Michelle Gillespie - Keller Williams Realty



Posted by Michelle Gillespie on 8/19/2018

Your 401K is a great resource of investing for retirement. Many people use their 401kís as a part of their overall investment strategies, pulling money out of it when itís needed. When youíre ready to buy a house, you may think that pulling money out of your 401k for a down payment is a good idea. But think again. 


Although you should always speak with a financial professional about your money matters, the bottom line is that is probably not the best idea to use your 401k to supply money for a downpayment on a home. 


First, your 401k funds are pre-tax dollars. That means that you havenít paid any taxes on these funds. Your employer will often match the amount of money that you put into your 401k, as an incentive to help you save money for your future. You need to keep your 401k for a certain amount of time before any funds in the 401k become available to you without having to pay any kind of penalty. If you decide to take on the penalty, you can often face a cut to your employerís match programs as well. This is why you must make this decision wisely. 


The Penalties


Anyone under the age of 59.5 pays a penalty of 10 percent to take the money out of the fund. In addition, youíll now need to pay taxes on this money, because it becomes a part of your adjusted gross income. 


Alternative Actions


If you are looking to invest in a property, there may be other options for you rather than pulling money out of your 401k. While some plans allow you to borrow money from it. However, if your only option to get money to invest in a property is to pull money from your retirement account, it may not be the best time to invest in property for you. 


Keep It Separate


If youíre younger (say in your 30ís or 40ís) your best option is to have a completely separate account that is used to save for a downpayment and other expenses that youíll incur when you buy a home. In this sense you arenít spreading yourself too thin as far as investments go. You should compartmentalize your money. Buying a home is a large investment in itself. Home equity can also be a good source of a nest egg in later years when you need it. However, even if a property will be an income property, itís never smart to take from one investment account to provide for another unless youíre shifting your focus. You donít want to reach retirement, only to see that your funds have been depleted and you canít retire as expected.




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Posted by Michelle Gillespie on 8/18/2018


61 Morrissey Rd, Marlborough, MA 01752

Single-Family

$499,900
Price

9
Rooms
4
Beds
4
Baths
This beautiful Colonial, brimming with curb appeal will make you feel at home before you even step inside! Once inside, French doors and hardwood floors welcome you into the formal living room, and dining room with upper deck access. The spacious kitchen features a dining area and slider to deck. You'll find additional space to entertain or relax in the family room with gas fireplace, plus a full main level bathroom with laundry hookup. Upstairs, four bedrooms offer comfortable carpeting and ample closet space. Two full bathrooms, including a master bath with shower and double-sinks, provide convenience for those hectic mornings! Finished lower level includes full bathroom, ideal for in-law quarters or office - sliders to walk out onto oversized deck offering outdoor entertainment opportunities. Hook up in place for hot tub. Low backyard filled with slope filled with trees, low maintenance. Property ideal for solar panels. Two-car garage. Short drive to Rte 495 & 9 and Mass Pike.
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Posted by Michelle Gillespie on 8/16/2018


438 Howard Street, Northborough, MA 01532

Single-Family

$849,900
Price

12
Rooms
4
Beds
2/1
Full/Half Baths
An elegant foyer welcomes you where you'll find updates & luxurious details throughout this custom home. The formal dining room w/crown molding, chair rail, and transom window and living room with hardwood floors with inlay provide great space for entertaining. The updated kitchen features granite countertops, stainless steel appliances, double ovens & island with cooktop. Relax & entertain in the family room w/fireplace & access to the deck. A half bathroom & study complete the first floor. Upstairs, you'll find the privacy you need in 4 spacious bedrooms. Escape to the master suite w/cathedral ceiling, walk-in closets & sitting area, as well as a master bath w/jacuzzi tub. The lower level offers a game room w/bar, office w/French doors to patio & additional storage space. Outside, enjoy passing your time on the multi-level deck & patio. Many updates throughout. Located on ~6 acres w/walking trails near Mt Pisgah, w/easy access to 290, this is the property you're waiting to call "home
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Posted by Michelle Gillespie on 8/16/2018


18 Coolidge Circle, Northborough, MA 01532

Single-Family

$559,900
Price

10
Rooms
4
Beds
2/1
Full/Half Baths
Motivated seller looking for a buyer for 4-bed Colonial in desirable Pineknoll neighborhood. Beautiful hardwood floors run throughout the 1st floor living areas. Off a warm & welcoming entry, you'll find a spacious living room w/fireplace. The updated kitchen features granite countertops, breakfast bar & casual dining area w/French doors to the deck, while the dining room w/chair rail & chandelier provides a formal space for entertaining. The family room offers a comfortable space to relax w/cathedral ceiling, wood stove, bay window & deck access. A half bathroom & laundry room on the main floor. Upstairs, 4 generous sized bedrooms, including a master w/en suite bathroom, and additional full bathroom provide ample space for family & guests. The finished lower level offers versatile space & storage. Relax on the deck & enjoy ~1 acre of land on a tree-lined cul-de-sac. With a 2-car garage, easy access to the highway & commuter rail, this property is ready to welcome you home.
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Posted by Michelle Gillespie on 8/15/2018


320 Newton Street, Northborough, MA 01532

Single-Family

$449,900
Price

8
Rooms
4
Beds
2
Baths
A nature-lover's retreat! This beautifully maintained 4-bed Cape is situated on a picturesque tree-lined property near Mt. Pisgah. Stop to appreciate the curb appeal, then step inside and take in the gleaming hardwood floors that run throughout. Enjoy the formal living room with beamed ceiling & fireplace and formal dining room with chair rail & built-ins. The updated kitchen features granite countertops, tile backsplash, French door refrigerator & breakfast bar. The open concept layout & family room with access to the deck make entertaining a breeze, while a full bath with laundry add convenience to this sun-drenched main level. Upstairs, you'll find four bedrooms & a full bathroom with custom tiled shower, providing everything your family & guests need! A walk-out basement with fireplace & 2-car garage add to this wonderful home, while a deck & two acres of land allow you to fully enjoy this beautiful property. Schedule your showing today & start packing tomorrow!
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