Home security is an issue that everyone needs to take seriously. Unfortunately, many people may be inadvertently overlooking some aspects that may not seem like much, but that can end up putting the security of their homes and families at risk.
Here are ten common home security mistakes that can be easily corrected.
Hiding spare keys outside
It is convenient to have a spare key hidden outside just in case you get locked out of your home. It’s also easy for intruders to find them.
If you must hide a spare key outside of your home, you should never put it in an obvious place. Don’t hide it under the mat or above a light fixture, or any other element that might stand out.
Having large foliage right next to your home
By having large foliage right next to your home, you could be creating a place for intruders to disguise themselves.
They can easily hide inside of a bush or behind a tree. If you must have foliage right next to your home, you should choose items that are small in size and aren’t very dense.
Not having proper lights
It’s all too easy for intruders to hide in the dark. You can easily solve this by having an adequate amount of lighting outside of your home.
Don’t forget to put your lighting system on a timer as well. This will allow your lights to automatically come on even when you are not at home.
Installing privacy fences
Many of us like our privacy. However, a privacy fence can put you in danger. These types of fences can make it all too easy for thieves to hide, and it can be difficult for a neighbor to spot an unauthorized person on your property. If you have a privacy fence, intruders can break into your home without anyone even seeing it.
Keeping valuables in plain sight
You could be inadvertently encouraging a thief to break into your home by having your valuables in plain sight.
Be mindful about leaving your blinds and curtains open. If you do plan on having them open to let in some natural light, you need to make sure things like jewelry and money aren’t in plain sight.
Not using your alarm system
A good home alarm or wireless security system is great for keeping intruders out of your home. However, you may not be using it like you should be.
Many homeowners forget to set their alarm. It really can’t do its job if it isn’t armed. Even if you have a sign in your yard that lets others know that you have an alarm, it won’t do much good if you never use the actual alarm system itself.
Posting too much personal information on social media
We all want to let our friends know when we go on vacation or have a fun evening out.
However, you could also be letting others know that your house will be empty for an extended period of time.
So it’s always better to post those vacation photos once your trip is over, whenever possible.
Letting your mail pile up
Many people don’t realize that their mail is one of the most common ways for intruders to find out when a home is empty. They will look in your mailbox to see if your mail has piled up for several days, and know to time their actions accordingly.
If you will be going out of town, have your mail service temporarily suspended. You can also ask a trusted neighbor to collect it for you while you are gone.
Putting the packaging of expensive items by the trash can
If you put packaging from an expensive item like a laptop or tablet by your trash cans, you will be letting thieves know that you just purchased these items.
Instead of doing this, you should cut up the packaging so that it fits into your trash can or recycling bin. This will allow you to still throw away the packaging in a way where you won’t be announcing to everyone that you just bought an expensive item.
Not locking your doors in the daytime
Burglaries don’t just happen at night. It’s actually very common for them to occur during the day as well.
In fact, many burglars target homes only during the day. This is because they assume that occupants are at school or work.
Don’t leave your doors unlocked when you aren’t at home. Even just a quick trip to the store can put your home at risk. You need to lock your doors no matter what time of day it is.
Don’t forget to check your windows as well. You’d be surprised at how easily an intruder can find their way into a home, even if it’s through a second-story window that you failed to lock.
In conclusion, many homes aren’t as secure as they can be. Many individuals are putting themselves at risk by making the security mistakes mentioned above. Fortunately, all of these mistakes can be avoided. By being mindful about security at all times, you can easily keep your home secure and keep intruders out.
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If you’re staring down a to-do list full of DIY and landscaping projects, well, there’s no better time to start! Investing in the outside of your home does a few things for you. Some projects can bring more literal value to your home when it comes time to sell, but other upgrades and fixes will have buyers imagining themselves in your manicured backyard garden.
Not sure where to start? We’ve got the answers.
Types of Landscaping
There are so many ways you can make your yard look like a million bucks without spending a million bucks. Whether you’re into one trend or another, a well-maintained yard is key. Plan and decorate your yard in a way that will make it easy for you to care for. Start with deciding what kind of landscaping you want in your yard.
Xeriscaping
Sometimes people call this hardscaping. You know, cause most things in the yard are solid, non-living beings. Here are a few things you might find in a hardscape yard.
Patios
Wider walkways
Retaining walls
Drought resistant plants
More areas covered with small rocks
Large rock features
Small pools/ponds
Fountains
If you live in a hot, dry climate, you might want to explore xeriscaping. This allows you to cut down on water use and you don’t have to worry about maintaining anything lush and green.
Softscaping
Softscaping is the opposite of hardscaping. This is the yard you imagine when you think of a traditional home with a white picket fence. Grass, shrubs, trees, flowers, all of these things usually make up a softscape yard. For this type of yard, you’ll want to be aware of your climate and surrounding wildlife. If you live in an area with all four seasons, either option will be good for you. That just depends on whether or not you want to bring your lawn and plants back to life after winter. You should also be aware of what local animals might wander into your yard. Deer are notorious for eating plants, so think about deer proofing if you have to.
The Cost of Changing Landscaping
Initial cost for both types of yards will likely be similar. As with anything, it will depend on how much you want to do. With a softscaped yard, you can trim a topiary elephant. With a hardscaped yard, you can add more bricks and stones for patios, or perhaps install a fancy fountain or pond. However, if you aren’t intent on going wild, the initial cost will likely be well within reach.
Bring it to the Front (Yard)
When it comes to landscaping, the front yard is the grand showcase. It has to hit the mark with a solid dose of curb appeal. If your goal is to add value to your home, you’ll want to spend most of your time here.
What should happen in the front yard to make it a great attraction? The first thing to do is plan what you want the yard to look like with your soft or hardscaping. Take into consideration the space you have to work with and how hard it will be to get to the areas you need to maintain regularly. If you want your sun-loving flowers to get the rays they need, think about crafting or buying a planter you can place in an optimal area, or set up a beautiful flower bed that’s not in the shade of large trees.
Seeing Green
If you have mature trees and plants, think about transplanting them over removing them entirely. If you’re looking to sell in the near future, many buyers love vegetation that is already done growing so they know what to expect.
Pathways and curbing through the yard can create a unique look for your yard, but be thoughtful about where you’re placing them. They can create issues with lawn mowing, weeding, and sometimes walking.
Bring it to the Back (Yard)
While the front yard does the job of drawing people in, you don’t want to shortchange the backyard. While the front yard attracts buyers, the backyard can win them over. Many buyers want to hang out and host gatherings in the backyard. Design the back landscaping to be comfortable and full of fun, while still functional.
Shade is a key factor for many homeowners. Since backyards are a top hangout spot, you’ll want to make sure there are shaded areas to take a break in. Try picking trees that get large enough to create these spaces but not so large they take over. This is an especially important factor if you don’t have a covered deck or patio.
Should You Get a Pool?
To pool or not to pool? That is the question. Not all yards are made for a pool. You don’t want to walk into a backyard that looks like a water park. Not to mention, this leaves no room for entertaining. Ask around the neighborhood and see if pools are a popular choice in the area. This will help you determine whether or not pools are in demand.
Keep in mind that planning for kid-safety is a must if you’re going to own a pool. There’s far more to it than just putting up a fence. If you see a hazard in your backyard, a potential buyer likely will too.
Take Inspiration Where You Can Find It
At the end of the day, spending time and a little money improving your yard will add value to your home, even if it’s not necessarily monetary. It’s the curb appeal that will attract people to take another look. Make sure potential buyers realize at first glance that indeed the grass is greener in your yard. If you’re ready to put in the work to improve your home’s landscape, or you already have, contact Homie if your next step is to sell!
Your outdoor living space is a place where you should be able to relax, clear your mind and regain energy. This is the main reason why people who are lucky enough to have a backyard or front yard, invest heavily in beautifying them.
You definitely don’t need to break your piggy bank to make this space look gorgeous. From gazebos, picnic tables, or outside benches, there are hundreds of outdoor structures that you can choose from. However, if you want to accent a special area, pergolas are the way to go.
Maybe you’ve already read about vinyl pergola kits in home improvement blogs and channels. They are an easy and great way of decorating your yard so that you can take full advantage of it.
If this design idea has piqued your curiosity, here is what you need to know about pergolas.
What is a pergola?
Pergolas are large column structures that consist of a beamed ceiling. They are usually made out of wood and placed as a roof for patios and front yards. Those who are not familiar with its appearance would generally regard it as having an unfinished look.
A pergola intends to provide a place where people can hang out. Although the ceiling consists of beams, you can cover it using tarps, portable canopies, and fabric sails that provide shelter from the rain or the sun. However, you can always leave the beamed ceiling as it is so that you and your guests can enjoy the light that shines through.
What is the difference between pergolas and arbors?
Pergolas usually get mistaken for an arbor. The former is generally more extensive, and its structures attach to the house. On the other hand, arbors are relatively smaller and usually function not as a shade but a design for entrances and exits.
The most popular types of pergolas
Much like gazebos, a pergola can be made out of three materials: metal, wood, and vinyl. For homeowners, wood and vinyl pergola kits are the most popular choices. Deciding which you prefer really depends on what material goes with your overall outdoor design and how much you are willing to spend.
Why you should have a pergola
Simple! They are great outdoor structures not only because they provide a breathy shade, but also because they are customizable. When you hold parties, you can add accessories according to your theme and change the roofing materials any time you like.
Moreover, they are also a great space to place your plants. Most gardeners hang flowerpots, plant grapevines or ivies. These plants usually cover the pillars of the pergolas, making the whole structure look like a dreamy ancient column.
Ways to decorate a pergola
Once you have found the design that you were looking for, you might be wondering what kind of furniture or items go with it.
Generally, sofas and outdoor seating are the first choice for homeowners who prefer having a place to hang out with their friends. Pergolas are an ideal place to set up a dining table where you could spend Sunday brunches and host dinner parties.
On the other hand, you could convert them into a greenhouse or a place where you can enjoy outdoor cooking. Some people place them over their pool or Jacuzzi to provide shade and protection from rain.
There are many ways to decorate a pergola and you can use your imagination to make it aesthetically pleasing while also functional. That’s what makes them the perfect addition to your outdoor living space.
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Melissa Joan Hart, the child actress who later shot to fame on the show “Sabrina the Teenage Witch,” has entered the rental market.
For a mere $8,500 a month, you can drop your bags in her three-bedroom, four-bath, 1950s abode in Studio City, CA.
The 2,300-square-foot, stately brick home is simply enchanting.
Care to be bewitched? Take a peek inside and decide whether the dwelling is indeed touched by magic.
The gated home sports a large front lawn. The interiors feature a soothing white palette. There’s a living room with doors that open to the yard, and the kitchen is equipped with stainless appliances, a pantry, and a country sink.
There’s a mini suite on the first floor and a larger primary suite upstairs. The latter features a lofty ceiling, fireplace, walk-in closet, and private patio. The bathroom comes with skylights as well as a spacious spa shower.
White isn’t the only shade you’ll see inside—there are also welcome color pops, including a royal blue bedroom, another with sea green walls, and a joyful blue-and-green-striped bath.
Outside, the verdant yard includes leafy vines and colorful perennials.
Hart is also a director and co-owner of a production company. In 2021, she was the first star to earn $1 million for charity on the show “Celebrity Wheel of Fortune.”
Seattle may be cold and rainy, but these apartment spas are the perfect place to escape the elements in the Pacific Northwest.
When you live in a city where it rains 9.4% of the year, it’s essential to have a peaceful place to escape to that’s protected from the unpredictable elements outside. The apartments on this list stand head and shoulders above the rest of the Seattle apartment scene and provide residents with everything they need to unwind and recharge within Seattle’s best spas without leaving their buildings.
Whether you’re a practicing yogi, a busy nine-to-fiver or simply someone that enjoys the spa treatment, these apartments offer up a long list of amenities tailor-made to help you disconnect from the stresses of daily life.
Source: Rent. / Onni South Lake Union
It almost isn’t fair to call Onni South Lake Union an apartment complex. That’s because the list of amenities on offer at this Cascade complex is over the top in all the right ways. Onni South Lake Union provides residents with everything they need to unplug and unwind. The residents of this 795-unit apartment community benefit from an on-site sauna, steam room and yoga room.
That’s not to mention the indoor pool and jacuzzi that rivals that of the most exclusive spas and clubs in the country. This indoor oasis has a large pool and hot tub as well as a plunge pool. Good luck finding all that at another apartment complex.
Source: Rent. / The Ivey on Boren
Every amenity provided at The Ivey on Boren is executed to the highest degree. There’s no better example of this than the serene yoga studio. With huge windows, soaring ceilings and a mirrored wall, this proves the ideal place for stretching, self-reflecting and recharging in peace.
In addition to the stunning yoga studio, The Ivey on Boren also boasts a dry sauna and plunge pool in addition to an elevated outdoor pool and jacuzzi. With all these amenities at your fingertips, you’d be hard-pressed to find a better place to call home in the Denny Triangle area.
Source: Rent. / Kiara
Kiara is a 461-unit apartment complex that provides the residents lucky enough to call it home with a long list of spa-like amenities. Including a sizable stretching room, a gorgeous pool and some of the most luxurious bathrooms you’re ever going to find, this place is perfect for people that want to unwind whenever they’re at home.
These luxury high-rise apartment homes in South Lake Union offer some of the most stunning views in Seattle. Imagine an unobstructed view of the Space Needle while you brush your teeth before bed. Picture getting ready in the morning while watching the city go by outside. Life at Kiara is about as close as you can get to actually moving into a five-star hotel.
Source: Rent. / Helios
Helios is a stylish high-rise apartment complex that provides residents with everything they need to relax and recharge. The expansive yoga studio boasts light-wood flooring, a mirrored wall and all the equipment required to undo the stress and tension of a long week. Whether you stretch every morning or just need a quiet place to chill every once in a while, you’ll feel at home at Helios.
This Pike Market paradise also boasts a large rooftop deck with some of the best Elliott Bay views in existence. It doesn’t matter if you’re a dedicated yogi or more of a stare-out at-the-water-and-reflect-on-life type, Helios has what you need to stay sane.
Source: Rent. / Avalon Belltown Towers
Avalon Belltown Towers has some of the most stunning common areas you could ever imagine. The property is also peppered with outdoor seating areas accompanied by fire tables to help fight off the Pacific Northwest cold.
The indoor common areas in this Belltown beauty are just as stunning as well. These spaces boast chandeliers that look like they belong on a large French estate and light fixtures that may as well have been pulled out of a modern art museum. You’ll find the common areas undeniably calming and a wonderful place to unwind after a long day before locking up your apartment for the night.
Source: Rent. / The Waverly
The luxurious amenities at The Waverly leave residents wanting for nothing. The numerous common areas throughout the complex all boast designer furniture and an undeniably cool vibe.
Beyond that, what really earns the Waverly a place on this list is the elevated bathrooms. Laid out to maximize space and comfort, the bathrooms in these upscale apartments are second to none and a great place to start and end your day.
This Cascade complex also provides a spa for the resident pups. This area has a long turfed run area so your furry friends can strut their stuff and stretch out without having to leave the complex.
Source: Rent. / Coppins Well
Another apartment complex on the list that earned its spot because of its spa-style bathrooms is Coppins Well. Built-in shelving, soaking tubs and plenty of counter space make the in-unit bathrooms at Coppins Well so calming and serene.
Beyond that, the common areas in this First Hill complex are second to none. Large windows, designer lighting and comfortable furniture are what you can expect to find in these communal meeting spots.
Whether you’re looking for a quiet corner to crack open a book or hoping to enjoy a cocktail with a neighbor, Coppins Well provides its residents with plenty of space to relax and unwind however they like.
Source: Rent. / Harbor Steps
Located in the heart of Downtown with the hustle and bustle of the big city all around, it can be tough to imagine finding a serene spot to unplug from the worries and responsibilities of the real world. That’s exactly what the yoga room at the Harbor Steps provides for residents.
This well-lit, roomy space with light-wood flooring and a mirrored wall is perfect for dedicated practicing yogis, novice stretchers or anyone looking for a little peace and quiet outside of their apartment unit.
Source: Rent. / Met Tower
With an indoor spa and pool, it’s easy to see why Met Tower is on the list. Let’s be honest, it looks more like a spa where’d you have to pay triple digits just to enjoy a session than it does a common area in an apartment. These upscale Denny Triangle apartments are all about letting residents live the good life and it’s easy to see from their elevated amenities package.
Met Tower also has a private resident library complete with floor-to-ceiling shelves, leather couches and large windows. There may not be a better place in all of Seattle to kick back with a good book than this stunning study.
Source: Rent. / Westlake Steps
Located on the shores of Lake Union in the scenic Westlake neighborhood, Westlake Steps is an undeniably comfortable place to call home. Many of the apartments feature oversized bathrooms with large countertops, soaking tubs and ample lighting. The ideal place to decompress while you complete your before-bed routine, here you can let the stress of the day slip away before you head to sleep.
Westlake Steps also has a sprawling green area on the roof with space for yard games and sitting areas with loungers and more. Regardless of your preferred method of recharging, you’ll find what you’re looking for at Westlake Steps.
Indulge in the best spas in Seattle
Few cities call for the need for spa-style amenities more than Seattle. With cold weather and constant rain, not much matters more than the amenity package provided by the place you call home. Sign a lease at one of these legendary spa-style apartments today and enjoy the good life in all its glory.
Featured Image Source: Rent. / Onni South Lake Union
Without a doubt, the outdoors is coming alive. Now to bring all that freshness inside.
Here are a few ideas for easy, budget-friendly touches around your home that will make it feel like spring has truly sprung.
A pretty spring wreath. Now’s the time to put up a welcoming and flower-festooned wreath to let guests and neighbors know that, yes, you do indeed know what time of year it is. In the interest of reducing waste and saving money every spring, I recommend buying a high-quality faux (but realistic-looking) fabric version that you should plan on using again and again for the next five years or so. For that functionality, I like designs such as Monique Lhuillier’s Faux Lemon Wreath & Garland ($126 on potterybarn.com), which looks completely real and brightens up any entryway.
Bring the outside in. While I absolutely love having fresh blooms around my house, it can get expensive and a little annoying to have to constantly replace flowers after they die. Here’s something that lasts a lot longer but has the same net effect: spring branches. Buy some or get them from your yard — a bundle of branches from trees like forsythia and quince just need a few days in water indoors to start blooming. And they last up to a month if you change the water every week.
Swap out the placemats. You don’t need to go buy a while new set of serveware; just change the background for a brand new look. I prefer placemats to tablecloths because they’re modular and if you spill on one, there’s far less to wash or clean up. Also, since they cover less space, you can take a few more risks with wild patterns that make a statement. Consider something like the Citrus Garden Placemats by Matouk ($108 on bloomingdales.com), which makes a big, bright impression through the meal. Or get a little mod at the kitchen table with the Mirimo Florapop Spring Placemats by Deny Designs ($50-$75 on target.com). I love their fun, casual whimsy.
Brighten up the bed. Lighten up your nights with a new, thinner, lightweight duvet, and then cover it with something that freshens up your entire bedroom. Go for something sweet and lovely like the Spring Party Duvet Cover ($211 on annieselke.com) — with a bevy of little blooms dancing across it. Or go a little bolder with the hot pink-and cherry red Unikko Duvet Cover & Sham Set by Marimekko ($129.99-$179.99 on nordstrom.com).
Add more natural light. One of the smartest and simplest ways to add more natural light is to capture light near a window and reflect it. By adding a medium- or large-sized mirror to an entryway, for example, you’re creating different points of light and all kinds of new dimensions. And I love choosing mirrors that are themselves a work of art — like vintage-y, 1920s-inspired Daughtrey Modern & Contemporary Accent Mirror ($133 on wayfair.com), or big-drama shapes like the Elinor Rattan Wall Mirror ($229 on westelm.com).
Bring on the bright sofa pillows. There’s no need to buy the whole shebang, in many cases you can just purchase the pillowcase to refresh the look. That’s the case with the Palm Pillow Cover (on sale for $39.99 on serenaandlily.com) in a warm sunflower hue. Or double down on the natural vibe with a softly colored design like the Ivory Coral Whimsy Embroidered Pillow Cover ($89 on garnethill.com). Added to your sofa or favorite chair. It’s as good as instant sunshine.
A Great Credit Score, but She Can’t Get a Mortgage
Despite solid financial track records, many older Americans have a hard time refinancing because of their mortality risks and lower retirement incomes.
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Published April 8, 2023Updated April 11, 2023
In late 2019, Molly Stuart’s contract ended at the community college where she worked. “Normally, I’d just get a new job, but then Covid happened,” she said. So she collected unemployment for awhile, then retired.
In 2021, hoping to give herself some financial breathing room, she tried to refinance the three-bedroom ranch house she had bought 18 years earlier on an acre of land in Sacramento County, Calif.
“I’m an extremely good risk,” said Ms. Stuart, 60, a lawyer. She had a 30-year work history and a credit rating above 800. Her remaining mortgage was $102,000, but she estimated that the house was worth about $500,000. She had already paid off the mortgage on another house in Sacramento, which she rented out.
But her mortgage company denied her application. “I didn’t qualify for a refinance because I didn’t have enough income,” she said. “It was extremely frustrating.”
higher credit ratings than any other age cohort, yet recent studies have shown that they’re substantially more likely to be rejected for most kinds of mortgages. That raises barriers for older Americans hoping to renovate or retrofit their homes, or to extract home equity as a buffer against medical expenses, widowhood or other crises.
Much of older adults’ wealth is tied up in real estate. Among homeowners aged 65 to 74, home equity represented about 47 percent of their net worth in 2019, according to federal data; among those over 75, it was 55 percent. Among Black homeowners over 62, it accounted for almost three-quarters of their net worth.
But a house is not a financial asset, noted Lori Trawinski, director of finance and employment at the AARP Public Policy Institute in Washington. “It only turns into a financial asset if you take out a loan or you sell it.”
Getting that loan may be harder than owners expect.
analysis of more than 9 million mortgage applications collected through the Home Mortgage Disclosure Act from 2018 to 2020. He found that rejection rates rose steadily with age, particularly accelerating for applicants over 70.
paid slightly higher interest rates when they took out either refinances or new purchase mortgages.
The study’s methodology controlled for credit scores and property types, as well as economic and demographic factors, said Alicia Munnell, director of the Center for Retirement Research at Boston College, which republished Dr. Amornsiripanitch’s work. “He’s looking at the well-heeled and the less well-heeled. Age is still a factor.”
The federal Equal Credit Opportunity Act has long prohibited discrimination by age, as well as race, color, religion, national origin, sex, marital status, and receipt of public assistance income. Lenders are allowed to inquire about an applicant’s age, but that information may only be used legally under limited circumstances.
Dr. Amornsiripanitch determined, for example, that lenders attributed more than half of their rejections of older applicants to “insufficient collateral.” He speculated that lenders didn’t find those homes to be worth as much as applicants had thought, possibly because older owners occupy older homes, and might have deferred maintenance.
more apt to have debt, and more of it, than previous generations. That affects their debt-to-income (D.T.I.) ratios, a metric that lenders pay keen attention to.
“High D.T.I. is a key denial reason,” said Linna Zhu, a research economist at the Urban Institute in Washington whose research has also documented higher rejection rates at older ages.
A study she published in 2021 found mortgage denial rates of 18.7 percent for people over 75, 15.4 percent for those 65 to 74 and 12 percent for people under 65.
If you’re shopping for a home, you’ve probably created a wish list to narrow down your search. Biggest purchase of your life, right?
Once you’ve landed on the number of bedrooms and bathrooms, and how important granite countertops and hardwood floors are, you’ve likely considered the L word: Location. Homeownership is a long-term relationship, and you’ll want to make sure to do your homework when dating your future neighborhood. Finding the best qualities of a great neighborhood is all about knowing where to look.
Here are a few ways to score a home and its neighborhood, no matter where you’re shopping!
Schools
Maybe you’ve got a baby on the way, or perhaps you’re single and kids are the last thing on your mind. Don’t worry, we got you either way. Buying a home in close proximity to a thriving school is more important than you might think. Diaper bag or not, you should do your homework on the schools near the home you are interested in. A buyer should do their own independent research to gain their greatest understanding of the neighborhood.
K-12
Trust us, you should care about how well schools in your area are doing. Let’s break the stats down for you. Here’s what you need to know, as suggested by the National Association of Elementary School Principals.
Check out the school district’s annual report.
What is the school’s discipline policy?
Check to see what services are available at the school.
What is the school’s safety policy?
Is there an active parent organization?
Doing research on local schools before you make an offer on a home can pay off. Good schools mean good neighborhoods, stable home values, a higher selling price, and better education for kids. Online resources like SchoolDigger.com and GreatSchools.org are especially helpful for evaluating schools.
School Digger ranks schools compared to other options in the state. You can narrow the search by city, neighborhood, and school level. The color code helps you quickly identify the rank of the schools in your preferred search area.
Great Schools provides a robust review platform where users can rate their local school. Reading the reviews is helpful for getting a good overall feel for the school environment.
Alright, bachelors and bachelorettes, we see you, you can put your hand down. What’s the big deal about buying near a good school if you don’t have kids? Two words: resale value. This is important, for real. Living near a thriving school means better teachers and better test scores, but in the bigger picture it also helps maintain the value of a home and ensure a faster resale. Homes located in high-quality school districts tend to sell quicker than homes near lower ranked schools. Be prepared that property taxes can be higher too… but that can be a good thing!
A good chunk of those taxes will go back to the local schools, which supports their programs and, in turn, makes for a great neighborhood to own a home. Everybody wins!
Post-Secondary Education
OK, so your dream home isn’t near any K-12 schools. Don’t fret! Post-secondary schools are good, too. Colleges, trade schools, and universities bring their own value to the neighborhood table. Here’s what you can look forward to:
Value. Like schools for younger kids, living near a college or the like can raise the likelihood of your home selling for more money later on because of pure proximity. People like to walk to places! They can save money on gas and not have to worry about parking.
Mature neighborhoods. If you live in the general area of one of these types of schools, it’s likely that the crowd is a bit older. If you’re looking for a mature neighborhood where you can find friends with similar interests, this is your best bet!
Entertainment. College towns are notorious for having plenty to do. Cute shops, restaurants and other fun places pop up all over in these areas because college kids like to have plans in the evening and on the weekends.
It’s important to note that these schools also bring a few less-than-ideal things to the table, too. Parties, full parking lots, and lots of traffic are sure to come with this area.
Commute
No one wants a commute to work that lasts as long as half a work day. However, some people can tolerate a commute that’s around an hour or so depending on how much they LOVE where they live. When you’re considering a neighborhood, don’t forget to take a peek at commute time on regular roadways and alternate means of transportation.
Public Amenities
There are a lot of public structures and activity areas that you can take advantage of. Many people like to live near these because they’re the best price: Free! Here are a few you may want to live near (preferably within walking distance).
Playgrounds
Playgrounds are the perfect gathering place for young families to meet and hang out without spending any moolah. There are also usually wide open spaces for family sports or rentable covered areas to host the next neighborhood picnic.
Dog Parks
Dogs are literally the best. See which parks will make your furry friend bark with enthusiasm with these resources. Find Your Park and Nylabone’s Dog Park Locator to find outdoor spaces in a neighborhood.
Libraries
This essentially goes in hand with a nearby school. Why buy books you’ll only use once when you can check them out for free? Libraries are also usually well-maintained so they provide a beautiful addition to the neighborhood.
Sports Areas
Some cities and neighborhoods offer basketball or tennis courts and other areas to play sports. There might even be a community pool! These are a great way to keep neighborhood kids outside and playing, as well as providing a place to connect with your neighbors.
Population
Proximity
In addition to all of the above, it’s important for you to consider the population size and density of your new neighborhood. Would living in a bustling urban metro area be your ideal neighborhood? Or do you prefer the peace and solitude of a rural neighborhood? Maybe a home in a suburban community geared toward young families is your preference? Whatever your liking, you’ll want to take population into account when seeking the best neighborhood for your individual needs.
Crime
It’s always important to check the crime rate of places you’re looking to move into. While crime happens everywhere, basically no matter what, you want to feel safe. You can find out this info with a simple Google search of city name crime rate.
Liveliness
It might be hard to get a good read on a neighborhood unless you have an opportunity to interview all of your potential neighbors. You can certainly knock on doors and ask questions, but if that’s not style here are a few key factors to consider when sizing up the vibe of a neighborhood:
People out and about. Seeing neighbors walking dogs and playing with their children in the front yard is a good sign of neighborhood vitality and safety. Future friends, yay!
High curb appeal. This is key for two reasons. First, it indicates that homeowners take pride in investing to maintain their properties. Second, it highlights that city services are functioning well, with paved streets and proper trash pickup services. In this case, go ahead and judge a book by its cover!
Nightlife. Visit the neighborhood during the daytime and evening hours, as well as on weekdays and weekends. This will help paint a realistic picture of what it might be like to live in the neighborhood. You’ll want to see all sides of your future home.
Home Insurance
The location, condition, and construction of a home will all play a part in determining home insurance cost. Here are just a few of the factors that a company will consider when quoting a home for an insurance premium:
Age and construction
Proximity to a fire station
Nearby coastline or body of water
Other features of a home will also be examined, but these three factors are closely tied to the neighborhood where the home is located. Insurance is about risk, and companies will assess risk in different ways. Always be sure to compare quotes to make sure you are getting the best rate for your coverage.
The End Goal
The qualities of a great neighborhood outlined above should prove helpful in the quest for finding the best neighborhood to fit your personal needs and lifestyle. Location isn’t the only critical consideration for resale value but it’s pretty dang important. A homeowner should enjoy and feel at home in their neighborhood. Buying a home is a long-term relationship, so take dating slowly and get to know each other before you take the next big step. You’ll want to make sure you and your new neighborhood are going to have a long and happy life together!
A Homie Can Help
Feeling overwhelmed with where to begin? Start browsing homes with Homie and see how easy it can be. Our team of licensed agents and experts are ready to help you find the home of your dreams, in a great neighborhood! All while saving you money. Pros that love contacts and legal jargon and want to help? Heck, yes! Oh, and they want to save you lots of dollar bills? Even better!
We made your neighborhood evaluation a bit easier, check out these guides!
I bought my first rental property in 2010 when the market was much different! I bought a single-family home for $97k that rented for $1,050 a month. I know many people would love to go back to those days but the reality is prices will most likely never be that low again in most markets. While I bought a single-family home for my first rental, there are many other types of rentals and I have since bought multifamily, commercial, and mixed-use rental properties. The type of property that is best for beginners in today’s market with high-interest rates and high prices will depend on many factors.
What was my first rental property?
The first property I bought was a 3 bedroom, 2 bath, 2 story house with a 2 car attached garage. The home was built in 2005 and did not need a lot of work. I bought it in Greeley, Colorado and while prices were much lower back then, I still got a great deal. I took my time looking for properties and this was an estate sale. The home needed some paint and that was about it. It was a fantastic property for my first rental. I used Bank of America to get a 25% down investor loan which was not easy but luckily the seller was patient! While properties were cheaper then, it was much tougher to finance them and there were much fewer options for investors.
I later sold that property for $275,000 in 2019 and used a 1031 exchange to buy a commercial property for $600,000. I think buying a single-family rental was an awesome choice for me at that time. However, this property would not be a very good rental now as it is worth around $350,000 and would only rent for $1,700 to $1,800.
Are single-family rentals good for beginning investors?
I think single-family rentals are great for beginners if the numbers work out. However, with high rates and high prices, the numbers simply don’t work in many areas. There are areas of the country that have cheaper houses that are great for single-family rentals but we aren’t all in those places. Here are some of the pros and cons of single-family rentals:
Pros
Large buyer pool if you need to sell: Single-family homes are attractive to investors and owner-occupants. When buying a rental as a beginner it is smart to have an exit strategy. Maybe the property is not as good as you thought it was or you decide you hate rentals. Can you sell the property? If you need to sell a single-family home you can sell to other investors or owner-occupants. Owner-occupants will often pay more than investors and they are always buying homes even when interest rates are high. Investors may slow down their buying when rates are high.
Easy to rent and manage: Single-family homes appeal to many renters and are usually easy to rent. Tenants also have a tendency to stay in the property longer and take care of it. I have had the same renters for 10 years in some of my single-family rentals. Many tenants will even make minor repairs themselves (not always a good thing) and maintain the yards, perform snow removal, etc.
Easier to find a good deal: In most areas, there are more single-family homes than other types of rentals. Because there are more of them there are usually more for sale and you might be able to get a better deal than on multifamily or commercial where there are much fewer properties.
Easier to finance: Lenders love to finance houses, even as rentals. It is much easier to get a loan on a house than a commercial property, multifamily, or mixed-used property.
More diversification: If your plan is to buy a lot of houses, like my plan to buy 100, it can be a little safer than buying a few big properties. Each house will be in a different area, with different tenants, and one horrible situation won’t destroy all your houses.
You can house hack a single-family home which means you buy as an owner-occupant and rent out part of it while you live there or live there a year and then rent out the whole thing. Owner-occupants get much cheaper loans with less money down.
Cons
Harder to cash flow: The big con with single-family rentals, especially right now is they can be very expensive compared to the rent they bring in. The more expensive the property, the worse the rent-to-value ratio tends to be.
Houses are expensive right now: Most properties are expensive but in some markets, houses are very expensive, and the higher the price, the more money you will need to invest in them.
Tougher to scale: It is tougher to scale when you need to buy a lot of houses to meet your goals. Each purchase takes work to find the deal, finance it, and possibly make repairs. If you buy larger multifamily or commercial it can be easier to scale.
More expensive to repair: It might be more expensive to repair single-family homes than a larger building because a larger building has one roof, possibly one heating system, etc. However, that roof and heating system on the big property will be much more expensive to repair and you will need a lot more money at once, than if you are repairing houses here and there.
Are small multifamily rentals good for beginning investors?
Multifamily rentals have more than one unit. You could invest in a duplex or a fourplex or a 100 unit property. Multifamily properties can make it easier to scale because you have more units under one roof and the rent-to-value ratios may be better. These pros and cons are for smaller 2 to 4-unit multifamily properties.
Pros
Can have much better cash flow: Multifamily properties are usually valued based on the income they produce. The prices are not driven up by owner-occupants who do not care what a property will rent for.
Somewhat easy to sell: 2 to 4-unit properties are fairly easy to sell still although not as easy as single-family homes. You can still house hack a 2 to 4-unit property which means owner-occupants can buy them. There are not a lot of people looking to house hack but you can still sell to investors and owner-occupants.
Easy to finance: Again, 2 to 4-unit properties are fairly easy to finance but not quite as easy as single-family homes. You can buy as an owner-occupant or get an investor loan with many banks.
Easy to get a good deal on: There are a lot of 2 to 4-unit properties in most markets although not as many as there are single-family homes. It can be easier to get a great deal, although not as easy as houses.
Cons
Harder to manage and rent: 2 to 4-unit properties take more management and usually have more tenant turnover than single-family homes. Tenants tend to move more often, the rents are usually lower, and tenants rarely think of a multifamily as a permanent place to live.
More risk of major loss of income: If you have a few houses and one tenant decides to cook meth in the house it can destroy the house and cause major problems as well as lost rent for months. You still have the other houses to bring in income. If you have a multifamily property and that happens the whole property may need to be vacated for an extended period of time. If you have just one of each, then the risk is about the same.
More expenses: The tenant usually pays all of the utilities and performs the yard maintenance and snow removal on single-family homes. On multifamily homes, the landlord often pays for the maintenance and some of the utilities if not all of them. You may be able to charge higher rent since the landlord is paying those expenses but make sure you account for them.
More fluctuations in value: Multifamily properties are valued based on the income of the property and the expenses. If inters rates go up as they have been, they may be harder to sell or sell for less because investors have to pay less to get the same return. However, when rates go up, rents often increase as well so that could offset a decrease in value (rents would go up on houses as well).
Are large multifamily properties good for new investors?
A lot of new investors want to invest in large multifamily properties. Grant Cardone now tells people to only invest in properties with at least 32 units although he used to encourage house hacking with FHA loans. Large multifamily properties can make a lot of money but they can also be very difficult to buy due to their price and lending is much tougher.
Pros
Easy to scale: You can bring in a lot of rent with one property and add a lot of value with the right deal.
Rent to value ratios: The rent to value ratio may be better on big properties because only investors are buying them and they expect a certain return. The bigger the property the better the numbers may look because very few buyers are looking at those deals.
The maintenance costs can be lower: The costs versus the rent may be lower because you have large buildings under one roof that share the same systems.
Cons
Much harder to finance: The everyday person cannot get a loan for a large apartment building. One of the factors lenders consider is experience and they are wary of lending to new investors on big deals even if you have the down payment.
Less diversification: If there is a disaster at a large complex, you may have a huge problem with no rent coming in for months. Again, these are rare but can happen. You also may have chosen the wrong location and the property doesn’t perform as you thought (I did this with an 8-plex).
Harder to sell: There are few buyers for large complexes and they can take a long time to sell. Interest rates also impact them greatly.
The expenses come in huge chunks: While the overall maintenance costs may be lower based on the investment, they can be huge when they do come. You could spend hundreds of thousands of dollars on a roof. Having one roof is not always better. There could be more expenses as well like parking lot repaving, landscaping, common areas, etc.
They are expensive: It takes many people years to save up the money needed for a large complex. The purchase may be worth it, but while you are waiting why not buy smaller deals that build experience and a track record for lenders. The right deals will also bring you cash flow and equity which could make it easier to buy that big deal sooner.
More headaches: Large multifamily properties tend to have the most turnover, the most repairs needed, and the craziest situations. They take much more management and can have more headaches.
Are commercial properties good for beginner investors?
I bought my first commercial property in 2017 and it cash flowed much better than single-family or multifamily properties in my area and was cheaper. A lot of people see my commercial properties and want to invest in that sector right away. However, they come with more risk and are much more complicated.
Pros
Can be cheaper with better returns: In some areas, commercial properties are cheaper and have better returns but they also could be more expensive depending on the area. Small commercial properties are often cheaper than single-family homes.
Can add a lot of value: If you can add a tenant on a long term lease it can add a ton of value., I recently bought a commercial property for $865k that was vacant, then added 4 tenants. That property is now worth $1.5 million but it was not for the beginner.
Long term tenants: Many commercial tenants will stay for years and have leases that run for years. This is great of you have the right tenant but it takes longer to find those tenants. Many of the leases have built in rent increases as well.
Fewer expenses: Some commercial leases are NNN which means the tenants pay almost every expense. These can be fantastic for the landlord but not every commercial lease is set up this way.
Less headaches: Commercial tenants tend to be less needy than residential. They often take care of the property themselves and make sure it looks nice for their business. They expect the rent to increase each year and usually don’t get upset about it.
Owner occupied financing available: Yes you can owner occupy a commercial property. You do not live there, but you run a business out of the property. If you use more than 50% of the space you might be able to get an SBA government loan with 10% down.
Cons
Much more complicated: It takes time top to learn how the lease work, and the differences between NNN and gross. Properties are valued using cap rates which can be difficult to figure out because they vary based on the lease, the tenant, the property, the location, and more.
Harder to finance: Commercial properties are usually the hardest to finance. They come with risk if you lose a tenant and the lenders know this. They have shorter term loans that must be renewed every five or ten years. The lenders will want to see buyers with experience before they lend them money as well. Even the agents and sellers may not take a buyer serious if they don’t have any experience.
More expensive costs: If you have to make repairs it can cost a lot more money as rooftop HVAC, roofs, parking lots, and commercial construction often cost more than residential. The city may require more as well like fire sprinkler systems. Appraisals and inspections are more expensive as well.
Harder to sell: Just like multifamily properties, commercial properties can be much harder to sell because there is a smaller buyer pool.
Environmental issues: A big concern with commercial properties are past or current environmental issues. You may need to get an environmental report that shows there were no hazardous materials on the property or gas tanks, etc. To clean up problem properties it can takes tens of thousands of dollars or more.
Tenants might expect TI: TI stands for tenant finishes and many tenants expect the landlord to fix up the space for them. This can cost a lot of money but also add a lot of value.
If you are buying small commercial properties you may be able to avoid many of these issues but it is still good to be aware of them and especially talk to your lender about them! On some of my smaller commercial deals, I am able to get a local bank to finance them without an appraisal which is awesome.
Are mixed-use properties good for beginning investors?
Mixed-use properties can also be put in the commercial category. Mixed-use means the property can be used for residential and commercial or have both at the same time. I have a few mixed-use properties and love them but they can be tough to finance like commercial. The one benefit is you can live in part of it and work out of part of it. You may be able to get low down payment SBA loans because of this.
What is best for a beginning investor?
There are many different options for beginning investors to buy their first rental. I would be wary of jumping into huge projects without a lot of help from someone with experience. It will be almost impossible to do so unless you have a lot of cash. Personally, if single-family homes cash flow, I think those are the safest and best bet, but small multifamily can work as well.
If you want to dive into how to do all of this I have a book on residential rentals and commercial rentals as well!
One would think that short-term goals are pretty easy to accomplish. Oh, really?
Think again. Short-term goals can be easily put off for a plethora of reasons. Research suggests this as 91% of people fail on their New Years’ resolutions.
When it comes down to getting short-term goals done, including short-term financial goals, one must implement some strategies to stay on task and on schedule.
Let’s start out by discussing some strategies for achieving important short-term goals and then move onto some short-term financial goals that are worth your time and effort.
Grab your notepad, you’re going need it!
What’s the Difference Between Short-Term and Long-Term Goals?
Goals can have different timelines attached to them. For example, a short-term goal may take months or even years to achieve, whereas a long-term goal may take 5-10 years or more to reach. It’s important to be realistic about how much time you need and plan accordingly in order to make sure you can stay on track with your objectives.
Additionally, breaking down each goal into smaller steps can help make the goals feel more achievable. It may also be helpful to track your progress and celebrate successes along the way! More on that in a sec.,,
How to Achieve Important Short-Term Goals
A short-term goal is a goal that shouldn’t take you long to complete. Generally, I would define a short-term goal as a goal that takes roughly less than a year to complete. Many times, these goals only take a month or a few weeks. They could only take a day or two.
Short-term goals usually have a very clear path toward their completion. You know exactly how you’ll accomplish your goal – every step you’ll need to take. You can break the goal down into smaller pieces and then track your progress along the way.
It’s crucial that each of your short-term goals follow the “SMART” goal format.
What Are Smart Goals?
Setting goals can be daunting, but with the SMART framework, you can turn your aspirations into achievable objectives that will help you make meaningful progress towards your dreams! SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound.
Think of SMART as your goal-setting BFF! When you have a SMART goal in mind, you know exactly what you want to achieve, how you will measure your progress, and when you will achieve it. Whether you want to improve your finances, health, or personal growth, SMART goals can help you stay focused, motivated, and accountable.
SMART Goals
Stands For:
Specific
Clear and well-defined objectives
Measurable
Goals that have quantifiable targets
Achievable
Goals that are realistic and feasible
Relevant
Objectives that align with your values
Time-bound
Goals with specific deadlines
Unfortunately, even when you know exactly how you’ll accomplish your goal, there are a number of circumstances that can get in the way. Let’s explore how to push through these difficulties and find success.
1. Find your daily energy peak and schedule accordingly.
Unless you’re like The Rock and have seemingly unending energy and strength, your productivity will rise and fall during the course of a day. I know, you didn’t like me telling you that, but someone had to, right?
Short-term goals are best made progress on during the times of day you have high to moderate energy. If you’re saving these goals for the times of day when you’re in a slump, let’s face it: you’re probably not going to get ‘er done. Save the low energy times for leisurely activities.
Okay, so how do you find your daily energy peak? Here’s what I recommend . . . .
Set a recurring alarm when you first wake up for every 30 minutes. Every time the alarm goes off, rate your energy level on a scale of 0 (being no energy) to 10 (being high energy) in a notepad or on graph paper. You can do this for one day or you can do it for a week and average out the results.
This will allow you to see how your energy level changes throughout the day and will allow you to make better decisions regarding how you allocate your time and tasks.
I would recommend working on your short-term goals during the times of day that your energy level is a “5” or higher.
I remember when I first started this blog I was a night owl and had the most energy as the sun was going down. Today, I find mornings work better for me. The lesson? Make sure you adjust your tasks to your changing energy levels. Who knows, you might make a radical shift like me over time.
2. Work on one short-term goal at a time.
I have no idea why multitasking is so praised in our culture. Multitasking, in my opinion, slows people down and produces poor results. It’s much better to work on one short-term goal at a time.
Besides, these are short-term goals – not long-term ones. You’ll be able to get them done pretty quickly and move on to other tasks in short order.
Of your short-term financial goals, it might be worthwhile to work on the quickest short-term goals first – the ones that take the least amount of time. This will give you a few quick wins, which should motivate you to press on.
3. Eliminate distractions soldier!
During my time in the Army National Guard, I learned how to focus. In battle, there’s nothing worse than not keeping your head in the game. When enemies are nearby, it’s critical that you stay on task and don’t daydream. There are plenty of distractions in battle – some of which are set by the enemy – and they need to be avoided.
When you’re working on your short-term goals – including financial goals – you should eliminate any distractions.
When you’re working at home, there are plenty of distractions. If you have kids, you know what I mean. Now, kids are a great distraction, but you should be very careful to make sure they don’t pull you away from your other obligations.
For example, let’s say you have a monthly budget meeting with your spouse. Instead of having the meeting when the kids are running around throwing toys at you, it’s probably best to wait until they go to bed.
Other potential distractions include technology. Yes, while technology can help you accomplish your financial goals – like analyzing your investments with Betterment or Personal Capital – it can also send you alerts that aren’t relevant to the task at hand (like text notifications from your second great aunt Martha).
How do you eliminate technological distractions? Well, if you have Apple devices, it’s pretty easy to do so. On your iPhone, turn on Do Not Disturb. You can do the same thing on your Mac. This way, you can focus in peace and get some work done!
4. Dig deep to find your motivation.
Just like when you’re working on long-term goals, you need to dig deep to find your motivation for short-term goals.
Why do you want to start a budget, for example? If you don’t have a good enough reason or reasons, trust me, the number-crunching will get old fast and you’ll probably give up before you develop a working budget.
Imagine the benefits, for example, of creating a working budget. How will it improve your relationship with your spouse? How will it keep you on track with your long-term financial goals? You’d be surprised by how many motivations you can find for even the most seemingly mundane short-term financial goals.
Important Short-Term Financial Goals
Alright, you’re all geared up. You have some strategies for achieving your short-term financial goals, but which goals are worth your while? That’s what we’re going to talk about next, partner.
1. Create a budget.
Surprise! Just kidding. You probably guessed this one.
The truth is that a working budget is the cornerstone of any good financial plan. A proactive budget not only tells you what you’ve spent, but it tells you what you should and should not spend – that’s huge.
Over time, by working your budget, you’ll find ways to cut your expenses and discover new motivations for raising your income.
2. Create a system to pay your bills on time.
Thanks to technology, there are all kinds of ways to pay your bills. You might pay through your bank’s online bill-pay feature, you might pay through the merchants’ websites, you might pay using your debit or credit card, you might pay with checks – or you might pay with your smartphone!
Chances are, you’re using a variety of methods to pay your bills. But do you have a solid system in place? How will you know if your credit card expired and a merchant can’t pull money through auto-pay? Are you trusting the banks and merchants to let you know when your card is about to expire?
Sure, that might work. But perhaps it would be better to put everything into a spreadsheet so you can keep track of all of your bills and how they’re paid. You can also create reminders to pay in your favorite app!
3. Get appropriate insurance policies for your family.
Do you have life insurance? Disability insurance? Umbrella insurance? How about renters insurance? These policies are commonly overlooked.
Find the best insurance and make sure you’re covered.
Short-Term Goal Examples
If you’re looking for real life short-term goal examples, you’re in luck! I polled some fans on the Good Financial Cents Facebook page and here’s some of the best ones:
Joseph Hogue from PeerFinance101.com shares his goals:
Launch 4 short-format investing books as series in December
Publish three posts per week to each blog
Financial goals
Rebalance my portfolio allocation heading into my 40s. Still a year off (and I don’t generally try timing) but after almost 7 years of a bull market, will rebalance a year earlier and shift to new allocation
Buy and renovate another rental property (in Medellin, Colombia)
Life goals
Use social media more for personal connections and less for business (I realize the irony as I post this under my blog account)
reconnect with a couple of high school friends
start a hobby that isn’t related to personal finance or crowd-funding
Kate Dore from Cashville Skyline offers:
Reach $200K net worth by the end of 2025.
Renovate my basement to rent on Airbnb.
Earn $10K side income before next year’s FinCon.
Lose 20 pounds 🙂
Jacob Wade from iHeartBudgets.com shares his ambitious short-term goals:
Finish Kitchen Remodel by end of 2022
Pay Off Student Loans by end of 2022
Launch online course for blog in March/April 2023
MAX out Roth IRA for my wife and I in 2023
Remodel Master bath in 2023
Build deck/patio in backyard in spring 2023
Build raised bed gardens in side yard in April 2023
Get my butt into shape! Start in T-25 workout plan again
Those are some good examples of short-term goals. Here are some other examples you can use to kickstart your own short-term goal ideas:
Financial Goal
Specific
Measurable
Achievable
Relevant
Time-bound
Emergency fund
Save $10,000 in a high-yield savings account
Yes
Yes
Yes
By age 30
Retirement savings
Contribute at least 10% of your annual income to a 401(k) or IRA account, aim for $100,000 in retirement savings
Yes
Yes
Yes
By age 30
High-interest debt
Pay off $5,000 of credit card debt
Yes
Yes
Yes
By age 30
Credit score
Improve credit score to 750 or higher
Yes
Yes
Yes
By age 30
Budgeting
Create a monthly budget, track spending, and save $5,000
Yes
Yes
Yes
By age 30
Education and career
Invest in education or career development
Yes
Yes
Yes
By age 30
Investing
Invest $5,000 in stocks, mutual funds, or other investments
Yes
Yes
Yes
By age 30
Home down payment
Save $20,000 for a down payment on a home
Yes
Yes
Yes
By age 30
Estate plan
Create a will and estate plan
Yes
Yes
Yes
By age 30
Living below your means
Reduce expenses by 10%, increase savings rate by 5%
Yes
Yes
Yes
By age 30
How I Keep Track of Short-Term Goals
My short-term goals fall into two categories: Quarterly (90 day goals) and weekly goals. Each quarter I list out my goals and then make sure my weekly goals stay on point to achieving those goals.
One easy way I’ve recently implemented of staying on point is creating my weekly goals Sunday night. I’l create a note on my iPhone, but that’s only the half of it.
I then take a picture (screenshot) of my weekly goals and make that the lock screen on my phone. That way every time I turn my phone on I see the top 4-5 goals I need to accomplish that week. Here’s how it looks on my phone:
You’ll also notice I list my daily reminders of my Success Habits I do each day.
These include doing The Love Habits with my wife, writing in my Five Minute Journal, knocking out 50 push-ups, praying, and completing my Crush Your Day PDF (from my 10x Goals Accelerator course) before I go to bed.
I’ve taken achieving my short-term goals to the next level because of this powerful combination.
The Bottom Line – Short-Term Goal Examples
So, there you have it! Setting short-term goals is an excellent way to achieve your long-term vision, improve your skills, and build momentum towards success.
By following the SMART framework, you can turn your aspirations into actionable steps that will help you make meaningful progress towards your dreams. Remember, short-term goals don’t have to be boring!
Whether you’re learning a new skill, connecting with new people, or saving up for a fun adventure, short-term goals can be exciting and fulfilling.
So, what are you waiting for? Grab a pen and paper and start setting some short-term goals today!
FAQs – Short-Term Goals
Why are short-term goals important?
Short-term goals are essential for several reasons. They provide a clear direction and purpose, help you break down larger goals into smaller, manageable steps, build confidence and self-efficacy, and improve your overall productivity and performance.
How do short-term goals relate to long-term goals?
Short-term goals are an essential component of achieving long-term goals. They help you break down larger objectives into smaller, more manageable steps and build momentum towards achieving your long-term vision. By setting and achieving short-term goals, you can stay motivated and focused, improve your skills and habits, and make progress towards your ultimate goals.
How do you prioritize short-term goals?
Prioritizing short-term goals depends on your personal preferences, needs, and circumstances. Consider which goals are most urgent, important, or aligned with your long-term vision. Prioritizing goals helps you focus your time, energy, and resources on the most critical objectives and avoid getting overwhelmed or distracted.
How many short-term goals should you have at once?
The number of short-term goals you should have at once depends on your capacity and workload. It’s generally best to focus on a few goals at a time to avoid getting overwhelmed or losing focus. Prioritize your goals based on their urgency, importance, and relevance to your long-term vision.