5 New Year’s Real Estate Resolutions You Should Make This Year

If you don’t have a New Year’s resolution just yet (or at least not a real estate-themed one), we’ve got some solutions for you. Whether you’re thinking of buying a new home, selling your current home, or staying right where you’re at, these real estate resolutions are worth considering.

Here are five real estate resolutions you should make this year.

Audit your finances

reviewing finances

If you’ve got any real estate aspirations on the horizon (or even if you don’t), a great place to start is with a good look at your income and spending. Credit cards and automatic payments make it easy to overlook spending, or even forget about some expenses all together.

Before you go any further, stop to consider where your money is going—and try to find a few areas you might be able to cut back. A little extra money can be a big deal for both buyers and sellers in the long run.

Focus on savings

real estate resolutions like saving

Did your audit reveal a few places you might be able to “trim the fat”? (The answer should be “Yes!” unless you’re already pretty diligent about sticking to your budget.)

If you do manage to cut out some superfluous expenses, try this little hack: Take the money you would have spent on that cut expense and put it into a savings account instead. Call it your “Down Payment Fund” if you’re buying or your “Home Repairs Fund” if you’re selling.

Clean & declutter

hosting a yard sale

Let’s face it: for most of us, stuff is a reality. And the longer we live in a certain place, the more stuff we seem to accumulate. Most of the time, the boxes in the attic likely don’t bother you too much, but if you’re thinking of buying or selling a home, you’re also thinking of moving—and suddenly, that stuff becomes a lot more intimidating.

Don’t let stuff weigh you down (literally)! Before you start packing or planning your move, take some time to go through your belongings one room at a time, in an organized manner. Staring the decluttering process well before the move will give you lots of time to make decisions, work slowly, and either sell or donate items, rather than simply throwing them out.

Bonus: Your home will look at lot better, too!

Establish realistic goals & timelines

making real estate resolutions

It’s important to understand that everything in real estate takes time and planning. If you want to buy a home this year, don’t wait until a month before your current lease ends to start looking; odds are, you aren’t going to find the perfect home and close on it in under a month.

If you want to sell a home this year, understand that there’s some work that needs to go into your home first, like decluttering, repairs, and staging. Both buying and selling take time and work, and real estate is far from an instantaneous process. Setting realistic goals and timelines can help you plan for the future, one step at a time.

Find a GREAT real estate agent

real estate resolutions to find an agent

If you have any real estate goals for the coming months or year, one of the best things you can do for yourself is to find a great agent. With recommendations from friends and family and a little research, you should be able to locate a few agents with extensive experience in the area you want to buy or sell.

Once you’ve got a few names, make some calls to ask some questions before you sign on with any one agent. You’ll want to ask about the agent’s experience and how long they’ve been in the business, whether they work alone or with a team, how they communicate, and what special offerings they might have to benefit you.

Even if you’re not quite ready to buy or sell, a good agent should be able to make some recommendations for where you should start, and maybe provide some helpful resources to get you going.

Make 2020 the Year of Real Estate Resolutions!

Are you thinking of buying or selling a home in Northeastern Mississippi this year? Let J.Morris Realty lend a hand! Contact us today to learn more about how we can help you find the perfect home… or list your current home for top dollar!

Leave a Reply

Your email address will not be published. Required fields are marked *