2021 is predicted to be a good year for the housing market and, in particular, sellers. Inventory is low, demand is high, and people are buying. Now is a great time to price your home to sell fast.

Last fall, 7 out of every 10 homes for sale were on the market for less than one month.

Needless to say, it’s a sellers’ market.

The good news is that the odds are in your favor. The first thing that comes to every sellers’ mind is the price. How much is too much? Am I not asking enough? You don’t want to give your house away, but when you’re short on time, you want to price it to sell quickly.

Keep scrolling for more tips on how to price your house to sell fast.

1. Get an Online Estimate

Much like the rest of the world, the real estate market has evolved with the challenges of the past year, and it’s easier than ever to get an estimate on your house without leaving the couch and meeting with a real estate agent.

iBuyer.com offers a free service called iValuation, an online home value estimator. All you need to do is plug in your address and the site uses industry insights, big data, iBuyers, and market trends to give you a fair market value assessment for your home.

After you plug in your address, it will ask you whether your home is a single-family, condominium, or townhouse. Next, it will ask you if you’re working with a realtor and how fast you’d like to sell your home. After a few basic questions about the condition of the interior, you’ll receive an estimate in your email.

This is a great jumping-off point to get the ball rolling on pricing your home to sell fast!

2. Do a Comparative Market Analysis (CMA)

Don’t let these big words scare you. You can do this on your own, and it’s really not too difficult.

A comparative market analysis takes a look at how similar homes are selling in your area.

When you’re considering selling your home, you’re probably thinking of factors such as the number of bedrooms and bathrooms, square footage, etc. However, there are other things that come into play such as the condition of the property, lot size, indoor and outdoor features, and the overall national market.

Realtors tend to use the rule of three in a CMA—they look at three similar homes that have sold in the last three months in the same area. They have software at their disposal for this. If you’re doing it yourself, here are some tips for where to get the information on your own online.

The CMA is more in-depth than just getting the prices of recently sold homes and comparing them. Here are some factors to take into consideration:

1. Look at the neighborhood in depth. How close are public offices (police, fire) and grocery stores? What’s the school district like? Is there a Homeowner’s Association?
2. How big is the home you’re comparing? How old is it, and what’s the curb appeal like? What year was it built?
3. Does the home have a unique location, i.e. on the water?

Once you’ve got this information on at least three homes, you’ll want to look for adjustments. This includes amenities that your home has that the comparable homes do not, or vice-versa. An example would be if the comparable house has an extra bathroom, bedroom, etc.

Finally, you’ll want to calculate the average price of each comparable house per square foot. To get this price, you’ll want to divide the adjusted price of the comparable homes by their square footage. Then, add the sold price per square foot and divide by the number of comparable homes to get the average. price. After that, multiply the average by the square feet of your property. This will give you the current market value.

3. Learn From the Mistakes of Other Sellers

Other sellers’ mistakes are your bread and butter. You can either learn from them or repeat them.

For instance, if a house in your neighborhood was on the market for a year and it just sold, look at the stats, were they asking too much in the beginning? Did they have to drop the price to sell it? All of this information is public, and it’s in your best interest to search it out.

4. Don’t List for an Obscure Price

If you own a home, it means that you’ve been on the buyer’s side in the past. Think back to what you were looking for.

Let’s say that you knew that you could only afford a home for under $300,000. Did you still peruse listings for homes that were listed at $299K? Probably.

Also, think about the metrics that realtors use on their sites when you’re searching for your next home. While the jump between $199,000 and $200,000 is relatively small, it can be the difference between which price bracket your home falls into.

Finally, make it an even number. If you list your home for $248,570, potential buyers will likely scroll right past it. And speaking of being on the buyers’ side…

5. Reverse Your Perspective

We all have an emotional attachment to our homes, regardless of how long we’ve been living in them. Maybe you’ve watched your children grow up in this house, maybe it was your first house, or maybe it was passed down to you by a family member.

However, you have to put these feelings aside to assess the true value of the home.

Use your Comparative Market Analysis (CMA) to assess whether or not surrounding homes are worth more (or less) than your own without the personal feelings attached.

The bottom line is, the higher you price your home, the longer it could possibly take to sell it.

6. Don’t Be Afraid to Change the Price After Listing

We all want to be “right” the first time, even when it comes to selling our homes. However, don’t be afraid to lower the price after listing to sell faster. It’s recommended that you don’t make small, frequent price changes, either. Lower the price once and stick to it.

This includes raising the price, too. Did you make upgrades to your home after you listed it? Adjust the price to reflect that and include said upgrades in the listing.

It doesn’t have to be a huge increase, either. The difference in pricing brackets for homes can vary by as little as $1,000, and you’ll reach a whole new demographic of potential buyers.

7. Stay Motivated

Buying and/or selling a house can be incredibly stressful, especially if you allow your emotions to get in the way. You might feel offended that somebody made a low offer on your house; on the contrary, you might be super ticked off that the seller rejected your offer on their home.

Try your hardest not to let your feelings get in the way of making a fast sale.

Also, get your listing out to as many platforms and websites as possible. Facebook Marketplace (and Facebook in general) has become a very popular tool for realtors. There’s more than used furniture for sale on there nowadays.

We may live in a digital world, but it never hurts to get your listing out on paper. Post flyers in public places. The more eyes you can attract to your listing, the better. Make it big, eye-catching, and simple—even people who aren’t in the market will take a look.

8. Declutter, Rearrange, Make Small Repairs

Staging your home is just as important as pricing it correctly to move on the market. Curb appeal is the first thing that potential buyers see when they pull up to your home, and that’s relatively easy to fix.

However, the inside is what they’re really looking at.

These three words are super important: stage your home.

Pack up anything personal to you. You want to make your home appear as though the buyer can picture themselves living there, and they can’t do that if you’ve got a wall full of pictures of your extended family.

Keep your furniture and decor basic so that it looks move-in ready to the buyer. You want them to be able to picture their own furniture in your house.

Make small repairs throughout your home. Small things like paint touch-ups, a new toilet seat, or replacing an old light fixture can be the difference between selling your home in a week or selling it in six months.

9. Go to Open Houses in Your Area

If you’re still confused about how to price your house to sell fast, take a Saturday and Sunday afternoon and tour homes for sale in your area. Look at what others are selling their homes for, and what you’d get for that price. Then, make the appropriate comparisons to your home.

10. Get an Appraisal

The old adage is, unfortunately, true. You’ll have to spend money to make money, and paying for an appraisal is a perfect example of this.

An appraiser’s sole job is to determine the market value of a home. This will not be the same as the assessed value that you receive on your property taxes from your local tax assessor’s office as that number is traditionally fairly low.

A professional appraisal can cost anywhere from $300 and up, depending on where you live. The first thing to do is to find an appraiser near you.

Once you’ve got an appraisal, you can decide if you want to price your house higher or lower than the said number. Keep in mind, this is public knowledge so, if you price it higher than the appraised number, potential buyers can find that our and it may affect their offer.

11. Have a Mock Open House

A second set of eyes is always a good thing. While you’re deciding what to list your house for, stage it and have family and friends walkthrough.

Preface their walkthrough by telling them that you want an honest opinion from an outside perspective, and encourage them to echo the possible concerns (and compliments) of potential buyers.

This is also a good time to separate your emotions from your home sale.

Keep in mind that a very small percentage of home purchases are made because of an open house.

This should go without saying, but make sure you find people who will give you an honest opinion. Your mom who still dotes on you, even when you’re a middle-aged adult, may not be the best representative of a potential buyer.

12. Use an iBuyer

The iBuyer model is an up-and-coming way for sellers to value and list their homes in a timely manner. If you’re looking to price your home to sell fast, you have a short timeline. With an iBuyer program, you can sell and close on your house within just a few weeks.

Finally…

Selling your home is daunting and intimidating whether you’ve been planning on it for months or just decided to do it yesterday. Fortunately for you, the resources at your fingertips are more plentiful than ever before.

Use social media to get your listing out. Do your research ahead of time. Know what your house is worth, detach emotionally from it, compare it to other houses for sale in your area, and list it. It’s as simple as that.

Real estate has joined the digital world, and it’s easier than ever to price out your home to sell it online than ever. Don’t be afraid to try it. In 2020, 52% of buyers found their new homes on the internet.

iBuyer.com is an excellent resource for you to use without even leaving your house so if you want to sell your house fast, get in touch today!

The post How to Price Your House to Sell Fast appeared first on iBuyer Blog.

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Downsizing isn’t just for empty nesters. There is a big trend in real estate right now showing more people opting for smaller homes. If this sounds like you, we’ve rounded up some great tips for how to downsize your home quickly. 

From saving money to less cleaning and clutter, the advantages of downsizing your home are almost endless. To help you manage the stress of it all, we’ll go over what to donate, how to sell online, and where to start. Think of this as your go-to guide to downsizing your home. 

1. Sell Your Home As-Is to a Cash iBuyer

If you’re looking to downsize your home quickly, one of the easiest options is to sell it as-is or to a cash iBuyer. For some homeowners, an illness, unexpected job loss, or disability, forces you to look for alternative housing. When this decision is forced upon you, the last thing you want to deal with is listing your home on the traditional market.

Selling your home entails showings, open houses, intrusive visitors, and the need to keep your house in mint condition. If you’re trying to downsize and sell your house, you may not have the luxury of time.

This is where iBuyer comes in to save you time and money. With iBuyer, there is no need to stage your home, host open houses, or wait for it to sell on the open market. You’ll save in overhead costs, real estate commissions, and closing expenses.

Needing to downsize is stressful enough. Take some of the pressure off by taking advantage of these services.

2. Steps To Downsize Your Home

Once you’ve decided to list your home and downsize, it’s time to get started organizing everything. You’ll want to start by going through your home and deciding what you want to take with you and what you don’t need anymore.

Go room by room and piece by piece thinking about if you need it at your new home. Downsizing is a freeing time. You’ll be free of stuff and you’ll have less house to manage.

Even if you haven’t found your new home, it’s never too early to get out moving boxes. Start packing some of the things you know you want to bring with you. Store them somewhere like the garage or laundry room so they aren’t in the way during showings.

You’ll then want to go through and think about what you’d like to toss, donate, or sell. If there’s anything you want to give to friends or family, start making calls and getting stuff out of the house. You can then start the process of selling the rest.

3. Sell Your Stuff With the House

Selling your items along with your home is another great way to get rid of the stuff you don’t want to take with you. This is especially helpful for large items that are difficult to move.

Let’s say you have a custom couch and king bed that fit perfectly in your home. If you sell them with the house, the buyers won’t have to buy something new and you won’t have to move anything. It’s a win, win situation for everyone.

To pull this off successfully, it’s helpful to list the furniture as a selling feature. In guest rooms, home theaters, or custom spaces, it’s a huge bonus to offer the furniture with the home. It’s up to you and your financial situation if you want to price the home to include the furnishings or sell each item individually.

When you’re trying to sell fast, don’t get too hung up on the price of each item. Take what you can for as much as possible. In the end, selling items with your home is the easiest route to go. There’s no need to sell them elsewhere and you won’t need to ship anything.

Factor in the ease and cost-savings into your list price. When you’re negotiating the sale of your home itself, focus on that first as opposed to the stuff. It’s more important to sell your house when you’re trying to move in a hurry.

4. Host an Estate Sale

An estate sale is another great way to get rid of furniture and belongings in a hurry. This also eliminates the need for you to pack anything up, drag it outside for a garage sale, or sell it yourself online.

With an estate sale, you hire a professional estate sale company. These companies specialize in getting everything in your home ready to sell. They will take care of all the logistics including pricing and labeling.

On the day of the estate sale, they also take care of all the transactions and sales. They make sure safety and theft measures are in place as well. People will walk into your home as if they are walking into a store.

All your items are labeled and priced to sell. Shoppers stroll through to inquire about items and purchase anything they wish to. Your estate sale company will also negotiate pick-up, shipping, and delivery of heavy items.

This is much easier than bringing everything out to the front yard for a handful of neighbors to see. With a professional estate sale, you also have the advantage of marketing and publicity. These companies have databases of people and media to reach out to. They’ll get the word out about your upcoming sale to ensure a nice turnout.

5. Purge Anything You Don’t Use Anymore

Purging is one of the best things you can do to downsize and get your home sold. When someone comes to tour your home, they want to imagine themselves living there. Seeing all your stuff is distracting. Help your home sell faster by purging anything you don’t use anymore.

Moving and downsizing will be that much easier as well. There is no need to pack and move anything you aren’t taking with you to your next home. When you’re trying to downsize, you need to purge to make space.

Start by going through everything in your home room by room. If you have to think about it too long, it’s probably a good idea to purge it. Anything broken or with missing pieces should be tossed away or recycled.

Anything in good condition can be sold or donated. Sort everything into piles, bags, or storage bins and label them accordingly. Once this is done, you’ll be surprised by how much stuff you were able to get rid of.

Think about all the time you’ll save on unpacking these items later. You’ll save on storage space as well. It will feel great to start off fresh with a clutter-free clean slate. Clutter has been shown to negatively affect your brain, mood, and stress levels. 

6. Hire a Haul Away Service For Donations

For larger items that are hard to get rid of on your own, consider calling a charity that will pick them up. Old couches, desks, tables, and dressers, for example, are tough to get into a car on your own. If you aren’t using them anymore, give them away to a good cause.

Giving these items to charity will feel great for two reasons. First, you’ll be giving your stuff to someone who needs it. Second, you’ll have fewer things to worry about moving or getting rid of.

The pick-up service often comes at no charge. You won’t need to pay professional movers or call on family or friends to take stuff out for you. Check this item off your to-do list and feel good about helping someone in need.

7. D.I.Y. Online Selling Tips

If you’d like to sell some items on your own online, there are a few takeaways that will make things easier. Selling your stuff online allows you to downsize and get rid of things you don’t need while making a little money. To help your items sell faster, we’ve rounded up a few easy tips below.

1. Take Great Photos

Photos are one of the key components of online selling. You want your photos to be as professional looking and polished as possible. Make sure you start with good lighting in a clean space.

Open windows and choose a time of day where you’ll have the best natural light. Dark photos don’t sell well. Keep the background clear so that the item for sale is the focus.

Try and take a few photos per item so that buyers can see all the angles. The more photos you provide the more confident buyers will feel.

2. Priced to Sell

If you need to downsize in a hurry, you need to sell or get rid of things in a hurry. Holding onto items until you get the most money won’t help your downsizing efforts. Focus on pricing to sell.

While you don’t want to give your items away, pricing them well will help your items move faster. Buyers want to feel like they are getting a deal. The lower you go, the sooner your items will sell. This means less packing and more storage space at your new home.

Pricing these items to sell will help you in the long run. You’ll be free of extra stuff and you’ll have money in your pocket to put towards your new home.

3. Give Accurate Descriptions

When someone reads a description online, if it’s too vague they won’t trust it. Be as descriptive and honest as possible about what you’re selling. If something you’re selling has scuffs in it, let them know upfront.

If you don’t disclose all the information about your item, it could end up coming back to you or the sale could fall through. Get your stuff sold and give buyers all the details they need.

4. Sell on More Than One Website

Putting your stuff on more than one website will increase your chances of it selling. You want your items to be seen by as many buyers as possible. Choose a few to get started and you can add more from there.

Do a little research on which platforms to use. Check reviews and look at how long items on the site have been for sale. It’s important to feel safe and secure.

Social media is another place to consider. It’s free, easy to access, and you’ll be able to sell to people you already know. Remember to remove the item for sale on all the different platforms once it’s gone. Selling online is time-consuming but it will feel great to be rid of things and make some extra money.

5. Use Flat-Fee Shipping or Include it in the List Price

One downside to selling online is that you’re responsible for packing and shipping your items. Everything you sell needs to be mailed or delivered to the buyers. To save some money, consider flat-fee shipping. Smaller items are placed into boxes that cost one flat fee no matter how much they weigh.

You can also build this fee into the listing price. If you’re selling something for $15 and the shipping will cost you $5, display this on the site. This way, the buyers are also paying for shipping and it won’t eat into your profits.

How To Downsize Your Home Quickly

Knowing how to downsize your home quickly will save you time and money. No matter your reason for downsizing, you need your move to go as quickly as possible.

A major part of downsizing is letting go of your stuff. Anything you don’t use anymore should go to charity or be sold in preparation for your move. Think about how much better you’ll feel after you’ve lightened your load physically and mentally.

The most important step to downsizing is getting your home sold. If you’re ready to start your next chapter, submit your address to get a free home offer and iValuation. You can skip selling on the traditional housing market and save yourself a lot of time, money, and stress. 

The post How To Downsize Your Home Quickly appeared first on iBuyer Blog.

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Timing is everything. That’s especially true when you’re asking the question: should I sell my house now? 

There are a lot of factors at play. Where are you moving to, and what do their COVID-19 restrictions look like right now? How soon do you need to move?

Or, you might be dealing with external pressures, like moving for a job or taking care of an aging family member. 

If you can strategically plan your move, asking: should I sell my house now or wait? is an important question. 

With the right moves, you can sell your house at the asking price, without staying there forever waiting for the perfect buyer. 

However, it’s a huge decision, so it’s a little more complicated than that. Selling a house in 2021 is challenging, but with the right considerations, the decision becomes easier. 

1. Consider the Pandemic

We know, we know. COVID-19 has likely impacted every facet of your personal and professional life. At this point, experts are starting to identify what’s called ‘pandemic burnout.’

None of your efforts, such as masking up or social distancing, seem to be helping. (Even though they are!) And you’re weary of the constant stress of a deadly global pandemic that’s changed everything, altered your work schedule, and possibly kept your kids at home for you to educate. 

However, now is not the time to throw in the towel, particularly if you are interested in selling a house. 

The first thing you need to do is conduct some risk analysis. This may include:

• The vaccination rate in your county 
• Current social distancing guidelines
• What opening phase your county is in
• Case rates in your county

Why? Because you’ll be inviting strangers into your home. They could be COVID carriers, or you could be. 

If you feel safe enough with current conditions to continue selling your house, it’s time to establish some ground rules for prospective buyers. 

Start with weeding out buyers who aren’t serious about your home. Now is not the time to accommodate leisurely weekend strollers who simply wanted to get out of the house, and would never really make an offer on your home. 

Experts suggest you eliminate hobbyists by only allowing buyers with pre-approved mortgages to see your home. The next step is making sure that all home tours are scheduled. 

This will allow families to readjust their schedules. Maybe one spouse could take the kids to the park, while the other stays to give the tour. 

You should also crackdown on all unnecessary visitors. In these times, viewing a home cannot be a group event. Limit tours to one or two people, in case a couple doesn’t feel comfortable making an offer without seeing it together.

Mandating masks and gloves are also crucial. Due to recent highly contagious variants of COVID-19 that are starting to circulate, mandating double-masking is another good idea. 

Much like a business, you can set up hand sanitizer stations. Place one in your foyer, for starters. This allows buyers to sanitize when they enter and when they leave your home. 

If it’s feasible with the weather, open every window and door when you’re touring. It’s proven that increased ventilation can dramatically reduce your risk of contracting COVID. 

2. Be Flexible

No matter how much hand sanitizer you provide, some buyers simply won’t feel comfortable viewing a home in person. Depending on the danger in your county, it might not even be safe to provide tours. 

However, you might not have the luxury of waiting. If you have to move, it might be time to embrace technology!

This may be easier if you have the help of a great realtor. Here are some options: 

• Video chats 
• Virtual tours
• High-quality photos 

Showing off your home could be as simple as leading a FaceTime call! You or your realtor can do this. Set up a time to call, and then position the camera as you slowly walk through the home. 

This will allow you to visually zoom in on features you want to highlight, like new chrome fixtures on the sink or the lovely chandelier you recently installed. 

This will help duplicate the in-person experience without the risk. However, another good way to tour is to get your realtor to set up a 3-D experience. 

Take a moment to Google an easy term, like “apartments in X city.” On common sites like apartments.com, you’ll have the ability to ‘walk’ through an apartment just like you would in person. 

This makes people feel like they’re getting a real experience, rather than a simple FaceTime call. 

Of course, you can go the old-fashioned route. Take your time and really focus on showcasing your home. Add more pictures than you think anyone would ever want to see! 

With highly detailed pictures, people can take their own time without being fixed to a schedule. This adds the benefit of letting them investigate from the comfort of their own home when there’s no risk involved.

3. What Happens Next?

Right now, all your focus may center on one question. When should I sell my house? 

It depends on what your situation looks like afterward. What are your plans? If you’re moving in with a relative, it can likely happen at any time. 

However, if you’re moving into a new house, this complicates the timeline. How has the pandemic affected buying and selling in your new location?

If you sell your current home quickly, you don’t want to find yourself between a proverbial rock and a hard place. Once you sell, where will you go?

The important thing is to give yourself more time than you think you’ll need. This will give you some flexibility to sell and move into a new home. 

4. Use iBuyer

Sometimes, selling a house is a lot like selling a car. You need to clean everything up, make it look good, and then start advertising it!

However, there’s a simpler way to sell cars these days. The same is true for houses. In some cases, you can input your car’s relevant details into selling sites. Then, once they’ve reviewed these details, they’ll give you a cash offer. 

It’s hassle-free, and a great way to make some quick cash and get competitive pricing for your home. 

Here’s how it works. You go to iBuyer’s site, input your address, and a highly precise algorithm provides you with a cash offer. iBuyer then purchases your home and gives you cash for it. 

Speed is one of the primary factors. When you use iBuyer, you could get offers in under a day. In a week, your home could be sold with the cash in your hands for you to make an offer on your next home. 

5. Consider Interest Rates

If you’re buying a new home as soon as you sell your current one, you’re in luck! For buyers, interest rates are at an all-time low. According to Dave Ramsey, the average interest on a 15-year fixed-rate mortgage is 2.61%. 

That’s the lowest rate since reporting began! And if you’re selling, there’s still good news. 

Home prices have been rising. In December 2020, median home prices went up by 13%. Experts expect that number will spike by 8% in 2021.

Why is the market changing like this? Population patterns are changing as the world adapts to coronavirus. 

Many major workplaces are no longer requiring people to come into the office, and have no plans to change that once it’s safe to do so. Others are realizing that they never needed people in-person at all. 

Some people only live in highly populated, highly urban areas such as San Francisco because of work. If not for their jobs, they would leave to a cheaper area. Who wouldn’t?

Urban centers are shifting and changing. Many people are living their dreams of buying a home in a cheaper area, moving to a rural location, or simply moving to another state to be closer to family. 

Others, when they have the money to spend, are moving in order to decrease their coronavirus risk. Living in an apartment complex puts you much closer to other human beings. 

Whether you’re using community amenities to soak in the pool or simply trying to get the laundry done, it puts you at higher risk than you would as a homeowner. 

Other people are in a more precarious position when it comes to making big decisions such as buying a home. The pandemic has altered everything, and it’s worthwhile to take that into account when you’re conversing with buyers. 

Try to get a sense of their story, and feel out the situation. If everyone is flocking to your county to escape COVID-19 in larger cities, congratulations! You’re making the best of a bad situation, and this will likely be an easy sell for you. 

6. It’s Easier Than You Think 

If you’re overwhelmed by the thought of selling your home in this environment, take a deep breath! It’s easier than you think. 

Selling a home in spring 2020 was more challenging. Think about it. The country was reeling with uncertainty, wondering whether to wear masks or not, and still hopeful that all this would be fixed after a month of lockdowns. 

Now, we’re a lot wearier. But we’re also a lot wiser. There are simple steps that can be taken to combat this pandemic. 

The best part? Your realtor knows it! By this point, they’re as ready as anyone could ever be when it comes to selling homes in the midst of a global pandemic. 

They’ve had over a year’s worth of experience. They can cater to changing market trends, worried buyers, and COVID protocols that require buyers to sign papers outside and so forth. 

7. Take Changes Into Account 

When buyers are trying to get financed so that they can make a good offer for your home, be prepared for it to take a little longer than usual. 

There will always be overambitious buyers who think they can afford more than they practically can. 

However, many lending requirements have tightened dramatically since the start of the pandemic. Down payment amount requirements have increased in many cases. Job history needs to be more stable than it did before. 

Lenders are trying to reduce their own risks in a consistently volatile environment. That’s why it’s so much harder for some buyers to get approved than ever before. 

While you’re accounting for that, consider a COVID-19 addendum. This is a caveat that covers both the buyer and the seller, and it might be a good idea to add to the paperwork as you’re selling your home. 

This addendum allows both parties to cancel the contract, or extend the closing process if either of them needs to. Of course, this can only occur if the cancellation or extension is directly related to COVID. If you’re wondering “Should I sell my house right now?”, this can help.

The idea behind this addendum protects both parties in case COVID-19 makes the situation impossible or impractical to navigate through. 

Some buyers and sellers have been burned during the pandemic and this allows some measure of protection. Think of it as a ‘barring acts of God’ clause in other types of contracts.

Should I Sell My House Now?

You might still be asking: should I sell my house now? You’re the only one who can make that call, by assessing risk levels, the market, your own priorities, and what your realtor says. 

However, if you want to avoid all the hassle, getting a cash offer for your home greatly simplifies the process. It’s simple: go to our site, submit your address, and get a cash offer for your home.

The post Should I Sell My House Now? (2021 Update) appeared first on iBuyer Blog.

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Did you know that, according to CNBC, the health-care costs for retirees went up as high as $280,000 in 2018—and it was only expected to become more expensive at $285,000 in 2019? One of the best ways to avoid having to pay so much in the future is to invest in long-term care insurance.

If you’re considering investing in this type of insurance, you’re probably asking yourself questions such as:

“What is long-term care insurance?”

“Do I need long-term care insurance”

“What does long-term insurance cover?”

If you don’t have the answers to these questions, you might feel stressed. After all, you have to plan for your future so that you live a long, happy life—but how do you know if this is a way to do that? You also might be stressed about the cost of long-term care insurance.

That’s why we’ve put together this article. We’ll provide you with all the information you need to know about long-term care insurance. Once you know what you need to, you can decide if long-term care insurance is right for you.

What is Long-Term Care Insurance?

Long-term care insurance is a type of coverage that is different from your everyday health insurance. With long-term care insurance, you’re preparing for the day when you might need additional care that is related to your health but that isn’t directly dealing with your health problems.

Basically, long-term care covers different types of care you might need when you’re older.

This might include covering adult or personal care at home, home health care, or nursing-home care. It’s used when you have a disabling or chronic condition that requires you to have supervision.

This might include getting help with getting out of bed in the morning and getting back in bed at night. It also might include dressing, bathing, and other daily activities that can be difficult to do when you’re older and dealing with a health condition that affects your daily life.

These health conditions might include disorders, disabilities, or chronic health conditions. One example of this is Alzheimer’s disease, which affects more than 5 million Americans.

Even though your ordinary medical insurance would cover the medication and treatments you need for this health condition, it wouldn’t cover the care you need to live well. For this reason, it’s smart to think about combining your health insurance you already have with long-term care insurance.

If you have long-term care insurance, you’re likely to get covered by any care you receive at an adult day care center, an assisted living facility, a nursing home, and your own home.

When to Get Long-Term Care Insurance

For this reason, many people have to think about long-term care insurance before they get older. They’re preparing so that they can have fulfilling lives in the future, without any annoying complications that come with common age-related disorders.

It’s important to think about long-term care costs as spending they’ll have to plan for in the future.

Usually, when people are in their fifties or older, they need to start thinking about how they’re going to save for these potential costs. Those who don’t worry about it now may end up paying far more money later on. In fact, often loved ones are the ones who end up having to pay.

Because it’s not possible to get affordable long-term care insurance with a debilitating condition, it’s necessary to plan ahead and get this insurance sooner rather than later. Most people buy it when they’re in their fifties or sixties.

How Does Long-Term Insurance Work?

If you’ve decided that long-term insurance is something you’re thinking of buying, then it helps to understand how it works. In this section, we’ll answer the question, “How does long-term insurance work?” To get started, you have to get in touch with the long-term care insurance provider so they can send you an application.

Then, you fill it out, answering health-related questions. The long-term care insurance provider might also interview you or ask for health records. This will help them determine if you’re eligible.

Once the provider has decided that you’re a good candidate for long-term care insurance, you can choose how much coverage you’re planning to get. Usually, there’s a max that can be paid per day by the insurer. There’s also a cap on how much they will cover you throughout your lifetime.

This is how to get long-term care insurance.

After being approved and after you get the policy issued by the insurer, you’ll start paying for the insurance with premiums.

It won’t be until you need the long-term care insurance that it will kick in. Usually, you become eligible for the benefits of the policy once you are no longer able to do two out of a total of six ADLs, or “activities of daily living,” on your own. These ADLs include:

• Getting in and out of your bed
• Getting in and out of a chair
• Any other type of transferring (as described above)
• Eating
• Dressing
• Being able to care for incontinence
• Bathing

If you’ve ever had to care for an older family member, then you are likely familiar with the importance of having a caretaker for any of these activities. In addition to not having two of these ADLs, you will also become eligible for the benefits if you suffer from a cognitive impairment like dementia.

Making the Claim

Once you can no longer do two ADLs or suffer from a cognitive impairment, it’s time for you to make your claim. When you do this, the insurance company might send a nurse so that they can do an evaluation on you. They will also take a look at your medical documents that your doctor provides them.

The insurer also has to approve the “plan of care” you’ve selected before they approve your claim.

Usually, you’ll have to pay out of pocket for your care services at the beginning. Then, once your claim has gone through and been approved, the insurer will pay you back for the money you’ve spent.

You’ll usually have to wait between 30 and 90 days, depending on how your insurer processes claims, before they start reimbursing you. This is referred to as the “elimination period.”

As mentioned earlier, there will be a daily limit on how much you can get reimbursed for by the insurance company. Additionally, there will be a cap on how much coverage you can get throughout your lifetime.

Shared Care Option

Considering that there’s a cap on how much money you can be reimbursed, you might be stressed about what would happen if you reach that limit. This is where the shared care option comes in. This isn’t available with all long-term care insurers, but you should look for one that offers this option if you think your costs may be too high.

A shared care option is where both you and your spouse buy a policy at the same time, after which each other’s limits are combined.

As a result, if you or your spouse need additional care that needs to be covered over the amount of the individual daily or lifetime cap, then the other person’s remaining insurance amount can be used for coverage.

Do I Need Long-Term Care Insurance?

It is very likely that you need long-term care insurance. Unless you’re very wealthy and can afford to pay for these issues when they come up, you need to prepare for the future. You should do this for yourself, your spouse, and your children.

This might be a stressful thing to plan for, but it’s important to do so.

Something you might not be sure about is when to start paying. This will have an impact on the cost of your premiums. When to start paying depends on a variety of factors, such as your age and your health.

We’ll review all this in the last section of this article, where we cover the costs of long-term care insurance.

What Does Long-Term Insurance Cover?

As we’ve reviewed, long-term insurance is different from your ordinary health insurance in that it covers the care you need when you’re dealing with a health condition or can no longer perform two out of the six ADLs. What’s important to understand is that long-term insurance covers you no matter where you are.

When you’re covered by long-term insurance, you get coverage not only for nurses who come help you in your home but also for some of the costs of being at a care facility. It will also cover the costs of any changes you need to make to your home, such as repairs.

For example, if you need to install a stairlift, you may be able to have some of the installation and purchase price covered.

As a result, long-term insurance covers care coordination, home modification, in-home care, adult day care services, assisted living facilities, and nursing home care.

Of course, different insurance plans will vary. For this reason, you should think about how you envision your future. Even though it’s not the most pleasant to think about how you won’t be able to perform daily tasks in the future, you have to do it for yourself and for your loved ones.

Once you know what you would want to be covered and where you envision yourself living later in your life, you’ll have a good idea of which type of coverage you want to get.

How Much is Long-Term Care Insurance?

If you’re asking the question, “How much is long-term care insurance?” we’ll answer that question here. This can vary significantly, depending on your age, your health, and your gender. Additionally, your marital status and coverage amount will make a difference.

If you’re older when you purchase long-term care insurance, you’ll have to pay more.

This is because of the many health complications that come along with getting older. Additionally, there’s more incentive for the insurance company to have you start paying earlier, before your health issues start to impact your ADLs or cognitive function.

Your current health will also have an impact on the cost of your long-term care insurance. If your health is in poor condition, you will have to pay more.

If you have a disease that runs in your family but you don’t have it, it’s best to get insured before it potentially becomes a health problem you have. Additionally, if you have any current health problems, do what you can to deal with them before you apply for long-term care insurance.

Gender will also have an impact on the cost. Because women usually live longer than men, they have to pay more. Marital status has an impact too, as your premiums will be lower if you’re married.

Insurance companies themselves will vary in cost, depending on what it is they offer you. Additionally, the amount of coverage you receive will have an impact on the amount of money you end up paying in premiums.

The post What is Long-Term Care Insurance? appeared first on iBuyer Blog.

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Originally posted on Porch.com

Maybe your kids moved out and you’ve found yourself with too much space, or you’re ready to exchange your maximalist ways for a minimalist lifestyle. Whatever your reasons, downsizing to a smaller home or apartment can save you money and give you the financial freedom to travel or buy that vintage Porsche you’ve been dreaming of. It can offer independence, new opportunities, or simply a change of scenery. If you’re part of the recent downsizing trend, these tips will help you shed some of the clutter you’ve accumulated over the years and start off light and fresh in a smaller place.

What to Consider When Downsizing Your Home

You’ve decided to downsize but…what’s next? Moving out of your current home and into a smaller space is exciting, and it can greatly improve your quality of life. Before you start looking for a smaller place, here are a few things to consider to help you decide what kind of space you want to downsize to.

How many people will be moving?

Is it just you who will be moving, or do you have a spouse and children coming, too? Downsizing with your family means adjusting to less privacy, so it’s important to consider how much space everyone will need to live comfortably. If you have pets, make sure they’re allowed before you make the commitment to move into a rental.

Amenities

Whether you’re moving into an apartment building from a house or to a smaller house in a new neighborhood, you’ll want to keep in mind what amenities are offered in or near any prospective home. Consider things like laundry facilities, green spaces for kids or pets, and nearby grocery stores, dining options, and entertainment venues. Decide what your deal breakers are and what you can live with if you find the right place.

Downsizing to update

Many people downsize with hopes of finding a more manageable space — and one that better reflects their current tastes and priorities. Maybe you’re dreaming of a small loft with a balcony in the middle of a busy city, or perhaps a little cabin near a lazy river is more your speed. Maybe you’re hankering for a low-maintenance suburban house you can customize — or you’re finally jumping on the tiny-house or van life bandwagon. Now is the time to decide where you’d like to land. Where do you see yourself?

Financial goals

Saving money is the reason most people choose to downsize. Align your financial goals — whether saving for retirement or for your kid’s college fund — with your downsizing plan. Consider how small you want to go versus how small you need to go in order to reach your goals. Then, haggle on each side until you find a happy medium.

Storage needs

A major concern when moving to a smaller home is storage. Will there be enough room for everything, even if you downsize your belongings before you move? If you have a lot of possessions you find yourself unable to get rid of, make sure the place you’re downsizing to has an attic, garage, or on-site storage where you can store your things.

The first step to downsizing: Lighten your load

We all have stuff we can get rid of: Unworn clothes taking up space in the closet, shelves full of old games and puzzles with missing pieces, drawers, and closets full of things you didn’t even know you had.

Downsizing your belongings is an opportunity to sort through the flotsam and jetsam of your life and toss the things you no longer want or need. Taking the time to rid yourself of things that take up space in your home and in your mind is liberating, and it makes it easier to enjoy the beloved worldly possessions you end up keeping.

Follow these helpful downsizing tips to make quick, easy work of letting go.

Designate piles before you start

As you sift through your belongings, you’ll make decisions about everything that passes through your hands: Keep it? Or toss it? If you no longer want or need it, you’ll have to decide how you’re going to divorce yourself of it. So before you start downsizing, designate and label five areas or boxes where you can immediately deposit items you’re getting rid of so that they’re easy to deal with later.

Donate. The donate pile is for items that you’ll drop off at the thrift store or take to a charity of your choosing. Some thrift stores and charities will even pick up donations, saving you time and effort.

Sell. Selling your discards not only puts some extra cash in your pocket—it also contributes to a low- or zero-waste lifestyle. Here are some ideas for selling stuff you no longer want:

• Photograph and post your belongings on local online marketplaces, which reach a wide audience. Follow best practices for safe exchanges.
• Have a garage sale—get your whole family or neighborhood in on it, and advertise heavily. Once it’s over, load whatever’s left over into the back of a pickup, and take it to the thrift store.
• Find a vintage or antique shop for your retro clothes and valuable trinkets. You’ll fetch a higher price, and your cool stuff will end up in the hands of someone who will appreciate it.

Gift away. Some things, you’ll want to give to friends or family members who you think would use or appreciate them. In this pile, you’ll set aside those jazz albums your vinyl-loving nephew will dig, the art and books you know your friends will enjoy, and the China and heirloom furniture someone in the family may want.

Recycle. Some items that are typically sent to the landfill should be recycled instead. Some of these may be picked up curbside, but you might need to deliver other items to the appropriate recycling center yourself. Recyclable items include:

• Electronics, like old, outdated VCRs, flip phones, and tube TVs
• Old, stained, or torn clothes, bedding, and other fabrics, which can be recycled into new textiles
• Rigid plastics, like a broken snow shovel or old kids’ toys
• Things made of steel, aluminum, and tin—banged up teapots, those coffee cans stacked in the garage
• Things made of glass, including light fixtures, chipped vases, and broken mirrors
• Mattresses (in some municipalities)

Trash. Keep a trash bag with you at all times for tossing the little stuff, but designate a spot for big trash, like broken furniture and old carpeting. Make sure the item is actually garbage before you dump it. If it can be reused, recycled, or refurbished, put it in the appropriate pile. Here’s how to get rid of big trash:

• Schedule a pickup with a refuse company
• Rent a roll-off container from a refuse company
• Hire a junk hauler to pick up the items and dispose of them
• Try setting nicer items, like a broken table or old couch, out by the curb or alley for passersby. After all, one man’s trash is another man’s treasure.
• For hazardous waste, like old cans of paint, motor oil, pesticides, fertilizers, and cleaning supplies, call your trash hauler for instructions on disposing of them.

Populate your piles: Rules of thumb for getting rid of stuff

Your best rule of thumb for downsizing is: If you won’t have room for it, don’t bring it with you. Try to be decisive about what to keep. The less gray area you have to hem and haw in, the easier it will be to purge your house of things and move to your new, smaller place unfettered.

When you’re ready, take a deep breath, and dive in. Keep these tips in mind as you go through your rooms looking for things to leave behind.

Head for your storage areas first.

Start with the attic, garage, spare rooms, closets, and out-of-the-way cabinets. These spaces most likely contain items you’ve amassed but haven’t touched for a while. Once these are cleaned out and the contents dealt with, your downsizing job is downhill from here.

Eliminate rooms that won’t be in your new home.

If you’re moving from a large house with a backyard and basement to a small apartment in the middle of the city, you’re probably going to have a lot of extra furniture, plus stuff in the shed, garage, and basement that you’ll need to sell or donate.

Decide which large items to keep.

Measure your new home to determine what large furniture pieces—like couches, bookcases, beds, and dressers—you’ll be able to take with you. Decide which items you want to bring and which ones you’ll get rid of. If you’re having trouble choosing, consider how you want your new place to look, and pick pieces that best fit your new decor ideas.

Use the six-month rule.

No matter what room, closet, or drawer you’re working on, another indispensable rule of thumb for getting rid of things is this: if you haven’t seen or used it in over six months, you probably don’t need it.

Get rid of duplicates.

Four saucepans, three couches, two microwaves, and a linen cupboard brimming with sheets—sound familiar? Getting rid of all of your extras is an easy way to remove a lot of clutter from your life. 

Destroy the paper trail.

Go through your home office, and gather up your old bank statements, receipts, warranties, manuals, and other paper detritus you’ve been keeping for years. Determine which ones you no longer need, and toss them in the recycling bin—shred them first if they contain sensitive information.

Sort through sentimental items.

It’s not wrong to love the stuff you live with. You brought it into your home for a reason, and it has shaped your environment and provided enjoyment, comfort, familiarity, and fond memories. It’s only natural that we form connections to our special things, and it’s hard to remain objective about the baubles and bric-a-brac we hold dear to our hearts. But there are ways to downsize your sentimental items without losing the memories associated with them.

Reduce your collections—but keep your favorites. Do you have a curio cabinet of porcelain dolls, shelves of model airplanes, or a vast library of books? Maybe you collect mementos from your travels, or natural things like fossils, feathers, and bones. Get some high-quality snapshots of your collections, then pare them down to a handful of favorites. Sell, gift, or donate the rest, then print the photos for an album—or have them printed as a coffee table book.

Frame, photograph, or file away the memories. You may not have a ton of storage space where you’re going, but there’s always a blank wall waiting to be adorned. Frame your extra-special photographic and paper mementos, and display them on your walls. Use an expanding folder or small plastic tote to tuck away artwork, photographs, handmade cards, and any other sentimental paper keepsakes you want to hold onto. Consider digitizing old photographs and albums if you have a large collection. Parse out the originals to relevant friends and family members, who can then share in the memories, making them even more special.

Rent a storage unit

If you got rid of everything you possibly could, but you still have too much to take with you to your new place, invest in a storage unit. You can find unit sizes for every situation and budget. Here are a few points to consider when choosing a storage unit.

Accessibility. Do you need weekend availability and 24-hour access to your storage unit? Most storage units offer these services but some don’t. Check the company’s website or give them a call to find out about their accessibility. 

Security. Some units provide locks, but some will require you to buy your own. Consider security cameras, in-person surveillance, and gates before you choose a storage unit.

Reviews. Look at the reviews for different storage units, and see what people have to say about the company.

Packing it all up: Tips for preparing for the move

Packing is part and parcel of downsizing, and most of us dread it. Once you’ve finished downsizing and you’re ready to head to your new, smaller place, it’s time to box everything up. These tips will help the packing process go as smoothly as possible.

Don’t procrastinate.

As tempting as it is to wait until the last minute, it only creates more stress. A rushed packing job means fragile items might not be packed properly and risk getting damaged in the move. You could end up packing things you didn’t intend to bring with you—or worse, you might accidentally toss something you wanted to keep. Get a head start on packing to prevent any mishaps. You’ll thank yourself later.

Gather your packing materials.

Have all your packing supplies ready before you start. You’ll need packing boxes, heavy-duty packing tape, a thick permanent marker for labeling, and plenty of newspaper for wrapping fragile items. Make use of suitcases to cut down on the cost of boxes, and use towels or linens to protect large items like dressers and mirrors.

Label everything.

Grab your jumbo sharpie and get to work. Label each box according to what room it’s for and whether there’s anything fragile inside. Pro tip: Give each box a number (i.e. 1 of 20, 2 of 20, and so on). This will make it obvious if a box gets lost while you’re moving out.

Pack clothes as they are.

Clothes are a tricky thing to move, but we’ve got some tips. Don’t bother taking clothes out of your dresser when you’re packing up—just leave them in their drawers, and wrap the drawer in cellophane. Follow a similar tactic for clothes hanging in your closet. Instead of taking each item off its hanger and tediously rehanging them after your move, hang them in a wardrobe box, or pack them in large garbage bags. 

An 8-Week Guide to Downsizing and Packing

When you’re preparing to move, it’s hard to keep track of everything that needs to be done. Time flies by, and before you know it, the moving truck is in your driveway and you’re on your way to a fresh start. Use this weekly guide to help you plan how far in advance to start the downsizing and packing process.

6 – 8 weeks

Start downsizing six to eight weeks before your scheduled move. Begin by going through each room in your house and setting aside all the items you want to get rid of.

3 – 5 weeks

Around the three to five-week mark, gather up any items you’ve decided you don’t need, and sell, donate, or give them away.

2 – 4 weeks

Begin packing up the items you’re going to keep, starting with the non-essentials like books and trinkets. As your move date gets closer, you can pack the clothes and kitchen items that you don’t use every day.

1 week

The week of your move, pack a day box that contains important daily items you’ll need first thing after your move. Include hygiene items you’ll need, your bedding, a change of clothes, any medications you take, any important paperwork you’ll need, and so on. The purpose of a day box is to keep you from going without essentials during the final week of your move. This is the week to pack away any belongings you haven’t already gotten to.

Moving day: Go with a pro or DIY?

You’ve downsized your belongings, packed them up, and you’re ready to move out. Should you hire a moving company to help you carry the burden, or tackle it yourself? To help you decide, here are some pros and cons of hiring a mover vs. moving yourself.

Hiring a mover

Pros. Moving is stressful and exhausting. Hiring out means someone else does the tiring work of moving for you. There are even moving companies who will pack up your house for you. Professional movers are experienced in moving heavy, awkward items quickly and efficiently, and unlike that friend you asked to help you move last time, movers are hired workers, which means they won’t back out on you at the last minute.

Cons. Depending on how much stuff you have and how far away you’re moving, a professional mover can be expensive. It can also be stressful to trust strangers—no matter how professional—with your personal belongings.

Moving yourself

Pros. Saving money is probably the biggest benefit of moving yourself. If you have too many boxes and large items to move in your car or a friend’s truck, renting a moving vehicle is still more cost-effective than hiring a company to move for you. Moving also gives you the freedom to pack however you want—a major pro if you’re not the most careful packer. 

Cons. Moving is tough work. There’s a lot of heavy lifting involved, and if you’re unable to find a friend or family member to help you out, you could end up moving everything yourself. If you’re moving out-of-state, a long drive in a moving truck can be nerve-wracking if you’re not used to driving large vehicles.

Optimizing your new, smaller space

Moving to a smaller home means you may have to do some creative arranging to fit everything in. Space optimization will allow you to keep all the things you love without losing too much legroom.

Use storage containers.

Storage containers like totes, bins, and baskets make a world of difference in a small space. They fit nicely in closets, under the bed, or on top of the fridge—wherever you’ve got the extra space. 

Go vertical.

Running out of floor space? Use your walls! Hanging racks, coat hooks, shelves, and mountable space organizers are a few ideas for utilizing the walls and doors in your home.   

Clean frequently

The idiom, “a place for everything and everything in its place,” is excellent advice for small home dwellers. Do a little cleaning every day to keep your house clean and clutter-free. Put things back where they belong, sweep or vacuum regularly, and keep your surfaces clean.

Invest in functional furniture.

All sorts of innovative furniture designs available these days can help you get the most out of your smaller space.

Storage sofas. These sofas, sectionals, and loveseats are a stylish choice to optimize the space in your home. They have hidden storage under their plush cushions—some even have full-size beds, ideal for a studio space or for hosting visiting guests.

Convertible furniture. Innovative furniture designs include convertible furniture, which offers more than meets the eye. Mirrors with shelves hidden inside, ottomans with removable lids to store your blankets, and armoires that open into desks or beds are just some of the options out there for furniture that can serve multiple purposes in your small space.

Organizer carts. These carts are champs at utilizing vertical space. Put one in your bathroom or bedroom to get the most use out of the area you have. Kitchen organizer carts can double as extra counter space in your kitchen.

Enjoying a Smaller Space

Going from a sprawling two-story house to a dorm, studio apartment, tiny house, or smaller bungalow is a big change, and it’s one that can take some getting used to. Living minimally is the start of a new adventure, and soon enough, you’ll find yourself loving your smaller space. Here’s why:

You’ll have fewer expenses.

The money you’ll save on your utilities alone is reason enough for celebrating a smaller space. Bigger homes use a ton of resources, and those costs add up over time. Living in a smaller space will allow you to allocate the funds you used to use on heating and cooling to things you actually want to spend money on.  

Smaller spaces are easier to clean—and keep that way.

Larger homes require more cleaning and upkeep than smaller homes. With fewer rooms and less stuff, you won’t have to spend hours cleaning and organizing a home that has more space than you know what to do with.

Minimalism is a mental cleanse, too.

Downsizing isn’t just a material purge—it’s also a mental cleanse. Living with less leaves more room for simplicity and living a minimalist lifestyle that’s based on having experiences rather than possessions.

It’s cozier.

Fewer rooms mean you’re able to focus on making the rooms you do have as cozy and perfect as possible. Instead of worrying about filling up all the extra space of a large home, you can invest in quality pieces of furniture and art that you really love.

Making the decision to downsize is liberating in so many ways. It reduces the waste in your life and helps you shed excess baggage you’ve collected throughout the years. Minimizing your belongings makes moving into a smaller home or apartment a cinch. Most importantly, downsizing frees you up and opens up opportunities for new memories and experiences.

The post The Ultimate Guide for Downsizing to a Smaller Home or Apartment appeared first on iBuyer Blog.

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