Category Archives: Real Estate Advice & Tips

Money Monday: Financially prepare for retirement by downsizing

“It makes financial sense to downsize your home as you prepare for retirement.”

retirement

“The move to a smaller home is a lifestyle and financial change all parents should weigh after their offspring are off on their own, personal finance pros say.

“One of the first things freshly minted empty nesters should do is “revisit their housing situation,” says Dana Anspach, founder and CEO of Sensible Money, an investment advisory firm in Scottsdale, Arizona.” (Yahoo Finance. https://finance.yahoo.com/news/makes-financial-sense-downsize-home-110102643.html)

Read more at Yahoo here: “It makes financial sense to downsize your home as you prepare for retirement. Here’s why.”

Money Monday: Homeownership budgeting

Becoming a homeowner of course brings with it paying for various fees and services, but there are smaller fees that you may not be thinking about when penciling out how much you can spend on buying a home. Add into your budget fees for the following buyer fees:

  • Home inspection
  • Appraisal fee
  • Survey report
  • Title services
  • Application fees

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

Money Monday: How to not overpay for a house

money

“No buyer wants to pay too much for a house…buyers should know when a property is overpriced and be equipped with strategies to avoid overpaying.” (CNN. “How to avoid overpaying for a home.” www.cnn.com/2019/01/11/success/overpaying-for-a-home)

CNN has practical tips here: “How to avoid overpaying for a home.”

Money Monday: Paying for surprise repairs

Nearly half of homeowners have had to make (and pay for) an unexpected repair within the first year of owning their home. Do you have money set aside for a repair?

  • 12% had to use savings to pay for the majority of the home repair and/or improvement
  • 13% had to go into debt for the repair or improvement
  • 20% had to make sacrifices in other areas of life in order to pay for them
  • 52% were able to easily pay for the repair or improvement without going into debt, making other sacrifices or using savings

Making and paying for surprise home repairs

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

Money Monday: Don’t get sidelined when buying a house

Here’s some of the biggest misconceptions that home buyers have — and some financial misconceptions.

Money Monday: Financial documents every family should have

Financial documents are important when you’re on your own, but even more so when you have a family.

Here are four different documents you should probably have:

1. Beneficiary designations

2. A will

3. A Heath Care Proxy 

4. An Advance Medical Directive (living will)

Read the rest of Forbes’ article on this here: “4 Basic Financial Documents Every Family Should Have.”

Money Monday: Make smart purchase offers

When you write a purchase offer, the back-and-forth between you and the seller begins (typically with real estate agents advising both of you) — and when you are intentional about your number and why, the more successful you’re offer will be.

All-cash offers in today's real estate market

Following some guidelines from HouseLogic when choosing your purchase offer amount will help:

  1. Know your financial limits and stick well within them.
  2. Get familiar with the real estate lingo (an agent helps tremendously here!)
  3. Have your agent run the comps to see how the list price of the home compares and then take other aspects (like time on market, availability of other similar properties in the area, etc) into account.
  4. Figure out your down payment.
  5. Make an earnest money deposit if you’re truly serious about buying the house.

Read the remainder of HouseLogic’s tips here: “Make an Offer Like a Boss.

And give me a call for step-by-step real estate help as your Realtor when buying a house! John A Silva, (619) 890-3648

Must Read if You’re Now Thinking About Selling Your House

This quick read from House Logic has 4 major points when making the decision to sell your home or rental. Read it here:www.houselogic.com/sell/how-much-is-my-home-worth

Even though it is the holidays, wouldnt it make sense to get a leg up on the competition by starting now? Tailoring showings around your holiday schedule is easy when hiring me.

Call me for FREE analysis of your property today!

Thank you

John A Silva, Realtor.
619-890-3648