0 comments on “What’s Your Plan?”

What’s Your Plan?

The AARP membership letter arrived in the mail, you receive numerous invitations to “Plan Your Retirement Seminars”, and Medicare Supplemental Insurance plans haunt you. But you don’t feel that old until you look in the mirror or try to run up the stairs multiple times to retrieve forgotten items. Now is the time to plan for your future living options before it is too late.

You might physically be able to take care of the yard today but what is going to happen in the future? Several concerns need to be addressed when deciding on living options as you age. Physical safety and financial security top the list. Also take into consideration the proximity of family, doctors, and friends.  We all want to stay as independent as possible so we need to consider the following:

  1. Is it feasible to remain in your current home? Is your home all on one level with easy access? Or are extensive renovations such as front entry ramps, bath bars, wider halls and doorways, zero entry showers or sit- in tubs required? Renovations can be quite expensive as well as messy and frustrating to live through. Making renovations still doesn’t answer the question of who continues to maintain the house and yard. You must also consider whether asking family or hiring help will become both financially and emotionally overwhelming for all involved.

2. Consider purchasing or renting a barrier- free home. If your home requires extensive costly renovations maybe it is time to make a move. Purchasing or renting a barrier-free home or apartment may allow for aging in place more independently.  Choosing a location near family and friends or in a senior living community can help to alleviate loneliness, isolation, and depression.

3. Buy or build a granny pod or a multi generational home with family. Home plans are available with separate wings for privacy. Another option if there is enough space is to build a granny pod in the backyard that allows for easy access.  Some families buy duplexes/ side by side homes so they can continue to care for each other. These types of living situations can benefit both the older generation and the younger ones; especially those with younger grandchildren.

The decision to age independently in place requires planning. Be sure to involve a trusted financial adviser as well as your family when planning for your future.

If you are interested in learning about your home’s value, the selling process, and/or finding a new property, please reach out to me.

 

0 comments on “The 3 Steps to Home Ownership”

The 3 Steps to Home Ownership

Stepping to Home Ownership

More and more millennials and the up and coming Gen Z’s dream of  home ownership. Unfortunately, many of the young people today carry large student debt. Home ownership is achievable by following these three simple steps.

  1. Learn to live on a budget. Know exactly where and how you are spending your money. It is so easy to budget with all of the free apps available today. Prioritize your spending, downsize what isn’t necessary, and know what sacrifices, such as stopping at the coffee shop and going out to eat, you are willing to make in order to pay off your debts and save money.
  2. Build your credit history. Stay on top of your student loan, car loan, and credit cards. Make sure to pay them off each month on time. If you don’t have any loans or a credit history, open a credit card, use it, and pay it off each month.
  3. Automate a down payment savings. Have a designated amount of money automatically deducted from your paycheck each month and deposited into a house fund account. Keep the account separate and don’t touch it until you are ready to purchase a home.

Although, there are loans available for no money down, it will be necessary to have available funds for closing costs and miscellaneous expenses such as inspections. A sizable down payment  with a good credit score can reduce the interest rate on the loan for your home purchase.

All good things in life, require a few sacrifices and work. Home ownership is achievable, you just need to take the proper steps to get there.

0 comments on “Buying a Home for Man’s/Woman’s Best Friend”

Buying a Home for Man’s/Woman’s Best Friend

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It may sound crazy but many of us buy a house for our best friend, the family dog. Given that 99% of pet owners feel that the dog is part of the family it isn’t really all the crazy. Many Buyers undertake projects to improve the house they fall in love with if it isn’t pet friendly.

Although we personally never require a fenced in yard, doggy door, or dog wash, we always look for ease of letting the dog out on a chain and having a place to dry the dog’s feet off. 52% of dog owners surveyed under take projects to benefit their dogs. If the yard isn’t fenced, 23% build one. Dog owners also change the flooring in their homes to make maintenance easier. They prefer not to have carpeting where the dogs enter from the yard and 10% install laminate or luxury vinyl tile instead of wood. Wood floors scratch easily, especially if you have a larger dog. Although, I notice scratches on my floor and I have a 24 lb. cavachon. We installed luxury vinyl tile where we let the dog goes in and out and the clean up is easy.

Buyers should ask if fences or outdoor kennels are allowed in the neighborhood before purchasing a home. Many neighborhoods have covenants that forbid fences; especially chain link ones, kennels, and dog houses. Know your options before you buy. Is a laundry room sink important for bathing your dog when they come in from the mud? Or do you need a faucet in the garage? Today, we find clients who are building a home request a dog was either in the garage or the laundry area.

As a Buyer, do you look for a pet friendly home? What is the most important feature for you?

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