Now’s a great time to downsize, but there are a few considerations you must make first.
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If you’re thinking about downsizing sometime in the next five years, now might be the time to do it. There are a few considerations you need to make, though.
First, consider the market we’re in currently. Throughout history, we’ve never been in a seller’s market for this long. However, when we’re at the height of a market, we only have one place to go, and that’s down. Because of this fact, you may net more money by selling now.
Also, interest rates are still very low. Assuming you’re selling a higher-end property and moving into a smaller property, this means you’ll have more buyers who can afford that higher-end property.
Don’t hesitate to call us if you want to take a look at some homes online and brainstorm.
Next, think about where you’re downsizing to. Are you thinking of moving to a hip new downtown condo, or perhaps a smaller house out in the country? In any case, this is the fun part of the process. This is when we normally start working with our downsizing clients, so don’t hesitate to call us if you want to take a look at some homes online and brainstorm.
Lastly, consider how much time you’ll get back after you don’t have to maintain your current property anymore. If you’re paying someone to maintain it, think of all the money you’ll save. You’re not alone in this regard—there are a lot of empty nesters out there who don’t want the maintenance that comes with having a pool or a large house anymore.
If you have any more downsizing questions or you’re ready to downsize and want to explore your options, don’t hesitate to reach out to us and get the ball rolling. We look forward to speaking with you.