Navigating the process of home inspections in South Dakota can be a daunting task for many homebuyers, especially those who are new to the real estate market. This comprehensive guide is designed to demystify the home inspection process, offering crucial insights and practical advice specifically tailored for those looking to purchase a home in the beautiful state of South Dakota. So whether you’re looking at homes in Sioux Falls or anywhere else in the Mount Rushmore State, here’s Redfin’s guide on what you need to know about South Dakota home inspections.
Why should you get a home inspection in South Dakota?
Investing in a home is a significant financial commitment, making a thorough home inspection in South Dakota a crucial step in the process. A comprehensive inspection can uncover potential issues, ensuring you make the right decision about your purchase. From finding structural issues to assessing the condition of electrical and plumbing systems, a professional inspection provides a holistic view of the property, offering peace of mind and potentially saving you from unexpected expenses down the road.
Are there any specialized inspections that South Dakota buyers should consider?
In South Dakota, buyers may want to consider specialized inspections based on the property’s unique features or location. For homes in flood-prone areas, a flood risk assessment is advisable. Similarly, properties with extensive acreage may benefit from a thorough well and septic system inspection. Mold and radon testing are also prudent in certain regions. Customizing inspections to suit the property’s characteristics ensures a more targeted evaluation, addressing potential issues specific to the South Dakota landscape and climate.
Are home inspections required in South Dakota?
While South Dakota doesn’t legally require home inspections, they are highly recommended and often considered a standard practice in real estate transactions. “Home inspections are not required in South Dakota, but 92% of all homes that are sold are inspected in South Dakota,” says Nick Gromicko, founder of the International Association of Certified Home Inspectors. Opting for an inspection is a proactive choice that serves the buyer’s best interests. It provides valuable information about the property’s condition and can be a negotiating tool in the buying process, allowing buyers to address issues or negotiate repairs before finalizing the deal.
How much does a home inspection cost in South Dakota?
The cost of a home inspection in South Dakota varies based on factors such as the property’s size, age, and additional services requested. On average, expect to invest a few hundred dollars. While the upfront expense may seem significant, it’s a small price to pay for the peace of mind and potential cost savings that come from identifying and fixing issues early on.
Can you sell a house in South Dakota without an inspection?
In South Dakota, sellers are not required to conduct a home inspection before listing their property. However, many sellers opt for pre-listing inspections. This approach allows them to address potential issues beforehand, presenting the property in the best possible light and potentially speeding up the selling process. While not mandatory, a pre-listing inspection can be a strategic move for sellers looking to be transparent and build buyer confidence.
Any other information or advice for South Dakota residents regarding home inspections?
Brad Banks of Black Hills Professional Home Inspections, based in Rapid City, recommends getting an independent home inspection from someone who doesn’t work with your realtor to get an unbiased opinion. “Your inspector should be working for the buyer, not the sale,” he says.
South Dakota home inspection: the bottom line
Regardless of where you choose to live, it’s important to understand the ins and outs of a home before buying. That’s what makes South Dakota home inspections so important. By having the important elements of your potential home looked at by professionals, you can eliminate the guesswork and avoid extra expenses.
Looking to learn the best ways to make money while you sleep? Do you ever feel worn out from your regular routine and tired of struggling to manage your money? Just picture being able to earn money even when you’re sleeping, without having to work long hours. In this article, I will show you 19…
Looking to learn the best ways to make money while you sleep?
Do you ever feel worn out from your regular routine and tired of struggling to manage your money? Just picture being able to earn money even when you’re sleeping, without having to work long hours.
In this article, I will show you 19 ways to help you reach financial freedom by earning passive income, such as while you sleep.
Having different ways to make money might seem like something crazy, but with the right plan and some hard work, it can actually happen.
In fact, I earn income all the time while I am sleeping and I love it. Now, that doesn’t mean that it’s easy. Some of the ways below will be harder than others, and they may take up a lot of time still. But, you may be able to earn money throughout the day from the hard work that you put in.
Key Takeaways
There are many ways to make money while you sleep, such as by blogging, selling digital products on Etsy, renting out storage space or real estate, putting your money in a high yield savings account, earning dividends, and more.
Some are easier to start than others – so make sure to think about the pros and cons, such as how much time it may take you or how much money you will need to start (your minimum investment!).
19 Best Ways To Make Money While You Sleep
Below are 19 ways to make money while you’re asleep.
1. Blogging
My favorite way to make money while I’m sleeping is by blogging, and it is a great way to make passive income while you sleep. I have been blogging for many years now (since I started Making Sense of Cents, I’ve made more than $5,000,000 from my blog), and I am able to work and earn money while I am asleep, such as by selling digital products, display advertising, and through affiliate marketing.
This is because readers read my blog posts throughout the day and night, even when I am not working. I have blog posts and advertising on my site, for example, that earn me income throughout the day.
So, what is a blog? A blog is like the article you’re reading now, written and published on a website. It’s basically a collection of written content. You can start a blog about many different topics, such as finance (like my blog!), recipes, family, health, wellness, pets, sports, outdoors, travel, and more.
Other similar ways to make money in your sleep include starting a podcast or a social media account, such as on TikTok or Instagram.
Recommended reading: The 25 Most-Asked Blogging Questions To Get You Started Today
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Want to see how I built a $5,000,000 blog?
In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.
2. Affiliate marketing
If you want to learn how to make money overnight (such as when you’re sleeping), then my absolute favorite way is affiliate marketing.
This is one of the main ways I make money on my blog, but you don’t need a blog to do affiliate marketing either. You can do affiliate marketing on Instagram, Facebook, Pinterest, an email list, and more.
Affiliate marketing is when you share products or services from other companies with readers, subscribers, or people that you know. When someone buys through your referral link, you get a commission and earn some money from the company.
Here’s an example: Let’s say you write about a book on your blog and provide a link to it. If someone buys that book through your referral link, you get a commission.
You’ve probably bought things through affiliate marketing many, many times over the years. I definitely have!
Recommended reading: Affiliate Marketing Tips For Bloggers – Free eBook
3. Selling printables
Making and selling printables is another good way to make money without much active effort.
Printables are digital items that people can download and print at home. They can be things like games for a bridal shower, checklists for grocery shopping, planners for managing budgets, invitations, coloring pages, quotes designed to be printed and hung on walls, and more.
I buy printables all the time, and so do other people. In fact, I bought a printable the other day for my daughter – one that would help her learn the alphabet that I could print out at home for her.
Making printables can be a passive way to earn money. You only need to make one digital file for each product, and you can sell it as many times as you want. All you need is a laptop or computer and an internet connection, which makes it a low cost way to start a business.
Recommended reading: How I Make Money Selling Printables On Etsy
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
4. Investing in real estate
Investing in real estate is a popular way to make passive cash flow while you sleep.
By purchasing rental properties, you can earn a steady flow of rental income from tenants and guests. Also, your property’s value will most likely appreciate over time, which can increase your net worth.
You can invest in residential properties, commercial real estate, short-term rentals (such as starting an Airbnb), REITs (real estate investment trusts), and more. There are pros and cons of each, so you will want to think about that before you get started.
Recommended reading:
5. Starting a YouTube channel
Starting a YouTube channel is another way to make money while you sleep. This is because you can add affiliate links to your videos, generate ad revenue, form brand sponsorships, and sell products within videos as well.
You’ll need to create videos that entertain, educate, or inform viewers, and get as many views to your videos as you can (for the most part, more page views usually does mean more income).
As your YouTube content becomes more popular, you will earn passive income from past videos while working on new content.
Recommended reading: How I Grew From 0 Subscribers To Over $100,000 On YouTube In Less Than One Year
6. Dropshipping
Dropshipping is a type of business where you sell items on an online store, but you don’t do the shipping. Instead, you have a supplier that does the shipping for you.
So, this means that you don’t need to keep any products in stock yourself.
That doesn’t mean that this is easy, though – you have to find trustworthy suppliers and make sure your customers get their orders on time. You will also need to create a website, find a way to differentiate yourself from other dropshippers, take pictures of the items you are selling, answer customer questions, and find ways to grow your store.
The types of items that you can sell in a dropshipping store include clothing, electronics, home decor, pet supplies, luggage, stationary, craft supplies, books, and more.
7. Online courses
I have made over $2,000,000 from selling courses over the years – courses that I have personally created.
Making and selling online courses is a great way to earn money at any time of the day – even while sleeping.
Some examples of courses that can be created include:
Parenting and family
Health and wellness
Woodworking
Dog training
Standardized tests preparation
Playing the guitar
Teaching a language
Traveling
Painting
Cooking
And so much more!
I have taken courses on all sorts of topics over the years, such as baby sleep classes, personal finance, credit card rewards, and so much more.
Creating an online course is one of the fastest ways to use your time, increase your earnings, and help more people.
Recommended reading: How I’ve Made Over $1,000,000 From My First Course Without a Big Launch
8. High yield savings accounts
A high yield bank account is a low-risk method to make extra cash while you sleep.
These types of savings accounts earn a higher interest rate than a regular savings account, so your money grows faster.
You will want to make sure that you pick a trustworthy bank and check the interest rates regularly because they can go up or down. Some people move their money into high yield savings accounts often so that they can get the highest interest rates.
Remember, these accounts usually over the long run have lower interest rates compared to stocks or real estate, but they give you a stable and secure way to earn money.
I personally use Marcus by Goldman Sachs as they have a very high rate. You can get up to 5.40% at the time of this writing through a referral link bonus. According to this high yield savings account calculator, if you have $10,000 saved, you could earn $540 with a high yield savings account in a year. Whereas with normal banks, your earnings would only be $46.
9. Dividends
Buying stocks that pay dividends is another way to earn money while sleeping.
When you invest in these stocks, you get a portion of the company’s earnings on a regular basis.
Here’s how dividends work: If you have shares of a company that gives you money because you own them, that’s called a dividend. So, if you own 10 shares of Company XYZ, and they give you $5 in dividends every year, you’ll get $50 in total for that year. Usually, companies give out dividends four times a year. In the example, the $5 they give you every year will likely be divided into $1.25 for each quarter (four times a year).
Recommended reading: What Are Dividends & How Do They Work? A Beginner’s Guide
10. Rent out your garage
If you have extra land or space in your home that you’re not using, you can make money by letting other people use it for storage.
You can rent storage space for things like cars, boats, boxes, and more. This could be your garage, driveway, closet, basement, attic, or even just a shelf.
A website where you can list your storage space is Neighbor. On this site, you can make between $100 and $400 or more every month. How much you earn depends on how much people in your area want to rent and what kind of space you’re renting out.
Recommended reading: Neighbor Review: Make Money Renting Your Storage Space
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You can use this website to list your unused space for rent and make up to $15,000 per year by doing so. With Neighbor, you can rent out your garage, driveway, basement, parking lot, shed, warehouse, carport, attic, street parking, or even a closet.
11. Hosting webinars
Webinars are like online classes or workshops about specific subjects (I’ve included a list below of some examples). If you’re an expert in something, you can record a webinar and charge people to attend or sell products and services related to the topic during the webinar.
You can also record your webinars and let people watch them whenever they want, which can bring in money while you are sleeping or on vacation.
For example, you could host a webinar about:
Starting an e-commerce store – Teach participants the ins and outs of setting up and running a successful online store.
Digital marketing strategies for small businesses – You could share online marketing techniques to help businesses grow their online presence, such as tips for TikTok, Instagram, Pinterest, Google SEO, and more.
Stock market investing for beginners – You could share advice and tips for newbies in the world of stocks, mutual funds, index funds, bonds, S&P, and investment portfolios.
How to make money with affiliate marketing – You could teach the strategies behind successful affiliate marketing sites.
How to invest in fine wine – Or, any other type of investment! If there is something specialized that you invest in that is different from normal, you may be able to generate interest in your webinar.
And so much more.
12. Peer-to-peer lending
Peer-to-peer (P2P) lending is when you lend money to people or businesses who need loans, and they pay you back with interest.
Websites like LendingClub and Prosper let you spread out your money to lots of borrowers, which lowers the risk if someone can’t pay you back.
As borrowers make their payments, you get a part of the interest, which adds to your passive income streams that you can make without working.
With a peer-to-peer lending site, people can borrow money from a group of lenders like you and me, rather than from a traditional financial institution like a bank. People use peer-to-peer lending sites for all sorts of reasons such as debt consolidation, home improvement, small business financing, investment opportunities, and more.
13. Selling stock images and graphics
If you like taking pictures, you can make money in your sleep by selling stock images on websites like Shutterstock, Getty Images, or Adobe Stock.
People buy stock images for all sorts of reasons, such as to put on their website, within articles and blog posts, on social media, and more. I buy stock images all the time because they can help to make a blog post more enjoyable to read (you can find several stock images within this blog post, in fact).
A great thing about stock content websites is that they can bring in money even when you’re not actively working. You take pictures, put them on the site, and they can keep making money for a long time.
Some common types of pictures that you can sell include travel, business, people, food, animals, health, fashion, sports, and more.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
14. Start a membership site
Creating a membership site where people pay a regular fee (such as each month or each year) for special content, resources, or services is a way to make money.
Some examples of membership sites that you can start include:
Stock image library – You can sell a collection of pictures or videos that subscribers can use for their own projects (such as their own business). Subscribers pay for access to this media library. I personally have been paying for a stock photo membership for years, and I think they are amazingly helpful.
Newsletter – Send valuable and special content straight to your subscribers’ email inboxes regularly where you charge a subscription fee for access.
Mastermind groups – You can form small, focused groups of individuals who come together to support and challenge each other in achieving their goals, and you charge a membership fee for participation. I have seen mastermind groups go for anywhere from free to tens of thousands of dollars a year to participate.
Freelance job board – You can start a site where freelancers can find real job listings and opportunities. Members pay for access to these job listings because they want to find real jobs that pay (instead of having to weed through fake ads or low paying ones).
Consulting or coaching services – You can give personalized advice, coaching sessions, or access to a private community for members looking for guidance in a specific area, like life coaching or business consulting.
Fitness membership – You can create a platform with workout plans, meal plans, and wellness tips. Members pay a monthly fee for access to this content.
Digital downloads library – You can create a library of downloadable resources like ebooks, templates, or software. Subscribers gain access by becoming members.
Community forum – You could create a community around a shared interest or hobby where members can engage in discussions, ask questions, and share experiences, and you charge a fee for access.
Online courses membership – You can start a platform where you have courses on a specific subject, like photography, cooking, or digital marketing, where subscribers then pay a monthly fee to access the content.
Keep in mind, the secret to a successful membership site is giving real benefits to your subscribers. So, whether it’s great content, a helpful community, or useful resources, make sure your members feel like they’re getting what they paid for so that they keep their subscription for months and years to come.
15. Sleep studies and mattress testing
Taking part in sleep studies and mattress testing will most likely not be a long-term, reliable source of income, but it can earn you some extra money while you literally sleep.
You can find these by researching local sleep clinics or mattress companies that have paid studies or testing. Many universities also pay for sleep studies, such as the Harvard Division of Sleep Medicine.
The amount of money you can make depends on the specific study or testing, but it can be an interesting way to earn some extra money or get a free mattress for your time.
16. Vending machine business
Running a vending machine business can be a good way to make money, and you can sell different kinds of products. You may be able to earn over $1,000 a month with a well-run vending machine business.
Here are some ideas of what you can sell in a vending machine:
Snacks and drinks:
Chips
Candy
Nuts and seeds
Cookies
Soda
Bottled water
Energy drinks
Juices
Healthy and organic food:
Granola bars
Dried fruits
Nut mixes
Organic snacks
Low-calorie drinks
Hot drinks:
Coffee (regular, decaf, specialty)
Tea
Hot chocolate
Frozen treats:
Ice cream
Frozen yogurt
Popsicles
Fresh food:
Sandwiches (pre-packaged)
Salads (in sealed containers)
Fruit cups
Yogurt parfaits
Personal care and hygiene items:
Tampons and pads
Toothbrushes and toothpaste
Hand sanitizer
Makeup
Vitamins and supplements
First aid kits
Pain relievers
Electronics and accessories:
Phone chargers
Headphones
Power banks
Office and school supplies:
Notebooks
Pens and pencils
Sticky notes
USB drives
Specialized items:
Fishing bait and supplies
Beauty and skincare products
Baby items (diapers, wipes, toys, snacks)
Recommended reading: How I Make $7,000 Monthly With A Vending Machine Business
17. Amazon FBA
Amazon FBA (Fulfillment by Amazon) is where sellers store products in Amazon’s fulfillment centers, and Amazon handles customer shipping, returns, and customer service on the seller’s behalf. By using FBA, you can sell a variety of products without worrying about storing inventory or handling shipping logistics.
You would be finding the products to sell, though. Even if you have no experience selling on Amazon, you can earn money selling household goods, toys, books, electronics, and so on.
If you want to learn more about starting an Amazon business, I recommend signing up for this free training that will teach you how to sell products on Amazon and make $100 to $500 per day.
Recommended reading: How To Work From Home Selling On Amazon FBA
18. Write a book
People can buy books at any time of the day, including while you are sleeping.
Self-publishing online platforms, such as Amazon KDP (Amazon’s Kindle Direct Publishing platform), allow you to reach a broad audience without the need for a traditional publisher.
Writing your own book is a great way to make money from home, and there is probably something helpful that you could write about (even if you think otherwise!). One very popular topic right now is romance novels, in fact.
Recommended reading: How Alyssa is making $200 a DAY in book sales passively
19. Develop and sell an app
If you have technical skills, developing and selling an app can be a way to make money overnight while you are sleeping.
Creating your own app, whether it’s a helpful tool, a fun game, or something else, can help you to make passive income.
Even though it will take some work and money up front, once your app is in the app stores, it can generate revenue no matter the time.
Some ideas for apps that you could create include a budgeting tracker, meal planner, fitness tracker, meditation app, travel itinerary planner, and more.
You will want to do some research, and make sure that there are people who want to use the app that you are thinking about creating, of course. You could start brainstorming ideas by thinking about what kind of app you think could be helpful in your life to have.
Frequently Asked Questions On How To Make Money While You Sleep
Below are answers to common questions on how to make money while you sleep.
What is passive income?
Passive income is money you earn without actively working, and instead, it comes from investments, businesses, or assets that require minimal effort on your part. Now, that doesn’t mean that making passive income is easy, as you will most likely have to put in a lot of work in the beginning to get started. But, it can be well worth it to make money at any time of the day. Passive income is personally my absolute favorite way to make money.
Which businesses make income overnight? What businesses make money while you sleep?
A few businesses that can generate income even when you’re not actively working are online stores, affiliate marketing websites, and selling printables. These businesses run online, making them accessible to customers 24/7 so people can use them.
What did Warren Buffett say about making money while you sleep?
Warren Buffett, a successful investor and businessman, is quoted as saying, “If you don’t find a way to make money while you sleep, you will work until you die.” This goes to show how important it is to find ways to make money without constantly working a regular 9-to-5 job.
What is the best way to make money while you sleep? – Summary
I hope you enjoyed this article on how to make money while sleeping. As you can see, there are many full-time jobs and side hustles to make money while you sleep such as:
Blogging
Affiliate marketing
Selling printables
Investing in real estate
Starting a YouTube channel
Dropshipping
Selling online courses
Putting your money in high yield savings accounts
Dividends
Rent out your garage
Hosting webinars
Peer-to-peer lending
Selling stock images
Start a membership site
Sleep studies and mattress testing
Vending machine business
Amazon FBA
Write a book
Develop and sell an app
Do you want to learn how to make money while you sleep?
With more affordable housing prices than surrounding states, Nevada is attracting new residents every day. Those moving to Las Vegas have very different preferences when it comes to apartments. These are the best apartments in Las Vegas.
Photo source: Avion at Sunrise Mountain / Rent.
Right at the base of Sunrise Mountain on the northeast side of the Las Vegas metro area, Avion at Sunrise Mountain has the best view of the city you can get. Furthermore, it boasts not one, but two pools, a 24-hour fitness center and a business center.
Resident can choose from apartment plans with up to three bedrooms, with furnished units available for those that would like them.
Photo source: Trend! / Rent.
Living up to its name, Trend! is a contemporary apartment community with amenities galore—on-site dry cleaning, electric vehicle charging stations, a heated pool and water bottle and towel services are only a handful of the many.
These luxury apartments have one-, two- and three-bedroom plans to choose from and are in the mellow Silverado Ranch neighborhood.
Photo source: Tamarus Park at Heritage Square / Rent.
Tamarus Park at Heritage Square lies within walking distance of UNLV and only a few minutes away from the Strip by car. There are studio, one and two-bedroom units giving the perfect space for anyone at any stage of life, whether a student, young professional, or growing family.
The added benefits of a pool, hot tub and fitness center, not to mention on-site patrol make it a safe environment to live and relax without needing to leave the community.
Photo source: La Villa Estates / Rent.
La Villa Estates is in the coveted Summerlin neighborhood, with trendy boutiques and cafes and views of the mountains across the city.
There are one, two and three-bedroom options, along with access to a business center, hot tub, pool and even racquetball courts. Safety is a priority at La Villa Estates, with gated community access, controlled access to each building and on-site patrol.
Photo source: Wynn Palms / Rent.
On just the other side of the freeway from the Strip, you’ll find the Wynn Palms. Living here will put you within walking distance from many high-end restaurants, casinos and other entertainment options.
A business center, playground and pool come with these one-and two-bedroom apartments. There is also on-site patrol to give further privacy and protection to Wynn Palms residents.
Photo source: Maverick & Hidden Village / Rent.
Minutes away from downtown Las Vegas, Maverick & Hidden Village is comfortably settled within the Arts District and Orleans Square, putting great food and art right at your doorstep.
These one- and two- bedroom units allow for short-term rentals to accommodate any time period for which you might need an apartment. There’s also the option of renting a furnished apartment, so you only need to bring your clothes and personal items.
Photo source: 20 Fifty One / Rent.
Offering units with up to three bedrooms, 20 Fifty One is truly a family-friendly community. It includes a shared barbeque area with a children’s playground, a clubhouse for indoor gatherings and multiple safety measures put in place, including on-site patrol and controlled access to each building.
Not only does 20 Fifty One allow for up to two pets (dogs and/or cats), but it’s located near a pet park where residents can easily take their furry friends to get some fresh air and let out their energy. You will want to see this complex because it’s one of the best apartments in Las Vegas.
Photo source: Park at Spring Valley / Rent.
Park at Spring Valley is in the desirable Rancho Manor neighborhood, which is near the popular Fremont Street and connects directly to the central freeways of Las Vegas. It offers various layouts, ranging from large 3-bedroom layouts to smaller studio options.
Amenities include tennis courts and two pools, along with a private park for residents—all patrolled for safety.
Photo source: Buena Vida on Palms / Rent.
Located just outside of the main city action, Buena Vida on Palms is in a fairly quiet area, but still within close driving distance from downtown. Residents can choose layouts with one or two bedrooms and have a swimming pool and gated community access.
While Buena Vida on Palms may not have as many luxury amenities, the location paired with the price makes it a solid option for those wanting to live in a relaxed area without being too far from the city buzz.
Photo source: Summerhill Pointe / Rent.
Summerhill Point is in a convenient location right on Saraha Avenue, making it easy to get to other parts of the city when needed. It’s perfect for dog owners with its own gated dog run and no breed restrictions, so whatever type of dog you have is welcome! It’s one of the best apartments in Las Vegas.
These one-, two- and three-bedroom apartments have private patios and additional storage lockers. The property also boasts of three resort-style pools and two spas for taking it easy after a long day.
Photo source: Eagle Trace / Rent.
For those who like being in more secluded areas, Eagle Trace is as far from the city center as you can get, just outside of Nellis Air Force Base. Its one-, two- and three-bedroom apartments are great for any individual or family accommodations.
Eagle Trace is a fitness fan’s paradise, with multiple swimming pools and hot tubs, along with basketball and tennis courts, all lighted for day and evening use.
Photo source: 2one5 / Rent.
2one5 apartments are luxurious and hi-tech. It offers more amenities than most apartments you’ll find, including smart home technology, a sunbathing pool, a fitness center with classes, a dog park with a washing area, electric vehicle charging stations—and the list goes on.
It offers floor plans with up to three bedrooms, all of which have high-end finishings and appliances.
Photo source: Town Villas / Rent.
Family-friendly Town Villas offers two- and three-bedroom floor plans and a safe community for residents. Gated access provides additional safety from the bustling streets of central Las Vegas.
The complex is near hiking and biking trails and a pet park. There’s also a business center for tenants to use and a playground for the younger kids to run around and have fun.
Photo source: Tiffany Place / Rent.
Offering plenty of amenities for an affordable price, Tiffany Place has tanning beds, indoor and outdoor pools, sports courts, an indoor fitness center and a car wash area.
It has one- to three-bedroom units with the option to have an additional garage with storage outside of the apartment for extra belongings.
Photo source: Sonoma Hills / Rent.
Sonoma Hills is in a fantastic location—while it’s not near the center of Las Vegas, it is close to plenty of stores and the base of the mountains and hiking trails. Its one-, two- and three-bedroom apartments have some units with extra storage space in case it’s needed.
Additional benefits are on-site patrol and a list of amenities, like tennis and basketball courts, a pool, a clubhouse and a fitness center.
Photo source: Capri / Rent.
The one-, two- and three-bedroom apartments of Capri offer high-end living. Renovated interiors include a fireplace, stainless steel appliances and large closets. It also boasts a swimming pool, hot tub, tennis courts and a fitness center.
It’s close to McCarran International Airport for those with the travel bug, as well as shopping and plenty of great restaurants.
Photo source: Silver Stream / Rent.
On the edge of the quiet Spring Valley suburb, just east of the Strip is Silver Stream. Here you’ll find updated apartments with high-end stainless steel appliances, large balconies, and amenities such as a business center, pool and fitness studio.
Additionally, There are layouts containing up to three bedrooms and a patrolled parking lot, making it safe for all ages and perfect for all family sizes.
Photo source: Park Arms / Rent.
Within walking distance of the Strip and monorail, you’ll find spacious one-, two- and three-bedroom apartments at Park Arms. For such an exciting and convenient location, the price is far below the state average of $1,709—in fact, it’s less than half, starting at $720.
There’s also a pool and gated access to the complex, leaving it as a safe, relaxing community among the buzz of the Strip.
Photo source: Rosewood Park / Rent.
Rosewood Park is part of a quieter area and offers floorplans for studio, one-, two- and three-bedrooms, all of which have renovated interiors with vinyl flooring and resurfaced countertops.
Along with nearby parks, the complex contains its own basketball courts, pool, hot tub and fitness center. Plus, there’s extra storage on the property for those belongings that don’t fit into your apartment!
Photo source: The 211 / Rent.
The 211 is right at the center of all the city hustle and bustle! In one of the most convenient spots in the middle of downtown Las Vegas, it has a 24-hour gym on the property, an 800-square-foot hot tub and a rooftop patio with views of the city. Plus, you’re also getting a gated entry with controlled access to the building for extra safety.
There are one-, two- and three-bedroom apartments at this exciting complex to accommodate everyone, whether you’re an individual living on your own or a family.
Photo source: Montecito Pointe / Rent.
On the furthest, northwestern corner of the city lie Montecito Pointe apartments, where safety is a top priority. While it’s already in a quiet, safe area, the additional benefits of a gated access and on-site patrol makes Montecito Point one of the safest complexes you’ll find.
Furthermore, these one-, two- and three-bedroom apartments have endless amenities and perks—extra storage space, a pool, fitness center, and access to trails for hiking and biking.
Not close to downtown or many shopping areas, but it’s right off the freeway, so you can quickly hop on and get anywhere in the city.
Photo source: Wyandotte / Rent.
Nestled on the outskirts of the Strip, Wyandotte has large, newly-renovated, affordable apartments with up to 4 bedrooms. For someone interested in the night life and the Arts District, this apartment complex is perfect. Plus, you have a business center, playground and pool at the ready.
Photo source: Viridian / Rent.
Being only minutes away from the Strip, Viridian is a surprisingly affordable apartment community close to all the action and shopping of Las Vegas. With being so close to the Strip, you’ll also get to enjoy the view of the cityscape right from your living room.
Choose between anything from a studio to three-bedroom layouts and enjoy a dip in the pool after playing on one of Viridian’s sports courts—all starting at $685 per unit.
Photo source: Cooper Creek / Rent.
While Copper Creek is further from downtown, it’s in a relatively new part of Las Vegas—much quieter and more mellow. Its oversized closets, high ceilings and other high-end finishings make these luxury apartments appealing to most.
There are additional perks to these one-,two- and three-bedroom apartments, such as a resort-style pool, spa and fitness center.
Photo source: San Michele / Rent.
Settled between up-and-coming North Las Vegas and trendy Summerlin, San Michele is northwest of the downtown area. Being in a quieter area, right by an elementary school, it boasts proximity to both the boutique shops. In Summerlin, there is also exciting nightlife of downtown.
It offers newly renovated one- and two-bedroom apartment layouts with a clubhouse, pool and children’s play area.
Check out the best apartments in Las Vegas
No matter what your preferences are, there are plenty of apartment options in Las Vegas. Whether you’re after luxury living or a great location near the lights of downtown, each apartment community has a unique combination of offerings for every taste. You can find apartments for rent in Las Vegas to match your preferences.
We looked at all available multifamily rental property inventory from January to June 2021 on Rent. to determine which properties with a Las Vegas mailing address are most viewed by organic internet searches. The information included in this article is used for illustrative purposes only. The data contained herein does not constitute financial advice, availability or a pricing guarantee for any apartment.
Are you considering refinancing your mortgage, but hesitant about the high cost of closing? A no-closing-cost refinance may be the solution for you.
In this article, we’ll explain what a no-closing-cost refinance is, how it works, and the benefits and drawbacks of this type of mortgage refinance. We’ll also go over the qualifications and the process of getting a no-closing-cost refinance, so you can decide if it’s the right choice for you.
What is a no-closing-cost refinance?
In short, it’s a mortgage loan that offers homeowners the option to refinance their mortgage without having to pay initial fees to lenders.
Closing costs usually pay for lender fees as well as loan origination fees, third-party expenditures, appraisal fees, and underwriting and processing costs. Refinance lenders also take on costs that originate from third parties, including escrow and title costs.
With a no-closing-cost refinance, you potentially save money on closing costs, lower your monthly payment, and build equity in your home faster.
It’s certainly tempting and may be the right choice for certain types of borrowers. However, those closing costs saved are costs added to the loan amount that you’ll eventually have to pay back.
How does a no-closing-cost refinance work?
The application process for a no-closing-cost refinance is similar to that of a traditional refinance. You’ll need to provide financial information and documentation to the lender, and they will run a credit check. Once the mortgage lender approves your application, the refinance process can begin.
You may be wondering how the lender makes money on a no-closing-cost refinance. The lender recoups their costs by charging a slightly higher interest rate on the loan. This way, they can potentially make more money in the long run, even though you don’t pay any closing costs up front.
Pros and Cons of No Closing Costs
Having no upfront closing costs comes with a range of both advantages and disadvantages. The idea of skipping the closing costs and fees upfront may be appealing, or even right for you.
However, it’s still important to consider the various ways it may affect your financial situation next month, next year, and next decade. Here are some pros and cons:
Pros
Upfront savings: The most immediate benefit of a no-closing-cost refinance is the elimination of substantial upfront fees. This can be particularly advantageous for homeowners who may not have the liquid assets to cover these costs at the time of refinancing. It allows for the conservation of cash that could be used for other pressing financial needs or opportunities.
Simplified financing: This type of refinance simplifies the financial burden for homeowners. It removes the hurdle of saving for and managing large, one-time closing costs. This is especially helpful for those with limited disposable income or those facing unexpected financial challenges.
Quicker break-even point: For homeowners planning to move or refinance again in the short term, a no-closing-cost refinance can be financially advantageous. By not paying closing costs upfront, they can reach a break-even point more quickly, especially if they sell the home or refinance before the added costs accrue significantly.
Cons
Increased long-term cost: While there’s an immediate saving on closing costs, this type of refinance often results in a higher interest rate or a larger loan balance. Over time, this can lead to significantly higher interest payments. Homeowners should carefully consider the long-term financial implications, such as how the increased loan balance or rate will impact the total interest paid over the life of the no-closing-cost loan.
Higher monthly payments: Due to the higher interest rate associated with a no-closing-cost refinance, homeowners might face higher monthly payments. This increase can strain monthly budgets, especially for those who are already managing tight finances.
Reduced home equity: Rolling closing costs into the loan balance can reduce the amount of equity a homeowner has in their property. This is a critical consideration for those who may need to leverage home equity in the future for other financial goals or emergencies.
How to Qualify for a No-Closing-Cost Refinance
When it comes to qualifying for a no-closing-cost refinance, the eligibility requirements are similar to those of a traditional refinance. Your lender will look at your credit score, income, and debt-to-income ratio to determine if you qualify.
To improve your chances of being approved for a no-closing-cost refinance, and potentially lower your monthly payment, it’s a good idea to make sure your credit score is as high as possible. You should also have a solid income and a low debt-to-income ratio, which lenders assess to determine your ability to manage the monthly payment. Additionally, having a good track record of paying your bills on time can also help.
Once you have determined that you are eligible for a no-closing-cost refinance, you need to compare different options to determine which one will be the most cost-effective for you in the long run. Be sure to consider the interest rate, fees, and overall costs of each option before making a decision.
Finding Lenders Offering No Closing Cost Refinance
When considering a no-closing-cost refinance, finding the right lender is a crucial step. Different lenders offer varying terms and rates, so it’s important to conduct thorough research to find the best option for your financial situation. Here’s a guide on how to find and compare lenders for a no-closing-cost refinance:
Start with your current lender: Your existing mortgage lender is a good starting point. They may offer competitive refinance options to retain your business. Ask about their no-closing-cost refinance options and compare these with what you might find elsewhere.
Research online: Many lenders provide details of their refinance products online. Use mortgage comparison websites to gather information on various lenders’ offerings. These platforms often allow you to compare rates, terms, and fees side by side.
Check with local banks and credit unions: Local financial institutions sometimes offer better terms to members or local residents. Visit or call your local banks and credit unions to inquire about their no-closing-cost refinance options.
Consult mortgage brokers: Mortgage brokers have access to various lending sources and can often find deals that may not be widely advertised. They can help you navigate through different offers and identify the most cost-effective option.
Consider online lenders: Online mortgage lenders can be a viable option as they often have lower overhead costs, potentially translating to better terms or lower rates. However, ensure you research their reputation and customer service record.
Understanding the Details of No-Closing-Cost Refinancing
Before you get excited about not paying anything upfront, sit down with your lender to discuss all the details. Be sure to keep an eye out for the following details:
Some loans are not actually “no cost”
Some loans solely cover lender fees, while others may cover all expenses, including third-party costs
Home loans differ from lender to lender, so it’s important to shop around
Lenders may pay different interest rates and costs on your behalf. Find out all the details before you commit.
Consider all the costs: title and appraisal, lender fees, credit report fees, escrow, home inspections, mortgage points and other third-party fees
Is a no-closing-cost refinance right for you?
Deciding on a no-closing-cost refinance requires weighing your immediate financial needs against the long-term effects on your mortgage. This option is attractive for its low initial fees, but understanding its overall impact is essential. For those planning to move or sell their home shortly, saving on upfront costs can offer immediate financial relief. It’s an appealing choice if staying in your current home isn’t part of your long-term plan.
However, a no-closing-cost refinance usually translates to a higher loan amount or increased interest rate, affecting the total cost over time. If you’re several years into your mortgage, like 10 years into a 30-year loan, the added expense from higher interest rates can surpass the benefits of initial savings.
Before deciding, it’s important to calculate how this choice will affect your monthly payment and compare the overall costs with those of a traditional refinance. Shopping around for the best deal is crucial to align this financial decision with your overall goals.
A Closer Look at No-Closing-Cost Mortgage Deals
Now that you understand the positives and negatives of selecting a no-closing-cost refinance, here’s an example of how these loans may play out in a lending setting:
For example, you may be charged $4,500 in closing costs, the average cost for homeowners today. If you choose to pay this out of pocket, the $4,500 cost will remain static as a one-time charge.
On the other hand, if you skip those fees, that sum will be rolled into your mortgage bills each month over the duration of that loan. Over 30 years at 4.125% interest, the borrower will eventually pay a total of $7,851.
Meanwhile, over the course of five years, the borrower will wind up paying $6,000 after initially skipping the $4,500 closing fee.
Whether this is worth it or not is entirely up to you. If you’re planning to sell your home within the next couple of years, the immediate savings may be worth it for you to pay a bit more over two years.
You can take that saved money to invest in repairs, remodels, realtor fees, and other associated costs that accompany selling a home. Moving a home quickly on and off the market can save you other costs that make this type of loan right for you.
How to Spot a Bad No-Closing-Cost Refinance Deal
No-closing-cost loans are each different from one lender to another. By seeking different opinions and home equity options, you can ensure that you’re getting a good deal. Here are a few warning signs to look out for:
The loan is called “no cost” but it turns out you’ll have to pay for appraisals, title fees, escrow, property taxes, insurance, and prepaid interest.
The loan is called a “no lenders fee loan,” which means the bank will only cover just that—lenders fees, and nothing else.
Carrying out a refinance through a mortgage broker, who then adds on a lender credit, further increases your interest rate.
A bank uses “bundles” that tack on closing costs on top of the cost of the loan. These bundles further increase the size of the loan, as well as the interest rate, leading to a higher monthly payment over time.
Be aware of potential red flags and take your time when considering any type of home loan. This is especially true if the terms of the loan are unclear, and you are feeling pressured to make a decision before fully understanding the details of the loan. It’s always better to be cautious and well-informed before making a commitment.
5 Tips for Negotiating No-Closing-Cost Refinances
Negotiating the terms of your no-closing-cost refinance is crucial in securing a favorable deal. Focus on these effective strategies:
Conduct thorough market research: Understand the current market rates and terms from various lenders. This knowledge positions you as an informed borrower, giving you an edge in negotiations.
Leverage your creditworthiness: If you have a strong credit history, use this as a bargaining chip. Lenders may offer better terms to borrowers who present lower credit risks.
Discuss customization options: Each borrower’s situation is unique. Talk to your lender about tailoring the refinance terms to suit your specific financial needs and goals, especially if you plan to stay in your home for a long time or move soon.
Be prepared to walk away: If the terms offered don’t align with your needs, be ready to explore other options. Showing your willingness to consider other lenders can motivate your current lender to offer better terms.
Review the final offer thoroughly: Ensure that all negotiated terms are clearly included in the final offer. A careful review before agreeing can save you from unexpected terms or conditions.
By applying these strategies, you can effectively negotiate and secure a no-closing-cost refinance that aligns with your financial objectives. Remember, your aim in negotiation is not just to lower costs, but to find a deal that supports your overall financial strategy.
Frequently Asked Questions
What are the average closing costs for a refinance?
The average closing costs for a refinance can vary depending on the location, property type, and loan type. Typically, closing costs for a refinance can range from 2% to 5% of the loan amount.
For example, on a $200,000 loan, the closing costs can be anywhere from $4,000 to $10,000. These costs include the loan origination fee, appraisal fee, title search and insurance, and other miscellaneous fees.
Can you negotiate closing costs on a refinance?
Yes, it is possible to negotiate closing costs on a refinance. While some costs, such as the appraisal fee or title search, are set by third-party providers and cannot be negotiated, other costs such as the origination fee or lender’s title insurance can be negotiated with your lender.
Here are a few strategies to negotiate closing costs on a refinance:
Shop around: Compare offers from multiple lenders and negotiate with them to see if they can lower or waive certain fees.
Timing: Closing costs tend to be lower during slow periods for the housing market.
Ask for a credit: Some lenders may offer a credit towards closing costs in exchange for a slightly higher interest rate.
Be prepared to walk away: If a lender is not willing to negotiate closing costs, it may be best to look for another lender that is more willing to work with you.
When would a no-closing-cost refinance be a bad idea?
A no-closing-cost refinance may not be the best idea in certain situations. Here are a few reasons why a no-closing-cost refinance may not be a good idea:
Short-term ownership: If you don’t plan to keep your home for a long time, you may not be in the house long enough to recoup the costs of the refinance.
Not enough equity: If you don’t have enough equity in your home, you may not be able to qualify for a no-closing-cost refinance.
Higher interest rate: If the interest rate is higher than the rate you already have, it typically does not make sense to refinance.
Limited budget: if you’re tight on budget, and the higher interest rate on the no-closing-cost refinance will put you in a difficult financial situation, then it’s not a good idea.
Looking to start your own business? You’re not alone. Some 76% of Gen Z and millennials dream of being their own boss, according to a 2022 Microsoft report.
While launching your own business allows you plenty of professional freedom, it can also be expensive. As you’re creating your business plan, one question you’ll likely face early on is, how much does it cost to start a business?
The average small business owner spends around $40,000 in their first full year. But that amount can vary based on a number of factors, including the size, type and location of your business.
Let’s take a closer look at the startup costs of different types of businesses and common ways to cover the expenses.
Typical Small Business Startup Costs
The old adage is true: You have to spend money to make money. And unfortunately, some of the biggest business costs can come during the startup phase, when you are defining your business goals, finding a location, purchasing domain names, and generally investing in the infrastructure.
In order to make sure your business is on firm financial footing, it’s important to estimate your small business startup costs in advance. Here are some common ones to keep in mind:
Payroll
Many small businesses start out as a company of one. But if you’re planning on having employees, salary will likely be one of the biggest costs you’ll have. After all, offering an attractive pay and benefits package can help you recruit and retain top talent.
In addition to wages, you might also want to budget for other types of payroll costs, such as overtime, vacation pay, bonuses, commissions, and benefits.
Office Space
No matter what your business is, you’ll need somewhere to work. Are you leasing a storefront, or will you buy a membership to a co-working space or startup incubator? If you’re planning to work from home, consider whether your new business will increase your internet or utility bills.
And don’t forget about the supplies you’ll need to do the work. Depending on your business, this could include things like computers, phones, chairs and desks, paper supplies, or filing cabinets. 💡 Quick Tip: Some lenders can release funds as quickly as the same day your loan is approved. SoFi personal loans offer same-day funding for qualified borrowers.
Inventory
If you’re starting a business that sells products, you’ll need to have some inventory ready to go. Calculating stock as part of your start-up costs ensures that you can buy your product in advance, so that you’re ready to serve customers from day one.
Licenses, Permits, and Insurance
Some businesses, especially storefronts and restaurants, require more legal leg work than others.
For example, if you’re starting a native-plants landscaping business, will you need a permit? If you’re starting a new bar, will you need a liquor license? Licenses and permits vary by city and state, but most come with an application fee.
Likewise, your new business may require one or more insurance policies to protect you in case of future litigation, so be sure to factor in the cost of monthly premiums.
And don’t forget about the costs associated with registering your business. Whether you plan to set up shop as a sole proprietorship, corporation, limited liability corporation or other business entity, you’ll need to pay a nominal fee. The amount will depend on the state where you operate.
And if you plan on enlisting the help of a lawyer, accountant or tax professional to get your business up and running, add those potential costs to your budget as well.
Advertising
Getting the word out about your new business is one of the most important things you can do to ensure that business starts off strong. Whether you want to advertise on social media or take out a billboard, your startup costs should reflect money you plan to put toward taking out ads for your business.
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Differences in Startup Costs Based on Industry
The actual cost of starting a small business can vary by business and industry. Here’s what you might be looking at if you want to start a few common types of small businesses.
Online Business Startup Costs
Like brick and mortar stores, the cost of doing business online varies depending on the type of business you have. But in general, you’ll need to budget for things like:
• Web hosting service and domain name
• Web design and optimization
• E-commerce software
• Payment processing
• Content creation and social media
If you’re selling products, you will need to invest in inventory and shipping. If you’re providing services, you may need to hire employees. All of these costs can be significant.
However, one benefit of starting your small business online is that you may be able to keep other costs low. For example, if you can conduct business from home, you may not need to rent office space, which can be a major savings. If you’re able to do the work without purchasing inventory or hiring employees, the startup costs can be even lower.
Average startup cost: $500 to $20,000 or more (depending on your business)
Storefront Startup Costs
If your business idea requires a physical space, your startup costs might range from $1,000 for a small kiosk inside a mall or park to more than $69,000 for something like a home goods store.
Although $69,000 might seem like a daunting number, remember that many smaller, independently owned stores began with a much smaller budget.
Average retail startup cost: $39,210
Restaurant Startup Costs
If you’re betting on bringing in bank by selling your grandma’s famous bánh mì, you could be looking at startup costs of anywhere from $40,000 for a used food truck or cart to up to $3.7 million to buy a franchise restaurant. Typically, small restaurant costs, including coffee shops, fall somewhere in the $80,000 to $3000,000 range.
Average startup cost: $375,000
How to Finance Your Startup Business
Many who want to start a business are overwhelmed by the initial costs, but there are several ways to fund your passion project.
Friends and Family
Perhaps one of the most common ways to raise money for your small business is to ask friends and family to invest in you.
Friends and family loans can be ideal for financing a new small business because you can negotiate low-interest rates, flexible pay-back schedules, and avoid bank fees. Of course, borrowing money from friends and family can quickly become complicated by family drama, so make sure to agree on conditions before taking out a family loan.
Outside Investors
When we hear about startup companies, we frequently hear about so-called “angel investors” sweeping in to fully fund new businesses. But there are other practical ways to fund your small business with outside investors.
Some small businesses use crowdfunding platforms to find investors who each contribute a small amount, and others use startup funding networks to find investors looking to fund their specific type of business. Outside investors want to know that your business is likely to succeed, so you’ll need a solid business plan to land outside funders.
Personal Savings and Investments
Most people end up covering some of their small business start-up costs out of their own pocket. Self-funding your new business venture can be the most convenient option. After all, if you’re your own funder, you don’t have to worry about family drama or picky investors. And putting your own money on the line can be an extra motivation to make sure that your business is set up to succeed.
Of course, it can seem overwhelming to save up enough money to fund your small business. Luckily, there are simple strategies to effectively manage your money.
Business Loans
If you’re looking to purchase equipment, inventory, or pay for other business expenses, a business loan might make sense for you.
There are various types of small business loans available, each with different rates and repayment terms. Note that in some cases, lenders may be reluctant to give loans to a brand-new business. You might need to put up some type of collateral to qualify for funding.
Personal Loans
A personal loan can be used for just about any purpose, which can make it attractive for entrepreneurs who want to turn their passion project into a reality. These loans are usually unsecured, which means they’re not backed by collateral, like a home, car, or bank account balance.
Personal loan amounts vary. However, some lenders offer personal loans for as much as $100,000. Most personal loans have shorter repayment terms, though the length of a loan can vary from a few months to several years.
While there’s a great deal of latitude with how you use the funds, you might need to get your lender’s approval first if you intend on using the money directly for your business. 💡 Quick Tip: Before choosing a personal loan, ask about the lender’s fees: origination, prepayment, late fees, etc. One question can save you many dollars.
The Takeaway
Going into business for yourself can be personally and professionally fulfilling. But it can also be expensive, especially if you’re starting from scratch. Estimating your startup costs early on can help ensure you’re on solid financial ground from the get-go. Labor, office space, and equipment are among the biggest expenses facing many entrepreneurs, but there are smaller fees and charges you’ll likely need to consider.
Fortunately, small business owners have no shortage of options when it comes to covering startup costs. Dipping into personal savings, or asking friends and family to invest are popular choices. Taking out a business loan or personal loan is another way to help finance a new business. The money can be used for a variety of purposes, and that flexibility can be especially useful when you’re just starting out.
Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.
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San Antonio is the second-largest city in Texas by population and the seventh-largest city in the United States. The city has been a popular living option because of its abundant activities, rich history, green spaces and trails and affordability. If you’re planning on moving into the Military city, here are we found the best apartments in San Antonio for you.
Photo source: Tara Apartments / Rent.
This newly-renovated Alamo Heights community contains one- to three-bedroom units starting in the low $800s. Apartments are sleek and modern, featuring quartz countertops and stainless-steel appliances.
Residents enjoy a plethora of community amenities, including basketball and tennis courts, a children’s playground, a swimming pool and on-site laundry facilities. These amenities make it one of best apartments in San Antonio.
Photo source: Pure View at TPC / Rent.
An excellent location and modern style collide at Pure View at TPC. In addition to being minutes from the famous JW Marriott San Antonio Hill Country Resort & Spa, Pure View at TPC offers luxury amenities such as in-unit garden tubs and a resort-style on-site pool.
Residents can enjoy a tanning area, a Starbucks Wi-Fi lounge, game rooms and a fitness center. If you’re concerned about security, you’ll be relieved to know that this complex is also a limited-access gated community.
Photo source: Alamo Park / Rent.
With its convenient proximity to the lively Alamo Heights area of the city, Alamo Park offers a stellar location with the living space you need to live comfortably.
At this apartment, you’ll also find two swimming pools, a dog park, a sand volleyball court and pavilion and barbecue picnic areas for when you want to enjoy the many days of San Antonio sunshine.
Photo source: The Valencia on Four 10 / Rent.
In addition to its stellar location near Loop 410 and Lackland Air Force Base, Valencia on Four 10 provides everything you could need on-site, including a spa, fitness center, hot tub, two swimming pools, tennis court and laundry facilities.
The units range from a 722-square-foot one-bedroom to 1,454-square-foot two-bedroom apartments, so whichever option you choose, you’ll have plenty of space to relax.
Photo source: Vineyard Springs / Rent.
Vineyard Springs offers resident amenities such as valet trash, poolside Wi-Fi, a theatre and putting green, just to mention a few. If you find your wardrobe overflowing these days, the Vineyard also boasts oversized closets.
Even with these amenities, rent prices are very affordable, starting in the low $800s, making it an excellent value.
Photo source: Villa de Valencia / Rent.
Villa de Valencia is conveniently off Interstate 35, which can take you anywhere in the city. This is a bonus and why it makes our best apartments in San Antonio list.
In addition to the on-site children’s playscape, the community is pet-friendly and offers some paid utilities included in the rent total. The community is also currently under renovations, so future residents can look forward to newly-upgraded units.
Photo source: Apartments at Westover Hills / Rent.
With rents starting at $712 a month, the Apartments at Westover Hills offer excellent amenities at a great value. This pet-friendly community boasts a jogging trail, pet park, fitness center and an outdoor cooking area.
Lastly, units range from one to three bedrooms, so there are plenty of options depending on the amount of living space you need.
Photo source: The Place at Houston Street Townhomes / Rent.
The Place at Houston Street is a townhome community with five different floor plans and a long list of community amenities. The community is pet-friendly and close to public parks, giving you plenty to do in the area with your furry friends. There is a playscape for the kids, full-size garages for your vehicle and guest parking for your visitors.
If you enjoy apartment living but crave a little more space, this is a great option.
Photo source: Broad Viewe / Rent.
Starting in the mid-$600s, Broad Viewe is a pet-friendly community featuring in-unit amenities such as built-in bookshelves and butcher-block countertops. Within this community, you’ll also find newly renovated laundry facilities, an inline skating track and a large playground for the kids.
When you’re ready to soak up some sunshine, enjoy one of the two pools or barbecue at one of the picnic areas. The amenities combined with the modest rent prices make it a truly excellent value.
Photo source: Apartments at the Medical Center / Rent.
If you’re looking for an apartment in the heart of the Medical Center, look no further.
The Apartments at the Medical Center range from one- to three-bedroom units with amenities such as granite countertops, a resort-style pool, a clubhouse and tennis courts. Residents also enjoy gated access in this pet-friendly community.
Photo source: Costa Dorada / Rent.
Relax in the hot tub or venture out to the clubhouse as a resident at Costa Dorada. The community is on SE Military Drive, a major roadway close to shopping, food and the historic San Antonio Missions Park.
Plus, the community also features limited-access gates, providing extra security for residents.
Photo source: Stone Oak / Rent.
Luckily, the Stone Oak area is known for its abundant shopping and new development, and the location of the Apartments at Stone Oak allows you to stay right in the middle of all of the action. This luxury complex offers in-unit garden tubs, oversized closets and vaulted ceilings.
Residents can also enjoy on-site tennis courts, a recreation room, a fitness center and a media center, too.
Photo source: Apartments at University Heights / Rent.
Located minutes from Six Flags Fiesta Texas, the Apartments at University Heights are in an excellent location for theme-park enthusiasts.
Even if you don’t feel like venturing out, the community offers resident amenities such as basketball courts, a fitness center, a playground and a swimming pool. In addition to the on-site offerings, the units also feature garden tubs, oversized closets and hardwood floors.
Photo source: The Place at Castle Hills / Rent.
If high ceilings are on your wish list, the Place at Castle Hills features 9-foot ceilings and crown molding. The community offers a greenbelt and walking trail in conjunction with a swimming pool, fitness center and business center for resident use.
Additionally, it’s also close to I-10 and I-410, making the daily commute easier.
Photo source: Ventura Ridge / Rent.
Work-from-home employees will love Ventura Ridge, which features AT&T fiber internet. If you find yourself getting stir crazy during the workday, Ventura Ridge also offers an expansive outdoor area with amenities such as a resort-style pool, a fitness center and a clubhouse with multi-screen televisions for residents to enjoy. All in all, that’s a deal when working remote these days.
In fact, Tthe location provides easy access to I-10 and Loop 1604, so even commuters will find their niche in this modern community. Rents start at a little over $1,000, making luxury affordable.
Photo source: Oak Valley Apartments / Rent.
If you’re looking for a pet-friendly affordable housing option, Oak Valley Apartment Homes are income-restricted units close to I-35.
There is no shortage of amenities. This gated community offers a fitness center, a swimming pool, a business center, a community clubhouse, on-site laundry facilities and a children’s playground.
Photo source: Gateway Residents / Rent.
The Gateway Residences at Port San Antonio is a townhome community with unit options ranging from two to four bedrooms. The community displays large greenspace areas, which pair nicely with pet-friendly policies.
Located just minutes from the hustle and bustle of downtown San Antonio, the location of this community is excellent for those wanting to explore the city with easy access to the amenities that downtown has to offer.
Photo source: Alamo Heights / Rent.
Affordable luxury starts at $833 a month at the Apartments at Alamo Heights. This gated community’s amenities include a hot tub, running and biking trails, a pet park and a fitness center.
Not to mention, the location of this community puts you in the middle of the desirable Alamo Heights neighborhood, which is close to downtown and landmarks like the San Antonio Zoo.
Photo source: The Meadows at Bentley Drive / Rent.
If you’re looking for something on the east side of San Antonio, The Meadows at Bentley Drive is an excellent choice.
Located in the middle of east San Antonio near Randolph Air Force Base, the complex offers a barbecue pit, on-site laundry, a community clubhouse with a full kitchen and a children’s playground.
Photo source: Woodlake Trails / Rent.
The large three- and four-bedroom units at Woodlake Trails balance extra space with an excellent location.
Located 20 minutes from downtown San Antonio, this community offers spacious three- and four-bedroom homes surrounded by trees and greenspace. It also features a pool, a clubhouse and a children’s playscape.
Photo source: Woodlake Villas / Rent.
If cathedral ceilings appeal to you, take a look at Woodlake Villas. This East San Antonio community is newly renovated, with one- and two-bedroom units within driving distance of everything the city offers.
On the other hand, if you prefer to take the bus, the community is close to public transportation options too.
Photo source: The Enclave at Buckhorn Crossing / Rent.
Starting at just $720 a month, The Enclave at Buckhorn Crossing balances value with amenities. One- to three-bedroom units feature built-ins such as book shelving, computer desks and entertainment centers.
The community amenities are great, too. They include a heated spa, a sand volleyball court and a swimming pool with a wading area. This pet-friendly place even has a dog ranch.
Photo source: Village at Roosevelt Apartments / Rent.
In all honesty, if you find yourself wanting to live within a stone’s throw of Downtown, the Village at Roosevelt Apartments is ideal.
This gated community has a playground, a laundry facility and a business center available for residents. It also features bike storage, which is perfect if you intend to hit the various nearby bike trails.
Photo source: Military Village Apartments / Rent.
For those who commute to Lackland Air Force Base, the Military Village Apartments provide an excellent location. This pet-friendly community features upgraded fixtures, wood plank flooring and open kitchens with plenty of counter space.
This community is also close to shopping at Ingram Park Mall and has easy access to Loop 410.
Photo source: Culebra Creek Apartments / Rent.
Located on the west side of the city, Culebra Creek Apartment Homes offer units with one to four bedrooms featuring oversized closets and fully-appointed kitchens. Since this is a modern community, expect bike racks, a covered picnic pavilion, a children’s playground and a swimming pool.
Starting in the mid-$700s, it offers great value combined with spacious units.
The Best Apartments in San Antonio
Finding a great place to live in San Antonio doesn’t need to get complicated. If you’re ready to move, get started and find apartments for rent in San Antonio.
Furthermore, we looked at all available multifamily rental property inventory from January to June 2021 on Rent. to determine which properties with a San Antonio mailing address are most viewed by organic internet searches. The information included in this article is used for illustrative purposes only. The data contained herein does not constitute financial advice, availability, or a pricing guarantee for any apartment.
Whether you’re a first-time homebuyer or a seasoned homeowner, there’s no denying that purchasing a home is a huge financial decision.
You’ll likely have to make a down payment and commit to a monthly mortgage payment for 30 years (unless you decide to sell before then). Even so, the obligation should not be taken lightly.
Just from preparing to buy a home, you know that your credit score is an incredibly important number. It determines your eligibility for a home loan, and also plays a major role in determining your interest rate.
The higher your credit score is, the lower your interest rate will be, which can really affect your monthly payment. Hopefully, yours is in top shape when it’s time to buy. However, it’s also important to consider what happens to your credit score after you actually purchase your home.
You might be surprised to find out that buying a home has both positive and negative impacts on your credit scores. Read on to find out exactly what to expect of your credit score when you get a mortgage. We’ll also teach you how to minimize any potential damage that could occur.
How Applying for a Mortgage Affects Your Credit Score
It’s smart to shop around for interest rates from different lenders when you’re looking for a mortgage. Interest rates can vary greatly depending on the lending company and the type of mortgage loan they offer you. However, it’s essential to employ the proper strategy when comparing those offers.
That’s because each time you apply for new credit, whether it’s a mortgage, auto loan, or credit card, a credit inquiry appears on your report. Your credit score drops anywhere between five and ten points.
Unfortunately, if you have an excessive number of credit inquiries, mortgage lenders may think you’re desperate for cash and be reluctant to lend to you. The dip in your credit score reflects this potential risk.
The Benefits of Mortgage Pre-Approval on Credit
So, how can you mitigate this issue when shopping for a mortgage? First, limit the number of lenders you apply to. You can also ask for a pre-approval to find out what interest rates you’d be eligible for. The difference is that there is not a hard credit check performed. Instead, the mortgage lender only does a soft pull, which doesn’t have any effect at all.
You’ll still have to go through the formal application (and hard credit pull) once you decide on a mortgage loan. However, the preapproval process gives you the opportunity to compare offers without any type of commitment.
Multiple Credit Inquiries for the Same Type of Loan
Another way to protect your credit scores from too many inquiries is to limit your loan search to two weeks. When evaluating your credit history, credit reporting agencies realize that consumers want to shop around for different rates to get the best loan. So, if you have several of the same types of inquiries listed in a two-week span, they’ll only be counted as a single inquiry.
Mark your calendar with the first date of your loan application so you can track how long your search has lasted. This will help you keep your credit scores intact. Plus, you’ll also keep yourself on schedule for getting your mortgage in order.
The Effect of Mortgage Debt on Your Financial Profile
Your credit score could also take a hit because of the amount of mortgage debt you have, especially if this is your first time owning a home. Luckily, there is a good side and a bad side to this.
Let’s start with the negative. Since a home costs so much, your level of debt is going to skyrocket. This is true, especially if you’re a first-time homebuyer or someone who just upgraded to a more expensive home.
Think about it: Say your previous levels of debt included a small credit card balance, a student loan, and a car payment, and that came to about $65,000 in debt. If you buy a $200,000 house, you’re nearly quadrupling your level of debt.
Yes, you were approved for the home loan and can afford the monthly mortgage payments. However, that is still a significant number to be added to your credit reports, and your credit history will reflect this change. It’s not going to plummet by any means, but you will notice a decrease.
How Your Mortgage Affects Debt-to-Income Ratios
Another way your new mortgage can influence your access to credit is through your debt-to-income ratio. This isn’t part of your credit score, but it is part of how future lenders analyze your application for credit. Basically, your DTI is how much monthly debt payments you owe versus how much money you earn each month.
Rent isn’t included in your DTI, but mortgages are. So, the next time you go to apply for a car loan or refinance your mortgage, you’ll have to consider how much overall debt you pay each month compared to your pre-tax earnings.
The Positive Impact of Timely Mortgage Payments on Credit
Now let’s get into the positive effects that buying a home can have on your credit score. The first impact is that your credit mix becomes more varied.
This category actually accounts for 10% of your credit score. Therefore, having an installment loan like a mortgage helps more than just having revolving credit like a credit card. 10% may not seem like a lot, but it can help offset some damage caused by the negative side of purchasing a home.
The most important thing you can do to increase your credit score is to pay all of your bills on time. And having a mortgage is a great way to add positive history to your credit report. That’s because while most creditors report negative payments to the three major credit bureaus, many don’t actually report positive payments. So, you’re penalized for negative behavior, but sadly, not rewarded for good behavior.
Mortgage payments, on the other hand, are regularly reported to each of the three credit bureaus: Equifax, Experian, and TransUnion. And since 35% of your credit score is determined by your payment history, on-time payments each month can make a significant difference.
Strategies to Maintain a Strong Credit Score After Buying a Home
Even after you’ve purchased your home, it’s still essential to keep your credit scores in top shape. You never know when you’ll need credit again, and you’ll want to ensure you have access to the best rates. Even if you’re not planning to use new credit for a car loan or personal loan.
You may want to refinance your mortgage in a few years to get a better interest rate, cash out some equity, or take off your mortgage insurance. To do any of those things, you’ll continue to need a strong credit history. Follow these tips to ensure your credit score stays where you want it to be.
#1: Monitor your credit report annually.
You can get free copies of your credit reports each year from AnnualCreditReport.com. This is helpful in several ways. First, it allows you to check to make sure all of your personal and financial information is listed accurately.
More importantly, however, is that it allows you to detect whether someone has fraudulently opened up any type of credit account in your name. Identity theft is a growing concern. Staying on top of your credit history keeps your identity and your finances safe.
#2: Continue to make your payments on time.
It’s vital to your credit history to make timely payments. Even one 30-day late payment can stay on your credit report for years, causing a major drop in your credit score. And the consequences just get worse as the delinquency ages to 60 and 90 days.
It’s easy to get swept away by all the new excitement and responsibilities that come with a new house. Just be sure to keep up with your other financial obligations during that time.
#3: Keep your debt low.
Since you just added a large new mortgage to your credit report, it’s wise to keep your other debts as low as possible, particularly your credit card balances. Try not to exceed 30% of your available balance on any of your cards. If you do, your credit score is likely to fall. Instead, try to spread out your balances across cards while you work on paying them off.
Buying a house does indeed impact your credit score. However, the impact is not so dramatic that buying a house isn’t worth it. After all, the purpose of the credit score itself is to help prove your creditworthiness to lenders so you can borrow money when the need arises.
As long as you can afford your monthly payments, purchasing a house could very well be a wise investment. It allows you to put down roots while growing equity in your home.
Bottom Line
Purchasing a home is a significant financial milestone that can affect your credit in various ways. While it might initially lower your credit score due to inquiries and increased debt levels, it also offers an opportunity to build and improve your credit over time through regular mortgage payments.
The key is to manage your debt-to-income ratio effectively and to maintain good credit habits. This includes monitoring your credit report, keeping debt levels under control, and ensuring timely payments. By doing so, you can enjoy the benefits of homeownership while nurturing a strong financial standing.
In summary, buying a house is more than acquiring property; it’s a strategic step in building a secure financial future. With thoughtful management, the journey to homeownership can enhance your credit profile and open doors to future financial opportunities.
“This case has now been pending for more than four and a half years, and we’re ready to move forward and towards trial,” he said on the call.
Ethan Glass of Cooley, an attorney for the National Association of Realtors (NAR), took a different view and urged Wood to not set a date just yet, stating that it is “way premature” as the court has yet to even take motions for summary judgment, “let alone decide them.”
Glass also asked if NAR could let the court know in a week or so if the trade group would like the court to extend its Dec. 19, 2023, deadline for submitting things like motions for summary judgment.
“We are still analyzing what the consequences of the [Sitzer/Burnett] jury verdict are,” Glass said.
A final ruling on the Sitzer/Burnett suit is not expected until April or May 2024, however, the plaintiff’s motion for injunctive relief must be filed before Jan. 8, 2024. The three defendants who were present at the trial, NAR, Keller Williams and HomeServices of America, have all vowed to appeal the verdict.
Glass added that NAR is unsure if there may or may not be reasons to extend the deadline, as the trade group and its counsel are still looking into things.
Braun argued that legal issues still playing out in the Sitzer/Burnett suit was not a reason to delay the trial in the Moehrl case.
Surprisingly, this view was supported by Timothy Ray of Holland & Knight, who is representing Keller Williams. Ray stated that he believes there were “serious errors” in the Sitzer/Burnett trial and that that trial should not be held up as a “standard for how we should go forward in Moehrl.” He added that Keller Williams would like to see the “Moehrl case to stand on its own consistent with the law” in its district and circuit.
Wood agreed with Ray’s view, stating: “I don’t think the fact that the other case has proceeded to trial and there are certain legal issues that will be challenged post-trial … affects what I need to do to keep the case moving here. It is a different case with some different issues, some overlapping issues, in a different circuit. So, I tend to agree with Mr. Ray’s point that this case should stand on its own.”
Looking ahead, Wood said she thought setting a trial date as soon as “it’s reasonable to do so makes sense.”
In the meantime, the parties have until Jan. 22, 2024, to submit a joint state report, in which they are to estimate the number of trial days and testimony hours they anticipate needing. Wood also instructed that the parties should take into account that Anywhere and RE/MAX are unlikely to participate in the trial if their settlements receive final court approval.
Filed in 2019, the Moehrl lawsuit, like the other commission lawsuits, take’s aim at NAR’s Participation Rule, which requires listing brokers to make a blanket offer of compensation to buyers’ brokers in order to list a property on the MLS.
The home seller plaintiffs allege that NAR and the corporate brokerage defendants have conspired to artificially inflate agent commissions, increasing the costs shouldered by home sellers. The suit received class-action status in March 2023.