11 Things That Will Be Cheaper in 2020
Want to save big in the new year? All you have to do is take advantage of these seriously smart opportunities.
If you’re selling a home in 2020, you might be able to save money on real estate transaction costs. According to Andrew Herrig, founder of Wealthy Nickel, new competition in the real estate market could save home sellers a bundle. “Traditionally, 8 to 10 percent of the sale price of a home was eaten up by closing costs and realtor commissions,” he says. “But with the entrance of new competitors, such as discount brokerages and Silicon Valley–funded iBuyers (Opendoor, Zillow, etc.), the landscape is changing, and transaction costs are coming down because of it.”
But keep in mind that a discount brokerage isn’t the right choice for everyone trying to sell a home. It’s best to research all your options and interview multiple real estate agents before you make a commitment. And don’t miss these 18 signs you’re about to hire the wrong real estate agent.
In 2020, quality financial planning options will continue to become more affordable to the middle class, predicts R.J. Weiss, a certified financial planner and the founder of The Ways to Wealth. “While for years, the standard was a flat 1 percent fee for assets managed, many new types of financial companies are getting into the game,” Weiss explains. “Companies like SmartPath and Facet Wealth provide access to CFPs at a very affordable price. In addition, more investment institutions and robo-advisors are providing clients access to certified financial planners.” If you’re new to the process, make sure you know these 9 financial planning terms.