DOWNSIZING AND EMPTY NESTERS
Did you know that boomers will turn 65 at a rate of about 8,000 a day for next 18 years? That’s a lot of American homeowners who are reaching retirement age and starting to think about their next phase in life.
If you fall into this category, it could be a good time to consider leaving that large home behind. Downsizing can help boomers enjoy their newfound freedom.
Here are six enticing advantages to living this “less is more” lifestyle once the kids have left the nest.
1. Smaller House = Smaller or No Mortgage
Generally a smaller home can translate into a smaller monthly mortgage payment. When you’ve lived in your large family home for many years and built up sizable home equity, you may be able to cash out and purchase a new smaller, less-expensive home –even possibly eliminating a mortgage payment.
2. Reduced Monthly Expenses
Downsizing your home in also downsizes your monthly costs. Utility bills may shrink, taxes and insurance may be reduced, and general upkeep and maintenance should be more affordable.
3. Shed the Burden of Home Upkeep
Moving to a smaller, more affordable home also provides a fantastic opportunity to ditch the yard work and household chores and slap on some sunscreen. Moving to a town home can mean no more mowing if your HOA takes care of the landscaping. The cost of utilities, maintenance and repairs will be substantially less.
4. More Affordable Area
Downsizing is a great opportunity to move to a less expensive metro area. Finding a city that gives you more “bang for your buck” is a big boon to retiree sand empty nesters who will needto adjust to life on a fixed income.
5. Lifestyle Upgrade
Empty Nesters usually have a bit more time for themselves. In the process of downsizing, you have the opportunity to relocate closer to all the new lifestyle amenities you’ll want to enjoy such as golf, tennis, biking and other outdoor activities? Or do you prefer life in the city with restaurants, theater, shopping and cultural activities all within walking distance? Downsizing allows you to live closer to the lifestyle you want –and hopefully, you’ll have a lot of monthly cash left over to enjoy it!
6. Less Stuff = More Life
There’s something intangible about downsizing and getting rid of all that “stuff”. As you simplify your home, you simplify your life. Invest the time needed to clean out and edit your possessions, and you’ll create a lifestyle that functions better and is easier to maintain. Talk about a win-win!
Summit Real Estate Group’s services and extensive market experience help sellers navigate what might otherwise be an intimidating marketplace. With over 1,000 closed transactions, we give you our 100% attention, and guide you through the process and advise you on how to prepare, showcase, and price your home effectively.
We prepare you for what to expect every step of the way. We are extremely organized, technologically savvy and armed with the latest technology and a staff of professionals to assist us along the way with marketing and account management. No detail from listing to closing will be overlooked!
As your Seller’s agents, Summit Real Estate Group offers the following:
Important Considerations. When selecting an Agent, most Seller’s are looking for Six Key Issues that are important to them as follows:
4. Market Plan
Summit Real Estate Group excels in each of the above factors that are important to Sellers.
Experienced Advice. Preparing your house for market is essential. We will recommend home improvements that will increase the value of your home in the least intrusive and most efficient way and provide the most value for the least cost. After listing, we’ll advise you on how to stage your home for showings and you will have access to our vast network of vetted vendors ranging from handymen, electricians to specialized contractors. Staging your home and creating curb appeal can help to ensure you get the highest price in the shortest time possible.
Comprehensive Market Analysis. Property values are determined by carefully evaluating the following factors:
2. Seller’s Time Frame
We will prepare an in-depth market study of your home’s value, by drawing from comparable homes that are currently on the market, under contract in escrow, and recently sold. When arriving at a recommended list price, we will maintain a careful balance between appraisal issues when overpricing the home and establishing a price with opportunities to obtain Multiple Offers at a higher price than list price. Before you decide on the final list price, we will network with other top agents in the area and will obtain feedback on pricing and suggestions for improving the value of the property. This has proven invaluable to many of our clients.
Exposure to the Market. Summit Real Estate Group’s comprehensive 35 POINT MARKETING PLAN will detail all the methods we will employ to sell your home, including the internet and local media. Keep in mind that over 90% of all residential sales involve an initial internet search. Getting your listing online isn’t an option, it’s a necessity that will require professional photography and a virtual tour (24 x 7 Open House). Our marketing team will prepare a professional color brochure of your property with all relevant details, photos and financing options. Open houses will be conducted to increase the exposure. The advantages of your home with all relevant details, photos and virtual tour will be submitted to the Multiple Listing Service (MLS), and then Syndicated to all real estate websites that buyers use when searching for a home to provide maximum web exposure. We will network with other top agents and companies to maximize the exposure and interest level in your home. We will also market your home to our extensive Buyer data base.
Monitoring and Feedback. We will monitor your listing’s progress and provide weekly feedback from showings. We’ll also keep you updated about the progress of competing listings and current market trends. All offers will be immediately presented with the pros and cons, a Seller’s Net Sheet showing your proceeds with the offer as written and strategies for countering the offer.
Negotiation and Support. Contracts can be complicated and intimidating. You will have the full benefit of our experience and knowledge for a successful transaction. When an offer is received, we’ll help you negotiate the best possible price and terms while looking out for your best interests. If we are unfamiliar with the Buyer’s Lender on the Pre-Approval, we will have one of our preferred lenders carefully review the Buyer’s Credit and Income to ensure that the Buyer can obtain the financing stated in the offer.
After accepting an offer, our Transaction Coordinator and we’ll oversee and resolve any contingencies that arise before closing, such as mortgage, appraisal and home inspection issues. We will continue to market your home after offer acceptance to obtain back-up offers as insurance. The importance of cooperating with buyer agents, lenders and escrow officers to keep a transaction moving smoothly cannot be overlooked. We’ll work to ensure that the entire process is a positive experience and eliminate or minimize any unexpected surprises. We do not let deals fall apart. We make ourselves available 24/7 to ensure a smooth closing.
Beyond the Closing. Summit Real Estate Group can help you find your next home. Over 75% of our business is referral and/or repeat business from past clients, their family members, friends and business associates. Summit Real Estate Group prides itself on repeat business and would love the opportunity to earn your business and trust and add you to our growing “Clients for Life” family.
If you are moving out of the area, through our extensive Network of Nationwide Brokers, we can connect you with a knowledgeable realtor that can answer all your questions about the local market area, including schools, neighborhoods, the local economy, and more.
Summit Real Estate Group prides it’s self on repeat business, and working with us you will come to understand why!
Contact our Team by Email at Info(at)SummitRealEstateGroup(dotted)net or call us at. . .
Orange County: 949. 305. 0121
Los Angeles County: 661. 510. 7975