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Retirement in your future?
If retirement is in your near future, or perhaps you are already there (congratulations) you may find yourself wondering if staying in your home is still a good fit. When you live in a home for an extended period, it is normal for your needs to change as you progress through life’s milestones. You may find that your home is too big for the needs of this next chapter. Perhaps you have always had a dream destination in mind, whether to visit or to live or maybe you just want to be closer to family. Selling your home may just be the key to moving onto something that fits your life better.
Regardless of your why, understanding your options and the market can help you make the best next decision. We cannot stress enough that no one size fits all and suggest discussing your unique situation with a trusted Realtor. If you are not currently working with a realtor, connect with us. We will help find you the perfect match through a series of specific questions.
Follow along as we discuss why you might be in an advantageous position if you ARE considering a move and thinking about retirement.
Consideration 1: How long have you owned your home?
Today, people are living in their homes longer than they ever have in the past. The longer you live in the home the more likely that you are in a better position to sell. Let’s look at a few factors. The National Association of Realtors (NAR) shared that homeowners owned their homes for an average of six years between 1985 and 2008 whereas homeowners have been staying in their homes for an average of 9.2 years since 2009. See the graph below.
If you are like most homeowners today, you have been in your home for well over 5 years. If this is the case, it is an indicator that a move may be in your favor. Typically speaking, you have built significant equity after just 5 years in your home due to home price appreciation. The Federal Housing Finance Agency (FHFA) demonstrates this in their graph below.
If you have lived in your home for over 5 years, you might just be sitting on a large sum of money that could make your dreams a reality. The recent market has helped homeowners increase their equity by nearly 60% in the past 5 years. Those who have owned their homes since 1991 have experienced their home triple in value since they purchased it back in 1991.
Consideration 2: The Market
Currently, we are experiencing a sellers’ market. Home price appreciation is stable. There is a lack of inventory and a prediction that mortgage rates will decline. We have already begun to see the decline in rates. As rates drop, homeownership becomes an attainable option again for those looking to buy. If you are not currently working with an agent and would like to discuss a strategic plan, connect with us here.
Whether you wish to downsize, move to the destination of your dreams, have the funds to go on the vacation of a lifetime, or move closer to the ones you love, the equity in your home can help get you there.
No matter what your home goals are, a trusted realtor can help you discover the best options to get you there. They can help you sell your current home and get you into the that is right for life today.
Retirement in your future? Let’s connect and explore your options.
Making a Memorable Home
Making a Memorable Home
Fresh out of college she had little desire to decorate or apply much effort to her home. She figured, “if it’s not functional, it’s not needed.” That all changed when her best friend, a former beauty queen, moved in with her. “Everything was moved! Books were realigned to look nice, plants popped up everywhere, and anything that didn’t look pretty found a discrete new home.” Although the first shock of everything shifting around her was a bit startling, she started to notice a big difference. “All of a sudden the people entering her home would look around and almost immediately compliment her on her ‘Pinterest’ home. She would overhear conversations about how great visiting her house was and when people did visit, they wanted to stay.”
This was the story of one of our agents and her journey in learning the power and positive impact that decorating can have on a home. We’ve all been at the start of this journey at one point or another. Fearful of making mistakes, we settle for what we have or even convince ourselves we like it better without the fancy decorations (even though we drool at Pottery Barn). Decorating can play a key role in turning that house you bought into a real home. It can transform plain space into a memorable oasis for all who enter.
In everyday life this is important but when selling a home, it is invaluable.
To ease your fears we’ve gathered some key interior design tips we hope will help you with your first steps to a new interior design.
5 Rules for Interior Design
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Start with a Neutral Palette
Bright colors and bold accents go in and out of style rapidly. Neutrals are lasting and timeless. Start your room off with a neutral palette that will be consistent and lasting. Pops of color are easily achieved in replicable items such as books, floral arraignments, and accessories.
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The 10-30-60 Rule
An easy way to decide when and where color should be added is using the 10-30-60 color rule for dominant, secondary, and accent colors. As the name suggests; your dominant color (a neutral) should cover about 60% of the room. Your secondary color, a little bolder, should be used repetitively without overpowering. Your boldest color, the accent, should be included sparingly and with intentionality.
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Think Vertically
Artwork, wall décor, and tall plants help to bring the eye up off the ground or coffee table. Also, storing items vertically on shelves or other creative options keeps them off the ground or on low areas, preventing the home from feeling cluttered.
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The Rule of Threes
Styling surfaces can feel intimidating. Too few items can leave the space feeling sparse and awkward, but too many items can cause clutter. When in doubt, follow the rule of three. Odd number groupings are more appealing to the eye than even ones. Placing three cohesive items in a space can help to create this dynamic.
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Don’t Over-Theme
Everyone loves a good beach themed room but when everything is covered in is shells, sand, umbrellas, and flip flops it can start to look ridiculous. Keeps obvious references to a theme at a minimum with accent pieces and try to enhance the feel of the room over the theme.
Looking for some inspiration or a creative piece to get you started? Visit Seaside & Sylvan! They are a small furnishing boutique located at the historic Greenbank Farm. Their creative décor and helpful associates are sure to spark your style into action.
You might also like:
Parks in Oak Harbor
Before & After – The Importance of Staging
Before & After - The Importance of Staging
It is normal for you to love your home and all of your belongings. However, when it comes time to move, and you are ready to sell, you want your home to be as appealing as possible to as many buyers as possible. To accomplish this you must prepare your home in a way that buyers can envision themselves living there.
The purpose of staging is to make the home speak to everyone else, in a captivating manor. The last thing you want is your personal belongings distracting your buyers from the features of your home that will make it sell.
For example when buyers see:
Piles of papers everywhere it tells them there is not enough storage. Solution: straighten up, get rid of the unnecessary, and create a cleaner more inviting space.
Filled kitchen counters make them think there are not enough cabinets. Solution: Clear off your countertops.
Packed closets lead them to believe the closet is too small. Solution: Do a bit of spring cleaning before photo day get rid of the unnecessary, fold clothes, straighten shoes, and organize your clothes by color on your hangers.
Rooms with a lot of furniture makes them feel cramped and left feeling like there is not enough room. Solution: move furniture into a way that is fitting for each room, perhaps rearranging furniture into other rooms or reducing the amount of furniture altogether.
When your home is clean, clutter-free, and/or staged you are telling potential buyers that you take good care of your home, while simultaneously providing them a clean slate to imagine themselves living there.
81% of Realtors said staging helps buyers visualize the property as a future home, while 46% said it makes prospective buyers more willing to walk through a home they saw online.
Ready to get started?
So, you can either be the "house with the beautiful granite counters and fantastic views" or the "house with the National Geographic collection where the dinning table is supposed to be."
