Another important checkup that should be done on a regular basis and can be just as beneficial for your finances is an annual homeowner advisory. Why would you treat your investment in your home with less care than you treat your car or even your HVAC system?
Consider investigating the following:
• Know the value of your home by obtaining a list of comparable sales in your immediate area as well as what is currently on the market for sale.
• Have you compared your assessed value for tax purposes to the fair market value in order to possibly reduce your property taxes?
• Even if you’ve refinanced in the last two years, can you save money and recapture the cost of refinancing in the time you plan to remain in your home?
• Have you considered reducing your mortgage debt with low-earning cash reserves that will not be needed in the near future?
• Have you considered investing in rental homes in good neighborhoods to increase your yields and avoid the volatility of the stock market?
• Recommendations of repairmen and other service providers from a trusted source who deals with them more frequently than you do.
Anytime you or your friends need help, please call. Knowing where to get the answer is just as important as knowing the answer. If you’d like information on any of the items we suggested, please let us know.
About the author: Marilyn Messenger is a licensed real estate broker associated with Andrew Mitchell and Company based in Concord MA. As a Certified Residential Specialist and Accredited Buyer Representative, she has been representing home buyers and sellers for 20 years in Wayland, Sudbury, Maynard, Stow, and the suburbs west of Boston. Her clients appreciate her extensive knowledge about local real estate and her ability to negotiate the best deal on their behalf. Visit www.marilynmessenger.com to search for homes and get information about buying and selling homes.