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Whether you call it downsizing or rightsizing, the bottom line is you’re moving
into a smaller space and have no idea what to do with all the stuff you’ve
collected over the years. Many people consider moving from a larger home to a
smaller home at some point in their lives. Often this move is made after the child-rearing years,
when homeowners no longer need the extra bedrooms or living space,
and want less home to worry about (or to clean!). The problem is that they
have accumulated items to fill the space that they aren’t ready to part with, yet all
their stuff won’t fit in a smaller home.

If you’re considering this type of downsizing, begin by sorting your possessions
into three piles: keep, donate, trash. After trashing, donating, and storing what
you can, here are some clever ways to store your stuff in the new, smaller space.

• Dual-Purpose Furniture – Find furniture that offers hidden storage, such as
  a coffee table or ottoman with storage compartments for extra pillows,
  throw blankets, games, or books.
  • Baskets and Cubes – There are a lot of great options for cube storage units
  that incorporate baskets to store extra items for easy access when needed.
  • Digitize – This is the perfect time to put your important papers and pictures
  into a digital format. From treasured pictures to tax forms, there are
  companies who specialize in transferring your items for later access.
  • Repurpose – Take a careful look at your furniture…and Pinterest. You’ll find
  great ways to use some of your favorite pieces in different and useful ways.
  • Closets – Consider a closet consultation to make sure you maximize your
  closet space, not only in the bedrooms but also in your kitchen pantry and
  hall coat closet

Downsizing doesn’t mean you have to throw out everything you love. Take a hard
look at what matters and then use some of these tricks to store the items you
treasure without adding clutter to your new home.

Most people have wandered through new home developments and wished their own home
looked as modern and chic. Model homes showcase the latest upgrades and decorating
trends; for home sellers these homes are their competition, and it can feel daunting to offer
an older floor plan and design.

While it might seem like a smart idea to simply offer a buyer credit and list, there are
downsides to this plan, and taking the time to update a bit on your own first could mean
thousands of dollars in your pocket.

Here are a few reasons why offering a credit might not be the best strategy:

•   Buyer Impression – A dated home looks old and not all buyers can see the potential.
  • Lower Offers – Offering a credit could be viewed as high seller motivation, resulting in
  lower offers.
  • Value Differences – You and your buyer might disagree on the value of needed
  upgrades. For example, you might feel $7,500 is a fair cost for a new countertop
  whereas your buyers might expect considerably more; this can lead to more
  negotiations and lower sales price.
  • Home Condition – A property that shows its age can prompt the buyer to worry about
  the overall condition.
  • Loan Approval – Lenders are wary of buyer credits; in fact, upgrade credits are no
  longer possible. You might have a buyer unable to take advantage of the credit at all and
  you could lose the buyer.

Home design trends change quickly. If you’re ready to sell, it could be tempting just to list your
home in its current condition. Before you just add a credit to the listing, consider some simple
updating so your buyers can see the value of your home.

A down payment is the amount of cash a home buyer puts toward the price of a
new home. It accomplishes a few things; first it reduces the amount of money you
need to borrow and it reduces the risk the lender takes in loaning the money. By
reducing the risk, the borrower will typically get a better interest rate on the loan
and increase the amount of home they can buy.

How Large a Down Payment Do You Need?

The amount of down payment needed depends on the type of the loan, the
lender and the property price itself. While most of the 0% down home loans of
the last decade are gone, Veterans can still purchase a home loan with no down
payment. Other programs include FHA loans with as little as 3.5% down.
Conventional loans typically require a 20% down payment, but some allow as
little as 5%.

Is it Better to Make a Larger Down Payment?

In addition to the down payment, buying a home also requires cash for closing
costs and some reserve savings to guard against unexpected financial concerns.
One thing to remember though is that any financing with less than 20% down will
require private mortgage insurance – a monthly payment which protects the
lender in the event of default.

The best amount of down payment should be determined in consultation with
your lender and your tax or financial advisor, but the quick answer is “it depends.”
By working with a trusted lender, explore your options and you will make the best
decision for your needs.

Are you planning to sell your home? Regardless if this is your first time as a home
seller, or maybe you’ve sold many homes, understanding the selling process can
assure you that things are going smoothly. Successful transactions don’t just
happen; it takes experience and professionals to navigate from staging to closing.

Who Are The Experts?

• Real Estate Agent – Before you start, do your homework and find an
experienced listing agent in your area.
• Escrow Officer – Your escrow officer is a neutral 3rd party, they take the
terms agreed to by the parties and ensures they are fulfilled properly.

Timeline For Your Home Sale

• Meeting With Your Agent – Your agent will tour your home and discuss
  your market value (including a comparative market analysis), timing and
  financial goals in order to create a custom plan for selling your home.
  • Preparing Your Home For Sale – Typically even a dated home can be
  spruced up with small changes in furniture placement, fresh paint, new
  lighting and/or minor repairs.
  • Listing Your House – Once your home is ready for buyers, you will list your
  home, and your agent will implement their marketing plan.
  • Offers – Once you receive offers, you will meet with your agent to review
  them together and determine how to respond.
  • Escrow Process For Sellers – The buyers will complete funding
  requirements, obtain an appraisal and home inspection. As the seller,
  you will also complete any conditions you’ve agreed to, such as repairs
  or termite work.
  • Closing – Once all conditions have been completed, you will close the sale
  and receive the proceeds.

The sales process is a series of steps that you and your agent will take together.
Knowing what to expect, and when, can alleviate the uncertainty you might feel
as a seller.

Traditional lore says that the best time to list your home for sale is spring and if it
hasn’t sold by the end of summer, you’re out of luck. Along the same lines,
homeowners across the country are often advised not to list in the fall and wait
until after the holidays to list. The truth is that a great home will sell at any time
of year and in fact there are some very good reasons to list in the fall, while
everyone else is busy doing other activities.

4 Reasons to Sell this Fall

1. Less Competition – As mentioned above, most sellers list in spring, so as a
seller fall provides you less competition which increases the opportunity
for buyers to view your home.
2. Serious Buyers – Home buyers in fall often have a timeline to move before
the holidays. They tend to take the home search seriously and move to
write offers faster and avoid wasting time.
3. Curb Appeal – Fall is a beautiful time of year and homes always seem cozier
as the weather turns. Fall colors in the trees and the scent of baking entice
buyers to feel “at home” which encourages offers.
4. Closing is Easier – The pace of home sales slows during the fall; as such
lenders can move faster and the process tends to take less time.

The last and best reason to sell this fall is that it’s the right time for you and your
plans. Regardless of whether you are relocating, moving up or scaling down, if this
is the right time to sell, then this is the best time to sell.