Are you thinking of downsizing your Lynchburg home in retirement, finding a better size for your empty nest, or have your payments just gotten too much for you? Whatever the reason there can be benefits to downsizing your current home. It’s simple, less home means less to care for. Cleaning, repairs, yard work, furniture can all get much simpler and less costly when you move to a smaller home.
Whatever your motive is for downsizing, an honest evaluation of your expectations is essential to make an informed decision. That’s why real estate agents say it’s wise to ask yourself these questions before you even start looking for smaller homes.
Does it make financial sense to downsize?
Moving into a smaller home doesn’t necessarily mean you’ll be saving money.
Besides the new mortgage, look at taxes, cost of insurance, fixes, and upgrades of the new home. There are also homeowners association fees to consider if you’re downsizing to a condo or townhouse. These fees include things like landscaping, maintenance of common areas, trash, and pest control. Consider the amount you will spend on these fees, and be mindful that HOAs tend to go up every year.
What are the financial implications of selling my Lynchburg home?
There’s more to consider than just how much you’re going to get for selling your Lynchburg home. There’s also local real estate transfer taxes, loan payoffs, home warranty, commission fees, etc., which will affect your bottom line. The Real Costs of Selling a House in Lynchburg
You need to be aware of how this home sale affects your overall financial picture in regard to possible property tax increases or basis transfers and capital gains tax, and how that fits into your long-term financial planning.
What will I do with all my stuff?
While moving into a smaller house may have clear advantages (like less cleaning and yard maintenance) it’s essential to ask yourself if you can break the ties with your larger beloved family home. You should really think about what you want to keep instead of what you want to get rid of.
Do you have a home gym, office setup, a guest room for visitors, or multiple sets of furniture? Deciding what you really need to keep will help you decide how much room you really need. This in turn helps as you decide how small the next home can truly be.
Wondering if should you downsize your Lynchburg house? And how you’ll ever sell the one you’re in?
Downsizing can be brought on by financial concerns, an empty nest, retirement or other factors. As welcome as the lifestyle change might be, making it a reality has a potentially major obstacle, selling your current house.
You’ve probably been through this before—making long-postponed repairs, cleaning like never before, clearing out of the house to make way for showings, leaving it on the market for an uncertain period of time,it can be a lot of upfront cost and take weeks or months.
Linken Investments can buy your home exactly as it is, no repairs or cleaning needed, and we pay all cash and close fast, in as little as 7 days or when it works for you. Plus, we don’t charge commissions, and we pay all closing costs. Think of all the time and money that can save you. There’s no easier or quicker way to sell your house and get on with the next chapter in your life.
We’ll even buy it with the furniture and contents you want to leave behind so you don’t have to pack up and move them.
It won’t cost you any money and only about an hour or so of your time to find out how much cash we’ll pay you for your house. And you’ll be under no obligation to accept our offer, so you have nothing to lose but a house that’s standing between you and the life you want to enjoy.
About Linken Investments LLC.
Here at Linken Investments, we are cash house buyers. We have been investing in Lynchburg Real Estate since 2007. We’re a family-owned business and focus on helping homeowners like you who need to sell a house fast (especially houses that need work) by buying your house for cash… then we and our local partners fix up the property, beautify the neighborhood, and sell it “move-in” ready to a happy new home owner.
Don’t worry about repairing or cleaning up your property. We’ll buy your house in as-is condition… no matter how ugly or pretty it is… no matter the location. We close fast and pay cash in as little as just 7 days.