If you are unfamiliar with golf, there’s no actual nineteenth hole. This is just simple, fun slang for the bar celebration after a good game of golf. For some, this may be the best part of a golf day while for others this is just the cherry on top after spending the day doing an activity with friends that the golfer enjoys anyway. This is a chance to sit and rest, chat with other players, have a good drink and celebrate the victories made on the course.
Possibly, for a home seller, the nineteenth hole means getting to the closing table and the profits check in person. A great realtor can help a seller get to that nineteenth hole and make plenty of reasons for celebration.
Whether it is out of necessity or just the desire for change, selling a home is a big decision and a good realtor is there to meet your needs and help every step along the way. Once all parties are sitting at a closing table, the buyer’s check(s) have cleared and the seller has their proceeds in hand, it is time to take a deep breath and celebrate the end of the process. But now what? Here are 4 of the smartest ways to reinvest your money for the future
1. Another Home
This is probably the most common way sellers spend the proceeds from their home sale. Whether they are selling one home to pay the down payment for another home or maybe they are now looking for a rental property to invest in, this is a key component in many decisions to sell a home. A realtor can help meet these goals and help to meet number requirements as well; inclusive of suggesting upgrade options if the seller needs to get a little more profit out of the home.
2. Other Financial Investments
Many sellers decide to invest in rental property, as mentioned in the point before and this can be a good decision depending on the financial goals you and your family may have. Some sellers also decide to reinvest their money in market investments or retirement accounts which is a viable option as well.
3. Pay Down Debt
Some sellers opt to sell either a primary residence or an investment property with the goal of paying off debts, like student loans. A realtor can help a seller decide if this option is right for them
4. Second Home
Differing from investment and rental property, some sellers may decide to buy a second home as a vacation or weekend home. For example, maybe a seller has two properties in the city but wants to sell one and buy a property in the mountains. A realtor can help brainstorm about ideal locations for a second home.
If you have questions about the home selling process, contact me at (720) 323-4176, I’d love the chance to help caddy your real estate journey!
This post is part of an ongoing series where we talk about my two favorite things: golf and real estate! Stay tuned for more golf-themed posts as we go through the ABC’s of real estate and provide helpful tips for home buyers and sellers alike.