Are you in the market for a new home? If so, congratulations! Buying a new home is a major milestone and takes lots of well-thought out planning, financing, and preparation from moving out of your current residence to moving in to a new one.
After research online, working with a realtor, and viewing homes in person, you may start to wonder how you'll know if a home is the right one for you. Waiting for that "ah ha!" moment may not come as obviously as you may have pictured, so you'll need to rely on some other factors to be confident the home in question is "the one."
If the four items below fall in line, you can feel assured that the home you're thinking about is the one for you. While nothing will be 100% perfect, if you get most of the way there with each piece, home sweet home is right around the corner.
You Picture Yourself Living There
When you first saw the exterior and then walked inside the home, could you see yourself and your family calling the place home? Could you envision family dinners in the kitchen and tucking your kids into bed at night? What about BBQs in the backyard and hanging family photos on the walls? If you get that gut feeling, it means something.
Realtor recommends asking yourself, "Is the house the right size for your needs, and does it have the right combination of bedrooms, bathrooms and other living areas? If the house has two stories, are you comfortable with the idea of walking up and down stairs every day? Is the design and architecture of the house too modern or too traditional to match your preferences in furniture and home furnishings?" Be sure all aspects make the grade so you'll be happy with the home as a whole.
As per Sound Money Matters, "Would you feel proud having people over to this home? Can you imagine yourself coming home to the house and feeling happy? Can you see how you'd arrange your furniture? Then it's your house."
If you've looked at a number of homes and this one keeps coming back as your favorite or you find yourself using this home as the standard the others must match, then this home is a standout. Snap it up before someone else has the chance to ring the bell.
It's In Your Price Range
Of course, no matter how much you may fall in love with a particular home, if you cannot afford it, then there's no sense in pining over it. Plus, there's more to cost than the price of the home itself. As Realtor notes, "Are you comfortable with the monthly payments? Is the down payment within your means? Will you have enough cash to pay transaction costs and moving expenses? If the house needs major repairs, remodeling or redecorating, can you save the necessary funds within a reasonable time period?"
If you can answer "yes" to all of these questions, then you're on your way. Pre-plan as to not get your hopes up after finding a home you adore when it's clearly out of your price range. Work with your realtor to only look at homes you can actually afford.
Additionally, consider your status in life. HomeFinder advises, "There's nothing wrong with settling for a more modest dwelling that satisfies your immediate needs, before taking the plunge and spending more for your permanent dream home. The average home buyer stays in his or her home for a little more than six years, so allow yourself a chance for transition when the time is right."
A perfect home may be the one that's perfect for now. Another home may be in the cards a little further down the road.
It's In Good Condition
Unless you paid a lot less for a home than you'd planned to and set aside funds for renovations, your best bet is to choose a house that's up to par as is. Sure, you may want to make some changes to suit your personal taste, but if the place is falling apart and needs major work, you may have a real headache on your hands that can take months, if not years to cure.
As per HomeFinder, "First time homebuyers tend to underestimate the time and money needed for large remodeling projects. Adding a new bathroom, den or even sleek lighting fixtures not only costs a lot of money but can take you a while to complete. If you don't have time to update an older home, look for new construction springing up around the city and suburbs."
And Realtor suggests considering, "Does the house need a new roof? Extensive upgrading of the electrical wiring? New plumbing? Is the home disaster-ready? Will you be able to meet the financial challenges and live with the mess and inconvenience while the home is being brought up to your expectations?"
If you find a home that seems to be a great value, but then you need to put in tons of work, the deal may not be worth the future money you'll need to spend and the time the updates will take. Be sure to consider these factors before making a move.
Location/Neighborhood is Right
You want to be happy with your home, but you won't be totally pleased if it's located someplace that's not appealing to you. Bob Vila asks, "Is the house close to the places that are most important to you? Scout out the nearest grocery store, gas station, school, and place of worship — not to mention learning how far the house is from your workplace."
HomeFinder reminds you to choose a home that reflects your needs and personality. "Your lifestyle and how your prospective home fits into it, should be the main consideration in your decision to buy a home. Many couples with young children now choose their home according to which school district it's located in to ensure a good education for their kids."
Additionally, your neighbors will make a difference in how you feel in your new town. "A surprising study by Harvard political scientist Robert Putnam found that the more you have in common with your neighbors, the more likely everyone is to feel a connection to the community," as per Bob Vila.
As much as you love your new home, you will be stepping outside every now and then after all!
Are you ready to make your move? Now you'll know whether or not the home you're thinking of buying is right for you. It's time to open the door to your future!
The National Financial Educators Council (NFEC) surveyed young adults in 2017 and asked them what high school level course would benefit their lives the most.
The majority responded that money management was the course that would be most beneficial.
With personal debt is at its highest record and COVID-19 threatening to have the hardest economic effects on youth, understanding money and finances is an important life lesson that should be taught to children at a young age.
The following is a list of the best financial literacy lessons and tips to teach children throughout different life stages.
I thought I had a pretty good handle on my finances out of school. I worked several jobs while attending university and had little to no problem managing my income. However, once I graduated, I realized how much more complicated personal accounting could really be.
There were so many variables I needed to keep track of. Biweekly bills, monthly charges, and general necessities amounted to a heap of confusing numbers that were often impossible to decipher. The funniest part was that I was actually trying to do this by hand (I don't know what I was trying to prove to myself, either).
After messing up for the 17th time, I decided to give Microsoft Excel a shot. I used Excel a bit in school and I knew all the big-wig finance people used it, so what could I possibly have to lose? The answer is about six hours of my precious time. Excel isn't much of an improvement over handwriting and it's still dependent on the user to manually input all of the information. It's like doing everything by hand with the slightest help, meaning that it still required a tremendous amount of time and concentration. Well that was all for nothing, I guess.
It's sort of funny. I was certain that I could manage my personal finances with ease, when it's practically a full-time job. I was already stressed out enough with my first job and I knew I didn't have enough time to give my finances the attention it deserved.
That's why I decided to try out a budgeting app. My best friend told me that he uses an app called Truebill to manage his finances. "What does it even mean to manage your finances?" I asked him. He told me that Truebill was the personal financial assistant I wished I could have. It could aggregate all of my account information into one place and give me specific insights and actions.
I loved the idea of having full control over my finances, especially during a time of financial uncertainty, and I realized that Truebill would be the easiest way to accomplish this. The user interface is incredibly simple and intuitive, so it doesn't even feel like a finance app! Truebill offers a multitude of features, with their most popular being the ability to cancel subscriptions with the press of a button.
Okay, I had no idea how many subscriptions I was still subscribed to. In fact, I wasn't even using a quarter of the subscription services I was signed up for. Subscription boxes, streaming services, my old gym, and even an old subscription to my favorite magazine--it was all there and I was livid. How could I let myself waste all of this money and how did I never catch this? Thank goodness for Truebill.
Truebill also offers bill negotiations. There is a 40% fee based on how much you save and Truebill even claims that there is an 85% chance that they'll be able to lower your bill once a negotiation is requested. Why wouldn't I take them up on this? There was zero risk and I would only have to pay once my bill was lowered (which means that I would be saving money regardless).
More standard features of Truebill include the ability to generate a credit report on-demand and even request a pay advance. I only used the pay advance feature once when I wanted to buy a gift for my mom, but didn't have enough cash in hand and Truebill automatically reimbursed itself when I got my next paycheck.
The credit report is another fantastic feature and practically taught me what good credit meant. Truebill's credit report basically shows you which financial decisions have the most significant impact on your credit score and ways that you can improve your credit month-over-month. I've never had such control over my credit and it feels good.
I'll be the first to admit that I was extremely naive coming out of school. I figured that as long as I was attentive, I could manage my finances with ease. We manage money to some extent throughout our entire lives, but once you're thrown out on your own, it's a completely different story. With Truebill, I've finally been able to take control over my finances and stay on top of all of my responsibilities.
My buddies and I always try to make it out to a game, but we never really care which one we end up at. Obviously we have our favorite sports and teams, but it was rarely about what game we went to or who we saw playing. It was about watching the game live.
In the early months of lockdown, all we had was Korean baseball, and trust me, we loved it. The only issue was, none of us had any idea what the commentators were saying. Even then, a few of my friends weren't huge fans of baseball. They were into sports like football and basketball, ones that moved at a quicker pace with less down-time in between plays.
We decided to see if there were any other events going down and came across horse racing. Yes, horse racing. It was perfect--short, fast-paced, and most importantly, an opportunity for betting.
I had never really considered watching a horse race any time other than the Belmont Stakes, but the prospects of the sport seemed exhilarating. Even better, with horse racing we knew we could still recreate the atmosphere of a race track. Salty snacks? Check. Stale beer? Check. A simple and easy way to bet? Check.
One quick Google search later, we came across TVG, powered by FanDuel. It's an online betting platform that takes you right to the heart of the action. We were a little apprehensive about using a mobile app to place our bets, but TVG's ability to bet on live horse races from all over the world was too good to pass up.
Here are 5 reasons why we are obsessed with horse racing thanks to TVG:
1. Betting has never been easier
Use your phone or computer to watch and bet on live horse races in real-time. TVG offers a bunch of features to make betting even simpler--live odds and handicapping tips leverage recent learnings to help you make your best bet. Not to mention, TVG's exclusive race content and wagering guide offers an under-the-hood look into the strategy behind horse race betting.
2. The biggest selection of horse races out there
If you're looking to drop a little dough on a horse race, chances are your best option is your local race track. But watching the same few horses races over and over again isn't the most exciting thing. With TVG you have access to over 150 tracks worldwide with races happening consistently throughout the day.
3. Get a generous sign-up offer when you place your first bet
Once you register your account, you will be eligible for a $200 risk-free bet. All you have to do is place your first bet and you're covered. If you happen to lose, TVG will insure you for up to $200 as a sort of wagering credit. I may have been a little trigger happy when placing my first bet, so having this insurance was a great perk. There are also a bunch of promotional offers available year-round.
4. Making deposits and cashing out at the touch of button
With a ton of payment options such as PayPal, BetCash, debit/credit, wire transfers, and other third-party services, making a deposit is a breeze. But what about the payout? Depending on your deposit method, your withdrawal will be available in a few days. No more waiting in-line to collect your winnings!
5. Watching live races with your friends while betting is exhilarating
Even when we were watching Korean baseball, Zoom calls with my friends were a little dull.
With TVG, we haven't had this sort of fun in months! Every weekend we'll turn on a race and throw our bets in. After a few races, and quite a few drinks, we'll tally up our winnings to see who won the most! Sometimes it's not even about making money, but just having a good time.
TVG is the perfect way to add a little excitement to an otherwise mundane afternoon. It introduced me to the world of horse racing, a sport I never would have considered otherwise.
The races just keep ramping up and thanks to TVG, I can always get in on the fun.