by Kathe Barge | Apr 16, 2024 | Blog, Design, Helpful Tips, Home Improvements, Home Staging, Listings, Market Trends, Mortgage, Property Updates, Property Value, Sellers, Selling Conditions
What are some cost-effective ways to increase the value of my property before putting it on the market?
Boosting the value of your property doesn’t always require significant financial investment. There are several cost-effective strategies that can enhance your home’s appeal and attract potential buyers at a low out of pocket cost. One approach is to focus on curb appeal. Simple yet impactful improvements such as freshening up the exterior paint (particularly the front door), mowing the lawn, trimming bushes, weeding your landscaping beds and adding potted plants or flowers can instantly elevate the first impression of your property. A well-maintained and inviting exterior not only attracts buyers but also sets the tone for the rest of the home tour.
Another cost-effective way to increase the value of your property is by making small changes to modernize its design aesthetic. Upgrading key features such as lighting fixtures, faucets, and cabinet hardware can give your home a modern and refreshed look without breaking the bank. Changing out worn or dated carpeting is also easy and reasonably cost effective/
Furthermore, don’t underestimate the power of a thorough cleaning and decluttering. Clearing out excess clutter, organizing closets, and deep cleaning surfaces can make your home feel more spacious, inviting, and well-maintained. This simple yet effective step allows buyers to envision themselves living in the space and highlights the full potential of your property.
By implementing these cost-effective strategies, you can increase the value of your property and attract more buyers, ultimately maximizing your return on investment when it’s time to sell. If you’d like advice specific to your home, whether you are considering selling this year or in five, please reach out to me!
by Kathe Barge | Feb 12, 2024 | Blog, Buyers, Buying Conditions, Design, Helpful Tips, Home Staging, Inspections, Investment Properties, Listings, Property Updates, Property Value, Sellers, Selling Conditions
How do you approach homes that may not be ready for market when you first see them? Is it better if the home is completely ready before you see it?
Generally, its best if I see your home before you make any changes to get it ready for market. After 25 years selling real estate in this town, I am able to help you figure out where your money is best invested to reap the highest return from the market and advise you on current trends. You may be focusing on things that are not important to buyers, and may overlook things that are.
Realizing top market value is a common goal for sellers, and in today’s HGTV-inspired market, it’s achievable with the right preparations. I’m here to guide you through those decisions, using my market expertise to ensure that your investments are both wise and likely to return their value. Together, we can navigate the nuances of the market’s current expectations. My role is to provide you with candid, constructive feedback to help you understand the market’s perspective. It’s a collaborative journey, where I share insights—not to criticize, but to empower you. I appreciate the love and care you’ve invested in your home, and my aim is to honor that by positioning your property as a compelling opportunity for buyers, avoiding the pitfalls of a stagnant listing or the need for multiple price adjustments. Therefore, while your home’s story is uniquely yours, I’m here to help translate it into the universal language of the current market for a seamless sale. Let’s work together to turn your home’s potential into a polished presentation that stands out, ensuring you don’t just list your house, but truly showcase it for what it can offer to the next owner!
by Kathe Barge | Dec 4, 2023 | Buyers, Buying Conditions, Design, Helpful Tips, Home Improvements, Home Staging, Listings, Market Trends, Marketing, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions
As we consider listing our home, what are the best, quick, and affordable changes we can make to enhance its sales appeal?
First impressions are pivotal when selling your home, and a fresh coat of paint is one of the most cost-efficient ways to make a dramatic impact. Choose neutral shades that not only provide a blank canvas for buyers but also complement any decor style they might imagine. Light hues can make small spaces feel larger and more open, while soft tones can soothe and welcome. If a full house repaint isn’t feasible, focus on high-traffic areas and any walls with noticeable wear. Pair this with strategic touch-ups such as baseboard polishing, door frame repairs, and elimination of scuff marks to convey meticulous maintenance.
Enhancing curb appeal is another transformative and budget-friendly strategy. Start with basic landscaping; prune overgrown bushes, weed garden beds, and add vibrant plants for color. Ensure your lawn is green and manicured, as a healthy lawn is synonymous with diligent upkeep. The entryway is also crucial—consider a new doormat, potted plants, and perhaps a fresh coat of paint on the front door to make a welcoming statement.
Internally, decluttering and depersonalizing spaces are essential. This process involves more than just tidying; it requires removing excess furniture and personal items to showcase the spaciousness and potential of each room. Follow this by deep cleaning every corner of your home, from steam-cleaning carpets to scrubbing grout lines, to present a spotless environment. Updating fixtures and fittings, such as doorknobs, cabinet pulls, and light fixtures, with modern alternatives can refresh the entire feel of your home. These changes, while seemingly small, can significantly modernize the space and increase its appeal to buyers who are often looking for move-in-ready homes.
In summary, a few well-considered changes can have a substantial effect on the appeal of your home. Fresh paint, curb appeal, and thoughtful interior updates are practical and financially savvy ways to enhance your home’s attractiveness to potential buyers. As always, if you’re looking for tailored advice or have specific questions about preparing your home for sale, don’t hesitate to reach out. With the right preparations, we can ensure your home stands out in the market and catches the eye of discerning buyers.
by Kathe Barge | Jul 28, 2023 | Contracts, Helpful Tips, Home Staging, Interest Rates, Listings, Market Trends, Marketing, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions
We are frustrated that our house has not sold and everyone gives us different advice. We are thinking of changing Realtors. Who should we believe?
Prolonged higher interest rates have caused a decrease in buyer confidence and a very uneven market – some segments are still selling “high” while other segments are very slow. And of course when a home does not sell, everyone has a different reason to offer you. Assuming you did your research up front on your agent’s expertise and you feel that they are a seasoned agent offering your home good exposure to the market, then changing agents is probably not going to do much for your home sale. The best course of action is to put your trust in the agent whose credentials you verified upfront and follow their lead.
That said, consider whether you are doing your part (selling a home is, after all, a partnership – its not all about what your Realtor is doing for you – the question you need to consider is are you doing your part and presenting a home that is market ready for sale?) Realtors do not have magic wands – we cannot make a buyer buy a home that is not prepared well for market. On my website, askkathe.com, there are many articles about getting your home ready for sale. A brief summary of some major considerations include:
- Is your home squeaky clean? Did you deep clean? Are the windows shiny inside and out? Are the carpets free of stains, wear and tear?
- Is the color palate of your home primarily neutrals in a single color or two, and is the paint fresh?
- Are the floorcoverings, clean, free of wear and tear, and in a current color palate?
- Have you decluttered your closets, cabinets and storage areas? Have you rehomed what you won’t be taking with you? If you have moved out, have you really moved out, with nothing left behind?
- Have you had you home professionally staged? Yes, its an expense, but more often than not a home stager has the “midas touch” you are probably looking for!
Every home is unique and so one size does not fit all. Your Realtor (or me, if you don’t have one) can provide you with the best advice on how to best present your home for a successful sale. And of course, if you are a seller who just wants to sell “as is” there will be a buyer for your home – you just need to adjust the price to a lower price point that will attract a buyer willing to put in the effort.
by Kathe Barge | Jun 23, 2023 | Buyers, Buying Conditions, Design, Helpful Tips, Home Improvements, Home Staging, Listings, Market Trends, Marketing, Property Updates, Real Estate, Sellers, Selling Conditions
Do you think it’s a good investment to stage our home before putting it on the market?
Home staging is one of the most important things a seller can do to improve their chances for a successful sale! Staging is just as important as is getting the price right when it comes to attracting the most buyers and driving in the best possible offer. The National Association of Realtors shares “Buyers want to easily envision themselves within a new home, and home staging is a way to showcase the property in its best light.”
Why is staging so important? The overwhelming majority of buyers start their home search online and surveys show that buyers who see photos of a staged property online are more willing to do a physical walkthrough of the property. 81% of buyer’s agents surveyed indicated that staging helps their clients visualize life in a home. A third say that staging boosts home value, particularly if the aesthetic fits the client’s tastes. And nearly one quarter of survey respondents say that staging may help buyers look past property faults.
Home staging is typically done by trained professionals specializing in readying homes for the best possible outcome when they hit the market. While Realtors can provide advice, a home stager’s expert eye can make a huge difference in the success of your sale. Sometimes stagers can work with your furnishings, and sometimes they bring in rented furnishings. Yes, it is an expense, but in my professional opinion, sometimes it takes money to make money, and home staging is an excellent investment to generate the best possible returns!
Don’t just list your home, get it the attention it deserves by making sure it looks its very best from the outset!
by Kathe Barge | May 8, 2023 | Buyers, Design, Helpful Tips, Home Improvements, Home Staging, Listings, Market Trends, Marketing, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions
We are planning to update the color palette in our home. What are the “in” colors these days?
Gray (and its many shades including greige) have been in-style for so long now that its hard to imagine it still holds its alure, and many homeowners are venturing into different color palettes. However, gray is still extremely popular with buyers – homes painted in a gray/greige and white color palette almost universally fly off the market. And if you have to choose between gray/greige and any other color (except white), always choose gray! If you need a break from gray, however, the incoming trend is strongly leaning towards the whites. White comes in so many shades – and even straight out of the can white is quite a nice and refreshing color. In some cases white is being combined with an accent wall in a gray tone or other neutral, and this can work quite well.
Of course, like any other color, it is critical that you choose the correct shade of white to compliment your trim. It is easy to end up with the walls clashing with the trim if you are not careful! An easy solution is to paint the walls the same color white as your trim! Don’t let the whites fool you – there are so many shades of white, and before you paint be sure to look at the undertones in the white to determine which undertone you prefer – a tiny hint of gray? Pink? Green? Unless you use the white straight out of the can, there will always be an undertone.
Where to start your painting? Strong colors and yellow tones are not currently where the buying market is, so its best to start be repainting rooms that are currently wallpapered (also not popular with buyers unless the wallpaper is pretty new and very trendy) and rooms that are painted the strongest colors. In an ideal world, you will ultimately create an interior aesthetic that, while ever room does not need to be the same, the colors blend nicely together.
by Kathe Barge | Apr 19, 2023 | Buyers, Helpful Tips, Home Improvements, Home Staging, Listings, Market Trends, Marketing, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions
With the weather warming up outside, any tips for selling our home?
Spring is in fact in full swing! With the bright sunshine and warming temperatures, it’s a great time to be focused on making sure the outside of your home is looking it’s best. Whether you are thinking of selling your home or not this year, a yearly exterior audit of your home is always a good idea to keep it in its best possible condition. But if you are selling, curb appeal is critical to attract buyers. Start with the front of your home and work your way back to your non-public spaces. Make sure you have cleaned out your planting beds from the fall. Rake out any leaves, trim back shrubs. Order fresh mulch. Plant colorful annuals in your planters. Review your lawn and make sure it is in good shape. If there are bare spots, reseed them. If you have large trees on your property, make sure they are all healthy and any dead limbs are removed.
This is also a great time to make sure your gutters are clean – gutters full of leaves suggest a homeowner isn’t up on their maintenance. Be sure to have your windows cleaned inside and out. With the sun streaming in through the windows, all of the winter dirt is very apparent so its important to make sure they are crystal clear (this will also improve your photos!) Take the time to put out your outdoor furniture. Be sure patios and porches are well swept. Step back from your home and see whether your paint is in good shape- – if there are areas that are peeling, have the scraped and repainted. Be sure the front door is clean and nicely painted. Remove all seasonal décor (Christmas wreaths and lights). Ask a friend to stop by and do a quick walk-around for any areas that need attention – a fresh eye is always likely to catch those things you have gotten used to and overlook. Need help finding service providers? Reach out and I’m happy to share my lists.
Spring has in fact sprung! Make sure your home is well-prepared for the strongest market of the year!
by Kathe Barge | Sep 13, 2022 | Blog, For Sale By Owner, Helpful Tips, Home Improvements, Home Staging, Listings, Market Trends, Marketing, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions
Do we really have to have our home professionally deep cleaned before putting it on the market?
The short answer is yes, but here is why! When we live in our homes, we don’t see the dirt and the grime build up. Even if you have your home cleaned every week, it is impossible for a weekly cleaning to keep up with the little things. And when you want to sell your home, to achieve top dollar, it is important that your home sparkles at the highest possible level. We are no longer in a market where buyers are happy to get any house. We have moved back to a more traditional market and that means that sellers must take the time and incur the expense of a deep cleaning to make sure your home is squeaky clean and showing its very best.
Deep cleans are expensive and when done properly take many days of work. It is unlikely that your weekly housekeeper (if you have one) is going to have the time to clean at this level. Should you choose to take on the task yourself, you will soon see why deep cleans are costly and time consuming. So what is involved? In every room of your home, every surface must be thoroughly cleaned. Light switches and plugs should have all grime completely removed and restored to new, all vent covers (heating, ceiling fans, appliances) must be removed and washed (some may need to be repainted), all lighting fixtures must be carefully cleaned (including removing any glass bowls to clean inside) and should sparkle, all cabinets and drawers should be cleaned inside and out, windows should be washed inside and out including screens and tracks, carpets should be steam cleaned, shower grout needs to be cleaned, mineral build-up should be removed from shower/bath glass and all plumbing fixtures (try CLR and a scrub brush, or Stanley Steamer if the deposits wont budge), fireplaces need to be swept out and scrubbed down (if you burn wood in them, call a chimney sweep for a professional cleaning). All wood work needs to be washed down or repainted as needed to look fresh. Any smudging on walls needs to be cleaned or painted away.
Outside your home be sure that all doors are clean and fresh, that your porch/deck is clean (power wash if needed), that all lighting fixtures sparkle and that all patios and walkways are freshly power washed.
You may of course find it helpful to employ additional service providers, such as a power washer, carpet cleaner and window washer to get the job done right! It’s a big task cleaning up after years of enjoying a home, but it will absolutely pay dividends when you go to sell.
by Kathe Barge | Aug 26, 2022 | Buyers, Buying Conditions, Contracts, For Sale By Owner, Helpful Tips, Home Improvements, Inspections, Listings, Property Updates, Property Value, Real Estate, Sellers, Sellers-Contracts
We find the inspection process confusing – do we have to fix everything in the inspection report before we close on our home or just the repairs the buyer requested?
The home inspection report is the document from which your buyer works to make their repair requests of you. Some buyers will ask for everything and others will ask for only those items that they think are important. They may let some things go, for example, if they are planning on renovating an area and anticipate fixing those items as a part of the renovation.
Once you and your buyer agree on a list of repairs, these are memorialized on an addendum. It is that addendum, called a Change in Terms Addendum (“CTA”), from which you work when completing your repairs. You need not refer to the inspection again unless the CTA references it. You do, however, need to make sure that you do everything on the CTA exactly as specified, so be sure to read it carefully and provide a copy to your contractor(s). For example, if the CTA says that you will have GFCI outlets installed by a licensed electrician then you need to make sure you hire a licensed electrician, and not your favorite handyman, to make the repair! If the CTA says you must paint to match existing then you need to take a sample of the existing paint to the paint store and color match it – don’t rely on old paint in cans – paint fades with age and it won’t match. Be very careful to be sure you are complying with the terms of the CTA – if you do not, or if your contractor does not, your closing may be delayed or postponed until the work is done as specified. Along those lines, be sure to review your contactor’s work when complete and make sure that he actually did what you agreed to do on the CTA. If not, request that he return before it becomes a walk-through issue.
And of course, be sure to get paid receipts from all contractors, or if they have not been paid, notify the closing company so that they can be paid at closing. All repairs must be paid for before ownership changes hands so be sure to stay on top of your bills, and provide receipts to the buyers agent.
by Kathe Barge | Aug 8, 2022 | Buyers, Buying Conditions, Design, Downsizing, Helpful Tips, Home Improvements, Home Staging, Inspections, Market Trends, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions
We aren’t ready to move but want to update our home – what are the best choices for paint colors and flooring changes, assuming we may want to move in the next few years?
New paint colors must harmonize with the rest of your home, unless you plan to repaint the entire interior of your home, so any suggestions need to be taken in the context of what else is going on inside your home. My best suggestion for a currently fairly timeless paint color is Benjamin Moore’s Edgecomb Gray.
This color blends with virtually every shade of white that might be on your trim and nearly every color flooring that might be in your home. It is really more of a greige than a gray and, like a chameleon, changes color a bit depending on what is in the space and what kind of light is filtering in through the windows. However, if your home is a palette if golds, for example, this color might not be the right choice! Trending now is white on white (with trim and walls painted the same or nearly the same shade of white), but this is a design style that is best incorporated throughout the entire home, and not just a singular room. If you have wallpaper in your space, then it’s a very good investment to have it removed (do not paint over it, no matter what the painter tells you) and painted in a color that coordinates with your design aesthetic. Wallpaper overall remains a difficult sell.
As to flooring, real wood floors remain the best investment you can make. They are timeless and easy to refinish if they become worn or if the buyer prefers a different color. I highly recommend choosing a medium tone brown, not too yellow, red or dark and preferably in ¾” thickness. If engineered wood floors are what your budget requires, choose one that the manufacturer indicates can be refinished at least once, and keep a few extra pieces on hand in case you damage any through normal wear and tear. Bamboo is another great option and there are on-line suppliers that offer a variety of shades in ¾” planks – it is very resilient, environmentally friendly and installed can look like hardwood. I do not recommend that you choose the latest trend, “LVL” (luxury vinyl flooring), for anything beyond the basement level of your home. These are plastic floors, and if your home will likely sell for over $500,000, these floors will not be appreciated on the main or upper levels. Finally, carpet in a neutral tone plush (no berber, no mixed colors) is acceptable as long as they are clean and stain free. If you stain them during the remaining time in your home, you would need to replace them again before you sell your home.
by Kathe Barge | Aug 1, 2022 | Buyers, Helpful Tips, Home Staging, Listings, Market Trends, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions
We are thinking of remodeling our kitchen. Any advice for us if we want to be making good choices for resale?
As much as we would all like to be creative, when it comes to the “hardscapes” of your home – the things that are difficult to change – if resale is even a remote possibility for you, or if you want to be sure to get a high return on your investment (most people expect 100% which is not always realistic), its important to make “mainstream” choices that the buying public as a whole loves! How do you figure that out? Pay attention to what sells quickly in our market. Watch some HGTV. Check out Pinterest! Here are some easy rules to follow!
The most popular cabinet color by far is white! Yes, I know, everyone has been saying for the past two decades that white is on its way out, and that is just not true! Can you choose natural woods? Sure. Will it generate the same excitement on resale? It will not. Yes, it will resell, but probably not as fast or for as much as white. Colored cabinets? If you pick the right (think trendy) color and are selling soon, that can work well. But if you stay in your home for 10 more years, the color you chose may no longer be in vogue and may be a challenge to resell.
The most popular flooring in a kitchen is hardwood. Can you choose tile? Yes, but it will feel dated more quickly, so choose carefully. Bamboo, cork and upscale vinyls are far less popular but can be good choices, depending on the price point.
Countertops? Either granite or quartz are the most popular choices – either will sell well, but choose the color carefully. Right now lighter color palates are in style for countertops. Avoid Formica unless the property is lower end.
Appliances? Choose stainless. Brand is less important. It is the look that is key.
Lighting? Here is where you can show some of your personal style. Buy economically but not cheap. Lights are very easy to change, so if styles change, it’s a very simple way to give your kitchen a facelift before you sell. The same is true for paint, although wallpaper should be avoided. Yes, the design industry claims wallpaper is back in style, but as far as buyers are concerned, nothing has changed!
by Kathe Barge | Mar 30, 2022 | Buyers, Buying Conditions, Contracts, Helpful Tips, Inspections, Listings, Market Trends, Property Updates, Property Value, Real Estate, Sellers
The market is so hot right now and we aren’t having any luck getting a home – should we waive home inspections?
You are correct –the market under $1million is very fast paced right now, and in many instances, the winning bidder has waived home inspections. That does seem to be what it may take to “win” right now but I cannot recommend that you make that choice. Now several months into the “waive inspections” craze we are starting to hear stories about the expected fallout from this hasty decision.
From the seller’s perspective, I highly recommend that you have your home pre-inspected and repair or disclose the relevant items. While an inspection might cost you upwards of $500, it is money well spent toward a smooth closing. If you have pre-inspected your home and provide the report to prospective buyers, you are doing your part to make sure your buyer is well-informed. In the absence of a pre-inspection, I do not recommend that you accept an offer from a buyer who has not inspected your home. I have started hearing from home inspectors that disgruntled buyers are seeking post closing inspections to find problematic items and sue the sellers for failure to disclose. You don’t want that to be you. If you have not pre-inspected, we can discuss strategies to allow a buyer’s inspection and still protect you.
From a buyer’s perspective, as we all imagined would happen, the post-closing stories are starting to mount about buyers who purchased without an inspection and are now having all sorts of forseeable issues – roofs leaking, furnaces failing… If you are going to make this risky choice, you need to do so knowing that you will be assuming the risk of potentially tens of thousands of dollars of issues The contract specifically states that your inspection is your opportunity to find issues – if you waive that, you will be fighting an uphill battle to recover against anyone. Before you make an offer without an inspection contingency, you really do need to ask yourself if you are prepared to absorb those costs!
by Kathe Barge | Feb 2, 2022 | Buyers, Buying Conditions, Inspections, Listings, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions
Sometimes it seems like everything is breaking around our house and we get behind on repairs. Isn’t there some level of wear and tear buyers of “previously enjoyed” homes are expecting to have to accept?
The process of selling and buying a home involves many fine lines. How far do you take preparing your home for sale? Do you really need to address all of the items suggested by your agent, the home stager or the home inspector who did a pre-inspection? Do you really have to attend to everything your family has broken or worn out over the years
Anything that could come up on an inspection, if you know about it, really must be repaired or disclosed. My vote is repair. Even with items that are very obvious, when an inspector gets involved, he may blow the issue out of proportion and something that might have cost you $1000 to repair before you listed ends up costing you $3000 on the inspection request. If its something an inspector might find, you can bet he will find it and you will be expected to cover the cost of repair anyhow, so you might as well repair upfront.
Many buyers actually get quite nervous during the home inspection (also known as buyers remorse). If you happened to have gotten one of these buyers, it is possible that they could walk away from your deal if the inspection concerns feel too weighty to them. After you actually receive and negotiate the offer, the last thing you want to do is lose the buyer over items that you could have fixed but didn’t think anyone would notice or care about! In today’s market, they notice, they care. Sometimes they are willing to let you pay for the repair. Sometimes they just walk. Don’t take any chances. If you suspect it is likely someone would seek a repair, get it done!
Buyers, as much as I advocate for sellers to take care of the wear and tear items on their homes, it is important for you to be reasonable on your inspection requests as well. If you see an item that needs to be fixed while you are touring the home, take that into account when you make your offer and do not revisit it on the inspection. Inspection requests are supposed to be for items you didn’t know about and didn’t have a chance to adjust for in making your offer. Again, its a fine line buyers also walk in deciding what are fair and appropriate inspection requests of a seller.
by Kathe Barge | Nov 1, 2021 | Blog, Buying Conditions, Contracts, Listings, Market Trends, Mortgage, Property Updates, Property Value, Real Estate, Sellers, Selling Conditions
We are planning for retirement and thinking of paying off our mortgage – is this a good idea?
When it comes to personal finances, there is never a one size fits all answer. Financial advisors will often tell you that investing in the market will, over the long run, yield you a greater return than the interest rate you are paying on your mortgage (this has certainly been true in recent years what interest rates have been historically low). However, markets are unpredictable and unless you are leaving your funds in a savings account at a bank, there is no guarantee you will not have a negative return in the market (see, for example, 2008). Additionally, if you pay off your mortgage, you are not getting the tax benefits of the mortgage deduction (available for mortgages up to $750,000 in size).
However, the counter argument is equally, if not more, compelling for many people. Without a mortgage, you are freed from having to worry about whether you have enough cash each month to pay your mortgage. Without a mortgage, your monthly expenses will likely be significantly lower. This not only allows you peace of mind, but would also allow you more monthly cash to spend on things you want to spend on, whether they be trips, gifts, or just more “experiences.” If you ever sell your home, you will have a much larger nest egg to move to your next residence, whether it is to be closer to children or grandchildren in another location or whether it is into a retirement community (many of which do you have substantial deposit requirements). Finally, there is no “risk” to the return you will get by paying off your mortgage. You know what your interest rate is on your mortgage and how much of a savings you will get each month when you pay it down.
However, it is never advisable to completely deplete your savings just to pay off a mortgage. If paying off your mortgage would substantially reduce or eliminate your emergency fund, then it is not a good idea. If, however, you still have a few years until you retire and are able to pay down the mortgage at a significantly faster pace by increasing your monthly payment or by making a lump sum payment each year (perhaps designating a portion of a bonus that you receive toward your mortgage payment), tell me this is absolutely an option you should give some serious consideration to.
