Is It Time To Enlarge Your Life Style By Moving To Smaller Residence In An Exciting Location?

Dated: February 11 2019

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For today’s Baby Boomer homeowners, quality of life, cultural experiences, and even a room with a view are often must haves on their list of needs and wants in their next home.

If you are considering a move and downsizing appeals to you, there are many things to consider as this move may constitute a major change in your lifestyle.

Downsizing today is hardly what it was in years past.

There are so many urban chic destinations, or maybe relaxing rural options that might appeal to you. And if you like variety, you might even be considering two smaller and less expensive homes in separate cities or states, two places with completely different climates and recreational activities.

As you map out your potential plans to downsize, you will likely have many questions and many emotional decisions to make. Some advanced research and time spent in your potential new location(s) can be a great way to try it out. It’s also necessary to examine all of the financial ramifications of this type of move.

Here are some important questions to ask:

  • Are you looking to reduce your monthly obligations and maintenance
  • Will you have capital gains ramifications?
  • How will the move impact your property taxes?
  • What repairs, staging, and moving costs will you face on your current home?
  • To have the best negotiating power is it best to sell first and then buy?
Blog author image

William Suarez

I have been in real estate since 2006  and have worked with multiple family and investors in all aspects of real estate from standard sales, short sales, foreclosure and investment opportunities.....

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