CLOSE
The only online publication for women in Greater Cincinnati
Authors Posts by Cincy Chic Staff

Cincy Chic Staff

76 POSTS 0 COMMENTS

by -
Dress codes as a whole have relaxed since the pandemic, and much of it has to do with re-accommodating staff that may have been working from home for the past two years. As stated by University of Maryland Professor, Jie Zhang, relaxed dress codes make the transition back to the office easier and serve as an incentive for those who may have become accustomed to the comfort of telecommuting. While many industries still have strict suit-and-tie or jacket-and-skirt dress codes (such as the legal and financial sectors), others have embraced fashion choices that look smart but don’t necessarily conform to past standards.
 
Comfort and Style Are Not Mutually Exclusive
 
Comfort is the order of the day in fashion, whether you’re talking about underwear or office wear. These industries actually have more in common than you may think. For instance, trending underwear is softer and stretchier than in the past. Shapewear is effective yet far more comfortable than traditional girdles and corsets used to be, and push-up bras now have comfortable gel inlays instead of hard metal underwires. The same goes for casual business clothing items, many of which are made with materials like spandex, elastic waistbands, and relaxed styles. In creative industries (including journalism, graphic design, and fashion design), employees are styling themselves in boldly patterned tights, vividly-hued eyeglasses, and creative nail designs, feeling freer to wear outfits that lift their mood and express who they are.
 
Double Standards
 
Despite the relaxation in dress codes in many industries, statistics show that women are still expected to ‘look the part’ if they want to rise in their careers and earn a higher salary. The persistent wage gap is still very much alive in the US, and it is accentuated when race, age, industry, and other factors are considered. As pointed out by In These Times’ Mindy Isser, women also have to battle against the ‘grooming gap’. Women who purchase the right clothes and invest in hair and makeup are more likely to earn higher salaries. Men may also have grooming and fashion standards to adhere to, but these tend to be simpler. Just one example lies in the cost of haircuts for men, which is much lower than for women. Moreover, men (sans those who do invest in beauty) save thousands on skincare and makeup during their lifetime. Women also take more time to get themselves ready, with many taking almost an hour to do their hair and makeup before the workday starts.
 
Battling Discrimination
 
A recent UK study has shown that 53% of plus-size workers have felt left out of their work teams owing to their weight. The issue affects women more than men. Some 38% of women said their weight worked to destroy their confidence, compared to only 26% of men. Clearly, updated diversity and inclusion policies still need to take pervasive ‘fatphobia’ into account. People of all body sizes need to feel safer at work and feel like they are on level playing fields.
 
In Search of Authenticity
 
One trend that is making life a little easier for women is the search for authentic self-expression. Actors like Kate Winslet have argued that women should be allowed to look their age. The British actress emphasized that she did wish to use filters or excessive makeup in the series, Mare of Easttown, and many influencers and celebrities have followed her lead. Entrepreneurs like Lizzo and models like Ashley Graham have posed bare-faced on Instagram and on numerous campaigns, with both arguing for more inclusive, body-positive attitudes in fashion and daily life. The zeitgeist has undoubtedly embraced this concept, with many women feeling more comfortable about attending work in clothing that respects professional standards but while also expressing their personal sense of style.
 
Dress codes have been relaxed over the past two years in many industries. Of course, for some sectors, business suits, elegant tops, and tailored pants and suits are still the order of the day. Although the gender gap still exists, influencers are pushing for more inclusive environments where women can feel free to be comfortable and authentic, without losing an iota of professionalism.

by -
It may be a surprise, but many retailers are eschewing digital in favor of old-school marketing this Christmas. As CNBC highlights, ongoing privacy changes in the Apple sphere, and controversy over Facebook’s data practices, have led many businesses to question the value they can derive from digital marketing campaigns. This is an unexpected turn from businesses, but not one that’s necessarily a bad thing. As market forces have shown, there is a definite space for traditional marketing – and it can have huge benefits for businesses while saving money along the way.
 
Bespoke experiences
 
One of the classic ways in which physical marketing is directed is through flyers and leaflets. When done tastefully, in small runs, they can help to inform people of ongoing events and sales in a way that sticks long in the memory. Businesses can get flyers designed with thought-provoking branding, with a high print quality, that can be recognized as cultural works in their own right, and retained instead of thrown into the recycling bin. This idea, of an artistic presence, is very important. As Forbes highlights, one of the main benefits of physical marketing is the ability to create small, and bespoke marketing moments. This is a crucial concept in modern marketing. In the post-consumer era, customers want to feel a real connection to the company and its products – a physical presence and connection can really help to create that.
 
Looking at the cars
 
The vehicle is still America’s favorite medium. According to the World Economic Forum, just 10% of Americans use other forms of vehicle to commute to work. As such, the average American will see hundreds, perhaps thousands, of vehicles pass every single day. That’s a massive marketing opportunity. Livery on a car, or a simple bit of branding that doesn’t mean the entire vehicle (work or home) is encompassed, can be a wonderful way to promote a business. The same goes for billboards; even a small billboard can have huge reach if placed at the most appropriate places within the road network.
 
Here to stay
 
Digital marketing and social media marketing has obviously been on the ascent for a number of years now, but it hasn’t been able to shift the spend of traditional marketing. As Search Engine Journal highlights, there is a general decline in traditional spending, but only by 0.2% per year. Significant value can be found from radio, TV, print and livery, that produces a solid foundation to operate behind the medium of digital advertising. This can also help to ensure that customers are attracted from across the demographic spectrum, providing valuable new sources of sales.
 
Traditional marketing declines a little each year, perhaps, but its decline has slowed. There’s a serious move from companies to tone down their digital efforts and start renewing a focus on those methods, such is the demand from a traditional market. Focusing on physical marketing, TV, radio and print, and generally looking for a more relaxed marketing mix is the key.

by -
Balancing their home and professional lives can be challenging for women, given that they are still primarily responsible for maintaining the home. Surveys show that nearly 80% of mothers are still primarily responsible for doing housework, while 66% in partnered relationships are responsible for taking care of children. For women of Cincinnati, who make up 35.4% of the city’s self-employed workers and own 28.5% of the city’s incorporated businesses, this holds especially true.
 
As such, it is important especially for working women to expertly manage their time. If time management still proves to be difficult with the number of tasks you have to handle, one way to get a breather is to outsource help. Here are some reasons as to why outsourcing some aspects of home administration benefits both your business and your home life.
 
More Time for Family
 
Housework, as mundane and repetitive it can get, is still time consuming. A survey of 2,000 Americans revealed that on average, Americans spend 23 hours and 36 minutes on cleaning and housework per month. That might not seem like much when you look at the grand scale of things, but when you consider working or running your own business, every minute counts. Those 23 hours and 36 minutes could have been spent with your family instead.
 
This is why outsourcing some elements of home administration can be of great help. For example, hiring professionals to do basic cleaning and maintenance can help you significantly cut down the time that you spend on chores. The free time that you gain can go to having quality time with your kids or bonding with your significant other.
 
Professional Checks for Peace of Mind
 
Home administration goes far beyond regular cleaning. There are aspects of your home that may seem okay at surface level, but do require a regular check-up as well to keep them functioning properly. These aspects can include routine checks of your circuit breakers and overall electrical system, regular cleaning of your plumbing, and the maintenance of your HVAC systems. Routine checks for these aspects of your home can ensure that your living space is in good condition and that there are no safety hazards for your family.
 
Hiring professionals to do routine checks of your electrical wirings, plumbing, and HVAC system not only ensures that your home and its various aspects are in good working condition, doing so also makes your house safe and comfortable for you and your family. For example, a dirty HVAC system affects the purity of your home air, which in turn can worsen asthma or allergies. This is why the American College of Allergy, Asthma, & Immunology strongly recommends having your HVAC systems cleaned every three months.
 
Sanitation Means Safety
 
Finally, no matter how much you regularly sweep your floors or wipe every visible surface in your home, it is still possible that your home is not thoroughly or correctly sanitized. As a matter of fact, a poll conducted by the American Cleaning Institute shows that while 8 in 10 Americans are confident in the cleaning products that they use, 4 out of 10 Americans are not using these products properly. As such, even if cleaning products are regularly used in your home, you might still end up with germs or bacteria that can harm your and your family’s health.
 
Outsourcing this aspect of home administration can ensure that your family’s health is not compromised. After all, professionals are trained to be thorough when it comes to cleaning and sanitizing your home, which means that they also disinfect the parts of your house that may often be missed during your regular cleaning. In turn, you can breathe easy, assured that your home is a safe haven for your entire family.
 
Having a well-maintained home can be challenging, more so for people who also run their own businesses. However, bear in mind that you are not exactly alone in doing so. Outsourcing some aspects of home administration ensures that you can run your business efficiently while still having enough time for your family.

by -
With its robust economy and strong commerce participation, the city of Cincinnati presents a steady launch pad for the flight of fledging entrepreneurial spirits. A recent economic forecast survey by business leaders in the greater metropolitan area, found an impressive 62% responded as very to extremely confident of a 2022 increase in personal company activity and revenue. Panelist David Wallace, chairman and CEO of Erlanger-based Heritage Bank, praised the relative stability of the Greater Cincinnati economy in his missive to budding entrepreneurs, advising they should be “willing to take some risks.” Here’s three top investment paths for regional entrepreneurs looking for a high-yield year.
 
Taking Stock
 
Stock markets are hotbeds of risk and reward, and can offer Cincinnati entrepreneurs the greatest capital appreciation potential, especially over the long-term. They also require some learning for beginner navigation. Benzinga.com, which launched in 2010 as a media and data technology website providing timely and actionable capital markets information, is a start-up success story, with current monthly subscription figures cited as between 15 and 25 million. The fee-based platform, relied upon by seasoned Wall Street traders, is a worthy business expense for burgeoning venture capitalists. Users can check out a Benzinga Pro review prior to subscription, by engaging with its free two-week trial period. Another option is to enroll in one of the many online investing courses. The University of Cincinnati offers its instructor-led 72 hour Stock Trading Suite course on regular rotation throughout the year, as well as providing shorter course options. The Stock Trading Suite covers all the basic tools required for success in market investing.
 
The Home of High Return
 
Steady increases in home values, as well as dwindling inventories due to high population growth and migration, have transformed Cincinnati into a city of renters, with tenancy arrangements covering almost 60% of households. The stats equal boon-time for entrepreneurial property investors, with real estate portfolios looking set to return healthy profits for years to come. For the savvy investor, education, as always, is key, and recently held local events assist with region-specific guidance and tools for newcomers to the property market. The ongoing imbalance between supply and demand, means that while it’s certainly profitable to own real estate in the city it’s also relatively expensive to buy into the market. As the region has an average housing price that’s around 33% lower than the national average, this could favor entrepreneurs relocating to the area from higher cost areas of the country, and those with larger available capital.
 
Crypto City Mania
 
A more than two-fold increase in the number of crypto ATMs emerging across the city in the past year, hints at the number of Cincinnatians purchasing, mining, and investing in crypto. However, regulatory uncertainty within the disruptive, fast-changing, and fertile, landscape of cryptocurrency, recommends a prudent engagement with what’s happening on the national level. Cincinnati entrepreneurs, who last year banded together to form the city’s second crypto fund, are strongly recommended to look to Washington regulators for behavioral advice when investing in cryptocurrencies and blockchain technologies. With the appropriate level of technological insight and law-making oversight, the city’s entrepreneurs can use 2022 to cash in on the crypto wave.
 
New entrepreneurs should make smart money moves in order to increase their business portfolio. Finance your future ideas with these three avenues of investment, and bravely embrace that uncertain zone where expansion can occur.

by -

Have you been wondering which home upgrades are worthwhile? Everyone wants to avoid pouring money into projects that don’t boost property value or add significantly to the comfort or visual appeal of a home. So, how can owners decide what kinds of projects to take on and which ones to ignore? In nearly every case, a wise first step is to pay for one or more inspections.

A licensed professional can tell you what needs to be done and what your priorities should be. After that, it’s up to you to pick and choose among projects like bathroom renovations, interior and exterior painting, decks, pools, and other enhancements. When it comes to paying for any project, small or large, owners can do themselves a favor by getting an accurate price estimate and arranging for financing first.

It’s good to go into a project knowing that it has already been paid for. Not only do you get the peace of mind in knowing that you have expenses covered, but you are more able to focus on the job itself. This is true whether you’re putting on a new roof, fixing up the kitchen, adding an in-home office, or adding a new coat of paint. Here are the details, along with a few suggestions for getting underway.

Pay for Professional Inspections

Contractors usually offer low fee inspections for things like plumbing, electrical systems, HVAC, foundations, insulation, roofs, and more. Don’t skimp on paying for needed inspections. In many cases, hiring a pro is the only way you can know for sure if you need a new roof, air duct cleaning, or wiring repairs.

Pay First, Improve Later

Every homeowner knows that it’s critical to get a project financed ahead of time. No one wants to risk the nightmare of running out of money in the middle of a renovation job. Not only is the mess hard to deal with, but you’re left to wait until you can come up with the rest of the money before finishing the job. Fortunately, just about any homeowner can cover all the expenses associated with upgrades by working with a private lender and taking out a personal loan. Not only are rates competitive, but you’ll gain access to lenient terms and realistic repayment periods. Borrowing for home-related projects makes good financial sense all around.

Bathrooms and Paint Jobs

Bathrooms are a favorite renovation project for many homeowners because they can do most of the work themselves, costs are reasonable, and a complete re-do usually takes less than a month. Painting is another category where DIY skills come in handy, and you likely won’t need to hire a professional contractor. Browsing the various bathroom trends can help you pick a direction in terms of your style and décor. Some owners discover that it’s wise to hire a pro to do the outside work and tackle the indoor painting as a DIY job.

Decks, Pools, and Other Outdoor Luxuries

Swimming pools, backyard decks, hot tubs, barbecue pits, and other outdoor amenities can add beauty, function, fun, and value to any property. Get several estimates from local contractors before deciding which projects to tackle first. For example, barbecue pits, decks, and above-ground hot tubs make excellent DIY tasks.

by -

Cincinnati Chamber’s WE Lead program assists women in getting to the next level of their careers.

Clarissa Doggett, Senior Operational Leader under Medical Operations at Cincinnati Children’s Hospital Medical Center, felt like her career was at a standstill before she participated in WE Lead.

“I felt like I was experiencing a plateau in both my professional and personal life, therefore I was seeking something that would challenge me, but most importantly help me identify why I’m currently in a plateau,” says Doggett. 

WE Lead is a 10-month executive leadership development experience from the Cincinnati USA Regional Chamber for high-potential, goal-oriented women actively preparing for the next level of their career. 

WE Lead brings together high-achieving, professional women from a variety of backgrounds to learn from one another and creating a strong, supportive network. Through a combination of professional development and executive coaching, participants learn leadership skills and strategies unique to their personal and professional development.

The Leadership Center’s WE Lead program is different from other leadership development programs offered by chambers throughout the region because it offers several opportunities for participants to improve and gain new ideas throughout its 10-month course, where other programs only offer small nuggets of opportunity and guidance at one-time events. 

Clarissa Doggett, Senior Operational Leader under Medical Operations at Cincinnati Children’s Hospital Medical Center

“I was so focused on trying to improve professionally I did not realize that this program would allow me to dig deeper personally as well. It definitely assisted me with trying to find a healthy balance between professional and personal,” says Doggett. 

During the month of March, the Chamber kicked off the opening of WE Lead applications for Class 16 and celebrated International Women’s History Month by honoring WE Lead alumni and women in the region who have become incredible leaders and role models. WE Lead alumni shared their experiences and highlighted the women in their lives who have inspired, encouraged, or empowered them along their leadership journeys. Check out #WELeadCincy to hear how WE Lead has impacted our alumni and the meaningful relationships they built.

When asked about what she enjoyed most about the program, Doggett says it was the chance to look inward and focus on herself for a change.

“I appreciate simply being comfortable to bring my authentic self in every discussion without feeling judged. As women, I think it’s hard for us to be vulnerable because we want to always strive to be strong, and in general we tend to struggle with finding a sense of belonging, particularly when it comes to leading. I didn’t imagine that this program would also help me identify personal things in my life that were inadvertently feeding into this ‘plateau’ state I was experiencing. It has allowed me to think deeper, reflect on things I value the most and identify what actually motivates me to be great,” she says.

“If you are looking to be comfortable with being uncomfortable and growing professionally and personally while connecting with other amazing women leaders throughout our region, I would highly encourage you to apply for this amazing program,” adds Doggett. 

“We hear time and time again that women are so appreciative of WE Lead as it pushes them to enhance their leadership and provides an opportunity to develop life-long relationships with an incredible network of women who will help them advance locally,” says Vice President of the Leadership Center Amy Thompson.

There have been more than 600 graduates of the WE Lead program through the Leadership Center at the Cincinnati Chamber. You can see a list of previous graduates by clicking here. 

There is a competitive process to participate in WE Lead, including an application and references. Applications for the upcoming WE Lead program are open now and will close on May 21, 2021. Click here to apply.

 

by -

You might love the idea of remodeling your house, but you might not know where to get started. The good news is that you are not alone. Many people start the process without knowing what to expect but doing so can lead to mishaps. That’s why understanding a bit more about the process can help you avoid unforeseen issues or expenses to simplify the process as much as possible. 

Planning the Process

If you plan on doing a major home renovation, you’ll want to think about how you’ll cover the cost. You’ll want to try to lower your monthly expenses while you save up for the remodeling project. One way of doing so is to refinance your student loan into a new one with the help of a private lender to get personal finances in order going forward.

One way of saving money is to talk to several contractors and then compare their prices. Different contractors have varying ways of getting things done, so you will want to understand each process before deciding. Otherwise, you might end up paying too much or not getting things done the way you want to. Make sure you do your research and get several opinions, especially for a big project. 

Using a Key Lockbox

If you do not live in the house you are remodeling, it might be a good idea to consider using a key lockbox. That is especially true if you do not live in the area. If you have several projects that are impossible to do by yourself, using a contractor is the best way to go. They often like to begin the project early in the morning, so they should be able to let themselves into your home. 

Otherwise, you might have to fight the morning rush hour to get there on time. Plus, allowing the contracts to let themselves in can save you quite a bit of fuel and time. If you don’t like the idea of a lockbox, you can also use smart hardware on the door and give the contractor a code.

Spending Time in the Area

It is best to avoid deciding on things like paint or lighting at first. Instead, spend a bit of time in that area and think about what you like. For instance, if you know you don’t like the flooring, consider what would work in that space and look nice. There are many types of flooring available, and you also have a range of colors to pick from.

The same is true of picking paint colors. You need to place samples of the paint on your walls to understand how the colors work together. And you might find that after updating the floor and paint, the light fixtures do not work as well as you had thought. Spend a bit of time thinking about everything will work together in the end. That way, you will not have to start over in your design later on. Of course, you may still find your ideas change along the way, but you can always make small tweaks to your design.

by -

WE Lead prepares professional women for the next step in their careers—and lives.

WE Lead is a 10-month executive leadership development experience from the Cincinnati USA Regional Chamber for high-potential, goal-oriented women actively preparing for the next level of their career. 

WE Lead brings together high-achieving, professional women from a variety of backgrounds to learn from one another and creating a strong, supportive network. Through a combination of professional development and executive coaching, participants learn leadership skills and strategies unique to their personal and professional development.

Clarissa Doggett, Senior Operational Leader under Medical Operations at Cincinnati Children’s Hospital Medical Center, is a participant of WE Lead who says she joined the program to help her determine her next steps professionally but found that the program was also personally beneficial.

“I felt like I was experiencing a plateau in both my professional and personal life, therefore I was seeking something that would challenge me, but most importantly help me identify why I’m currently in a plateau,” says Doggett. “I was so focused on trying to improve professionally I did not realize that this program would allow me to dig deeper personally as well. It definitely assisted me with trying to find a healthy balance between professional and personal.”

During the month of March, the Chamber kicked off the opening of WE Lead applications for Class 16 and celebrated International Women’s History Month by honoring WE Lead alumni and women in the region who have become incredible leaders and role models. WE Lead alumni shared their experiences and highlighted the women in their lives who have inspired, encouraged, or empowered them along their leadership journeys. Check out #WELeadCincy to hear how WE Lead has impacted our alumni and the meaningful relationships they built.

Clarissa Doggett, Senior Operational Leader under Medical Operations at Cincinnati Children’s Hospital Medical Center

The Leadership Center’s WE Lead program is different from other leadership development programs offered by chambers throughout the region because it offers several opportunities for participants to improve and gain new ideas throughout its 10-month course, where other programs only offer small nuggets of opportunity and guidance at one-time events. 

When asked about what she enjoyed most about the program, Doggett says it was the chance to look inward and focus on herself for a change.

“I appreciate simply being comfortable to bring my authentic self in every discussion without feeling judged. As women, I think it’s hard for us to be vulnerable because we want to always strive to be strong, and in general we tend to struggle with finding a sense of belonging, particularly when it comes to leading. I didn’t imagine that this program would also help me identify personal things in my life that were inadvertently feeding into this ‘plateau’ state I was experiencing. It has allowed me to think deeper, reflect on things I value the most and identify what actually motivates me to be great,” she says.

“If you are looking to be comfortable with being uncomfortable and growing professionally and personally while connecting with other amazing women leaders throughout our region, I would highly encourage you to apply for this amazing program,” adds Doggett. 

“We hear time and time again that women are so appreciative of WE Lead as it pushes them to enhance their leadership and provides an opportunity to develop life-long relationships with an incredible network of women who will help them advance locally,” says Vice President of the Leadership Center Amy Thompson.

There have been more than 600 graduates of the WE Lead program through the Leadership Center at the Cincinnati Chamber. You can see a list of previous graduates by clicking here. 

There is a competitive process to participate in WE Lead, including an application and references. Applications for the upcoming WE Lead program are open now and will close on May 21, 2021. Click here to apply.

by -
Around 300,000 jobs are outsourced by the United States annually. Whether you already have a beauty business or you’re considering jumping into the industry, outsourcing to virtual assistants can be a great way to get help with those tedious administration tasks, such as appointment scheduling or other business operations like social media maintenance. Aside from simply getting the job done on time, here are just three benefits that outsourcing can bring your business.
 
Lower costs
 
One of the main benefits that comes along with outsourcing work is that it can save your company money in several ways, including in labor costs. If you’re just starting out as a beauty business, this can be particularly beneficial in allowing you to stick to a budget. For example, if you need new product design labels or a revamped website design, outsourcing the work to independent virtual assistants who specialize in graphic design can be a cost efficient way to get the work done professionally. And, because outsourcing means you’ll be contracting out the work as needed, you won’t have to worry about hiring, training, and permanently adding a full-time employee to the payroll, thus saving you money in the grand scheme of things. 
 
An international (and remote) talent pool
 
Outsourcing work also allows your beauty business the unique opportunity to accept applicants from around the world, meaning that you’ll likely have a large pool of qualified people to choose from, as opposed to limiting yourself to local candidates. As a result, a growing beauty business can enjoy the benefits of having a diverse and talented team, who can aid in getting work done both quickly and efficiently, whether it be social media management, customer support, or content creation for your website.
 
If you’re outsourcing to multiple people, managing a remote team can be quite difficult, but it’s not impossible. One way to achieve maximum engagement and motivation within the team is through clear and consistent communication, which can be done through everyday business tasks like holding meetings. For example, always giving your team meeting goals and pre-meeting context ahead of time will aid in increasing efficiency for vital team meetings, thus ensuring that everything goes as smoothly as possible while retaining maximum productivity.
 
Improving overall business productivity
 
As a business, outsourcing work when you need to is a sure way to increase productivity levels. This is because outsourcing can provide aid in tough situations, such as when you experience an increase in workload and your employees already have their plates full. For example, a beauty business with an increase in sales around the holidays or a new product launch/restock could need to outsource work like remote customer service tasks, or help in maintaining a consistent flow of content to the website’s blog or social media. As a result, outsourcing is able to take major pressure and stress off of your regular employees, and allow them to focus on their own workload without having to worry about taking on extra hours. Not only can this prevent overworking your employees, but it can ensure they’re satisfied working for your business, which will ultimately lead to higher rates of retention in the long run.
 
As a business owner, outsourcing is a powerful tool that can be of great help. From lowering labor costs to increasing productivity, outsourcing work is a great way to take pressure and stress off of your regular employees, while ensuring that the work gets done by qualified professionals.

by -

Between COVID and low interest rates, more unwed couples are buying houses than ever. Our mortgage expert shares a few tips to keep in mind if buying before nuptials.

In previous generations, buying a home was a life milestone that often came after a couple married and combined households. But with interest rates at near-record lows, and COVID precautions delaying weddings, more couples are buying homes before marriage than ever. So, we tapped the expertise of Cincinnati-based Ron Erdmann at Guaranteed Rate for some advice when saying “I do” to a home first.

Erdmann says calling a mortgage professional is often the first step, but he suggests contacting a financial planner and real estate attorney too. “It just helps to take a look at your whole financial picture to plan things out,” he says, “and an attorney will help define all the details that are sometimes more inherent for married couples.”

Erdmann says these are the three main questions unmarried couples should consider when buying a house.

1. Who’s Applying for the Mortgage?

Buying a house together is a big commitment. So, even before searching for a home, Erdmann says you should contact an experienced mortgage professional to compare options and get pre-approved. “I always encourage both to apply together so we can determine if it’s best to buy in both of their names or just one of their names,” he says. “The more I know, the more I understand how to best set up the purchase.” 

2. What Type of Ownership is Best?

When you buy a house with your partner, you must decide how you will own the property, or “take title.” Erdmann says you should consult with an experienced real estate attorney to decide what’s best for you, but generally speaking, there are three basic choices:

• one person holds title as sole owner

• both of you hold title as “joint tenants,” or

• both of you hold title as “tenants in common.”

“The partner with the stronger financials and credit score may want to purchase the home to get better mortgage terms and interest rates,” Erdmann says. “But both names can be on the deed even if one didn’t sign the mortgage, provided the lender agrees. What’s on the deed doesn’t have to match what’s on the mortgage.”

3. Get a Cohabitation Property Agreement?

When couples live together, married or not, they will most likely accumulate equity. Unlike married couples, though, unmarried couples may not have the same property protections. So, they can create a cohabitation property agreement to outline who owns what, and what will happen in the event the couple chooses to separate or if a partner passes away. “It’s completely optional and not at all common,” Erdmann says, “but an attorney can look at your unique situation and tell you if they’d recommend it to be safe.”

While it’s far from romantic, Erdmann says, talking through these basics of home buying and gathering the appropriate paperwork for a mortgage application is a good starting point for examining whether or not a home purchase is right for your relationship, married or not.

To learn more about Ron Erdmann, NMLS 728342, Branch Manager and SVP of Mortgage Lending at Guaranteed Rate, visit https://www.rate.com/loan-expert/ronerdmann. You can also contact him via email at ron.erdmann@rate.com or call (513) 609-4484. 

123...8Next Page 1 of 8
16,423FansLike
5,923FollowersFollow
8,475FollowersFollow
270SubscribersSubscribe
© 2007-2022 My Dime Publishing Group, LLC.
ATL privacy policy
X