Rev Up Your Retirement: Get the Best Price for Your Home
Even if your retirement seems far away, it’s never too early to think about retirement funds. For many people, retirement means selling their current home.
Data from a recent survey show that more than half of the baby boomer generation plan to sell their current homes as part of their retirement. If selling your home is on your retirement agenda, a little thought now about how to get the best price can make a big difference when it’s time to put it on the market.
Here are some small steps that can pay off in a big way:
• Control the clutter. Start now by going through some of that old memorabilia, and choose what’s really important to keep and move. When you’re ready to show your house to prospective buyers, think “less clutter.”
“Buyers shouldn’t be distracted from imagining themselves living in your space,” says Patsy O’Neill, a sales associate with Sotheby’s in Montclair, New Jersey.
• Keep remodeling sensible. Just because certain home designs are trendy now, doesn’t mean they’ll stay that way. Also, keep in mind that many prospective buyers of older homes would prefer to do the remodeling themselves, to suit their own needs and tastes.
• Consider first impressions. Don’t underestimate “curb appeal.” Roof replacement spruces up your home, and potential buyers will appreciate it from down the street, before they even walk through the door. Roof remodeling consistently ranks highly in Remodeling magazine’s annual Cost vs. Value report.
According to O’Neill, a worn roof is “a huge turn-off” to potential buyers and “makes people predisposed to find even more things they don’t like.”
Another upside: roof renovations can be very affordable. For example, the Value Collection Lifetime Designer Shingles from GAF (www.gaf.com), North America’s largest roofing manufacturer, provide an instant upgrade to your home without the cost and hassle of a major indoor renovation.
Address major safety issues, such as electrical capacity and boiler condition, before putting your home on the market, and you’ll be that much more appealing to interested buyers.