7 Ways Downsizing Saves Money

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downsize your home, downsizing, entertaining at home, home ownership, Homes in Jacksonville FL, insurance, Jacksonville Real Estate, maintenance costs, property taxes, real estate, real estate advice, real estate investing, real estate tips, repairs, utility costs

Downsizing is hardly a dirty word these days, especially as Baby Boomers begin to question the size of their home, and more Millennials are finally making their way into the world. Home ownership is a good investment at any size, and if you’ve ever wanted to free up some cash for the rest of life’s joys (travel? new hobbies? investing?), downsizing can be a great way to rightsize your budget. Here are seven ways downsizing can foster a little more financial freedom:

1. Utility costs. If your gas and electric bills have been climbing year over year, consider the pleasant surprise of heating and cooling 1,200 sq. ft. instead of 3,500. Controlling the climate in empty spare bedrooms is pointless when you don’t need the room. What’s more, you can count on fewer houseguests with less space, and this, in turn, can decrease utility costs.

2. Maintenance costs. How big is that lawn? How many rooms need to be refreshed with a coat of paint? How many windows do you need to wash, and what about the size of that driveway that must be repaired and sealed?

3. Insurance. Your insurance bill is based in large part on your appraisal, and if your new home is smaller, your insurance bill should shrink as well. (This can vary based on location and levels of coverage, of course, but you would be hard pressed to insure less for more!)

4. Property taxes. Much like insurance, tax rates tend to be based on a percentage of assessed value. Here’s a few more dollars back into your wallet.

5. Repairs. How many toilets do you need to have fixed? Appliances? Light fixtures to keep lit? The smaller home has fewer leaking faucets and a smaller roof to replace. Your overall spend on maintenance goes down when you have less home to maintain.

6. Furniture. Downsizing is a perfect opportunity to sell excess furniture and find keep only those pieces well-loved or essential for your new smaller space.

7. Hosting and entertaining. When you’ve got that sprawling home, your place is ground zero for out-of-town guests, relatives, and holiday parties. As your space shrinks, so does your annual hosting and entertaining budget. Besides, if you really want to throw a shin-dig, you can take some of that downsizing cash and pick a perfect venue.

Looking to downsize and redirect that extra cash? Get in touch: Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

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Home Inventory in the Cloud

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cloud, Evernote, insurance, inventory, protecting your possessions, responsible homeowner, Stuff Safe

How are you protecting your home’s possessions?

We don’t like to think about the unthinkable happening, but being a responsible homeowner means preparing for the worst. One fire or burglary can send us back to square one, and getting life back on track as fast as possible becomes our top priority.

Homeowner’s insurance is there to make sure that when the worst happens we’re able to recover. One place many people are notoriously lax, however, is in keeping a thorough inventory of their home’s many possessions. Often those who do keep an inventory keep it somewhere in their house. Unfortunately this isn’t much help when the computer where the inventory is stored is destroyed or stolen in the night.

One great solution to keeping an accurate home inventory is using web-based technology to make sure the information is safely stored away from home. There are many ways to do this, but the idea is the same: Keep photos, serial numbers, descriptions, and values stored in a secure place online where you can download the information later should you need to file or prove a claim.

You should choose a method you’re comfortable with, but two popular options include using Evernote (www.evernote.com), cloud-based software to “remember everything” and the home-specific service Stuff Safe (www.stuffsafe.com). Each offer affordable options for recording and storing your home’s inventory, including mobile device apps to make the recording that much easier.

Using cloud-based software such as Evernote or Stuff Safe has a number of benefits: 1) It’s secure. 2) It’s searchable. 3) It’s easy to create “reports” for insurance companies. 4) It’s painless to make quick updates or modifications.

While Evernote offers a completely free option, Stuff Safe has a free trial period. Both, however, have very inexpensive “premium” options which can provide significant peace of mind.

Get protected! Get your “stuff” in the cloud.

We always like to keep our clients updated on neat tech tips for managing their home. Like us on Facebook for updates – http://www.facebook.com/HanleyHomeTeam or give us a call at 904-422-7626 Kevin and Jennifer Hanley, REALTORS http://www.HanleyHomeTeam.com or http://www.HanleyShortSales.com