If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place
It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home. As Danielle Hale, Chief Economist at Realtor.com, explains:
“ . . . homeowners who locked in a 30-year fixed rate in the 2-3% range don’t necessarily want to give that up in exchange for a rate in the 6-7% range ”
But your lifestyle and your changing needs should matter more Here are a few of the most common reasons people choose to sell today Any one of these may be more important than keeping your current mortgage rate
As Ali Wolf, Chief Economist at Zonda, says in a recent tweet:
“First-time and move-up buyers are both active . . . the latter driven by life changes Divorce, marriage, new higher paid job, and existing home unsuitable all referenced ”
Some of the things that can motivate a move to a new area include changing jobs, a desire to be closer to friends and loved ones, wanting to live in a dream location, or just looking for a change in scenery
For example, if you live in suburbia and just landed your dream job in NYC, you may be thinking about selling your current home and moving to the city for work
Many homeowners decide to sell to move into a larger home This is especially common when there’s a need for more room to entertain, a home office or gym, or additional bedrooms to accommodate a growing number of loved ones.
For example, if you’re living in a condo and decide it’s time to seek out a home with more space, or if your household is growing, it may be time to find a home that better fits those needs
With inflation driving up everyday expenses, homeowners may also decide to sell to reduce maintenance and costs Or, they may sell because someone’s moved out of the home recently and there’s now more space than needed It could also be that they’ve recently retired or are ready for a change
For example, you’ve just kicked off your retirement and you want to move to somewhere you can enjoy the warm weather and have less house to maintain Your new lifestyle may be better suited for a different home.
Divorce, separation, or marriage are other common reasons individuals sell to buy different homes
For example, if you’ve recently separated, it may be difficult to still live under one roof Selling and downsizing may be better options.
If a homeowner faces mobility challenges or health issues that require specific living arrangements or modifications, they might sell their current home to find one that works better for them.
For example, you may be looking to sell your home and use the proceeds to help pay for a unit in an assisted-living facility.
“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestylebased Your future plans and goals should be a significant part of the equation
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First, take the time to understand the 3 laws that govern what the bureaus and creditors can do and your rights throughout the process. These are the Federal Credit Reporting Act (FCRA), Credit Repair Organizations Act (CROA), and the Fair Debt Collection Practices Act (FDCPA). Use standard dispute procedures to remove inaccurate trade lines from your credit report. Your best chance of success with this method is by mailing dispute letters to the credit bureau in which the inaccuracy on your report was found. Follow these recommendations to increase your chance of success
Settle ALL of your outstanding negative accounts with creditors and collectors for a complete deletion of negative information After that, get in the habit of paying off your credit card balances each month and never falling into delinquency with creditors PLEASE NOTE! In many cases, paying collection accounts will lower your credit score For this reason, we can’t stress the importance of becoming educated on the law before beginning your credit repair journey. What makes common sense doesn’t always make credit sense!
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There are a few nostalgic trends that have faded from memory, but like most decor trends, there are some that have come full circle and are now more popular than ever
Brown is, once again, back in vogue, and is now being touted as the color to replace gray This season sees a return to simple, restrained palettes – and being close to nature has moved from greens of the forest to a soft, neutral palette of fossil tones and natural elements, such as stone, textures of cotton and linen with soft earth and milky browns, clay putty tones as a contrast.
With the emphasis today on the home as an inviting family-friendly space – used for socializing and relaxing
regimented rows, straight lines, and clinical design can look a little stark and cold, which is why curvaceous design has come to free from this mundane rigidity. 'Using curved lines within a home offers a wealth of benefits, including the potential to add both flow and dynamism,' says Charu Gandhi, interior designer and director of Elicyon.
One of the most appealing finishes for kitchen cabinets, paint lends itself to both the classic looks of the traditional kitchen and crisply modern linear designs The advantage is in its almost limitless choice of colors, allowing you free rein to express yourself, whether your home is period or contemporary, country or urban – and you can always repaint if you decide to update
If you want to express your personality in your home, maximalist decor is the way to do just that With clashing patterns, riotous color palettes, and impressive (and enormous) collections of objects, this home decor trend is having its well-deserved moment in the spotlight.
broken-plan living room ideas are the new, postpandemic, practical alternative to open-plan spaces. Broken plan layouts allow you to create a wide range of clever and inspiring ways to make your space work for you. The broken plan layout is essentially the midway point between open plan and traditional separate rooms, broken plan is the division of rooms, either partly or temporarily. Think screens, partitions, and even the intelligent use of furniture and room dividers.
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