Wrestling with the decision to downsize? Should you stay in Brooklyn, or does it make sense to leave? If you decide to stay, should you buy or rent?
All of these questions and more will be answered at “Downsizing the Brooklyn Way,” a program hosted by Compass agents Anita Culp and Eileen Richter on Wednesday, November 6.
They’ll present two unique programs, Compass Bridge Loan Services and Compass Concierge, the latter of which helps sellers maximize the value of their home by fronting the cost of home improvement services like staging, renovations, painting and more. “What’s great about it is there are no upfront costs, no interest charged and no hidden fees,” said Culp.
The program will include expert advice from real estate attorney Kurt Roth; certified personal organizer Janine Sarna-Jones, owner of Organize Me, Inc.; and Terry Mainord, chief stager and owner of Terry Mainord Design.
Mainord will speak about how staging can lead to a quicker sale. “Simple, inexpensive upgrades such as a fresh coat of paint, backsplash tile, and new modern light fixtures can make a huge difference in the salability of a home,” she said, adding that her staging speciality focuses on using what’s already in the home.
Another topic to be discussed is what do downsizers do with all their stuff? To that end, Sarna-Jones will discuss how you must find the resolve to make decisions about how important the items are to your well-being.
“If it is something you love, there is no reason why you should feel pressured to let it go,” she said. “But while you are making the decision about what to keep and what to discard, you must keep in mind that your feelings about each item are not the same. You may love one thing and merely ‘like’ another. If you have multiples, pick the best one and let go of the duplicates.”
Another topic of discussion will be the process of a 1031 Exchange — where you reinvest the profit of your sale in more real estate in order to forestall capital gains tax. When capital gains tax kicks in, you can earn $250,000 tax free ($500,000 for a couple). Anything above that is subject to capital gains tax.
“How you live and how you sell are very different things,” said Richter. “We’re here to bring the resources that appeal to your potential buyers, while valuing what matters to you.”
Wednesday November 6, 2019
5:30 p.m. to 7:30 p.m.
Compass Park Slope office
514 2nd Street
Brooklyn, N.Y. 11215
The event is free. There is limited seating and RSVP is required. To register click here.