Home Articles Posted by Izy Berry (Page 42)
,
Digital Nomad United States Tax Guide
The explosion of technology has allowed for a significant increase in digital nomads. That is, green card holders and United States citizens who travel the world while working for clients from virtually anywhere. But, traveling the world does not remove United States tax obligations – it only makes taxes more complicated. Whether you have been traveling the world for years or only recently became a digital nomad, be sure to get the help of a professional.
Using This Guide
This guide is intended for anyone who is, or is considering becoming, a digital nomad – United States citizens who work abroad. It is vital to understand your tax obligations so that you can enjoy your lifestyle while remaining compliant. Consider the issues below as you think about your options for your new country of residence.
Foreign Earned Income Exclusion
The FEIE is one of the largest benefits available for digital nomads. If certain criteria are met, digital nomads can exclude as much as USD 100,000 of earned income, if earned abroad. To qualify for this exclusion, you must meet at least one of two criteria:
- Physical Presence Test, or PPT – Both work and live outside the US for a minimum of 330 days in any 365 day span.
- Bona Fide Residence Test, or BF – Both work and live in a single foreign country during a complete calendar year.
These two tests sound very much alike, but they are really very different in how they will apply.
The essence of the physical presence test is that you left the US and for a period of 12 consecutive months have not been back to the US for a total of 35 days during this time. This is any period of 12 months, not necessarily the calendar year. Note too that the 35 day maximum does not need to be consecutive – several short trips can add up to make you ineligible.
There are two seemingly minor, but very important points to remember:
- Any days spent in the US count toward the 35 day limit. For example, if you land in the United States on August 1st and depart on August 10th, you must count 10 days of time in the United States.
- The 330 day minimum time outside of the United States must be on the territory of a different country. So if you are on a cruise ship (in international water), those days will not be included in the count of days outside the United States.
The bona fide residence test will most likely not apply to digital nomads. It is intended for those moving to establish residency in a single foreign country.
Earned Income and Unearned Income
The distinction between earned and unearned income is important for many aspects of tax law. A simple way to view this is that earned income is from an activity in which you actively participated. Unearned income, also known as passive income, is from an activity in which you did not actively participate. As an example, compare what you earn from an office job versus what you earn from back interest or investment gains.
For digital nomads, earned income can sometimes be excluded from taxes. Location matters, too, though. If you give a presentation in the United States (earned income) although you live in Europe, that income is earned within the United States and is not eligible for the foreign earned income exclusion.
Due Dates for Filing and Other Requirements
Taxpayers who live outside of the United States on the standard filing deadline of April 15th get an extension to June 15th. This extension is automatic, and an additional extension to October 15th can be requested.
Along with the typical tax obligations, many digital nomads must also file a Foreign Bank Account Report (FBAR). This report is only informational, but is a requirement for anyone with foreign financial accounts whose total value exceeded USD 10,000 at any time during the year. The deadline for the FBAR is April 15th, with an automatic extension to October 15th.
These are only federal deadlines and requirements. Be sure to understand any state tax obligations as well.
Self Employment Complications and Benefits
For many people, they work for an employer who pays Medicare and Social Security taxes on their behalf. Most digital nomads, however, are self employed, which means they likely must make their own payments under the Self-Employed Contributions Act (SECA). If you are flexible in your location, consider which countries have Totalization Agreements with the United States. If a taxpayer lives in one of these countries, they are exempted from paying the SECA tax.
| Australia | Germany | Poland |
| Austria | Greece | Slovak Republic |
| Belgium | Ireland | South Korea |
| Canada | Italy | Spain |
| Chile | Japan | Sweden |
| Czech Republic | Luxembourg | Switzerland |
| Denmark | Netherlands | UK |
| Finland | Norway | |
| France | Portugal |
Totalization Agreements
Totalization agreements, also known as International Social Security Agreements, serve two purposes. They avoid double taxation in the form of Social Security tax paid to both the country of residence and the country in which the taxpayer works. Second, they help avoid benefit coverage gaps for people who have earned income in more than one country. Totalization agreements specify that earnings from one program apply to the other if necessary to obtain benefits.
Choosing an Address
You may be a digital nomad, but you will still receive physical mail. So where should you have it sent? Choosing a US state for your mail can cause problems. Most tax advisors recommend digital nomads rent virtual mailboxes. One company providing this service is Travelling Mailbox. This company provides you with an address in Texas, which does not have state tax. They can also scan your mail so you can review it online from anywhere.
This can be a complicated area, and is not always as simple as choosing an address in a no-tax state. Consult with a professional advisor when deciding what to do about a US address.
Length of Time Abroad
The USD 100,000 foreign earned income exclusion is clearly an important consideration. Likely the most difficult part of eligibility for the exclusion are the physical presence or bona-fide residency tests.
A taxpayer who spends much of their time abroad, although they don’t meet the 330 day requirement for FEIE eligibility, should consider spending additional time traveling. Time spent living outside the United States counts toward eligibility, regardless of where it is.
Because of the size of this exemption, some people might find it more beneficial to stop working and stay abroad until they meet the 330 day requirement than to return to the United States early and continue working.
Of course, this situation is complicated by tax requirements in host countries too. As we often remind you, consult a professional.
FAQs
What about the reverse scenario, where I have US income but live abroad?
The answer to this question is highly dependent on the details of your situation, so is impossible to answer generically. It will depend on your visa type, the laws of the specific country you are living in, and other factors. We recommend contacting a tax professional familiar with the laws of the country you are (or plan to be) living in.
I don’t live in the United States. Why do I need to file United States tax returns?
The simple answer is that it is the law. All American citizens, as well as holders of US green cards, must file a tax return annually that includes all of their income – even that earned abroad.
What about double taxation?
There is almost never a situation that results in double taxation. Taxes paid in your country of residence are offset on your US taxes. There are often local tax implications, though.
How much do I need to earn before I have to file a United States tax return?
Please see the article on the IRS website, Do I Need to File a Tax Return?
Can I receive a tax refund even without a US tax obligation?
In some cases this is possible. There are several credits in the tax code that could result in a tax refund, even without a tax obligation.
,
How To Achieve The Flawless Playroom
You might be full of ideas for colour themes, fancy mobiles, different furnishings, comfy armchair but what about the playroom? You might find yourself being fresh out of ideas when it comes to the playroom because you’ve been focusing so much on the bedroom, but don’t worry we’re here to help inspire you again!
Where the bedroom should be a relaxing space, ready for your tots to settle down to sleep, the playroom should be full of inspiration and fun! Children are heavily influenced by their surroundings, so this is your chance to influence your kids in a positive and happy way.
Flooring
When we have kids, a lot of us are slaves to practicality and easy maintenance and usually have to put looks secondary. But what if we told you there’s plenty of practical options that look fantastic too! The most practical option has to be luxury vinyl tiles – it’s stress free properties make it the perfect addition to any playroom. It is stain, water and scratch proof, making it perfect for the playroom where these are common occurrences! It is also incredibly durable so you don’t have to worry about it wearing out any time soon.
Not only this, but LVT comes in many styles and designs as replicate natural products like real wood beautifully, that often it’s hard to tell them apart. If you’re looking for something a little more warm and homely, then laying a rug down is your best option. Whereas with a carpet if something is spilt on it it’s ruined, with a rug you can replace or remove it for a fraction of the price.
Walls
There’s nothing better than bright, though provoking colours to excite your little ones. Oranges and yellows are fantastic neutral jolly colours, or even blue – don’t be shy with these bold colours! You can also go down the route of hand painted designs on the wall, perhaps a sea or magical castle.
In terms of colours to avoid for the wall, we would’t recommend going for white or magnolia. Not only are they basic and a bit of a ‘cop out’ but kids can often draw or wipe their grubby fingers on the wall! If your walls do get marked however, then wall stickers are a great way of covering them up if you’re not ready to redecorate yet.
Furniture
The biggest part of your playroom! Make the most of the corner of the room for toy cubbies, although you can buy them, if you’re a whizz with DIY then this is the best way to approach it. This way you can custom make it for your room! Toy cubbies are very simple and the best way to keep things nice and tidy. The best thing about these is that your kids can see their favourite toys without having to rummage through draws and cupboards. Why not match these with matching shelves where you can keep books, display pictures and jolly ornaments!
Functional and entertaining components are a big yes when it comes to the playroom. Seating with storage, a bunk bed with a desk under-neath, tables with colourful boxes that slide under-neath. Perhaps a bean bag or a child’s armchair for you when your kids want some down time or drawing.
It may sound simple, but a table and chairs are a must for any playroom. It’ll encourage drawing, reading and even if your kids want to feel extra grown up and have afternoon tea!
There’s so many options with the playroom, but there’s no reason it has to always be messy! We hope these decor and storage tips have helped inspired you to give your kids the unflawed playroom.
,
6 Scenic Drives in Ireland
While it may seem like an eternity before your next sun holiday, why not explore the Irish landscape to satisfy the wanderlust in you! Experience our glorious heritage by visiting historical attractions and admiring our unrivalled coastal scenery. I’ve teamed up with Liberty Insurance Ireland to share some of our scenic drives that are sure to delight; the only thing we can’t guarantee is the weather!
Hook Head Peninsula
Located in the South East, Hook Head Peninsula offers beautiful scenery just 40 minutes’ drive from New Ross and 1 hour from Waterford City. From Tintern Abbey, you can start the Ring of Hook Coastal Drive which is less than an hour long. On this scenic road trip you will experience a host of thrilling sites such as Fethard Castle, Loftus Hall, Duncannon Village and Fort, Hook Lighthouse, Churchtown Church and more. If you feel like stretching your legs, you can visit Hook Head lighthouse, which was built over 800 years ago by William Marshal. It is the oldest operational lighthouse in the world and you can climb the 115 steps to enjoy the spectacular view from the balcony.
Dingle Peninsula
From Tralee, drive 30 minutes to Annauscaul village on winding scenic roads to visit Annascaul village, the birthplace of Tom Crean (1887-1938), the famous Antartic explorer. The pub that Tom and his wife opened in 1920 is still in business so you can pop in for refreshments before heading further west for Dingle town. From Dingle, take the R559 to enjoy the spectacular coastal scenery of the Slea Head Drive. Views of the Blasket Islands and the Skellig Islands are breath-taking as you drive through Ventry, Dunquin, Ballyferriter and Ballydavid. If you are feeling adventurous when you arrive back into Dingle, head to the north side of the Peninsula by taking the Conor Pass, down to Brandon village which is nestled at foot of Mt Brandon. Enjoy a pit-stop at Murphy’s Bar at Brandon pier before you complete the loop of the Peninsula by driving back to Tralee, through Aughacasla and Derrymore.
Inistioge & River Nore Valley
Located 25 km from Kilkenny city, picturesque Inistioge delights visitors with a beautiful drive through the River Nore Valley and is also home to the beautiful grounds of Woodstock Gardens. Woodstock is a ruin of a mid-18th century house built by Sir William Foynes, with 50 acres of formal gardens and parkland adjoining. Between 1840 and 1900, the house was extended by Colonel William Tighe and his wife Lady Louisa Lennox. The house was burnt down in 1921 following occupation by the Black and Tans but the main façade can still be seen on the grounds. The garden has been restored and maintained by Kilkenny County Council and offers a beautiful walk through the estate. Toilet facilities are available and the playground beside the car park will tire out anyone who still has energy after walking the grounds. Before you head home, pop down to Inistioge for an ice cream!
The Giant’s Causeway, County Antrim
Approximately 20 minutes’ drive from Coleraine, you can behold the spectacular Giant’s Causeway, a geological wonder where tens of thousands of interconnected stone columns were formed by cooling volcanic basalt. The Giant’s Causeway is a UNESCO World Heritage Site and a national nature reserve located on the beautiful Antrim Coast. According to local folklore, the mythical Fionn Mac Cumhaill built the causeway in order to cross the North Channel to Scotland. Onsite facilities and guided tours make it a must for anyone who wants to learn more about Ireland’s geology and heritage.
The Cliffs of Moher, County Clare
If you haven’t visited the Cliffs of Moher since your school tour, maybe it’s time to pack everyone into the car and refresh your memory. Standing 214m at their highest point, the cliffs stretch for 8 kilometres along the Atlantic coast of County Clare. On a clear day, you can see the Aran Islands, Galway Bay, the Twelve Pins and the Maum Turk mountains in Connemara. Looking to the south you can see the Blasket Islands and the Dingle Peninsula. The cliffs can be accessed 8 km from Doolin village and you can enjoy the stunning coastal scenery as you drive to Ireland’s most visited natural attraction. Onsite facilities are available to make you day more enjoyable and heed the warnings to stay on the right side of the roped-off cliff face!
The Connemara Loop
This spectacular 85 km drive is a good way to experience the landscape of North West Connemara. The loop takes you through small villages, prehistoric bog land, stunning coastal and majestic mountains. Some of the villages you’ll visit are Maam, Leenane, Killary Fjord, Lettergesh, Tully Cross, Renvyle, Letterfrack, Kylemore, the Inagh Valley and Recess. There are a variety of activities available such as abseiling, horse riding, swimming and clay pigeon shooting available enroute should you want to do more than sightseeing. The Connemara Loop is only 45 km from Galway City and the variety of changing landscape and coastal views are very pleasing to the eye!
Ireland is a treasure trove of surprises just waiting to be discovered! We have so many areas of natural beauty and historical importance on our doorstep that should be experienced, so put one of these drives on your to-do list. Let your car take you on a new adventure! If you want to discover great car insurance while you get a car insurance quote online today.
,
Looking after your health as a digital nomad
In the excitement of planning to work and live abroad, it is easy to forget about your health and wellbeing. This is particularly true if you are young and don’t get sick often. However, popular destinations for digital nomads with lower costs of living may also have less developed health care systems. I’ve teamed up with Allianz Care to bring you some practical steps you can take to protect yourself from illness abroad.
Preparing to travel
Medical check-up
Schedule a thorough medical check-up six months before you leave your home country to ensure there are no underlying issues you are not aware of. Your doctor may check your:
- Blood pressure
- Cholesterol
- Blood profile
- Respiratory system
This is also a good time to discuss vaccinations and any medication you may be taking. Your doctor should be able to advise you on both.
Medication
If you take regular medication speak to your doctor about its availability in your destination country. If you will not be able to get the medication you take at home; consider bringing a supply or ask your doctor about an alternative that may work for you.
What vaccinations do I need as a digital nomad?
If you are travelling to one of the more popular digital nomad destinations, you may need a booster or additional vaccinations to stay healthy and well. The vaccinations you need will depend on the country you are travelling to.
Travel vaccinations protect you from tropical diseases that may be present in your destination. The most important thing to remember is vaccinations need time to take effect. It is important to know what vaccinations you need well in advance. Some require 90 days or more to work so do your research early.
Popular diseases to vaccinate against include:
- Yellow fever
- Hepatitis
- Typhoid
You may also need to take anti-malaria medication while you are abroad.
Dental check-up
Don’t forget to look after your teeth. The last thing you need is a nasty toothache in your first few months living as a digital nomad. Have any dental work you need completed before you go. It is also worth researching dentists in your destination country.
International Health Insurance plans
It is important to know standard travel insurance may not be adequate to cover living and working abroad. In order to have health cover while you work remotely you need to take out expat health insurance. Research medical insurance plans carefully as cover can vary.
When you get there
When you arrive in your destination here are some steps you can take to protect your health.
Drinking water
Tap water in many tropical countries is not safe to drink. Buy bottled water for drinking and brushing your teeth. When you are eating out avoid ice in drinks and foods that may have been prepared or washed in tap water like salads or uncooked vegetables.
Eating safe food when travelling
One of the best things about living and working abroad are the culinary delights that await you. There is a lot of great food to be enjoyed but be careful. If hygiene standards are not what you are used to, you run the risk of becoming ill. Take the following precautions to stay well:
- Ensure food is freshly cooked
- Avoid unpasteurised dairy products
- Peel or wash fruit before you eat it
- Avoid undercooked or raw meat and seafood
Find a doctor
As a digital nomad, finding a doctor before you need one is worthwhile. That way if you do become ill, you know where you can get help straight away. Check the fine print to see if your medical insurance covers some or all of the cost of visiting a doctor while abroad.
It is also important to familiarise yourself with your local hospital and emergency department. Have an emergency plan, know the phone number to avail of local emergency services and research options for getting to an emergency room in the event that ambulance or other emergency services are not available in your destination.
Many popular digital nomad destinations do not have the healthcare infrastructure you may be used to at home. That’s why its important to plan for the unexpected and ensure you have an international health insurance policy, so you can access the best healthcare available no matter where you are in the world.
,
Fun Facts About Florida
Florida warmly referred to as the sunshine state, is situated in the southeast of the US, home to many magical and enviable destinations. Florida boasts on average an impressive three hundred days of sunshine annually, which is definitely something to smile about!
It is no surprise that Florida has a dense population, with its stunning weather and happy environment. That being said, there is plenty more to know about Florida!
This piece will discuss some of the fun facts of Florida!
Florida is Close for Great Weekend Destinations
It is always great to be central because it means that getting to places can be so much quicker when a drastic change of scenery is needed. Florida is close to Orlando, Miami, Naples, and Fort Lauderdale. All hailed for being excellent weekend break destinations. If a weekend break is something that is on the brain, then why not have a look for some low-cost flight deals, check out offers on transfers, book airport parking with a service such as parkon.com and go and explore! Visit the exciting water parks of Orlando, indulge in the vibrant nightlife of Miami or enjoy the long, peaceful beaches of Fort Lauderdale, where there is even the option to rent a charter or hop aboard a cruise to watch dolphins!
The Population Continues to Grow in Florida
Despite its already jam-packed population, it is still a very sought out destination when it comes to picking a new location to live in. Over one thousand people move to Florida every single day, with an outstanding twenty million already calling the place home. It is no surprise that the weather is the culprit for drawing in new residents, with the extremely mild winters and glorious sunshine all year round.
“Florida has three unique national parks that locals and tourists can enjoy”
Florida is Home to Three National Parks
National parks might not be the first things that spring to mind when thinking of Florida, but this sunshine state harbors three of them. Each unique in its own right, and all worth visiting, these National parks need to be caught at the right time, as they are not open all year round.
- Dry Tortugas – Dry Tortugas is a stunning national park with excellent underwater life and a vivid military history. It is also an excellent park for animal and wine lovers too!
- Biscayne National Park – Biscayne National Park is one of those hidden treasures. Maybe not particularly impressive at first glance, it features a long coast with several small islands. What is not seen is the fact that Biscayne National Park is a shocking 95% underwater! This makes the park a perfect place for water sports such as scuba diving, or snorkeling amongst the crystal-clear waters, apart from making friends with all the sea habitants!
- Everglades – Everglades is the perfect national park for those who enjoy marshlands, and Pine Flatwoods, home to thousands of animal species.
“Take a weekend break from central Florida for a great change in scenery.”
,
How to Pack a Suitcase
Travel is the word on so many people’s lips these days! From sandy beaches to cooler getaways, an important thing to consider is how much you’re bringing with you- and what you’re picking to pack.
Regardless of where you’re going, here are some staples and directions to follow to make sure you make the most out of your luggage.
Clothing
Your clothing choices will change based on where you’re going and how long you’ll be there. There are some basic rules, though. For every week, pack at least three pairs of paints you can interchange, and seven shirts. If you’re going somewhere cooler, make sure to pack for layers- but don’t bring too many coats since they can take up space.
If you’re staying in a hotel, regardless of the weather, chances are there’s an indoor pool or hot tub to use. Pack at least one swimsuit, more if you’re going somewhere tropical, so you at least have the option should the chance to swim come up. Nothing’s worse than trying to find a swimsuit in New Jersey in the winter because you want to get in a hot tub.
Toiletries
As important as square footage is when looking at Newark houses for sale, you should remember to pack at least your toiletries. Staples to remember are deodorant, toothpaste, toothbrush, body wash, and shampoo. Other things that can be important to remember are q-tips and face wipes. Take your time to think about the items in your daily life that you need. If you don’t want to take a full bottle of lotion or shampoo, there are travel-sized refillable bottles that will make sure you don’t have to take the whole thing.
Unforgettables
These are things you should travel with, without exceptions. Your charging cords for whatever electronic devices you’re bringing- from phones to laptops, is essential. Any medications that you need for daily use or emergency use like inhalers, aspirin, or birth control, have to be packed. If you’re not sure what you use in a week, take notes throughout a typical week in your life, and pack what you find yourself grabbing.
Bring extra plastic bags, or tote bags, to make sure you have somewhere to put your dirty laundry or wet swimsuits.
How To Pack
Clothes should be at the bottom of your bag. The best way to conserve space is to fold them into long thin rectangles, and then roll them from there. You can even pre-pack outfits by rolling shirts, pants, underwear, and socks together in a convenient roll to grab out in the morning. If you’re going by plane, pack your toiletries in whatever container you want to transport them in, and then put that container in a plastic bag and tightly tie it closed.
More important things should be in the zipped-closed side or front pockets so that it’s faster to grab them. This step will save you from the time and struggle of trying to dig something out of the bottom of a bag.
,
Tips For Building A Business From Home
Starting a business from home is not easy. Many people will try and start a business, but often enough, those who try to end up failing due to a lack of preparation or simply not having the right business idea. Here are some tips for building a business from home.
Figure Out Your Business Idea
Firstly, you want to figure out your business idea. This idea is something you’re going to take a lot of time mulling over and making sure it’s the right one to create a business with. You must be 100% confident with it, otherwise, there’s every chance that it could fail before it’s even got on its legs. Figuring out your business idea can be challenging, but it’s good to brainstorm all your initial ideas first before moving forward with one because you might have a couple of contenders. Doing your market research for each idea can help to find out whether the product or service you want to offer is available at the moment or if it’s completely unique. This is probably the most important part of the process, and its one that you want to get right. Once you think you’ve found the right one, ask friends and family for advice to get a feel from someone on the outside.
Set Up Your Home Office
Setting up a home office is one of the challenges that come from building a business from home because it’s not your typical workplace environment. You have many distractions that can come from the home environment, and if you don’t have a separate workspace, then it can definitely have its challenges. Try to create a unique space that you can keep away from your home living and get everything you need to make yourself comfortable. That includes your desk, office chair, and any other equipment or accessories that will help keep you working healthily. You might also want to add that professional element with a https://physicaladdress.com.
Organize Yourself
Getting yourself organized is important because as a business owner, there’s no one above you calling the shots. You have to delegate your own time, setting your own working hours, and making sure you’re on track for any deadlines that you have coming up. If you set yourself up properly and be organized from the start, then you’re going to have more chances of being successful than it failing.
Focus On Your Goals
Goal setting is definitely one thing you want to do in order to stay motivated and to have the direction you need when running a business. These can be a mixture of short-term and long-term goals in order to help you tick off milestones. You’re not going to have the luxury of others in your business early on in order to provide motivation and direction, so focus on these goals to keep you going.
There are going to be challenges along the way, but running a business from home is possible with the right idea, set up, and passion.
,
How to Avoid Letting Your Property to Bad Tenants
Tenants are a landlord’s bread and butter. Their rent money either covers the mortgage costs or provides an income for a landlord, minus costs, of course. Good tenants pay their rent on time and life is peachy, but bad tenants rarely pay their rent on time (if at all), and often cause significant property damage during their time in residence. They are also difficult to get rid of.
Experienced landlords understand the merits of only taking on good tenants. If a property portfolio is a significant part of your monthly income, you literally cannot afford to let a rogue tenant move in. Not only will it leave you out of pocket, but it will also cause you a lot of sleepless nights, stress, and anxiety.
The best way to avoid letting a property to a nightmare tenant is to implement an effective tenant screening process. This will weed out any undesirable applicants. It’s not fool-proof, but it does lower your risk.
Meet the Tenant in Person
An in-person meeting is far superior to a telephone conversation or email exchange. When you are speaking to a person face-to-face, you can read their body language and pick up subliminal clues about them. For example, if a prospective tenant claims to be a non-smoker, yet smells of cigarette smoke, be suspicious. If they say they have no pets but are covered in pet hair, it’s a dead cert they are lying through their teeth.
Cross-Check the Information Given to You
Always check any information given to you, such as their previous address, former landlords, employer, etc. Don’t assume because an applicant seems really nice and respectable, they are not lying to you. Some people are very good at pretending to be someone they are not.
Run Credit and ID Checks
Continuing on from the last point, run credit and ID checks before you accept a new tenant. If you use a property management company, they might undertake this as part of a tenant finding service.
Rental property management companies like BMG make life easier for inexperienced landlords. These rental property management companies take care of day-to-day tenant management, maintenance, and more. They screen tenants, which saves you from worrying about who you’re taking on.
Speak to the Tenant’s References
It’s customary to ask a prospective tenant to provide references. Give these references a call, so you can make sure they are legitimate. Some disreputable tenants will use a friend or relative as their reference, who then provides a glowing description of how awesome the tenant is, even though they trashed their last rental home.
Check the Applicant’s Social Media Profiles
Social media is your friend when screening tenants. Look out for photos that suggest a prospective tenant lives a party-hard lifestyle or abuses drugs and alcohol. Other red flags include photos of pets when they claim not to have any and signs they are in a relationship when they have stated they are single.
Listen to your gut when screening tenants. If something feels amiss, it probably is. Do you really want to take that risk?
,
Selling Your Home During a Recession – Crucial Considerations to Make
Recession and economic downturn can be caused by numerous factors. Today, the novel coronavirus is threatening the world economy. According to experts, properties sell at a lower price during times like this. During this time, people shy away from buying properties, which reduces demand and increases the supply. As such, property owners are left with no choice other than to set a lower price when selling a home.
If you have to sell your property at this time, there are important considerations to make. This article will guide you on the major ones to avoid a lot of frustrations or incurring a big loss.
Must You Sell Now?
As mentioned, a recession period is a bad time to want to sell a home. There are only a few buyers. If it is not a must to sell, experts recommend that you wait. However, a financial emergency or change in location might force you to sell, and you may be left with no other option. For situations such as this, it’s worth keeping in mind that home buyers – such as those found at https://webuyhousesinatlanta.com/ – offer an alternate method to selling up should you find that going down the traditional selling route isn’t viable. Nevertheless, it is ultimately more of a personal decision than timing the recession.
Setting the Price Right
Houses with exaggerated prices during a recession seldom sell fast. Set a price that will give buyers value for money while keeping in mind that it is a hard economic time. There are always projected prices and a professional seller such as Home Flippers can help you to value your home. If possible, stage the property through moderate renovations and remodeling to avoid higher and unreasonable prices.
Make the Home Ready
Almost all home buyers are looking for a move-in ready home whether there is a recession or not. Sellers cannot afford to ignore this factor when selling during a recession. Renovate, remodel – you can add steel buildings to update your home, settle any pending disputes, and prepare all of the documents before engaging the buyers. If there is a heavy renovation budget that will shoot up the price, it is time to make the right decision as we have mentioned earlier. Some sellers prefer to sell the home as it is but for a lower amount. This could be your choice, especially if you do not have money to renovate.
Prepare All of the Documentation
Buyers will use any excuse not to buy your home now that the supply is high. Little mishaps will put them off, especially if there are numerous alternatives. Preparing all of the documentation, especially non-disclosures, will entice them and see you as a genuine seller. If possible, use a professional home-selling agent to go through this process and offer to incur all of the costs that are involved. Make the process as simple and straightforward as possible. After all, it is the most ethical way to sell a home.
Conclusion
Before selling a home during an economic recession, you have to have the above considerations in place. Ultimately, seek the help of professionals to avoid making costly mistakes. Remember that recession affects all sectors and the services that you hire to prepare your home for sale should be relatively low as well. Thus, it should not take such a toll on you.
,
4 Tips for Sprucing Up Your Home
With travel on the back burner right now, most of us are spending so much more time at home than usual. This is a wonderful opportunity to connect with loved ones, but it’s also a great time to get your home in the condition you want it to be in. Whether you’re concerned about the look of the exterior of your home or are wondering about ways you can make it more comfortable, I’ve got a few suggestions that are sure to help. Read on for 4 tips for sprucing up your home to add value and make you fall in love with it again.
1. Pressure Washing
Over time the exterior of our homes will end up with a layer of dirt, it’s just inevitable. Even if you have a dark paint colour, you’re likely to notice build up over time. Opting for a new layer of paint can be very expensive and time-consuming, as well as not even necessary. Instead, you can hire professional pressure washing services that can completely transform the look of your home. If you’re located in the Destin, FL area then you’re probably going to be looking for a pressure washing service on HWY 98. Working local means you can support a smaller family-owned business and be assured you’re going to get personalized service.
2. Think About Your Outdoor Area
Right now most of us are at home, trying to ride out the virus situation. Depending on where you are, you may be unable to go out and visit friends and family as usual. This means the spaces in your home are more important than ever. Look to your yard area, do you have a nice seating area so you can enjoy being outside? Maybe you’ve always wanted to invest in your garden but haven’t had the free time. Well, now you do! This is the perfect time to make your outdoor area somewhere you love being.
3. Cut the Clutter
This is one of my favourite ways to spruce up your home because it doesn’t cost a cent, in fact, it can even make you money. If you’re anything like me, then you have a habit of holding onto things much longer than you need them, which results in plenty of clutter in your home. I’m pretty bad at doing this with clothing, holding onto things I no longer like or fit, just because maybe “one day” in future I will. Deciding to cut the clutter is a great way to clear yourself of things that no longer serve a purpose in your home. You can donate them to people who really need them, or sell them to make an extra buck or two. You may be surprised to see how much your space is transformed once you have gotten rid of the things that don’t really serve you.
4. Put Photos on Display
We haven’t been able to see our extended family for over two months and while I’m grateful for video calls, it’s definitely a hard time. Why not get some family photos printed and place them around your home? With the Internet it’s so easy to print things directly on canvas, or have them arrive already framed, making it easier than ever to decorate your home with your loved ones. Having photos around your home is a wonderful way to feel closer to your family members, especially if you’re unable to see them right now.
There’s no better time than now to spruce up your home and hopefully these tips help you make some quick and affordable transformations!
