Are you thinking of downsizing or simplifying your home? It is tough to ignore the urge to downsize or simplify your living situation once it hits you – most commonly felt in newly retired people, empty nesters, or truthfully it seems to be happening these last couple years at rapid fire speeds all across Alberta for different financially driven / economy related reasons.
This change in one’s life should be worth celebrating regardless of the cause and finding the bright side within… It’s time to think about you again, and not your mortgage! Maybe it’s time to go on a vacation and find your hobbies again – fill up your social calendar with a portion of the money you will be saving. Lifestyle design is more important that huge house and granite countertops!
Is it time to downsize or to move into another home more suitable for your lifestyle? Here are some tell tale signs:
1. You want to go on more vacations!
2. Your current home is too large for your lifestyle. Rather than close off the extra rooms or rent out the excess space, you may opt to move to a smaller home or low maintenance condo.
3. You are retired and your income is lower than it was during your prime working years. You may want or need to sell your current home and move to one with a smaller mortgage payment or less upkeep. Maybe you could live more comfortably in a lower cost-of-living area.
4. If you have built up a good amount of equity in your house, selling it could give you more to put towards a more active and enjoyable lifestyle.
5. As you approach your golden years, your wish is to have a home with fewer or no stairs. You may prefer a bungalow or one floor condo.
6. Perhaps you are or desire to be a snowbird and prefer a location where the weather is more to your year-round liking and where there are activities you like – golf, tennis, boating, or socializing outdoors.
7. There is no capital gains tax on the sale of your principal residence. The profit on the sale of your home is tax free, which can provide you with an additional nest egg amount to use for your pleasure and leisure.
You’ve decided to move…now how to sell your house?
Once you have decided to sell and move, take a critical look at your current home. Even the best-maintained homes begin to show age. It is really important to make those needed repairs and replacements so the house will show at its best. Buyers will be looking critically so it is a good idea to have someone who is not often in your house to take a walk through each room with fresh eyes to point out little bumps and bruises that could be mended.
Remember, homes that sell fastest and for top dollar show beautifully and are presented to their full potential. How does your home compare with other homes for sale, including new homes?
These are all great questions our Beautiful Homes Team can help you with so please don’t hesitate to ask.
Here are some specific questions buyers will be thinking about when they look at your home:
1. Are kitchen appliances up to date and in good working order? Does the kitchen have popular features like a microwave, dishwasher, plenty of counter space or a big island?
2. Up-to-date homes often have a master bedroom ensuite. Does yours? Does the master bathroom have a spa or soaking tub or dual-shower heads? If not, you will have to price accordingly.
3. Have you built any additions – a deck, patio, carport, and sunroom – without first obtaining a building permit or without passing inspection?
4. Do carpets and tile need to be replaced? Will a professional cleaning make them look like new? Or perhaps re-grouting the tile?
5. What do the walls look like? Do they suffer from puppy-bite or kitty-scratch? Should old, tired wallpaper be removed? Do walls and woodwork need repainting? Paint is one of the best bang for your buck return investments when selling a home.
6. Can you make closets and counters look larger? Are there items you can pack away and do without until after you move?
7. Are shrubs and trees neat and does the yard look well-kept and attractive?
8. How does your home compare to others currently for sale now?
To be able to get the best possible value out of your sale today, a house must be in tip-top condition in every way: price, condition, terms and exposure.
If you are thinking of selling your home or looking to purchase a home that is more suited to your needs (but also a good investment) contact us today, we would love to have a chat.