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Downsizing When Resizing
Considering downsizing in retirement? Here’s why it might be the smart move:
- Lower bills
- Reduced upkeep
- Potential windfall from selling your current home
Don’t overlook your home equity!
It could be a significant source of wealth in retirement. Use it wisely to find a home that better fits your needs today. Your real estate agent can guide you through the process.
Ask yourself these questions, then connect with us for personalized advice:
Are my current housing needs still in line with what I originally bought?
Could a smaller space better suit my lifestyle now? How much could I save by downsizing?
Supra Box!
Secure your home showings with a Supra lockbox!
No more worries about unauthorized access.
Plus, it provides detailed tracking for every entry, giving you peace of mind. Ready to ensure the safety of your property?
Connect with us to learn more!
Weed Hacks
Ready to tackle those pesky weeds?
Here’s a pro tip: always spray or pour with the sun at your back.
As the soil warms up, weeds start popping up everywhere, but with this hack, you’ll spot them all.
Don’t let weeds ruin your garden game! For more tips, contact us!
The Benefits of Downsizing When You Retire
If you’re taking a look at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home.
When you think about cutting down on your spending, odds are you think of frequent purchases, like groceries and other goods. But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares:
“A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall that comes from selling your larger home and buying something smaller.”
That windfall is thanks to your home equity. If you’ve been in your house for a while, odds are you’ve built up a considerable amount of equity. And that equity is something you can use to help you buy a home that better fits your needs today. Daniel Hunt, CFA at Morgan Stanley, explains:
“Home equity can be a significant source of wealth for retirees, often representing a large portion of their net worth. . . . Retirement planning can be complex, but your home equity shouldn’t be overlooked.”
And when you’re ready to use that equity to fuel your next move, your real estate agent will be your guide through every step of the process. That includes setting the right price for your current house when you sell, finding the home that best fits your evolving needs, and understanding what you can afford at today’s mortgage rate.
What This Means for You
If you’re thinking about downsizing, ask yourself these questions:
- Do the original reasons I bought my current house still stand, or have my needs changed since then?
- Do I really need and want the space I have right now, or could somewhere smaller be a better fit?
- What are my housing expenses right now, and how much do I want to try to save by downsizing?
Then, meet with a real estate agent to get an answer to this one: What are my options in the market right now? A local real estate agent can walk you through how much equity you have in your house and how it positions you to win when you downsize.
Bottom Line
Want to save money in retirement? Consider downsizing – it could really help you out. When you’re ready, let’s connect about your goals in the housing market this year. Message us @SHEA PREFERRED REALTY GROUP
Follow My Listing Prep Checklist
1. Cleaning Police
Dust and wipe down every surface, corner, hidden nook, blind and fan. Invest in a steam cleaner. The before and after may shock you but, from personal experience, the satisfaction is unparalleled.
2. De-Cluttering Dynamo
Bulky furniture or too many personal items can make a home appear smaller than it really is. Consider temporarily renting a storage unit for any excess belongings.
3. Handyman Hero
Tighten the leaky faucet, fix the squeaky door hinge, and paint the spot on the ceiling. The fewer issues a buyer can spot, the more appealing your home will be.
4. Exterior Achiever
Crisp and clean windows, a manicured lawn, fresh mulch, and a few pops of seasonal flowers go a long way for our first impression!
5. Staging Magician
Staging has been shown to increase a home’s sale price by 1-5% and decrease the time it spends on the market. (Say less!) We’ll hire the pros for this and watch their magic unfold before our eyes.
The Spring Market is a Sweet Spot Today if You’re Looking to Sell
Some Highlights
- Wondering if now’s a good time to sell your house? Based on how many homes are on the market, there are two big reasons why this spring is looking so good for sellers.
- Thanks to an uptick in inventory over last year, you’ve got more options for your next home. But there are still fewer homes for sale than there’d normally be, meaning your house should stand out and get a lot of attention from buyers.
- If you want to sell your house, this spring is the sweet spot. When you’re ready, let’s chat to get the ball rolling.
FROM GOOD TO GREAT LISTING
Besides the obvious things…
Like killer photos & videos, staging and pricing your home right, there are a few *little things* that I’ve seen take a listing from good to great. In real estate, it’s the small tweaks that can make the biggest impact. Here are a few →
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Home Prep Walkthrough
During this time, we’ll cover your home from top to bottom. I’ll make suggestions for impactful adjustments I’d like to see before we go live with the listing. This could look like repairing a leaky faucet, removing window treatments, or changing from cool to warmer lightbulbs.
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De-personalize
Sellers have the most success when their home is a clean slate. Less is more here! Stow away any personal items, pet toys, mail & documents. Pretend you are seeing your own house for the first time.
- Showing ready
Your listing is live and it’s show time! I’ll provide you with a showing checklist to create a welcoming atmosphere for guests. Closing toilet seats, opening blinds to bring in natural light, sweeping off the front porch, cleaning windows – all little tweaks that will elevate your space!
Ready to discuss listing your home? Contact us now @ SHEA PREFERRED REALTY GROUP
Protect Your Legacy
Did you know that owning Real Estate in your name can lead to probate nightmares? Don’t leave your family burdened.
1. Secure your future
Putting your home in a trust is simpler than you think. Reach out to your trusted tax advisor or legal counsel to guide you through this important process.
Need professional advice? Contact us @ Shea Preferred Realty Group
Estate Planning | Put your Home in a Trust
It’s crucial to protect your real estate assets for your loved ones’ peace of mind.
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Don’t leave your home vulnerable to probate. Put it in a trust today!
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Need guidance on setting up a trust for your property?
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Reach out to your trusted tax advisor or legal counsel for expert advice.
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If you’re seeking a referral, our team is here to help. Secure your family’s future with the right estate planning.
