Getting ready to move
Question: We hope to sell our home and move into something larger next year. What can we do now to get ready? Answer: Selling a home and looking for another to buy can take months, and there are certain tasks that should be performed throughout the course of this process. Here’s some tips:About five months before listing their property for sale, homeowners should make an inventory of all of their possessions to determine what items they can do without when they move. They should also assess the general condition of their home – including both the interior and the exterior – and decide what kind of repairs to make. Four months before, the owner should start packing seasonal clothes and items they will not need for a while. At this point, it is also wise for house-hunters to start visiting neighborhoods and open houses to get an idea of what kind of home they want to buy – and where.About three months before putting their home on the market, owners should make a decision on their new neighborhood and continue the packing process. Some items can be placed in storage for a limited time. The process of making repairs to the home should also start at this time and continue into the next month. With only two months to go, the packing, cleaning and repairs should be near completion; and any landscaping should also be finished. Additionally, the seller should begin interviewing several real estate agents who are able to offer a comparative marketing analysis to determine a listing price for their home.Finally, in the last month before putting up a home for sale, all preparatory work started in the past four months must be completed. That means hiring the agent, scouring the home and devising a plan to keep it looking neat and inviting while it is on the market. The seller should also start visiting homes for sale in the targeted new neighborhood.Question: What are the benefits of owning your own home, and what do we need to take into consideration in terms of expenses?Answer: Renting or owning a home comes with its own particular benefits and drawbacks. Renters enjoy lower monthly payments and the luxury of not being responsible for upkeep and other chores. Although renters appreciate such benefits, they also must deal with rent increases as well as the inability to accumulate equity. As such, many plan on making the jump to home ownership within several years.Before doing so, though, buyers must consider that they’ll have to make a downpayment, as well as cover closing costs, mortgage payments, property taxes and maintenance. In exchange, though, they will realize the benefits of appreciating property value and tax benefits, even as their mortgage costs remain constant.Many first-time buyers also find themselves overwhelmed by the responsibilities and budgeting that accompany home ownership. Meeting with a real estate professional and also consulting libraries and bookstores can help these consumers better understand the process of home buying, determine whether they are ready for ownership and allay their anxieties. In the end, consumers are rewarded with the emotional benefits of owning their own homes.Call JOYCE NENNINGER at (970) 468-6800 or (800) 262-8442 for answers to your real estate questions. Or e-mail Joyce@SummitRealEstate.com or you can visit her website at http://www.SummitRealEstate.com. She has lived in Summit County for more than 20 years. Joyce is the broker/owner of Summit Real Estate – The Nenninger Team at the Dillon Ridge Marketplace. Her longtime residency and years of real estate experience can help you make the most of any buying or selling situation. She is a Certified Residential Specialist (CRS), the highest designation awarded to a Realtor in the residential sales field. She ranks in the top 4 percent of Realtors nationally.
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