Retirement: Selling Your Home or Keeping It

June 29, 2016 by  
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retirementWhen you retire you face some difficult decisions as a homeowner.

When you’re on the verge of retirement, you’re face with multiple options in regards to your home. You can keep your current home or you can sell it and downsize. Either way is catered to your preferred lifestyle so it would be wrong to say that one option is better than the other. However, it’s important that you keep your finances in mind as it does play a large role in figuring out with option is best for you.

Lifestyle Changes

If your children have all moved on from your household and are now living on their own, you may have excess space that you are paying for. This is where downsizing to a smaller home comes in handy. You will garner extra money from your home that you have gathered throughout the years – assuming it’s been kept in quality condition – and be able to find a smaller home that s best suited for you.

Memories

Parting with a home may be an emotionally difficult thing for you to do, especially if you have gone through significant events there. Now, if you do have the finances to afford your home and still be able to enjoy your retirement, then why not? It’s your home after all, if you can maintain the same lifestyle and fully integrate your retirement at the same time, there should be nobody stopping you from making this decision. However, be sure that you consider all financial factors before. But, you can also downsize in the future if you decide to.


Kuba Jewgieniew is the head of Realty ONE Group, a real estate brokerage firm that has offices in California, Nevada, and Arizona.

The Importance of Paying Off Your Home Mortgage before Retirement

February 3, 2016 by  
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The-Importance-of-Paying-Off-Your-Home-Mortgage-before-RetirementMost homeowners await the day that they see their final mortgage monthly bill. Not only can they find peace that they no longer have a mortgage burdening them, but they also can also truly call their home their own. Advisors have long suggested homeowners to fully pay off their mortgage before they hit retirement. Unfortunately for many, financial hardship shows its ugly head and knocks people off the path to success. In order to achieve your goal, there are certain tactics that you can implement in your financial plans to make your retirement more enjoyable.

Increase Your Mortgage Payments

The increasing levels of debt building up on the backs of Americans continue to be both a pitfall and a hindrance. There are some advisors that recommend holding onto a mortgage to be able to write off interest payments. However, you’ll probably agree that no debt is good debt.

“Up” the Pace

One way that you can achieve a mortgage-free retirement is by paying biweekly instead of monthly. Doing so will increase the pace that you pay your mortgage without necessarily feeling the pinch doing so. Another option that you have is to refinance for a shorter length of time and opt for a better deal.

The Positives of Paying Quicker

By increasing your monthly payments or paying at a quicker pace, your financial well-being could benefit in the long run. By implementing a plan and executing it as strictly as you can, your retirement won’t be held down by a remaining balance of any amount.

Bio: Kuba Jewgieniew is the head of Realty ONE Group, a real estate brokerage firm that has helped thousands of homebuyers find the house of their dreams.

Tips for Showing a Property to Prospective Buyers

January 25, 2016 by  
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If you’re trying to sell your first house, you might have noticed the market is on the competitive side right now. This is because there are greater numbers of millennials entering the market, and these people have very specific ideas in mind for their first home. Here are some tips you can use to try and stage your home to sell for millennial buyers.

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Appearances

Millenial buyers are expecting a home not unlike the kind they see on television, so make sure you’ve given your property a fresh coat of neutral-colored paint. White works best, but earthtones can also accomplish this task if your home has the right color scheme. Have the grout on tiling steam cleaned to restore the white sheen of the mortar, and make sure your windows are cleaned. It might also help to invest in some modern-looking lighting or décor, which you can take with you to the new home when you’ve sold your existing one.

Stage the Home

Another technique agents like to recommend to home sellers is staging, which can be done professionally or on your own. Staging involves rearranging furniture to make the home look more inviting. Research some feng shui tactics, arrange couches so that living rooms feel open and inviting, and be sure your master bedroom is kept in impeccable condition. You might also stage various rooms of the house depending on what they might be used for. Even if you don’t have a need for a home office, you can attract potential buyers who do if you create one.

Lock Up Pets

When prospective buyers come to see the home, they won’t want to wrestle with man’s best friend to get through the gate. Even small dogs can be intimidating to people who are not dog people, so never assume your dogs get along with everyone. Cat can be particularly problematic thanks to the fur they leave behind in their daily routines. If you own cats, it might be best for you to board them while you show your property. Be sure to also give your home a thorough vacuuming to avoid offending the allergies of potential buyers.

Final Thoughts

Curb appeal is a big deal, so hire a gardener ahead of time and groom your lawn. If your lawn has been going gold for the drought season, give your sprinkler system a few extra minutes to green things up a bit. The investment is worth it when you close the deal on your home, and receive the check you’ll use for a down payment on the new property.
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Realty ONE Group is one of America’s fastest growing real estate brokerages. Led by Kuba Jewgieniew, the team at Realty ONE Group is focused on selling homes and dreams.

Allocating 30% of Your Budget to Housing Costs

December 22, 2015 by  
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Budget to Housing CostsHousing is one of the most important, and largest, purchases that people make today. You’re always going to need a roof over your head and when it comes time to shop for one, you’ll want the best for you and your family. But, many buyers get a bit too carried away and purchase a house that’s out of their budget.

The importance of limiting your housing cost to about a third of your actual budget will benefit your long-term finances. While this may seem contradictory, by doing this, you’ll be able to live comfortably and still take care of the costs.

Increasing your cash flow is a desire that many people have today. One of the ways that you can increase your cash flow is to increase your total income. But, if you’re not as fortunate, you can cut your expenses instead. By cutting housing costs, you’ll be able to increase your cash flow while on a budget.

If you’re spending only 30% of your budget on housing costs, you’re going to have 70% left to spend on whatever you want. You can pay off previous debts, place some in your savings, or even purchase things that you’ve wanted before but were never able to due to your financial situation. Imagine becoming debt-free and still having cash flow streaming through to your account. One of your goals is to build up a steady savings account, and by allocating 30% of your funds to housing costs, you’ll be able to achieve it a lot faster.

Bio: Kuba Jewgieniew is the head of Realty ONE Group, a real estate brokerage firm that has nearly 6,500 associates.

How to Allocate Less than Half of Your Funds to Housing

November 27, 2015 by  
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Housing is arguably the most expensive purchase that you will make in your lifetime. That being said, there are certain budgeting techniques that can be used to minimize the risk of a financial fiasco. To live comfortably, you should allocate a certain amount of money towards your housing expenses. Typically, 30% of one’s monthly income is recommended as it leaves room for comfort.

Downsizing is a good opportunity to catch up on late payments or to just give you some financial breathing room. If you have excess bedrooms and have decided that renting them out isn’t your thing, then seek out a smaller-sized property that provides all of the basic amenities that you are accustomed to but at a cheaper price.

By cutting down your housing expenses to 30%, you can experience an increase in cash flow. The remaining 70% can be allocated towards transportation, savings, debt, emergency funds, and the miscellaneous purchases that you’ll have to make. Why worry about your finances when you can control them in a proper manner? Keep in mind that there are inevitable incidents that are going to occur in your life that will require you to spend quite a bit of money. If most, or all, of your money is going towards housing, then it leaves very little wiggle room to take care of those expenses.

By increasing your savings and decreasing the amount of debt in your life, you’ll be able to put a lot more money into the enjoyable things in life like: hobbies, travelling, personal projects, etc. You shouldn’t have to live under the constant fear of debt. By aiming for a reasonable goal and lowering the amount of expenses towards your housing costs, you’ll slowly build up a financial blanket that will allow you to live comfortably.

Bio: Kuba Jewgieniew is the head of Realty ONE Group, a real estate brokerage firm that empowers their employees to succeed by providing the necessary tools and knowledge to propel them in their careers.

Investing in Real Estate for Older Investors

November 2, 2015 by  
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Investing-in-Real-Estate-for-Older-InvestorsWhen it comes to retirement investing, you have less room to gamble – especially if you are retiring within the next 5-10 years. Owning real estate has proven to be great for diversifying your portfolio and providing solid returns. It’s a low-risk option, which is great for older investors with a safe outlook.

Owning real estate is great for passive income. By hiring a property manager to handle the tenant’s needs, you won’t actually need to physically be there. The monthly rent that is coming in should outweigh the expenses being put out, such as insurance, taxes, etc. Passive income has often been underrated and can provide an excellent source of income.

Real estate investments, historically, have brought great ROI to investors. Having a balance of low risk real estate with the high volatility of the stock market can end up providing some solid returns back to you.

With high-net investors becoming more and more interested in real estate investments to provide that cherry on top of their portfolio, you’ll often see older investors seek out a plethora of properties to buy. Many high-net investors will look into residential real estate properties as they are the most in demand, followed by development land.

Before you jump straight into real estate, it’s important to understand how the market can fluctuate – don’t be surprised to see sudden dips. But with a safe approach and being how low of a risk real estate is, you can have a financial safety blanket in your portfolio by looking into this route.

Bio: Kuba Jewgieniew is the CEO of Realty ONE Group, a real estate brokerage firm with branches located in California, Nevada, and Arizona.