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How to Get a Better Price for Your Home When Selling

7/28/2021

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It’s an ideal time to sell, especially if you have a place lined up to move. But, like anyone who has lived in one home for a few years, your home needs to have its “best foot” forward, and you need to know what will help you in the confusing marketplace. What’s the best way to get a better price for your house, when you’re ready to sell?

Work With an Agent

Using an expert for an expert job is always a great idea and using an experienced real estate agent to sell your home is no different. According to Maximum Exposure Real Estate, a good agent knows how to help your home be presented properly. They can even help with staging and photography. They tend to have contacts with those who need to buy quickly, and who are buying for the best prices for you, as well. It doesn’t save money when you sell on your own, because of the extra work and coordination, and also because of the additional buyers who only look at agency homes.

Fix Issues

There are no homes which, after decades of family life, don’t have any repairs or changes which need to be made before sale! Your agent will help by contacting an inspector who can look at your home from top to bottom. According to J Bixler Inspections, it’s best to be present for an inspection so you can take notes on any issues they find. You want to be able to find excellent contractors who can help you to make any necessary repairs.

Understand Local Trends

It’s a hot market right now, and you want to be able to make the most profit possible on your home. This means following and understanding what local trends are doing. A swing of five percent doesn’t sound like much, but when you’re talking about hundreds of thousands of dollars, it could mean tens of thousands lost if the house is not priced, staged, and sold properly. According to Homelight, it’s important to know if your market is rising or falling, of course, and whether you should press for sale now or wait for better offers.

If you’re going to sell your investment, the best option you have is to do so with your eyes wide open. Make sure to get specialized advice to make sure you know about the local marketing trends with homes. Pretty soon you’ll be ready for all of the opportunities around you.

Read this next: What Is the Outlook for Millennial Retirement?

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How Home Equity Can Be a Valuable Tool in Retirement

7/22/2021

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If you are like most people, you probably are looking forward to your eventual retirement, but you may be a little worried about making sure things are paid for. Having a good idea of how you will take care of your needs during retirement is essential to good planning. One thing you should be sure to keep in mind is the way you can use your home equity in retirement to help make it even better.

Downsize and Invest the Rest

If you have paid off your home and are looking to move smoothly into retirement, one option is to downsize your home. By selling your home and purchasing a smaller home, you can use left-over equity to create a strong investment portfolio. That way you have less home to take care of and have investments that can continue earning you money for the future. As you look for a new home to downsize in, it is worth considering the ways you hope to live as you are retired and choose a new home that best fits your needs.

Fund Home Improvements

When you’re retired, you will probably spend more time at home than you did when you were working, so your home must suit your needs. You can use your equity to make necessary home improvements that will make your home even more usable and amazing. Making changes like investing in solar power can also help you to save money each month. In many states, solar panels are exempt from property taxes. That means you can improve your home’s efficiency without increasing your taxes.

A Reverse Mortgage

For some retired adults, a reverse mortgage can help them to use their equity for income while in retirement. This method is not a good choice if you want to leave your children with home equity, but if that isn’t a concern it can be a great way to add more to your retirement. Essentially you will be slowly paid out for your home while you continue living in it as a way to continue making money throughout retirement.

Your home can help you to get even more out of retirement if you know how to use it appropriately. That way, you can spend your retirement doing the things you have been looking forward to instead of worrying about getting your bills paid. Your retirement should be a comfortable time where you are in control of your future.

Read this next: How to Pay for Healthcare Costs in Retirement

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    Author

    My name is Dan Hopwood and I first started my career in the insurance business back in 1988.  2023 will be the start of my 35th year in the business. 

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