less expensive in an apartment, and some are even included in the rent

The PROS of BUYING vs. renting

  • Mortgage payments build equity in the home
  • Homeowners often enjoy more tax deductions than renters
  • Homeownership offers a sense of stability and putting down roots
  • You can do whatever you want with your space
  • Pets are always allowed
  • Monthly payments end once your mortgage is paid off
  • You have an asset to borrow against if you want to make improvements

The CONS of RENTING vs. buying

  • Rent often increases, unless it’s fixed
  • Renting offers no tax benefits
  • Less stability—if the landlord sells and the new one wants you out, you have to go
  • You generally can’t customize your space—painting, knocking out walls, etc.
  • You have to rely on someone else to get things fixed or improved
  • Rent payments never end
  • Pets might not be allowed

The CONS of BUYING vs. renting

  • It costs a lot upfront to buy a house
  • It’s more expensive to maintain a home you own than a rental
  • You have to be more responsible—making sure the mortgage is on time, your sidewalks are shoveled, you don’t alienate your neighbors
  • Your home price might lose value, making it a poor investment
  • It requires a long-term commitment, which may be scary for some people
  • It’s far more difficult to move, since you have to sell your home first
  • You may be liable for injuries sustained on your property (hence the homeowner’s insurance)
  • If something happens and you can’t pay the mortgage, your bank may foreclose on you
  • Ideally, you need to have a buffer in savings in case something goes wrong

The Pros and Cons of Buying a Condo vs. Buying a House

Well, what about condos?

Houses and condos are like apples and oranges—sure, they’re both a place you live in, but other than, that they vary quite drastically. Your lifestyle might be better suited to a house over a condo, or vice versa. Don’t just look at prices when choosing which housing situation is best for you—here are some of the differences to take into consideration.

PROS of BUYING A CONDO vs. a house

  • A condo is generally less expensive per square foot than a house
  • Many condos have concierge services
  • Landscaping and exterior maintenance and repairs are covered by the homeowner’s association or HOA
  • Amenities like a gym, pool, or clubhouse are usually included
  • Homeowner’s insurance is less expensive
  • You’re part of a community

PROS of BUYING A HOUSE vs. a condo

  • A single-family residence offers more privacy than a condo
  • A house is easier to sell than a condo
  • You have direct, easy access to a private outdoor space to build a garden or install a pool
  • You have more creative freedom with your space

CONS of BUYING A CONDO vs. a house

  • You have less privacy since other people live on the other side of your walls
  • Potentially strict HOA can make it impossible to customize your condo
  • HOA fees can be expensive, and you pay them on top of the mortgage
  • Many condos don’t allow animals
  • You can’t DIY your outdoor space

CONS of BUYING A HOUSE vs. a condo

  • You’re responsible for handling the exterior issues, like painting, landscaping, maintenance
  • Utilities are more expensive
  • Potentially strict HOA may limit what you can do with your home

Rev-Up Your Credit Score, and Drive Down Your Interest Rate

credit score

Alright, but what about credit scores? Do they matter?

Without good credit, it’s going to be virtually impossible to score a low-interest rate on your home loan. Before you embark on a home-buying journey, it’s a good idea to check your credit score and pull your credit reports. If your credit reports have incorrect information, getting mistakes resolved before you apply for a loan can raise your score and net you a better rate.

“And while the average living wage is $68,808 a year, the average millennial makes just $35,592 a year…”

Three credit bureaus maintain files on how you handle credit, including whether you pay bills on time, skip credit card payments, or have items in collection. Different lenders have different criteria for various interest rates, but even a few points on your credit score can mean the difference between half a percentage point—and thus dramatically affect your monthly payments.

Many lenders use the Fair Isaac Corp. (FICO) model for ranking your credit score. This system grades you on a scale of 300 to 850 points, with 800 points or more indicating exceptional credit and under 579 points indicating poor credit. It’s not super easy to increase your credit score—it can take a little time, but the time is well worth it if it means a lower interest rate on your loan.

If you’re worried about your credit, here’s what you can do

Find your current credit score

First, check out your current credit score so you know what you’re dealing with. Order your credit report, which will give you information on which factors are most heavily influencing your score, such as late payments, credit-to-debt ratio, and items in collections.

Focus on virtually nothing else but paying off your debts

Make a budget plan to pay off any outstanding debts you have. Pay off the most expensive debts first, and work your way down the line. Try to pay more than the minimum balance on loans and credit cards each month, and utilize low-interest, balance transfer credit cards to keep the interest low.

Make all your bills scheduled to be automatic

Everyone forgets to pay a bill now and then, but chronic lateness has a negative impact on your credit score. This goes for all of your bills, including utilities, credit cards, and loans. Set up automatic payments for your bills, or set calendar reminders to help you pay on time.

Maintain good credit card debt-to-limit ratios

Credit card companies look at your credit utilization ratio to see how well you manage credit. This is calculated by taking the total amount of all of your credit card balances and dividing that amount by your total credit limit. Keeping your credit utilization ratio low shows lenders that you’re good at managing credit.

Don’t apply for new credit accounts unless you absolutely must

As you’re remedying your old debt, try not to rack up any new debt. Avoid opening up more credit accounts unless it’s absolutely necessary. The more credit accounts you have, or the more you apply for new accounts, the riskier you appear to be.

Keep unused credit cards open

It sounds logical to close your unused credit accounts, but doing so actually increases your credit utilization ratio and lowers your credit score. Unless the unused accounts are charging you fees, keep them open.

Check your credit report at least once a year

Once you’ve got your credit score under control, make sure to check it at least once a year, and report any inaccuracies to the appropriate bureau.

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How to Save Money for a Down Payment Without “Giving Up Your Daily Latte”

You probably love it when people tell you that if you’d just quit your daily Americano or avocado toast habit, you’d be able to afford a house, but you don’t have to listen to them. With a little creativity, you can save money without giving up your favorite creature comforts.

First, set a goal. Figure out roughly how much you’ll probably spend on a house, then figure out how much a 20% down payment will be. If that amount makes you spit out your coffee, try 10%. But don’t go any lower than that. Then, open a savings account if you don’t already have one, and start socking away money as you can.

Here are a few hot tips to help you reach your goal faster.

Treat your savings like a bill

Instead of looking at your savings like an optional expense that you can put off until next month, think of it as a fixed cost that you must pay, just like your electricity and phone bills. Have the money deducted from your paycheck and sent directly to savings so it never crosses your path.

Cut recurring expenses from your budget

Look at your spending habits, and decide where you’re able to cut down. Can you cancel your $100-a-month gym membership for a few months and hit the running trail instead? Eat or drink at home most of the time instead of ordering in or going out? Pare down your digital subscriptions to just the essentials? A little here and a little there will add up faster than you think.

Find a side hustle

Make some extra scratch each month with a second job. Rideshare services or food and grocery delivery are great options for a little extra cash if you have a reliable car. Bartend one night a week at your local dive bar, or tutor online.

Focus on your high-interest debt

Start hacking away at your credit card or loan with the highest interest rate. After you’ve paid off the balance, move on to the next. Transfer your high-interest rate balances to your card with the lowest interest rate.

Try These Sweet Programs for First-time Home Buyers

first time home buyer

First-time buyers may be eligible for special grants and zero-interest loans through various state and local programs. Requirements for each program vary, so check with your state’s housing finance agency or the organization providing the loans to see what you’ll need to do. These are some of the loans available to first-time home buyers.

FHA loan

FHA loans are insured by the Federal Housing Administration and are for low-to-moderate-income buyers – they generally have lower credit score and down payment requirements than other loans.

Click here.

USDA loan

The US Department of Agriculture guarantees loans for some rural properties and offers up to 100% financing. These loans are for low-income folks who don’t qualify for traditional mortgages. USDA loans are low-interest and don’t require a down payment.

Click here.

VA loan

The Department of Veterans Affairs offers zero-down payment loans for veterans, military personnel, and their spouses. They have low-interest rates and don’t require a minimum credit score to qualify. These loans have the option of being used to refinance an existing mortgage.

Click here.

Good Neighbor Next Door

These loans are offered by the Department of Housing and Urban Development (HUD) for firefighters, law enforcement officers, teachers, and emergency medical technicians. Those who qualify receive a 50% discount off the listed price for homes located in “revitalization areas.”

Click here.

State and local first-time buyer programs and grants

States and cities provide down-payment and closing cost assistance through these programs and grants if you’re a first-time buyer. Look into your state’s housing authority program for more information on the type of assistance available to you.

Click here.

Native American Direct Loan

This is a VA-backed program that provides Native American veterans and their spouses to buy, renovate, or build houses on federal trust land. There is no down payment and the closing costs are low.

Click here.


While the average age of first-time homebuyers is rising, that doesn’t mean there’s no hope for young people to buy a house if they want to. If you’re thinking you’re about ready to put down some roots, maybe grow a garden, and stomp around all you want without disturbing your downstairs neighbors, start saving today, improve your credit score, and find yourself a little piece of the earth to call your very own.

How to Sell a House: A Guide from A to Z

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If you’ve ever sold something on Craigslist, you probably know how much work even just that can be involved. You’ve gotta take photos of the item, figure out a good price, and then post it online with a descriptive caption and details about the piece. Afterward, you’ve gotta field the emails and calls, then wait for a random stranger to come pick up your item.

Now, take that process and multiply it by 100 … that’s what it’s like to sell a house!

We’re not gonna sugar coat it; there is a lot of work and serious effort involved in selling a home. That’s why we wrote this post to outline the entire process for you. Understanding what you’ll be doing is the first step towards slapping “SOLD” on the sign in your front yard.

Craft a Selling Gameplan

Once you decide to sell your house, you probably would like if it all happened pretty quickly. But nothing good happens without a plan. So the first order of business is to make a selling gameplan. This is what that looks like.

Agent or No Agent?

The first major step in the selling process is figuring out if you’re going to hire a professional real estate agent or sell your home yourself. If you go the “For Sale By Owner” route, you could, in theory, save some money. But if you’re new to the home selling process, you may be way over your head if you DIY it. Ask yourself if you have the time, knowledge and marketing skills to sell your house all by yourself. If you come away with a resounding yes, it could be the right move for you!

Though if you decide to go with an agent, take the time upfront to find a good one. Ask friends for referrals, read reviews online and interview more than one agent before you hire the winner. A good agent should educate you throughout the process, and it ultimately should be someone you deeply trust.

This post outlines tips on who to contact, when, and how to do it.

Choosing the Right Time

The best time to sell is March through June. That leaves parents an entire summer to get their kids adjusted and ready for the new school year. So if you can wait until the spring and early summer months, do it! It’s always best to avoid selling during winter and the holidays, as most people aren’t looking to buy homes during that busy time of year on average.

Find the Right Price

The first 30 days of activity are crucial when it comes to selling your house, so price matters. You may assume that you should start high and then lower your price if you don’t get any attention, but if it sits on the market for too long, your listing can become stale. Buyers may stay away if you price too high or assume that you’re not serious about selling. Price it right from the start and you’ll probably sell your home much faster.

If you’re using an agent, they will work with you to figure out the best price for your home. You can also research other comparable homes in your area, and maybe even attend some open houses. Plus, there are many online resources that will help you track down the perfect number for your area. These things will all get you a good feel for the market and how your home compares.

Prep Your Home

Painting the House

Before you can officially get your home on the market, you need to get it looking it’s very best. If you fail to make your home look presentable, then you may not get the asking price you’re looking for, or even worse … it could sit on the market for far too long. You need to showcase your home in its best light, and the only way to do that is with some hard work and effort. Here’s how to prep your home for the market:

De-Clutter and De-Personalize In Six Steps

This first task will cost you literally zero dollars. Yep, you can already make your home look 10 times better without spending a dime. Here’s how.

  • Find a spot where you can store items out of sight. That could be an attic space, shed, or even a storage unit that you rent while you’re selling.
  • Remove excess bulky furniture. The more space to walk around, the better.
  • Try to pare down at least 10% in each room. Gather extra accessories and items that are taking up space.
  • Permanently clear all counters in your kitchen. And try to get rid of most items on surfaces (i.e., desks, dressers, etc.).
  • Donate everything you clear. (Or add them to your designated storage spot.)
  • Remove any personal items from around your home. This means things like picture frames and family knickknacks.

These six steps will have your home looking so much more sellable. Your space will be lighter and brighter for the photography and showings later on! Don’t forget about closets and drawers too. Buyers are nosy, and they’ll be checking out every nook and cranny in your house.

Make Small Home Upgrades

You don’t necessarily need to renovate your kitchen or bathroom to sell your house, but there are small upgrades you can make to improve your home. Here are some ideas that will instantly improve the look of your space (and potential home value!).

  • Give your walls a fresh coat of paint. Be sure to consult this list of paint colors with the best resale value first!
  • Upgrade your kitchen on a dime. Swap cabinet hardware, replace your faucet, and add new pendants for a quick and budget-friendly new look!
  • Boost curb appeal with a painted door. This post will help you pick the perfect hue. (Also helpful is a cleaned up yard and fresh flowers.)

Finally, if something has been broken (and on your to-do list for years), now is obviously the time to fix it!

Clean From Top to Bottom

There’s another essential (but free) task you’re going to be doing to make your home look a lot better: cleaning everything! Grime and dust can quickly deter buyers from truly considering your home, so get every nook and cranny sparkling. These posts will help you channel your inner Mr. Clean.

Marketing Your Home

If you’ve gotten to this step, your home is in tip-top shape from all of your hard work and it’s ready for its debut to the world! Marketing your home is by far the most important step of the home selling process. You can have the most gorgeous house on the block, but if no one sees the listing it’s never going to sell.

Stage and Photograph Your Space

You’ve already prepped for the staging when you got rid of personal items and removed clutter. Good work, that’s 90% of the battle. Now it’s time to add the finishing touches before your home’s photo shoot.

Make sure every room is clean, all beds are made, and blinds are open to let that natural light in! (Natural light is ideal for photos.) It’s important to keep accessories to a minimum, but if you do want to add a few we suggest opting for plants and flowers. This post has lots of tips on how to do it right.

Pictures are the most important part of a home listing, so it’s crucial to get these right. If you don’t think you can DIY it, then hire a pro! Investing in a professional photographer could potentially be the biggest money spent to money gained ratio in the entire process. If you’re using an agent, often times they will pay for this service. A professional is always a good idea because they will know how to photograph your home to make it look its best.

If you’re selling your house yourself (or just want to save some money), it’s possible to take your own pics. We suggest using a wide-angle lens, shooting during the daytime, and using a tripod. For more DIY photography tips, check out this post.

Promote Your Sale

Don’t solely rely on your agent to promote your listing. You can take some of the marketing efforts into your own hands and broadcast your sale to the world! Put your listing on social media sites, email your friends and family, and let neighbors know that you’re selling. You never know who might be looking to buy, so it’s worth it to use your own network to get the word out. Here are some of the most common sites people use for listing and/or real estate research:

Bring on the Showings

Simply put, homes that don’t get shown don’t get sold. So the first order of business is to make your home available for showings. That could mean a few open houses on the weekends and availability during the week. We highly recommend that you leave the house during showings so buyers can really feel comfortable checking out your space. It may be an inconvenience for you and your family, but remember that it’s only temporary!

You’ll also want to do these 10 things before any open house to get your home looking (and smelling) its best!

Keep It Clean

It’s hard to live in your home like a normal person and keep it ready for showings at all times. But you’ve gotta do your best to keep your home clean and organized. Whenever you leave the house, tidy up and wipe down all of your countertops. That way if you need to have a last-minute showing, your home is ready to go.

Get Everyone Out of the House

It’s important for buyers to check out an empty house. So that means that you, your kids, and any animals should make a plan to high-tail it out of there. That could mean taking the dog for a long walk or heading over to a friend’s house for the day. But no matter what, come up with a plan for where your family will go when those last-minute showings happen. And if you do have pets, be sure to remove their items (e.g., dog bowls, cat litter, etc.) from the home before buyers come in.

How To Get Ready For Closing

If you’ve made it this far, then congrats! You’re almost to the finish line. Here’s what happens now:

Appraisal and Inspection Time

After the listings and showings, you will (hopefully!) get an offer on your place. After you’ve accepted an offer, most buyers will do an inspection of your place within a week. You won’t need to be there for the inspection, and you’ll usually have the results within a few days. At that time, you’ll know if all went well, if you need to fix a few items yourself, or if you’ll offer the buyers a credit to fix things themselves.

Here’s our full guide for how to deal with a home inspection.

Next, it’s time for the appraisal. Appraisals usually happen within a week of the home inspection. You can do some homework before the appraisal to improve the chances of getting a higher price. Provide a list of recent home improvements and receipts to explain the value you’ve added to your home.

The results of the appraisal may take a few weeks. If your home appraises, you’re good to go! If not, you’ll have to negotiate with the buyer to find a price that works for all parties.

Prep to Move

After the appraisal, you’ll be on track for closing day. You can finally start to pack things up and get ready to move out of your home. This would be a good time to think about hiring some help for moving day. It’s also time to start packing! This handy checklist will keep you on task so you stay organized and on top of your move.

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Saying Goodbye to Your Home

Congrats, you sold your house! All that’s left to do is say goodbye and toast to all of the memories made in your place. As a bonus, you can also leave your buyers a little gift as you head out (like a booklet of your favorite restaurants or just a note with tips on their new house). It’s a great way to hand off your past experiences to the new homeowners. Onward!

House Hunting While Expecting? Don’t Forget About These Things

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As a mom-to-be, I had one thing in mind when my husband and I were recently house hunting while expecting: a space that was ideal for our growing family. We were no longer just looking for a home that was perfect for both of us, but instead, we had to think about our soon-to-be family of three (or someday even more!).

As if house hunting wasn’t hard enough, the “future family factor” can make the process even more daunting. If you’re expecting, or hope to start a family someday, then you’ll definitely want to keep the factors below in mind when searching for the home of your family’s dreams.

Floor Space

The most obvious and non-negotiable place to start is the size of any prospective home. Will it be able to accommodate you and your partner, along with one or more kids? Ask yourself these questions:

Where are the bedrooms located to one another?

Of, course you want to have enough bedrooms, but that alone isn’t enough. Like someone sketching out the perfect blueprint, you’ll want to consider where the bedrooms are located to one another. It’s preferable to have all the bedrooms on the same floor, so they can easily get to their child’s room at night.

Is there more than one bathroom?

Surprising nobody, people will walk away from incredible arrangements if this single factor is off – and it’s no wonder why. Whether this is your forever home or not, multiple family members getting ready for work and school in one tiny bathroom won’t cut it long-term.

Are stairs going to be a factor for you? (Probably.)

Parents who are city dwellers know how difficult it can be if you live on the third floor of a walk-up building. Even after pregnancy, bringing a stroller, a baby and groceries up and down three flights of stairs is quite the trek! Especially if you’re at the beginning of your family adventure, stairs may be a major factor to consider.

Is there an open floor plan?

These days, open floor plans are the most desirable, as parents can keep an eye on their kids playing while making dinner. Make sure whatever layout you choose is one that works well for you and your kid’s safety.

Where are you gonna store extra stuff?

Kids come with a lot of stuff. Strollers, clothing, toys, sports equipment … is there storage space for all of these things in your potential home? Make sure you have a concrete plan to contain the clutter!

Safety Concerns

Even if there weren’t any kids to consider, safety is a priority when house hunting. Add kids to the mix and you become even that much more aware of potential safety hazards that lurk in a potential property.

Is this home near a busy street?

A busy street can be a potential deterrent for a number of factors. First, it may be pretty noisy which isn’t ideal for sleeping babies, trust us. But (somehow) even more importantly, you don’t want your kids playing in a yard that’s on a street with lots of traffic. Here’s a protip: Google Maps highlights streets by their traffic. The darker the color, the more that’s “happening” there. A double-edged sword, to be sure!

What about a fence?

A fence in the backyard or front yard may be a priority for some expanding families, as it allows kids to roam the patio without wandering off too far. If there isn’t a fence (and you want one), budget in the cost of adding one when checking out potential properties.

Can kids play in the neighborhood?

When house hunting, you’ll want to get a feel for the neighborhood. If kids are out riding their bikes and playing in the streets, it may be a kid-friendly spot where your future kiddos can hang with their neighbors. If you want to get a feel for the crime rate, there are definitely handy websites that show you the police blotter for any given area. Your notes shouldn’t begin and end at the front door!

How far are you from your personal doctor or an urgent care/hospital location?

You know that scene in movies where a nervous husband carts his “in-labor-and-about-to-burst” wife into the car before zooming through traffic? Well, planning out where the hospital is not a one-and-done trick. While we hope you won’t be using this route often, make sure where your health insurance is accepted and where you live aren’t majorly out of sync. Speaking of this tip …

Location

Location, location, location. It’s always the number one factor when buying a home of any kind. But throw a kid or two into the mix and where you live is more important than the view.

What’s the school district like?

We’ve chatted all about the importance of house hunting with a school district in mind on the HireAHelper blog before, and we maintain this shouldn’t be overlooked. Do your research, look into the numbers, and make sure you’re in a school district where your children can thrive!

5 Sweet Garage Upgrades That Up Your Home’s Value

Garage additions and upgrades like the five in this list can produce an estimated 65 percent return-on-investment.

How long does it take to get to school?

When my husband was a kid, he had to take a 30-minute bus ride to the other side of town for school every single day. If you don’t think about this before buying, trust us, you will afterward. Can your child walk to school? Can you drop them off on the way to work? Is the bus ride manageable? Even if your kid is far from their first words, this is a crucial variable to think about when searching for your perfect home.

Are there other families in your neighborhood?

When narrowing down locations, it may be beneficial to take a stroll through the neighborhood on a weekend afternoon. Are there young families at the park? Are the kids a lot older? Is the demographic mostly older people without families? Do some research online (like with this app) and get a feel for the demographics of the neighborhood to see if your future family will fit right in. It helps to have a helping hand and a night out once and awhile!

Where’s the closest park/library/swimming pool?

When you’re a parent, you want to keep your kids entertained to prevent anyone from saying the b-word (no, “bored”). Having parks, libraries, swimming pools and other fun activities nearby is always a good idea. Nobody wants to have to make a field trip out of every excursion.


Starting a family. Buying a home. These are big milestones for anyone! But combining these two life events? You’ve got the recipe for a lot of important decision-making. Our advice is to be thoughtful, consider every angle, and think about your life 5, 10, or even 25 years from now. That way, you’ll be certain you’re making the best choice for you and your future family no matter what it looks like.

Building a Smart Home: Where to Start?

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These days you’re able to control just about everything with the click of the button. Want a hot pizza? There’s an app for that. Want to get a manicure without leaving your couch? There’s an app for that too.

You can control almost all aspects of your life using just your smart phone! The same goes for everyday items around the home. You can unlock your door, turn on the A/C, and turn the lights on using your smart phone. Everyday essentials are quickly being replaced with innovative products designed to make your day-to-day life easier.

Iphone-pictureNow we’re not claiming to be the most tech-savvy gals around, but we have been really intrigued by the idea of creating a SMART HOUSE to make our lives a little bit easier and perhaps even to save some money. So over the next 4 weeks, we’ll be diving into a series about CREATING A SMART HOME. (more…)

How Do I Remove Smoke Odor From My New House?

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Update: For a guide on removing odors anywhere in the house, check out this page.


How Do I Remove Smoke Odor From My New House? Pic 1

A friend of ours recently bought a house in which the previous homeowner was an avid smoker… meaning their new house reeks of cigarette smoke. The smoke smell was so severe that she and her husband actually got a great deal on the property. They loved the price but they definitely do not love the looming smell of smoke, especially since these newlyweds have a baby on the way. Before they move into their new place, they want to make sure they remove the disgusting smell and create a space that is safe for their growing family.

How do I remove smoke odor from my new house?

Here are the tips that they vowed worked best for them: (more…)

Hidden Costs of Homeownership

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Category: Buying & Selling a Home, Money Saving

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Hidden Costs of Homeownership Opening Image

My husband and I are currently looking to buy a home in Chicago (we know right where to find move help in Chicagoland)) and it’s been one heck of an emotional roller coaster. Excitement, fear, anxiety…let’s just say that making this big purchase is a bumpy ride.

While we have many must-haves for our new pad (2 bedrooms, quiet neighborhood, close to public transportation), by far the biggest factor is our BUDGET. (more…)

How Do I Get A Home Loan?

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Category: Buying & Selling a Home

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How Do I Get a Home Loan?Lately, we’ve been chatting all about the process of buying your first home sweet home. To begin, we listed some tips to help you with the whole buying vs. renting dilemma. If you read that blog post and came to the conclusion that you’re ready to give up temporary decorating techniques and add “homeowner” to your resume… then today’s post is perfect for you!

Now, before you start scouring the real estate listings for your dream home, you need to figure out how much house you can afford. Yep, like many large purchases you’ve gotta start with a BUDGET.

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If you’re going to be borrowing money from a bank (which I’m guessing is most of you), you’ll need to chat with a mortgage lender or broker to find out how much cash they’re willing to cough over.

(more…)

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