All rights reserved. Intuit and QuickBooks are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.
While cities like New York and San Francisco may soak up a lot of the travel attention, a trip to Columbus, Ohio, can offer a great getaway in the middle of the country. Columbus is a vibrant city with one of the country’s top Millennial concentrations — which means that dining, festivals, concerts, and other entertainment options are often (but certainly not always) targeted towards a youthful, energetic demographic. This large, bustling city is filled with diverse neighborhoods and communities, each with its own unique vibe.
So, check out these fun things to do in Columbus, Ohio. You’ll learn about the 10 best things to do in town, plus find tips on when to travel and how to make your visit as affordable and enjoyable as possible.
Best Times to Go to Columbus, Ohio
Consider the weather. Columbus tends to experience a nice spring (although spring and summer can both have rainy spells), and summers are warm without typically being too hot. Autumn can be gorgeous with mild temperatures.
Columbus is a city of festivals throughout the year, particularly as temperatures warm up, covering a wide range of interests and audiences. Explore ones of interest, and schedule your trip for a time that dovetails with the activities you want to attend. Bonus: Many festivals are free, ideal for the frugal traveler.
The jewel in the crown is the Ohio State Fair (ohiostatefair.com/), chock full of entertainment (including but not limited to live concerts), food, playgrounds, competitions, and so much more.
Other festivals of interest include the:
• Columbus Arts Festival columbusartsfestival.org/
• Pride Parade columbuspride.org/
• Jazz and Rib Fest hotribscooljazz.org/
• Dublin Irish Festival dublinirishfestival.org/
If you’re a college football fan, you’ll likely love visiting Columbus in the early fall and being surrounded by serious pigskin energy among some of the most passionate fans in the land. You’ll encounter tailgate parties, pep rallies, and random people on the street, shaping and shouting the letters “O” and then “H” before listening to people holler back and shape with their arms the letters “I” and then “O.”
Unlimited 2% cash back rewards* and no annual fee.†︎
Earn 3% cash back on up to $12,000 in purchases your first year when you set up direct deposit through SoFi.** After that, earn 2% unlimited cash back on everything.*
Recommended: Credit Card Miles vs. Cash Back
Bad Times to Go to Columbus, Ohio
Two factors may cause you to reschedule: weather and traffic. From November through February, temperature can be darned cold with ice and snow often in the forecast. If you are flying into Columbus at that time of year, you may want to see if your credit card travel insurance will cover you, should your flight get significantly delayed or canceled.
March can be pretty chilly, too. Plus, if you aren’t going to Columbus for Ohio State-related activities, you might want to avoid steer clear; roads can be congested with restaurants, bars, and other venues likely to have long waiting times.
The same can be true when students are coming and going at the beginning and ending of semesters and when fair goers are flocking to the Ohio State Fair.
Average Cost of a Columbus, Ohio Vacation
Costs will vary based on how you’ll get there: driving, for example, or flying. If the former, current gas prices will play a role; if the latter, it’s wise to look into how to get cheap flights.
Here are more specifics:
• If you’re traveling solo, expect to pay about just about $900 for a week’s trip. What you’ll spend, of course, depends on where you’ll stay and whether it’s a budget inn or a more luxurious hotel; where you’ll eat; and admission prices to anywhere you choose to visit.
• No matter how frugal or freewheeling you plan to be, it’s helpful to know how to save money for a trip. You can then enjoy yourself without worrying that you don’t have enough cash for what you’d hoped to do.
• The average price for a hotel room for a couple is $115 and, altogether, the average price of a trip for two is about $1,800 although the same caveats exist as described above. Here’s how to save money on hotels so you’ll have more in your pocket for dining, sightseeing, and so forth.
• Using your credit card and taking advantage of credit card rewards can help with expenses, leaving you more for discretionary spending.
• Columbus has walkable sections and an excellent public transportation system (more on that below). However, if you are looking to zip around from one end of the city to another, you may want to look into renting a car and add the amount needed to the goal you are saving in your travel fund.
Recommended: Where to Find “Book Now, Pay Later” Travel
10 Things You Must Do in Columbus, Ohio
Columbus truly is an exciting, diverse city — and so, when you visit for the first time, it just makes sense to enjoy that variety: art, music, science, nature, history, sports, architecture, shopping, and good eats. Then, when you return, you can explore the kinds of places you appreciated in more depth.
Here are 10 of the best things to do in Columbus, culled from top-rated online reviews and in-the-know travelers.
1. Tour Franklin Park Conservatory and Botanical Gardens
Stroll through 13 acres of lush gardens, exotic plant life, and seasonal beauty while also viewing art exhibits and cultural presentations. Attend a class — whether arts and crafts, culinary, gardening and so forth — and visit the iconic 1895 John F. Wolfe Palm House. fpconservatory.org
2. Revel in Some Art
To soak in more beauty, visit the Columbus Museum of Art, which focuses on outstanding American and European works of art from the late 19th and early 20th centuries: paintings, photography, folk art, glassworks, and more. Frequently changed special exhibits ensure that each visit can be fresh and interesting. columbusmuseum.org/
3. Explore German Village
This is a unique neighborhood where German settlers arrived in the mid-1800s, and it’s now one of the country’s largest privately funded historic districts. Homes from the 1840s to 1890s are preserved — not recreated — and visitors today can stroll through the neighborhood, appreciating the architecture and shopping and dining. germanvillage.com
4. Visit Capitol Square
Another fun thing to do in Columbus is to see its seat of power. Located just eight blocks from the German Village, Capitol Square includes the Ohio Statehouse, Senate Building, and Atrium where public tours are offered. The stunning Statehouse is designed in the Greek Revival style, a popular choice in the early and mid-1800s because democracy was born in Ancient Greece. ohiostatehouse.org
5. Cheer on the Team at Ohio Stadium
Ohioans love their Ohio State Buckeyes football team with its 39 Big Ten Championships and eight National Championships. Getting tickets to a game wouldn’t be easy, but the stadium itself is a sight to see, the fourth largest on-campus football facility in the nation with a seating capacity of 102,780. Since opening day in 1922, more than 36 million people have watched games here: ohiostatebuckeyes.com/sports/m-footbl/facilities/ohio-stadium/
6. Shop Til You Drop
Imagine more than 1.7 million square feet of shopping, dining, and entertainment venues with plenty of open air squares, parks, and fountain — and that’s Easton Town Center. This is one of the leading urban retail centers in the country with more than 30 million annual visitors and 200 retailers (including Gucci and Tiffany).eastontowncenter.com/
7. Be Surprised by Science
When thinking about things to do in Columbus, Ohio with kids, COSI Center of Science and Industry) jumps in front of mind. From skeletons of giant dinosaurs like T. Rex and pterosaurs to a planetarium that helps children and their families to explore space, COSI is full of engaging science exhibits and interactive experiences. The Big Science Park is perfect for play and the Little Kidspace is ideal for fun exploration.cosi.org/
8. Time-Travel at Ohio Village
Need another top 10 thing to do in Columbus, Ohio? Step back in time to see what village life in Ohio was like in the 19th century, watching artisans demonstrate old-fashioned skills. You can also tour period homes and other building, try circa-1800s activities yourself (which are also fun things to do in Columbus with kids), and perhaps watch a game of “base ball” using rules of the era, ohiohistory.org/visit/ohio-village/
9. Indulge in the Arts
This state-of-the-art center offers culturally diverse performances and provides art education in a 1928 building that was created and managed solely by African Americans. Jazz fans: This is a landmark location for this stellar form of music while also serving as a modern center for multiethnic and multigeneration arts. lincolntheatrecolumbus.com
Enjoy the Riverfront
When looking for free things to do in Columbus, Ohio, no trip is complete without a stop at the Scioto Mile. More than 175 acres of gorgeous parkland stretches along the riverfront in the heart of downtown Columbus. Besides being an ideal place to walk and bike, you can enjoy urban festivals, listen to outdoor music, and much more. If you’re traveling with a pet, this can be a terrific place to spend an afternoon. sciotomile.com/
Advice on Getting Around
Many of these fun things to do in Columbus, Ohio are located in or near downtown, but this is a large, sprawling city of more than 225 miles in size — the biggest city in Ohio. So, when planning your trip, map out where you’re going to ensure that you’ll spend less time traveling from one spot to another and more time enjoying the sights. Although most attractions are open year round, check to ensure the ones you want stay open through the winter.
Although individual areas and neighborhoods—such as German Village, Ohio Village, Franklin Park Conservatory and Botanical Gardens, and the Scioto Mile are all quite walkable, getting from one section of the city to the next requires transportation. Fortunately, the Central Ohio Transit Authority (COTA) provides bus service; in 2018 and 2020, COTA received the American Public Transportation Association’s Outstanding Public Transportation System Achievement Award. cota.com/
The Takeaway
The best things to do in Columbus, Ohio will depend on your taste, interests, available time, and budget — but one thing is for sure: This vibrant city is filled with places to visit and activities to enjoy. Our list of the 10 best things to do in Columbus, Ohio is a great starting point, and then you can branch out from there. From museums to parks to historical sites and excellent shopping, this city has something (or more) for everyone.
FAQ
Is Columbus a walkable city?
Plenty of neighborhoods and venues are quite walkable and, whenever that isn’t practical, the city has an award-winning public transportation system. Some of the best free things to do in Columbus, Ohio, include parks and gardens, each of which is walkable for most people.
What food is Columbus, Ohio, famous for?
Foods include the Columbus-style pizza with thin crusts with toppings right up to the edge, then cut into squares. Buckeye candy — peanut butter and chocolate in a buckeye shape — are in demand. So is the peanut butter and chocolate doughnut from Buckeye Donuts.
Is Columbus, Ohio a fun city?
With its hipster-urban vibe and a plethora of fun things to do, the answer is “yes”!
Photo credit: iStock/Sean Pavone
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances. SoFi cardholders earn 2% unlimited cash back rewards when redeemed to save, invest, or pay down eligible SoFi debt. Cardholders earn 1% cash back rewards when redeemed for a statement credit.1 The SoFi Credit Card is issued by The Bank of Missouri (TBOM) (“Issuer”) pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. 1See Rewards Details at SoFi.com/card/rewards. Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners. SOCC0223025
Save more, spend smarter, and make your money go further
Earlier this month I had a major #fangirl moment. It was a full #fangirl evening, in fact, when I teamed up with New York Times bestselling author and Girlboss founder Sophia Amoroso to share in a very special money event.
In partnership with Mint, Sophia and I hosted a panel of four trailblazing entrepreneurs to have an “impolite” conversation about money. The audience heard from Mackenzie Barth, founder of Spoon University (which recently got acquired by Scripps Networks), Lisa Price creator of Carol’s Daughter, a multi-million dollar beauty brand, fashion entrepreneur Nina Faulhaber and Wing Yau, acclaimed jewelry designer.
The only rule for the evening was to be brutally honest. So, we went deep. We talked about our financial hang-ups, our money mantras, how we spend and save, as well as our money wins and losses.
While there were many takeaways, as moderator, I picked up on a few common threads – impolite “rules” – that ran through many of the stories shared. Here are my 5 favorites.
The panelists, a row full of successful entrepreneurs who seem to have a great handle on life and work, admitted that money can sometimes make them feel scared or anxious. In some cases it’s because, as business owners, they don’t always earn a consistent paycheck. In other cases they may not know the best way to save or invest. From time to time, they have doubts, insecurities and fears.
The room was full of nodding heads.
We all can get a little (or a lot) emotional over money, right? The topic triggers all sorts of feels, depending on our upbringing and life experiences. And that’s ok. Emotions provide context for how and why we the make decisions we do. On the panel, some grew up wealthier, while others remember living paycheck to paycheck. Each experience left them with a unique set of money emotions.
Rather than keep them bottled up, these women embraced their feelings. They shared them and through that discovered they weren’t alone and received acceptance and support.
To help us jump over our emotional hurdles, we need to arm ourselves with facts.
The panelists talked about how they continuously seek knowledge and answers to guide their decision-making. They need to make informed choices around saving money, using credit, taking on loans and building financially sound businesses. If they don’t know something, they’ll ask experts and advisors to find out. There’s no sense in guessing.
#3 You’re More Money Savvy Than You Think.
The voices in our head may be telling us that we’re not good enough or smart enough with numbers to manage our money well. Ignore the noise and realize it’s not that difficult. You may face a learning curve when it comes to budgeting, investing and expense tracking, but sometimes the only thing getting in the way is a bad mindset.
Panelist Wing Yau, the founder of WWake, is an artist first and businesswoman second. Like fellow artists, she admitted that she wasn’t exactly hard-wired to know how to analyze a profit and loss statement or manage the financials of her business. Money was an overwhelming topic, at times. But Wing insisted on learning how to manage her company’s books through research and seeking help, as well as trial and error. The process not only left her more educated. It gave her the confidence to fully tackle her business.
You can’t possibly know it all. And you shouldn’t go it alone. Each panelist credited friends, advisors and partners in giving them the support and feedback they need to make smart money moves, as well as business decisions.
Having an accountability partner, someone to keep you motivated and on track, was also critical.
For example, Nina Faulhaber, co-founder of ADAY, an active wear startup, recalls meeting with Sophia Amoruso prior to launching her fashion business to ask a laundry list of questions. Nina was coming from the finance world but knew very little about the fashion industry. Sophia was more than helpful, providing feedback and connecting her with other key people in the clothing world to offer guidance and mentorship.
So now that they’ve established successful businesses, are friends and family coming out of the woodwork asking for money or help? In some cases, yes, the panelists admitted.
But if there is one money rule Lisa Price, founder of the uber successful beauty line Carol’s Daughter, lives by, it is to never lend money. “Only give what you can gift,” she said. In other words, never give money to anyone with the expectation that it will be returned. Instead, offer it as a gift to avoid resentment or disappointment, since, as we know, many personal loans can go awry.
Save more, spend smarter, and make your money go further
Previous Post
Ask Farnoosh: Negotiating Debt Payments
Next Post
Mint Money Audit 6 Month Check-In: Was Ken Able to…
Editor’s Note: Freddie Mac, which has tracked weekly average mortgage rates since 1971 and has periodically made changes to its Primary Mortgage Market Survey, changed the source of its data as of November 17, 2022. Instead of surveying lenders, the weekly results will be based on applications received by lenders that are submitted to Freddie Mac. Find more about Freddie Mac’s change here.
Mortgage rates dropped sharply last week following a series of economic reports that indicated inflation may finally be easing.
The 30-year fixed-rate mortgage averaged 6.61% in the week ending November 17, down from 7.08% the week before, according to Freddie Mac, the largest weekly drop since 1981. A year ago, the 30-year fixed rate stood at 3.10%.
Mortgage rates have risen throughout most of 2022, spurred by the Federal Reserve’s unprecedented campaign of hiking interest rates in order to tame soaring inflation.
In the last week, two key inflation reports – the Consumer Price Index and Producer Price Index – showed that prices rose at a slower pace than expected in October, suggesting inflation is inching in the right direction, and has perhaps even peaked.
“While the decline in mortgage rates is welcome news, there is still a long road ahead for the housing market,” said Sam Khater, Freddie Mac’s chief economist. “Inflation remains elevated, the Federal Reserve is likely to keep interest rates high and consumers will continue to feel the impact.”
The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. The survey only includes borrowers who put 20% down and have excellent credit. But many buyers who put down less money upfront or have less than perfect credit will pay more than the average rate.
Inflation appears to be easing
Investors saw last week’s lower-than-expected CPI data as an indication that the Federal Reserve may make smaller interest rate hikes in the months ahead, said George Ratiu, Realtor.com’s manager of economic research.
While the Fed does not set the interest rates borrowers pay on mortgages directly, its actions influence them. Mortgage rates tend to track the yield on 10-year US Treasury bonds. As investors see or anticipate rate hikes, they make moves which send yields higher and mortgage rates rise.
“The 10-year Treasury dropped from 4.15% last Wednesday to 3.68%, as capital markets seemed to cheer the slowdown in inflation as a sign that the Federal Reserve’s monetary tightening is having its intended effect,” Ratiu said.
Even though inflation data is moving in the right direction, the Fed has said it does not expect to back off of raising rates until inflation gets closer to the desired target of 2%.
Still, the downshift in mortgage rates over the past week has brought a sliver of relief to buyers, said Ratiu.
A buyer purchasing the median-priced home with a 20% down payment at last week’s average rate of 7.08%, was facing a monthly payment of about $2,280, according to Realtor.com. At a rate of 6.61%, the same buyer would see their payment fall to $2,174. While the $100 in savings a month may not seem like much, over the course of a 30-year loan, the buyer would save close to $48,000 in interest.
Those savings spurred some home buyers to sweep in and lock in a lower mortgage rate.
Mortgage applications increased for the first time in seven weeks, according to the Mortgage Bankers Association, with both purchase and refinance applications up.
“Signs of slowing inflation pushed mortgage rates below 7% for the first time since mid-October, but with rates still relatively high and affordability correspondingly reduced, the average loan amount is now at its lowest level in nearly two years,” said Bob Broeksmit, president and CEO of the MBA.
Affordability challenges persist
Affording a home remains a challenge for many home buyers. Mortgage rates are expected to remain volatile for the rest of the year. And prices remain elevated in many areas, especially where there is a very limited inventory of available homes for sale.
Meanwhile, inflation and rising interest rates mean many would-be buyers are also facing tightened budgets.
“For consumers, quickly rising prices have added significant financial pressures, especially as inflation erodes any wage gains,” said Ratiu. “The Fed’s rate hikes are directly tied to higher interest rates for credit cards and car loans, which along with higher mortgage debt, adds additional burdens to household finances.”
More than 20% of listings have seen price cuts, as sellers adjust their strategy to meet buyers in a changing financial landscape, according to Realtor.com.
“On one hand, sellers have been coming to terms with the fact that homes priced for the housing market we experienced when rates were at 3% leave very few buyers able to manage the mortgage payments with today’s rates,” said Ratiu. “On the other hand, buyers may hesitate to move forward with transactions if they find the erratic nature of current mortgage rates disconcerting.”
The volatility in mortgage rates is not expected to let up in the near future, causing uncertainty for both buyers and sellers.
“With inflation still north of 7% and the Fed committed to keep increasing the funds rate over the next few months, the mortgage market is not out of the woods,” said Ratiu. “We may still see rates rebound back above 7% before the end of the year.”
On Tuesday evening I gave my first-ever presentation about personal finance. I spoke to a group of about 70 graduating seniors from Western Oregon University. My talk went okay. It wasn’t terrible, but it certainly wasn’t good. It’s a start. I learned a lot, and I’ll do better next time.
I was the fourth and final speaker of the evening, though. Before I talked about personal finance, three WOU alums spoke about life after college. While my talk might have been mediocre, theirs were outstanding.
Brian Reick
The first speaker was Brian Reick, who described his experience moving from job-to-job. He began knocking on doors right out of school and eventually found work. But the job wasn’t perfect, and neither was he. He was fired after only two years. This experience taught him a couple things:
A job is not a marriage. It’s not “for better or worse”. It’s only for better. If it’s not working out for you or the company, then move on.
Treat your time as an investment. It’s more important to invest your time wisely than to invest your money wisely.
Later in his career, Brian found himself working in a job he didn’t like. He made a promise to himself: “I told myself that if I wasn’t happy with my job one year from that day, I’d leave. That was the best decision I ever made. After a year, I knew it was time to go. It was more important for me to be happy than to chase dollars.” Two other life lessons Brian shared were:
The people you work with are more important than the company. You want to work with people who have high integrity, people you can trust. It’s nice to work for a great company, but it’s better to work with great people.
Don’t rationalize your decisions. As you move through your career, don’t stay in situations that make you unhappy just because you think you’re obligated. Take some calculated risks.
Ron Clark
Next we heard from Ron Clark, a Portland lawyer. Ron shared three major points:
What you studied in school does not matter. Students should major in subjects they enjoy. They should pursue learning. One of Ron’s colleagues is a brilliant lawyer who has a degree in music. He knows a judge with a degree in pharmacology. Your degree does not matter.
Self-discipline is the common denominator among the successful. In order to get into college and to earn a degree, one must exercise delayed gratification. This doesn’t end after school. Delayed gratification and self-discipline are necessary for continued success in life.
Be willing to do grunt work. By doing the entry-level jobs, you’re building skills necessary to move up. As you progress in your career, find things in each job to be passionate about.
Celia Kimbrough
The third speaker was Celia Kimbrough, a professional photographer. As a single mother, Celia applied for the interpreting program at Western Oregon University. She was one of 72 applicants for 16 spots. She didn’t get in — she didn’t let it bother her. “I’ve failed at a lot of things in life,” she says, “but they’ve made me who I am today. It’s okay to fail.” The important thing is to be working toward something, to have a goal.
Still, you should always keep your mind open for other options. Don’t be so locked into your goal that you miss opportunity knocking on the door. Sometimes life will lead you in directions you don’t expect. When she didn’t get into the interpreting program, Celia pursued a degree in Natural Sciences. She wanted to be a teacher. But then life led her in another direction, and now she owns a successful photography studio.
“You’ve got to find your passion,” Celia says. “I changed my major six times. That’s okay. Everything you do leads you to the person you’re becoming. As long as you have some goals, you’ll be fine.”
Celia stressed that it’s important to think about the sort of life you want to live. Some of what she said reminded me of Tim Ferriss’ notion of lifestyle design, building your life and career around what you want to do. Entrepreneurship has allowed her to construct a fulfilling life.
“What’s important to you?” she asked asked the students. “Make your choices based on that. I wanted to be excited about what I do every day. If you’re complaining about what you’re doing, then try something else.“
J.D. Roth
To conclude the program, I gave a short presentation on personal finance. Again, this was the first such talk I’ve given, and it was pretty rough. I actually tried to stress some of the topics Get Rich Slowly readers suggested last Monday:
Develop a basic budget. It doesn’t have to be fancy. Whatever you choose to do, make it a goal to set aside 20% for saving and investing. This sounds like a lot, but if you can start the habit young, it’ll be easier. (And will yield greater returns in the long run.)
Avoid lifestyle inflation. As your income increases, it’s tempting to increase your spending in proportion. The more you can resist this urge, the more successful you will be with money.
Do what you love. A low-paying job that leads to future prospects in a career you like is better than a high-paying job in a career that doesn’t move you in the right direction. Never stick with a shitty job. It’s easier to change jobs now than it will be in five or ten years.
The less you spend, the more flexibility you have. When I graduated, I bought a new car and developed credit card debt. I had to take any job I could find because I was tied to monthly payments. When my friend Sparky graduated, he had a lot of freedom. His debts were minimal. He traveled the U.S., taking whatever job struck his fancy. He spent time in Mexico. He spent five months traveling southeast Asia. He was able to do these things because he didn’t have expensive obligations.
With my speech, I handed out a one-page guide to personal finance, which contained supplementary material.
Conclusion
I felt pretty geeky during this dinner. When the first speaker began, I pulled out my pad of paper and started jotting notes. I couldn’t help it. Though these talks were ostensibly aimed at the graduating seniors, there was plenty of valuable information in them for anyone.
I was surprised and happy to discover that one theme seemed to shine through in all four presentations. Money’s a great tool, each of us said, but it’s not the only thing in life. It’s not even the most important thing. We each in our own way stressed one point above all: It’s more important to be happy than it is to be rich.
In the past, I’ve shared the story of the worst job I ever had. In a lot of ways, it felt like I was part of a pyramid scheme or multi-level marketing operation. I’ve been approached to participate in similar operations since then: once by my veterinarian (?!?) and once by a stranger in a book store. Sometimes you cannot tell a scam is a scam until you see it up close, and then the sunk-cost fallacy will sometimes force you to make a poor choice. GRS reader Bozemblem recently sent me this story of his close encounter with a “business opportunity” that turned out to be a scam.
I’ve been reading Get Rich Slowly for about a year now, and I can definitely relate when you talk about your struggles and triumphs with money. Here’s an experience I recently had.
I currently work and live in one of the most expensive parts of the United States. I’m going to school part-time to get my MS in Computer Science. School is very expensive, even with my employer paying a great deal of the tuition.On top of that I’m getting married next year and I have a tiny amount of credit card debt. I do a very good job of budgeting my money; I follow it quite closely and it won’t be long before I’ve rid myself of the debt. However, as you might be able to tell, money is a bit of a concern and so I’m always looking for way to either decrease my spending (which I think I’ve done a good job of so far without going crazy) or increase my income (which is much harder to do, and it is my attempt to do so which is why I’m writing you).
Business Opportunity
The other night I was in the grocery store buying some items for my sick fiancee. Unfortunately, there was only one cashier on duty and I was one of an unusually large number of customers that night. As I waited in line, a nice gentleman in line behind me struck up a conversation.I spent some time talking to him and eventually we got around to talking about what we did for a living, and I mentioned that I am a software engineer. Upon hearing that, he got pretty excited and told me that he was a small business owner in need of someone with my skill set. Seeing this as an opportunity to possible earn some extra money, we exchanged number and he promised to call me the next week to talk about opportunities for some part-time work with his company.
Later that next week he called me, and we set up a time to meet. He told me to meet him at a hotel the next week; he and some of his fellow small business owners were part of a larger corporation, and he presented this to me as an opportunity to network and meet other people who may be interested in my skills. Cautiously optimistic, I agreed.
Well tonight I met this individual and had quite the experience. It slowly started to come together for me, and the saddest part about it is that those were three hours that I will never get back. Turns out, it was just one large pyramid scheme, and it didn’t matter if I was a software engineer or not.
Pyramid Scheme
Here’s how the operation works: you join as an “apprentice” of another member, and you maximize your profits by getting other people to become your “apprentice”. It was disguised as an “e-commerce” (sorry for the abuse of quotation marks) operation; basically you bought your home goods from this one organization instead of a place like Wal-Mart. Everyone else you got to sign up and buy those same goods from that organization would gain you some money. And when they got people to sign up, then you would get a cut of the profits as well. As soon as I had an opportunity, I left, feeling disgusted and embarrassed.
I however, was the only one. Of the other “candidates” in the room, only I left. Everyone else seemed excited. It’s not hard to see how. The speaker was very compelling; very funny and personable. He spoke of living a “lifestyle” as opposed to a life (my first red flag). Then he talked about stuff like “how would you feel if you could drive a different car…every day of the week!” He then had us list out which 7 cars we wanted. Actually, we listed out 6. Aston Martins, Rolls-Royces, etc… The 7th car he picked. And it was the car he drove, and he implied that it was through this program that he was able to afford it. I wish I could have left right then, but I was sitting near the front and although I hated myself for being there, I couldn’t bear to be rude either.
Your readers should be aware of these operations! They may sound good, and the money may be real, but it’s all top-heavy. The ones at the bottom (ie. YOU) won’t be making all that money, but you’ll help someone else do it! Beware of the charismatic speaker; this guy was really good; going so far as to say “I don’t even care if you join or not”. Implying, of course, that he’s doing us a favor, despite the fact that he wouldn’t have any money if no one signed up.
But that one statement was so powerful, and I could tell my fellow attendees were getting sucked in. That one statement created such a sense of urgency and yet indifference on his part. He was basically saying that he didn’t need us, that he can find more people, the “right” people. And he kept talking about us being “candidates”, and he spoke often of a selection process. I’m not privy to such information, but if I had to guess, I would say that we were all going to be selected.
Get Rich Quick!
That and numerous other methods were employed to give us a sense of opportunity, and give us a taste of the rich lifestyle. He was damn good at his job, and I don’t doubt that he’s made plenty of money off of his considerable talents. Oh, and don’t forget the $200 registration fee, the $150 insurance costs, and the undisclosed costs of the training materials. By the way, I only got those figures by pressing my “sponsor” until he finally relented.
It’s easy to see how people can get sucked in. Everyone else was just like me; needed a little extra cash, pressed for time and anxious to explore any opportunity, we were rip for picking. I thank goodness that my dad instilled in me a sense of skepticism, else I may have ended up with the rest of them.
Unfortunately, the road to riches isn’t that easy. It’s simple, but it isn’t quick and painless. You just gotta spend less than you earn (by prioritization and reducing the number of unnecessary “wants”), save as much as you can, diversify your investments, and constantly improve the most critical investment, yourself (through taking on a variety of tasks at your job, even if they’re outside of your typical skillset and by continuing your education). Invest in index funds, open a high-yield savings account, contribute at least enough to your 401(k) to max out your company’s match and fund your IRA; doing so will provide plenty of wealth going forward, just do the math!
A Learning Experience
There is one positive that came out of my experience with the pyramid scheme. The speaker preached constantly about how his program is different than a typical job because it gave you “freedom”. That’s not really true, it just transfers your obligations, and it provides you with a significant amount of risk if you are one of those who chose to do that type of thing full time (and there are those people).
The bright side for me was that I realized how much I hated the lack of freedom that working in a traditional career offers. And I’ve always had an idea for a real small business (as opposed to the scheme’s definition of a small business) that I’ve always wanted to open, and I’m going to start working towards that goal. I’ve been inspired to work to free myself from work, and to get to the point where I won’t be susceptible to schemes like the one I got sucked into tonight. Perhaps not the motivation these guys were looking for, but that’s what I got out of it!
Bozemblem’s experience is similar to several I’ve had in my own life. I believe he’s right: programs like this can provide income and success to those at the top, or to those who have special luck or motivation. But for most people, they’re actually a net loss. Do you have experience with pyramid schemes or multi-level marketing? Was this experience positive or negative? What advice do you have for others who might be considering this as a way to make money? Checkout line photo by szlea. Conference photo by Jeffrey Beall.
Save more, spend smarter, and make your money go further
We live in an increasingly cash-free society. While cash is still king and accepted almost everywhere, more and more people are moving away from cash. From credit cards and contactless payments, different banks and credit issuers have an incentive to make sure that THEIR card is at the top of your wallet. That can lead to an opportunity for people with the financial savvy to earn a little extra by making the most out of their credit cards.
How many credit cards should you have?
The first question you might wonder in trying to make the most out of your credit cards is how many credit cards you should have. While there is no one right answer to that question, you should consider the possibility of signing up for a new credit card. The reason for that is that the most value you will ever get from your credit card is its welcome or signup bonus.
Normally, credit cards might give anywhere from 1-2 cents (or 1-2 airline miles or points) per dollar spent on most purchases. It’s really hard to get any appreciable amount of rewards only earning one or two cents per dollar. On the other hand, when you sign up for a new credit card, the credit card company will usually offer an initial signup bonus.
An example might be earning 50,000 airline miles for spending $2,000 in the first three months of having the card. So while you’re making that $2,000 of spending, you’re earning TWENTY-FIVE miles per dollar spent. An example like that can help illustrate the power of signing up for new credit cards — it’s just so much easier to get a healthy balance of rewards this way.
How signing up for credit cards affects your credit
Before you start signing up for every credit card you see, there are a few things that you’ll want to know. One of the most common credit card questions people ask is whether signing up for new credit cards hurts your credit score. For most people, signing up for a new credit card every couple of months will not have a material impact on their credit score. In fact, the increased credit limit can actually help your credit score.
Get organized
The one thing that CAN hurt your credit score is if you aren’t organized and start missing payments on your credit card. So if you do decide to open new credit cards, make sure that you have a system in place for organization. You want to make sure that you have the financial ability and discipline to pay your credit card statement, in full, every month. If you don’t, you risk hurting your credit score, and the interest and late fees can really put a dent into any rewards that you might earn.
Using the “right” credit card
When you only have one credit card, it’s pretty straightforward to decide which card that you should use with any given merchant. You just use the one credit card that you have, every time and everywhere. If you have multiple credit cards, it starts to get a bit more complicated. Some credit cards earn the same amount of rewards no matter where you use them, while others earn bonus points in certain categories.
There are a couple of ways that you can handle using the “right” credit card. Some people just try to remember what bonus categories each of their cards have and use the right one based on their memory. Another strategy is to tape a small note to each card in your wallet with where to use it — groceries, gas, restaurants, everywhere else, etc.
An important thing to remember is that the difference between using the “right” and “wrong” credit card on any one transaction is minimal. We’re talking less than a dollar’s worth of rewards per purchase. And while every bit adds up, it’s not something to lose a whole lot of sleep over.
Maximize your credit card rewards
Once you have earned a good stash of credit card rewards, it’s time to put them to their best use. If you’re wise, you can maximize your credit card rewards without hurting your credit. A good rule of thumb is that most travel rewards are best used with the program where you’ve earned them. Delta Skymiles are best used to travel on Delta; Hilton Honors points are best used to stay at Hilton hotels.
Flexible bank rewards points like American Express Membership Rewards, Citi ThankYou points, or Chase Ultimate Rewards are more valuable because they can effectively be used in multiple ways. You can use them to pay for travel, transfer them to hotel or airline travel partners or redeem them as statement credits to help pay yourself back. Having that flexibility is a good way to maximize the value of your rewards points.
Save more, spend smarter, and make your money go further
Previous Post
How to Put That Tax Refund to Work to Build…
Next Post
Best Women to Follow for Money Advice
Dan Miller is a freelance writer and founder of PointsWithACrew.com, a site that helps families to travel for free / cheap. His home base is in Cincinnati, but he tries to travel the world as much as possible with his wife and 6 kids. More from Dan Miller
The capital city of Georgia is becoming a very popular destination lately and even has the distinction of being the only American city to land on a recent global “best in travel” list. And why not? With its warm weather, historical significance, happening restaurants, and major airport, it’s a fun, easily accessible place to vacation.
There’s a lot to do in Atlanta, from the Georgia Aquarium to the Martin Luther King Jr. National Historical Park; from the Ponce City Market (don’t miss the rooftop bar) to Piedmont Park. Here, you’ll find a list of 10 best things to do in Atlanta, Georgia, plus smart tips for enjoying every minute and staying on budget.
Best Times to Go to Atlanta
Spring and fall are usually considered the best times to go to Atlanta. Atlanta can get very hot and crowded during summer travel. For example, the average high temperatures in July and August are nearly 90 degrees, but it can feel much hotter, thanks to the city’s high humidity. Spring and fall also tend to be less crowded and have milder temperatures, while still being warm enough to spend the days outside. For example, April and October have comfortable average temperature highs in the low 70s.
A great time for music lovers to visit is at the start of summer: The Atlanta Jazz Festival is held on Memorial Day weekend, when you can expect average daytime temperatures to be in the still comfortable low 80s. However, you will also likely have to contend with higher prices and more crowds during big events on major holiday weekends.
Unlimited 2% cash back rewards* and no annual fee.†︎
Earn 3% cash back on up to $12,000 in purchases your first year when you set up direct deposit through SoFi.** After that, earn 2% unlimited cash back on everything.*
Bad Times to Go to Atlanta
Allergy sufferers may want to avoid springtime in Atlanta, as the city experiences an extreme pollen season. A visible dusting can be seen as early as January. Pollen counts peak in late March to mid-April, with cars and lawns blanketed in bright yellow pollen from oak and birch trees.
Winter is typically the slow season for tourists in Atlanta, and the city offers fewer events during this time. Because of this, hotel prices may be lower, so it may be enticing if you are looking for how to save money on hotels in Atlanta. For example, there are plenty of hotels available for $125 to $175 per night during a weekend in January.
If you do decide to visit in the winter, watch out for snow or ice in the forecast. Although frozen precipitation is rare in Atlanta, when it happens, it shuts down the city, which means you won’t be seeing the sights.
Average Cost of an Atlanta Vacation
As is the case with many city getaways, you can have a great time in Atlanta with nearly any budget. If you are visiting for a week, you can expect to pay an average of $2,419 for two people. That’s a good number to know as you decide where to keep your travel fund and start saving for your trip.
Hotels range from $100 to several hundred per night, with an average of about $180. Price depends on how fancy the hotel is, the time of year you visit, and the location of the hotel.
The pricey areas tend to be downtown and in the upscale Buckhead neighborhood. Less expensive areas include the suburbs and areas around the airport.
Beyond hotel expenses, you’ll find good news when it comes to food and entertainment. Thankfully, Atlanta is still much less expensive than other major cities like New York and Los Angeles or resort areas like Florida and Hawaii. You will eat well: There’s a vibrant restaurant scene, with everything from Indian food to soul food and back again Plus, there are loads of nightlife options, including comedy clubs and live music.
You’ll also need to decide how to get to Atlanta. Given what a major airline hub the city is, you may find affordable fares for plane tickets, though that will depend on where you are flying in from. It’s wise to learn how credit card travel insurance works when booking flights in case of cancellations, lost luggage, and the like. Then you can decide whether to purchase private travel insurance or use your credit card protections.
Worth noting, too, is the fact that the city does not have as extensive of a public transit system as some other cities. If you want to explore various sites, you may want to look into renting a car or budget for Ubering around town.
Recommended: Where to Find “Book Now, Pay Later” Travel
10 Fun Must-Dos in Atlanta
Here’s the fun part: Deciding what to do in Atlanta. There is something for just about everyone in the city. Here is a list of 10 cool things to do in Atlanta, culled from those who have traveled to the city as well as loads of online reviews of top-rated attractions. Whether you’re taking a solo trip or one with friends and/or family, you will probably find more exciting activities than you can pack into your days in town.
While we also made sure to include several free activities, make sure to capitalize on your credit card rewards and use a card that’ll bring you points, miles, or cash back when charging your trip’s expenses.
1. Spend an Afternoon at the Aquarium
The Georgia Aquarium is practically a household name and for good reason. It’s the largest indoor aquarium in the western hemisphere. It even serves as a teaching hospital for marine biologists. You’ll encounter dolphins, penguins, sharks, and gigantic but adorable whale sharks, the largest fish in the sea. Take a free self-guided tour via an app that you can download for your visit.
The aquarium is located next to Centennial Park (see below) and is open daily from 9am to 6pm Mondays through Thursdays, 9am until 9pm on Fridays and Saturdays, and 9am to 4pm on Sundays. Admission can be pricey, around $43 to $48. GeorgiaAquarium.org
2. Get Outdoors
Atlanta may be a city, but you can easily get some greenery on your trip. Piedmont Park, for instance, is a huge park located in midtown Atlanta (between downtown and Buckhead) that offers trails for walking, running or biking, picnic locations, ponds, greenery, and wildlife. Arts festivals, music festivals, concerts, and farmers markets take place throughout the year, adding to the fun. And may we mention that it’s a great destination if you are traveling with pets? It’s a free thing to do in Atlanta and is open daily from 6am to 11pm. piedmontpark.org/
Or check out the adjacent Atlanta Botanical Garden, a 30-acre natural delight with a canopy-level footbridge, suspended 40 feet above lush woodlands, and a Japanese garden. It’s open every day but Monday, and admission ranges from $23.95 to $34.95. atlantabg.org
3. Enjoy an Urban Mall
Ponce City Market is a super-fun food and retail hub (there are even some apartments plus office space there) tucked into a circa-1926 Sears & Roebuck building. Located in the Old Fourth Ward neighborhood along the BeltLine (see below), there are local “shop-small” boutiques, with cards, crafts, jewelry, denim, and more, along with national retailers like Sephora and JCrew. Great food abounds inside in the a/c’d premises, whether you’re looking for a latte or yakitori. And don’t miss the rooftop bar and amusement park. Open from 10am to 9pm Monday through Saturday; on Sunday, the shops are open 10am to 6pm and the eateries from 10am to 8pm. poncecitymarket.com/
4. Stroll the BeltLine
The Atlanta BeltLine is an amazing urban revitalization project: It’s a former railway corridor that is being transformed in part into a public path that has art, planting, parks, and attractions. While the complete loop is not fully paved yet (it is expected to be finished around 2030), sections are available for strolling, running, and biking. The BeltLine connects popular locations like Ponce City Market and Piedmont Park, and, since it’s free, can be a way families can afford to travel. Events are held throughout the year, including fitness classes, art events, and concerts. beltline.org/places-to-go/ or consider a bus, bike, or walking tour beltline.org/things-to-do/atlanta-beltline-tours/
5. Visit the Soda Headquarters
Coca-Cola has been advertised as “the pause that refreshes,” so you might enjoy a refreshing pause by visiting the company’s World of Coca-Cola, near the Georgia Aquarium. Coke was invented in Atlanta in 1886, and its global corporate headquarters are still located in the city today. The World of Coca-Cola, which highlights the brand’s history and the soda industry, features a pop-culture museum, a 4-D theater, replica soda fountains, and beverage dispensers where you can try dozens of sodas from around the world. Ticket prices range from $15 to $19, and the attraction is open from 10am to 5pm on Mondays through Thursdays, and 10am to 6pm on Fridays through Sundays. worldofcoca-cola.com/plan-your-visit
6. Honor Martin Luther King Jr.
This park is a great way to remember a great man: It preserves the home where Martin Luther King Jr. was born and raised, as well as the Ebenezer Baptist Church, where he was once a pastor. Guided tours are available. The visitor center has exhibits on the Civil Rights Movement and its important figures. Worth knowing: The last scene of the Marvel movie Black Panther was filmed two blocks away from the park. This free attraction is open from 10am to 4pm daily, with small ranger-led tours available. nps.gov/malu/index.htm
7. Eyeball Some Great Art
Atlanta’s High Museum of Art is located in a stunning modern building between the Midtown and Ansley Park neighborhoods. Visitors will delight in the museum’s permanent collection and temporary exhibitions, with masterpieces spanning folk, self-taught, African, American, and European art and more. The museum is open Tuesday through Saturday, 10am to 5pm, Sunday from noon to 5pm, and is closed on Mondays. Admission costs $18.50. high.org/visit/
Recommended: Credit Card Rewards vs. Cash Back
8. Let Your Imagination Soar at the Delta Flight Museum
Atlanta is home to the busiest airport in the world, but the airport isn’t the only place to see planes in the city. The Delta Flight Museum, located inside an airport hangar, has aviation artifacts, several airplanes, a hot air balloon, and the country’s sole full-motion flight simulator open to the public (though that’s a pricey experience). If you or a member of your travel posse loves flying, this can be a fascinating place to spend a few hours. The museum is located outside of Atlanta’s airport, which is about eight miles south of downtown, making it a convenient stop if you are heading into or out of the Hartsfield-Jackson Airport. The museum is typically open from 10am to 4pm (closed on Wednesdays), but it’s wise to check in advance as it sometimes is closed for private events. Tickets range from $10 to $15. The flight simulator is a separate ticket, costing $425 for up to four people. deltamuseum.org/
9. Pit-Stop at the Varsity
Feeling hungry? Pull into Atlanta’s renowned Varsity, where you can indulge in chili dogs, onion rings, a frosted orange milkshake, and a fried peach pie. It’s an iconic eatery that opened in 1928 and is a popular drive-up experience; there are now six locations around town. You just may want to snap up a Varsity t-shirt after you’ve had your fill of their food. thevarsity.com/pages/locations
10. See a Show at the Fox Theatre
Ready for some entertainment as you look for fun things to do in Atlanta? Head to the Fox Theatre, an amazing space that was built as an auditorium for the Shriners organization and was inspired by Egyptian temples, among other structures. It’s a treat to be inside, and you can catch a show before it hits Broadway. The Fox also hosts comedy shows and concerts. Cool fact: It’s home to “Mighty Mo,” the largest working Moller theater organ in the world, constructed in 1929. foxtheatre.org/
The Takeaway
Atlanta is a lively, vibrant city with so many attractions and experiences, from strolling along the BeltLine to visiting a historical site to dining at a food court inside an old Sears building. By learning more about what Atlanta has to offer, you can be sure to make the most of your trip to this buzzworthy destination.
FAQ
What are some things to do in Atlanta for free?
Atlanta offers plenty of free or cheap attractions, like walking on the Atlanta BeltLine or window shopping in the Ponce City Market. You could also pick up some groceries for a picnic in Piedmont Park.
What are things to do in Atlanta, Georgia with kids?
The Georgia Aquarium, the Atlanta Zoo, and the World of Coca-Cola are some of the more popular attractions for children. There are also many parks and outdoor spaces for kids to run around and play, like the Centennial Olympic Park and Piedmont Park.
What are some things to do in Atlanta at night?
Atlanta has a robust nightlife scene. There are numerous restaurants, bars, and clubs throughout the city. Other options include the Starlight Drive-In movie theater, comedy clubs, and music venues.
What’s the symbol of Atlanta?
Atlanta’s official symbol is the phoenix. The mythical beast represents the city’s history: The area was destroyed in the Civil War during the Battle of Atlanta, then rebuilt from the ashes.
Photo credit: iStock/Sean Pavone
1See Rewards Details at SoFi.com/card/rewards. SoFi cardholders earn 2% unlimited cash back rewards when redeemed to save, invest, or pay down eligible SoFi debt. Cardholders earn 1% cash back rewards when redeemed for a statement credit.1 Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances. The SoFi Credit Card is issued by The Bank of Missouri (TBOM) (“Issuer”) pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners. SOCC0223014
My neighbor Leslie G. and her husband Doug decided to sell their house. Nestled at the end of a cul-de-sac in Murray, their coveted lot bordered a lush green common area that led to a creek. Nice. Leslie was also a master gardener and the home featured curved brick walkways, an outdoor fountain, and easy-to-care-for perennials. It had serious curb appeal. Based on an appraisal and neighborhood comps, they were hopeful they could get $400,000 for their home. But that was just their beginning point. By employing the following strategies, they ended up accepting an offer $35,000 higher and everyone was happy, including the buyer.
Seller strategies for a scorching market
Clean it and stage it. The G’s had a full life with kids, grandkids and worldwide travels. Their home was equally full. When I walked through the home prior to their listing going live, it was difficult to separate the G’s from their home because personal items were in every room and on every wall. It also reflected a specific style and had the wear and tear of most houses built in the 90’s. A stager spent an hour in the house telling Leslie what to do, then Leslie and Doug spent an entire week cleaning, painting and adding new decor items in select locations. The results were staggering. Cluttered surfaces were cleared. Windows sparkled and sunlight streamed in. An outdated master got a complete refresh with a new bedspread, towels, and rugs. Each room boasted one salient piece of artwork, other than that walls were bare and the wall holes filled in and painted. Fresh flowers and bright new pillows graced the deck and every inch of baseboard in the house was scrubbed to a bright white gleam.
The staged deck has half its normal furniture
Why it’s smart: By removing most of the furniture and all of the personal effects from the house and deck, your house will feel emotionally neutral and move-in-ready. Buyers don’t need to try to imagine the space without your things there, they can see it. And fewer pieces of furniture typically makes a space or room look much larger than its crowded counterpoint. On Homie’s Provider Marketplace, you can find repairmen, stagers and cleaning teams to help you accomplish this quickly and easily.
Price at or above appraised value. Utah home prices are shooting up faster than bamboo, and desperate buyers are often willing to offer more than even 3-month old comps. Leslie and Doug decided to price their home above its appraised value, feeling that the appraisal did not adequately take the prime location into account.
Appraisals can vary considerably
Why it’s smart: No two appraisals come in at exactly the same value, and sometimes the value can range considerably. In addition, in a market where the housing shortage is forcing prices up above appraised value, your buyers might have enough liquidity so that a below-sale-price appraisal is a none issue. If it does become an issue, you can discuss your options with your Homie attorney. Even if you split or pay the entire difference, you still end up earning top dollar on your home. If you set the price at appraised value, you open the negotiations to buyers who have less to put down, which might serve you well if your home entices first-time buyers. Homie gives sellers appraisal options, including but not limited to a Home Value report, desktop appraisal and more.
Give yourself time to consider multiple offers. The G’s listing specified that they would only accept offers with a seller acceptance deadline at least 72 hours after submission. A common practice of today’s home buyers is to “rush” sellers into accepting their offers before other interested buyers have a chance to tour the house and place an offer. Not surprisingly, the G’s received two offers within a week. They asked both potential buyers to come back with their “highest and best offer,” both of which were above listing price. They also continued to show the house, which ended up being a very good idea.
Building in a 72-hour window gives you time to get your highest and best offer
Why it’s smart: By requiring that offers have a 72-hour acceptance window, you build in time to receive multiple offers. This doesn’t mean buyers can’t make an offer with a shorter deadline, and if you get a “rushed” offer that makes you happy, by all means, accept it. Still, a 72-hour clause sets the expectation for buyers that you know your house is going to sell and will likely have multiple offers. It also gives you time to ask interested parties to come back with their highest and best offer. They may choose not to make an additional offer, so check with your Homie attorney about the best way to phrase a highest-and-best-offer request. If they do come back with their best offer, check to see that their downpayment amount is large enough that the appraisal will not likely be a problem.
Avoid buyers making offers higher than they’re actually willing to pay. Leslie and Doug didn’t want to get weeks down the road with an offer and then have to renegotiate. When they received offers that were contingent upon a certain appraisal amount, they took care to make sure those buyers were not using high bidding prices to secure the home while planning on renegotiating if the appraisal came in below the sales price. Both buyers ended up backing out of their offers, and the G’s were free to consider other offers that met their requirements. A few days later, they received a third offer from a family they felt would be a great fit for both the house and the neighborhood. They ended up accepting this third offer, which was not contingent upon an appraisal amount.
If you’re concerned about the appraisal, consider buyers with enough liquidity to avoid shortfall issues
Why it’s smart: Buyers are doing their best to find an affordable house, however, in such a hot market it does happen that buyers offer more than the house appraises for. In considering multiple offers, ask your Homie attorney to help you structure your contract to protect yourself against a potential shortfall.
Only accept offers from pre-approved, not pre-qualified, buyers. An offer is only attractive if the buyer can actually close. It’s unfortunate, but many sellers have accepted the “highest offer” only to see the loan fall through and find themselves back on the market two or three weeks later. Today any buyer can get a pre-qualification letter just by entering a few fields into an online platform and allowing a hard pull on their credit, but at this point they have provided no actual income or debt documentation.
Ask your buyers to get pre-approved, so you don’t have to start over 3 weeks into the sale
Why it’s smart: When you ask your buyers to go the extra step from pre-qualification to pre-approval, you know, not only that they’re qualified to buy your home, but also that they can and have provided all the documentation required by the lender to get approved for the loan. And, while they haven’t yet gone through underwriting, which requires a specific contract on a specific house, they can get all the way to that point, which strengthens their offer considerably. Pre-approval status also shortens the amount of time needed prior to a financing and appraisal deadline, which can shorten your closing while also reducing your risk. You can ask interested buyers, even pre-qualified buyers, to get pre-approved at Homie Loans, putting yourself in the best possible position.
In a market like this, use Homie
Yes, it’s a seller’s market, but that doesn’t mean showing your house dirty or cluttered will get you your best price. It also means different strategies come into play when considering, countering and accepting offers. Homie provides seasoned real estate attorneys to help Homie sellers understand the nuances of today’s market and negotiate each step of the process with confidence. To list your home with Homie, and speak to a real estate attorney about how you can get the best deal possible for your home, start here.
Word’s out. Homie has hundreds of new zero-commission listings every month.
By Peter AndersonLeave a Comment – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited April 22, 2009.
Over at Debt Kid he’s running a contest right now with a grand prize of his almost new DS-Lite! What do you have to do to win? Just write a blog post about your dumbest purchase ever, and trackback to his blog.
I thought I’d give it a shot. I recently wrote about my 5 biggest money mistakes, and some of those mistakes included dumb purchases , mostly buying tons of expensive gadgets that I didn’t need.
Today, I thought I’d give a different answer to the question, “What is your Dumbest Purchase Ever?”
My Dumbest Purchase
My dumbest purchase could have ended up being a good purchase, had it actually been used. When my wife and I were first married, we both got on a health kick, and decided to join our local gym, Lifetime Fitness.
This fitness club was state of the art having just been built a year or two prior to our joining. They had indoor and outdoor pools, fitness equipment of every kind, basketball courts, cafe, salon, masseuse, etc.
We were going to start going to the gym 5 times a week, and get back into shape. We were both going to shed those un-needed post marriage pounds.
Then life got in the way.
We hardly ever ended up going to the gym. It was several miles from our house and we just never were motivated enough to make the trip to the gym. Not even all the money we were wasting every month (around $70) was enough to get us up and out the door.
Finally after having our memberships for almost 2 years, we decided to finally cancel the memberships. All in all we probably went to the gym once or twice a month, and wasted well over a thousand dollars on membership fees. Lesson learned.
What’s your dumbest purchase ever? Head over to Debt Kid to share your story!