It’s so hard to know when “the right time” is to Downsize. There are often so many factors at play. Is your family ready for you to downsize? How will it impact you financially? Are you ready emotionally? I could go on and on.
We’ve put together a list of questions to help you consider if you are indeed ready to downsize to a smaller place, find a new location or both.
Are you really empty nesters?
It’s hard to know if the kids are going to be permanently out of the house the first few years after they spread their wings. Have they moved into their forever home? Are you ready to give up hosting the big family dinners or are the kids eager to take on Easter dinner?
Are the proceeds of your home funding your dream retirement?
Often the sale of your home is earmarked to fulfill your retirement travel plans. Scaling down and/or moving to a different community can free up much needed cash for your retirement and give you an added sense of financial security.
Have you outgrown your current home?
Is your home just too big for you now?
Is your lifestyle changing due to health issues or better yet travel plans?
Is it time to downsize for financial reasons?
Are maintenance responsibilities weighing you down? Think about mortgage payments, property taxes and maintenance costs too. Freeing up equity and time can help you both financially and with quality of life, leaving you with more time and money to enjoy your life.
I’ve worked with many people over the years trying to decide whether now is the right time to sell. Please feel free to contact me, in full confidence, if you’d like to talk about whether now is the right time for you.
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