Located in the heart of the San Francisco Bay Area, Oakland is an exciting and diverse city with a unique charm that sets it apart from its neighbors. From the stunning views of the Bay to the bustling arts and culture scene, there is no shortage of things to explore and experience. Residents of Oakland enjoy a rich history, a thriving culinary scene, and a strong sense of community that makes it a truly special place to call home. If you’ve been thinking, “Should I move to Oakland?” you’re in the right place. In this article, we’ll discuss the pros and cons of this city to help you decide if it’s the right place for you. Let’s get started.
Oakland at a Glance
Walk Score: 75 | Bike Score: 65 | Transit Score: 57
Median Sale Price: $840,000 | Average Rent for 1-Bedroom Apartment: $2,470
Oakland neighborhoods | Houses for rent in Oakland | Apartments for rent in Oakland | Homes for sale in Oakland
Pro: Proximity to nature and outdoor activities
Oakland offers a blend of urban living and access to nature, making it an ideal location for outdoor enthusiasts. The city is surrounded by beautiful parks and green spaces. Including Joaquin Miller Park and Redwood Regional Park, offering miles of hiking and biking trails amidst towering redwoods. Additionally, Lake Merritt, located in the heart of the city, provides a scenic spot for jogging, picnicking, and bird watching. This easy access to nature allows locals to enjoy a variety of outdoor activities without having to venture far from home.
Con: High cost of living
One of the major drawbacks of living in Oakland is the high cost of living, which is 39% above the national average. Housing prices have skyrocketed in recent years, making it challenging for some to afford a home in the city. Rent prices are also steep, putting financial strain on residents. The high cost extends beyond housing, affecting groceries, utilities, and other essential services, making it difficult for some individuals to manage their budgets comfortably.
Pro: Diverse culinary scene
Oakland’s culinary scene is as diverse as its population. From authentic Mexican taquerias and Ethiopian restaurants to upscale Californian cuisine, the city caters to all taste buds. The Temescal neighborhood, in particular, is a foodie’s paradise, known for its innovative dining options and trendy cafes. This culinary diversity not only enhances the city’s cultural richness but also provides residents with an endless variety of dining experiences.
Con: Traffic congestion
Like many urban areas, Oakland suffers from significant traffic congestion. The city’s infrastructure struggles to keep up with the growing population, leading to crowded highways and extended travel times. The Bay Bridge, connecting Oakland to San Francisco, is notorious for its traffic jams, often resulting in long commutes for residents working in the neighboring city. Public transportation options are available, but they not serve all areas and suburbs equally, adding to the daily commute challenges.
Pro: Dynamic arts and culture scene
Oakland’s arts and culture scene is a significant draw for both residents and visitors. The city is home to a plethora of galleries, theaters, and live music venues that showcase a wide range of artistic expressions. The First Friday street festival is a prime example, transforming the streets into a lively celebration of art, food, and music every month. Additionally, the Oakland Museum of California offers an in-depth look at the state’s rich history, art, and natural sciences, making it a cultural hub in the city.
Con: Air quality issues
Oakland faces challenges with air quality, particularly during the summer months and wildfire season. The city’s location and topography can trap pollutants, leading to days with unhealthy air quality levels. Wildfires in the region exacerbate the problem, sometimes resulting in smoke and ash affecting the city for extended periods. These air quality issues can sometimes limit outdoor activities and impact those with respiratory conditions.
Pro: Thriving tech and startup ecosystem
Oakland has emerged as a burgeoning hub for technology and startups. This has attracted entrepreneurs and innovators looking for alternatives to Silicon Valley. The city offers a supportive environment for new businesses, with co-working spaces, incubators, and a collaborative tech community. This ecosystem not only contributes to the local economy but also provides job opportunities and fosters innovation.
Con: Infrastructure and public services challenges
Oakland’s infrastructure and public services face significant challenges. These issues include aging roads, limited public transportation options in certain areas, and a need for more robust public amenities. These issues can affect daily life, from commuting to accessing essential services. Efforts are underway to address these challenges, but progress can be slow, and funding is often limited. The state of the city’s infrastructure underscores the need for continued investment and innovative solutions to support Oakland’s growing population.
Pro: Innovative environmental initiatives
Oakland is at the forefront of environmental sustainability, with innovative initiatives aimed at reducing the city’s carbon footprint and promoting green living. The city has implemented policies to encourage recycling, composting, and the use of renewable energy sources. Urban farming and community gardens are widespread, contributing to local food security and fostering environmental awareness.
Jenna is a Midwest native who enjoys writing about home improvement projects and local insights. When she’s not working, you can find her cooking, crocheting, or backpacking with her fiancé.
Mortgage rates have climbed five weeks in a row and are now at their highest levels since the week before Thanksgiving.
The average rate on the 30-year fixed-rate mortgage rose to 7.32% in the week ending May 2, according to rates provided to NerdWallet by Zillow. It was an increase of nine basis points over the previous week. (A basis point is one one-hundredth of a percentage point.) It marked the highest level since mid-November.
Rates rise as inflation plateaus
The 30-year mortgage has risen 63 basis points in five weeks. That’s unusual. When mortgage rates go up, they usually climb unhurriedly, like they’re taking the stairs. But they hopped an elevator a little more than a month ago. Inflation is the culprit.
The core consumer price index stood at 5.6% year-over-year in March 2023. Six months later, core inflation had slowed to 4.1%. It looked like inflation was steadily moving toward the Federal Reserve‘s goal of 2% after the Fed had raised short-term interest rates 11 times in a year and a half.
But since last fall, progress on inflation has stalled. From October to March (the last inflation report available), core inflation dropped from 4% to 3.8%.
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No Fed rate cuts for a while
Even the Fed expressed frustration about inflation’s persistence. “In recent months, there has been a lack of further progress toward the Committee’s 2% inflation objective,” the central bank said in a statement May 1 at the conclusion of its monetary policy meeting. That might seem like a mild-mannered assertion, but in the buttoned-up world of the Fed, it’s the equivalent of banging one’s head against the desk.
At a news conference, Fed Chair Jerome Powell was asked repeatedly if the central bank will be compelled to raise short-term interest rates again to restrain inflation. He said a rate hike is unlikely. But he said he’s not in a hurry to cut the federal funds rate, either. “We want to be confident that inflation is moving … sustainably down to 2%,” he said.
The Fed doesn’t set mortgage rates — financial markets do — but the central bank exerts a strong influence. This outlook wasn’t news to financial markets. Investors know that inflation is lingering. Markets concluded more than a month ago that the Fed wouldn’t cut rates in the near future. That’s when mortgage rates embarked on this multiweek rise.
Transactions rise along with rates
Home buyers and sellers might be growing accustomed to these interest rates, prompting them to get on with their lives by making and accepting offers for real estate.
About 93,000 homeowners listed their homes for sale last week, according to Mike Simonsen, president of Altos Research, a real estate analytics firm. “That’s much more than in any week in the entire last year,” he said in his weekly YouTube commentary. He added that 76,000 offers were accepted last week, “more than any week in 2023.”
Increases in listings and sales reflect multiple motivations: Some sellers and buyers may have wanted to act before mortgage rates climb even higher, while others might have given up on the prospect of lower rates anytime soon, prompting them to take action. It’s best to avoid timing the market and instead to buy or sell a home based on one’s needs. The bottom line is that houses continue to change hands, even with mortgage rates above 7%.
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In the Midwest, Ohio provides residents a unique blend of urban excitement, small-town charm, and picturesque landscapes. From the lively city life of Columbus, with its thriving arts scene and diverse culinary offerings, to the quaint charm of Cincinnati, known for its historic neighborhoods and iconic skyline views along the Ohio River, Ohio has a diverse array of experiences. In this ApartmentGuide article, we’ll uncover the pros and cons of living in Ohio, so you can learn what life is like in “The Buckeye State.”
Renting in Ohio snapshot
Population
11,785,935
Avg. studio rent
$724 per month
Avg. one-bedroom rent
$933 per month
Avg. two-bedroom rent
$1,109 per month
Most affordable cities to rent in Ohio
Lorain, Elyria, Lima
Most walkable cities in Ohio
Lakewood, Norwood, Cleveland
1. Pro: Affordable cost of living
Cities like Dayton and Toledo offer residents access to affordable housing options, with median home prices and rental rates below the national average. For instance, Toledo has a median home sale price of $105,500 and an average rental rate of $784 for a one-bedroom apartment. Additionally, everyday expenses such as groceries, utilities, and healthcare are generally more affordable, allowing residents to stretch their dollars further and enjoy a higher standard of living.
2. Con: Unpredictable weather
Ohio’s weather is notoriously unpredictable, with residents experiencing a wide range of climatic conditions throughout the year. From severe thunderstorms and tornadoes in the spring to heavy snowfall and freezing temperatures in the winter, Ohioans must be prepared for rapidly changing weather patterns. Cities like Cincinnati and Cleveland often face weather-related disruptions, such as flooding and power outages, which can impact daily life.
3. Pro: Sports culture
Ohio has a rich sports culture, with passionate fans rallying behind local teams and sporting events. Cities like Cleveland and Cincinnati are home to iconic sports franchises such as the Cleveland Cavaliers, Cleveland Browns, Cincinnati Reds, and the Cincinnati Bengals. Moreover, Ohio hosts major sporting events like the Cincinnati Masters tennis tournament and the Memorial Tournament in Dublin, attracting athletes and spectators from around the world.
4. Con: Limited public transportation
Ohio’s public transportation infrastructure is relatively limited, particularly outside major urban centers like Columbus and Cleveland, which can present challenges for residents who rely on public transit. Lakewood, for example has a transit score of 41, meaning there are only a few public transportation options offered in the city.
5. Pro: Educational opportunities
Ohio offers a wealth of educational opportunities at all levels, from great universities to excellent public school systems. Institutions like The Ohio State University, Case Western Reserve University, and Miami University provide students with exceptional academic programs and research opportunities. Moreover, Ohio’s strong public school system ensures that students receive quality education from an early age.
6. Con: Infrastructure concerns
Ohio faces infrastructure concerns, including aging roads, bridges, and public utilities, which can impact residents’ quality of life. The state received a C- on its Infrastructure Report Card in 2021, which further highlights its lacking infrastructure.
7. Pro: Outdoor recreation
Ohio’s diverse landscapes offer residents ample opportunities for outdoor recreation and exploration. From hiking and biking trails in Cuyahoga Valley National Park to boating and fishing on Lake Erie, the state’s natural beauty provides endless possibilities for adventure. Columbus, one of Ohio’s largest cities, has an extensive park systems and green spaces, providing residents opportunities for picnicking, birdwatching, and outdoor sports year-round.
8. Con: High humidity
Ohio experiences high humidity levels, particularly during the summer months, which can create uncomfortable and sticky conditions for residents. The combination of heat and humidity can lead to discomfort, dehydration, and heat-related illnesses, prompting residents to seek relief indoors or in air-conditioned spaces during the hottest times of the year.
9. Pro: Central location
Ohio’s central location in the Midwest makes it an ideal base for travel and exploration throughout the region. Columbus and Cincinnati are within a day’s drive of major metropolitan areas such as Chicago, Detroit, and Pittsburgh, offering residents easy access to cultural attractions, entertainment, and dining experiences.
10. Con: Environmental concerns
Ohio faces various environmental concerns, including pollution from industrial activities, agricultural runoff, and urban development, which can impact air and water quality. Additionally, Lake Erie and the Ohio River are susceptible to pollution and algae blooms, affecting drinking water sources and aquatic ecosystems.
11. Pro: Historical landmarks
12. Con: “Brain drain”
Ohio experiences “brain drain,” where various people leave the state in search of better job opportunities and quality of life elsewhere. Factors contributing to brain drain include limited job prospects, lack of cultural amenities, and perceptions of Ohio as a less desirable place to live.
Methodology : The population data is from the United States Census Bureau, walkable cities are from Walk Score, and rental data is from ApartmentGuide.
I’m currently in the process of buying a house. Even though I’ve done so in the past (spoiler alert: it didn’t end well), I still qualify as a “first-time home buyer” on this go-round, at least for mortgage purposes. Since it’s been more than three years since I had an ownership stake in a house, I qualified to buy with an FHA loan — and actually, that’s how I bought last time, too.
FHA loans are backed by the federal government (specifically, the Federal Housing Administration, hence their name), and administered by standard mortgage lenders. The requirements to use one are less stringent than for conventional home loans.
While a conventional mortgage often requires a credit score of 620 or better, many FHA lenders only require a score of 500. If your credit score is at least 580, you can get away with putting down just 3.5% on a home purchase. But if you can swing a 10% down payment, your credit score could be as low as 500.
Despite these perks, I opted against an FHA loan this time — I’m buying with a conventional loan instead. Here’s why.
I’m already paying more than I want to
Mortgage loans are far from cheap these days. As of this writing, the average rate on the classic 30-year fixed home loan sits at 6.88%, according to Freddie Mac. Compare that to rates at 3% in 2021! In real numbers, if you buy a $250,000 home with 10% down at a rate of 3%, your monthly payments for the loan and the interest will be just $1,094. Swap that 3% rate for one at the current average, and you’re signing on for monthly loan and interest payments of $1,624. Ouch. And even with a credit score over 800, I’m still not saving much on a mortgage rate.
Since I’m already paying more per month (and overall) to buy a house, I decided against going with an FHA loan, because it would cost me even more. I’m putting just 10% down on my home purchase, so I will have to pay for private mortgage insurance (PMI). This protects my lender in the event I stop making payments and it must repossess and resell my house. If you buy a home with a conventional loan and less than 20% down, you’ll pay for PMI.
More: Check out our picks for the best mortgage lenders
FHA loans come with mortgage insurance, too — it’s called MIP, or a mortgage insurance premium. Like PMI, payments are collected monthly — but there’s also an upfront payment to cover at closing. But unlike PMI, if you make a 10% down payment on a home with an FHA loan, you’ll pay MIP for 11 years. If you make the standard 3.5% FHA loan down payment, however, you’re stuck with MIP unless you refinance to a conventional loan.
With my conventional loan, once I reach 20% equity in my house, I can have my PMI payments canceled by my mortgage lender. With an FHA loan, I’d be paying more for longer — or paying to refinance the loan as soon as I got to 20% equity.
I wanted to be a more competitive buyer
I’m very aware of how competitive the current market is for buyers. The supply of homes for sale (just 2.9 months’ worth in February, according to the National Association of Realtors) is too low to equalize the market between buyers and sellers, so I knew I’d have to beat out other buyers to get an offer accepted.
On the lead up to finding the right house, making an offer, and getting it accepted, I looked at several that specified “cash or conventional” in their listings. This means that sellers were only willing to consider buyers paying cash or using a conventional loan, rather than a government-backed mortgage. Unfortunately, some sellers are wary of FHA loans because of the stricter appraisal requirements.
All homes bought with a mortgage go through appraisal, but in the case of a conventional loan, that appraisal is to assess value, not condition (that’s what a home inspection is for). But FHA appraisals also serve as a safety inspection for the home, which must meet certain livability standards for the loan to be approved. I didn’t want a seller to be leery of me as a buyer because of this extra layer of scrutiny.
If you’re an aspiring homeowner, it’s a great idea to assess all your mortgage options. Depending on your credentials, income, or background, you might have access to programs that can save you money on the home-buying process. I might not be using an FHA loan this time, but I’m sure glad the option exists — anyone who wants (and has the means) to buy a house should be able to.
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A 1099-c cancellation of debt form is issued when a lender forgives or cancels a debt. The 1099 c form helps the IRS account for canceled debts from the previous tax year.
The 1099-C cancellation of debt form deals with canceled or forgiven debt from the previous tax year. This form exists to ensure accuracy when reporting taxes and to help filers determine if they owe debt forgiveness taxes.
Cancellation of debt happens when a creditor discharges or forgives a debt you haven’t paid off. The IRS notes that cancellation can occur when the creditor gives up on collecting because it’s exhausted its resources and is unable to collect. In some cases, cancellation can come about as an agreement between you and the creditor.
Here, we’ll answer several common questions about this form and explain how canceled debt relates to taxes.
Key Takeaways:
The IRS requires 1099-C forms because forgiven debt contributes to your gross income.
Receiving and filing a 1099-C form won’t affect your credit score positively or negatively.
Certain forgiven debts, such as mortgage forgiveness, are exempt from 1099-C requirements.
What Is a 1099-C Form?
Form 1099-C is a tax form required by the IRS in certain situations where your debts have been forgiven or canceled. Forgiven debt contributes to your gross income for the given tax year. The IRS requests 1099-C forms to account for those funds and debt forgiveness tax if need be.
If you received a 1099-C form in the mail, it’s because of a debt cancellation that occurred at some point during the previous tax year. Box 6 on the document contains a code to help you determine why you received the form.
Reasons why a cancellation might occur include:
A creditor stops trying to claim a debt.
Your mortgage is modified.
A property is foreclosed or repossessed.
You can also learn more about the 1099-C cancellation of debt processes and why you might receive such a form if you’re unsure whether yours is accurate.
Is a 1099-C Form Good or Bad for Your Credit?
The 1099-C form shouldn’t have any impact on your credit. However, the activity that led to the 1099-C probably does impact your credit. Typically, by the time a creditor forgives a debt, you’ve engaged in at least one of the following activities:
Failed to make payments for an extended period of time
Negotiated a settlement on the debt
Entered into a program with the creditor because you can’t pay the debt, such as a home short sale or voluntary repossession
Been sent to collections
Had a foreclosure or repossession
Gone through bankruptcy
All those are negative items that can impact your credit report and score for years. So, while getting a 1099-C itself doesn’t change your credit at all, you’ve probably already experienced a negative hit to your score.
What Should You Do with a 1099-C Form?
First, find out whether the type of debt cancellation on the 1099-C form is excluded from taxable income. The IRS provides a list of exclusions; if your debt is included on this list, you won’t have to worry about the 1099-C form.
Some of the items on this list include:
Canceled amounts that were gifts or inheritances
Certain student loans and student loan discharges
Qualifying purchase price reductions
If you ultimately need to claim the income, you must incorporate the 1099-C into your federal tax filing and report the canceled debt as “other income”. Forgiven debt can increase your gross income for that tax year, which might reduce your refund or increase the taxes you owe.
In cases where the 1099-C canceled debt falls under an IRS exclusion—which means you don’t have to pay taxes on all or some of the income—you still may need to file a form. The creditor that sent you the 1099-C also sent a copy to the IRS.
Some types of debt cancellation on the 1099-C form are excluded from taxable income. The IRS provides a list of exclusions, which include debts that were forgiven because you were insolvent or involved in certain types of bankruptcies. You may want to double-check with your bankruptcy lawyer about whether you need to claim 1099-C income relevant to your bankruptcy discharge.
Call out box “Pro Tip:” link
If you don’t acknowledge the form and income on your tax filing, it could result in a tax audit. Luckily, the IRS provides a form for this purpose. It’s Form 982, the Reduction of Tax Attributes Due to Discharge of Indebtedness.
Who Can File a 1099-C Form?
According to the IRS, you can file a 1099-C form if you’ve forgiven or canceled at least $600 in debt for an individual or entity in the previous tax year. You must also be an applicable financial entity, such as a bank or credit union.
For example, you don’t need to file a 1099-C form if you loaned your brother $1,000 and then told him on his birthday you’ve decided he doesn’t have to pay you back.
How to File a 1099-C Form
How you include your 1099-C depends on how you already file your taxes. Online tax filing programs include options for adding the 1099-C form when you file. Typically, you do this when entering various types of income.
You may need to file form 982 if you have exclusions to ensure you don’t pay more than you need to. You can work with a tax professional or use software to file taxes yourself. Both options can help you minimize mistakes and maximize your refund.
How to Read a 1099-C Form
Knowing how to read your 1099-C may help you understand why you got one and what you have to do with it. Here’s a breakdown of what each box means:
Codepen Link for 1099-C instructions
Codes that might be included in Box 6 on the 1099-C:
A. Bankruptcy Title 11
B. Other judicial debt relief
C. Statute of limitations or expiration of deficiency period
D. Foreclosure election
E, Debt relief from probate or similar proceeding
F. By agreement
G. Decision or policy to discontinue collection
H. Other actual discharge before identifiable event
What Is the Mortgage Forgiveness Debt Relief Act?
The Mortgage Forgiveness Debt Relief Act of 2007 generally excludes all forgiven debt on the mortgage of your primary residence. That means you may not have to include canceled debt on your mortgage as part of your income on your taxes.
For example, if your debt is reduced through a restructuring of your mortgage or in connection with a foreclosure, it may be excluded. This is one of the most common exclusions, but there are a few other situations where you don’t have to include canceled debt.
1099-C Cancellation of Debt FAQ
Receiving a 1099-C form is a rare occurrence, which is why people often have so many questions about it. Here are several frequently asked questions we’ve encountered about this rare tax document.
What If You Receive a 1099-C Form on an Old Debt?
There aren’t statutes of limitations on the cancellation of debt, though the IRS does have rules about when these forms should be filed. The creditor must file a 1099-C the year following the calendar year when a qualifying event occurs. That just means the creditor must file the next year if they discharge or forgive a debt.
If the creditor files a 1099-C with the IRS, it typically must provide you with a copy by January 31 so you have it for tax filing purposes that year. This is similar to the rule for W-2s from employers and other tax forms.
However, there’s no rule for how long a creditor can carry debt on its books before it decides it’s uncollectible. So, if your debt isn’t canceled via repossession, bankruptcy or other such processes, cancellation could happen at any time. The creditor doesn’t have to tell you about it other than sending the 1099-C.
What If You Don’t Get Your 1099-C?
You may not receive a 1099-C or might receive it after you already filed your taxes. If you receive the form after you file, you should file an amended return. That’s true even if the 1099-C doesn’t change your tax obligation, as you want to get a Form 982 detailing the reasons for exclusion on record for documentation purposes. If you don’t receive a form at all, it may mean the creditor didn’t send one and you don’t have to file.
What If You Have a Canceled Debt That Is Less Than $600?
Canceled debt less than $600 still needs to be reported as income on your taxes, though you may not receive a 1099-C for it. Working with tax professionals may be a good idea if it’s unclear which form you should use and what income you need to claim.
What If You Misplaced Your 1099-C?
You should be able to contact the associated creditor for a copy of your 1099-C form if you lose it. If you can’t reach them or retrieve a copy, you may have to call the IRS to resolve the issue.
What If Your 1099-C Form Is Incorrect?
If your form is incorrect, you should contact the creditor to send a corrected version. If the creditor doesn’t send it before the tax deadline so you can file with the correct information, you’ll need to file an amended return when you receive it.
Though receiving a 1099-C doesn’t hurt your credit, the canceled debt that led to it probably will. It’s best to find other solutions to debt than delinquency or cancellation. You may be able to negotiate, refinance, or restructure your debt to make it more manageable.
Can a Creditor Still Collect After Issuing a 1099-C?
Yes, a creditor can still try to collect the debt a person owes even after a 1099-C has been issued. Even if a lender issues a 1099-C form, they can still choose to pursue delinquent funds if they simply want to collect the money you owe.
If you find yourself in this situation, reach out to your creditor as soon as possible and try to negotiate a new agreement.
What to Do If You Received a 1099-C Form after Filing Your Taxes
If you don’t know a 1099-C form is coming, you could make a mistake on your tax return by filing too early. If you receive the form after you file, you should file an amended return. That’s true even if the 1099-C doesn’t change your tax obligation, as you’ll want to get the Form 982 on record for documentation purposes.
The IRS also allows amended tax returns to be e-filed, making it even easier to quickly file an amendment. However, you can only amend 2020, 2021, and 2022 returns in this manner.
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Learning more about taxes and financial matters is easier than ever. You can always consult Credit.com’s expansive personal finance guide to learn more about topics like unpaid taxes, credit reports, and debt-to-income ratios.
Receiving and filing a form 1099-C shouldn’t affect your credit, so you check your credit report if you notice any strange fluctuations in your score. Use Credit.com’s ExtraCredit® subscription for a full view of your credit profile—you can even get started with a free seven-day trial.
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Have you been asking yourself, “Should I move to Minneapolis, MN?” Located along the banks of the Mississippi River, Minneapolis is a dynamic city with a unique blend of natural beauty and urban charm. Known for its picturesque lakes, thriving arts scene, and diverse neighborhoods, Minneapolis always has something exciting in store. Whether you’re drawn to the city’s music and theater scene, its abundance of outdoor activities, or its friendly community, Minneapolis has plenty to offer for those looking to put down roots in the Land of 10,000 Lakes. In this article, we’ll discuss the pros and cons of living in this city to help you decide if it’s the right place for you. Let’s jump in.
Minneapolis at a Glance
Walk Score: 71 | Bike Score: 83 | Transit Score: 55
Median Sale Price: $330,000 | Average Rent for 1-Bedroom Apartment: $1,560
Minneapolis neighborhoods | Houses for rent in Minneapolis | Apartments for rent in Minneapolis | Homes for sale in Minneapolis
Pro: Flourishing arts scene
Minneapolis is renowned for its vibrant arts scene. The city is home to the Walker Art Center, one of the most celebrated contemporary art museums in the U.S., and the adjacent Minneapolis Sculpture Garden, famous for the iconic “Spoonbridge and Cherry” sculpture. Additionally, the Guthrie Theater offers world-class theatrical productions, and the First Avenue nightclub has played host to countless legendary performances. These venues provide residents with endless opportunities for artistic exploration and inspiration.
Con: Harsh winters
The winters in Minneapolis are notoriously brutal, with temperatures often plummeting below zero degrees Fahrenheit. The city experiences heavy snowfall, which can disrupt daily life, from commuting challenges to the simple act of walking outside. The city has efficient snow removal and a well-designed network of skyways in downtown areas that help pedestrians avoid the cold. However, the winter months can still be daunting for those not accustomed to such extreme weather conditions.
Pro: Abundance of lakes and parks
One of Minneapolis’s most charming features is its abundance of lakes and parks. The city’s park system is consistently ranked as one of the best in the country, offering residents access to over 22 lakes and more than 200 parks. From sailing on Lake Harriet to biking around Lake Calhoun (also known as Bde Maka Ska), the opportunities for recreation and relaxation are virtually limitless. This access to green space is a significant advantage of living in Minneapolis.
Con: Traffic congestion
Like many major cities, Minneapolis faces issues with traffic congestion, especially during rush hours. The city’s layout and reliance on a few major highways can lead to significant delays, particularly on I-35W and I-94, which are crucial routes for commuters. While public transportation options like the Metro Transit light rail and bus services offer alternatives, the traffic can still be a considerable inconvenience for residents.
Pro: Thriving job market
Minneapolis boasts a robust job market, particularly in the fields of healthcare, education, and technology. The city is home to several Fortune 500 companies, including Target, UnitedHealth Group, and Best Buy, providing ample employment opportunities. Additionally, the University of Minnesota, based in Minneapolis, is a significant employer and contributes to the city’s focus on research and innovation. This economic environment offers locals a wide range of career paths and other opportunities.
Con: Seasonal allergies
Due to its lush environment and diverse plant life, Minneapolis can be a challenging place to live for people with seasonal allergies. Spring and fall are particularly difficult times for allergy sufferers as the pollen from trees, grasses, and weeds reaches peak levels. While the city’s green spaces are a significant asset, they can also contribute to discomfort for a portion of the population.
Pro: Diverse culinary scene
Minneapolis’s culinary scene offers an array of dining options that reflect the city’s multicultural population. From the traditional Scandinavian dishes that pay homage to the city’s Nordic roots to the thriving East African cuisine found in neighborhoods like Cedar-Riverside, there’s something for every palate. The city also boasts a growing number of farm-to-table restaurants and craft breweries, highlighting Minnesota’s rich agricultural heritage and innovative spirit.
Con: Limited public transportation options
While Minneapolis has made strides in expanding its public transportation system, options can still be limited. The Metro Transit system, consisting of buses and light rail lines, does not fully cover the metropolitan area. This can make it difficult for those without cars to access certain parts of the city and surrounding suburbs. This limited Transit Score of 55 can affect daily commutes and restrict access to certain amenities and job opportunities for those relying on public transit.
Pro: Active lifestyle
Minneapolis encourages an active lifestyle, with its extensive network of bike lanes and trails, public parks, and recreational facilities. The city has been named one of the best biking cities in America, with over 200 miles of bike trails and dedicated lanes for cyclists. Whether it’s kayaking on the Mississippi River or cross-country skiing in Theodore Wirth Park, Minneapolis provides ample opportunities to stay active and engaged with the outdoors.
Jenna is a Midwest native who enjoys writing about home improvement projects and local insights. When she’s not working, you can find her cooking, crocheting, or backpacking with her fiancé.
If you’re tired of renting, it may be time to purchase your first home. Being a first-time homebuyer is nerve-wracking, but many of the myths about buying a home just aren’t true.
You don’t need a perfect credit score, and you don’t need 20% for a down payment. Many first-time homebuyer programs, grants, and down payment assistance programs are available to help you secure the financing you need to purchase your first home.
Key Takeaways
First-time homebuyer programs and grants offer various forms of financial assistance, such as low down payment options and closing cost aid, making homeownership more accessible without needing perfect credit or large down payments.
FHA, USDA, and VA loans provide significant benefits, including lower credit score requirements and minimal or no down payment requirements, tailored to help first-time buyers with limited resources.
Additional unique programs like the HUD Good Neighbor Next Door and HUD 203(k) Rehab Loans offer further advantages, like substantial discounts on home prices and funding for renovations, specifically designed to encourage public service employees and those interested in revitalizing homes.
Federal Housing Administration (FHA) Loans
FHA loans are a suitable option for first-time buyers with poor credit, or anyone who doesn’t have 20% to put toward a down payment. These loans are backed by the U.S. Department of Housing and Urban Development (HUD).
FHA Loan Requirements
If your credit score is at least 580, you qualify for minimum down payment of 3.5%. If your credit scores are between 500 and 579, you qualify with a 10% down payment. However, you should expect to receive a higher interest rate.
Here are some of the other requirements:
Have a steady employment history of at least two years
You plan to occupy this home as your primary residence
You’re prepared to get an FHA property appraisal
You can qualify for the FHA loan program even if you filed for bankruptcy, as long as it’s been at least two years. However, you should expect to pay for private mortgage insurance (PMI). However, you should expect to pay private mortgage insurance for the duration of the FHA loan if your LTV ratio is less than 90% at the time of closing.
If it’s lower, you’ll have to pay for 11 years (unless the home loan is paid off earlier). These proceeds are used to cover the lender if the borrower defaults on the loan.
FHA loan limits vary by area. You can view the loan limits for your area here.
Energy Efficient Mortgage Program
With this program, you can roll the cost of any energy-efficient improvements into your FHA mortgage. This won’t change your minimum down payment requirements, and the money financed for the EEM package won’t affect your loan limit. You’ll need to work with your mortgage lender to determine how much of an EEM benefit you qualify for.
Fannie Mae
With Fannie Mae, you can roll the cost of any energy-efficient improvements into your FHA mortgage. This won’t change your minimum down payment requirements, and the money financed for the EEM package won’t affect your loan limit. You’ll need to work with your lender to determine how much of an EEM benefit you qualify for.
HomeReady Mortgage Program
The HomeReady Mortgage program is ideal for first-time homebuyers who have a minimum credit score of 620. The minimum down payment is 3%, and PMI is required. If your credit score is 680 or higher, you may qualify for more competitive rates.
HomePath Ready Buyer Program
With this program, you can get up to 3% of the purchase price in closing cost assistance toward the purchase of a HomePath property. To qualify, you’ll need to complete a homebuyer education course.
You’re also limited in what you can buy. This program is only for HomePath properties, which are foreclosed homes owned by Fannie Mae.
97% LTV Mortgages
This mortgage loan could be the right option for first-time buyers that don’t have 20% for a down payment. 97% LTV mortgages from Fannie Mae allow you to make a down payment of only 3%.
You can only take out a fixed-rate mortgage for this type of loan. And the home you purchase must be your primary residence and not an investment property.
Freddie Mac
Freddie Mac is another entity that offers competitive mortgage products to consumers. Their most popular program for first-time homebuyers is the Home Possible mortgage. This mortgage is ideal for low to moderate-income borrowers in underserved communities.
Home Possible Mortgages
Buyers can choose from the 95% LTV (Home Possible) or 97% LTV (Home Possible Advantage) options. This conventional loan is not backed by the federal government, but it comes with flexible terms and low down payment minimums.
Plus, you can cancel your PMI once the loan balance reaches 79% of the home’s appraised value. And even if with no credit or bad credit, you may be eligible for a mortgage with as little as 5% down.
United States Department of Agriculture (USDA) Loans
Considering a home in a rural area? You may qualify for 100% financing through the USDA loan program.
There is no required down payment with this program, and the credit requirements are much lower than what other lenders look for. You can use this tool from the USDA’s website to see if your area qualifies. There’s a 2% guarantee fee with a USDA loan, but it can be rolled into your mortgage loan and spread across your monthly mortgage payments.
Veterans Administration (VA) Loans
If you’re an active service member, veteran, or surviving spouse, you may be eligible for a mortgage through the VA Home Loan Program.
VA loans are perfect for first-time homebuyers because the upfront costs are so low. There’s no down payment required, and you don’t have to pay for PMI. There is no minimum credit score requirement for a VA loan. However, most mortgage lenders want to see a FICO credit score of at least 580.
Native American Direct Loan
If you’re a Native American veteran looking to purchase your first home, this program may help you get the financing you need. Loans come with no down payment, minimal closing costs, and no PMI.
They are also much easier to qualify for than traditional mortgages. Your home must be located on Federal Trust Land, and the mortgage is for a 30-year term at a fixed rate.
HUD’s Good Neighbor Next Door (GNND) Sales Program
Do you work in a public service role such as law enforcement, teaching, or the fire department? Then you can receive 50% off the HUD appraised value of select homes through HUD’s GNND Sales program.
The only catch is that the home must be located in a revitalization area, and you must commit to living there for 36 months. You also need to act fast because homes are only listed for sale during a seven-day window.
HUD Dollar Homes Program
First-time homebuyers should also check out Dollar Homes offered by HUD. These are foreclosed FHA properties that have been on HUD’s website for over six months. The options may be limited, but you never know when a good deal may appear.
HUD 203(k) Rehab Loans
Do you have your eyes set on a fixer-upper? Check out HUD 203(k) loans, which are backed by the FHA and give additional funding to homebuyers who want to complete renovations. Instead of taking out a second loan, you can roll the renovation costs into the mortgage.
See also: How to Buy a HUD Home (And When You Should)
Other Homebuyer Grants and Programs
You can visit HUD’s website to learn more about programs that are available for first-time homebuyers in your area. Once you’ve selected your state, you’ll be redirected to a list of programs that you may qualify for.
National Homebuyers Fund
The National Homebuyers Fund (NHF) is available for low-income homebuyers that need down payment assistance. Once you find a participating lender, the NHF will provide a grant for up to 5% of the loan amount.
You don’t have to repay the grant, but there are income requirements based on the current housing market and your location. Your lender can provide you more information and help you determine if you qualify.
Employer-Sponsored First-Time Home Buyer Programs
Some employers are now offering housing incentives to help employees with down payments and closing costs. Your employer or labor union may give you a grant that’s forgivable over time. Check with your manager to see if they offer any kind of down payment or closing cost assistance.
Local Grants to First-Time Home Buyers
There are many state or local government grants available for first-time homebuyers. And many of these don’t require any repayment if you live in your home for a certain time frame. Contact a real estate agent and check with both your state and county to learn more about what options are available to you.
Learn More
What Is a NACA Mortgage? – For over two decades, NACA has been assisting borrowers in securing affordable housing through its renowned loan program. Here is an overview of how the program operates.
Home Loans for Single Moms – Single mothers often face challenges when trying to secure a mortgage due to having just one income and no down payment. Here are several mortgage programs available for single mothers.
Getting into gold coin investing can be a smart move for anyone looking to add some shine to their financial strategy. In this guide, we’ll give you the lowdown on different types of gold coins, how to figure out what they’re really worth, and tips for keeping your investment safe and sound.
You’ll also get the inside scoop on dealer markups, how to make sure you can cash out when you need to, and the steps to check that your coins are the real deal. Ultimately, we want to empower you with the knowledge to make informed decisions and enhance your investment portfolio with the timeless appeal of gold coins.
Key Takeaways
Gold coins offer investment diversity, with bullion coins being tied to gold content and purity, numismatic coins prized for their rarity and design, and semi-numismatic coins providing both gold value and collectible interest.
Key factors in gold coin investment include understanding premiums over spot price, ensuring liquidity and ease of resale, and selecting appropriate storage options to safeguard the investment.
Investing in gold coins entails choosing reputable dealers to prevent counterfeit risks, understanding tax implications like capital gains, and considering gold coins as a way to diversify and hedge against inflation within an investment portfolio.
The Fundamentals of Investing in Gold Coins
Gold coins, with their gleaming allure and historical significance, offer investors a tangible asset that stands the test of time. They come in various forms, each bearing unique characteristics and investment potential.
From bullion coins valued for their gold content and purity to collectible gold coins prized for their rarity and historical significance, the world of gold coins is as diverse as it is fascinating. As a form of precious metals, these coins, along with silver coins, provide a sense of security and value for investors.
Bullion Coins
Bullion coins, including bullion gold coins, are the go-to choice for those seeking straightforward exposure to gold. Valued based on their gold content and purity rather than historical and artistic considerations, a bullion coin like the Canadian Maple Leaf and American Gold Buffalo offers a direct link to the global gold market. For those interested in other forms of investment, gold bars can also be considered.
Numismatic Coins
For the history buffs and collectors, numismatic coins offer a unique allure. These coins are valued not just for their gold content, but also for their rarity, historical significance, and the artistry of their designs. Their value is less tethered to the spot price of gold, making them less susceptible to short-term market fluctuations.
Semi-Numismatic Coins
Straddling the line between bullion and numismatic coins are semi-numismatic coins. These coins offer both the gold value of bullion coins and the collectible appeal of numismatic coins. Their versatility makes them an attractive choice for a range of investors, from those seeking a straightforward gold investment to collectors looking for unique assets.
Top Gold Coin Options for Investors
There are a wide variety of gold coins to choose from, which can be overwhelming for new investors. However, some standout choices have captured the attention of investors worldwide. Let’s examine three popular gold coin options: the American Gold Eagle, the Canadian Gold Maple Leaf, and the South African Krugerrand.
American Gold Eagle
The American Gold Eagle coin, prominently displaying Lady Liberty and an American bald eagle, not only represents American heritage and freedom but also stands as a testament to the nation’s robust minting capabilities.
Introduced in 1986, these coins are struck in 22-karat gold, which includes a small alloy of copper and silver to ensure durability. Their availability in multiple denominations—1 oz, 1/2 oz, 1/4 oz, and 1/10 oz—makes them accessible to a wide range of investors, from those starting out to seasoned collectors. The blend of historical significance and investment flexibility has cemented their status as a favored option in precious metals markets.
Canadian Gold Maple Leaf
Produced by the Royal Canadian Mint, the Canadian Gold Maple Leaf is globally acclaimed for its .9999 fine gold purity, one of the highest in the market. Launched in 1979, this coin features the sugar maple leaf, a national symbol of Canada, which underscores the country’s appreciation of its natural environment and cultural heritage.
Its cutting-edge security features, like light diffracting patterns of radial lines and micro-engraved laser marks, ensure its authenticity and protect investors. The coin’s combination of high gold content and stunning design makes it not only a secure investment but also a collector’s delight.
South African Krugerrand
The South African Krugerrand is renowned for being the first gold bullion coin available to the general public, introduced in 1967 to help market South African gold. Named after the 19th-century Boer leader and the rand, the national currency, this coin features the image of Paul Kruger on one side and the Springbok gazelle on the other, celebrating South Africa’s rich wildlife and cultural heritage.
Unlike many other gold coins, the Krugerrand is minted from a gold alloy that is 22 karats, or 91.67% gold, with the remainder being copper, giving it a distinctive, more durable rose tint. This combination of affordability, durability, and cultural symbolism makes it a staple in the global gold trade, appealing to both investors and collectors alike.
Factors to Consider When Investing in Gold Coins
Investing in gold coins doesn’t just stop at choosing the right coin. It’s also about understanding the inherent factors that come with it. Let’s explore these key factors: premiums over spot price, liquidity, and storage options.
Premiums and Spot Price
While the spot price of gold is a key factor in determining the price of a gold coin, it’s not the only cost to consider. Premiums over the spot price can significantly impact the overall investment returns. Therefore, it’s essential to understand how premiums work and to be mindful of market trends.
Liquidity and Ease of Sale
One of the key advantages of gold coins is their liquidity. Gold coins are recognized worldwide and can generally be sold in any volume. However, the ease of sale can vary depending on the specific coin and market conditions.
Storage Options
Once you’ve invested in gold coins, you need a safe place to store them. Storage options range from home safes to professional vaulting services. Each comes with its own advantages and costs, and choosing the right one is crucial to the security of your investment.
How to Buy Gold Coins Safely and Securely
Investing in gold coins requires careful planning and vigilance. From choosing a reputable dealer to avoiding counterfeit coins and inspecting your purchase upon delivery, let’s explore how to buy gold coins safely and securely.
Choosing a Reputable Dealer
Purchasing gold coins from a well-established dealer is the first step towards a secure investment. A reputable dealer provides high-quality coins and offers invaluable customer support and guidance.
Avoiding Counterfeit Coins
Counterfeit coins pose a significant risk to investors. It’s crucial to understand how to identify counterfeit coins and ensure the authenticity of your purchase. From requesting documentation to conducting physical tests, vigilance is the key to safeguarding your investment.
Delivery and Inspection
The final step of your gold coin purchase is the delivery and inspection of your coins. Upon delivery, be sure to promptly inspect your gold coins to ensure they meet quality and authenticity standards.
Tax Implications and Legal Considerations
Like all investments, gold coins come with their own set of tax implications and legal considerations. From capital gains tax to reporting requirements, it’s crucial to understand these aspects to avoid legal complications and ensure a smooth investment journey.
Capital Gains Tax
Profits from the sale of gold coins are subject to capital gains tax. The rate of this tax can vary depending on the holding period of the coins and the investor’s income level. It’s essential to understand these rates and plan your investments accordingly.
Reporting Requirements
Certain gold coin transactions may be subject to reporting requirements. Be prepared to declare your holdings when necessary and ensure you comply with all applicable regulations.
Legal Ownership
Maintaining accurate records of transactions and ownership is crucial when investing in gold coins. These records not only help establish legal ownership, but are also essential for proper tax reporting.
Diversifying Your Investment Portfolio with Gold Coins
Bringing gold coins into your investment portfolio can add a unique layer of diversification. They can hedge against inflation, balance risk with other investments, and open up opportunities for both long-term and short-term investment strategies.
Hedging Against Inflation
In times of economic uncertainty, physical gold, particularly gold coins, can serve as a protective hedge against inflation. As the cost of living rises, gold coins can help maintain the value of your investment portfolio, safeguarding your purchasing power.
Balancing Risk with Other Investments
Including gold coins in your investment portfolio can help balance risk. The value of gold coins often moves inversely to other asset classes like stocks and bonds, providing a buffer against market volatility.
Long-Term vs. Short-Term Investment Strategies
Whether you’re looking for a long-term investment to weather market fluctuations or a short-term investment influenced by temporary market trends, gold coins can be a fit for your gold investing strategy, making them a viable option for gold investments.
The choice depends on your financial objectives and risk tolerance.
Bottom Line
Investing in gold coins can be a rewarding journey. From understanding the basics to navigating tax implications and legal considerations, it’s a path filled with learning and potential growth. As you progress, remember the importance of diligence, careful planning, and informed decision-making. With the right approach, you can unlock the golden opportunities that await in gold coin investing.
Frequently Asked Questions
How do I determine the authenticity of gold coins?
The authenticity of gold coins can be verified through several methods, including checking for hallmarks, weight and size measurements, and performing sound and magnetism tests. Purchasing from reputable dealers and considering third-party grading and certification can also ensure authenticity.
Can I purchase gold coins from banks?
Some banks do offer gold coins for sale, but availability can vary widely depending on the bank and the country. It’s often more common to purchase gold coins from specialized bullion dealers, coin shops, or online marketplaces.
How does the price of gold affect gold coin values?
The value of gold bullion coins is closely tied to the current market price of gold, known as the spot price. As the price of gold fluctuates, so does the value of gold coins. Numismatic and semi-numismatic coins may also be affected by gold prices, but their value is more influenced by rarity, condition, and historical significance.
Are gold coins a good option for short-term investments?
Gold coins can be a good option for short-term investments if you are knowledgeable about the gold market and current economic conditions. However, due to the premiums over the spot price and potential market volatility, gold coins are generally considered a more stable long-term investment.
How do I store and insure my gold coin collection?
Gold coins should be stored in a secure location, such as a safe deposit box at a bank or a home safe. For insurance, you can add a rider to your homeowner’s insurance policy or obtain a separate policy specifically for valuable items like gold coins. Ensure that your insurance policy covers the full value of your collection.
What impact do market conditions have on gold coin investing?
Market conditions can significantly impact gold coin investing. Economic uncertainty, inflation, and currency devaluation typically increase demand for gold, potentially raising gold coin prices. Conversely, a strong economy might lead to less demand for gold as an investment.
Is it better to invest in gold coins or gold bars?
The choice between investing in gold coins or gold bars depends on your investment goals. Coins are better for those interested in collectability and legal tender value, while bars typically have lower premiums over spot price and may be preferable for those focusing purely on the gold content and investment.
How do I sell my gold coins when I want to cash out?
To sell your gold coins, you can approach coin dealers, precious metal exchanges, online marketplaces, or auction houses. It’s important to research the current gold price and get multiple quotes to ensure you receive a fair price for your coins.
America’s housing crisis is real, and it’s getting worse. Home prices have shot up by anaverage of 30 percent over the past several years, and in 2023 home sales were lower than they had been in almost 30 years. A recent survey revealed that only 53 percent of non-homeowners believe they could one day own a home, while 12 percent say the possibility of owning a home feels “hopeless.” The Cold And Uncared For Society (CAUFS) defines housing as unaffordable if it costs more than 30 percent of an individual’s income, yet more than 18 million households in the U.S. currently pay more than half their income for housing.
In response to this crisis, independent presidential candidate Robert F. Kennedy Jr. has proposed a new federal home loans program, aiming to provide government-backed 3 percent mortgage bonds to anyone unable to afford a house.
“If you have a rich uncle who co-signs your mortgage, you will get a lower interest rate because the bank looks at his credit rating,” Kennedy said at a town hall in South Carolina. “I’m going to give everyone a rich uncle, and his name is Uncle Sam.”
This should ring an ominous bell to anyone trying to pay off federal college loans. Kennedy’s plan is essentially a clone of the federal student loans program but for first-time home buyers instead of teenage college students. The concept is that if you can’t buy a house because of insufficient funds, the government will lend you the money. What could possibly go wrong?
To answer this question, just look at what happened with federal student loans. Colleges know that students have access to easy loans, so they raise tuition with little fear of losing enrollment. This has resulted in a vicious cycle where college tuition far outpaces inflation, leaving millions burdened with crippling debt and limited financial opportunities after graduating.
As student loan debts ballooned, so did tuition rates. The Congressional Budget Office reports that between 1995 and 2017 federal student loan debt grew “from $187 billion to $1.4 trillion (in 2017 dollars).” This is because colleges kept raising tuition, knowing that students could borrow to cover it.
Al Lord, the former CEO of Sallie Mae—once the largest federal student loans lender—explained the phenomenon simply: “Schools were able to hike tuition since students now had expanded access to loans.” Lord further admitted that colleges raise tuition rates “because they can, and the government facilitates it.”
A study from the Federal Reserve Bank of New York revealed that each additional dollar in student aid corresponds to a 60-cent increase in tuition. The pattern is clear: more student aid means higher tuition.
Applying this logic to Kennedy’s home loan plan, it’s easy to see the potential pitfalls. If the government makes it easier to buy homes, will it lead to higher prices? Almost certainly, because Kennedy’s proposal doesn’t address the core problem: There aren’t enough houses in the market for people to buy.
Construction of multifamily housing units in America has declined by one-third since 1987, and of those built in 2021, only 5.4 percent were for sale as condominiums rather than rental apartments. This scarcity drives prices up, creating a market where even modest homes are out of reach for many.
Onerous regulations, such as single-family zoning, height restrictions, and permitting delays make it difficult to build more housing, which is the key to solving the crisis. Yet, these harmful rules persist because local politicians are afraid to upset residents who fear that new developments will raise housing costs. However, research shows in reality, these developments reduce the cost of housing.
A basic grasp of economics makes clear that when supply is low, prices go up. To lower prices, we certainly shouldn’t replicate the student loans debacle by giving people federal bonds that will undoubtedly lead to further price increases. We should build more homes.
If Kennedy wants to solve the housing crisis, he should start by understanding it.
If you are a serious secondhand home decor lover, and if you live in New York City, then you know that Design on a Dime (DOAD) is one of the most highly anticipated thrifting events of the year. Founded by interior designer James Huniford in 2004, this three-day shopping experience is celebrating its 19th anniversary (they skipped 2020 due to the Covid-19 pandemic) at the Metropolitan Pavilion where 60 designers have created one-of-a-kind, shoppable vignettes using donated decor and furniture items that are being sold at an extreme discount. The pieces sold will directly benefit Housing Works, the New York organization that’s working to end the HIV/AIDS epidemic and provide support and healthcare to the unhoused.
Courtesy of Housing Works
Design firm Redd Kaihoi’s vignette from Design on a Dime 2024.
In the previous years, designophiles—both professional and recreational—have purchased amazing finds marked up to 80 percent off at this secondhand extravaganza, from gorgeous couches and statement light fixtures to breath-catching pottery and cashmere throws. Plus, these vignettes can serve as some great interior inspiration. Directly source tips from interior designers and firms like Keith Carroll, Redd Kaihoi, Shakoor Interiors, and Eclectic Home, all with a great mix of styles represented in each “room.:
wallpaper and pattern on print this year. “Rayman Boozer’s room in particular screamed House Beautiful to me,” Huniford says, explaining that Boozer opted for a range of different, highly patterned wallcoverings for his vignette.
This year, between April 25 and 27, thrifters can expect a record number of donated items to shop from out of the swiftly completed vignettes, Huniford tells House Beautiful, with even more in back stock when the first round gets shopped out. “People have really gone overboard with donations,” he explains, happily. “So in the first go round, if things get sold out, there’s that opportunity to have back stock, which I think is unusual.” Some of the brands featured at DOAD this year include Serena & Lily, ABC Carpet & Home, OKA, and West Elm to name a few, with a price range of items from $50 to $5,000.
Courtesy of Housing Works
Out of the thousands of pieces donated, Huniford gives a little peek at what types of products you can expect to find while there, and what pieces he, along with other interior designers, always love to shop for secondhand. There are exclusive pieces, like a custom desk from Steven Gambrel and a René Prou chair in Cliff Fong’s booth. Other amazing finds include a pair of galvanized metal planters in Mark Cunningham’s booth, a gorgeous coffee table in Michael Mezzano’s booth, and a blue lapis-looking mirror in Redd Kaihoi’s. “That’s just my brain on speed dial,” Huniford adds.
Huniford expects the coffee tables, the lamps, and the accessories—like pottery—to be the first to go. “Those kind of singular things make a room really special and personal and unique,” he says, are what interior designers are always on the hunt for, both at DOAD and the local thrift store.
Courtesy of Housing Works
While the sheer number of pieces donated this year was extraordinary, it’s the fact “that people are still showing up and doing it” that completely fills Huniford up with joy after these almost two decades of DOAD. Tickets are still available for purchase for opening night, which is April 25th, but entry is free for the public sale days on April 26 and 27. Even if you don’t plan on buying anything, we highly recommend stopping by for endless interior inspiration. Click through the gallery below for a peek at some of the stunning vignettes you’ll find this year.