There are many advantages to owning a smaller house for senior homeowners. Many find that less space is desirable during their golden years. Cleaning and maintaining a smaller home equates to less overall work and lower expenses, some rather dramatically. The decision on how you sell your larger home needs to include all of the potential costs that accompany each type of sales method. Understanding these expenses can help you to make the best choice for your situation. Should you find yourself at this stage of life, read on to learn these 4 things that seniors should know about downsizing their homes in Baltimore.
1. The P.I.B. Factor (Pain in the butt)
Especially during your golden years, when you are ready to begin downsizing your home in Baltimore, the thought of a traditional real estate listing may seem too complicated to take on by yourself. Especially since the internet is where most buyers begin their search for housing in today’s market. Another factor when listing your home is paying outrageous commissions and fees. On the flip side, you have someone else who handles all of the legal paperwork, marketing, and showing appointments. Regardless, the thought of strangers walking through your home and looking at your personal possessions can be unsettling. And let’s face it, keeping everything picture perfect at all times is not easy, even on the best of days. Not to mention sitting at the bargaining table while buyer after buyer makes low offers for your home.
2. The Clean-out
Cleaning out a house can be both physically and emotionally difficult when seniors are downsizing their homes in Baltimore, especially if they have lived there for a long period of time. Part of the very reason you may be selling is the fact that your home is already too much for you to maintain, add in clearing and packing and you may find yourself exhausted. If you are not able to do the work yourself, it is likely you will need to hire someone to help you, which can be costly, depending on how large your home is and how many possessions you own. Because every corner is filled with happy memories that you are leaving behind you may become emotionally drained as well. When you know you are letting go of these things, it is very easy for valuable time to slip away as you go back in time, looking through each room, emptying closets, and sorting through boxes full of belongings.
3. Repairs can be Expensive
Inspections and appraisals are an integral part of the traditional home selling process, leading many sellers to spend thousands of dollars when they are ready to begin downsizing their homes in Baltimore. In order to pass inspections, it is entirely possible that you could end up facing overwhelming repair bills for an issue you were not even aware of previously. Real estate professionals know that many buyers lack the imagination required to realize the potential you may feel your property possesses, with no ability to see past anything that is in a state of disrepair, simply worn or even outdated. The upgrades required to modernize and refresh a home can be anything from replacing aging cabinetry to installing new flooring in part or all of the property. You may need to replace woodwork or paint the interior and exterior of the home. All of these costs can add up very quickly and must be met prior to ever realizing a profit on the home. For that matter, it must be complete before ever listing the home for sale. As time passes, your bills only continue to rise as more and more of your potential profits slip away.
4. Sell it Another Way
Consider a direct sale to Maryland Home Buyers, which can be a much better option for you! We take the time to listen to your situation and understand your goals for now and the future. We are happy to help you with this decision. If listing with a real estate agent is a better option for you, we will tell you so. Should you choose to work with us you can just pack what you want to keep when you are downsizing, by selling your home in Baltimore directly, without any more showings to worry about. You can also save all the time and costs involved in a deep clean of your larger home when you sell directly. In many cases you can just leave behind any items you would rather not take along to your new residence. You can leave the monthly payments behind too. Working with Maryland Home Buyers means eliminating most of the normal fees associated with traditional closings. The price that we offer is the price you get. You will also forego the fees normally associated with the required reports from appraisals and inspections in most cases. Especially on newer or more recently renovated properties. Complete our short form or call us today at (410) 657-2523 to learn just how quickly we can help you start saving money!