Diana Lopez De Castro's Blog
Congratulations on your recent home sale! Now, you just need to figure out how to tell family members, friends and other loved ones that you'll be packing up and moving out of your current residence.
Informing loved ones about a home sale may seem challenging at first. Fortunately, we're here to help you keep your cool as you tell loved ones that you've sold your house.
Here are three tips to ensure you can avoid the stress and headaches sometimes associated with informing loved ones about your decision to sell your home.
1. Get Ready for Questions
Loved ones have your best interests in mind, and as such, likely will have many questions about why you sold your residence.
What prompted you to sell your home now? How much did you receive for your home? And where do you plan to live in the future? These are just some of the questions that you should be ready to face from family members, friends and other loved ones.
Moreover, answer loved ones' questions as best you can. And if you are uncertain or uncomfortable about answering a question, you can politely decline to respond.
2. Keep an Open Mind
Things will move quickly after you sell your home. Although you may have plans to buy a new residence or relocate out of state at some point, you might still need time to finalize your next move.
Oftentimes, loved ones may pressure you to move in a certain direction following your home sale. But it is essential to keep the best interests of yourself and your family in mind at all times.
If family members or friends pressure you to make a move that makes you feel uncomfortable, let them know. Remember, your loved ones want you to be happy, and they should be willing to listen to your concerns after you share the news that you have sold your residence.
3. Operate Fearlessly
After you accept a homebuyer's offer for your residence, the toughest part of the home selling journey is over. At this point, you can finalize your home sale and move forward with the next stage of your life.
It takes a lot of courage to sell a house, and you should maintain this confidence as you tell loved ones about your home selling decision.
Regardless of how a loved one feels about your decision to sell your house, what's most important is how you feel about your choice. If you believe you made the best decision possible, you should feel good, even if family members or friends disagree.
When it comes to telling loved ones about your home selling decision, don't forget to reach out to your real estate for assistance. This real estate professional understands the challenges of informing family members and friends about a home selling decision and may be able to offer expert guidance. That way, you can remain poised and confident as you share your home selling news with others.
Have you ever driven through a neighborhood or down a country road, seen a cobbled-together add-on and done a double-take? Historically, home additions tend to stick out like the proverbial sore thumb, with each new add-on displaying the most recent design trend without regard for the original style. Thus, you'll see a typical ranch-style home with a mansard or hipped-roof add-on or a modern sunroom from an entirely different era appearing as if by magic from the side of a craftsman bungalow.
Failing to match a home’s original style is not new. Castles dotting the English hillsides or lining European rivers have jumbled wings from even different centuries, and palaces and cathedrals bear the stamp of each successive architect’s desire to make a name for himself. But when it comes to your home, mixing styles and eras could be a losing proposition when the time comes to sell.
Hire a professional
Before you begin an addition, hire a licensed design contractor to discuss your home's current style and how your renovation or addition might enhance its curb appeal and carry the same theme through the complete interior and exterior of the house.
New structures should be in balance with the existing building, and although it might not have symmetry, the combination of new and old should have unity. To achieve this, bear these things in mind:
- Windows: if the new windows are double-hung with multiple lights (several small panes or a grid), then change out the old windows to match. Don’t mix aluminum sliders with wood casements (those with crank mechanisms). In other words, add some extra money into the renovation to match up the window types.
- Exterior materials: a lovely mix of brick, stone, and stucco (or plank siding) gives a home that coveted old-world feel, but a random mash-up looks, well, like a random mash-up. If possible, extend the existing outside material to the new addition. Where that isn’t possible because, for example, a brick color or style no longer is available, consider painting everything to match to give continuity.
- Rooflines and materials: adding a gambrel roof to hipped roof or a mansard to a ranch probably won’t earn you any design awards. If the existing roofline is not what you want, have your contractor update it to match the addition. A mix of roofline styles is disconcerting and screams “add-on” rather than professional addition. And watch the mix-up of roofing materials too. A lovely new metal roof on the new part with a dated three-tab asphalt shingle on your existing roof gives your home a discordant aspect — either roof the latest addition to mimic the old, or re-roof the whole thing.
If you genuinely want to add a different style, consider modifying the existing home to match the new style for a unified impression. And, if you're considering an addition to increase your home's value for a quick sale, check with your real estate professional first. There's nothing worse for your renovation's bottom line than an addition that nets a loss rather than a gain to your resale value.
You’ve never owned your own home and your thinking about buying. Transitioning mentally from renter to owner can be confusing at times. As a renter, you haven't had to deal with the ins and outs of owning your own home, and as you examine the reality of ownership, it can seem like it involves more cons than pros. You have to take care of all maintenance, repairs, insurance, upgrades and more. With all the added work to maintain only to one day resell your home, it might not seem worth it. So why is buying a good idea? Here’s why!
Consistent monthly payments
As a renter, you constantly are subject to rent increases. Depending on your city or neighborhood, this might be a small percentage annually (if your rental unit is under rent control), or an annual increase determined in your rental agreement. In many cases, your rent is subject to your landlord’s discretion at the end of each term of your lease, and if the property value and quality of living go up in your neighborhood (as you hope it does), it could price you out of your favorite living space. When you choose to purchase a home, you make a longer commitment, but your monthly payments are guaranteed to be the same throughout the repayment of your fixed-rate mortgage. Living with no surprise changes allows you to set budgetary and lifestyle goals further into the future, and the certainty to achieve them.
Equity and future cash flow
Yes, you will likely need to take out a loan to purchase your own home. The upside to ownership is that every mortgage payment you make increases the percentage of equity you have in your home. When you rent, you are only paying toward the term of your lease and the owner of the rental property gains all the equity. Investing in your own property helps your financial stability for the future. The more equity you have, the better your net worth and the more you can invest in other properties or goods. The more stake you have in your home, the more valuable it becomes to you when you want to sell your property in the future—to create cash flow, or to invest in a new home, other property, or your retirement lifestyle.
Apart from the personal value of owning your own home—taking care of it, raising a family there, or starting a new life in your place—the investment can add even more value to your life. If you’re considering your first home purchase and aren’t sure about the commitment or investment value, speak with your local real estate agent for the best advice for you. Review your current means, your interests and abilities, and your life goals and let them help you make the right decision.