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June
21

Selling Your Home in Retirement - Haring Realty

Are you tired of mowing lawns and cleaning gutters? If you're approaching retirement, you may be one of the millions of Americans that are looking for ways to simplify their lives by selling the family home and moving to a townhouse or condominium. But is this the right time to make a move? Our REALTORS® will be happy to help you assess your personal situation to help you make that decision. 

  • Seller's Market
    Property values have skyrocketed, and many homeowners are amazed at the prices commanded by homes similar to theirs. But change is hard, especially if you have lived in the same home for many years. Surely the trend will remain for quite some time, won't it? Experts would say "no." While houses may not lose a lot of value in the near future, optimal conditions for sale will decrease. At this time, inventories are low, generating bidding wars, which elevate selling prices. In the near future, approximately $13.5 trillion in additional properties will also come to market, altering the current trends.

  • Advantages of Downsizing
    The home that was large enough for the seller's family is generally too big after the kids leave home. Exchanging a large property to a smaller home that is maintenance-free offers more than just additional leisure time. Taking the profits from the large house and applying them to a smaller place can mean paying down debt, buying new furniture, and still living without a mortgage. Condominiums and active adult communities geared toward seniors can provide a rich social life, convenient amenities, and a quieter environment.

  • Timing is Everything
    Expecting their home to take some time to sell, many homeowners are unprepared for a quick move. It's a good idea to look at some of the beautiful Mansfield or Ashland homes for sale and initiate a purchase prior to listing your home. Instead of putting all of your belongings in storage and then moving them again a month later, you may be able to move directly from one property to another. Staging the home for sale is much easier when you have already removed the majority of your personal items. Then when your current home closes, you can apply the profits to the new property, eliminating the mortgage. 
  • DIY Upgrades
    By carefully planning the timing of purchasing a new home and listing your current house, you may find that you can do a lot of minor upgrades to the property yourself. Taking care of the painting, patching and minor repairs can mean adding thousands to the sale price without spending a lot of money. The key word in this scenario is "minor." If you're only going to remain in the house for a short time, major overhauls will probably not pay a very large return on investment.

  • Minimizing Risks
    Selling the house that has been home for decades is intimidating, if not almost overwhelming. But the greater risk is waiting so long that the market turns. As younger adults have finally reached the point of being able to buy their own home, and while the interest rates are low, the time to sell is now. Financial experts disagree on the future of the American economy, but you can eliminate your concerns by realizing the increase in your property values now. 

The good news is that you don't have to face the intricacies of buying and selling by yourself. Our agents are poised to help you sell your existing home and find the perfect place to enjoy your retirement. Contact us to discuss your plans and let us help you put them into action.

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