December 15, 2023



November Newsletter

Many of you have probably seen the hit television show on HGTV, Love It or List It. If not, the quick gist of the show is a designer, Hilary Farr, and a real estate agent, David Visentin, compete over a family that renovates their house with Hillary and either decides to “Love It” and stay in their newly transformed home or “List It” and sell their property and buy a new one with David. The banter between Hillary and David is entertaining, but it is the anticipation of the family’s decision at the end of the show which has led to 18 seasons thus far.  
Photo Credits/Source: Love it or List it
The reason I bring up this show is because a lot of my clients are playing Love It or List It in their own heads right now.  You may be doing the same! With nearly 90% of homeowners with a mortgage having an interest rate less than 5%, a lot of us are feeling handcuffed to our homes. I hear a lot of people say, “I am never selling my home”, because of their interest rate.  Never say never!  What happens next is your brain starts playing Love It or List It without you even knowing it.
“Do we update the kitchen?”  “Should we replace the carpet with hardwoods?”  “Let’s finish the basement and add an additional bed and bath for our growing kids”  “Time to upgrade these builder grade windows”  “If I am going to replace _____ I might as well replace ______” [fill in the blanks]
The cost of labor and material right now is ridiculous! I know someone who is remodeling 2,700 SF, 4 bed/3 bath at this moment and they are dropping $150,000!!! Their toilets better be made of 24K gold!!!  

So the question is, how would you like to live the next decade of your life? Would you rather go with the “Love It” option and renovate your home, pay tens/hundreds of thousands of dollars and live the lifestyle in the location you are in now 
-OR- Would you rather “List it”, make minor improvements to sell your home (ie: paint/carpet), move into a newer/renovated home with more desirable square footage or layout, in your optimal location to live the lifestyle you would prefer for the next decade?Let me break down the 10 year game financially. Would you rather spend $120k-ish up front now (more than likely paid in cash or a high interest loan)? #loveit-OR-
Would you rather spend $120k-ish spread out in minimal payments over the next 10 years? #listit
[I know, I know! In this example you probably obtained a 30 year mortgage which means you are actually paying an additional $240k for 20 plus more years AND it starts to mess with your retirement goals, college funds, etc. I get it! I too think about these things, but I also have to seize the day!  How do I want to live my life today and for this next season of my life, because we are not guaranteed tomorrow. We just got really deep and you should probably get back to work. We can finish this discussion and the meaning of life over a drink another time]
Thanks for playing the “at home” version of Love It or List It!
Congratulations to Saadi Djafar! Get ready for an unforgettable Mexican adventure with Vida Vacations.
A huge thank you to everyone who participated in this giveaway!

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