Retirement News with Professor Craig

Retirement News with Professor Craig

The Retirement News blog is dedicated to the financial and physical health and well-being of older Americans. 
Whether you're already in or nearing retirement, you will find important, topical information in the blog to help you make informed decisions on your road to retiring more freely.
As a 25-year veteran in the financial services industry and a certified trainer and teacher, Professor Craig's #1 goal is to help you thrive in retirement with financial peace of mind. 

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Stage Your Home for Sale & Sell It for More Money
Retirement News, Home Purchase, Refinance

Stage Your Home for Sale & Sell It for More Money

Stage Your Home for Sale & Sell It for More Money

Putting your house on the market can be an unsettling and emotional decision, especially if you’re downsizing from a long-time family home filled with years of memories.

It’s difficult to be objective about decluttering, refreshing certain elements, and rearranging furniture to position your home to show well — and garner the highest possible selling price. That’s why getting sound, professional advice can be a godsend.

Proper staging of your home is key, says Andrea Valle of NJ-based Andrea’s Innovative Interiors. “According to research, an average home listed without staging may be on the market for up to eight months,” she explains. “Homes that are staged effectively decrease the amount of time on the market by nearly 90%. RMF has laid out how to stage your home for sale and the benefits of staging your home for sale.

Investing for a Higher Return

Our home is a reflection of our lives, of ourselves. Staging your home when selling neutralizes that, allowing potential buyers to see themselves in the space. But it doesn’t have to be difficult, expensive, or stressful, according to Valle.

“There are two basic types of staging that work very well, depending on your home’s size and condition. A pre-listing staging consultation focuses on the assessment of the space while working with what homeowners already have. This is especially helpful if the home seller will be living there while the home is listed, and is the quickest and most cost-effective way to update a home.”

She continues, “Inventory rentals include furniture and accessories, which is very beneficial if the home seller won’t be living there while the home is listed. For this staging option, setup is usually done in a day and the furniture can be loaned monthly, usually starting with a three-month minimum. If staged well, this should be all you need to get through showings, offers, and into a contract.”

In essence, you want to present buyers with a clean, generic blank canvas where they can imagine the potential of the space, not how you live there. A professional stager can give a fresh perspective, from rearranging furniture to improve the flow or even a quick refresh with a neutral color palette change.

Living in a Staged Home You Are Selling

Life goes on, of course, while your home is on the market. Valle offers these tips for maintaining a “view-ready” home while you’re still living in it:

  • Do a daily walk-through with a basket to pick up stray items. Resist the urge to toss loose items into closets, as homebuyers may look inside to assess how much storage is available.
  • If you have pets, keep crates or beds, litter boxes, and food dishes in discreet places. If you have a large crate, you may even want to fold it up if you can.
  • Make the bed. It’s the quickest way to make a bedroom room feel bigger and cleaner.
  • Take your shoes off before entering your home. This will reduce any dirt, mud, or salt being tracked in.
  • Showing protocols during COVID-19 vary by area, so make sure to check with your realtor, but it’s a good practice to keep a basket near the door with hand sanitizer, disposable face masks, and even booties, depending upon the weather.
  • Don’t overlook aesthetics. Add some fresh (or realistic faux) greenery throughout the house. And don’t forget to keep the outside spruced up — this is truly the buyer’s first impression. Curb appeal matters.

Staging Your Home to Sell Makes Financial Sense

Homeownership is the biggest financial investment most people will make over the course of a lifetime. Home equity also serves as the centerpiece for most retirement plans, so it’s vital to make the most of it. From a financial point of view, you are increasing your investment which is most easily the biggest benefit of staging your home for sale.

Older homeowners who wish to relocate closer to family or downsize into a more comfortable home often think they can’t afford to move because of financial obligations, income, or other issues. That’s where a reverse mortgage for purchase, designed specifically for homebuyers age 62 and older, can be an effective financial tool.

As with a traditional “forward” mortgage, the home you’re purchasing secures the loan — except without monthly mortgage payments when you opt for a reverse mortgage for purchase. Borrowers must continue to meet home ownership obligations such as maintenance and keeping current with property taxes and insurance. The loan does not have to be repaid until you sell or no longer use the home as your primary residence.

For more retirement news from RMF visit our Retirement News with Professor Craig here.

Interested in learning more? Download a free informational guide or call Reverse Mortgage Funding at (888) 277-1567 to schedule a convenient appointment with a loan specialist in your area.

This content is sponsored by RMF, one of the nation’s leading reverse mortgage lenders. We are dedicated to helping older Americans retire more freely, in the comfort of their own homes. As a result of our commitment to providing an extraordinary and positive customer experience, we have earned a 98% customer satisfaction rating; a 4.7-star / Excellent score on Trustpilot; 4.8 out of 5 stars on LendingTree; and an A+ rating with the Better Business Bureau. Call 888-277-1567 to speak with a licensed reverse mortgage specialist to learn about our retirement financing products and solutions.

SEE WHAT FUNDS YOU MAY HAVE AVAILABLE

If you have equity in your home and believe you meet the eligibility requirements, a HECM may be the option that could help you retire smart.

Check Eligibility

 

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A More Flexible Home Equity Loan

If you’re 62 or older, there is a home equity line of credit option that offers greater financial flexibility than a traditional Home Equity Line of Credit (HELOC). It’s called a Home Equity Conversion Mortgage (HECM) line of credit. 
If you have an existing mortgage or home equity loan you could refinance them with a HECM line of credit and get enhanced benefits, including a flexible payment feature and a line of credit that GROWS when left untouched.
As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, and keeping your home in good condition.


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