Jared Wilk Group's Blog
When you sell your home, there’s a cost associated with getting a return on your investment. Certain mistakes that many sellers make when deciding to sell their home can actually cost thousands of dollars in expenses. Before you decide to sell, read on to see what you can do to avoid unnecessary consequences.
Hire A Professional To Sell Your Home
Many people think that they can sell their home on their own. It’s the best practice to hire a professional to sell your home. Even in a seller’s market, a realtor can help you to get the best price on the sale of your home.
Remove Your Things Before The Sale Of The Home
Your clutter will undoubtedly affect the value of your home. People can’t see what their life would be like in your home if there’s too many things in the way. While one man’s trash sometimes is another man’s treasure, it certainly isn’t in the case of selling your home.
Don’t Leave An Empty House For The Showing
While too much clutter is bad, it does make a difference for the home to actually be lived in. If possible, don’t leave a completely empty home. Buyers need something to help them visualize what life will be like living in the home. Home searchers want to see how functional the home will be for them.
Don’t Neglect Repairs
You should take care of any repairs that need to be made before your home goes on the market. Any repairs that you don’t make will likely be discovered during the home inspection. Before you even list your home, make sure that you take care of any major issues that are around your home like a leaky roof or cracked tile. This will save you a major headache later, because you won’t need to scramble to fix things after the home inspection. Buyers will also be more impressed with the home if there’s little to fix.
Don’t Overprice Or Underprice Your Home
If you don’t properly price your home, it could lead to a few major issues. You may be left wondering if you could have made more money on your home. On the flip side, your home could sit on the market for a long time, leaving buyers wondering what could be wrong with your property as to why it’s not selling.
Be Sure To Stage The Home
People will purchase a home based on what they see and how they feel. If your on-the-market home doesn’t look polished, there will be less interest in it. You don’t need to go overboard and make your home look like something out of a magazine, just make sure it’s clean. Things like dirty laundry on the floor, trash laying around, and papers on the tables are big turn offs for buyers.
With a little planning, the sale of your home should be a smooth and profitable one.
Estate planning is as important as having a solid life insurance policy, the type of life insurance policy that will remain effective until or after your passing. Universal and whole life insurance policies are types of insurance policies that remain effective to and after the point of death. But, life insurance only offers certain types of protection for your children and any other beneficiaries that you list on your policy. Broader protections come through estate planning.
Estate planning basics
At its basic level, estate planning is the process of setting up who will manage your property after you are gone. How your property will be disposed of is also a part of estate planning. A will is a key instrument used with estate planning.
Items included in the estate planning process are:
- Your house or houses
- Land that you own
- Businesses that you own
- Patented products or services that you developed
- Your retirement accounts
- Life insurance policies
- Bank accounts
- A will
- Personal foundations
- Burial plans
Even if you own a business that generates less than one million dollars a year, it’s a good idea to create a plan for your estate. When creating your will as part of your estate planning, it may be a good idea to have a living will. It is in a living will that you state whether you want to be cremated or buried. You can also layout these details in a burial plan.
Probate is another major component of the estate planning process. Generally, with probate a public announcement is made after your passing. These announcements are often published in newspapers. It’s through the announcement that your living relatives can become aware of your passing and begin to become aware of and participate in the estate planning guidelines that you established. A court appointed representative will oversee the probate process.
Benefits of estate planning
As you start the estate planning process, it may become increasingly clear to you how important it is to make decisions that set your children and extended family up for success. For example, you may see benefits associated with owning a home,land and business properties.
You may also see why it’s important to own property that continues to grow equity. Features to look for in a house that you plan to will to your children are the area where the house is located and the history of the area. The size and type of house that you buy is also important.
If you buy a house that sits on several acres of land, your purchase could benefit your family for generations. Your adult children may not have to pay for a house due to the fact that you will them yours. Money that they save could be put toward a better post-secondary education.
Work with an experienced estate planning attorney. A good attorney partnership could help you and your children to avoid paying unnecessary taxes. Estate planning may also reduce conflict that your children and extended family members might experience. For example, good estate planning could keep family members from fighting over your property. Also, remember that you do no need to be wealthy to conduct estate planning.
Andover, MA 01810