If you need to sell your home so you can downsize, you would think it should save you money. Moving into a smaller place can grow your nest egg right at a time when extra cash will come in handy. The payoff can be big. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we have seen, depending on how long you’ve lived in your home, when you sell a large portion of your equity may go straight to federal and state capital-gains taxes. Also, depending on how long you’ve lived in your home, you might have plenty of deferred maintenance to deal with. So to get the most value for your house, you’ll need to make repairs before putting your property on the market. You may also have some cosmetic issues that need attention. Improving your home’s landscape can be costly. Painting the front door, replacing the mailbox, and updating light fixtures are low-cost upgrades that can boost curb appeal. Also, you’ll probably have to hire a moving company when you downsize. That will also cost you extra money. Check out below to see what sold in Crosswinds West in August 2016:
22066 Edgewater, Novi: 2 bedrooms, 1.1 bathrooms, 1,100 sq. feet, 1 car garage, Sold Price: $129,000
Crosswinds West Home Sold
August 2016
Additionally, if you’re buying your next property, you might have to pay more in property taxes depending on where you’re moving. But if this is a retirement move you’re making, you may be in luck: Some cities offer property tax relief to seniors, so find out from your adviser if a discount is available and whether you qualify. For more information on Crosswinds West, or similar Northville or Novi neighborhoods such as Country Place, Lakewoode Parkhomes and Highland Lakes, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.