Many people continue to rent because they think that it’s the more affordable option—and that owning a home is out of their reach. But, as it turns out, rents have seen sharp increases across the country—while the average mortgage payment has actually fallen.
According to a report from CoreLogic, the “typical mortgage payment” (a monthly mortgage payment based on the US median home sale price that incorporates both principal and interest) has decreased four percent since 2005—while the monthly cost to rent a single-family home has increased by 36 percent. Renters are also more cost-burdened than homeowners, with nearly half (46 percent) spending more than 30 percent of their total income on rent (compared to just 27 percent of homeowners).
The Takeaway:
If you’ve been renting as a way to save money, it might be time to rethink your strategy. Rent has been steadily increasing across the US in recent years, and in many cases it’ ...

When it comes to selling your home, you want the entire process to be as quick and profitable as possible. And according to a recent study, there’s one thing you can do to make sure your home sells quickly and for the most money—listing it on the right day.

According to a recent study from Redfin, homes listed on Thursdays sell both faster and for more money than homes listed any other day of the week. But how much faster—and for how much more money? According to the study, homes listed on Thursdays typically went to contract five days faster than homes listed on Sundays (the day of the week homes sell the slowest) and, on average, sell for $3015 more than homes listed on Mondays (the worst day of the week to sell in terms of price advantage).


The Takeaway

If you’ve been thinking about listing your home, make sure you list it on a Thursday. Not only will the process likely be faster, but it will probably be more profitable as well. ...

Plenty of home sellers consider their places to be coveted properties that others would be lucky to own. But, that hubris can often lead to trouble when it comes to actually landing an offer and closing a sale.
First-time sellers in particular exhibit some self-sabotaging behaviors that can trip them up on the way getting the deal done. The following are the most common mistakes they make and how to avoid them.
1. Thinking they can go it alone

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Selling a home is not for the faint of heart, nor is it an easy DIY project. First-time home sellers quickly realize marketing and showing their property is a full-time job. Unless they’re experts in real estate contracts, appraisals, inspections, and other documentation, they can end up make costly errors. Fortunately, this is an easy one to fix: Hire a licensed agent.
2. Wanting to price it too high

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Homeowners may think they’re living in the perfect home, but pricing it too high will render it a white . ...

Your credit score plays a key role in the homebuying process. Having a high credit score can help you score a lower interest rate on your mortgage—which can save you tens of thousands of dollars over the course of your loan.
But if you have a less-than-perfect credit score, there’s no reason to panic! There are steps you can take to increase your credit score—and snag the lower interest rates that come along with it.
A recent article from Apartment Therapy outlined five key strategies to improving your credit score, including:

Paying your bills on time, all the time;
Keeping credit card balances low;
Auditing your credit report on a regular basis (and correcting any mistakes);
Limiting hard inquiries; and
Giving your score time to grow


The Takeaway:
Bottom line? If you make these five strategies a rule, your credit score will improve—and you’ll be able to save money on your mortgage as a result. ...

As a homeowner, you want to keep your home in tip-top shape—and that requires a certain level of upkeep.

But not all maintenance efforts are created equal—and some of your efforts can actually make problems worse instead of better.

In a recent article on Apartment Therapy, a panel of home inspectors shared the maintenance mistakes most homeowners make in an effort to fix their home, including:


Painting over water damage



Not changing the HVAC filter



Overlooking small cracks in the foundation



Improperly-installed air conditioning units



Lazy weatherstripping ...