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Is It Time To Enlarge Your Life Style By Moving To Smaller Residence In An Exciting Location?
Dated: February 11 2019
Views: 490
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?
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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Based on information from California Regional Multiple Listing Service, Inc. as of October 6, 2022 5:25 AM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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