Category Archives: Real Estate

Should You Downsize Your Home To Rightsize Your Life?

by

Should You Downsize Your Home To Rightsize Your Life?

Sometimes downsizing your home may just be the best way of rightsizing your life. If you’re wondering how you could possibly manage to live in a smaller home, let’s put things in perspective….

In the 21st century, most American families live in much larger homes than those enjoyed by previous generations with far larger families. In the 1950s, average houses were about 1,000 square feet. In the 1970s, average houses were about 1,400 square feet. Then, by 2004, average houses were as much as 2,330 square feet. And now, they are about 2,600 square feet.

It’s a lot more space with a lot less people.

Unfortunately, you probably consider even this space too small. Moreover, while not appreciating this doubled space, you’re probably also miserable about paying down the mortgage and taking care of utilities, maintenance, insurance, and taxes.

Worse still, many people have been working more for less money after the financial crisis of 2007.

It’s not a pretty picture.

One simple solution is to downsize your home. Unfortunately, this solution may send you into a panic. After all, you want to make progress in life, not begin getting worse. Only too often, downsizing has a social stigma– it’s often associated with failing in life.

This is actually not an accurate interpretation of what’s going on because sometimes less can be more.

Why Less Is More

Unemployment still remains uncomfortably high. After the financial crisis in 2008, many people were forced to downsize because of a pay cut or job loss.

However, what they discovered was that downsizing their homes made their lives much easier. Some downsized from a big home to a condominium; some downsized from a big home to a small home; and some downsized from owning a home to renting one.

Initially, there was resistance until they ran out of their savings from their previously well-paid work and then ran out of options to borrow money to stay afloat. Then, they didn’t have a choice.

First, there was a sense of grief. However, after a few months into their new lifestyle, they noticed something surprising — they were actually living better.

They were feeling more peaceful, calmer, and less financially overwhelmed. And, they also had to spend a lot less time cleaning and maintaining their new place. Interestingly, too, retired people, whose big families had long since left, realized that their big home had been more of a burden than a joy.

After holding on as long as they could to their old ways, they found that after they sold their homes and moved to a smaller place, it was the best decision that they had ever made.

Two Common Objections

When it comes to moving to a smaller place, what bothers most people are two practical questions: where to put all their stuff and how to endure the hardship of a big move?

Where will I put all my stuff?

The biggest form of resistance when it comes to downsizing is storage. How do you go from a big home to a small one and still have room to move around in it? Where should you put all the things that you’ve gathered over a period of many years?

The best place to put it is on Craigslist, on eBay, and garage sale. Yes, sell it. When you look over your stuff, you’ll find that most of it is something that you don’t use. By uncluttering your home, you will unclutter your mind and heart as well.

I hate moving!

Homeowners hate moving as much as grade-schoolers hate extra homework. Generally speaking, people have been traumatized by moving over the course of their lives. Moving is not only psychologically draining, but also physically taxing. If you’re not in great shape or have a busy life, the idea of packing and moving can appear overwhelming.

Fortunately, moving is neither as expensive nor as physically exhausting as most people think. You don’t need a pickup and lots of friends to move. In fact, a moving company can do all the heavy lifting for you and take care of all the transportation costs at very reasonable rates. In addition to moving services, sites like www.mayflower.com also provide tools and tips for facilitating a smooth move.

Should You Downsize?

Here, then, are four good reasons to consider downsizing:

  • You will probably reduce your mortgage payment by as much as $500 a month.
  • You will probably reduce your overall debt by no longer spending your money to own and maintain a large home.
  • You will probably significantly contribute to your retirement fund.
  • You will probably pay off your new mortgage faster.

In short, you will throw off the burden of worry and stress that you probably now have if expenses exceed income.

Chase

Five Reasons Moving Just Might be the Change You Need

by

Today I’m going to list five reasons moving just might be the change you need!

Imagine living in a world where nothing ever changed…everything remained just as it was the day before. While this might be interesting for a little while, over time, it would become very boring to say the least. Change is good and a very necessary part of life. As you navigate through life’s peaks and valleys, embracing the changes as they happen is often what makes life worth living. Moving to a new place is often a very scary notion when you first think about it, but it can really end up being just the change you need to jump-start your life in the right direction. Here’s how:

1.  A Clean Slate

Now by clean slate, I don’t mean that you’ve wrought havoc in your old town and need to create a new identity elsewhere. Of course, when you’re moving to a new location, you may find it refreshing to be the new kid on the block. You now have the advantage of starting over. Meeting new friends, exploring new things, and reinventing yourself for the better. Sometimes when we stay in our comfort zone for too long, it makes changing seem like a challenge instead of a much needed life experience.

Tip to a New You: As you begin reinventing yourself, remember to stay true to who you really are. Don’t get so caught up in making others like the “new you” that you forget about who you are at the core. You’re not running for Mayor, so getting everyone’s vote isn’t necessary.

2.  New Experiences

The cool thing about relocating is that you get to experience new things. No one city or town is like the other. You can broaden your horizons by exploring your new destination. Eat different types of cuisine, find different events to get into, and become absorbed by new ways of life and culture. It’s through new experiences that self-development and growth can continue.

Experience Tip: Don’t be afraid to get out and try new things. You don’t have to learn everything at once. Maybe go to a restaurant one day and to a local museum the next. Though you’re a resident of the town now, you can treat it as if you’re a tourist getting to explore the world unknown.

3.  New Relationships

Sure, it’s important to keep those close relationships with your friends. Your friends are the people who get you the most. They’ve seen you at your best and at your worst. However, relocating gives you the opportunity to build an even stronger network of friends and associates. Branching out and meeting others can do wonders for you personally. You get to cultivate new experiences, gain support from others, and find other like-minded individuals out there for you to grow closer and stronger with. In some cases, these new relationships could turn into new career opportunities that you may not have otherwise received.

New Relationships Tip: It can be hard to get into the social scene when you’re new to an area. Check social media postings or online advertisements for local events happening in the area. If you’re really bold and daring, you could also host something at your new place and invite the neighbors over.

4.  Saves You Money

Probably weren’t expecting to see this on the list of benefits to moving, but in many cases, it can save you a great deal of cash. Many of us try to “keep up with the joneses” living in homes that we really can’t afford. Relocating can help save you a great deal of money in many ways, including:

·  Cheaper gas

·  Cheaper transportation costs

·  Affordable housing costs

·  Lower property taxes

·  Better housing condition (if you previously left a home that was worn down and inefficient, moving to a more updated and efficient home can save you money in the long run)

Money Saving Moving Tip: If you’re going to try a moving company for a long distance move, be sure that you get several estimates to determine which company offers the best services at the best rate.

So you see, moving doesn’t have to be a bad occasion unless you allow it to be. (Not to mention the fact that you could be saving yourself some much needed cash.)Sure you’ll miss what’s comfortable to you, but change is necessary and often a very fun thing to experience. Embrace your new location with open arms, be true to yourself, socialize, and have fun.

Hope you enjoyed this,

Chase

Real Estate Search – Marble Restoration Edition

by

Lately, I’ve been pretty busy!

So what am I doing that is dominating my time?  2 words… Real Estate!

I’m both looking for a slightly bigger house and/or a decent piece of rental property to purchase.

So why is this called the “Marble Restoration” Edition?  Well basically I found a pretty decent house, but the marble bathrooms (and in particular the showers) in the larger house has some aged but still pretty marble areas.  While the house in general looks amazing, the granite has a somewhat shoddy looks and needs restored or replaced.

I’ll look around to see if I can do it myself via some third party that specialized in that kind of work, or perhaps see what I can do with respect to repairing it, or at least making it look a little better.

I have a buddy that always tries to do finishing work in his house, but everybody can tell that it’s just not quite right…  Sometimes finishing work is best left to those folks that are more qualified to do such work.  If the project were something that I feel comfortable in doing myself, such as washing machine repair or some similar DIY project where I can have multiple tries at fixing it, and without worry of damaging the product, then I say go for it!  But with granite, it’s an one attempt only product and I’d rather let those with the proper experience and skills tackle.

While I may not buy the house that I’m talking about (it’s a bit expensive), the marble restoration described above will be something I keep in my notes, just in case I do decided to buy a house with beautiful granite that needs fixed.

Thanks

Chase

Slow Sale Zone Concerns

by

Do you Live in a Slow Sale Zone?

When buying a property, there are many factors that will influence your decision. Potential buyers may consider whether the property in question will increase in value over time, but there are many more questions to ask before making a commitment. The area itself can have an effect on the speed at which your property sells, so if you are struggling to sell a home, this could perhaps be the reason. Do you live in a slow sale zone?

School Catchment Area

There are many factors that contribute to your area being a slow sale zone and one of these is not living in a school catchment area. If you do not live near a grammar school, you could find that families or young couples may not be very interested in viewing your property. Being based near a reputable school is one of the main factors that influence a property buyer who has small children, and if the school they have their heart set on is too far away, this will lower your chances of making a sale. This may mean that you don’t get as many viewings as you had hoped for, but you can turn this around by making your home more appealing to students and professionals.

Crime Hotspot

If you live in an area that has a high crime rate, this could mean that you are looking at a slow sale. If your home has a higher than average crime rate, this will be a red flag for many potential buyers and it could prolong the sale process. The best way to put buyers’ minds at rest and increase the chances of a sale is to kit out your home with high quality security solutions. An alarm system, security gates and CCTV can make your home instantly more appealing and set your home apart from the other properties that are for sale in your area.

Nightmare Neighbors

It’s not just the area that can put potential buyers off purchasing your home.  The people that live nearby can also put doubts in buyers’ minds. Problem neighbors can drive down the value of your home and it is your responsibility as a seller to inform potential buyers of any disputes that have occurred. For example, if you have had disputes over land, it is essential that you put potential buyers in the picture as this directly affects the property in question. Nightmare neighbors needn’t ruin your chances of selling your property fast.