Try This Simple 3-Step Trick Next Time You’re Shopping to Avoid Buyer’s Remorse
This Is the Best Way to Save Money on Rent, According to a Leasing Agent
It’s no secret that the housing market is weathering a volatile time of supply limits and unprecedented inflation. Whether owning or renting — or trying to decide between the two — prices continue to climb. According to reports, the national average rent increased over 20 percent year over year in 2021.
“Even with mortgage rates rising rapidly, real estate remains competitive, partly because homeowners… were generally less affected, monetarily speaking, by the pandemic than renters,” reports finance site Bankrate.
Apartment Therapy sat down with Carolyn W., a property manager overseeing a luxury complex in Dallas-Fort Worth, to learn how her industry is evolving with the times — and her advice for renters looking to save in a competitive market.
“The market has obviously grown significantly, especially in the rental market,” she says. “It starts with legislation. Soon enough, when buyers aren’t able to secure a home, renting is affected… The studios that were previously $1,250 are now $1,550.”
And with no signs of slowing down, I asked Carolyn for her best tips and hacks for saving hundreds of dollars per year on rental costs.
Tour new construction properties.
We’ve heard it all before: location, location, location. And the first location renters should look at newly developed complexes and neighborhoods. Carolyn shares, “Brand new construction is the best way to get a great discount. [Property managers and developers] want to get people [to sign leases and move in] to get that cash flow. That’s where you’re going to see the six-weeks-free specials.”
Inquire about ‘look and lease’ specials.
If you’re not looking at newly renovated spaces or new construction builds, you can still stand to enjoy a discount. Carolyn talked about one of her favorite saving hacks: “look and lease” specials. With ‘look and lease’ specials, prospective tenants are given the opportunity to tour the exact unit they could live in and given a shorter turnaround time to make a decision to lease. “Typically, the timeframe is 24- or 48-hours,” explains Carolyn. “And typically, we’ll waive administrative fees, like an application fee.”
Ask about upfront costs and efficiency.
Carolyn advises budget-conscious renters to ask the right questions and inquire about the upfront costs. “It never hurts to ask. Ask, ‘What are the monthly fees? What will I pay every month for pets, the parking garage, valet trash, etc.?’”
Carolyn shares an added hack: “Ask if you can cancel services once you realize you’re no longer using it. For example, if you realize reserved parking isn’t helping you, see if you can cancel it in the middle of your lease before you sign. Similarly, find out if you add on services like parking or storage later, once you realize you need it.”
Another great question: Is the apartment energy efficient? “Being on the top floor or in a corner apartment will be more expensive, but knowing about the efficiency can give you a better idea of the most costs you could incur,” she says.
Get a great apartment locator.
“The best advice I can give for anyone looking for an apartment: find a great apartment locator,” Carolyn says. An apartment locator is a professional who helps renters find their next home, often at no cost to the tenant.
“Many property managers work with apartment locators. And the locators are the first to know about upcoming deals, specials, or promotions… These Realtors are working for a commission, and when you find a great apartment locator, they will stop at nothing to get you into an amazing apartment. It’s the number one tip I give all of my friends.”
5 Ways to Spend Way Less Money on Travel This Summer
There’s nothing like stepping off the plane into an exciting new destination, especially in the summertime. But traveling is also expensive — not only do you have to pay for transportation, you have to fund accommodations, food, and activities once you arrive.
Here’s the good news: There are plenty of ways to travel for nearly nothing this summer, especially if you’re willing to be a little unorthodox. Here are five ways to travel for less.
Pick your destination based on flights — not the other way around.
It can be difficult to score a really cheap flight for your dream destination in a given timeframe, especially in the summer when demand is high. But if you cast a wide net for a range of destinations, you’re more likely to nab an excellent deal — and then you can plan your trip accordingly. Scott’s Cheap Flights is a bargain-hunting travel website that sends alerts for low fares via newsletter (with extra savings for premium subscribers).
Flights are also particularly expensive right now, so to the extent possible, approach travel with a flexible mindset. Keep an open mind when it comes to destinations and be prepared to jump on a deal when it arises.
Leverage your credit card points.
If you have a credit card that offers great rewards, you can often not only get cash back on travel-related spending, but redeem your points directly for flights and hotel bookings. With enough points, you truly can travel for free. One of the most popular travel cards is the Chase Sapphire Preferred card, which comes with built-in travel insurance for trip cancelation, lost baggage, and rental cars, among other perks. You can redeem the points you earn and book travel through the Chase Ultimate Rewards portal, or use them to book with Chase’s 14 airline and hotel partners. (Here are seven other options recommended by experts.)
You can also sign up for airline or hotel-branded credit cards, which often offer bonus miles or points upon signing. But credit cards should not be opened impulsively: Carefully consider your credit score and ability to pay down the full balance of a credit card each month before opening a new line.
If you’re not already enrolled in a free airline loyalty program, now is a good time to start. When you register for a frequent flier program, you’ll earn miles on each trip you book — miles that you can eventually redeem for a “free” flight. If you earn enough miles to reach a higher tier of a loyalty program, you can also earn perks like free upgrades and checked bags.
The same is true for hotels: Make sure you take advantage of free loyalty programs and input your loyalty rewards number when booking to earn points on every stay. If you stick with one brand, you might be surprised at how quickly you can accumulate enough points to pay for your next vacation. Regardless of your budget for a given trip, you can probably book within your chosen loyalty program. For example, Hilton encompasses more than 18 brands, from the more budget-friendly Hampton by Hilton to the luxurious Waldorf Astoria. Make sure to check hotel websites for deals and promotion codes, too. You never know when a hotel might be offering offer a fifth night free if you book four nights.
Your miles or points could also be worth more if you travel on an off-peak day, so play around with dates and see how much value you can eke out of your hard-earned rewards.
Take a “working vacation” for free room and board.
If you spend a lot of time on TikTok, chances are you’ve seen Workaway pop up once or twice. Think of Workaway as a bit like Airbnb but for cultural exchange — travelers can choose from thousands of opportunities in 170 countries, where they work for their hosts in return for free room and board. The work involved varies widely from listing to listing: You could work on a farm in Switzerland, or be an au pair in Spain. Of course, you should only take on work you’re qualified to do, and vet listings and reviews carefully to determine if it’s the right situation for you. (There’s also an annual fee to access the platform, starting at $49 a year.)
Worldwide Opportunities on Organic Farms (WWOOF) is another option that’s based wholly on farming, with placements in over 130 countries. WWOOF aims to foster cultural exchanges while also promoting organic farming methods around the world. Each destination country has its own site and associated membership (membership fees in Australia, for instance, are $70 for two years). Opportunities range from ranching to cheesemaking. Like Workaway, you’ll want to read the listings and reviews carefully to make sure your chosen destination is a good fit.
While both offer long-term opportunities (including months-long stays), you can also find listings for a visit that’s less than a week long. If you’re seeking adventure and a change of scenery, a “working vacation” could be a great option, as you only need to pay for your transportation there and back.
Another option for free accommodations is house-sitting (and pet-sitting), or participating in a home exchange. Trusted Housesitters, Nomador, and MindMyHouse are three platforms that allow house-sitters and homeowners to connect with each other. Each has an associated fee: Trusted Housesitters starts at $129 per year for sitters, Nomador charges $99 per year, and MindMyHouse charges $20 per year. This is a great option for those who love animals and want to find accommodations that are more unique than your typical hotel or resort.
If you’re willing to host visitors in your home, you could also participate in a home exchange. One popular platform is HomeExchange, which charges $175 per year (but the fee only kicks in once you’ve found an exchange you want to do). This is another great way to get free accommodations in far-flung locations, with home swaps available in 159 countries. While the fees for these platforms may seem hefty at first glance, if you find a beautiful home in your desired location, the benefit could easily outweigh the cost.
These Are the 10 Best Cities for New College Graduates and Career Changers
About ten years ago this month, I was in absolute misery — a ball of stress so tightly wound, you could have bounced me off a wall. College graduation was mere weeks away, and between preparing for finals, bittersweet farewells with friends embarking on post-graduate journeys, and job hunting, I was a complete wreck.
With very little practical direction, pending creative writing and sociology degrees, and a constant state of panic, I sent my resume to every seemingly viable entry-level position’s recruiter. Eventually, I landed at a very just-okay first job. Today, I’m thrilled with where I’ve ended up after a decade, but I wish I’d squashed some of that post-grad dread and planned a little more strategically, pursuing an entry-level job I truly wanted instead of accepting the first offer I received in the city I never left.
For this spring’s college graduates, the job landscape is far more promising. And fortunately, LinkedIn’s 2022 Guide to Kickstarting Your Career has some valuable data to help entry-level job seekers — including upcoming grads — start out on the right foot. According to LinkedIn, here are the top 10 cities for entry-level jobs in the United States.
The first location on this list happens to be my favorite city in the entire world. With an average rent of $1,735, you’re going to want to keep things weird in “the live music capital of the world” with a couple of roommates. In addition to being a musical nucleus, ATX also happens to be a booming tech universe. Celebrate your graduation the way I should have: with food truck grub and a Lonestar.
2. Chattanooga, Tennessee
Situated along the Appalachian Mountains, this southeastern Tennessee city is known for its railroad history and as the site of Civil War battles. Soon, it will be known as the place where you start your entry-level job! With an average rent of $1,238 per month, this southern city is a wonderful place to start building a career and exploring the beautiful surroundings, including mountains, caves, and the Tennessee Riverwalk.
3. Raleigh-Durham-Chapel Hill, North Carolina
If you’re looking for an entry-level position within the research field, look no further than Raleigh-Durham-Chapel Hill, aka“ the “Research Triangle.” With average rent prices at $1,522, $1,468, and $1,744, respectively, this region is ideal for those considering graduate school at one of the region’s major research universities… or for those who just love pleasant weather and picturesque scenery.
4. Charlotte, North Carolina
North Carolina’s largest city is a major hub for finance and sports. For those seeking entry-level opportunities in those industries, Charlotte may be the ideal location to start building a career. With an average rent of $1,559, this city has much to offer any type of job seeker, from recent graduates to folks looking for a career change.
Before digging into LinkedIn’s data, I had never heard of Cape Coral, Florida — a gorgeous city along the Gulf of Mexico. Turns out, I’m an outlier. Cape Coral is one of the fastest-growing cities in the United States, and residents pay an average $1,944 rent per month. The city also boasts a massive network of canals, some of which have access to the Gulf. Who wouldn’t want to start the next phase of their career here?
Among my friends, it seems like Denver is THE place to relocate. Outdoor activities reign supreme year-round, and residents know how to work hard and play way harder. The average rent is $1,879 per month, which might be tough for recent graduates. But the surging population means you can meet plenty of potential roommates at your local hiking trail!
Music City, baby! I’m a sucker for classic country tunes, delicious barbeque, and a late night honky tonk. And if I were in the market for an entry-level position, you better believe Nashville would be on my shortlist. Keep in mind, this town is booming, and the average rent reflects that at $1,694/month. But who can resist warm weather, iconic music, and a damn good time?
While you set out on your search for the perfect entry-level job, I can think of fewer places more beautiful than San Diego. With one of the best climates in the U.S., this So-Cal city’s average rent clocks in at $2,756. While that might be a tough number to swallow, the city’s signature California burrito will go down smooth.
9. New York City, New York
Have you heard of this place? According to LinkedIn, this iconic city is teeming with entry-level opportunities. For those willing to navigate the rental situation in the five boroughs, start searching for rental opportunities in Manhattan (average $4,265 per month), the Bronx (average $1,650 per month), Staten Island (average $1,500 per month), Brooklyn (average $3,124 per month), and Queens (average $2,769 per month).
10. Boston, Massachusetts
Unsurprisingly, the average rent in this city — one of the oldest U.S. municipalities — is a tough number to look at: $3,634 per month. But the cultural opportunities and rich American history make this city an intriguing option for entry-level job seekers. How do you like them apples?
5 Tips To Take Your Side Hustle Full-Time, According to Those Who Have Done It
Whether it’s for extra cash or because you realized people want to buy those candles you started making as a pandemic craft, having a side hustle means putting in extra hours after your primary job to make it work. It makes you wonder how much more you could do if you had five full days to commit your passion project.
If you’ve been thinking about taking the plunge to go full-time freelance, know that you’re not alone. The Great Resignation led to 4 million people quitting their jobs in 2021 either from burnout, the need for flexibility, or the dream to become their own boss. I tapped three individuals who’ve made the leap themselves, shifting from self-starters to CEOs of their own lives. Here are their tips.
Make sure it’s financially feasible.
After beginning her career with a contract job at the Wall Street Journal, Kelsey Mulvey knew she had the ability to write the lifestyle and home decor stories she wanted to write. Continuing her side hustle with other full-time editing jobs, she finally began freelancing full-time in 2017, and later launched the newsletter “Office Hours with Kelsey Mulvey,” where she shares tips on being your own boss and highlights other self-starters.
However, she couldn’t have made the shift to self-employment if she hadn’t built up a roster of clients or initially landed a consistent part-time editing gig that helped ensure there would be money coming in. She says it’s important to determine how much of your “product” you need to sell (whether it’s physical or skill-based) to cover monthly expenses, or make sure you have a solid emergency savings fund.
Before going freelance, Mulvey also recommends letting people in your circle know that you’re open to more work or that you’re officially launching a full-time business, as you never know who might connect you to new clientele.
Have multiple streams of income.
When Abigail Koffler was laid off from her nonprofit job four years ago, she had a food newsletter called “This Needs Hot Sauce” that she’d started six months prior, and decided to take a chance with freelance food writing. To keep herself afloat, she also took on a babysitting gig and a part-time teaching job. Now, having dropped the babysitting, she’s monetized her newsletter and teaches virtual cooking classes with her friend, personal chef Erica Adler. “It’s been really nice because it uses a different part of your brain than writing, but they compliment each other really well,” she says.
Aside from writing for multiple publications, Mulvey is also looking to monetize her newsletter in the upcoming year. She says some of the beauty of freelancing is choosing which projects to work on, and especially after the uncertainty of the pandemic, it’s smart to diversify revenue streams.
Lisa Tran, founder of The Elevated Esthetician and a holistic esthetician, offers a variety of services from facials to personal coaching. Eventually, she hopes to open a storefront where she can offer all these services in one place. “[And] of course,” Tran says, “I’d like to offset the income with brand partnership and products.”
Figure out what you’d lose from a full-time job.
Even if you hone in on your craft, there are still aspects of owning your own business to consider before leaving a full-time post. Health insurance, 401(k), and paid time off are all things typically offered by employers that you’ll have to figure out on your own.
Plus, you’ll need to remember to file quarterly taxes and understand what you can write off when you file. Koffler recommends having a separate credit card for business expenses to make things easier when consolidating at the end of the year.
Prepare yourself to be your own boss.
While it sounds nice to set your own hours and take a workout class in the middle of the day, being a self-starter isn’t always so glamorous. Mulvey oftentimes finds herself running late to finish a story or having to respond to emails when on vacation. That means time management is a must.
“I don’t recommend becoming your own boss to everybody,” Mulvey says. “You have to be very committed to what you’re doing because it’s a lot of work.” She recommends treating yourself as the face of your business, meaning sticking to professionalism and avoiding complaining online — like you would do for an employer.
For Tran, managing her own work schedule means carving out extra time in the morning to review goals and get into the right headspace. While Koffler says she loves that she no longer has to sit at a desk for a designated amount of time, she tries to stick to a schedule that includes a productive midday walk.
Another benefit the self-hustle world often lacks are colleagues to lean on (and sometimes air grievances with). Both Koffler and Tran bridge this gap by meeting up with other freelancers in their area to keep each other accountable and answer any questions.
They also encourage remembering that growing your own business takes time. Tran says that while social media can be inspiring, watching other self-starters can be disheartening at times — especially with overnight successes you may see popping up from TikTok.
“You have to believe in it and commit even though you’re not seeing results right away,” Koffler agrees. “Be patient, enjoy the actual work, and [celebrate] the little wins.”