Increasing Home Value with Your Children – Projects and Funding Options

DIY Ideas for Home Improvements - Building with Your Children

The following is a guest post by Hank McKinsey, a stay-at-home-dad and home blogger at homebyhank.com. If you’d like to find out more about guest posting on Money Q&A, please read our Guest Posting Guidelines. Your home is more than a just a place to live. It is a financial investment. It’s easy to forget that any home project, from changing the wall color to installing new cabinets, can alter your home’s value. Ideally, each upgrade should increase the value and make your home more marketable.  Three fun and ‘kid friendly’ projects that can add to your home’s value and help you save money are: starting a garden, updating your doors and windows, and adding a reading or office nook to a … Read more

3 Reasons Not to Avoid Buying a Starter Home

Why You Should Buying a Starter Home

Recently, Consumer Reports reported that 75% of first-time homebuyers are planning to skip buying a starter home. Many future homeowners want to skip a step and purchase the home of their dreams. But, this can be a mistake. Buying a starter home can help future homeowners save more money for a larger home in a better area in the future. For many years, buying a starter home was the normal path to homeownership for young individuals and couples. But, that trend seems to be dying out. You Should Not Skip Buying a Starter Home Here are a few reasons why avoiding a starter home might not be a good idea. Starter Homes Are Stepping Stones Don’t look at buying a … Read more

Top 4 Tips for Homeowners Before You Consider Renting Out a Room

Tips for Homeowners Renting Out a Room

 If you’re a homeowner who wants to make some extra money but you don’t have enough money saved up to invest in a rental property just yet, renting out a room in your primary residence might be an option. Over one-third of Americans are renters, which means demand is consistent for non-homeowners seeking places to live without the burden of a down payment and mortgage. Tips for Homeowners Renting Out a Room Even if you only have one bedroom available, there are a few things to consider before renting out a room in your home: Host with Airbnb or Rent Long-Term? Millions of people love finding accommodations on Airbnb, and hosts even have the option of offering long-term Airbnb rentals. … Read more

4 Problems You Might Face as a First Time Renter (and How to Overcome Them)

4 Problems You Might Face as a First Time Renter

Moving out from the family home as a first time renter is an incredibly exciting, yet exhausting and stressful process for many people. Whether you’re a young college student or a professional who’s been living with their parents to save money, eventually leaving the nest and finding a place of your own is pretty much inevitable. However, taking out a mortgage right after leaving the parents’ home would be financially unfeasible for most people, which means your first independent living experience will probably be renting a room or apartment. Renting is becoming the “new normal” in America, according to a June 2015 story from The New York Times, and statistics compiled by the Joint Center for Housing Studies of Harvard University … Read more

Is It Ever Okay To Negotiate On Rental Prices?

Is It Ever OkayTo Negotiate On Rental Prices?

Is It Ever OkayTo Negotiate On Rental Prices?When it comes to renting an apartment, most people are happy to accept the list price, which has been good news for landlords over the past six years or so thanks to the US housing boom. But, is it every okay to negotiate on rental prices?

However, several analysts suggest that the market is cooling down due to a lack of demand and recent construction surges. As a result, landlords may be more willing to drop their rental rates, with some even offering concessions.

How To Negotiate On Rental Prices

But, even if it is now ok to negotiate on rental prices, how can you get the best deal? Well, start by identifying potential properties on Forrent.com before giving the following tactics a go.

Conduct some market research

After you’ve found a potential property, keep looking for comparable listings in the local area, pick out the cheapest options, and approach your landlord with this information. They might need to accept the fact they are asking for too much and consequently yield.

You can also cite the latest statistics on rental vacancies, which the US Census tracks on a quarterly and annual basis, breaking them down into municipal, state, and national trends.

Talk with the landlord face-to-face

Although you will want to stand firm with your negotiations, you must be as polite and friendly as possible too. This is much easier if you are discussing the rental rate with the landlord face-to-face.

Getting the landlord on your side and striking up a rapport won’t be as difficult in person either. Try to find out what they want in a tenant and convince them you are the ideal candidate before moving onto a discussion about the rent.

Read more

Dave Ramsey’s Baby Step 6 – Pay Off Your Mortgage Early

Baby Step 6 with Dave Ramsey

I wrote an overview of Dave Ramsey’s baby steps system from his book, The Total Money Makeover, and I have been dissecting each of his individual baby steps as well. Today, we’ll talk about baby step 6, paying off your mortgage early. The Total Money Makeover is a personal finance book that I highly recommend and one of the greatest personal finance books to read. Today, we will look at Baby Step 4 in more detail which is to invest 15% of your income for retirement. There are seven Dave Ramsey baby steps that you should follow in order that will lead you to financial peace. Dave Ramsey’s baby steps are… Baby Step 1 – $1,000 Emergency FundBaby Step 2 – Pay Off All Of Your Debt With … Read more