Renting

Is Renting a Car More Pocket Friendly Than Buying

The straight and simple answer to this extremely tricky question is a big YES!

Renting a car is always more cost effective than buying a new one because you are able to save on the huge investment that you actually make on buying an asset that depreciates with time. If we are to talk in a strictly financial language then it is never wise to buy assets that depreciate in value; however, it is always good to buy assets like property and shares that increase in value.

It is really hard to not fall prey to the temptation of buying your own car, especially when you are unable to hail a taxi during the rush hours. If you are able to actually count the number of days in a year when you felt the need of a car real badly then you will be surprised to find that it is not more than 10 to 15 days in a year. Do you really need to buy a car that you will need only 15 days in a year? No logic behind buying a car exists unless you have a lot of extra money to waste on assets that depreciates in value over time.

According to the statistics, a new car depreciates by 40% of its list price in the very first year itself. By the end of the third year, the value drops by 60% of the list price and this keeps falling till your car is valued not more than junk iron sheets. Why do you want to waste your money investing on something that really does not add any value to your life?

Buying a car is probably the dumbest idea and an absolute waste of money when you have many other options. Renting a car can save you hundreds of dollars a month and you can go step further to even get a car on lease. Both these make a lot of sense than just blindly buying a car. Lease is a long term rental deal that lets you drive a car for a fixed monthly price. In the US, people are more into driving around in the latest models than actually buying them. Now, there isn’t a better deal than renting the car and driving to wherever they wish.

Renting or leasing a car does not make you the owner of the car but you definitely save hundreds of dollars while driving some of the latest models on the road.

Seven Great Tips for Renting a Car

When renting a car there are a little of secret tips that can help you save money, cash, and time. Here are six of the best and in MEME form to help you remember them!

1. When renting a car online reserve a compact at the last minute. They likely won’t have a compact handy and will give you a free upgrade.

renting car

2. Buy the insurance! Even if the car is totaled in an accident that’s your fault you won’t see a single charge.

buy insurance on rentals

3. Rent from locations at car dealerships. They close early, meaning you can drop it off overnight and not get charged extra.

rental cars

4. Ignore the no smoking stickers. Every car gets hit with an industrial deodorizer after every ride.

buy car insurance on rentals

5. Do not let someone else drive. If they are pulled over and not on the contract. The car will be taken and you will be heavily fined.

buy insurance on rentals

6. If you have a dog put a blanket over the seats.Dog hair is the only thing we charge for.

buy insurance on rentals

7. If you don’t like the car they give you, complain about the brakes, they legally have to give you another.

buy insurance on rentals

Home Is Where The Heart Is

Are you searching for an apartment or place to live?  Do not let your pocketbook be the only thing that holds you back.  There are a few very important aspects that you need to remember when picking out a house or apartment that can end up saving you and your pocket book a little bit of stress.

1. Home Improvements

Does the house or apartment need some tender loving care? Or more like some major repairs?  Either way, hope is not lost.  Take a look at what you will have to spare after you buy the home or apartment. Will there be enough there to make the changes you want? Changes that will really make you happy with this place and make it a home? If yes, sign on the dotted line!  If no, do not stop the search quite yet.

2. Location, location, location

If you are a college student, think about public transportation, work, and class. How far away are you?  There is no such thing as too close but there is such thing as too far.  You do not want to overdo it on gas money, nor use all that time commuting to and from your desired location.  Think about it.

3. Go Green!

Take a look at the environmentally friendly aspects that the apartment already has or can easily be adapted to.  Not only is it good for the environment, but often times going green can also save you some green.  Solar panels? Expensive, but they eventually pay for themselves.

 

Just a couple things to think about ya’ll.  Do you have any tips that need to be shared? Let’s hear them! Comment below!

Renting an Apartment in NYC

Finding an apartment in NYC can seem like one of the most daunting experiences of your life, especially when on a budget in such an expensive city; but if you break the process down, it becomes far less stressful. The first thing you need to consider is your budget. This will help steer you in the right direction regarding realistic locations, and whether or not you will need a roommate(s). Once you have figured out your budget, begin to look into various areas in the city you are interested in to get a feeling for average pricing and availability. Depending on what you find, you will then be able to determine if you need a roommate or roommates to help split the costs of your apartment. It’s very important to have your budget, ideal locations, and roommates all finalized before beginning your search. This way, you won’t waste any time during the process.

 

New York City

Once all your preferences are set, you should first browse various websites to see what’s available. It’s important to be wary of what you see online, though, as many posts are scams. There are websites pertaining to all cities, but two of the most legitimate sites in NYC are www.citihabitats.com and www.streeteasy.com. Though these sites guarantee real listings and great service from licensed professionals, they often come with hefty broker fees. Broker fees are often 15% of one year’s rent. In addition to this, you will have to put down a deposit upon signing the lease, so it’s vital to keep these costs in mind when choosing how to pursue your apartment.

A different approach to take is to use Craigslist or sites like HotPads. These sites are more risky, in that one can never be sure who they are dealing with on the other end. However, some of the best deals are on these sites and often do not come with a broker’s fee. Craigslist has an option to look for only no fee apartments, and you can even look for sublets or roommates if you are having difficulty finding any. Sometimes going with a sublet is a favorable option, because you often won’t have to pay a broker’s fee or deposit, depending on your roommate. This is also a more non-committal option, as you won’t sign a lease. If you are looking for something temporary or short-term, subletting may be ideal.

Once you have found a bunch of places to look at, check them all out to get a feeling for what you like best. Walk around the area at night to make sure you feel safe, and get a feeling for the neighborhood at large. Other factors to consider are pets, walk-ups versus elevator buildings, and whether or not you prefer having a doorman. Once you figure out exactly what you want upon viewing these apartments, your search will narrow down quite a bit.

Once you’ve found the apartment you love, sign a lease – FAST! Apartments go off the market like rapid fire in NYC, and it can be horribly disappointing to lose a place you love; however, this is incredibly common. Once you do get to lease signing, read the fine print extremely closely, as you may be surprised by what you see. One of the biggest issues today with apartments in NYC is bed bugs. Landlords are required to tell you if there have been cases of bed bugs within the past year in the building, but they may not be as forthcoming with that information as you would like. If there have been bed bugs in the building recently, it will be in your lease, so be sure to look for that disclosure or anything else that seems out of the ordinary.

After you’ve signed your lease, celebrate and enjoy your new life in one of the greatest cities in the world!

Should You Buy or Lease a Car?

The decision on whether to buy or to lease a car is influenced by two major aspects of an individual: the financial position or priorities he or she has as well as his or her personal references in terms of what ownership of a car would mean to them.
buying a car
The financials, we would hope, take top spot in this one, one would hope, though of course human decision making is as subjective with purchases as it is with everything else. If you can afford to buy a new car, then this may be the preferred option. You are able to recoup most of the money if you get one whose market re-sale value is high and if your insurance and maintenance are up to scratch.

Also, if you are employed, it is easy for you to get a loan that can help with financing your preferred dream car. The significant increase in low-interest financing and cash-back offers makes loan financing an attractive option and thus means more and more people prefer buying to leasing a car.

In fact, in the current global economy, with fuel prices rising and lease payments almost equivalent to car-financing payments, leasing is increasingly a less financially viable option.

Leasing has always had the a number of traditional advantages, which include the ability to upgrade quickly to another model and enjoy new technological and safety benefits from newer models. It also helps the person leasing the vehicle to actually enjoy a comprehensive test-drive period of sorts before deciding on whether he should purchase the vehicle while at the same time removing that old albatross that comes with car-purchasing: you have an asset that has a depreciating value.

But these advantages can be eaten into by a number of considerations, including the fact that maintenance is a prime condition of the leasing process, and the constant payments (which, unlike financing, do not result in ownership of the vehicle) can be moral sapping.

Comprehensive insurance for a purchased vehicle, which is also a definite on one which has been financed means the burden of servicing and maintenance is not carried by the person purchasing the vehicle, as opposed to someone leasing.

And with cars built to last longer and upgrades to them made easier over the years, the benefits of new technology can be added without necessarily changing cars, which is a significant advantage that leasing may have had in the past.

Against a backdrop of paperwork and red-tape involved in the leasing process as well as the fact that it only really makes financial sense if you want to write it off as a business expense (for a firm) or if you are dealing in a market with rising interest rates (this making car financing more costly), leasing rarely holds the edge over actual car ownership.
And besides, for the individual, there is always the satisfaction of knowing that the car in your garage or parked in your drive way is your car.

Where to Live at College?

One of the first things students think about when college comes around is, “where am I going to live?!” For some students, living on campus in the dorms is where they belong. The dorms are close to class and student activities, and cluttered with other students just begging for a study buddy or a friend. For others, off campus living holds many benefits. Conversely, living off campus can be a make or break move financially for any young and eager student. There are generally two options a student has when it comes to off campus living; rent an apartment or live at home.
Renting an apartment can be a large commitment for a new student with a full class load. Rent can range anywhere from $500-$1000. However, there are also things like internet and electricity bills, not to mention things like cleaning, which can really take a toll on your checking account and free time. Students who make the decision to rent an apartment usually find themselves working at least a few nights a week, taking up valuable study time.

I, like many other students, have taken option number two; living at home. After moving to Iowa City from a little town in Illinois to attend college, my grandparents graciously offered my twin sister and I one of the apartments they rent out or a room in their basement. I was prepared to jump into apartment living. The excitement of living on my own was almost more than I could handle. I was ready to sign the lease when my sister stopped me and said we should consider living with our grandparents. Forgive me if I didn’t find as much excitement in living with my grandparents as I did with living on my own. Thoughts of curfews and homework checks clouded my mind. But, then I sat down and figured out how much money I would be spending renting an apartment. With a $500 rent, at least $100 in groceries every two weeks, and a little extra gas money driving the extra distance to class, living in the apartment began to lose a lot of its appeal.

My second semester of college and of living with my grandparents is rapidly coming to an end and I could not be happier with the decision I made to live with my grandparents. The money that I saved not renting an apartment now populates the empty space that I once called my savings account. The education I am receiving at college is paid for and I am able to afford filling up my gas tank to visit home every now and then. The choice I made to live with family instead of renting an apartment on my own was one of the best decisions I could have.

How to Add Value to Your Home

Home improvements are always regarded as the ideal investment to make in a home. They work to greatly add value to your home price. The apparent belief is that home improvements not only make the house more of a pleasurable living experience to endure but they also increase the value of your property.

add value to your house

This is a fair definition of what home improvement should achieve but a lot of the home improvement carried out doesn’t actually get to reach these and other less obvious but just as important goals of home improvement.

So here are some basic characteristics of what would make for good home improvement efforts:

a) They should improve the overall value of the property, in particular regard to two potential audiences: banks and property buyers.

b) They should make the house more practical in terms of being used as a living space. Open space improvements, for example, help reduce on walls which take up space and make navigation cumbersome, even in large houses.

c) They should have an overall impact on reduction of the cost of utilities. Home improvement projects that improve water use, drainage systems, save on electricity bills by improving access to natural light or by providing efficient lighting systems as well as improving central heating systems certainly fall into this category. If by home improvement you are adding a paint type, for example, that enhances lighting in your house, even at that level, you are on the right track.

d) Home improvements that improve the safety of the property are certainly vital as well. These include improving heat and electrical insulation, fire systems as well as general security systems like alarms. If you install nets in areas with houses that can be accessed by insects or storm windows for bad weather-prone areas, you are getting value for your home improvement investment.

e) Home improvement is also probably best done by a professional. It is all very well to try and do things around the house once in a while but installing new garage doors or re-tiling the kitchen really should not be done by you. The less than professional work actually shows, even to an untrained eye.

f) Convenience also really helps home improvement worthwhile. If you upgrade some of the bedrooms, particularly the master bedroom an en-suite bedroom, the value for the property is bumped up considerably due to the added convenience.

Of course you may have some improvements that do not fall directly into this category, that though they may be pleasing to the eye or your own personal tastes, really do nothing for you intrinsically, or for the property in terms of adding value. These include things like interior decor and swimming pools. You may add them of course, but only as a bonus.

In the long run, it helps to get all the other aspects out of the way first.