Date Archives: April 2019

Multigenerational living is a term used to describe households in which there are at least two adult generations in residence.  The number of these households in the U.S. is on the rise. Two types of multigenerational living are becoming more common in recent years; two-generation households, where adult children live with parents, and three-generation homes, where there are adult children, parents, and grandparents living under the same roof. Our real estate agents are here to explore some of the pros and cons of multigenerational households with you.

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You've sold your home, now what?

It's time to pack and move! While stressful, it is the perfect time to organize, declutter and purge all of those unwanted items. Just like the latest organizing trend,
Marie Kondo your moving routine.

Don't know where to start? Here are some of our favorite tips;

Recycle, donate or throw out

If it doesn't spark joy, get rid of it! Contact your local thrift stores, family and friends or post on local facebook marketplaces for a little extra cash. Your junk could be someone else's treasure.

Create a master moving to-do list

This list will include all the tasks and important reminders like grabbing extra boxes and tape, hiring a local moving company or returning your cable box. Utilize you're your smart device to share your google doc list with a spouse or family members to keep everyone in the loop.

Moving tools

Be sure to stock up on moving boxes, tape, permanent markers, and bubble wrap. Create a master labeling system. Label each box with its desired location and then add the box number and contents to your Master to-do list. This will help you tremendously when you are trying to find the dog leash that you thought you left out!

Pack an overnight bag

For quick access, pack a few extra sets of clothes for your family. This will save time and your sanity!

For more tips visit the 41 Easy Moving and Packing Tips that will make your move dead simple blog post.

• Skip the bottled water.
• Bring your own coffee mug to work instead of using disposable cups.
• Turn off lights when you're not in the room will help save energy costs.
• Bring your own grocery bags to the market.
• Try carpooling or walking to work if possible.
• Go Paperless! Pay your bills online.
• Donate clothes or used items you no longer need rather than throwing them away.
• Try cutting down on shower time by a few minutes.
• Switch to glass containers and reusable sandwich bags for lunch and leftovers.
• Switch to LED lightbulbs

If we all pitch in, we can make this earth a better place for all! Happy Earth Day!

Do you dream of moving into an up and coming neighborhood? Our real estate agents are here to help you identify the areas around your town that will soon explode onto the real estate scene.

1. Area Improvements
   Keep your eyes open for areas of town that are undergoing massive improvements, both within the infrastructure and commercial contexts. Local governments and private corporations will begin noticeably investing in the renovation of these areas. New transit lines, which includes roadway improvements, will make the area more accessible for the many residents, visitors and commuter employees that are soon to follow. Old buildings will get a new facelift as businesses move in and turn neglect into opportunity. Keep in mind that the presence of any major corporations and retailers is a great sign as well. These companies spend millions of dollars on market analysis and wouldn't invest in an area that wasn't growing positively.
   
   

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Should you pay off your mortgage early?

That's a question that many people struggle with, whether they are already paying on a mortgage or are working with our real estate agents to find a home to buy.

The answer to that question isn't the same for everyone since it depends largely upon each person's financial situation, as well as their long-term goals and preferences. Here are three things to consider as you determine whether or not paying off your home early makes sense for you.

1. Do you have other debt?
   Given today's low-interest rates for traditional, fixed-rate home loans, chances are good that any other debt you are carrying, be it credit card debt, student loans or auto loans is more expensive than your mortgage. If you are carrying debts with higher interest rates, it makes good financial sense to channel any extra funds you have into paying these off before you worry about making extra payments on your mortgage.
   
   
2. Will paying off your home early leave you cash-strapped?
   There is no harm in doing without a few luxuries to pay off your home more quickly, but you'll want to evaluate your budget carefully to be sure that making extra mortgage payments doesn't leave you on shaky financial ground.
   
   Leaving yourself cash-strapped to get it done can be risky business if the unexpected happens, like a job loss, for instance, or health problems. It can also cause you financial problems later in life if you're scrimping on retirement savings to prepay your mortgage.
   
   Before you commit a more substantial chunk of your budget to pay down your home loan more quickly, put some money away for a rainy day. You should save enough to cover your ordinary expenses for at least six months, but preferably a year. Also, be sure that money goes into your retirement fund every month before you send that extra payment on your home loan.
   
   
3. Will your mortgage term stretch into your retirement years?
   Most of us will see a significant decrease in income once we retire. If your loan, should you pay just as scheduled, will still be around when you retire, it may make sense for you to get your home paid off early. Owning your home free and clear by retirement age will pay off by reducing your monthly expenses significantly, right when you likely have less income to meet them.

The bottom line is that, if you can comfortably afford to pay off your home early, it makes sense to do so. You'll save money over the long-term by paying less interest, and you'll also have the peace of mind that comes with having clear title to your home. However, if paying more towards your mortgage will cause undue financial strain, it probably makes better sense to keep up with those agreed-upon monthly payments.

If you have more questions about the pros and cons of paying your home off early, please feel free to contact us. We're always happy to put our expertise and experience on all things related to home ownership to work for the benefit of New England homeowners and home buyers.