Wells Fargo announced today that it expects to report record first quarter earnings of $3 billion thanks in part to the current mortgage bonanza.
“Business momentum in the quarter reflected strength in our traditional banking businesses, strong capital markets activities, and exceptionally strong mortgage banking results,” said Chief Financial Officer Howard Atkins, in a release.
“$100 billion in mortgage originations, with a 41 percent increase in the unclosed application pipeline to $100 billion at quarter end, an indication of strong second quarter mortgage originations.”
The San Francisco-based bank and mortgage lender said it realized roughly $175 billion in loan commitments, mortgage originations, and mortgage securities purchases during the quarter.
The company processed $190 billion in mortgage applications for more than 800,000 customers, a 64 percent increase from the fourth quarter, aided by a record $83 billion month in March.
Additionally, Wells funded more than $100 billion in mortgage loans, serving over 450,000 borrowers via purchase mortgage or refinance transactions.
I wonder what kind of mortgage market share Wells Fargo and Bank of America will end up with this year.
The bank also provided 150,000 “mortgage solutions,” such as loan modifications and repayment plans, to help homeowners stay put during the quarter.
Wachovia has also been a welcome addition to the bank, contributing about 40 percent of combined revenue.
“With the acquisition of Wachovia, we’re now serving almost one of every three U.S. households. Revenue synergies from cross-sell are a huge opportunity much like the Wells Fargo-Norwest merger ten years ago,” Atkins added.
But what about all those billions in option-arms? At some point they will be a big, big problem, whenever they decide to charge them off. Moratoriums don’t last forever.
Shares of Wells Fargo were up nearly three dollars, or about 20 percent, to $17.71 in midday trading on Wall Street.
Initial public offerings (IPO) are a common tool for companies to raise capital, and the funds raised in an IPO are known as IPO proceeds.
When investors purchase IPO stocks, the company gets to keep the proceeds, after paying underwriters, the exchange, and others that helped with the IPO process.
By opening up to public investment, a previously private company can bring in significant funds that can be used for various activities, rather than turning to debt as a means of expansion.
Companies can use the capital brought in through an IPO in a variety of ways, but they must disclose their plans to investors.
IPO Proceeds Defined
When a company holds an initial public offering (IPO) they must publish their plans for how they will use the proceeds. This helps investors understand how the company will use their money, and decide whether they agree with the company’s plans before they invest.
This is important because even though the IPO process is highly regulated, it’s also highly risky. Some companies that issue their stock for the first time can see the stock price soar; others can see it plunge. It’s also possible for the IPO to have an IPO pop, or price spike, before dropping. This kind of volatility is common to IPOs, which is why investors must proceed with caution.
Companies preparing for an IPO file an S-1, a several-hundred-page document, with the Securities and Exchange Commission (SEC) which includes a disclosure about the planned use of IPO proceeds.
They must also show investors a business plan. Potential investors can evaluate the business plan and see if they think they will receive a satisfactory return on their investment if they buy stock in that IPO.
While companies get to keep most of their IPO proceeds, a portion also goes to all investment banks, accountants, lawyers, and others who helped them with the IPO process, including valuing the company and setting an IPO cutoff price. According to PWC, underwriting fees alone eat up 3.5% to 7% of IPO proceeds. 💡 Quick Tip: Keen to invest in an initial public offering, or IPO? Be sure to check with your brokerage about what’s required. Typically IPO stock is available only to eligible investors.
What Are IPO Proceeds Used For?
There are a few areas where companies tend to spend IPO proceeds. Generally companies mention multiple uses in their S-1 filings, and it may also be something that they discuss with investors during their IPO roadshow. These might include:
General Corporate Purposes
General corporate purposes is a very common area companies talk about in their use of proceeds statements. It is a broad category that covers a lot of uses such as capital expenditures, operating expenses, and working capital, and getting more money for this is a major reason that many companies go public. Companies can use this term to describe broad activities without going into detail about their plans.
This allows them to keep their plans private and also lets them keep their options open and decide exactly how to spend money at a later date. Some companies do go into greater detail about the meaning of their general corporate purposes statement.
Research & Development
Companies might also use proceeds from an IPO to fund research and development. They spend funds developing new products and services, which can take years and significant amounts of money. Since R&D is so expensive, it is a major reason companies choose to hold IPOs.
Without R&D, some companies might struggle to keep up with competition and stay relevant in their industry. Some companies go into detail about the types of R&D projects they plan to work on using IPO proceeds, while others keep their plans vague.
Company Growth
Companies often choose to hold an IPO to raise funds for company growth. Company growth plans often appear in their business plan, and can include capital expenditures, working capital, sales and marketing plans to help a company grow its reach and revenue.
Companies want to create long-term, sustainable growth so that a company can stay in business for a long time. Like other uses of IPO proceeds, companies may go into detail about their plans for company growth expenditures or they may keep their plans vague. 💡 Quick Tip: All investments come with some degree of risk — and some are riskier than others. Before investing online, decide on your investment goals and how much risk you want to take.
Acquisitions
Companies can use IPO proceeds to merge with or acquire other businesses, something that can be very expensive. Without holding an IPO a company might not have the funds required to complete an acquisition. Acquisitions and mergers can help a company grow their customer base, eliminate competition, and expand their product and service offerings.
When a company includes an acquisition in its S-1 filing, they must state which company they intend to acquire. If they don’t yet have a company in mind to acquire, they can just list acquisitions as one possible use of IPO proceeds. A company does not have to state the exact company they are interested in acquiring if it will harm the potential of the acquisition plan.
Some companies take a unique path to acquisitions using IPO proceeds, known as a “blank check” IPO or special purpose acquisition company (SPAC). Companies create a shell company that they take public with an IPO and then use the IPO proceeds to complete an acquisition.
Debt Repayment
Another common use of IPO proceeds is to pay off debt. By paying off any existing debts, companies no longer have interest payments, so they reduce their operating costs, and they can also gain access to more funds from loans. Although it can be beneficial to a company to pay off their debts, this use of IPO proceeds is not popular with investors.
Other uses of IPO Proceeds
In addition to the uses described above, there are many other ways companies can use IPO proceeds, including paying taxes and charitable actions.
SEC Requirements on IPO Proceeds
The SEC requires companies file a “use of proceeds” section in their S-1 IPO submission. The S-1 explains to investors the goals of the IPO and what the company plans to do following the IPO, including how they will use proceeds. Requirements for what must be included in the S-1 are fairly broad, so companies can choose how much to share with potential investors, and they have a lot of choice about how they can use IPO proceeds.
There are several specific requirements for what must be included in the S-1, a document scrutinized by investors as part of their IPO due diligence. The “use of proceeds” section must include a brief outline of how proceeds from an IPO will be used. The requirements for what the brief outline includes are broad, giving companies a lot of freedom in what they want to disclose. Companies are allowed to use broad statements about planned use of funds, such as listing the categories described above.
Later sections in the S-1 submission require companies to go into greater detail about spending plans if they plan to use funds for certain activities. Just because a company states they plan to use funds in a certain way doesn’t legally bind them to actually use the funds in that way. However, companies need to inform investors that plans may change later if that is the case.
The Takeaway
With many companies going public per year, knowing how a company is going to use its IPO proceeds — the funds earned from the public offering itself — is important if you’re thinking about investing in that company’s IPO. You can find that and other useful information about a planned IPO in a company’s S-1.
Common uses for IPO proceeds include paying off debt; funding additional research and development; general corporate purposes, and more.
Whether you’re curious about exploring IPOs, or interested in traditional stocks and exchange-traded funds (ETFs), you can get started by opening an account on the SoFi Invest® brokerage platform. On SoFi Invest, eligible SoFi members have the opportunity to trade IPO shares, and there are no account minimums for those with an Active Investing account. As with any investment, it’s wise to consider your overall portfolio goals in order to assess whether IPO investing is right for you, given the risks of volatility and loss.
Invest with as little as $5 with a SoFi Active Investing account.
FAQ
Who gets the proceeds from an IPO?
When a company holds an IPO, they receive money from banks and institutional investors who have agreed to invest prior to the start of the IPO. The company receives proceeds from the initial sale of stock. Any money exchanged after the IPO from the sale of stock doesn’t go directly to the company.
What are secondary IPO proceeds?
Primary proceeds are those made from the initial sale of stock in an IPO. Secondary IPO proceeds are those made in the stock market following the IPO.
How does an IPO raise money?
An IPO raises money by offering shares of stock in a company to institutional and retail investors. When investors purchase those stocks, the company gets to keep the proceeds, after paying underwriters, the exchange, and others that helped with the IPO process.
Photo credit: iStock/Charday Penn
SoFi Invest® The information provided is not meant to provide investment or financial advice. Also, past performance is no guarantee of future results. Investment decisions should be based on an individual’s specific financial needs, goals, and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below. 1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC registered investment advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or prequalification for any loan product offered by SoFi Bank, N.A.
Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement. IPOs offered through SoFi Securities are not a recommendation and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation.
New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For SoFi’s allocation procedures please refer to IPO Allocation Procedures. 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.
Welcome to the ultimate guide on converting a carport to a garage. Whether you reside in the vibrant city of Nashville, TN, and dream of transforming your carport into a garage with a guest living area, or you just bought a house in the quaint and charming city of San Marcos, CA, where you envision creating a mini bar and recreational living space, this Redfin article provides a comprehensive list of all the major considerations you should to take into account before you begin your project.
Converting a carport into a functional and versatile space is not only a trending home feature that adds value to your home but also opens up a world of exciting possibilities. In this article, we’ll provide you with a comprehensive checklist to consider before starting on your carport conversion project, along with fresh and innovative ideas that will inspire and elevate your project to new heights.
Carport garage conversion checklist
1. Check your local building codes, HOA regulations, and permits
Before starting on a carport garage conversion, it’s crucial to familiarize yourself with the specific building codes and regulations in your area. Local building codes determine the minimum standards for construction, safety, and design, ensuring that the garage conversion meets essential requirements. Additionally, if your property falls under a Homeowners Association (HOA), their rules and guidelines may impose restrictions or design criteria for garage conversion.
Ensure compliance with both the local authorities and the HOA to avoid potential legal issues or costly alterations down the line. Furthermore, obtain all necessary permits before beginning your project as these documents ensure that the project is reviewed and approved by the appropriate authorities and that it adheres to safety and zoning standards.
2. Determine your budget and financing options
Creating a comprehensive budget is a crucial step before starting any carport garage conversion project. Carefully assess the scope of your project, including materials, labor, permits, and any additional features or amenities you plan to incorporate. Factor in unexpected expenses to allow for flexibility during the project. If your budget exceeds your available funds, explore financing options such as home equity loans, personal loans, or lines of credit. Make sure to choose a financing solution with favorable terms and interest rates that align with your financial capabilities.
3. Hire a professional for a structural assessment
Converting a carport into a garage involves altering the existing structure, and it’s vital to ensure its stable and durable. Engage a qualified and experienced professional, such as a structural engineer or contractor, to conduct a thorough assessment of the carport’s foundation, framework, and load-bearing capacity. They will identify any potential weaknesses or areas that require reinforcement to support the additional weight of walls, roofing, and other modifications. The structural assessment provides crucial insights that guide the design and construction phase, ensuring that your new garage is safe and built to last.
Relying on professional expertise during this stage minimizes the risk of structural issues and potential hazards in the future. Before commencing any home improvement project, make sure to ask contractors questions to ensure their qualifications, experience, and adherence to local regulations and building codes. This proactive approach will help you select the right professional for the job and provide peace of mind throughout the conversion process.
4. Plan the design and layout of your garage
Careful planning of the design and layout is essential for creating a functional and aesthetically pleasing garage. Consider the number of vehicles you want to accommodate, as well as any additional storage needs or utility areas, such as a workbench Think about the placement of windows and doors to ensure sufficient natural light and easy access. If you intend to use the garage for multiple purposes, create designated zones to optimize space. Sketch out your ideas and explore various design options to find the one that best suits your needs and complements the overall architecture of your home.
5. Select the appropriate building materials
Choosing the right building materials is vital for the structural integrity, durability, and appearance of your garage. Select materials that align with your design preferences and work best for your local climate. For example, if your area experiences harsh weather conditions, opt for materials that offer superior weather resistance. Consider the type of walls, like wood or concrete blocks, and the types of roofing materials, like asphalt shingles or metal that will suit your needs and budget. High-quality materials may require a higher upfront cost but can save you money in the long run by reducing maintenance and repair expenses.
6. Plan for ventilation and climate control
Proper ventilation and climate control are essential to maintain a comfortable and safe environment within the garage. Adequate ventilation prevents the buildup of moisture and fumes, which can lead to mold growth and unpleasant odors. Install vents or exhaust fans to promote airflow and improve air quality. Additionally, consider insulation to regulate temperature extremes, keeping the garage cooler in summer and warmer in winter. If you plan to use the garage for activities that generate heat, such as a workshop or home gym, consider incorporating heating and cooling systems to ensure a pleasant workspace year-round. Efficient ventilation and climate control contribute to the longevity of the garage and protect any valuable items stored inside.
7. Determine if you need utility connections
Evaluate whether your garage conversion requires utility connections such as electricity, water, or gas. If you plan to use the garage as a workshop, laundry room, or home office, electrical outlets are essential to power tools and appliances. If you need water for a utility sink or bathroom, ensure the plumbing connections are feasible. Consider the potential cost of extending utilities to the garage and consult with professionals to understand the best approach for connecting utilities safely and efficiently.
8. Explore your garage door options
Selecting the right garage door is crucial for convenience, security, and aesthetics. Assess various garage door types, such as overhead roll-up doors, sectional doors, or swing-out doors, each offering different benefits. Also, consider the material of the garage door, such as steel, wood, or aluminum, based on your preferences and budget. Automatic garage door openers with remote controls provide added convenience and security. Choose a garage door that complements the architectural style of your home and meets your functional requirements.
9. Plan for lighting
Proper lighting is essential for a functional and safe garage. Assess the lighting needs based on the garage’s intended use. Overhead lighting provides general illumination, while task lighting is necessary for work areas. Consider LED lighting for its energy efficiency and long lifespan. If you want to maximize natural light, strategically place windows or skylights to enhance brightness during the day. Motion-activated lights around the garage’s exterior can also serve as security measures, deterring potential intruders.
10. Consider security measures
Garages often store valuable items like vehicles, tools, and equipment, making security a top priority. Install sturdy locks on all doors, including entry doors and any connecting doors to the house. Consider an alarm system to protect against theft and unauthorized access. Security cameras provide surveillance, allowing you to monitor activities around the garage. Motion sensor lights outside the garage act as a deterrent and enhance visibility during nighttime. Additionally, if you have windows in the garage, consider adding window locks for added security. By incorporating these security measures, you can safeguard your belongings and ensure peace of mind.
Carport conversion garage ideas
A garage is more than just a space to store cars, it can be a versatile extension of your home. Once you have converted your carport into a functional area, it’s time to consider a garage makeover that will elevate its potential even further. Explore exciting ideas such as transforming your garage into a dedicated home gym, a productive home office, or a fun-filled playroom.
For DIY enthusiasts, a well-organized workshop area can become a dream come true. Alternatively, create a cozy pet area to ensure your furry companions have a safe and comfortable space. With these creative garage makeover ideas, your garage will become a dynamic and multi-functional space that enhances your lifestyle and adds value to your home.
Workshop space
Converting your home garage into a workshop area is a dream come true for DIY enthusiasts and hobbyists. Start by installing a sturdy workbench with ample storage for tools and materials. Organize your tools on peg boards or wall-mounted tool racks for easy access. Adequate lighting is crucial for precision work, so consider adding task lighting above the workbench and general overhead lighting for the entire space. Enhance functionality by incorporating built-in shelves and cabinets for storing supplies. Insulate the garage to regulate temperature and make it a comfortable workspace year-round. With a dedicated workshop in your garage, you’ll have the ideal environment to unleash your creativity and complete various projects with ease.
Playroom
Converting your garage into a versatile playroom creates a dedicated space for recreational activities and entertainment for all members of the household. Start by creating a blank canvas with neutral colors to suit various interests and age groups. Consider adding soft and comfortable flooring for activities like yoga, board games, or simply lounging around. Install ample storage solutions such as shelves, bins, or cabinets to keep toys, games, and recreational equipment organized and easily accessible. Incorporate versatile furniture like bean bags, floor cushions, and modular seating to accommodate different play activities.
Add a chalkboard or whiteboard wall for creative expression and interactive fun. Integrate a variety of entertainment options, such as a TV, gaming consoles, or a projector for movie nights and virtual adventures. By creating a multifunctional playroom in your garage, you’ll have a space where everyone can unwind, have fun, and spend quality time together.
Home office
Converting your garage into a home office allows you to create a productive workspace away from distractions inside the house. Start by insulating the garage to ensure a comfortable and quiet environment. Consider adding windows or skylights to bring in natural light and create a pleasant working atmosphere. Install a sturdy desk and ergonomic chair for comfortable hours of work. Organize the office with shelves, filing cabinets, and storage solutions for a clutter-free space. Set up a reliable internet connection to stay connected and productive. If necessary, add heating and cooling systems to maintain a comfortable temperature. Personalize your home office with artwork, plants, and decor to create a motivating and inspiring workspace that enhances your productivity and creativity.
Home gym
Transforming your garage into a home gym provides the ultimate convenience for fitness enthusiasts. Clear out clutter and install rubber or foam flooring to create a safe and comfortable workout area. Incorporate wall-mounted mirrors to check your form and enhance the sense of space. Install proper ventilation or fans to keep the air fresh during intense workouts. Organize your gym equipment with wall-mounted racks or freestanding storage systems. Consider adding a sound system to keep you motivated during exercise sessions. With a home gym in your converted garage, you can exercise at any time without the hassle of traveling to a commercial gym, ensuring a more consistent and effective fitness routine.
Pet play area
Transforming your garage into a pet play area provides a safe and comfortable space for your furry companions. Clear out the garage and create a cozy environment with pet-friendly flooring, such as rubber mats or pet-safe carpeting. Designate specific areas for your pets to rest, play, and eat, and consider adding built-in pet beds or kennels. Install proper ventilation to maintain a fresh and odor-free atmosphere. Set up storage for pet supplies and accessories, including food, toys, and grooming tools. Ensure the garage is secure with pet-friendly doors and windows, allowing your pets to enjoy the outdoors safely. By converting your garage into a pet area, you offer a dedicated space where your pets can feel at home and be well-cared for.
Home bar and entertainment area
Converting your garage into a stylish home bar and entertainment area provides an ideal space for hosting gatherings and unwinding with friends and family. Install a functional bar counter with seating, complete with a sink and storage for drinkware and beverages. Consider adding a mini-fridge, ice maker, and wine cooler for easy access to refreshments. Set up a media area with a large-screen TV, sound system, and comfortable seating for movie nights and sports events. Enhance the ambiance with mood lighting, such as pendant lights or LED strips. Add decorative elements like wall art, mirrors, and shelving to showcase your spirits collection and add character to the space. With a well-designed home bar and entertainment area, your garage will become the go-to spot for fun and relaxation.
Laundry room
Transforming your garage into a laundry room not only significantly enhances your home’s functionality but also provides the added benefit of maintaining a clean and organized garage space. Install a utility sink for handwashing and soaking clothes, and set up space for your washing machine and dryer. Add ample counter space for folding and organizing laundry. Integrate built-in cabinets or shelves for storage of laundry supplies, cleaning products, and household essentials. Consider a drying rack or designated hanging space to air-dry clothes. Ensure the garage is well-ventilated for humidity control and maintain a pleasant atmosphere while doing laundry. By transforming your garage into a laundry room, you can streamline your laundry routine and keep your living spaces tidy and clutter-free.
Art and music studio
Transforming your garage into a versatile music and art studio at home provides an inspiring and creative space for artistic expression and musical pursuits. Start by creating a well-lit environment with ample natural light and adjustable artificial lighting to cater to various art and music needs. Install soundproofing materials like acoustic panels or foam to minimize sound leakage and ensure optimal acoustics for musical instruments. Consider adding storage solutions like shelves, drawers, and cabinets to organize art supplies, paints, brushes, and musical equipment.
Set up designated areas for artwork creation, musical instrument practice, and recording projects. Personalize the studio with artwork, musical memorabilia, and decor that reflect your unique style and inspirations. With a dedicated art and music studio in your garage, you’ll have a sanctuary to explore your creative passions and immerse yourself fully in the world of art and music.
Guest room
Converting your garage into a cozy and welcoming guest room is a fantastic way to provide a welcoming space for visiting friends and family. Begin by decluttering and insulating the garage to create a comfortable environment. Install proper lighting and ventilation to ensure a pleasant stay for your guests. Consider adding a comfortable bed, storage solutions, and decor that make the guest room feel like a home away from home. Personalize the space with thoughtful touches to make your guests feel special and cared for during their stay.
However, before proceeding with the conversion, be sure to check with your local authorities about Accessory Dwelling Units (ADUs) regulations, as these may apply to the guest room conversion depending on your area’s zoning laws and building codes. Taking these factors into consideration will help you create a delightful and compliant guest room for your loved ones.
Are you looking to create a tranquil escape right in your own backyard? In this Redfin article, we will explore the world of privacy fences and offer expert tips to help you build the perfect enclosure for your outdoor sanctuary. Whether you’re in Raleigh, NC, or Sarasota, Florida, we’ve got privacy fence ideas that can suit no matter where you live. Building a privacy fence can be the perfect solution to achieve serenity and seclusion.
Let’s explore the world of privacy fences, from the practicalities of cost and construction to the creative ideas that will turn your backyard into a personal sanctuary.
Is building a fence for privacy a good idea?
Building a fence for privacy can be a great idea, depending on your specific needs and preferences. Privacy fences offer numerous benefits, such as creating a secluded outdoor space where you can relax, entertain, or engage in activities without feeling exposed to neighbors or passersby. They also enhance security, providing a physical barrier and helps keep pets and loved ones safely contained within your property. Additionally, privacy fences can add value to your home and improve curb appeal, making it an appealing option for potential buyers.
How much does it cost to build a privacy fence?
Building a privacy fence cost can vary based on several factors, including the fence’s material, height, length, and labor costs. On average, the cost of building a privacy fence can range from $15 to $30 per linear foot. For instance, a standard wood privacy fence typically costs around $20 to $30 per linear foot, while vinyl or composite privacy fences can range from $25 to $50 per linear foot. Additionally, factors like the terrain, site accessibility, and any extra features, such as gates or decorative elements, can influence the total cost.
For example, let’s consider a 100 linear feet privacy fence made of wood. If the average cost is around $25 per linear foot, the total cost would be approximately $2,500 (100 ft x $25/ft). However, if you opt for a more durable material like vinyl, which costs around $40 per linear foot, the same 100 linear feet fence would cost $4,000 (100 ft x $40/ft).
These figures exclude any additional expenses like permits, removal of existing fences, or landscaping adjustments. Keep in mind that the labor costs for fence installation can also vary depending on your location and the complexity of the project. It’s essential to obtain detailed quotes from reputable contractors to get a more accurate estimation for your specific privacy fence project.
Privacy fence ideas
You might be wondering what type of fence you should get to add privacy and beauty to your outdoor space. We’ve compiled a variety of privacy fence ideas to suit your preferences, whether you’re aiming for a classic look, a modern design, or a touch of greenery.
1. Board-on-board wood fence
A classic and popular choice for privacy, the board-on-board wood fence features overlapping vertical boards on both sides of the fence, creating a seamless look with no gaps between the boards. This design provides maximum privacy and a clean, attractive appearance.
2. Vinyl privacy fence with lattice top
Vinyl fences offer low maintenance and durability. Adding a lattice top to a vinyl privacy fence not only increases height and privacy but also adds an elegant touch. The lattice allows some sunlight and air to pass through while maintaining a sense of seclusion.
3. Bamboo privacy fence
For a natural and eco-friendly option, consider a bamboo privacy fence. Bamboo panels are sustainable, aesthetically pleasing, and provide an exotic touch to your outdoor space. They can be installed as standalone panels or attached to an existing fence structure.
4. Metal privacy screens
Metal privacy screens are a modern and stylish alternative to traditional fences. Available in various patterns and designs, metal screens can add a contemporary touch to your outdoor area while still providing privacy.
5. Living green privacy wall
Create a living privacy fence with lush greenery by using climbing plants or creating a green wall. Options like ivy, climbing roses, or tall shrubs can soften the appearance of your fence and add a natural, inviting ambiance to your yard.
How to build a privacy fence
1. Check local regulations
Before starting on your privacy fence project, it’s crucial to research and understand the local regulations, building codes, zoning ordinances, and any guidelines set forth by your homeowner association. These rules can vary significantly from one area to another and may dictate the maximum height, setback requirements, permitted materials, and other restrictions related to fence installation. Ignoring these regulations could lead to costly fines or having to tear down non-compliant fences. You can contact your local building department or visit their website to obtain the necessary information.
2. Determine the fence’s location and layout
Careful planning of the fence’s location and layout is essential to ensure you get the most out of your privacy fence. Start by marking the fence line using stakes and strings. Double-check the measurements to avoid any encroachment onto neighboring properties. Consider factors such as property lines, existing structures, trees, and landscaping that may influence the fence’s placement. Think about how the fence will affect the flow of your outdoor space, where the main entrances will be, and how it will provide the desired privacy. Taking time to plan the layout will save you from potential complications during the construction phase.
3. Gather the required materials and tools
Once you have the fence layout planned out, it’s time to gather all the necessary materials and tools. Start by choosing the right fence materials that align with your budget and aesthetic preferences. Popular privacy fence options include wood, vinyl, aluminum, and composite materials. Depending on your choice, purchase fence panels, posts, gate hardware, screws, and other required accessories.
Additionally, ensure you have the appropriate tools to complete the project efficiently and accurately. Common tools for building a privacy fence include a post hole digger, shovel, level, tape measure, saw, drill, and a hammer. Quality materials and proper tools will ensure a sturdy and long-lasting privacy fence that withstands the elements and provides the desired level of privacy.
4. Prepare the ground
Before commencing the actual fence installation, you must prepare the ground along the fence line. Clear the area of any vegetation, debris, or obstacles that could hinder the fence’s construction. If your area experiences heavy rain or has poor yard drainage, consider grading the ground to ensure proper water runoff. Once the area is clear, begin digging the post holes. The depth of the holes should be at least one-third of the length of the fence posts to provide stability.
Use a post hole digger or an auger to dig the holes uniformly, and ensure they are straight and level. Installing the fence on uneven ground can lead to an uneven appearance and structural issues, so take your time to achieve a level and solid foundation.
5. Install fence posts
After digging the post holes, it’s time to install the fence posts. Place the posts into the holes and fill the bottom with a few inches of gravel. The gravel helps with drainage and prevents water from pooling around the base of the posts, which can lead to rot over time. Use a level to ensure each post is plumb and straight before proceeding. Once the posts are correctly positioned, it’s time to set them in concrete.
Follow the manufacturer’s instructions for mixing and pouring the concrete, making sure it reaches the desired strength. Allow the concrete to cure completely before moving on to the next steps. Properly installed and secured posts are the backbone of a sturdy privacy fence, providing stability and support for the entire structure.
6. Attach fence panels
With the fence posts set in concrete, it’s time to attach the fence panels to complete your privacy fence. Begin by aligning the first fence panel with the first two posts and attach it using screws or brackets. Ensure the panel is level and plumb before moving on to the next section. Repeat this process for each panel, ensuring uniform spacing between them for a consistent and professional appearance.
If you have chosen pre-built fence panels, it will make the installation process smoother. However, if you are using individual pickets, take extra care to align and attach them evenly. Additionally, if you have any gates in your fence design, make sure to follow the manufacturer’s instructions to install them securely and smoothly.
Remember to follow safety precautions while digging and working with heavy materials and tools. Double-check all measurements and levels throughout the process to ensure accuracy and alignment.
7. Add finishing touches
After the fence panels are securely attached, it’s time to add some finishing touches to enhance the overall appearance and functionality of your privacy fence. If you opted for wooden fencing, consider trimming the tops of the fence posts for a more polished and cohesive look. You can choose from various decorative post cap designs that complement your property’s style. Post caps not only add an aesthetic appeal but also protect the fence posts from moisture and potential rot.
Additionally, if your fence design includes a gate, install latches and handles that match the overall style of the fence. Ensure the gate operates smoothly and securely, and consider adding a self-closing mechanism for added convenience and safety.
8. Double-check stability
Before completing the fence installation, thoroughly inspect the entire fence for stability and structural integrity. Ensure that all fence panels are securely attached to the posts and that the posts are firmly set in the concrete footings. Wiggle the fence panels and gates to check for any loose connections. Use a level to ensure the fence panels are still straight and aligned correctly. Address any issues you find promptly to avoid future problems.
9. Test the privacy
After completing the fence installation, take the time to test the privacy it provides. Stand at various points around your property to assess if the fence effectively shields your outdoor space from eyes. Make any necessary adjustments, such as adding more privacy-enhancing elements like lattice panels or planters with climbing vines. Depending on your property’s layout and the surrounding environment, you may discover specific areas where additional privacy measures are needed.
10. Maintain your fence
To prolong the life and appearance of your privacy fence, regular maintenance is essential. Perform routine inspections to check for any loose screws, damaged panels, or signs of wear. Clean the fence periodically to remove dirt, debris, and mold growth, especially in damp environments. Depending on the fence material, you may need to apply protective coatings or treatments to shield it from the elements. Wooden fences may require staining or sealing every few years to prevent rot and decay.
The dos and don’ts to building privacy fences
To ensure a successful and satisfying project, it’s essential to consider both the dos and don’ts of fence construction.
Do’s for building a privacy fence
1. Do consult your neighbors
Before starting your privacy fence project, communicate with your neighbors about your plans. Inform them about the fence’s design, height, and location to avoid any potential disputes or surprises. While you might have the legal right to build the fence within your property boundaries, maintaining a good relationship with your neighbors fosters a sense of community and reduces the likelihood of conflicts arising in the future.
2. Do consider wind resistance
If you live in an area prone to strong winds or storms, consider the wind resistance of your privacy fence. Tall and solid fences can act as a wind barrier and create pressure on the fence panels and posts. To mitigate this, opt for fence designs that allow wind to pass through, such as lattice or picket fences. Alternatively, create small gaps between the panels or use fence materials with spaces, which reduces the wind load and minimizes the risk of damage during storms.
3. Do call utility companies before digging
Before digging the fence post holes, call your local utility companies to mark any buried utility lines on your property. Striking underground utilities can lead to dangerous situations and costly repairs. Utility companies usually offer this service for free, and marking the lines will ensure you avoid any accidental damage during the fence installation process.
Don’ts for building a pivacy fence
1. Don’t forget about gate access
When designing your privacy fence, don’t overlook the importance of gate access. Ensure your fence has appropriately sized gates to accommodate easy movement of people, equipment, and furniture in and out of your property. Consider installing a wider gate for vehicle access if required. Choose gate hardware, such as hinges and latches, that are durable and designed to support the weight of the gates to prevent sagging or misalignment.
2. Don’t ignore the quality of materials
While budget considerations are essential, don’t compromise on the quality of materials for your privacy fence. Choosing durable and weather-resistant materials will ensure your fence stands the test of time and requires less maintenance. Investing in high-quality materials upfront can save you money on frequent repairs and replacements in the long run.
3. Don’t disregard drainage considerations
When installing your fence, don’t overlook the importance of proper drainage. Improperly planned fences can impede water flow, leading to water pooling around the fence posts or panels. Over time, this can cause rot and weaken the fence’s foundation. To avoid this issue, ensure the ground slopes away from the fence or incorporate drainage solutions like French drains to divert water away from the fence line.
It may cost you, but the quality of life in Connecticut makes it worth it for many people. The state has great schools, low crime, access to outdoor activities and great, fresh food. Being part of New England, Connecticut is also full of history and culture, with plenty of museums. There’s even an amusement park should you need a change of pace.
To fit Connecticut into your budget, it’s best to understand how the state’s prices compare to the rest of the country. By looking at average costs in a few specific categories, you can make an informed decision about whether a move is in your future.
Connecticut housing prices
Housing prices in Connecticut all hit above the national average. That doesn’t mean you can’t find affordable housing throughout the state or a home for any budget. But, it could be more challenging to get those good deals.
Hartford
The capital of Connecticut, Hartford is one of the more affordable places to live in the state. Housing prices are only 1.4 percent above the national average, so not too far out of reach for many. The city has a long history, solid job opportunities and some amazing museums. The variety of local parks is an ideal family-friendly destination, as well, when the weather is nice (it does get cold in the winter.)
Apartment prices are on the rise and may sit at the high end of your budget. One-bedroom apartments, up 14 percent over last year, have an average monthly rent of $1,747. Two-bedroom apartments, up 10 percent over last year, have an average monthly rent of $2,367.
Home prices aren’t rising as quickly as apartment rent, up only 2.6 percent over last year. The median home price in Hartford is $240,000.
New Haven
Home to Yale University, New Haven is a college town with a little bit more. The prestigious university is a cornerstone of the city, but there’s also the beach, the history, museums and even nearby skiing. Living in New Haven isn’t cheap, though, and home prices are 20.9 percent above the national average.
Apartments are going to cost you, too, especially if you’re a college student. You may want to consider a roommate to keep things affordable. The average monthly rent for a one-bedroom apartment is $2,455, which is up 18 percent over last year. Two-bedroom apartments, up 17 percent over last year, average out to cost $3,102 per month.
Homes for sale are a little more reasonable, and the median sale price in New Haven is $280,000, down 12.5 percent over last year.
Stamford
With the highest home prices in the state, the cost of living in Connecticut really gets skewed thanks to places like Stamford. Here, home prices are 68.6 percent above the national average. This affluent city primarily attracts families and professionals and is perfectly situated for commuters. Many neighborhoods provide a small-town feel without taking you too far away from the urban amenities of downtown. That’s good news since your housing budget may make it hard to live right in the middle of it all.
Apartment rents are increasing at a pretty significant rate. One-bedrooms are up 23 percent, and two-bedrooms are up 34 percent, both over last year. This puts average monthly rent prices up there. The average rent for a one-bedroom is $2,654 per month, while a two-bedroom averages out at $3,599.
Home prices are also on the higher side, and the median sale price in Stamford is $680,000. This is up 11.5 percent over last year.
Connecticut food prices
Lobster rolls are the most iconic food out of Connecticut (and all of New England), but the state does a few favorites just a little differently. First, they steam their cheeseburgers rather than grill them, and if you’re in New Haven it’s ‘apizza’ and not pizza that’s on the menu. In the fall, you can sample another iconic Connecticut food, homemade apple cider. With all this deliciousness, Connecticut residents spend between $267 and $300 per month on groceries.
Across the state, food prices align with other costs of living elements in Connecticut and are above the national average.
New Haven is 0.4 percent above the national average
Stamford is 8.2 percent above the national average
Hartford is 8.4 percent above the national average
With these averages relatively close together, you most likely won’t find huge price differentials in specific grocery items. The difference in ground beef prices is less than a dollar across these three cities, and a dozen eggs are only 11 cents more from their cheapest to most expensive.
Average prices are a little higher for some things, though. A loaf of bread in Hartford is on the high side at $4.69, but even with a few doozies, you can stay on a budget when you grocery shop.
Connecticut utility prices
Connecticut winters can really ramp up your utility costs. The winter season is long, with the lowest temperatures between December and February. Evening temperatures can get down to zero degrees Fahrenheit, and snowfall is heavy. As a result, you may pay more for heating in the winter, which can raise overall utility prices pretty quickly.
Hartford is 26.4 percent above the national average
Stamford is 30.3 percent above the national average
New Haven is 32.2 percent above the national average
These averages, and the amount of energy you need to live in comfortable temps year round, can drive up your energy bill. Expect to pay an average of $260 per month in Hartford, $273 in Stamford and $279 in New Haven.
Connecticut transportation prices
Transportation prices throughout Connecticut are all above average, but on the whole, this state is very easy to get around. With some of the most walkable cities in the country, certain pockets of Connecticut are perfect for those who don’t want the expense of owning a car. Strong public transportation systems also make it easy to get around without having to pay for gas, parking or regular vehicle maintenance.
That said, transportation is still an expensive component of the cost of living in Connecticut.
Hartford is 4 percent above the national average
New Haven is 14.3 percent above the national average
Stamford is 16.2 percent above the national average
At these prices, it might be worthwhile to use a variety of transportation options to get around.
The walkability of Connecticut
It’s impressive for a state to have so many cities with high walk scores, and across Connecticut, infrastructure design really takes those on foot into consideration.
The downtown area, along the riverfront in Hartford, is extremely walkable, but so are a lot of nearby neighborhoods. Overall, the city has a walk score of 75.
New Haven’s downtown area has many sidewalks, with highly walkable areas around Yale’s campus and in nearby squares. Combined, this gives the city a walk score of 78.
Stamford has a walk score of 84. With walkable blocks, sidewalks and pedestrian walkways, the city is easy to navigate on foot, especially around the waterfront. There’s also a free trolley for when your feet get tired.
Public transportation in Connecticut
Each of our Connecticut cities provides public transportation, enabling residents to get around town without their own vehicles.
Hartford offers up two options. CT Transit has both local and express bus services around the city. For local service, a two-hour pass is $1.75, and a 31-day pass is $63. The dash Shuttle is another option. It’s a free service that runs downtown during the week, with extra service during major downtown events.
CT Transit also operates in New Haven and Stamford. New Haven buses run across 22 different routes, while Stamford operates 15. As long as you’re on a local bus line, even in separate cities, CT transit passes are the same price.
Stamford offers one additional mode of public transportation, the Harbor Point Trolley. This line connects the downtown area to Harbor Point, stopping at major spots like the government center and the University of Connecticut. The trolley is free to ride.
Connecticut healthcare prices
Healthcare prices in Connecticut are one of the few cost of living components with one city averaging below the rest of the county.
Hartford is 7.4 percent below the national average
Stamford is 7.2 percent above the national average
New Haven is 10.5 percent above the national average
These averages come from combining doctor visits, trips to urgent care, prescriptions, that annual eye doctor visits and dental check-ups. These averages put doctor’s visits between $100 and $140, dental visits between $87 and $122 and eye doctor visits between $127 and $155.
Connecticut goods and services prices
Eating that special New Haven ‘apizza’, grabbing a six-pack of craft beer or having cheeseburgers with friends all fit into the goods and services section of your budget. These are the activities you like doing but could live without if money got tight.
In Connecticut, goods and services prices, combined, all reach above the national average.
Hartford is 10.6 above the national average
New Haven is 16.7 percent above the national average
Stamford is 18.6 percent above the national average
These averages could mean you get to do a little less of those bonus activities each month, simply because of cost. The only way to really know is to look at the individual prices of your favorite extras.
Yes, we threw in one practical service into the chart, but when you price compare, you can see that not everything costs the most in Stamford. When it comes to beer and dry cleaning, Hartford actually takes the top spot, although overall, it’s the least expensive city, and New Haven is the cheapest when it comes to burgers. Without knowing individual costs, it’s impossible to budget for this aspect of the cost of living in Connecticut.
Taxes in Connecticut
Connecticut has a graduated income tax, which means your rate comes from how much money you make each year. You’ll end up paying somewhere between 3 percent and 6.99 percent.
When it comes to sales tax, the state-wide rate is 6.35 percent. That’s all you’ll pay across Connecticut. There are no local sales taxes.
So, if you’re shopping for furniture for your new apartment, for every $1,000 you spend, you’ll pay $63.50 in taxes. Not too bad.
How much do I need to earn to live in Connecticut?
The first thing you need to live in Connecticut is a home, and being able to afford one means putting at least 30 percent of your annual income toward rent. This is definitely possible, and you can calculate exactly what would work with your budget using our rent calculator.
To estimate needs, the average rent in Connecticut is $1,713. To afford this rent, at 30 percent of your income, you’d need to make a minimum of $68,520. This is highly possible given that the average annual wage comes really close. At $66,130, you’re right on the edge of affording an average rent, and not too far that you won’t have plenty of options to pick from that are just a little less.
Living in Connecticut
Connecticut may come at a higher-than-average cost, but calling the Constitution State home has plenty of benefits. Connecticut has the beach, great parks and a strong economy. Its location puts you close to just about anywhere in New England (and New York) and educational opportunities are top-notch.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of August 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Are you tired of being asked why you’re still single? It can be one of the most draining and uncomfortable questions out there. But fret not—being single doesn’t need to mean being alone! In this blog post, we’ll provide tips on how to respond when someone asks why you’re still single, teaching them (and reminding yourself!) that it’s more than okay to be unattached for now. So whether it’s your first time facing such an inquiry or the 50th, get ready to take back control with these simple responses from Redditors:
1. I have Personality Flaws I’m Unwilling Fix
Photo Credit: Shutterstock.
One user shared, “Because I have raging personality flaws that I’m unwilling to work on. Usually prevents any follow-up questions.”
Another user replied, “This is good. The first step is accepting that you have problems you’re unwilling to fix.”
One commenter added, “… I’ve never seen myself described in a single sentence before.”
Another Redditor said, “And you don’t even need to lie this time! Yeah, I see the issue here.”
2. Have you Seen the Economy!?
Photo Credit: Shutterstock.
One Redditor posted, “Have you seen the economy!?”
One replied, “In this economy???? Hahaha, but I know people that live together ‘as a couple’ just because it is cheaper than separate. I live in Brazil, but I know Brazilians in Portugal that live in 3 couples in a small three-bedroom condo, just because six people working to share rent is the only way to make the month.”
One user added, “The economy is in shambles.”
3 My In-laws were Unable to Conceive
Photo Credit: Shutterstock.
One user commented, “My in-laws were unable to conceive.”
Another added, “That’s really creative.”
One Redditor commended, “That’s the best reply I’ve ever seen. I wish I had enough brains to remember it.”
Another user said, “Excellently clever. I’m envious.”
One commenter added, “I had to think about this for a moment.”
“Imma use this next time,” one user concluded.
4. You See how Picky I am about Shoes: They only go on my Feet!
Photo Credit: Shutterstock.
One user posted, “Go full-on Cher from Clueless: “You see how picky I am about my shoes, and they only go on my feet!”
One commenter replied, “That movie was amazing.”
Another shared, “My go-to answer at this point is, ‘I really don’t know.’ Because I really don’t.”
5. Because I have a Radio Face
Photo Credit: Shutterstock.
One user shared, “Because I got a face for radio work.”
One replied, “…and a body for Standard Def.”
Another one responded, “…and a voice fit for silent films.”
One commenter said, “Objection! Radio work would not be a viable career choice if that were the case!”
6. Look at my Face and Take a Guess
Photo Credit: Shutterstock.
One online user commented, “Look at my face and body and take a wild [hecking] guess.”
One responded, “‘But you don’t look bad at all.’ ‘If that’s so, would you date me?’ ‘Eww, no.’ ‘So you think I look bad.’ ‘I already told you that you don’t look bad at all.’ ‘So it’s me you don’t like.’”
One user commented, “Unironically correct, lol.”
7. I didn’t Pass the Beauty Standards
Photo Credit: Shutterstock.
One Redditor stated, “I didn’t pass the beauty standards of my country.”
One replied. “You pass the beauty standards of Antarctica.”
Another added, “Sounds like a compliment … until it isn’t. Also, how dare you assume that the ten or so scientists that are stationed there aren’t super hot.”
One commenter added, “They’re, at the least, very cold.”
Another user shared, “Penguins are really attractive.”
8 I Don’t Meet Eligible People
Photo Credit: Shutterstock.
One user posted, “I don’t meet people (who could be potential partners), and I think more and more that I am not a ‘date’ type of person.”
One user replied, “You missed the arranged marriage era. It might have worked out for you. Perhaps you could borrow someone’s overbearing mother to find you a match.”
One Redditor added, “I have a couple of coworkers. One is Bangladeshi, the other is Indian. Their parents were like ‘Times are changing, you can marry for love if you want, and we’ll support you,’ and my coworkers were like ‘What the heck, you mean I’d have to DATE? [Forget that], please find me a husband.’
“Anyway one is now happily married and the other is constantly roasting her dad because he keeps offering her deadbeats riding on their dad’s coattails.”
Another commenter added, “No joke, arranged marriage sounds better and better, these days.”
“Yes, yes, I didn’t consider that. Tnx,” another user replied.
9. Why not?
Photo Credit: Shutterstock.
One of the Redditor commented, “Why not?”
One user then added, “That’s basically my response when my extended family asks this. They all have that small town, hurry up and settle down mentality, and are ALWAYS on my case about being single with no kids whenever I visit. Took me far too long to realize some of them are actually jealous. My money is MY MONEY. My time is MY TIME. I don’t have to confer with anyone before making a decision.”
Another user responded, “Misery loves company. They’re jealous…”
One Redditor added, “Do what you want whenever you want and indulge yourself and no sacralfices.”
Another user stated, “I’ve got a lot of friends from my hometown like that. I see how miserable some of them are and that’s repellent enough. Some of em got married way too young and didn’t vet their SO enough and realized they were crazy after they already got married.”
10. I’ve got the Personality of a Spoon
Photo Credit: Shutterstock.
“I’ve got the personality of a spoon,” one user shared.
Another asked, “Big spoon or little spoon?”
The OP answered, “The one you can never find a purpose for.”
Another user replied, “Salad spoon.”
11. Because I’d Rather be Alone and Happy
Photo Credit: Shutterstock.
One online user commented, “Because i’d rather be alone and happy than dealing with someone else’s work drama and emotional problems lol.”
One replied, “Being in a relationship seems so exhausting, I’ve been single for several years now and have absolutely no urge to date.”
Another user commented, “too real.”
12. Because I Tell the Truth
Photo Credit: Shutterstock.
One Redditor shared, “I tell the truth. I’m shy and don’t really meet new people. I’ve not added to my friend group, aside from partners of existing friends, in about 20 years. At work I have acquaintances from work—they’re nice people but I don’t communicate with them outside of work. I live alone, I work mainly alone, I don’t have any hobbies or interest groups.”
One replied, “Same.”
13. None of your Business
Photo Credit: Shutterstock.
“None of your business… that’s my usual response,” said one of the users.
Another user replied, “‘It’s because of Narnia.’ ‘Narnia?’ ‘Narnia business.’”
One also added, “It’s even cooler to turn it around on them: ‘Why would you think that’s your business?’”
Finally, another replied, “If they don’t know you that well, try weeping excessively. That discourages follow-up questions.”
14. I’m not Single; I have a Motorcycle
Photo Credit: Shutterstock.
One of the users said, “I’m not single. I have a motorcycle.”
Another user replied, “My cat takes up most of my free time.”
Another one responded, “What kind?”
One user added, “….and her name is Betsy and she lets me ride her all day and night, whenever I want.”
15. I’m Happy Single Right Now: Don’t Want to Ruin It
Photo Credit: Shutterstock.
One Redditor also shared, “I’m happy single rn. I wouldn’t want to ruin it.”
Another added, “When I was still single my response to this question was always ‘because I’m in a happy relationship with myself.’ I wasn’t, but it’s the thought that counts.”
One also confirmed, “I got out of a relationship a few months ago, it’s been rough but I really love my personal freedom. I’ll jump back in when I get tired of myself.”
Source: Reddit.
Image Credit: Shutterstock – Denis Makarenko
Who is one actress you can never stand watching, no matter their role? After polling the internet, these were the top-voted actresses that people couldn’t stand watching.
10 Actresses People Despise Watching Regardless of Their Role
These 7 Celebrities are Genuinely Good People
Photo Credit: Shutterstock.
We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble?
These 7 Celebrities are Genuinely Good People
Photo Credit: Shutterstock
Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.
These 10 Activities Are an Immediate Red Flag
Photo Credit: Shutterstock.
Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.
10 Celebrities That Made the Big Times Then Disappeared Off The Face of the Earth
Image Credit: Troma Entertainment
We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.
These 10 Terrible Movies Are Still People’s Favorites
Are you ready to create your very own DIY shed without breaking the bank? Whether you’re in sunny Orlando, FL, dealing with the winds in Oklahoma City, OK, or facing the seasons in Rochester, NY, this step-by-step guide is here to help you construct a shed that perfectly suits your needs and location. We’ve got you covered with various shed models, ensuring your build is a success, no matter where you are, while fitting your lifestyle.
How to build a DIY shed on a budget
From planning and design to installing doors and windows, here are the essential elements to ensure a successful and cost-effective shed-building journey.
1. Planning and design
Proper planning and design are crucial when building a DIY shed on a budget. Start by assessing your specific needs for the shed, whether it’s extra storage space, a workshop, or a place to pursue hobbies. By clearly defining its purpose, you can determine the ideal size and layout to minimize unnecessary expenses. Sketch out the shed’s design, considering practical aspects like door and window placements to ensure adequate light and ventilation. It’s essential to plan for cost-effective construction methods, such as simple roof designs and standard dimensions, to reduce material waste and expenses.
When planning cost-effective construction, opt for straightforward shed designs that don’t require complex angles or special tools. A rectangular or square shape with a single-pitched roof is not only easier to build but also more budget-friendly. Moreover, think about incorporating salvaged materials like old doors, windows, or reclaimed lumber into your design. Reusing materials can significantly cut costs while adding a unique touch to your shed.
For those looking for an even simpler and more budget-conscious option, DIY shed kits are worth considering. Shed kits typically include pre-cut and pre-measured materials, along with detailed instructions, making the construction process more accessible for beginners. These kits often come in various sizes and styles, allowing you to choose one that fits your needs and budget. While DIY shed kits may have a slightly higher upfront cost, they can save you time and labor, ultimately translating into potential cost savings.
Additional Tip: Before purchasing any materials or starting construction, check with local authorities about building permits and regulations. Compliance with local codes is essential to avoid potential fines or setbacks during the construction process.
2. Acquiring materials
Consider using pressure-treated lumber, which is durable and resistant to decay, at a lower price point than premium lumber. Reclaimed or salvaged materials can be excellent options for siding, roofing, and finishing touches, adding character to your shed while reducing expenses. Explore local classifieds, online marketplaces, or salvage yards to find discounted or secondhand building supplies. Additionally, reaching out to friends, family, or local community groups might lead you to unused materials they’re willing to part with. Being resourceful in sourcing materials can significantly contribute to cost savings.
Here is a checklist of basic tools needed for shed construction:
Measuring tape and level for precise measurements
Circular saw or hand saw for cutting lumber
Power drill with various bits for drilling holes and driving screws
Hammer and nails for traditional fastening
Screwdriver for assembling components
Safety equipment (gloves, safety glasses, ear protection) for protection during construction
Ladder for reaching higher areas during the build
Carpenter’s square for ensuring accurate angles
By having these essential tools on hand, you’ll be well-equipped to handle the construction efficiently and avoid costly delays or trips to the hardware store for missing items.
3. Preparing the site
Begin by selecting a level area with good drainage to prevent water accumulation around the shed. Clear the site of any debris, rocks, or vegetation that may interfere with construction. If the ground is uneven, consider using a shovel or a rented plate compactor to level the surface. Installing a base or foundation is essential for elevating the shed above the ground to protect it from moisture. For budget-friendly options, consider using a gravel or concrete block base, which requires less material and labor compared to a full concrete slab. Make sure to follow local building codes and regulations regarding setbacks and property lines.
Before construction, it’s a good idea to check the local utility lines and mark their location to avoid accidental damage during digging. Additionally, consider adding a layer of landscaping fabric beneath the foundation to prevent weed growth and improve drainage. If the site is susceptible to heavy rainfall or flooding, you might also consider building a raised platform or using pressure-treated lumber for the foundation to protect the shed from moisture. Proper site preparation will not only provide a stable base for the shed, but also prevent potential problems and costly repairs in the future.
4. Building the foundation
Depending on your budget and site conditions, there are several cost-effective options available. One of the simplest and budget-friendly choices is using concrete blocks or pressure-treated lumber as piers, which elevate the shed off the ground and prevent direct contact with soil and moisture. Another budget-friendly option is a gravel foundation, consisting of compacted gravel or crushed stone, which provides good drainage and stability. Follow the shed’s design and local building codes to determine the number and placement of piers or gravel pads. Once the foundation is in place, double-check its levelness and stability before proceeding to the next steps.
Consider adding cross-bracing or additional support beams to enhance the stability of the foundation, especially if your area experiences high winds or seismic activity. When using concrete blocks as piers, ensure they are level and evenly spaced to evenly distribute the shed’s weight. For gravel foundations, it’s crucial to create a stable and well-compacted base to prevent sinking or shifting over time.
5. Constructing the frame
The frame is the backbone of your shed, providing structural support and determining the shed’s overall strength. Use pressure-treated lumber or other cost-effective materials for framing components, such as joists, studs, and beams. The frame should follow the shed’s design and dimensions accurately, and all connections must be secure. Precisely cut the lumber according to your measurements and join the components using nails, screws, or appropriate hardware. Ensure the frame is square and level to avoid any structural issues down the line.
If you’re new to carpentry, take extra care when measuring and cutting the lumber to ensure accurate dimensions. Utilize a carpenter’s square to check for right angles, and consider using diagonal measurements to verify the frame’s squareness. Additionally, using galvanized or weather-resistant fasteners will enhance the frame’s durability and protect it from rust or corrosion.
6. Installing roofing and siding
When it comes to roofing and siding options for a budget-friendly shed, consider materials that offer durability without breaking the bank. Asphalt shingles are a cost-effective roofing choice, providing adequate protection against the elements. Metal roofing is another affordable option that offers longevity and easy installation. For siding, T1-11 plywood or oriented strand board (OSB) are economical choices that can be painted or stained for added protection and aesthetics. Alternatively, consider using salvaged materials or repurposed wood to create a rustic and budget-friendly exterior. Properly install the roofing and siding, paying attention to weather-proofing and sealing to ensure the shed remains dry and resistant to moisture.
To maximize cost savings, consider using a combination of new and salvaged materials for roofing and siding. Check local salvage yards or building material recycling centers for discounted or reclaimed materials that can be suitable for your shed. Additionally, apply weather-resistant barriers like roofing felt or house wrap beneath the roofing and siding to further protect the shed from moisture and drafts.
7. Adding doors and windows
Consider cost-effective options for doors, such as pre-hung exterior doors or repurposed doors from other projects. For windows, single-pane or salvaged windows can be more budget-friendly than high-end, energy-efficient models. Install weather stripping and proper sealing around doors and windows to minimize air leakage and improve energy efficiency. Additionally, consider positioning the doors and windows strategically to maximize natural light and ventilation within the shed.
If using salvaged doors or windows, ensure they are in good condition and provide adequate security and insulation for the shed. Applying a fresh coat of paint or stain can revitalize their appearance and extend their lifespan. For added security, consider installing simple and budget-friendly locking mechanisms or latches on doors and windows.
8. Finishing touches and interior
Install trim and moldings to cover any exposed edges and add a polished look. Apply a weather-resistant paint or stain to protect the exterior from the elements and prevent premature deterioration. Consider using leftover or salvaged materials for interior finishes, such as reclaimed wood for shelving or repurposed cabinets for storage. Organize the interior to maximize space and functionality, adding hooks, pegboards, or wall-mounted racks to keep tools and equipment neatly stored. Adding proper lighting, either through natural light from windows or affordable LED lighting fixtures, ensures a well-lit and functional workspace.
To further save on costs, explore creative DIY solutions for shelving and storage. Utilize old crates, pallets, or cinder blocks to create custom storage units. Additionally, consider using recycled materials or inexpensive alternatives for flooring, such as gravel or rubber mats, to create a comfortable and budget-friendly surface.
9. Safety and security
Regularly inspect the shed for any structural issues, such as loose nails or rotting wood, and address them promptly to prevent further damage. If your area experiences extreme weather, consider adding hurricane straps or anchors to reinforce the shed’s stability. Install a budget-friendly lock or latch on doors and windows to deter potential intruders and safeguard your belongings. In regions prone to pests, use weather stripping and sealant to close any gaps and prevent entry.
Incorporate additional safety measures such as smoke alarms or fire extinguishers, especially if you plan to use the shed for activities involving heat or flammable materials. If you have electrical outlets or wiring in the shed, ensure they are installed correctly and up to code to prevent potential fire hazards.
Types of sheds
Here are a few examples of the different types of sheds and their purposes.
1. Storage shed
The primary function of a storage shed is to provide ample space for storing various items, such as gardening tools, lawn equipment, bicycles, and seasonal decorations. Storage sheds typically have a simple design with single or double doors for easy access. They may include shelving, hooks, or pegboards for organizing and maximizing storage capacity.
2. Garden shed
A garden shed serves as a dedicated space for gardening activities, such as potting plants, storing gardening tools, and housing supplies like soil and fertilizers. Garden sheds often have workbenches or planting tables to facilitate potting and transplanting. They may also include windows or skylights to provide natural light for gardening tasks.
3. Workshop shed
Workshop sheds are designed as functional spaces for DIY projects, woodworking, or hobbies that require a dedicated workspace. Workshop sheds have sturdy workbenches or workstations with ample storage for tools and materials. They may have multiple electrical outlets and good lighting to support various projects.
4. Home office shed
Home office sheds provide a quiet and separate workspace away from the distractions of the main house, making them ideal for remote work or personal projects. Home office sheds are insulated and climate-controlled, with windows for natural light and ventilation. They often have space for a desk, chair, storage, and electrical outlets for electronic devices.
5. She shed
A she shed is a retreat space designed for relaxation, hobbies, or personal escape, providing a peaceful and private environment. She sheds are customizable and can include cozy seating, bookshelves, art supplies, or a mini-fridge for refreshments. The decor and furnishings are tailored to the owner’s preferences and interests.
Rohit Chopra, director of the Consumer Financial Protection Bureau, has said the bureau is “no stranger” to litigation challenging the agency’s constitutionality. The Supreme Court is poised to hear oral argument on another such case this fall that could hold much of the agency’s rulemaking agenda in the balance.
Bloomberg News
The Consumer Financial Protection Bureau has a jam-packed agenda ahead with final rules coming soon that would cut credit card late fees to $8, create a registry of corporate “bad actors,” and require nonbanks to disclose terms waiving consumers’ rights to arbitration.
But the CFPB is operating under a cloud of uncertainty with the Supreme Court scheduled to hear oral arguments in October in a case challenging whether the bureau’s funding is constitutional. The legal and regulatory uncertainty will continue until the high court rules on the case by June 2024 at the latest. CFPB Director Rohit Chopra has been clear that the bureau is “not holding back” on rulemaking or enforcement.
“The CFPB is certainly no stranger to these types of challenges,” Chopra told American Banker in a recent interview.
But the CFPB got hit with further legal turbulence this week when a federal judge in Texas temporarily blocked implementation of the bureau’s small business data collection rule until the Supreme Court case is decided. Bankers have since urged the bureau to halt all bank data collection under the rule until after the outcome of the Supreme Court’s decision.
The ruling could change the calculus for the CFPB’s regulatory agenda going forward, potentially holding off several rules from going into effect. The judge granted a preliminary injunction to members of two bank trade groups and a private bank that had sued the CFPB, setting the stage for other trade groups to follow suit.
“This creates the precedent that fundamentally alters the CFPB’s agenda for the next year,” said Ed Mills, managing director at Raymond James. “The biggest development in favor of the industry is the most recent ruling and that there is a judge that says the CFPB can’t do anything until the Supreme Court has decided.”
The big question for banks, consumers and investors is not whether industry trade groups will sue the CFPB to block any final rules from going into effect but when and where they will sue. Trade groups have already threatened to sue the CFPB over the credit card late fee proposal, with the choice of venue likely in Texas, where Republican jurists dominate the U.S. Court of Appeals for the Fifth Circuit.
The CFPB “is going to get sued for everything and part of the reason why they get sued is because a number of the lawsuits have been successful,” added Mills.
The industry’s playbook for how to successfully gut a CFPB rule — and challenge the constitutionality of the bureau — is the years-long litigation over the payday lending rule. The bureau issued the payday rule in 2017 and was sued in 2018 by two Texas payday groups. Last year, a three-judge panel on the Fifth Circuit ruled that the CFPB was unconstitutionally funded through the Federal Reserve System and invalidated the payday rule. The CFPB appealed that ruling last year, teeing up the current constitutionality case before the Supreme Court.
In the case this week that temporarily halted the small business data collection rule for banks, the two bank trade groups also had appealed to the Fifth Circuit.
CFPB Director Rohit Chopra is poised to issue four final rules by year-end that could be challenged. A rule on credit card late fees is expected to be finalized in September or October and go into effect early next year. The rule is a priority for Chopra and many experts think the CFPB will not change its proposal to drop late fees to $8 from between $30 to $41 currently.
“Chopra has the authority to issue the rule on credit card late fees, and trade groups likely will look to file a lawsuit in Texas to get before the Fifth Circuit,” said Dan Smith, president and CEO at the Consumer Data Industry Association and a former CFPB assistant director.
Todd Zywicki, a law professor at the Antonin Scalia Law School at George Mason University, said the credit card late fee rule “does seem more likely to get the chopping block if the final rule resembles the proposal.”
Two more final rules expected by year end on nonbank registries — one for so-called “bad actors,” and the other that is a workaround of the CFPB’s invalidated arbitration rule — are also expected to be challenged. The CFPB proposed a rule in December that would create a public database of corporate lawbreakers, requiring nonbanks to report any state and local court orders or judgments involving consumer financial products. A second registry proposed in January would require nonbanks to register contract terms waiving consumers’ rights to arbitration.
“The bad actors’ registry just puts a bull’s eye on the industry,” said Eric Johnson, a partner at Hudson Cook. “I can see somebody challenging both of those rules while we’re waiting for the Supremes to act, especially now that two banking associations have had success before a judge.”
Finally, a much-anticipated proposal on open banking that would give consumers control over their personal financial data is expected to be finalized in 2024.
Chopra is mindful of the timeframe and deadlines for getting rules from the proposal stage through the public notice-and-comment process, and to the final rule stage before enactment. If the CFPB waits too long, there is always a threat — albeit a minor one, experts say — that a rule could be repealed by Republicans, assuming they take control of the Senate and Presidency and retain the House in 2024. Republicans used an obscure legislative process called the Congressional Review Act to overturn the CFPB’s arbitration rule in 2017 by a vote of 51-50.
The Congressional Review Act is one of the reasons the CFPB is moving quickly to propose other rules and get them finalized next year before the election. Proposed rules are coming in 2024 on overdraft fees, nonsufficient funds fees and credit reporting.
By halting compliance with a rule, industry hopes to stall or at least put off enactment until another day.
“The delay is really important for the industry because it opens up other avenues,” said Mills. “If there is an effective delay, could industry be saved by a Supreme Court decision and by the 2024 presidential election?”
The CFPB is moving quickly on rules to appear as though it is “business as usual,” despite the threat of the Supreme Court case, experts said.
“I can see where Chopra has sped up the bureau’s activities because they are trying to show all the good they think they’re doing for consumers to justify their existence and prove their worth to Congress,” said Johnson.
US economy added fewer new jobs than expected last month.
The US non-farm payroll rose by 187,000 in July, data just released shows, below forecasts of an increase of 200,000.
June’s NFP has been revised down too, from +209,000 to +185,000, while May’s has been cut by 25,000, from +306,000 to +281,000, meaning fewer jobs were created in the spring than we thought.
The U.S. Bureau of Labor Statistics has also reported that the unemployment rate fell to 3.5%, down from 3.6% in June.
They add:
Job gains occurred in health care, social assistance, financial activities, and wholesale trade.
Economists are hopeful that the US economy is on track for a soft landing, after US employers added 187,000 jobs in July, less than expected.
July’s jobs report is a sign that the labor market is cooling after a series of interest rate hikes by the Federal Reserve have driven rates to their highest level in 22 years.
July’s gains were just 2,000 more than the jobs added in June. The BLS revised June’s job gain down to 185,000, a cut of 24,000 jobs. It also cut May’s jobs number. Together, June and July represent the two weakest monthly gains in two and a half years.
Here’s the full story:
US economy adds 187,000 July jobs in sign labor market is coolingRead more
In the UK, there are fears the economy is caught in a ‘low growth trap’, after the Bank of England cut its GDP forecasts yesterday and hiked interest rates to a 15-year high.
UK car sales have risen for 12 months in a row….but rising interest rates have been blamed for another fall in housebuilding.
Shipping giant AP Møller-Maersk has warned of a longer and deeper contraction of global trade than previously expected.
Inflationary pressures in the food sector are on the rise, with the UN reporting that global food commodity prices rose in July.
Revolut is shutting down its crypto trading operations in the US amid a regulatory crackdown.
a crackdown on crypto exchanges, by the Securities and Exchange Commission (SEC), which has accused industry giant Binance of a range of securities violations, including mishandling customer funds and misleading investors and regulators, and alleged Coinbase of skirting SEC rules by letting users trade crypto tokens that were actually unregistered securities.
Revolut said users will be blocked from buying cryptocurrencies from 2 September, and that access would be fully disabled by 3 October, meaning customers will no longer be able to buy, sell, or hold any cryptocurrencies after that date.
Revolut said in a statement:
“This decision has not been taken lightly, and we understand the disappointment this may cause. This suspension does not affect Revolut users outside of the US in any way, and impacts less than 1% of Revolut’s crypto customers globally.”
A spokesperson stressed that the decision would not affect customers in any other markets, including the UK, where Revolut has been registered as a crypto asset provider since September 2022.
The company – which has been waiting more than two years for a decision on its UK banking licence – said it would not disclose how much of its revenues rely on crypto services, but said in 2021 that they made up around 15-20% of its revenues.
The unemployment rate fell a tick to 3.5% and remains near the lowest rates recorded in half a century. We haven't had unemployment this persistently low for this long in decades. Layoffs are incredibly low and workers report feeling confident they can find work.
— Justin Wolfers (@JustinWolfers) August 4, 2023
Economics, suggests the Fed shouldn’t be worried that US wage growth was steady last month, rather than slowing as expected:
The news that average hourly earnings growth increased by 0.4% m/m in July, and 4.4% over the past 12 months, might seem like a problem for the Fed. With productivity growth accelerating, however, it may not be.
A chart showing US jobs changes
today’s US jobs data.
US jobs report in July is still consistent with a strong labour market, despite lower-than-expected and the smallest monthly job gains since December 2020.
Job gains cooled with the Fed’s tightening campaign and a slower economy, but still decent at 187K in July. Weakness is contained in the manufacturing sector where payrolls dropped by 2K, reflective of the sector’s downturn and more cyclical nature.
Higher-than-expected wage growth of 4.4% YoY means compensation is outpacing inflation and a boost for workers.
August 4, 2023
Carson, has fired over some ineresting thoughts on today’s US jobs report:
The jobs numbers this morning were just slightly below the expectations for a 200,000 increase, coming in an 187,000. At some point, job growth had to slow down and though many people will read this as the start of a recession, this is more likely just normalization of the economy as opposed to “softening.”
Job growth recently has been driven by non-cyclical sectors, like health care, education, and government. These sectors had lagged in the original recovery but have accounted for more than 50% of job creation in 2023 as opposed to 25% in 2022. The cyclical sectors have been on the softer side this year, and this report points to more of the same.
The unemployment rate fell a tick to 3.5% indicating that the labor market remains strong.
Strong employment and strong wage growth means income growth is still strong, which is positive for consumption and the economy, as long as inflationary pressure remains muted.
the ecommerce giant beat Wall Street forecasts last night with sales up 11% to $134.4bn in the last quarter.
The company reported a quarterly profit of $6.7bn, nearly double what analysts expected.
$DXY The Dollar heading lower after NFP pic.twitter.com/XazkDNbevl
Aurora Acquisition Corp., the special purpose acquisition company planning to make public the digital nonbank lender Better.com, said on Thursday that the Securities and Exchange Commission (SEC) ended an investigation of the companies with no enforcement action.
In July 2022, HousingWire reported that the SEC launched an inquiry into Aurora and Better to evaluate allegations of federal securities law violations, prompted by a former top executive’s lawsuit.
“On August 3, 2023, SEC staff informed Aurora and Better that they have concluded the investigation and that they do not intend to recommend an enforcement action against Aurora or Better,” Aurora’s SEC filing states.
The lawsuit was filed by Sarah Pierce, former executive vice president for customer experience, sales and operations at Better.com.
Pierce claimed the company and its CEO, Vishal Garg, violated securities and labor laws as the lender began working toward its public offering. Pierce alleges Garg told the board of directors that the firm would report a profit by the end of Q1 2022, despite Pierce and other senior leaders explicitly saying it was impossible.
The lawsuit is in the discovery phase, per court filings.
Aurora and Better disclosed that the SEC’s enforcement division requested documents in the second quarter of 2022 regarding Better’s business and operations and Garg’s other business activities. The company said it collaborated with the SEC.
Aurora’s shareholders will decide the merger’s fate next week, on August 11, about two years after the deal was announced and ahead of the extended deadline to complete the merger deal on September 30.
If Aurora is unable to complete the merger with Better by September 30, or any other business combination, it will cease all operations.
Better has faced an arduous journey to its IPO, marked by surging mortgage rates and declining origination production. In the first quarter of 2023, the digital lender posted a net loss of $89.9 million, per Aurora’s filings.
To navigate a challenging mortgage market, Better imposed massive layoffs, receiving bad press for the manner in which it handled the layoffs. The digital lender had about 950 team members as of June 8 — a 91% drop from its peak of approximately 10,400 employees in Q4 2021, SEC filings show.
Better’s most recent business change was to shift its real estate strategy. The company will partner with outside agents as referral partners, pivoting from its in-house licensed professionals. Ultimately, Better laid off the agents in its real estate brokerage subsidiary, Better Real Estate LLC.
Better ranked as the 59th largest mortgage lender in the country in the first quarter, per Inside Mortgage Finance.