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Should You Downsize and Rent Your Bigger House?

Should You Downsize and Rent Your Bigger House?

Living in a smaller home is a popular concept that addresses the idea of less is more. Those who wish to live a simpler life with less “stuff” have embraced it with gusto. But of course, having less stuff isn’t the only reason people downsize. It could be from a desire to live in a more environmentally friendly way. Or, the reason for living in a smaller home could be financial in nature. No matter the reason, should you downsize and rent your bigger house? Pros: According to the US Census Bureau, the average size of a new single family home in 2016 was 2,640 square feet. That’s a lot of house you could rent to someone else for some very positive reasons. Less Stuff One of the obvious reasons you should downsize and rent your bigger house to someone else is to have less stuff. The less stuff you have the less you have to maintain, clean, and replace. Have you ever donated items or held a garage sale? The process of going through your stuff to let some of it go can be very freeing. If you weren’t using the items anyway you may as well generate a ...

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Why a Reverse Mortgage is a Bad Idea

Why a Reverse Mortgage is a Bad Idea

If you are a homeowner, have you ever considered getting a reverse mortgage on your home? Plenty of people have gotten them for all kinds of different reasons. For example, some people have gotten them to go back to school, pay off debt, pay medical bills, or start their own businesses. Others have used the funds for retirement, travel, or to buy a second home. At least some of these reasons to get a reverse mortgage sound like good ones. But the truth is that there are a lot of reasons why a reverse mortgage is actually a bad idea. Equity is Reduced A reverse mortgage lowers the amount of equity you have in your home. Of course, your home could increase in value over the course of the loan which may cancel out the reduction in equity. Whether or not it does depends on the amount of the reverse mortgage and how much your home increases in value. That’s a pretty big gamble to take, however. There is always a possibility that housing prices will drop causing the value of your home to dip below the amount of the loan instead. This is one reason a reverse mortgage is ...

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Moving to Seattle? 3 Tips for Finding an Apartment as Population Grows by 1,000 Each Week

Recent estimates from the U.S. Census Bureau show that Seattle has the ninth fastest-growing metro area in the U.S. This means the Seattle area gains approximately 1,100 residents per week, according to calculations from the American City Business Journal. In other words, real estate is a hot commodity in the Emerald City these days. Whether transplants are ex-Bay Area professionals seeking relief from soaring property prices or fresh-faced Midwesterners hoping to experience all that west coast life can offer, an influx of residents mean that the housing market is more competitive than ever. Keep reading for apartment-hunting tips that can help you nab the living space of your dreams (with enough natural daylight to counteract the gray, drizzly weather, of course). Research Your Future Neighborhood The Internet makes it possible to get a good feel for pricing and different neighborhoods without requiring you to actually hop on a plane. As Business Insider points out, you’ll want to focus on three categories: neighborhood personality, neighborhood price, and commute time. Dig deeper and check out recent news articles from each neighborhood as well as yearly crime statistics. If you’re torn between neighborhoods, come up with your own ranking system and crunch the ...

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Four Ways to Make Your Home More Appealing to Potential Buyers

When you are trying to sell a home, it can be frustrating to have it listed for weeks, or even months, and not have anyone show any interest in it. If you want to sell your home as quickly as you can, you may want to consider tweaking a few things to make it more appealing to potential buyers. The following guide walks you through a few suggestions for things you can do to make your home more appealing to home buyers. Consider Adding Smart Improvements to the Home Smart homes are all the rage right now, but completely renovating your home into a smart home could cost a lot of money. Instead, consider adding a few smart elements to the home to make it more appealing. Solar panels are availavle from a variety of brands like Solarworld, and are a great option for any homebuyer who is interested in lessening their carbon footprint and living a more eco-friendly life. There are panels available in many different sizes to ensure you can find the right ones for your specific home. There are also smart thermostats that can be connected to a cell phone so that the temperature in the house can ...

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Getting Your Vacation Home Ready For Market

Vacation rental homes are a popular investment option. They save us lots of trouble and money when it comes to planning a trip, and they are also typically profitable if you rent it out frequently when you aren’t using it. But circumstances change, and sometimes we want to make different plans for our travel. We may want to break up our trip with multiple destinations or take a cruise instead of staying on dry land. There could be health issues, work conflicts, or other things that make the property impractical, or we may just want to cash in on our investment. Whatever the reason, if you choose to sell your vacation home you can do a few things to increase its value before placing it on the market. These are proven steps that will bring in more money than they carry out, and they’ll help the property sell sooner as well. If your place will be hitting the market, think about these potential upgrades. Improved Safety There are few travel concerns more universal than safety. Travelers want to know that their belongings will be safe while they visit the sights during the day, and they want to know that intruders won’t ...

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