Amy Miller - Silvercreek Realty Group | Meridian Real Estate


You may think of downsizing as something that makes sense when you have an empty nest. Larger families do, of course, need more room. Downsizing can also be financially strategic and rewarding for you and your family if you have the opportunity to do so.


How Much Is Your Home Worth? 


There comes a point in your life when the amount of money that your home is worth is very important. Maybe you need the money for retirement and are looking to move to a cheaper city or state. Maybe it’s time for you to pursue your goals and dreams. Whatever the reason, your home is a very large asset.  


If you downsize, you’ll have a bit more money available to invest for your future. You may even consider buying an investment property. If all of your money isn’t tied up in a home, you’ll have a bit more freedom to do other things with your money.


A Smaller Home Means Smaller Expenses 


When you downsize your home you end up with much lower expenses for your housing. You’ll save big on both utilities and home maintenance. You’ll be surprised as to how much extra cash you’ll have each and every month that you’ll be able to use for other things like investing, travel, or other expenses. You’ll have the ability to do things beyond simply achieve that one dream goal of home ownership. 


What If You Don’t Already Own A Home?


There’s a lesson to be learned here for renters as well. If you’re getting ready to buy a home, you may want to think small. A smaller home that can suit your needs will allow you to save thousands of dollars over the life of the mortgage on your home. Remember that a mortgage payment is more than just the cost of the home. You’ll need to include things like taxes, insurance, mortgage insurance, heating, electricity, and more. The smaller the house that you buy, the less all of these things will cost. Think of what you could do if you invested that extra money that you saved on all of these things each month. 


What Would You Do With The Money You Save?


Having a big, beautiful home is a fantastic goal to achieve. You may have other dreams that you want to pursue in addition to owning a home. While downsizing isn’t for everyone, many people use the money they save to do some pretty incredible things like:


  • Travel
  • Go back to school
  • Buy a vacation home


The Negatives Of Downsizing


If you move into a smaller home, there are a few drawbacks. For one, you’ll have less storage and will actually need to downsize your amount of belongings as well. You’ll also have less room for visitors if hey come to stay. If grandkids frequent your home, you may be hesitant to sell and find a smaller place. It may also be difficult to find what you’re looking for at a certain price in a specific area. Think carefully before you decide to downsize and see if it has the right benefits for you.


In real estate, cash is power. It’s not exactly the amount of money that you have been approved for by a lender. This type of “cash” is what you can pull directly from your account to buy a property on demand. It can be difficult to compete with cash buyers especially in tight real estate markets. Below, you’ll find some tips to help you match up against any cash offers that you may be competing with when you buy a home. 


Make Your Offer Look Attractive As Possible


First, you should always have a pre-approval letter from your lender. This lets sellers know that you’re a qualified buyer. You should also get your lender or realtor (or both) to provide some financial information about you along with your offer. This helps to add to the case that you’re a dependable buyer.


Let Things Move Quickly 



If you allow your lender to send an appraiser to the property as quickly as possible, this will give you an advantage in the home buying process. You want to reduce the amount of time that it will take to close on the house. That means you should consider cutting down on both the appraisal and contingency time. You could even consider waiving any contingencies if you feel comfortable. 


To speed up the process, even more, you should pre-order an appraisal in advance. You can do this before your offer has even been written. It can be difficult to arrange this, especially with larger scale lenders, but it’s always worth a try. Once the offer is written, the lender can relay to the seller that an appraisal has already been scheduled.


You’ll also want to get the inspection done fairly quickly. You only have a short window of time to get the inspection done. The quicker you get this done, the more serious of a buyer you appear to be. You should have the inspector who you’ll use ready before you even put an offer in on a home in order to expedite this part of the process. Usually, inspectors don’t take terribly long to schedule appointments knowing that their clients have short windows to get inspections done.  


Make A Strong Offer


Making a good offer could mean paying extra for a home you love in order to compete with cash offers. Spending more money helps to win. Here’s why: Sellers almost always will give a cash buyer a bit more of a discount since they’ll be getting all of the funds up front. If you love the house and plan to live in it for years to come, the extra money you spend will be well worth it.         


Write An Offer Letter


An offer letter adds a bit of a personal touch to the number you put down as a buyer. Here, you can tell the seller who you are and why you love the home. It can be emotional to sell a property, but a seller will feel more comfortable knowing that the home is going to someone who will appreciate it.

  




Location, location near shopping, airport and interstate. Beautiful single level nested in cul de sac neighborhood of beautiful Millcreek homes. 4 split plan bedrooms, fireplace in ample size great room. Side entry garage beautiful backyard for private occasions or to hang out. Open kitchen with plenty of eating space. Granite counters in kitchen. Low utility costs, family friendly neighborhood. Pristine condition.

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1693 S Watersilk Place, Boise, ID 83709  

$260,000
Price
4
Bedrooms
2
Baths
Location, location near shopping, airport and interstate. Beautiful single level nested in cul de sac neighborhood of beautiful Millcreek homes. 4 split plan bedrooms, fireplace in ample size great room. Side entry garage beautiful backyard for private occasions or to hang out. Open kitchen with plenty of eating space. Granite counters in kitchen. Low utility costs, family friendly neighborhood. Pristine condition.


De-cluttering your home is an essential part of the process of prepping your house for the real estate market. It also may require you to find a place to store antiques, photographs and other personal items that you'll need to remove from your house in the immediate future. Fortunately, storage units are available that enable you to protect your personal items while you sell your current home and work toward relocating to a new residence. There are many great reasons to use a storage unit while you sell your house, including: 1. You Can Free Up Space in Your Current Home. Want to show homebuyers the full potential of your house? Rent a storage unit, and you can free up lots of space in your residence instantly. A storage unit gives you plenty of room to safeguard your personal items while you're going through the home selling process. Plus, you'll be able to de-clutter your house accordingly, ensuring you're able to clean every nook and cranny of your residence and ensure your home looks great for prospective homebuyers. 2. You Can Keep Your Personal Belongings Safe and Organized. Let's face it – no one wants to put their treasured belongings in a storage unit that's not secure. But with a storage unit, this is never a problem, as this unit typically is easy to lock and is designed for advanced protection against a number of everyday dangers. For example, a standard storage unit facility is equipped with security cameras, and some facilities are monitored by security personnel 24 hours a day, seven days a week. Moreover, storage units are designed to protect your belongings against inclement weather, as they often are temperature controlled to ensure your items will maintain their quality. 3. You Won't Have to Break Your Budget to Rent a Storage Unit. Selling a house can be an expensive process. And as you spend money completing home improvement projects and cleaning up your residence, the last thing you need is a hefty bill for the rental of a storage unit. Usually, a storage unit serves as an affordable option for home sellers. The cost of a storage unit is frequently based on the size of the unit you need; therefore, if you're only storing a few items, the cost likely will be minimal. It also is important to keep in mind that the cost associated with the rental of a storage unit may only be temporary. If you dedicate the necessary time and resources to enhance the appearance of your house, you'll be able to sell your current residence quickly and move your belongings from a storage unit into your new home. Storage units represent wonderful choices for home sellers, and your real estate agent may be able to help you explore the storage unit options that are available. This real estate professional might even be able to ensure you can score the best deals on storage unit rentals in your hometown. Rent a storage unit as you get ready to add your home to the real estate market, and you can keep your personal belongings safe and organized at all times.



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