Most people have some kind of retirement plan, financial plan, business plan, career plan, etc. But have many have a houseing plan? By that, I mean, are you maximizing your financial future with your housing plan?
I met with some of my sellers last week who had been in the same house for over 20 years and the house is over 30 years old. Unfortunately, over that time, their neighborhood had gone down a bit - it has capped off at what homes are worth, no matter how nice they are or how large they are, the neighborhood has a ceiling on prices. Of course, since they have a larger home than most, and it's nicely updated, they will sell faster than other homes in the subdivision. If they had sold that house at least 10 years ago, and bought in a newer subdiviision, that home would have increased in value more than their current home has, over the same time period.
You know, there is a reason that people move on average about every 6 years! The plan I came up with for Roger and me was to move every 6 years, and kept buying a nicer home, more poplular area each time, and now I'm in the part of the plan where we stay in this house for 15 years, and then the next house for 10-15, and then go to a condo or maybe retirement village. The plan is to keep buying into an area that will give me the best appreciation. I know, people like to have a paid off house, and so do I - I just don't mind moving!!!
I know there are some areas of the country where the buyer/seller would cringe at this idea due to the way their market has crashed. But historically, even in the wrost market back in the 80's, it took California only 9 years to go from peak to valley and back to peak. In the 25 years I have been selling homes in the greater Baton Rouge Real Esate Market, this scenario works like a charm. Make a plan for your future with your house! if you need any advice with this idea, just give me a call anytime to discuss!