How to sell your old home to young buyers

Let’s face it … we’re not getting any younger. And at some point, the time will come for a generation of Baby Boomers to sell their homes. While these homes have served us greatly for many years — perhaps many decades — will they appeal to today’s young, tech-savvy consumers?

In 2018, 43 percent of home buyers were millennials in their twenties and thirties. Currently, they are the largest purchasing group in the country. Will your home, in its present state, appeal to a younger generation?

Following are some tips that will help make your home more appealing to today’s young home buyers:

  • As the seller, have your home pre-inspected to determine what must be done before putting the house on the market.
  • Buy a home warranty, which will reassure buyers that they won’t be faced with major repair expenses during the first year of homeownership.
  • Is your home decor a bit outdated? Offer a credit for repairs so buyers can put their personal touch on the property.
  • Lighten and brighten by cleaning windows, updating light fixtures and applying a fresh coat of neutral paint.
  • Create a list highlighting neighborhood amenities such as recreational facilities, shops, gyms, restaurants, etc.
  • Eliminate clutter to give the house an open-flow feeling.
  • Have access to a drone? Drone tours of property and neighborhood are hot selling tools.
  • Add smart home features such as wireless security, smart bulbs, water sensors, smart locks, remote-controlled shades, etc.

For more information and tips for home sellers, please contact The Olear Team today!

Happy Thanksgiving. What are you thankful for?

On Tuesday, Nov. 20, James Conley, a Licensed Real Estate Salesperson and partner at The Olear Team at MJ Peterson, will join other volunteers at Buffalo’s City Mission for the organization’s annual Turkey Drop.

Located at 100 E. Tupper St. In Buffalo, the City Mission provides meals, shelter, educational assistance and spiritual guidance for those in need. The Turkey Drop will provide 100 turkeys to families needing assistance throughout our community.

Volunteer opportunities such as this are very important to The Olear Team, especially at this time of year when we are reminded to count our blessings and to be truly thankful for everything we have.

We are honored to offer our assistance to this greatly needed nonprofit organization, and we wish you and yours a very happy Thanksgiving!

Some ‘upgrades’ can downgrade the value of your home

If you’re in your home for any length of time, at some point thoughts of renovations will race across your mind. But did you know there are some renovations that are better left on the drawing board, especially if you might be selling your house at some point in the future? Following are some renovations that may give you second thoughts:

Let’s start in the kitchen. While updates and minor renovations are certainly encouraged from time to time, beware the urge to go too high-end as you may not see an equal return in investment. And that new sunroom you’re considering? Same issue; very small return on investment potential.

Other renovations that can impact your home’s resale value include combining two bedrooms to create a larger room, and removing closets. The number of bedrooms will impact your sale price, and people love having lots of closet space. Beware renovations that turn closets into something else. Converting a bedroom into an office can also have a negative impact when it’s time to sell.

Be careful with the upgrades. Going too lavish, too bright or too quirky are not good things. If you plan to sell some day, think neutral along the way.

Also shy away from things like too much wallpaper (difficult to remove) and too much carpeting (hardwoods are always in).

Avoid the urge to turn your garage in something it’s not, such as living space. Use that space for what it’s intended — a place to safely store your vehicles, bikes, tools, yard equipment, etc.

Turning our attention outdoors, think twice about adding that swimming pool and/or hot tub due to ongoing maintenance, expenses and potential safety hazards. And don’t get too carried away with the landscaping. Trees are pretty but they can also be very messy.

Finally, unless you really know what you’re doing, stay away from do-it-yourself repairs and hire a professional who will get the job done right!

For more information and tips on what can help or hurt a real estate transaction, please contact The Olear Team today!

Home closing checklist for sellers

Selling a house can be a long, complicated process. There are, however, several steps you can take to ensure that the process runs as smoothly as possible. Following is a home closing checklist for sellers that will help guide you through this transaction.

  • Clean the house from top to bottom, inside and out. Don’t leave a mess behind for the new owners. Would you want someone to do that to you? If you don’t have time to clean, hire a professional to assist you.
  • Gather important documents. You might even make this part of the house-cleaning process. Go through your file cabinets and paperwork and pull anything house-related for safekeeping. Having important documents in-hand and ready will indeed speed the overall selling process.
  • Perform a final walk through and shut off utilities. Make sure nothing is leaking and quickly deal with any issues that could delay closing.
  • When the sale is complete, remember to cancel your insurance policies and close accounts associated with the home such as utilities and even newspaper delivery. You should also change your address with the U.S. Postal Service.
  • Make sure any keys, remote control devices, appliance manuals, etc. are left for the new owners. Other than that, don’t leave anything behind that wasn’t part of the contract. The new owners likely don’t want the old piano or pool table that you didn’t feel like dealing with.
The only thing left to do now is to turn off the lights and secure the home for the next owners! For more information and tips on selling a home, please contact The Olear Team today!

Now that you have read our home closing checklist, learn about 5 Costly Seller Mistakes and request a free report.

Post-retirement life: Is home-sharing in your future?

One fact that everyone can agree on is that America is aging. And while it’s true that Americans are living longer than ever before, one negative to come out of that situation is that it comes with a financial cost as many seniors are simply outliving their savings.

As a result, some seniors are forced to sell their homes and look for less expensive housing options, while some might even become homeless. Not wanting to give up their freedom and independence, other seniors are willing to look into a unique alternative called home-sharing.

Let’s say you’re in your senior years and your spouse has passed away and the kids are spread across the country. Is having a roommate share your home, housework and expenses the answer to your problems? Here are some of the positives:

  • You can stay in your home longer if your finances begin to dwindle.
  • Your roommate, who could be much younger, can share the housework.
  • You can keep your independence longer.
  • Plus, you get the added bonus of companionship.

Obviously, home-sharing is not for everyone. For those who will consider it, you must be clear about your expectations when searching for the ideal roommate, and you must have a huge amount of trust.

If home-sharing sounds like it just might work for your situation, we suggest contacting a licensed social worker to assist with your search. For more information on home-sharing and alternative housing for seniors, please contact The Olear Team today!