Nothing Like A Good Chicken Leg!

Now all you need is a BBQ to cook them on...

Do you remember my post about the client that was sick of annoying agents calling and knocking on his door? He had asked for some ammunition to help fend these pests off.

Glad to announce in under 3 months Peter and Nancy were able to sell their house and pay themselves the commission. They sold for 98.5% of their asking price and saved $17,325 including GST. They spent some money to market their home, in total $1,028.70, giving them a net total of $16,296.30 more than if they had of used an agent. I am not sure what they will use their extra cash for but I know one thing, they won't be wasting it on something they can do themselves!

Today I am going to share with you a few of the many things you can spend your money on instead of some Joe Schmoe agent.

1. Put it towards your mortgage - This is by far the best use of these funds (IMHO). Putting this money down on a $200,000 mortgage (based on a 25 year amortization and 4% interest rate) would save you an additional $9,418.52. That means you would end up saving over $25,000 by selling privately!
2. Pay for upgrades in a "new home" - If you are buying a new home you know that it never comes "fully equipped". Did you want hardwood floors? What about upgraded cabinets or a finished basement?
3. Make some changes in the home "new to you" - When you buy a resale home it is generally not perfect. Maybe you need a new water softener ($1,000 and up), high efficiency furnace ($3,500-$6,000), new A/C ($2,000 - $3,000), new roof ($2.50-$8.00/sq.ft.). Here is a great list of expected costs.
4. You sold the your place with appliances and now need to replace - Fridge ($2,500), Stove ($1,800), Washer & Dryer ($1,850)
5. Upgrade the backyard - New deck, Landscaping, Gas Grill for the chicken legs!
   
6. Your new place has a space for a kick butt man cave - TV ($3,000), Surround Sound ($3,500)
7. You decide that you want a spa in your basement - Hot tub ($4,700), Sauna ($3,400), Massage table ($500)
8. Send your child to University (1st year tuition and books)- Optometry ($16,100), Computer Science ($12,000), Architecture ($10,900)
9. Deposit on a new convertable or a new Harley Davidson.

I could go on and on. The point here is that you have the ability to make a choice how you want to spend your money. Whatever floats your boat. Don't let anyone tell you how you should spend it. If you want to use it for a real estate agent, by all means, it's your money.

One year ago today Joe Lima used some of his new found money to give back to his community. That's always a good idea.


M