Women invest less, get into debt more often, and pay less than men. They are also benefiting from the booming property market.
Our Female Savvy column examines the reasons behind these inequalities and offers solutions to change them. We believe that financial equality starts with financial education, and we were here to give women tools and tips to take control of their money and help them lead more prosperous lives.
If the housing market remains hot, one of the best ways for women to benefit from the current boom is to sell their homes now, even if they don’t plan to move anytime soon. Now it’s time to sell the house while it’s still on the market, Jensen says.
This builds on some of Jensen’s previous advice to ensure that you get the best offer possible.
Record low inventories, coupled with low-interest rates and the ability to work with people looking for a new home, is what it is all about.
If you’ve been thinking about a sale for some time, list your house now, regardless of the price. At this stage of your homeownership, most buyers should like it.
The typical screening time used to be one hour. Now we have seen agents restrict screenings to 15 minutes in extreme cases. If you have multiple offers, it is best to stage better to make it look higher for them. Do a week of demonstrations.
Give your buyers a 30-minute window to get as many buyers through the door as possible, with one more week of demonstrations available. Buyers will try to shorten the offer period to submit an offer to you and demand a faster response time. In many cases, the offer will not be as good as it could have been if it had been. If there is an offer period, stick to it.
If you receive several other offers, you are in a solid position to say that the request should be reduced or concessions. In a seller’s market, the seller can dictate what happens next. This means you can charge little for repairs. Negotiate on request for a house inspection.
If the market is hot and you want to invest in real estate, you should be careful to pay more for an investment than the property is worth. You will face stiff competition as a buyer, so make sure you have a place before listing your home. Listing your home can trigger bidding wars, which can be super fun, but you have to live somewhere else once the dust settles.
My advice to women is to be careful not to overpay, “she says. “The market is hot for single-family and significant multi-family investments. However, there are opportunities for all kinds of needs. You want to be careful not to pay too much. As an investor, overpaying does not mitigate the risk involved.
If you are waiting for the right investment property to hit the market, start building your team now. The key is to study your asset class and market. This way, you are prepared when the opportunity presents itself. They want to get our finances in order.
These include brokers, insurance agents, lawyers, accountants, title brokers, and commercial brokers, Faircloth says. Building relationships is crucial in all types of markets. When it comes to property investing in today’s market, the bottom line is to buy what you can afford. You may lose a few homes, but you won’t pay too much and be stuck with a lemon when your offer is made. Jensen says that women who want to buy a house now should make an informed and intelligent decision and make an offer that makes sense for their financial situation.