Month: August 2024

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Tucson, Arizona, often referred to as “The Old Pueblo,” is a city steeped in history, culture, and natural beauty. With its stunning desert landscapes, vibrant arts scene, and warm weather year-round, it’s no wonder that many people are drawn to making Tucson their home. However, life in this Southwestern city comes with its own set of challenges. Whether you’re considering a charming apartment in the historic Barrio Viejo neighborhood or a modern apartment in bustling Downtown Tucson, you’ve come to the right place.

In this ApartmentGuide article, we’ll explore the various pros and cons of living in Tucson, helping you decide if this desert city is the right place for you.

Fast facts about living in Tucson

  • What Tucson is known for: Tucson is known for its stunning desert landscapes and as the gateway to Saguaro National Park
  • Fun fact: Tucson is a UNESCO City of Gastronomy, celebrated for its rich culinary heritage
  • Population: Over 540,000 residents in Tucson proper; over 1 million in the metro area
  • Average rent: $1,071 per month for a one-bedroom apartment
  • Median home sale price: $325,000
  • Days of sunshine: Approximately 286 days per year
  • Public parks: More than 120 parks within the city
  • Average summer high temperature: 100°F (38°C)
  • Major industries: Education, defense, healthcare, and tourism

1. Pro: Stunning desert landscapes and outdoor recreation

Tucson is surrounded by beautiful desert landscapes, offering residents plenty of opportunities for outdoor recreation. The city is nestled between five mountain ranges and is home to the iconic Saguaro National Park. Hiking, biking, and exploring the desert are popular activities, with trails like those at Sabino Canyon and Mount Lemmon offering breathtaking views.

2. Con: High summer temperatures

While Tucson enjoys mild winters, the summers can be scorching. With average high temperatures regularly exceeding 100°F (38°C), the intense heat can be challenging for those not accustomed to such extreme conditions. The dry desert air, while making the heat more bearable, still requires residents to take precautions against dehydration and heat-related illnesses.

3. Pro: Affordable cost of living in Tucson

Tucson offers a relatively affordable cost of living compared to other cities in Arizona and the broader Southwest region. Overall, the cost of living in Tucson is about 4% higher than the national average, but housing costs are 2% lower, with the median sale price for a home in Tucson around $325,000 and average rent for a one-bedroom apartment in Tucson at $1,071 per month. While utilities are 1% more, groceries are 5% higher, and transportation is 10% more expensive, healthcare costs are 10% lower, making Tucson an attractive option for those looking to stretch their dollar further in the Southwest, despite lifestyle costs being 8% above average.

4. Con: Limited job market diversity

Tucson’s job market is heavily concentrated in specific sectors such as education, defense, and healthcare. While these industries provide stable employment opportunities, the overall job market is less diverse compared to larger metropolitan areas. This can make it more challenging for job seekers in fields like finance, technology, or manufacturing to find suitable employment.

Top employers in Tucson

  • University of Arizona
  • Raytheon Missile Systems
  • Banner Health
  • Tucson Unified School District
  • Carondelet Health Network
  • Tucson Electric Power
  • Davis-Monthan Air Force Base
  • Pima County Government

5. Pro: Rich cultural heritage and vibrant arts scene

Tucson is known for its rich cultural heritage, with strong influences from Native American, Mexican, and Western traditions. The city hosts numerous festivals and events throughout the year, celebrating its diverse cultural roots. The downtown area is a hub for arts and culture, with galleries, theaters, and music venues offering a variety of performances and exhibitions. The Tucson Gem and Mineral Show, one of the largest of its kind in the world, is a major draw for visitors and residents alike.

6. Con: Traffic congestion and limited public transportation

While Tucson is not as large as some other cities, it still experiences traffic congestion, particularly during rush hours and on major roadways like I-10. Additionally, the city’s public transportation system, operated by Sun Tran, is not as extensive as those in larger cities. While there are bus routes that cover much of the city, they can be limited in scope and frequency. Tucson offers some walkability and is quite bike-friendly with various lanes and paths, but a car is still often necessary, especially in suburban areas.

Tucson’s transportation scores

  • Walk score: 43
  • Transit score: 35
  • Bike score: 66

7. Pro: Access to excellent healthcare

Tucson is home to several top-rated healthcare facilities, including Banner University Medical Center and the Tucson Medical Center. These institutions provide residents with access to high-quality healthcare services, from routine check-ups to specialized treatments. Additionally, the University of Arizona’s medical school contributes to a robust healthcare ecosystem in the city.

8. Con: Higher utility costs

Despite the lower cost of living in other areas, Tucson residents may find themselves paying more for utilities, particularly during the hot summer months. Air conditioning is a necessity in the desert climate, leading to higher electricity bills. Additionally, water usage can be a concern, as the region’s arid conditions require careful management of this resource.

9. Pro: Diverse dining and food scene

Tucson’s culinary scene is a reflection of its multicultural population. The city is famous for its Mexican cuisine, with many restaurants serving authentic Sonoran dishes. In 2015, Tucson became the first city in the U.S. to be designated a UNESCO City of Gastronomy, highlighting its unique and vibrant food culture. Whether you’re in the mood for street tacos, farm-to-table dining, or international cuisine, Tucson has something to offer every palate.

Popular restaurants in Tucson

  • El Charro Café
  • Café Poca Cosa
  • The Coronet
  • Boca Tacos y Tequila
  • The Parish

10. Con: Urban sprawl

Tucson has experienced significant growth in recent years, leading to urban sprawl in some areas. This spread-out development can result in longer commute times, increased traffic, and a reliance on cars for transportation. While the city is working on managing this growth, residents may find that living in more suburban neighborhoods means being further from the city’s core amenities and services.

11. Pro: Strong educational environment

Tucson is home to the University of Arizona, a major research institution that contributes significantly to the local economy and culture. The presence of the university provides residents with access to a wide range of educational resources, cultural events, and sporting activities. Additionally, Tucson Unified School District offers a variety of educational programs and services to meet the needs of students.

12. Con: Air quality concerns

Tucson, like many desert cities, can experience issues with air quality, particularly during the summer months. Dust storms, vehicle emissions, and industrial activities contribute to periods of poor air quality. Residents with respiratory conditions should be aware of these challenges and take necessary precautions.

13. Pro: Proximity to outdoor recreation

Tucson’s location in the Sonoran Desert provides easy access to a variety of outdoor recreational activities. The city is surrounded by mountains, national parks, and wilderness areas, offering ample opportunities for hiking, camping, rock climbing, and birdwatching. Saguaro National Park, located just outside the city, is a popular destination for those looking to explore the unique desert landscape.

Commute times to popular destinations

  • Saguaro National Park: 20 minutes by car
  • Mount Lemmon: 1 hour by car
  • Phoenix, AZ: 1.5 hours by car
  • Sedona, AZ: 3.5 hours by car
  • Grand Canyon National Park: 5 hours by car

14. Pro: Welcoming neighborhoods

Tucson is known for its welcoming and tight-knit neighborhoods. Areas like Sam Hughes, El Presidio, and the Catalina Foothills are particularly popular due to their sense of community, tree-lined streets, and proximity to amenities. These neighborhoods offer an inviting environment, making Tucson an attractive place to call home.

Pros & cons of living in Tucson, AZ (Summary)

  • Pro: Stunning desert landscapes and outdoor recreation
  • Con: High summer temperatures
  • Pro: Affordable cost of living in Tucson
  • Con: Limited job market diversity
  • Pro: Rich cultural heritage and vibrant arts scene
  • Con: Traffic congestion and limited public transportation
  • Pro: Access to excellent healthcare
  • Con: Higher utility costs
  • Pro: Diverse dining and food scene
  • Con: Urban sprawl
  • Pro: Strong educational environment
  • Con: Air quality concerns
  • Pro: Proximity to outdoor recreation
  • Pro: Welcoming neighborhoods

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If you’re looking to save money on your next mortgage, a mortgage broker might be able to help.

A firm by the name of Polygon Research conducted a study and found that mortgage brokers can save consumers money versus other channels, such as retail.

The research, which was supported by the nation’s top mortgage lender (also a wholesale-only lender) United Wholesale Mortgage, found “substantial savings for consumers on average” via the wholesale channel.

For reference, the wholesale channel is B2B, where mortgage brokers provide financing to consumers from their lender partners.

Instead of being captive to a single bank or lender, they can shop the borrower’s loan scenario with multiple partners at once to find the best combination of rate and fees.

On the other hand, a retail loan officer can only offer pricing and loan programs from their captive lender.

Lower Rates and Lower Fees with Mortgage Brokers

The research found that for loans originated in 2023, consumers would save an average of $10,662 over the life of their loan when working with an independent mortgage broker compared to a nonbank retail lender.

Some of the largest nonbank retail lenders include Rocket Mortgage, CrossCountry Mortgage, loanDepot, Rate (formerly Guaranteed Rate), and Movement Mortgage.

Polygon also said upfront fees were lower on broker-originated loans compared to those originated by retail loan officers.

And the study found higher loan approval rates in Minority Majority Census Tracts (MMCT) via the wholesale channel (70%) versus retail (58%).

The average interest rate extended to home purchase consumers via the wholesale channel was 6.58% with 115 basis points paid upfront.

Conversely, the average interest rate received in the nonbank retail channel during that period was 6.60% with an upfront cost of 148 bps.

While the rates are fairly comparable, the borrowers via the wholesale (mortgage broker channel) paid less.

For example, on a $500,000 loan amount, the costs mentioned would be $5,750 versus $7,400, respectively.

The savings were even larger for VA loans, those reserved only for veterans and their families.

VA borrowers save an average of $13,432 per loan when they use a mortgage broker instead of going with a retail lender.

They obtained an average rate of 6.26% versus a rate of 6.40%, with a cost of 87 bps compared to 106 bps via the retail channel.

Of course, these savings can and will vary, and it depends who you speak with.

This is why I recommend that borrowers compare mortgage brokers too. Speaking to just one won’t give you the complete picture, even though they do shop on your behalf.

In a perfect world, you might speak to multiple retail loan officers and multiple mortgage brokers to truly comparison shop.

Mortgage Broker Share Has Grown a Lot and Could Keep Getting Bigger

While mortgage brokers got a lot of flak during the early 2000s for originating loans that performed worse than their counterparts, even getting blamed for the mortgage crisis, they’ve since seen quite a renaissance.

Back in March, UWM noted that the mortgage broker share hit a staggering 24.3% in the fourth quarter of 2023, the highest share since 2009.

A lot of that growth could be attributed to UWM and its CEO Mat Ishbia, which became the first wholesale lender to take the #1 spot overall in the mortgage world.

And he has ambitions to increase it even further, noting that it wouldn’t be “unrealistic for the channel to hit 50% market share.”

While that remains to be seen, there are other big players in the space that could drive it higher, including their cross-town rival Rocket Mortgage, which operates Rocket Pro TPO, their growing wholesale division.

As noted, UWM is the nation’s top mortgage lender based on loan volume. The Pontiac, Michigan-based company funded roughly $109B in 2023, per HMDA data.

That was plenty to outrank their closest rival, Rocket, which mustered just $76B.

Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 18 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on Twitter for hot takes.
Latest posts by Colin Robertson (see all)

Source: thetruthaboutmortgage.com

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Hyatt announced it will acquire The Standard hotels — a collection of 10 boutique hotels with locations including the Maldives, New York and London — to its portfolio of lifestyle brands by the end of 2024. That’s exciting news for World of Hyatt loyalty program members looking for luxurious experiences in high-demand destinations.

The addition of Standard hotels is part of a giant expansion for World of Hyatt. In the same announcement, the brand announced it is acquiring Bunkhouse hotels, a collection of boutique hotels in the U.S. and Mexico. Since 2017, Hyatt increased its number of rooms at lifestyle hotels fivefold and became the world’s largest operator of luxury all-inclusive resorts based on room count.

Standard hotels you’ll soon be able to book with Hyatt points

The Standard, High Line in New York City. (Photo courtesy of Hyatt)

Standard hotels are known for their focus on design, atmosphere and prime locations near cultural and nightlife hotspots, like the Meatpacking District in New York or King’s Cross, London. Many of the hotels are housed in historic or architecturally significant buildings, lending each location its own unique feel.

The Standard features properties in:

  • Miami Beach.

  • Ibiza, Spain.

  • The Maldives.

  • Singapore.

  • Bangkok, Thailand.

  • Hua Hin, Thailand.

  • Melbourne, Australia.

Five locations are slated to open by the end of 2025 in:

  • Brussels, Belgium. 

  • Dublin, Ireland.

  • Lisbon, Portugal.

  • Singapore.

  • Melbourne, Australia. 

Standard hotels host art exhibitions, book clubs, music performances and other events — sometimes with celebrities, influencers and other high-profile individuals. For example, you can head to The Standard, East Village for mahjong game nights or a summer celebration with Madonna at Le Bain, which is The Standard, High Line’s rooftop bar.

The international locations have just as much going on. When you stay at The Standard, Bangkok, for example, you can have afternoon tea and cocktails, a workout at the 24-hour gym and a dip in the pool, then head up to Sky Beach, the highest cocktail bar in Thailand to take in the views.

The Standard, Bangkok. Photo courtesy of Hyatt.

Ready to visit? The number of Hyatt points required for an award night will ultimately depend on which categories the hotels fall into, but prices are still relatively low compared to other hotel award programs. That’s probably because, even with all the recent expansion, Hyatt is still a relatively small chain compared with behemoths like Marriott, Hilton, IHG and Wyndham.

How to earn Hyatt points

There are several effective ways to earn Hyatt points for future Standard and Bunkhouse award nights, including:

Top photo courtesy of Hyatt.

How to maximize your rewards

Source: nerdwallet.com

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Lowcountry author Pat Conroy may have spent most of his life living in South Carolina, but he was always drawn back to his birthplace.

Born in Atlanta, Georgia, the author would return to his hometown throughout his life. In fact, he lived here for a time in the ’80s, in a charming two-level home set in the historic Atlanta neighborhood of Ansley Park.

Now, the author’s house — where he reportedly penned his most successful novel, The Prince of Tides — is on the market, with die-hard fans now having the option to buy it for $2,250,000. Marc Castillo and Debbie Sonenshine with Coldwell Banker Realty hold the listing.

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The beloved “Pat Conroy house” in Atlanta

Photo credit: B Media / Coldwell Banker Realty

Paying tribute to its successful former owner, the house at 34 Peachtree Circle in Atlanta proudly boasts a circular plaque in front that tells visitors they’ve reached the “Pat Conroy House”.

The best-selling author, best known for his acclaimed novels and memoirs including The Water is Wide, The Lords of Discipline, The Prince of Tides, and The Great Santini, reportedly owned the house in the early ’80s, from 1983 to 1986.

Conroy did most of the writing in the carriage house

Photo credit: B Media / Coldwell Banker Realty

During his brief time here, the novelist worked on one of his most successful books, The Prince of Tides, an epic family drama centered around a fictional former football player’s relationship with his immediate family. The main character, Tom Wingo, was largely autobiographical for Conroy, and was later played by actor Nick Nolte in the 1991 movie adaptation (which was nominated for seven Academy Awards, including Best Picture).

Conroy did most of his writing in the home’s carriage house — set above the two-car garage. And lucky he did, as the carriage house is the only part of the property that survived a fire that engulfed the main residence.

Completely rebuilt in the early 2000s

Photo credit: B Media / Coldwell Banker Realty

The original house on the property was built in the 1920s, but was destroyed in a fire and had to be completely rebuilt. Only the carriage house was spared.

Built in 2003, the house that took its place honors the historic nature of the neighborhood and combines period details with a modern open floor plan spanning four levels.

Specs of the Ansley Park house

Photo credit: B Media / Coldwell Banker Realty

The charming home has 5 bedrooms, 5 full bathrooms and 1 half bath, a formal living and dining room, a beautifully appointed kitchen, and an inviting front porch with a bench swing that overlooks Winn Park.

The third floor offers a finished flex space that accommodates any number of uses, while the finished terrace level offers the perfect rec room or overflow space boasting a kitchenette and a full bath.

The house has a modern chef’s kitchen

Photo credit: B Media / Coldwell Banker Realty

The well-designed chef’s kitchen has white granite counters, stainless appliances, and thoughtfully placed leaded glass window inserts underneath the wall cabinets.

It also has a large kitchen island with seating for 4 that opens up to the breakfast area and a fireside family room with French doors overlooking the gated courtyard and bubbling fountain.

Elegant formal living spaces

Photo credit: B Media / Coldwell Banker Realty

From the large formal entry — with built-in cabinets, detailed wainscoting, and a large leaded glass window — to the formal living room with a gas fireplace (one of the three in the home) or the adjacent formal dining room, there’s no shortage of elegant spaces to entertain guests.

An impressive primary bedroom

Photo credit: B Media / Coldwell Banker Realty

Upstairs, a primary suite showcases his and her closets and a spa bath with a jacuzzi tub and walk-in shower.

See also: Move next to Steve Harvey in this $5.75M home set on one of Atlanta’s most desirable streets

The two-car garage has a full carriage house above it

Photo credit: B Media / Coldwell Banker Realty

Through the garden is the two-car garage with a second laundry and a full carriage house above — which has its own small kitchen, full bath, and a private sundeck.

Set in a lovely historic neighborhood

Photo credit: B Media / Coldwell Banker Realty

Beyond the home’s connection to the celebrated author, there’s plenty to love about this $2.25 million Atlanta home, with its location being a key attribute. The house is located in the historic Ansley Park neighborhood, developed in the early 1900s as the first Atlanta suburban neighborhood.

The house is just a few steps away from all the new restaurants and shops at Colony Square.

More stories

This is the house where Frank Herbert wrote ‘Dune’

Stephen King’s house is the beating heart of Bangor, Maine

‘The Martian’ author Andy Weir lists ‘Home Alone’ lookalike house

Source: fancypantshomes.com

Apache is functioning normally

In August 1979, Warren Buffett wrote an article for Forbes attacking the herd instinct of investors. The late 1970s were tough for the American economy, and the stock market reacted harshly.

Buffett wrote,

“…the future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually, is the friend of the buyer of long-term values.”

Warren Buffett

The future is never clear. Let Buffett’s wisdom sink in. Uncertainty surrounds us, like fog on the highway. Risk is omnipresent. Say it with me: risk is omnipresent. 

Only our perceptions and feelings change, sure. But feelings do not create or change reality.

Some periods feel optimistic and “cheery” – What risk?! Stocks can’t possibly go down! This is nirvana! Many younger investors have felt this in the past 15 years.

Other periods feel woefully pessimistic. “This is the death of equities,” wrote Business Week in the summer of 1979. If you’ve lived through bear markets or all-out crashes, you might know this type of pessimism.

Both of those perceptions are overly emotional. The optimist underestimates risk, and the pessimist overestimates risk.

We need to be prudent realists.

On the Road Again…

Every time you get in a car, the threat of getting in an accident is real.

According to Esurance, your odds of getting in a car accident are 1-in-366 for every 1000 miles driven. That equates to ~1-in-4 odds for every 100,000 miles driven. Accidents are out there!

Perhaps you’ve never had an accident before. Nevertheless, your future risk of an accident is still very real. I’d bet this person, with their perfect driving record, underestimates how real their future risk actually is. 

Or perhaps you’ve gotten in multiple accidents – more than your fair share. I’d wager that person is hyper-aware to their future accident risk. In fact, they’ll likely overestimate their future risk. 

Our perceptions of future risk are often shaped by our past experiences. We are pattern-seekers. But many events in this world are entirely decoupled from the past. Other types of events happen too infrequently for patterns to be evident. We get lulled into a false sense of reality. The stock market certainly acts this way.

The perfectly rational driver does the best they can (e.g., drives safely and defensively) yet still understands that future accidents might be waiting for them, regardless of their past driving record.

Back to the Market

Is a market crash coming soon? I don’t know, and neither do you.

Our past 15 years of relative stock market bliss do not necessitate a pending crash. None of this is predetermined. 

But I do think the past 15 years have lulled many stock investors into a false sense of security. Many investors are thinking the same way as the accident-free driver. “I’ve never got in an accident. It must be a minuscule risk. Perhaps even zero risk!” 

This is dangerous. Just as a driver should always maintain a defensive approach, so should the investor. And going back to Buffett’s inspirational quote:

“…the future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty, actually, is the friend of the buyer of long-term values.”

When our fellow investors get too confident, when they ignore the omnipresent risks, they (incorrectly) believe that further stock ownership is a zero-downside panacea. It’s 10% per year, guaranteed, forever!**

**It’s not.

Their demand for more stock ownership drives prices upward and, ultimately, reduces future expected returns. We all pay a price for a cheery consensus.

While a hard pill to swallow, stock buyers would rather have some tumult. We don’t mind buying at slightly lower prices. Uncertainly, as Buffett wrote, is our friend.

During and After a Crash

My final point, which I hope you’ll agree with…

We should be just as respectful of the omnipresent risks today as we would be during the middle of a stock market correction or even at the bottom of a market crash.

The risk of stock ownership is the same at all points! It doesn’t change. Only our feelings (“making money rocks!” vs. “losing money stinks!”) are changing. The risk itself is not changing.

If you can internalize that investing truth, you’ll become “the invulnerable investor.” Emotions won’t sway you.

That is the “little secret” of all great investors.

Thank you for reading! If you enjoyed this article, join 8500+ subscribers who read my 2-minute weekly email, where I send you links to the smartest financial content I find online every week. You can read past newsletters before signing up.

-Jesse

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Source: bestinterest.blog

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When you purchase a home, you must pay closing costs, which are the fees the lender charges to recoup loan processing costs. These can add up to a hefty sum, typically 3% to 6% of your mortgage amount.

Typically, you can take out a personal loan to cover those closing costs and help you across the finish line of a property purchase. You can often tap other funding sources as well. Take a closer look at the pros and cons of using a personal loan for closing costs, plus the alternatives, so you can decide what’s best for your needs.

What Are Closing Costs?

Closing costs are processing fees that you pay to your lender, either as the buyer or seller in a real estate transaction:

•   Buyers: Buyers typically pay between 3% and 6% of the total loan amount in closing costs. Buyers must pay this amount out of pocket, so it’s important for them to have a plan for how they’ll access the money before they get to the closing table.

•   Sellers: If sellers contribute to closing costs (say, to negotiate a home sale), those fees usually get taken out from the sale proceeds.

Here’s an example: If you plan to buy a home with a $300,000 loan, as the buyer, you’ll need to bring between $9,000 and $18,000 to the closing table. If you were the seller, you’d see that amount taken out of the costs you’d pocket from the sale.

Fees Associated with Closing Costs

Closing cost fees may include:

•   Application fee: Lenders sometimes charge a one-time fee for borrowers to submit a loan application.

•   Credit report fee: A credit report or credit check fee covers the cost to dig into your credit report, which shows your credit history. Your lender uses the information it uncovers to decide whether to approve your loan and how much they’ll lend you.

•   Origination fee: You pay this fee to the lender to process the loan application.

•   Appraisal fee: A fee paid to a professional to appraise the home based on an evaluation to determine its fair market value.

•   Title search: A title search looks into public records to determine who actually owns the property and who has liens on the property (for example, an unpaid contractor’s lien for work done on the home).

•   Title insurance: Title insurance protects you from financial loss and legal expenses in case the home has a bad title.

•   Underwriting fee: Underwriting is the process of reviewing your finances to determine the risk of offering you a mortgage, and the fees cover this process.

•   Property survey fee: Property survey fees cover the cost of checking the boundaries and easements of a property. This process shows exactly where the property’s perimeter is and what the property includes.

•   Attorney fee: You will probably need to hire a lawyer to review the terms in your purchase contract and handle your closing.

•   Discount points: Discount points are a way to balance your upfront costs and your monthly payment. If you use points to pay more upfront, you’ll likely have a lower interest rate, meaning that you could pay less monthly and over your loan term.

•   Homeowners insurance premiums: Homeowners insurance provides financial protection if your home undergoes a disaster or accident. You must typically show your lender that you have paid homeowners insurance.

•   Mortgage insurance: If you have a down payment of less than 20%, you will often have to pay mortgage insurance, a fee per month that protects your lender if you were to default. You’ll also have to pay a version of mortgage insurance on Federal Housing Administration (FHA) and U.S. Department of Agriculture (USDA) loans. You may have to pay these insurance fees with your closing costs in addition to your monthly payments, particularly for the FHA and USDA loans.

•   Property tax: Homeowners pay property tax to state, county, and local authorities for schools, roads, and other municipal services. You may have to pay a portion of your property tax at closing.

•   Homeowners association (HOA) fees: If you plan to move to a neighborhood that has an HOA, or an organization that makes and enforces rules for a neighborhood, you may owe HOA fees at closing. The seller may pay these on a prorated basis.

•   Per-diem interest: Per-diem interest refers to the interest a lender charges for the days between a closing date and the first day of your billing period.

•   Transfer tax: State or local governments often charge real estate transfer taxes, meaning that they charge when properties transfer ownership.

•   Recording fee: State and local governments charge recording fees to legally record your deed, mortgage, and other home loan documents.

Note that this isn’t an exhaustive list of closing costs — you may be on the hook for other fees as well.

Can You Use a Personal Loan for Closing Costs?

First, it’s important to understand how a personal loan works. It is usually funded by a bank, credit union, or online lender. You can typically use the money however you want — there aren’t as many restrictions on personal loans compared to, say, student loans. After you receive a personal loan, you pay it back with regular, fixed payments (with interest) over a specified term.

As mentioned above, you can use the cash as you see fit. So, yes, you can use a personal loan for closing costs. However, you can’t use it for a down payment, and you must tell your lender that you’ll go this route and borrow to pay the closing costs. The lender will include it in your debt-to-income (DTI) ratio, which is the amount of debt you have relative to your income.

Applying for a personal loan can involve prequalifying with several lenders and comparing them, gathering required documents (ID, proof of address and income, Social Security number, and education history), filling out the loan application, and receiving your funds after approval. You may be able to get a personal loan in one to three days.

As you shop around for funds, you’ll likely want to consider what credit score you need for a personal loan at a given interest rate. Also consider the length of the loan term; this can typically range from one to seven years.

Recommended: Guide to Personal Loans

Pros of Taking Out a Personal Loan for Closing Costs

Here are some of the key benefits of taking out a personal loan for closing costs.

•   Collateral not required: Personal loans are often unsecured loans, meaning that you don’t have to put an asset up in order to receive the loan. Therefore, if you fail to repay the loan, your lender will not claim the asset to repay your debts.

•   Quick approval: It usually doesn’t take long to get a personal loan once you’ve been approved. After you submit your application and materials, it might take just a day to get the personal loan, though it could take longer.

•   Flexible repayment options: You can tap into flexible repayment plans, including no prepayment penalty, meaning that the lender won’t penalize you for paying off the loan early.

Cons of Taking Out a Personal Loan for Closing Costs

Next, consider the downsides of using a personal loan to cover closing costs.

•   DTI increase: Lenders will look at your overall debt under a microscope, so taking on a personal loan may factor into your overall debt. It may signal to the lender that you aren’t in a good financial position since an additional loan could raise your DTI ratio. It might keep you from being approved for a mortgage or could result in a higher mortgage interest rate.

•   Additional loan payment: You might find it tricky to repay a personal loan in addition to a mortgage payment. Consider whether you can comfortably make both payments every month.

•   High interest rates: There is the potential for high interest rates if you have poor credit. This can make it more challenging to afford a personal loan.

Recommended: Personal Loan Requirements

Alternatives to a Personal Loan for Closing Costs

You may have options vs. getting a personal loan for closing costs. Consider how else you might handle those fees.

•   Roll them into your mortgage: You may be able to add your closing costs to your mortgage, but this means you’ll increase the principal balance of your loan. This will increase both the principal and the interest you’ll pay over your loan term and also translates to higher monthly payments.

•   Ask for a waiver: Your lender may be willing to waive certain fees. For example, they may reduce certain processing fees. There’s no guarantee, but it can be worth asking. That might help you out with your final closing cost amount.

•   Ask the seller to pay: As mentioned previously, sellers may pay for some of the closing costs if they’re eager to ensure that the property sale doesn’t fall through.

•   Tap into assistance programs: Many state and local governments offer down payment and closing cost assistance programs for moderate- to low-income home buyers. Look into your state’s housing finance agency, your city or county website, the U.S. Department of Housing and Urban Development (HUD), or check with your lender to learn more about your options.

•   Use gift money: Do you have a generous grandparent or parent who wants to help you cover your closing costs? Your state may have rules and regulations attached with gift money (especially ensuring that it’s an actual gift). Check with your lender to learn more.

The Takeaway

You can typically use a personal loan to pay for closing costs, the fees that can cost 3% to 6% of your home loan amount when you purchase a property. While this can be a convenient source of funding that is typically unsecured (meaning no collateral is required), it can raise your DTI and add to your monthly financial burden. It’s wise to carefully consider all the pros and cons, as well as alternative funding sources, when deciding whether to use a personal loan for closing costs.

Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.

SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.

FAQ

Is it smart to finance closing costs?

Whether it’s smart to finance closing costs depends on your personal situation. For example, for some people who can handle the additional monthly payment, it may be a convenient move. On the other hand, getting a personal loan may increase your DTI, so your mortgage lender might charge you a higher interest rate or deny you the loan altogether.

Can I put closing costs on a credit card?

While you’ll usually use a cashier’s check, certified check, or wire transfer to pay for closing costs, you can put some closing costs on a credit card, such as attorney, appraisal, and survey fees. Check with your lender to learn more about which fees you can put on a credit card. (Also note that using your credit card in this way can raise your credit utilization rate and potentially lower your credit score.)

What is not an acceptable source of funds for closing?

Closing costs are typically paid by a cashier’s or certified check or by wire transfer. Funds for these could be acquired by such sources as a government program or a personal loan. Less frequently, credit cards, debit cards, and personal checks may be accepted for some closing costs.

Photo credit: iStock/jacoblund

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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Source: sofi.com

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Moving to Georgia offers a life of Southern charm, city life, and picturesque landscapes, from the bustling streets of Atlanta to the serene beauty of the Blue Ridge Mountains. With a rich history, diverse culture, and warm climate, Georgia provides a welcoming environment for newcomers. Whether you’re browsing homes for sale in Savannah, considering renting in Athens, or exploring houses for rent in Augusta, here’s what you need to know before moving to Georgia.

Georgia at a glance

Georgia is a state of contrasts, where the fast-paced energy of urban centers like Atlanta meets the laid-back charm of small towns and rural landscapes. The state enjoys a moderate climate, with hot, humid summers and mild winters, making it an appealing destination for those who appreciate year-round outdoor activities. Georgia’s economy is diverse, driven by industries such as agriculture, manufacturing, film production, and technology, providing a wealth of job opportunities. 

Georgia is also rich in cultural and recreational opportunities. The state boasts a vibrant music scene, world-class museums, and a growing food culture that reflects its Southern heritage. For nature enthusiasts, Georgia offers everything from coastal beaches to mountain trails, including the famous Appalachian Trail. Education is another strong point, with a mix of well-regarded public and private schools, as well as prestigious universities like Emory and the University of Georgia. Whether you’re drawn to the excitement of city life or the affordability of the countryside, Georgia has something to offer everyone.

1. Prepare for Georgia’s heat and humidity

Summers in Georgia are not just hot—they’re sweltering, with temperatures regularly climbing into the 90s°F and sometimes higher. The humidity levels can make it feel even hotter, often leading to sticky, uncomfortable days that linger well into the evening. Air conditioning is a must-have, whether you’re at home, in your car, or at work, and outdoor activities are best enjoyed in the early morning or late evening to avoid the peak heat. 

Insider tip: If you’re new to the state, it may take some time to adjust to the heavy, moist air, so staying hydrated and wearing lightweight clothing are essential.

2. Southern hospitality is part of everyday life

Georgia is known for its Southern hospitality, where friendliness and politeness are ingrained in the culture. You’ll find that people often go out of their way to help others, whether it’s holding doors open, offering a warm greeting, or assisting with directions. Neighbors tend to be close-knit, and community gatherings are common. This welcoming atmosphere can make the transition to life in Georgia smoother, especially if you’re moving from a place with a more reserved social culture.

3. Sports is a big deal here

Sports are a central part of life in Georgia, with a particularly strong passion for college football, especially the Georgia Bulldogs. Game days are major events, where fans don their team’s colors and gather for tailgating and watch parties, creating an electric atmosphere throughout the state. Beyond college football, professional teams like the Atlanta Braves (MLB), Atlanta Falcons (NFL), and Atlanta Hawks (NBA) have dedicated followings. Whether you’re a die-hard sports fan or just enjoy the occasional game, you’ll quickly find yourself swept up in the excitement that permeates Georgia’s sports culture.

Insider scoop: If you’re in Athens on a game day, take a stroll through the tailgating lots before the game; you’ll find people grilling, playing games, and socializing. Feel free to join in the fun, as many tailgaters are welcoming and happy to share their food and enthusiasm with new faces as long as you’re not rooting for the rivals.

4. The traffic in Atlanta is heavy

If you’re planning to live in or near Atlanta, be prepared for some of the worst traffic congestion in the country. Atlanta’s sprawling layout and reliance on cars mean that rush hours—morning and evening—can turn a short commute into a lengthy ordeal. The city’s highways, particularly the I-285 Perimeter and I-75/I-85 Connector, are notorious for bottlenecks and slow-moving traffic. Many residents adjust their schedules to avoid peak traffic times or use public transportation options like MARTA to navigate the city more efficiently.

5. The geography is diverse in Georgia

Georgia’s landscape is incredibly varied, offering everything from the rugged mountains of the north to the sandy beaches of the coast. In the north, the Appalachian Mountains provide opportunities for hiking, camping, and enjoying scenic vistas, particularly in the Chattahoochee National Forest. The central part of the state features rolling hills and fertile farmland, while the coastal region is home to the barrier islands. You’ll also find historic cities like Savannah, one of the best places to live in Georgia. This diversity allows residents to explore different environments without leaving the state, making Georgia a great place to live.

Travel tip: For a unique experience, consider visiting the less-known Georgia towns such as Blue Ridge and Dahlonega in the north, where you can enjoy charming local shops and restaurants along with stunning mountain views.

6. Georgia is known for its high pollen count

Spring in Georgia brings a wave of colorful blooms—and with it, a significant increase in pollen. The state consistently ranks among the highest in the nation for pollen counts, which can be a challenge for those with allergies. During peak pollen season, typically in late March and April, cars, streets, and homes are often coated in a yellow-green layer of pollen. Allergy sufferers may need to take precautions, such as keeping windows closed, using air purifiers, and stocking up on allergy medications, to manage symptoms during this time.

7. The state produces a lot of delicious produce

Georgia is famous for its peaches, but the state’s agricultural bounty extends far beyond this iconic fruit. Pecans, peanuts, and Vidalia onions are also major crops, and you can find fresh, locally-grown produce at farmers’ markets across the state. The Vidalia onion, known for its sweet flavor, is so beloved that it has its own festival each spring. Whether you’re shopping for ingredients or enjoying a meal at a local restaurant, Georgia’s farm-to-table culture ensures that fresh, flavorful produce is always in season.

8. Georgia has strong educational institutions

Georgia is home to several top-tier educational institutions that draw students from across the country and around the world. The University of Georgia, located in Athens, is one of the oldest public universities in the United States and has a strong academic reputation alongside a lively campus life. Georgia Tech in Atlanta is a leading research university, particularly known for its engineering and technology programs. Emory University, also in Atlanta, is another prestigious institution, recognized for its medical school and healthcare programs. If you’re moving to Georgia, you will find a variety of educational options, from public and private schools to these esteemed universities.

9. The cost of living varies throughout the state

The cost of living in Georgia varies widely depending on the region, with significant differences between urban and rural areas. In Atlanta, the median home sale price is around $429,000, reflecting the city’s status as a major metropolitan hub with a higher cost of living. Rental rates in Atlanta average about $2,344 per month for a two-bedroom apartment. Conversely, in more affordable cities like Augusta, the median home price is around $200,000, and rental rates average $1,176 per month. Smaller towns such as Macon offer even lower costs, with median home prices around $180,000 and average rents at approximately $1,100-1,341.

If you’re considering moving to Georgia, you’ll want to weigh the pros and cons to know what to expect when living there.

10. Southern comfort food is a staple here

Georgia’s culinary scene is deeply rooted in Southern tradition, with comfort food playing a central role. You’ll find classics like fried chicken, collard greens, macaroni and cheese, and cornbread on menus across the state. Barbecue is another beloved staple, with regional variations in sauce and preparation that reflect the state’s diverse cultural influences. Additionally, Georgia is known for its pecan pie and peach cobbler, which showcase the state’s agricultural richness. 

Insider scoop: For a true taste of Southern hospitality and local flavor, visit one of Georgia’s famous BBQ joints like Fresh Air Barbecue in Jackson. 

11. Georgia is a major hub for the film industry

Over the past decade, Georgia has become a prominent player in the film and television industry, earning the nickname “Hollywood of the South.” With generous tax incentives for filmmakers, the state has attracted numerous productions, including blockbuster movies and popular TV shows like “The Walking Dead” and “Stranger Things.” The impact of the industry is visible in cities like Atlanta and Savannah, where you might encounter film crews on location. For those living in Georgia, this means potential opportunities in film-related jobs, and the excitement of seeing familiar locations on the big screen.

12. Mostly everyone drinks sweet tea

In Georgia, sweet tea isn’t just a beverage—it’s a cultural institution. Served cold and sweetened to perfection, it’s the default drink at most restaurants and gatherings. If you prefer unsweetened tea, you’ll need to specify when ordering, as sweet tea is the norm. Beyond sweet tea, iced tea is also incredibly popular, especially during the hot summer months when a refreshing drink is a must. 

13. The weather can change rapidly in the spring

Springtime in Georgia is marked by unpredictable weather, with rapid shifts that can catch you off guard. One moment it might be sunny and warm, and the next, a thunderstorm rolls in with heavy rain and strong winds. Tornadoes are also a risk during this season, particularly in the northern and central parts of the state. It’s important to stay informed by monitoring weather forecasts and having a plan in place for severe weather. 

Methodology

Population data sourced from the United States Census Bureau, while median home sale prices, average monthly rent, and data on affordable and largest cities are sourced from Redfin.

Source: rent.com

Apache is functioning normally

Looking for ways to make money on a consistent monthly basis? Monthly service business ideas might be just what you need. A monthly service-based business is where you sell a service to clients every month, instead of selling products. For example, you might sell cleaning, bookkeeping, or meal prep services that people need regularly. The…

Looking for ways to make money on a consistent monthly basis? Monthly service business ideas might be just what you need.

A monthly service-based business is where you sell a service to clients every month, instead of selling products. For example, you might sell cleaning, bookkeeping, or meal prep services that people need regularly.

The goal is to create a steady income by getting clients who pay you every month for your service. This business model is helpful because it lets you predict your income, build long-term client relationships, and grow your business as you add more regular customers.

The best part? Many of these ideas can be started with a low amount of money and have great potential for a full-time regular monthly income or extra money.

Best Monthly Service Business Ideas To Start

Below are the best monthly service business ideas to start.

1. Virtual bookkeeping

Online bookkeeping is a great way to earn a consistent income each month. Many small businesses need help managing their finances but may not need a full-time bookkeeper.

This is where you come in. By selling your services online, you can help businesses keep track of their books from anywhere.

You can provide monthly services such as tracking income and expenses, reconciling bank statements, and preparing financial reports. This work can all be done remotely, so you can work from the comfort of your own home.

I have a few friends who sell monthly bookkeeping services to small businesses, and they all really like what they do. Plus, you don’t need a college degree to get started – this is something you can learn.

You can learn more at Online Bookkeeping Jobs: Learn How To Get Started Today.

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This free training will show you how to start a profitable bookkeeping side-hustle in the next 30 days—even if you have no prior experience!

2. Pet grooming

If you love pets, starting a pet grooming business can be a great monthly service idea. Many pet owners need regular grooming for their animals, making it a steady source of income.

You can sell services like bathing, haircuts, nail trimming, and more.

Mobile pet grooming is also an option. This involves driving to clients’ homes to groom their pets, and many people love this because it is convenient for pet owners.

I have seen many mobile pet grooming businesses at people’s homes over the years and it looks like a really helpful service to get started!

Starting this business can cost around $10,000 to $15,000 for a van and equipment (at the minimum, usually). You may be able to make a profit of $40,000 to $60,000 per year.

3. House cleaning

Starting a house cleaning business can be profitable, and many people need this done on a regular basis, so you may have the same client for years.

Many people don’t have the time or energy to clean their own homes, so they look for professionals to do it. You can sell home cleaning on a weekly, bi-weekly, or monthly basis.

You can charge by the hour, flat rate, or even per room. Many people are happy to pay for regular cleaning to keep their homes tidy. If you do a good job, you’ll likely get repeat business and new clients through referrals.

4. Personal trainer

Starting a personal training business can be a great way to earn a good monthly income. You can sell sessions in person or online, depending on what works best for you and your clients.

By setting up a monthly service, clients get a fixed number of training sessions each month. This gives you a stable income and consistent progress for them.

Think about setting a monthly fee based on the number of sessions. For example, if you charge $50 per session and offer four sessions a month, your monthly service fee would be $200.

5. Lawn care

Starting a lawn care business can be a great way to earn some extra cash with a service business idea. You can sell services like regular lawn mowing, trimming, and garden maintenance. Many homeowners are willing to pay for these services to keep their yards looking nice.

You will need some basic equipment, such as a lawn mower, trimmer, and garden tools. Depending on the size of the lawns you work on, you might also need a leaf blower or other specialized equipment.

Lawn care can be a reliable way to make money, especially when the grass is growing (like in the spring and summer). It’s also rewarding because you get to help people keep their yards looking nice.

I have paid for lawn care many times in the past, anywhere from weekly to bi-weekly landscaping services. It is a very helpful service that many households enjoy paying for (because it can be such hard and sweaty work!).

6. Pool maintenance

Starting a pool maintenance business (pools and hot tubs, actually!) can be a great monthly service business idea. Many people with pools need regular cleaning and upkeep, such as on a weekly or monthly basis. In areas where there are a lot of hot tubs and swimming pools, there is a huge demand for this service.

You can sell services like cleaning, checking the water’s chemical balance, and minor repairs.

You’ll need some basic equipment to get started. This includes a pool skimmer, pool vacuum, water testing kits, and chemicals for balancing the pool water.

Selling monthly service plans can help you earn money consistently. Customers will like the convenience, and you’ll have a set schedule to follow.

7. Tutoring

Tutoring is a great way to earn extra money every month. If you enjoy teaching and helping others, finding online tutoring jobs could be a perfect fit. You can tutor in many subjects like math, science, or even music.

Tutoring can be done online or in person. Online tutoring can many times have flexibility, and tutors teach and reach students all over the world. In-person tutoring lets you connect face-to-face and build local relationships.

You can charge different rates based on your experience and the subject. Rates usually range from $20 to $100 per hour. The harder the subject you teach, the more money you can usually make. For example, college-level subjects tend to pay more than elementary school math.

Many times, tutoring is done on a weekly basis, but there are also options for bi-weekly or even monthly tutoring.

8. Dog walking

Dog walking is a great monthly service business idea, especially for animal lovers who want to earn money while spending time with pets.

Many dog owners have busy schedules and need help making sure that their dogs get the exercise and attention they need.

As a dog walker, you can sell regular walking services (as well as pet sitting!). These services can be set up on a daily, weekly, or monthly subscription basis, which means that you can earn consistent income.

This business requires minimal startup costs – just some comfortable shoes, a leash, and a love for dogs.

You can start by offering your services to friends and neighbors, and as your reputation grows, you can expand your client base through word-of-mouth or online advertising.

My mother-in-law is a dog walker and has many consistent clients. It’s a job that looks like fun, especially if you like spending time with cute dogs.

You can learn more at 7 Best Dog Walking Apps To Make Extra Money.

9. Meal prep services

Meal prep services are an increasingly popular monthly service business, perfect for those who enjoy cooking and want to help others eat healthier and save time. Many people struggle to find the time to prepare nutritious meals during their busy weeks, so selling a meal prep service can be a really helpful solution.

You could sell meals weekly, bi-weekly, or even make frozen meals that your clients could heat up later to eat.

You can customize your services to cater to different dietary preferences, such as vegan, keto, or gluten-free, making your business more appealing to a broader range of clients.

This business can possibly be started from your home kitchen with a few basic tools, and as demand grows, you can scale up by hiring additional staff or renting a commercial kitchen.

10. Laundry services

Starting a laundry service can be a good monthly business idea. People are always in need of clean clothes, and some households don’t have the time to do laundry themselves.

By selling a laundry service, you can pick up, wash, dry, fold, and deliver clean clothes back to your clients on a regular schedule, such as weekly, bi-weekly, or monthly.

This business requires minimal startup costs, mainly involving a reliable washing machine, dryer, and transportation for pickup and delivery. As your business grows, you can expand by adding specialized services like dry cleaning, stain removal, or ironing too, so there is room for more growth.

11. Tech support

Starting a tech support business is a great idea. Many people and small businesses need help with their computers and devices. Selling a monthly tech support subscription can be a steady source of income.

You can help with troubleshooting, fixing issues, and doing regular maintenance. This means that your clients’ technology will stay in good shape, and they won’t have to worry about tech problems.

You can sell services like virus removal, software updates, and data backups. You can even help set up new devices or networks.

By selling your services monthly, your clients will always know who to call when they have a problem. Plus, it can help you build strong, long-term relationships with them.

This is a service business idea that I personally currently pay for on a monthly basis, and I have for many, many years. It’s one of the best monthly expenses I have, and I am so grateful for this service.

12. Subscription boxes

Subscription boxes are a fun and profitable way to start a monthly service-based business. You get to put together a collection of items and send them to your customers every month. These boxes can include all sorts of goodies depending on your chosen niche.

Whether it’s beauty products, snacks, books, or fitness gear, there’s a subscription box for just about every interest and hobby. As a business owner, you can create a subscription box that caters to a specific niche, allowing you to tap into a passionate customer base.

The recurring nature of subscription boxes provides a steady stream of income, with customers signing up for monthly deliveries. You can start small by assembling boxes at home and gradually scale up as demand increases.

You can learn more at How I’ve Made Over $1,000,000 With A Subscription Box Business.

13. Elder care services

Elder care services are a great business idea if you love helping others. You can provide regular check-ins for seniors to make sure that they are safe and well.

Helping with daily tasks like grocery shopping, light housekeeping, and transportation can make a big difference too. Some elderly people may find it hard to get around or complete chores.

Providing companionship is another important part of this job. Spending time with seniors, chatting, or playing games can greatly improve their quality of life.

14. Power washing

Starting a power washing business can be a great idea. You can clean driveways, sidewalks, decks, and more. It’s a service people need regularly to keep their homes looking good.

You’ll need some equipment to get started. A good pressure washer, nozzles, and hoses are important, of course.

With a power washing service, you can sell regular cleanings on a monthly or seasonal basis (sometimes longer, though – maybe every 6 months or even once a year), making sure that clients’ properties stay in top condition.

15. Window cleaning

Window cleaning is a great business idea and many businesses and homes need their windows cleaned once a month.

You can start with just a few supplies. A bucket, squeegee, and some cleaning solution are the basics, so you don’t need a lot of money to begin.

You can sell your services to both homes and businesses. Many people don’t have the time to clean their windows. That’s where you come in.

When I worked at a retail store, we would do light window cleaning. But, about once a week or once a month, we would also have a professional window cleaner come in. They would make the windows look amazing with their better equipment, and they could also do it in a fraction of the time.

Frequently Asked Questions

Starting a monthly service business can be a great way to earn a steady income. Below are commonly asked questions to help you get started and grow your own service-based business.

What are ideas for monthly service business ideas from home?

Some great ideas for monthly services you can run from home include virtual bookkeeping, online personal training, online tutoring, selling subscription boxes, SEO (search engine optimization) help for small business owners (with their blog posts), and more. These businesses don’t need a lot of space and can usually be managed with just a computer and some simple tools.

What are some monthly service business ideas for students?

Students can sell tutoring, lawn maintenance, pet walking, event planning, car washing, carpet cleaning, golf club cleaning (yes, you can even do something that specialized), and other services. These jobs are flexible and can fit around your class schedule.

What services do people always need?

People always need house cleaning, lawn care, and pet grooming. These services help manage everyday tasks and are always in demand.

How can I get more customers for my service-based business?

You can get more customers by having promotions or discounts for new clients. You can also use social media to promote your services and ask your current customers to refer others. Make sure you provide great service so happy clients will tell others about your business, as word-of-mouth is huge in monthly service-based business ideas.

Best Monthly Service Business Ideas – Summary

I hope you enjoyed this article on the best monthly service business ideas to start.

A monthly service business is great because it gives you a steady income. Since customers pay regularly, you can better predict how much money you’ll make. This helps you manage your money and plan ahead.

For example, if you sell cleaning services or meal plans, you’ll know exactly when and how much you’ll get paid. Having a reliable income makes it less stressful and lets you focus on growing your business.

The most profitable service businesses depend on the demand in your area and your expertise/skills (how fast can you do the job?). Luckily, there are probably many on the list above that you can learn (with proper training) and get started with pretty quickly.

Plus, they typically have low overhead costs so you can get started quickly and affordably!

What monthly service business idea are you interested in starting?

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Source: makingsenseofcents.com