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Fine-Tuned Finances

Make Your Wallet Run Like New Again

5 Ways to Sell Your Home for More Money

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Sell Your Home for More Money

You know, a house can never be a home until you finish the mortgage payments. And in these difficult economic times, that may be hard to do. There is no shame in realizing you can’t afford your home and need to sell it. The real shame is not realizing the unwitting, self-sabotaging acts you may be committing that prevent you from selling your home. There are strategic ways that you can sell your home for more money.

You can research potential buyers so you can know who is more likely to buy than not.

Sell Your Home for More Money – The Basics

Make sure you create neutral aesthetic visual environments around your home.

This creates the psychological effect of the prospective homeowner mentally imprinting themselves in your home.

Get rid of any wall-to-wall carpeting. You’re assuming that a homebuyer wants to deal with the expensive maintenance involved.

Think strategically beforehand about how home buyers mentally assess home purchases relative to your circumstance. You will sell your home for more money.

Here are 5 tips.

 Research Your Potential Homebuyer

In this economic environment you can’t afford to hope that your online real estate listing will be read by your ideal homebuyer.

For example, did you know that most new home buyers hate buying a home with a pool? It can cost thousands of dollars annually to maintain a pool.

And it will cost a lot more than that for a new homeowner to remove it.

Also, pools can be absolute nuisance magnets for a homeowner.

Your neighbors, restless neighborhood kids, and complete strangers walking by may surreptitiously invite themselves when you are not around.

If someone hurts themselves or dies in a pool, even while trespassing, a pool can also become a lawsuit magnet.

So, make sure you mention in your ad that your home has a pool. Or, strategically search online for homebuyers looking for a pool.

Instruct your realtor to target house flippers and real estate investors if your property is in poor shape or requires renovation.

There are many homebuyers and companies looking for properties to aesthetically improve to later inflate profits. Research such potential buyers.

You may find prospects willing to pay for your home on your terms.

This process will probably require a lot of time sacrifice and the need for attentive online searching skills.

You could even hire people part-time to help you research or recruit home buyers.

It will be worth it.

Make a detailed list of target buyers you may be able to persuade relative to the selling appeal of your property.

Know who you are selling to and how to reach them. That is the best way to sell your home for more money.

Speaking of which, the best way to screen potential home buyers to your advantage is to hold a property viewing.

Just do it in a strategically aesthetic manner.

Create a Neutral Aesthetic for Home Viewings

A lot of home sellers lose the sale long before they realize it after opening their home for viewings.

Before you open your home for viewings by potential sellers, remember to make the internal décor neutral.

Take down family pictures and any signature furnishings. Store collectibles, art, and stylish curtains in the basement.

Your vintage, antique vinyl record collection, for example, should be moved to a storage unit long before scheduling a viewing.

Why?

You don’t want potential homebuyers to see you, your family, and your life during a viewing.

Your home should have minimal furnishing to allow the potential home buyer to see themselves living in your home in the future.

During a home viewing, the potential home buyer should be able to mentally project themselves living in your home.

That is hard to do, and hard to make a sale, if they are looking at your family photos and lived in furnishings.

Potential home buyers may feel like strangers in someone’s home, and not like potential home buyers.

If you want to sell your home for more money, you must make potential homebuyers feel like they have viewed their new home before they buy it.

That can only happen if you make the aesthetics of your home look as pleasing but as neutral as possible.

And that brings me to my next point – get rid of the wall-to-wall carpeting.

Remove Your Carpeting

Carpeting is an American in-door aesthetic tradition for many homeowners. In fact, almost 50% of the business flooring market in the United States is based on rugs and carpeting.

The average carpet costs about $1,800 per 300 square feet.

Because of the proclivity for mold and dirt to destroy carpets, you must get them cleaned regularly.

The typical carpet cleaner charges by square feet or by the room. So, you could pay up to $75 per room or $300 per 1,500 feet.

Because of the financial maintenance responsibilities for carpeting, and realities of natural wear and tear, you may need to replace it every 5 to 15 years.

There is no doubt about it – maintaining a wall-to-wall carpeted home.

So, why do you think a potential homeowner will want to deal with such maintenance hassles.

Unless you know your potential buyers are interested in such, it’s a big assumption to make.

Carpeting is such a personal aesthetic choice to make for a homeowner. And its never good to assume that your aesthetic style choices are interchangeable with others.

Have you ever visited someone’s home and noticed they owned gaudy-colored, deep shag carpeting like a 1970s style refugee?

Now imaging showing a potential homebuyer your own lime green shag carpeting during a property viewing.

You may be better off removing your carpeting and having your hard wood floors underneath professionally cleaned.

Hard wood floors give off a neutral habitat aesthetic and will help you sell your home for more money.

They also offer a visual invitation for a prospective homebuyer to project themselves living in your home.

Time to Repaint Exteriors and Interiors

Prospective home buyers are an extremely fickle-minded bunch. Keep this in mind if you want to sell your home for more money.

Did you know that home buyers are visually repulsed by certain home interior and exterior color aesthetics?

Bold, brash, customized, and eye-popping primary colors are not popular with most home buyers.

A 2013 National Home Color Survey found that home buyers favored 6 neutral colors, especially on exterior walls. These colors include:

  • Beige
  • Black
  • Gray
  • Taupe
  • Slate
  • White

Make sure you paint your front door black and your exterior walls a pleasing shade of yellow.

According to a 2018 Zillow study, home sellers made $6,271 over their selling price if their home had a black-colored door.

Paint your exterior walls a light, creamy, or warm shade of yellow and you might make $3,408 over your initial selling price.

Paint your living room a light taupe shade, or a tan hue of pink or peach, and you might make $2,800 over your asking price.

Aesthetics mean everything when you want to sell your home for more money.

Depending on the size of your home, a full exterior and interior paint job can cost $4,200 at the minimum.

Neutral tones mean everything if you want home buyers to psychologically project themselves in your home.

Update Your Landscaping

A homebuyer will notice your landscaping before even seeing your house. So, if you need to freshen up your curbside landscape, invest in an aesthetic update.

A professional landscaper may cost you $50 to $100 per hour. Depending on your curbside flowerbed space, that could cost you hundreds or thousands of dollars.

You can save yourself a lot of money and spend a weekend removing flowerbeds yourself. Then just replace it with a fine even layer coating of fine, new mulch.

Remember the profitability of neutrality.

A curbside neatly arranged with fine mulching will allow the homebuyer to mentally project their own future flower bed project.

And, it will cost a lot less to do that yourself then pay landscapers.

Reassess Why Buyers Would Want to Buy Your Home

Don’t get the idea that just putting your home up for sale means it will automatically sell.

The real estate and housing market are notoriously volatile.

It takes up to 3 months to sell a house in the best of economic circumstances. It isn’t out of the question that you may end up waiting months or years trying to sell your property.

Research your potential buyers to the best of your ability. Game the system to your benefit as best you can.

The typical home sold for $330,600 in July 2020.

Don’t leave the potential for maximum home selling profitability to chance.

Not in these difficult economic times.

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3 Companies In Need of Remote Workers Right Now

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I was quarantining long before the phrase, “social distancing,” became a commonplace term in early 2020.

I’ve been working as a remote worker for over a decade now. Its lonely work. Telecommuting requires a lot of time sacrifice.

Also, you have to treat your home like a business office if you want online clients to pay you.

Before 2020, telecommuting was a growing fringe concept.

Now, over 41.6% of all jobs in the United States are telecommuting positions.

And, over 54% of Americans now want to work from home for the foreseeable future.

Telecommuting is now the future of business. So, I will be listing prominent companies offering telecommuting work in future posts.

If you are a teacher, academic bureaucrat, lawyer, IT specialist, or ever worked for a music company, here are few remote working opportunities waiting for you.

K12

K12 is online provider and facilitator of online curriculums, lesson plans, and remote instructors.

This online education company was launched in 2000. K12 has been providing quality remote learning services 20 years before the pandemic.

Now, the company had many job opportunities for remote teaching during the pandemic. Keep in mind that you may need to be a credentialed high school teacher in your state of residence to qualify.

K12 is offering remote job opportunities like:

  • Student Attendance Officer
  • High School Spanish Teacher
  • Special Education Instructional Coordinator
  • CPA Part Time- Special Education Paraprofessional
  • Dyslexia Specialist

Achieve Test Prep

Achieve Test Prep is an advance test prep company, remote academic instructor recruiter, web developer, and remote academic service provider for a variety of services.

Achieve Test Prep is currently advertising for several telecommuting job positions.

These telecommuting job vacancies include:

  • Science Recruiter
  • Humanities Instructor
  • Dental Hygienist Instructor
  • Sales Representative
  • Business Development Manager
  • Customer Retention Manager

If you are not American, Achieve Test Prep also has multiple remote job vacancies for international job seekers.

As long as you qualify, you can work from anywhere in the world.

Fender Musical Instruments Corporation

Fender is an iconic music instrument company that was founded in 1946. Fender guitars helped to shape the sound of Jazz, Pop, and Rock and Roll throughout the 20th century.

If you have ever listened to any kind of music featuring a guitar, chances are good a Fender guitar was involved.

The company is now offering several high-level remote work opportunities. These remote work vacancies include:

  • Senior accountant
  • Senior Salesforce Commerce Cloud Engineer
  • IT Senior Developer
  • In-House Attorney for Intellectual Properties
  • Music Licensing Manager
  • Gear Advisor

It should be noted that the company is also offering numerous in-office positions in the states of Arizona and California.

Keep Trying

It takes time to transition from in-office work to telecommuting.

Consider taking some certification and training courses on online educations sites like edX. Many courses are offered for free.

Also, apply for as many remote positions as you think you qualify for. Many are being offered now and you are bound to qualify for something.

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IS IT BETTER TO FILE BANKRUPTCY OR DO DEBT CONSOLIDATION?

Checklist of Things to Do When You First Move in Your Home

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Move-in Checklist

Did you know that you could buy a new home now for $330,600 as of August 2020? In 2019, the average price of a new home was $400,000. If you are lucky enough to have bought the home you want at these prices, finalizing the paperwork is just the beginning of your work. You should have a move-in checklist to optimize how much you can get done within the several days it will take to move in.

Move-in Checklist Basics

So, here is a checklist of things you should do on moving day and even before moving into your new home.

Keep in mind that this is a basic move-in checklist for you to consider.

You may need to remove or add items on a personalized checklist as it relates to your current circumstances.

Deep Cleaning

You would think that unpacking would be the first thing to do on your move-in checklist.

However, before you even start moving in your belongings, you should start a deep cleaning of the house.

Invest in soap, sponges, washing rags, mops, disinfects, bleach, cleansers, and other cleaning products before the big move.

Then spend a day or two cleaning your new home thoroughly before boxes, furniture, and belongings arrive.

This is a good idea to do early on so you’re not trying to clean around or move new furniture and appliances later.

Move-in Checklist

Dust, sweep, and clean out every nook and cranny. Clean out the stove, oven, fridge, and any other appliances present.

Scrub out the kitchen sink and all bathroom surfaces. Don’t bother cleaning the toilet seat – just get a new one.

Plan out sections of the home to clean and take it one area at a time. A deep cleaning will help make the place feel new, clean, and ready for move-in day.

Source New Contractors and Professionals Via Neighbors

Take a break from unpacking and make a point of saying hello to the neighbors.

On top of being neighborly, you want to network and make friends who refer you to local businesses and contractors.

For example, you are now in the market for a new mechanic, plumber, dentist, barber, and so on.

Check up on any referrals yourself, don’t just take what you hear for granted.

Update Your New Address Status Officially and Personally

Start updating your new address status officially and personally weeks before you move into your new home.

Contact your local post office to have them forward your mail and periodicals to your new address. Most post offices will forward mail for up to a year.

Next, you will need to make government services, financial institutions, creditors, and so on, aware of your new address.

Make sure your bank, credit card company, or credit union is aware of your new address.

Get a new driver’s license and/or state ID. Update your vehicle’s registration and insurance if your moving to another state.

Update Social Security, or other government benefits, about your address change online, via phone, or office visit.

Make sure your personal doctor and pharmacy are updated about your home address.

Do you shop online often? Visit every online retailer you’re registered with and update your address.

Make sure your family, friends, acquaintances, and employer are updated with your new address.

Move-in Checklist Priority – Update Your Security

Updating your new home’s security should be in the top 3 of your move-in checklist on day one.

Changes all of the locks. Don’t dilly-dally on that point, get it done on day one.

Install an aesthetically pleasing steel security door screen gate or door guards on your front and back doors if needed.

Check all of your windows to make sure they are secure. You may need to install window gates.

Look for any weaknesses in the security of your new home.

Strategically Prioritize What to Unpack

Moving into a new house can be an exciting but overwhelming experience. The need to do so many things can cause a stressful, paralyzing effect.

Unpacking is pretty much the first thing to do on a move-in checklist. However, there is no need to be overwhelmed.

Depending on the size of your new home, you may a need a few days to get everything unpacked. So, think strategically – prioritize what you need to unpack now.

Unpack everything you need for the kitchen, bathrooms, and bedrooms first.

You need to eat. And, you will need to shower and clean yourself off after a long day of unpacking before going to sleep.

Maybe then you can put up some curtains, lay some rugs, and add a few other decorative touches and flourishes.

Start unpacking the essentials and everything else will follow.

Get Your Utilities Set Up

When I moved into my first apartment, it was a sublet in a private home. So, I had to get my own utilities set up in my own apartment separate from the homeowner.

The previous resident left without paying their last outstanding energy bill payment. To make matters worse, the energy company representative I spoke with on the phone decided I was that resident trying to dodge the bill.

I had never moved anywhere before and it was a big hassle. Finally, I had to go to the main office for the energy company to get the matter settled.

If I had spent a few weeks getting those utility matters settled before moving in, it would’ve been a less stressful situation.

Getting your utilities set up (and there will be more than one) before moving in should be high on your move-in checklist.

Try to Set Up Utilities Before Moving In

You should try to set up utilities in your new home 14 days or more before you even move in.

Why?

Depending on where you live, you may have to set up utility accounts for:

  • Electricity
  • Gas
  • Sewer
  • Trash pick up
  • Water

The utility company has no idea that someone new has moved in unless you or the previous occupant informs them. Even then, the wheels of bureaucracy move very slowly.

If you are moving close to your previous residence, call before you move. You may be able to call beforehand and transfer your utility service.

If you are changing utilities, call up the previous provider and supply them with your new address. You may have final bills that overlap your move-in checklist period.

In the worst-case scenario, you may need to set up a new utility account with a new utility company. (Or perhaps multiple new utility accounts.) You really want to get started on that weeks before you move in.

On move-in day, make sure that all your utilities are operational and running. If you have problems on day one, call the utility company and don’t let issues like that linger.

Customize Your Move-In Checklist

Depending on the size of your new home, the quantity of your move-in checklist duties will vary.

Don’t be overwhelmed.

Make a list and prioritized what needs to be done and unpacked in a sensible order according to your preset needs.

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Card Cracking Fraud Makes You an Unwitting Criminal

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The infamous East Coast/West Coast rap feuds of the 1990s did not start with Biggie and Tupac. The rap feuds of that era was actually ignited by a lesser-known rapper. Timothy Blair, AKA Tim Dog, was a regional rap star from the South Bronx who actually started that infamous rap feud. Music history may have forgotten Blair, but not criminal history. After failing in rap, Blair became a scam artist and bilked over $2 million from dozens of victims. Blair allegedly engaged in card cracking fraud as well. (Blair died in 2013).

Another aspiring NY rap artist, Young Ash, reportedly stole $50,000 via card cracking fraud in 2018.

Now, “notorious street rapper resorts to crime,” may not be a shocking headline.

What is shocking about card cracking fraud is that this scheme entices average people to become unwitting criminals.

Most card cracking fraud schemes involve online scam artists enticing everyday people to become accomplices to fraud.

According to the American Bankers Association, almost $12 million dollars was stolen due to card cracking fraud in 2014.

 

Card Cracking Fraud

 

You don’t have to be a rap star to be involved in a card cracking scam.

The typical American household owes over $137,000 in debts. The allure of card cracking fraud as a, “victimless crime,” can temp anyone – not just street rappers.

Over 60 million Americans applied for unemployment benefits since March 2020. Tens of million face imminent eviction in the weeks and months to come.

In this pandemic-wrecked economy, you should be aware of card cracking fraud.

Odds are better than even that card cracking scam artists look for people like you to enable their efforts.

Card Cracking Fraud 101

Card cracking fraud, also known as card popping, is a mutual effort crime that requires two parties working together.

However, the scam artist holds all of the power and information.

Card cracking scam artists take advantage of people who are financially hurting and looking for quick cash.

Card cracking accomplices, potentially people like you, don’t consider the consequences of their actions in such scams.

Card cracking is an enhanced form of check fraud. The difference is that the card cracking scam artist needs the help of the, “victim,” you, to pull it off.

A Card cracking scam sends you a phishing email or social media message promising easy money. This message is a carrot on a stick to people who are financially hurting.

After you answer, the scam artist befriends you. If you give them direct access you your bank account, they can make you easy money and give you a cut.

For a card cracking scam to work, you must give the anonymous scammer your bank account number, PIN, and other information. You must willingly give an online stranger the keys to your personal finances.

The anonymous scammer will deposit fake checks into your account and then withdraw that amount. Or, even more. Since they are assuming the most risk, they keep most of the money.

After withdrawing the money, the scammer may send you 10% or 20% of what they withdrew via wire services.

You must then call your bank and lie to them. You can say that your bank card was stolen. Or that your identity was stolen. This action makes you an accomplice.

Then, the bank may reimburse all the money that was, “lost,” to you. Or, simply close the account without penalizing you.

Who would do something like this? And why?

Card Cracking Fraud Accomplices

It may be comforting to believe that only hardened street rappers and criminals engage in card cracking fraud.

The truth is that those people are usually the leaders of crack cracking rings.

The other hard truth about this crime is that the victims are unwitting accomplices deluding themselves they are doing nothing wrong.

According to the American Bankers Association, most card cracking fraud rings target:

  • Social media users
  • People aged 19 to 25
  • College students
  • Single parents
  • Newly enlisted active military personnel

Everyday people who may be financially struggling are sometimes easily enticed by card cracking fraud.

They may rationale that since their own bank account is involved, it may be a victimless crime.

Why You Must Refuse Card Cracking Solicitations

If a card cracking fraud scheme needs you to victimize your own bank account, what is the harm?

Well, you can cause a lot of harm for yourself and others.

Card cracking rings don’t develop overnight. These scam artists need to entice hundreds or thousands of people to give up their financial information. Card cracking rings are built by enticing one person like you one at a time.

Why would you trust an online stranger with your most sensitive financial information? Would you surrender this information to a good friend or relative?

Also, you are engendering a lot of trust in an online stranger card cracking scam.

The card cracking scam artist has all of your personal information and the power.

If you deposit $20,000 in a new account in the future, how do you know they won’t take it? If they have your Social Security number and other financial information, it wouldn’t be hard. How do you know they won’t steal your identity or sell it to someone else? Do you think the anonymous scam artist wouldn’t do that to you?

Your bank may flag your account as a possible fraud risk. This information can be passed to other banks. It may even end up on your credit history.

Imagine if a card cracking ring is busted and the police discover your name on their lists of associates? You won’t be viewed as a victim and will have a lot of explaining to do then.

Life is hard, no question about that.

Giving into the allure of a card cracking fraud scheme will only make life harder.

Don’t Respond to a Card Cracking Solicitation

Don’t respond to any message asking you to give up all of your financial information in exchange for a kickback.

Card cracking scam artists try to make it seem as though you are partners in a harmless scheme. Well, if you were partners, you would know the identity of this person.

Card cracking scam artists could live down the street or be foreigners from a different country. You would never know. Meanwhile, you must trust this person with your most sensitive financial information.

Card cracking fraud leaves you perpetually vulnerable. The scam artist knows everything about you and could use this information to their own ends in the future.

Even if you did this once, how could you not be paranoid for the rest of your life? If the scam artist has your name, address, and Social Security number, they could check to see if you’ve opened new accounts. You will probably be checking your online balance constantly.

Personal suffering is usually caused by willful ignorance and desire.

If you convince yourself that there are no victims in card cracking fraud, you may be in for a lot of suffering.

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I Use Free Online Courses to Refresh Telecommuting Skills – You Should Too

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Learning new things does not become impossible as we age – it only becomes more difficult. Young children are more adaptable mentally when it comes to learning new things.

In fact, the human brain only stops growing and becomes fully formed at around age 25.

As adults, we almost must learn how to learn all over again.

That’s because as we get older, we get set in our ways and develop time-consuming adult responsibilities.

And, there just never seems to be enough hours in a day.

Over 36 million Americans have applied for unemployment insurance since mid-March. Since many have reported being unable to access the stressed application system, 36 million may be a massive underestimation. The stark truth is that many will remain unemployed for a long time to come.

Well, having enough hours in the day to burn isn’t really a problem for most people anymore.

Now, every state is reopening for business, even though public health experts fear secondary and tertiary waves are almost a certainty.

As half of workers turn to turn to telecommuting, most, “nonessential,” workers were quarantined.

Now as quarantine restrictions loosen, many nonessential workers have no job to return to.

Worse, as long as COVID-19 is a threat, future job prospects will diminish significantly.

The best way to improve job prospects in this cruel new world is by taking some online courses.

Getting Certification for a Better Future

I used to work in academia. My specialty was working with returning students, or, adult, middle-aged students specifically.

Then, I got divorced, lost my job, lost my apartment, and worse, had to move back home with my ailing mother.

This was about a decade ago, long before the world turned into a really bad or really good Stephen King novel.

I spent a long time lost in depression and doing nothing. I was very capable of freelance writing then, but it would take a few more years before I took that seriously.

Around 2013, I spent a season couch surfing through Europe. During that time, I spent several weeks taking an online course to attain a TEFL/TESOL certification.

Its basically an online certification course that would allow me to teach English in foreign countries. I paid $100 for that course.

I never made use of the certificate, but I remember taking that online course now that so many people are out of work.

Since there are so now many free, legitimate online courses for adults, I’s going to take a few to refresh my skills.

That is because many new jobs may require you to learn new skills or get upgraded certifications.

Learning new skills help differentiate you from competitors too.

Over 6.6 million Americans were engaged in academic remote learning in 2017.

Free Online Courses Via Coursera and EdX

Coursera is a renowned educational website that also offers free access to important courses to adults.

Until May 31st, Coursera will offer free online courses on COVID-19, global pandemics, and emergency responses to global pandemics.

Or, you can take free, specialized writing courses for adults from Yale, Wesleyan, or Michigan State University.

At the online education site EdX, you can take courses on computer science or computer programming offered by Harvard and the University of Pennsylvania.

You can also learn a new language, corporate finance, psychology, or enroll in other numerous free online courses.

Learning new skills can only help you stand out more when applying for new work. That was always true, pandemic or no.

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“If You’re Asking, you can’t Afford it!” Where home Ownership is Cheaper than Renting

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“If you have to ask the price, you can’t afford it.”

I always assumed this phrase is something one would say to another about their naivete concerning ignorance of differentiating between need and want.

However, this phrase goes a little deeper in terms of meaning for me.

It is always unwise to get in over your head by blindly pursuing a dream you know you can’t afford.

For example, I have always wanted to own a house in San Francisco since I was a child and watched Ted Knight on the sitcom Too Close for Comfort (I was like 6 at the time).

How many of us have recklessly pursued such interests in the past? And, suffered financial consequences that are still being paid for even today?

Isn’t amazing how stubbornness and desire can affect our lives until we have no choice, usually through the impact of financial trauma, to become realistic.

During college, I actually planned with a friend to move out to San Francisco. I even went for a visit and got face-slapped with financial reality.

Home ownership in San Francisco in any decade – the naively unattainable dream.

The cost of a home in San Francisco has increases by over 557% since 1986.

The average price of a home in San Francisco in 1995 was about $160,000. That equates to over $270,800 in today’s money.

The point that I am getting at is that it’s better to accept financial reality now than significant debt later.

I mean, did you know that there are many cities where the average mortgage payment is cheaper than rent?

Realistic research methods and accepting need over want can do wonders for one’s financial life.

Easier said than done? Have you or anyone you’ve ever known had a car repossessed or a home foreclosed on?

Home Sweet Reality

I had a relative who had a near mental breakdown when his car got repossessed. He relishes in an identity as that of a driver in a new car.

And before you ask, no, he couldn’t afford it. But he obviously asked for it at a price that he knew he couldn’t afford.

People do the same things when it comes to home ownership.

Affordable, perhaps, on an entry level salary?

I was obsessed with the idea of owning a home in San Francisco, or somewhere in California, for a lot longer than I should have.

Renting was out of the question, since the average rent for an apartment in San Francisco is $3,500.
Then, when I accepted I couldn’t afford a home, I did the next worst thing.

I rented a studio apartment in New York City for over a half a decade.

When buying a home, you must think about how much of your annual income will be dedicated to the mortgage.

Such a percentage is greater in some cities more than others.

In New York City, the average homeowner must use over 115% of their income to buy a new home.

Meanwhile, the average renter only needs to use 30% of their income to rent an apartment.

I should have spent that time rehabbing my credit, saving money, and considering my mortgage options.

And, I should have looked at cities where home ownership is affordable. There is nothing wrong with buying a starter home, or, being realistic about what one can afford.

With that in mind, here is a list of cities where owning a home is cheaper than renting an apartment.

And for appreciable context, it’s helpful to remember that the average rent for a one-bedroom apartment is $1,250.

Columbus, Ohio

The property tax in Columbus is about 1.57% and the average mortgage payment is about $1,160. Meanwhile, the average monthly rent is about $1,200. The average price of a home in this city is $190,000.

Anaheim, California

You’ll pay about a 0.72% property tax in Anaheim. Homes in California aren’t known for cheapness, so be prepared to pay at least $608,000. However, the average mortgage payment is $2,760 against an average $2,820 rent.

St. Louis, Missouri

The average price of a home in St. Louis is about $177,000 and the property tax is about 1.40%. You’ll pay an average $870 mortgage against a $930 rent here.

Indianapolis, Indiana

In Indianapolis, the average price for a home is $150,000. While the property tax varies, it could be as little as little as 0.87%. The average rent is $1,140 and the average mortgage is $940.

Memphis, Tennessee

You can get a home in this city for about $105,000. In Memphis, the tax rate is about $3 per $100 of property value but varies from county to county. The average mortgage is about $650 and the average rent is $850.

Baltimore, Maryland

The difference between paying rent and mortgage in Baltimore, Maryland can be over $300 under the right circumstances. You’ll pay about $111,000 for a house here and the property tax rate is about $2.25 per every $100 of value.

The average rent is $1,290 and the average mortgage payment is about $980. You’ll save almost $3,700 annually owning a home over renting here.

Know the Price

If I knew then what I know now, I would have tried to buy a home in Baltimore over a decade ago.

I want to go back in time, tackle my younger self, and slap him until he promised to take affordable home ownership properly.

According to the Mortgage Bankers Association, over a quarter of a million homes are foreclosed on in the United States every season.

We don’t always get what we want in life.

And, if you really have to ask, “How much?” then you may want to wait a little longer on negotiating that mortgage.

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How to buy a home Without an Agent

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If you want anything done right, you must do it yourself. Right? Well, you should be competent, well-researched, and know what you’re doing. If you’ve never held a wrench in your life and endeavor to change the kitchen sink pipes after watching a YouTube tutorial once, then all you’re doing is making a prospective plumber richer instead of saving money. The point is that you could create an unavoidable mess. Like, buying a home without an agent.

The average realtor earns a 5% to 6% commission fee against the sale value of a home they facilitate selling.

According to information compiled by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, over 681,000 homes were sold in the United States in 2019.

The average selling price of a home in 2019 was $384,000.

So, a realtor charging a 6% commission for the sale of a $384,000 home can make $23,040.

That’s a nice fee for just facilitating a sale.

Also, realtors can make more money against a home sale in other ways.

Realtor Fees

Realtors could conceivably charge extra fees for processing, paperwork, facilitating the processing logistics between mortgage lenders, buyers, sellers, and so on.

So, when accounting for all of a realtor’s possible fees, you’re going to spend well over $400,000 just to buy a home.

(However, the realtor’s commission could also be paid out of the home’s equity value, if applicable. But that is only possible if you know about such things – more on that later).

When you look at it like that, you’re bound to save tens of thousands of dollars buying a home on your own.

Maybe you can do better buying a home on your own. After all, almost a fifth of all licensed realtors only acquired their operating license within the last year.

Right?

Well, maybe.

A home sale is a legally binding transaction involving contracts. You could be sued by the seller if anything goes wrong during or after the sale.

If you don’t know what you’re doing, you may end up losing and/or spending more money than you would have with the help of a realtor.

Buying a home Without an Agent? Be Prepared to Work

According to the National Association of Realtors, about 8% of home sales in 2016 were facilitated by FSBO transactions, or, “For Sale By Owner.”

So, yes, you can sell or even buy a home without the aid of a real estate agent.

However, it’s a complicated, technical, and months long process involving a lot of paperwork

The average home is on the market for at least 68 days. Your life and personal circumstances are not part of the statistics of such averages, so buying a home on your own terms might take longer.

If you’ve made the decision to buy a home on your own, you’ll need a lot of patience, time, and research prep work.

Also, keep in mind that just because you’re buying a home without an agent doesn’t necessarily mean that the seller doesn’t have one.

The bane of almost all home sellers is dealing with buyers without realtors, who’re unprepared, and don’t know what they’re doing.

You don’t want to give the impression that you’re wasting a seller’s time and/or making things up as you go along during negotiations.

Additionally, you’re at a logistical disadvantage if the seller has a realtor (just assume they will).

The seller’s agent will have years or decades of experience they will bring to the deal.

This experience benefits the seller and their agent’s motivation to earn a commission more than your desire to buy a home on your own terms.

Always remember, a home sale is a legal transaction. What you don’t know could end up costing you financially and legally if you aren’t careful.

Here are just some of the things you must do to buy a home without a real estate agent.

Research Prices and the Market

Research the market in the neighborhood, or neighborhoods, that you are considering buying a home.

Do the neighborhoods you’re considering have the life amenities, like preferred schools, shopping centers, work opportunities, that you’re looking for?

What are the average prices for homes in these neighborhoods? If you understand the real estate market prices for the home you want to buy, you could have negotiating room to pay a price nearer to your own terms.

Decide on your buying budget and try to stick with it.

Choose Some Prospective Properties

In life, we don’t always get what we want. Talk to some prospective sellers and feel them out. Go to some open houses, check out some houses, and talk to some sellers.

After you have done your research, make a list of 3, 5, or 10 houses that you may want to buy.
Prioritize which home you’ll pursue according to your interactions with the seller.

Get Preapproved for a Mortgage

If there is one thing that sellers, and their realtors, hate, it’s having their time wasted.

You’ll look a lot more serious and professional if you’ve already been preapproved for a mortgage.

Look at it from the seller’s point of view – who do you think the seller would prioritize their negotiating time with? A buyer without an agent asking questions to learn the process as they go along or a buyer without an agent but with a mortgage looking to make a deal?

Get Seller Disclosure Statement

This is basically a list of issues or problems with the home. For example, you want to know if the home has problem like:

  • Rodent or infestation problems
  • Remodeling, repairs, and rehabilitation history
  • Water damage and mold issues
  • Issues with plumbing and electrical systems

If the house you are buying was built before 1978, then the seller is legally mandated to inform you if any part of the house was painted with lead-based paint.

Beyond that, whether or not the seller must be totally honest with you concerning a disclosure depends on whether or not you live in a, “caveat emptor,” state.

“Caveat emptor,” basically means, “buyer beware.”

If you live in a state without caveat emptor a legal mandate, then you must ask specific questions of the seller concerning the property in question. However, you must know what to ask in the first place.

Hire a Licensed Home Inspector

A home inspector will inspect the property and look for any issues or problems that the seller may be keeping from you or may not know about.

Hire a licensed and certified home inspector based on recommendations from a trusted source.

Don’t try to buy a home without getting the input of a home inspector. If you buy a home unaware of problems or issues not revealed beforehand, then you’ll be stuck dealing with it financially.

Plus, if you didn’t ask the seller about these issues in a caveat emptor state, you may not have legal grounds to sue.

Even if you do, you’re just paying more money for a lawsuit that might have been better spent on a realtor.

Assess All Closing Costs

Real estate closing costs are all of the fees associated with numerous finalization processes required to close a deal.

The kinds of closing costs you’ll be required to pay depends on the state and city you live in.

Having a lawyer helps a lot.

Hire a Lawyer

I keep coming back to the need for a lawyer for a reason. A real estate transaction is a legal process.

These are some of the documents and paperwork required for the processing to sell a home. Assume that the seller and their realtor are aware of the need of such documentation.

Are you?

Make sure you have a lawyer looking over the paperwork throughout the process and before signing any contract.

You want to buy a home with a realtor. Fine. Don’t try doing so without a lawyer on your side.

Invest in Time, Research, and Patience

This site has some general tips on how to buy a home without an agent. Use it as a starting point to learn more about the subject.

Remember that this process will take a personal investment in spare time, patience, and meticulous research. This is not something you’ll be able to do in a weekend.

Get advice from a real estate professional if possible.

Most of all, try to remember to buy the home you need, and not necessarily the one you want.

You’ll make better prioritization and negotiating decisions that way.

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Here’s How to Remove Relatives From Your Will

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Did you know that over 60% of Americans don’t have a will prepared for the eventuality of their own passing?

About 78% of Millennials, or people aged 18 to 36, don’t have a will. Meanwhile, about 64% of the Generation X demographic do not have a will either.

Why should you have a will prepared before your inevitable passing? Well, there is the financial reality your surviving relatives must deal with state and inheritance taxes after your passing.

Still, the federal estate tax kicks in only if your estate is worth about $12 million. In such a situation, the federal government can tax up to 40% of your estate.

Not a millionaire or a celebrity? That does not matter. There are 18 states that levy a posthumous estate and/or inheritance tax

Massachusetts and Oregon can levy as much as 16% on estates with a value over $1 million.

New Jersey doesn’t have an estate tax, but it does have an inheritance tax. This state can tax up 16% on inheritances valued over $500 depending on the inheritor.

Depending on where you live, you don’t need an exorbitantly valuable estate for it to be generously taxed by the state.

The most important reason to have a will however is to designate who you want to exclude from it.

Exclusionary Wills

Expressly excluding relatives from your will isn’t about cruelty.

It’s about exercising prudent personal finance protection.

Many of us have close and distant relatives we are estranged from and don’t speak to.

After your passing, and during the probate process, all of your estranged relatives, former flames, separated spouses, and divorcees, could all come to legally fight over your estate.

So, to financially and emotionally protect your preferred heirs after your death, it might not be a bad idea to exclude specific relatives from your will.

Even after excluding people from your will, there are many legal methods you can use to enforce that exclusionary will.

How to do this? You can do it on your own or very affordably with the help of a lawyer.

The Legalese

An estate tax is a predetermined tax on your estate, meaning property and assets, over a minimum threshold.

If your estate is worth over $11.58 million, then the government can tax it by at least 40%.

Most states tax estates by as much as 20%.

An inheritance tax is levied by states only. This is a tax on the value of the inheritance according to who inherits it.

Only 6 states levy an inheritance tax and it usually doesn’t go above 16%.

If you die without a will, your estate will be distributed according to the state court among your beneficiaries.

This process is called probate court. A judge will appoint an executor of your estate who will notarize your assets, decide who your beneficiaries are, and decide who gets what.

Every state has its own probate code, but this is the process in general terms.

If you don’t exclude specific people from your will, then they could show up during probate proceedings, cause chaos, and try to get a piece of your estate at the expense of your loved ones.

Here is an example.

Celebrities Without Wills

Noted celebrities like Prince, Kurt Cobain, Aretha Franklin, James Brown, and others, allegedly passed away without leaving behind a will. Sherman Hemsley left behind a will with an unmarried partner as the sole beneficiary. This left open legal loopholes for it to be contested.

If you want to understand the importance of writing a will, and the significance of specifically identifying who you want included and excluded from such, then just think about some famous celebrities who passed away without one.

Sherman Hemsley, the famed comedic actor known for starring in legendary TV comedies like The Jeffersons and Amen, died of cancer in July 2012.

Hemsley’s remains laid in a funeral home freezer for more than a month after his passing.

A man claiming to be Hemley’s long-estranged brother contested a will that Hemley prepared only a month prior to his passing.

Hemley had no children and never married in his lifetime. He left his estate to his partner and long-time business manager Flora Bernal.

This created a situation where anyone claiming to be Hemsley’s relative could contest the will.

The alleged relative contesting Hemley’s will had the legal motion thrown out in court in 2014.

Enforcing a Will That Excludes Relatives

A famous comedian once said that when there is a will, there will always be lots of relatives fighting over it.

Some relatives may hold long-term grudges. Others may feel entitled. There may be resentment against an older parent remarrying again late in life.

Long estranged relatives and non-related acquaintances may be down on their luck and strike when opportunity presents itself.

Whatever the reasons, here are ways you can exempt relatives from a will.

Or, more exactingly, legal ways to enforce excluding specific people form your will.

 Survivorship Property Rights

If you have investment accounts or jointly held bank accounts or real estate, they can be legally declared as having, “rights of survivorship,” protection.

After your passing, such property and assets can be expeditiously transferred to named beneficiaries only.

Creditors, legal contests, and probate courts can’t touch it.

Set Up a Trust Fund

Trust funds designate who are your beneficiaries, what they will inherit after your death, and how they will receive benefits.

You’ll need legal counsel to set one up, but it will be worth the cost. Trust funds are legally protected from probate court rulings.

Name Life Insurance Beneficiaries

Once you name beneficiaries in your life insurance policy, whatever you bequeath goes directly to those beneficiaries. It can’t be contested in court and creditors can’t touch it either.

Pension and Retirement Accounts

Once you name beneficiaries on your retirement account, benefits automatically transfer to them upon your death.

Prepare a Will Today

Your best defense to protect the beneficiaries and inheritors of your estate, and to dissuade legal contests of probate, is to have a will.

Prepare one as soon as possible and update it regularly.

Excluding specific people form your will is the easy part. Remember the legal methods of beneficiary protection you learned here to enforce that will.

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Keep All of These Things Out of Your Wallet or Purse to Decrease Identity Fraud Risk

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identity fraud

Over 14 million people were victims of identity fraud in 2018. According to the Federal Trade Commission, over 1.4 million people filed fraud complaints with the FTC.

Those $1.4 million complains represented over $1.5 billon in monetary losses. Well over 167,000 people reported credit card accounts being fraudulently and clandestinely opened with their personal information.

As depicted in action movies, you may think that all a cyber criminal has to do is hack your computer.

It isn’t.

Most criminals can steal identities through the simplest means.

Are you in the habit of leaving ATM, bank, and gas stations receipts and checks in your wallet or purse?

Then you are a prime target for identity fraud.

Fraud Advice from the “Catch Me If You Can,” Con Man

Frank W. Abagnale was an infamous con man who cashed over $2.5 million in forged checks. Abagnale was wanted in over 26 countries.

After cleaning up his act, he spent over four decades working with the FBI as a consultant to teach them how criminals steal identities so easily.

Abagnale operated at his peak in the mid-20th century. He recently told CNBC that criminals still steal identities in the simplest ways.

Like rifling through your mailbox or recycling bin for un-shredded mail and credit card offers. Or for mail that contains information like your date of birth and social security number.

All a criminal requires to open a phony bank or credit card account is your name, date of birth, Social Security number, and your address. Any other information that they can glean from your job and personal life from your mail helps them too.

Or, they can just rifle through wallets and purses left unattended at a party, function, church, doctor’s office, school office, or in a car with the windows down.

Identity theft is an opportunistic crime. Criminals don’t always have to steal your purse, or a wallet left unattended in your jacket.

They can just steal ATM and bank slips, or checks located in them, which are treasures of financial information

Never Leave These Items in Your Purse or Wallet

Consider Carole Crane, AKA, the Portland Creeper.

She led a gang of identity thieves who would, “creep,” or sneak in buildings, schools, elderly care facilities, places of employment, and doctor’s offices and pretend to belong there.

Then, they would steal wallets and purses, or, the receipts and personal information located therein. Later, they would open up phony bank and credit card accounts.

How many times have you left your purse or the wallet in your blazer unattended on a chair in church, the doctor’s office, at work, or in a school?

Crane and her gang stole over $200,000 from 50 banks and 50 individuals. She was sentenced to 10 years in prison in January 2019.

It doesn’t take the machinations of a cyber hacker living three states away to steal your identity.

Never leave these items in your wallet or purse:

  • ATM receipt
  • Gas station receipt
  • Social Security Card
  • Personal checks
  • Bank deposit slip

Vigilance is the Best Protection

You only need practical items like your driver’s license, work ID, car registration card, car insurance card, two or three credit cards, and cash or your person.

Get in the habit of clearing out the receipts that pile up in your wallet or purse.

Otherwise, you may as well leave a, “welcome to my identity,” note for potential identity thieves.

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