Author: drew

Reviewer:  Aaron Creighton | March 23, 2019 

Buying a mattress has changed completely and that’s a good thing– today you can get the best sleep of your life for a fraction of the cost.

 

Mattress Shopping Overview

I bought a cheap mattress 7 years ago from a mattress store in my neighborhood. For $400 I got a hard, springy mattress and a box spring. It was terrible, but I got used to it. I only recently realized how uncomfortable I had been. When I started looking for a new bed, I realized that buying a mattress has completely changed since the last time I purchased. Nobody goes down the street to buy their mattress anymore, they buy beds online because it’s easy, risk-free (meaning that you’re never stuck with a mattress that isn’t comfortable) and the beds are AMAZINGLY comfortable.

How to Tell if Your Mattress Needs Replacing

I’m a stomach sleeper so I prefer to sleep on hard or at least generally firm surface. So a hard mattress isn’t a problem for me generally, but when I started feeling individual springs, I new it was time for a new bed. Here are the questions I had to HONESTLY answer for myself:

Did I have energy in the morning?

Did I fall asleep quickly and deeply?

Was I waking up with shoulder or back pain?

Were my allergies getting worse?

I answered all of these questions with a big “Yes”, so I knew it was time to start shopping for a new bed.

Where to Start

Here’s the big question, and you’ll need to be honest with yourself again. Can you really see yourself buying a mattress online? The hurdle most people face is buying a mattress that they haven’t been able to test drive, which is perfectly understandable. If you’re on the fence, here are a few reasons you should consider buying your next mattress online.

Fortune Favors the Bold: Why Buy a Mattress Online

Low Risk

Most people think that they’re stuck with the first mattress they try, but this is totally untrue. Most reputable online mattress retailers (and all of the mattresses we reviewed) have a generous return policy for their products, and some are good for up to a year.

Also, consumers have spoken, over 90% of people who buy a mattress online are satisfied with their purchase, which is actually higher than the satisfaction rate of people who shop in stores. Only 87% of people who buy their mattresses in stores are ultimately satisfied with their purchase. What does that mean? It means that shopping for mattresses online is here to stay.

Low Cost

The rent for that mattress store down the street is expensive. So are the salaries of their sales teams. When mattress makers can avoid these expenses and sell directly to you through an online store, everybody wins. You can get a better bed for less by shopping online. To sum it up, your dollar goes further when you shop for a bed online.

More Options

Materials in bed mattress construction have improved dramatically over the last few years. Where once the only mattress-in-a-box was made of memory foam (think Temperpedic), a wave of new companies have sprung up and have been designing incredible beds with other materials that can improve the sleep experience even if you hate memory foam beds and prefer bouncy springs. These materials include latex foams, variable density memory foams, variations on the traditional spring mattress, and countless combinations of all the above.

Foam mattresses were once the only good options for people who slept on their side or on their back, while everyone else complained about their limbs falling asleep overnight. This is a problem that has been solved, and choosing the right materials and brand can ensure that everyone gets the best night’s sleep of their life for a fraction of the cost.

Know How You Sleep (And Other Uses for Your Bed)

The first thing you need to determine is how you and your partner sleep. This is perhaps the biggest consideration you’ll need to make in picking your mattress. Sleep face down? Sleep upside down? Sleep in every possible position throughout the course of an average night? That’s totally fine, there’s an online mattress that will not only work for you, but quickly become the best purchase decision of your life. Your job is to figure out your needs and this guide will help get you into the right bed.

In addition to sleep, we use our mattress for um… other things. Subtle enough? If not I’ll get more specific. Many people find that a traditional memory foam mattress do not provide enough bounce for people who use their mattress for sex, while others prefer to sink into their mattress and enjoy the fact that their mattress is quieter and less bouncy. If you prefer a bouncier bed during sex, consider a latex foam mattress. These are generally firmer, but also have a springier feel than memory foam.

Here’s a breakdown of the different materials and how they match with sleep styles. 

Sleep on your side? Consider a spring or hybrid mattress.

Sleep on your back? Try a mattress with more support, like memory foam or latex. These tend to be firmer.

Sleep on your stomach? Try a firmer mattress, I prefer latex but a firmer memory foam is good too, as long as you don’t sink in too much. Heavier sleepers may prefer a hybrid or spring mattress.

Change positions frequently? A mattress that minimizes motion transfer like memory foam or latex would be a good fit for you and your partner.

Online Mattress Types and Materials

When you buy a mattress online, you’ll run into different makes and materials that include:

Foam. Today’s foam mattresses are a lot different from your traditional memory foam. Most materials now offer special cooling and comfort features to reduce heat and those extreme body indents characteristic of older foams. Foam ranges in densities, but if you’re heavier or sleep on your stomach, you may prefer a denser foam.

Hybrid. A hybrid mattress typically comprises a combination of foam layers and even coils to offer the best of all worlds.

Latex. Latex mattresses are similar to foam, but have some very beneficial qualities. First, they’re bouncier and don’t sink in the way a traditional memory foam mattress would. Also, they are more environmentally friendly than many other types of foam because latex is a natural material.

Spring. Spring mattresses are considered the “traditional” mattress type and contain metal coils sandwiched in between layers of other materials added for comfort. There are some great online options for spring mattresses with innovative materials.

Pros and Cons of Different Materials:

Foam

Reduces motion transfer

Contours to your body

Can retain heat and “sleep hot”

Hybrid

Provides the benefits of both foam and coils

Can be a solid choice for a wide range of sleep positions

Typically on the pricey side

Latex

Environmentally responsible materials and process

Durable

Can be on the firm side

Spring

Can be very supportive

Tends to stay cool

Uneven support across different areas of your body

Noisy

Transfer motion from one side to the other

Safe Buying

Know your must-haves. What’s the most important feature for you — is it staying within a budget? How about comfort or durability? Know what you absolutely can’t sacrifice, then mold your decision around these answers.

Compare shipping and return policies. Trial periods vary by brand, so learn how long you have to sleep on your mattress before giving it the green light. Shipping costs also vary, especially if you live in Alaska, Hawaii or Canada.

Get in touch with support. How quickly did you get help? Were reps able to answer your questions? Were they friendly? Answers can really matter down the road if you need help, want to make a warranty claim or require a return.

Where to go from here

We’ve done the heavy lifting by rating some of the best options available. Check out our top picks and reviews of our favorites for every type of sleeper. Do your research, pull in customer reviews, consumer reports, everything! Being comfortable with the company is the first step towards being comfortable on a new bed.

Final Thoughts.

It’s a great time to be alive. And an even better time to be asleep. Online mattress shopping has dramatically improved the lives of millions of Americans by reducing mattress costs, improving sleep with better informed sleep science, and removing the hassle of dealing with mattress stores and salespeople.

By:  Stacey Christiansen | March 13, 2019

Anyone tired of paying rent should consider renting-to-own as a path to home ownership. Would renting to own work for you?

Rent-To-Own Overview

Renting to own agreements are becoming more popular as home prices rise and ownership becomes more difficult.

These properties can benefit some people, but there are also scams that you need to be wary of.

View rent-to-own listings near you.

How rent to own works

Rent-to-own arrangements are difficult to explain simply, but they are very similar to a lease. The biggest difference is that rent-to-own agreements contain “option-to-buy” clauses that outline the terms of your purchase of the home when the lease ends.

After you sign, you’ll pay a certain premium on top of your monthly rent. The extra money is saved for your down payment, generally in some form of escrow account.

Browse MyRentToOwn listings.

Things to look out for:

• Obligation-to-buy: These might give you a better deal, but it’s also a considerable risk to you if there’s a chance you won’t be able to make your down payment or qualify for a mortgage at the end of your lease term.
• Falling prices: If your home’s value rises during your lease term, the price you agreed upon up front will seem like a steal. But if the prices fall, you’ll be locked into a bad deal.

Should you rent to own?

If you’re having a hard time saving for a down payment, or if credit issues are holding you back, a rent-to-own arrangement may help you reach your home ownership goals, and possibly get you there sooner.

If you’re not sure if you can qualify for a mortgage by the end of your lease term, you should stay away from rent to own. There’s too great of a risk that you’ll lose the premiums you’ve saved for the down payment.

However, if you’re confident in the price of the home rising over the next few years, or are willing to put in sweat equity to raise the value yourself, you may benefit from locking in a lower price for the home.

Check out rent-to-own properties near you.

Beware of Scams

There are many scams that seek to take advantage of people trying to buy their first home, the tips below can help you avoid them.

• Beware of below-market-value deals. Rent-t0-own opportunities involve paying additional premiums on top of monthly rent, so anything below market is suspicious.
• Check the house out carefully. Use an inspector and make sure that the home’s mortgage is paid and the property taxes are up-to-date.
• Like any other online scams, never give your information away prior to seeing the house and meeting the seller. Also, never give anyone any deposits or down payments before meeting them.
• Have an attorney look over any documents provided by whoever you’re working with.

Final Thoughts

Renting-to-own can be a great path to ownership, but it comes with it’s own set of opportunities and risks different from what most renters or home buyers face. Consider your unique situation before browsing rent-to-own listings in your neighborhood.

Written by:  Stacey Christiansen | March 13, 2019

Refinancing could save you thousands. Learn when to make a smart refinance decision and when to stick with your current loan.

Editor Update 3/23/2019: Fed signals rate drop – great news for those who missed out on low rates in 2017 and 2018.

Refinancing Overview

Refinancing your home means shopping for a new loan with better terms than the loan you already have. If and when you’re approved for the new loan, your old loan will be paid off completely, and your future payments will be made to your new lender.

Refinancing a mortgage can potentially save a home owner thousands on a home loan, but it’s not always that simple. Interest rates, closing costs, how long you plan to stay in your home, and why you’d like to refinance are all important considerations that we’ll discuss below before listing our top refinancing partner picks for 2019.

Five Reasons to Consider Refinancing

1. Lower Your Monthly Payment

If current interest rates are lower than the rate you are paying on your mortgage, refinancing could lower your monthly payment. For example, if you have $150,000 remaining on your mortgage at 7% for 30 years, your monthly payment (principal and interest) would be around $998. But, if you refinanced to a 5% loan for 30 years, you would pay $808 and save nearly $100 per month over the course of your loan.

However, there are closing costs involved with a new loan. So be sure to factor those into the your equation. If it costs $1000 to finance the loan above, it would only make sense to refinance if you plan on staying in your home for more than 11 months, because 10 months of saving nearly $100 per month would pay off the closing costs involved with setting up the new loan.

2. Switch to a Short-term Loan

It might also make sense to switch from a 30 year to a 15 year mortgage. This would substantially lower most interest rates, thought the payment would likely be higher.

3. Change from an Adjustable-rate to a Fixed-rate Mortgage

Adjustable-rate mortgages (ARMs) are great for minimizing your monthly mortgage payment in the early years of owning a home. But when interest rates start to rise, so do the monthly payments on an ARM. To avoid the increasing payments, you can switch to a fixed-rate mortgage. While the monthly payments on a fixed-rate mortgage may initially be higher than the payment on your ARM, you will have peace of mind knowing your payment will remain the same, even if interest rates continue to rise.

4. Change from a Fixed-rate to an Adjustable-rate Mortgage

Sometimes it makes sense to switch from a 30-year loan to a one with a shorter term. For example, if you know you will be selling your house in the next few years, switching to an adjustable-rate mortgage could lower your rate and your monthly payment until you sell your house. Another example is when short-term rates are lower than long-term rates, and refinancing into an ARM would save you money at least during the fixed-rate period.

5. Take Cash Out of Your Home Equity

When you have equity in your home, cash out refinancing allows you to turn that equity into cash. There are several providers of cash out refinancing that our team recommends.

Is Now the Right Time?

Many finance specialists will tell you that refinancing makes sense if the interest rate drops by .5%. But that’s not necessarily true for everyone. If your closing costs are high, or you plan on moving sometime soon before you can recoup the closing costs, you may need to wait for a bigger drop in the interest rate, or a deal with lower closing costs, before refinancing makes good financial sense.

If you need cash now for one or more of the following reasons, you may consider a home equity loan or a cash out refinance.

✓ Making home improvements

✓ Purchasing an investment property

✓ Paying for a child’s education

✓ Paying off credit cards, medical bills or other higher interest debt

Check out our guide to home equity loans to get quick access to cash for major purchases or expensive debt payments.

How to Shop

You’ll need to make sure you have your financial life in order. Have the following information on hand and begin collecting quotes and additional information.

1. Check your Credit

Read our guide to credit score management or skip right to checking your credit score, because the higher your score the better the rate you will get.

2. Understand your Current Loan

Make sure you have a complete understanding of your current loan: terms, payoff amounts, equity, interest rate, etc.

3. Get Free Quotes and Information

Collect quotes from reputable lenders. If you don’t have any in mind, our readers have used the following tools to get connected with credible lenders.