May 15, 2009 -
It's amazing what can be done with small spaces. Every year, Apartment Therapy holds a Smallest, Coolest Home Contest with five divisions that account for different definitions of small. The teeny-tiny division represents apartments with the least square-footage, in other words, seriously small.
- 30 Comments
May 14, 2009 -
It used to be that you asked your landlord for an extension when you couldn't make rent, but some renters are taking a different route. ABC News profiled people who recently threw profitable parties in the name of raising rent money, blaming their monthly shortfall on economic forces.
The idea is to charge guests about $10 for snacks, drinks, and a place to party.
- 17 Comments
May 04, 2009 -
A general budget rule of thumb is that your rent or mortgage payment should be less than 30 percent of your income. If a homeowner spends 30 percent or more of her income on housing costs, the government and most lenders consider her to be financially burdened.
Source
What Percent of Your Salary Is Used For Rent / Mortgage?
- 29 Comments
Apr 15, 2009 -
Job hunting is a more tedious process than ever, and if you're living in an expensive city your rent may be increasingly unmanageable the longer you're unemployed. Relocation is one way to cast a wider net on available jobs and it's possible you'll score a job in a city that's less expensive than your current address. A tough job market is all about compromise, so ruling out a move probably isn't the smartest decision.
- 15 Comments
Mar 25, 2009 -
Having roommates has its financial and social benefits when you're in college or a young professional, but most of us expect the time will come when we live alone or just with our nuclear family. The recession seems to be changing that. According to CNN more and more professionals (often homeowners) are taking in roomies to help cover the cost of a mortgage and make up for frozen salaries and unexpected health care cost increases.
- 17 Comments
Jan 28, 2009 -
Dear Savvy,
After three years as a coordinator, I finally earned a promotion to manager. With the promotion comes a raise, and thus the opportunity to secure full financial independence from my parents.
Although my dream is to put a down-payment on a house in four years and I know I could save more if I continued to live with my parents (no rent, no groceries), I am eager to try living on my own.
- 18 Comments
Jan 22, 2009 -
The beginning of each month can be bittersweet: Most of us are paid on the first of each month, and for those of us who rent, it's also the day we write a big check to our landlords. Every year, I hold my breath and wait for my landlord to raise my rent, but it still hasn't happened and it probably won't anytime soon. It's the sweet side of a renter's market.
- 10 Comments
Jan 09, 2009 -
Did you know that Washington DC residents are renting out their homes for the Jan. 20 presidential inauguration? Residents can stand to earn a pretty penny: the pictured home is renting for $550 a day!
- 6 Comments
Oct 02, 2008 -
"I’ve been renting for 25 years. And when I add up all that I’ve poured into that rental black hole, it’s formidable."
- 23 Comments
Sep 24, 2008 -
The housing crisis has highlighted just how many people are living in homes they can't afford. According to data recently released by the US Census Bureau, about 15 percent of American with mortgages are spending at least half their income on housing costs. Do you know how much the government and most lenders say is the most you should spend on housing costs?
- 17 Comments
