What are eight concerns for people downsizing and reasons why someone may consider downsizing their home?
The biggest concerns to people downsizing and moving on in their journey:
- Where will I go?
- I have too much stuff!?
- What can I afford when selling here and moving there?
There are lots of reasons people choose to downsize. Some never leave. And that’s okay!
What are some of the parameters surrounding your decision to downsize your house?
- The new empty nester
- Family resides elsewhere.
- Your home is too big or too much maintenance.
- Yearning to live in a different climate.
- You’ve always wanted to live in ______.
Five steps to start the downsizing process:
- Talk to a Realtor to get a market analysis. The Comparative Market Analysis (CMA) will give you an idea of what you may be able to sell you home for and what needs to be done to make it “market ready.” We have vendors, such as organizers, contractors, estate sales, junk removal, etc.
- Talk to a lender. This will give you a sense of what you can afford in a new house, when using the proceeds from selling your current home. Can you afford two mortgages, if you want two smaller homes? Can you cash-out one of your current houses? There are programs to help with this.
- Start an online search in the areas where you are considering moving. Make trips to the area(s) during different seasons to see what it’s like. Everyone wants to move to that perfect beach town in on the sunniest and most temperate day in July. What’s it like in February, when you live there year-round? In your online search, check property values. This will give you an understanding of what your money will buy. We can also connect you with a no-pressure agent(s) in your area(s). An agent, who knows the area, will definitely help you explore.
- Understand what type of properties you would like, such as zero maintenance (Condo) to a little maintenance (Townhouse) or to more maintenance with a single-family home.
- Plan and take it slow. Don’t underestimate the psychological connection. There are plenty of memories you made in your home.
Please remember to give us a great compliment by referring us to your family, friends, colleagues or associates…or anyone with whom you wish to make a positive impression!