Do Your Future Plans Include a Move? What’s Stopping You from Listing Now?

Are you an empty-nester? Do you want to retire where you are, or does a vacation destination sound more your style? Are you close to retirement and not ready to move yet, but living in a home that is too big in size and maintenance needs?

How can you line up your current needs with your goals and dreams for the future? The answer for many might be the equity you have in your house.

According to the latest Equity Report from CoreLogic, the average homeowner in the United States gained $14,000 in equity over the course of the last year. On the West Coast, homeowners gained twice that amount, with homeowners in Washington gaining an average of $38,000!

Do you know how much your home has appreciated over the last year?

Many homeowners would be able to easily sell their current house and use the profits from that sale to purchase a condo nearby in order to continue working while eliminating some of the daily maintenance of owning a house (ex. lawn care, snow removal).

With the additional cash gained from the sale of the home, you could put down a sizeable down payment on a vacation/retirement home in the location that you would like to eventually retire to. While you will not yet be able to live there full-time, you can rent out your property during peak vacation times and pay off your mortgage faster.

Purchasing your retirement home now will allow you to take full advantage of today’s seller’s market, allow you to cash in on the equity you have already built, and take comfort in knowing that a plan is in place for a smooth transition into retirement.

Bottom Line

There are many reasons to relocate in retirement, including a change in climate, proximity to family & grandchildren, and so much more. What are the reasons you want to move? Are the reasons to stay more important? Let’s get together to discuss your current equity situation and the options available for you, today!

Posted by The KCM Crew

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Generate Income for Retirement with Real Estate

There are many challenges you have to handle if you want to enjoy a nice retirement without worries out there. The following guidelines will give you more to work with so you can make generating income easier with a solid real estate investment, so let’s get started with the first idea on our list:

Choosing the type of real estate investment

There is a difference between what you may want to do and what you can do on your local real estate market. One good example of that would be to invest in an office building with potential if you have the means, which in turn would allow you to make use of the rent a company would have to offer financially. Ensuring a property provided with good parking lots and a location closer to a main road will make it more useful for your potential tenants, so consider that when you scout the market.

Improving and purchasing cheaper real estate

This is a solution that you can use to turn things around for older properties, especially since the cheaper ones will be of less demand for a number of reasons. You can still make use of them by doing some renovation. It will be an investment on its own and not without risk, but in some markets house flipping as it is called can be a viable business tactic if you can afford it. You can do this with renting in mind or simply buying, renovating and then selling the property at a better price. If you’re not sure whether this is worth the effort, you should speak to your chosen real estate agent for more relevant information on your local market to see whether this is a good idea or not.

Improving the property market value

There are quite a few ways you can go about improving your property, but not all of them require a serious investment of money for massive renovation projects. Your home can transform without too much effort and expenses if you handle it right. Consider the ratio between cost and effect and decide what solution would work best. Potential tenants will want to move house into a solid property, so you can work with a moving company to find out more information on recent moving patterns, as well as combining your efforts with an experienced real estate agent to get a better bead on the market, using that information to your advantage. Repainting a home is one example of a project that doesn’t require structural changes, but one that goes a long way to make a property look fresh once again. This will give you a better chance to attract potential buyers, especially when combined with some other smaller details such as changing out the light switches as well as the lights themselves and addressing maintenance issues the property may have had before you invested in it.

Keeping track of your credit score

Do you want to have a good set of investment capabilities you can rely upon? Well that means you will need to have financial stability first as well as proof of one. Many lenders these days will need to possess a minimum FICO rating of at least 700 if you want a fighting chance, so make sure you have a solid financial capability before you decide to move in on the market, as this is often the only way to obtain the finances needed for long-term real estate investments.

Posted by Heather Robert on HomeZada