For any number of reasons, more people than ever are downsizing these days. Whether it's reduction in income, reduction in family size, or just a desire for easier living, smaller homes are becoming more attractive.
There are challenges associated with downsizing, but experience has taught some valuable lessons that you may find useful. Once you've decided to sell, start the moving process immediately. Your home will even show better once you've begun packing things away. As you decide what to keep, consider donating unwanted items or holding a yard sale.
Solicit family members for help, and see how many belongings might be passed along to family and friends. After all, they say that charity begins at home, right?
You can also "digitize" paper records with a scanner, saving them on your computer, or using an online storage service for an added layer of security. Just be sure electronic versions of certain records are legally acceptable.
If you're still left with a lot of furniture and accessories, you should strongly consider including such items in the listing for your home. First-time buyers may be particularly attracted to such an offering, saving them time and money on furnishing their home, and expediting the entire transaction.
These tips may help you downsize, but of course, any move presents its challenges. Speak with an experienced professional today for more advice.
Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson
For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.
Real estate professionals are very often faced with a question from buyers that has nothing to do with houses: "What are the best schools in the area to which we’re moving?" When you relocate, the most important thing you'll be moving is your child, and you want to be certain you are making the right choice for education.
One excellent resource for beginning your research is SchoolMatters.com, an online database of public schools. Begin with statistics that illustrate students' achievement levels in each school. Compare reports for all students, including minorities and children in low-income families. Schools in which all students perform well are providing balanced educational opportunities.
Also pay attention to extra-curricular activities offered, particularly if your child is interested in sports and other pursuits outside the classroom. The School Matters database offers ratings and reviews directly from the parents, so you can learn from those with experience.
One thing you can't determine online, however, is the actual classroom environment, so you should absolutely schedule a visit to one or more schools in the area before making your decision. Meet with the principal and watch the manner in which teachers and students interact.
Once you have an understanding of the distinctions between schools, your choice will become clear. You wouldn't buy the first home you see, and "shopping" for a school is no different!
Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson
For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at msinton@assist2sell.com or on the web at www.WeSellCentralNJ.com.
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For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.
Your real estate agent may not write your home loan, but that's who will probably be there when you begin discussing mortgage options. Knowing some of the nuts and bolts before you start your home search can help you find the right loan.
Factors affecting your terms are the amount, the length of the loan, and the loan-to-value ratio (how much of the home's value you are financing). Larger loans carry more risk to the lender, so the interest rate may be higher.
Similarly, a smaller down payment represents more risk, possibly warranting a higher interest rate. Get the best rate by putting down as close to 20% as possible.
The difference between a 15- and 30-year loan is also critical. Payments for a shorter term will be larger, but you'll build equity much faster, and enjoy a slightly lower interest rate.
Also understand the workings of an adjustable rate mortgage (ARM). You need to be fully prepared for what may happen to your payments after the first adjustment. However, something like a 5/1 ARM (a fixed rate for five years and an adjustment each year thereafter), could be a good idea if you're buying your first home and don't plan to stay longer than five years.
Discuss your hopes and objectives with an agent, who can help guide you down the road to homeownership.
Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson
For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.
There is a special mindset associated with "staging" your home to sell in a soft market. Staging refers simply to the act of improving your home's appearance in order to appeal to the widest segment of potential buyers. The approach you must adopt is to see your home with an objective eye.
Stop looking at your home as your "home," and start visualizing it as the "product" it becomes when it enters the market. Both a real estate agent and a professional home stager can help to market your product successfully by highlighting positive features and downplaying less attractive aspects.
Since you may have a strong emotional attachment to your home, you may not fully appreciate hearing about a better way to show your offering, but try to recognize that the way you decorate to SELL may be quite different from the way you decorate to dwell. The appearance of a space often trumps its functionality when impressing buyers.
Your goal is to sell quickly at a fair price. A survey by a large national real estate brokerage showed that staged homes sell in half the time, and another survey of REALTORS® showed that a $500 “staging” investment recouped 343% of that cost. So be prepared to swallow a little pride, move some furniture, and field better offers on the road to your successful sale.
Michael Sinton, CRB, CRS, e-Pro
Broker/Salesperson
For more information, contact Michael Sinton, CRB, CRS, e-Pro, Broker/Salesperson, Assist-2-Sell, America's leading discount real estate company, directly at 732-364-7434, via email at MSinton@Assist2Sell.com or on the web at http://www.WeSellCentralNJ.com.
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