Wednesday March 5, 2014
Although buying a condo, coop, or house involves saving money for a sizable down payment, the total financial outlay may wind up to be less than what you'd pay to rent your home in the same city.
Trulia.com, a leading residential real estate site, looked at how home prices compare to rents in 100 U.S. metropolitan areas and determined if it makes more financial sense to buy or rent. Nationwide, according to Trulia, if you plan on purchasing a home and staying put for seven years, you'll save an average of 38% as compared to renting for the same period (down from 44% one year ago).
Check out 10 U.S. markets where it's cheaper to buy than rent, courtesy of CNNMoney.com.
(Image © AtomicSupersonic / Getty Images)
Wednesday March 5, 2014
When you hear about a landlord hauling off a tenant's belongings to the dump, it's often an attempt at a "self-help eviction." But recently, a New York City landlord ordered a contractor to enter a tenant's apartment and throw away his belongings -- completely by mistake. Rather than clear out some items left by a former tenant who rented Apartment 2B, the contractor inaccurately targeted Apartment 2D, which clearly showed signs of a currently occupied living space, according to a report from the New York Post.
The tenant is now suing the landlord, management company, and contractor for the costly error, claiming to have lost everything from furniture to important government documents and credit cards, prized possessions, and irreplaceable items of sentimental value, with the exception of his TV and PlayStation 3, and not having received compensation.
The tenant estimated the damage at $40,000. Do you think he deserves more for the trouble and emotional distress he experienced? How much? Are the landlord, management company, and the trash remover contractor equally liable?
Tuesday March 4, 2014
Are you single and looking for an apartment? If so, it could be helpful to know which cities are the most attractive for people who've never been married or who are divorced or widowed.
Kiplinger scanned the country's metropolitan areas with at least 125,000 people to find single-friendly destinations, looking at factors such as household income, unemployment, education, and cost of living, while favoring areas with a larger-than-average singles population.
Topping the list this year is the Santa Barbara, Calif., metro area, which offers residents "affordability and a sunny climate" with "plenty of opportunities for long walks on the beach, plus hiking and biking trails for a more-active outing."
Check out the top-10 list and full methodology at Kiplinger's slideshow, "10 Best Cities for Singles."
Sunday March 2, 2014
Imagine living in a building where you didn't have to worry about whether your landlord has gotten around to taking care of shoveling the sidewalk. Read about heated sidewalks, which is turning out to be "the ultimate amenity in an unrelenting winter," according to a report from The New York Times. Although residential buildings with heated sidewalks are hard to find even at luxury buildings, it may appear increasingly attractive to landlords after snowy, icy winters.
Would you pay more rent to live in a building that's serviced by heated sidewalks? Or do you think it's an overpriced amenity?