Author: James Andersen

We’ve all heard the saying, 40 is the new 30, but does that carry over to every area of life? We are living longer and healthier than anytime in history, but is there an age limit for a major purchase, like a home? 

I’m Too Old To…

Here’s another old saw, one that’s increasingly true: Age is just a number. Our definition of elderly is rapidly changing. People are not only living longer, they are living healthier. Generations ago, folks who made it to their eighties were usually infirm. Now, we see octogenarians running marathons and graduating from college. Advancements in medicine and in the way we understand health and fitness have given us not only a longer life, but a better quality of life. Many people who, 20 years ago, would have been considered too old to purchase a home are now buying, without considering their ages. This is good news, if you are approaching middle age and are contemplating a home purchase.

What You Should Consider

You want to buy a home. Great! But before you dive into the housing market, do some research. There are questions you must ask yourself before you sign on the dotted line.

• Need vs. want. It’s easy to get caught up in all the bells and whistles of a new home purchase. Evaluate what you need. Think about how this home will serve your plans. If you want to live in this house permanently, your needs at 45 will be different than they will be at 75. Look for a home that can grow with you as you become older. You may want to buy a home with enough bedrooms to accommodate sleepovers with the grandkids, but what if those grandkids live out of state? Make sure your home suits your daily needs before you think of your wants.
• Don’t settle for a bad mortgage. The 30-year mortgage has been the industry standard for years. If you are in your 20s or 30s, it’s probably the best mortgage for you. But what if you are in your 40s, 50s or 60s? If you plan to pay off your mortgage while you are still working, a shorter 15-year mortgage may make the most sense.
• What will your retirement look like? Do you plan to settle down and garden? Or do you plan to hit the road in a motor home and travel the country? Your home purchase should reflect your retirement plans. If you plan to use your retirement to travel, a large home purchase may not be right for you. 

Asking questions is the first step in your planning. If you need direction on the best path to take, give our agents a call. Buying a home can be the single best investment you can make. We can help you make that vision a reality.

Spring is here, which typically means it’s the perfect time to list your house for sale. People are ready to head out to house hunt, after being cooped up at home during the winter. Flowers are blooming, birds are singing and there is a feeling of renewal that makes home shopping so attractive. But we are not experiencing a normal spring. COVID-19 has changed the fabric of commerce in a very short amount of time. Is it still a good idea to put your home on the market? The answer: it depends.

Pros to Listing Now

Mortgage rates are very competitive right now, spurring prospective homeowners who want to capitalize on those low rates. Since low rates mean lower mortgage payments, this is extremely attractive to potential buyers. There is also less buyer competition, which means there is less chance of finding themselves in a bidding war.

Cons to Listing Now

Potential buyers are feeling the uncertainty of the job market and may be concerned about their income. This may lead potential buyers to put their plans on hold until the situation stabilizes. Social distancing concerns also make it difficult to view homes, work with realtors or mortgage companies, and feel secure in making the right decisions during this time. Buyers and sellers alike are probably concerned about safely moving during the pandemic.

Find the Right Agent

So, what’s a seller to do? The most important step in selling your home in any situation is to find the right agent. Experienced agents have the tools that are necessary to get you the price you want in the quickest time possible. COVID-19 is changing the face of real estate, but the right agent can be ready with options that still make selling your home possible. Ask if your agent is experienced in virtual tours, digital consultation and document signing options. If he isn’t, shop around until you find an agent who is well versed in technology. The uncertainty of the times we’re living in has changed the look of everything we do. Shopping, entertainment and socializing have been put on hold until we flatten the curve. Even though the prospect of selling your home looks different, At Voila! it doesn’t have to be impossible. Let’s connect to discuss your options.