Time to start thinking about downsizing and moving from the big house?
Do you think it’s the right time to downsize your footprint and upgrade your lifestyle? Over the years, the progression of baby boomers trading up one home for the next, settling for more sophisticated digs that fit their lifestyle and family needs was the trend. Then comes the realization that the kids are gone and retirement is just a few short laps away. For many empty-nesters, it can take a few years to come to grips with the reality that their once thought after dream home for life is now just too big and too much of a burden to maintain.
Don’t try and time the Real Estate Market
The feelings and emotions about moving are still the same today as they were twenty or thirty years ago, however, the economic factor is weighing more heavily on the decision process today. Homeowners know the home is too big and too expensive to run, but the memories and connection to the home are sometimes just too difficult to part with. I really like helping my older clients through this process because I know it can be difficult for them, and they really need someone by their side to help and if nothing else, just to listen. My perspective is that life is too short to wait. If the next chapter in your life is to travel the world, play championship golf in warmer climates, or be closer to your grandchildren, then timing the real estate market should not be a priority. Every year you delay your move could be time spent creating new memories doing what you love to do, in a home that fits your lifestyle and needs for today, not yesterday.
The Real Estate Market is Robust with Strong Buyer Demand
For many, burdens of owning and maintaining a big home is overwhelming. Downsizing your home today makes great sense, both in terms of economics and timing. The real estate market is robust with strong buyer demand. The timing really couldn’t be better than now to downsize. Qualified buyers with growing families still require larger homes and seek out communities on the South Shore because it’s a great place to bring up families. Demand is always consistent for quality homes in good neighborhoods.
So Many Property Choices For Empty-Nesters
For homeowners looking to downsize, there are all sorts of options. Some like to go back to the city and choose the urban option, others like the idea of a quieter and more retirement-like lifestyle on the Cape or in the Berkshires. For many, it’s all about the grandchildren and moving closer to wherever they are. If people want to stay local, and many do, there are a multitude of options including condominium and apartment style living, 55+ developments, or buying a smaller one-level home.
Upgrading your Lifestyle by Selling a big burdensome home
Nationally, the overall trend is home downsizing and home builders have moved away from the McMansions mentality and are now focused on constructing more efficient and open living space, with all the conveniences and upgrades buyers still expect. Downsizing your living quarters also benefits your bank book with lower real estate taxes, utility costs and annual maintenance. It can really add up on an annual basis when you crunch the numbers, but the greatest benefit to downsizing your footprint is the upgrade to your lifestyle, giving you more time to enjoy the things you like and want to do with friends and family.
If you’re thinking about downsizing your footprint and upgrading your lifestyle and would like to talk to me about all the options, please call me, George Jamieson, trusted South Shore REALTOR with William Raveis Real Estate at 617-877-4839 or by email at George.firstname.lastname@example.org.