When It's Time to Downsize

Although real estate experts, buyers, and sellers all emphasize the significance of location, timing often receives less attention. When is the ideal moment for you to downsize? And where do you believe the most desirable and affordable location could be?

You may have found yourself in a situation where your children have all left the home and you’re faced with a space that’s simply too large for your current needs. Having a couple extra rooms may prove to be useful, but eventually that can turn into a burden for you to keep up with. Additionally, as we all inevitably age, considering the practicality of your current space is important as well. 

The first and most important aspect of downsizing that should be considered is determining your individual needs in regards to housing and lifestyle. Whether you’re moving solo or with your family, take a seat and think about what is most important for you.

Consider these factors:

  • Lower maintenance costs
  • Improved ecological footprint
  • Reduced cleaning time and energy
  • Retirement or preparation for retirement
  • An opportunity to declutter

A little advice from Berkshire Hathaway HomeServices Michigan Real Estate:

You may not want to list or rent out your current home prior to having a new home under contract. In most cases, you’ll want to have a new house secured before handing off the one you currently own. 

If you have a family, your kids may use your home as storage space for childhood keepsakes and belongings. Before hauling all these items to your new home, consider having your kids gather what they would like to keep or donate and encourage them to find a new space to store their own belongings.

Consider a practice run prior to officially downsizing. We recommend that you try reducing the space in which you currently live as a way to prepare for having a smaller home. Do your best to take up less space in the house you live in. Declutter, organize, and consolidate your belongings so that you might get a taste of what it’s like to be in a smaller home. 

If the area you’re considering moving to has a homeowners association, be sure to read all association documents, rules and regulations prior to your move. A lot of HOA’s require either monthly or annual dues, which is another cost to consider. Read these documents carefully so you know exactly what you’re signing up for.

Choosing your real estate professional is a very important decision. The right agent can help you consider all of your options. Additionally, your agent should help you find something that fits your best interests. Communicate all of your wants, needs, and concerns to ensure that you streamline the process of finding the right home.

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