What to Ask Yourself Before Downsizing

If you’re entertaining the idea of downsizing, here are two key questions you need to ask yourself before making your move:

1. Would you like to downsize in the area you’re currently living? If so, what type of home would you like to have? Would you like to go from your single-family home to a townhouse or condo, or would you rather rent?

2. What are your must-haves for your new home? For example, if you’re a cook and currently have a chef’s kitchen, would you like to have the same type of kitchen? Or, if your garage is important, will your new home have a one- or two-car garage? Knowing your must-haves is key in determining where you want to live.

"Take a moment and write down some of the things you’d like to have in your new home."

After that, you must determine how much you’d like to spend on your new home. You're getting money out of your existing home by selling, and that’s why you’re downsizing. I’m sure there are other things you’d like to do with your money, so keep in mind how much you have, how’d you like to spend it, and how much of it goes toward your new home.

The bottom line is that there are several questions you need to ask yourself before downsizing, so if you’d like to talk more about this subject, give our team a call. In the meantime, take a moment and write down some of the things you’d like to have in your new home.

If you have any other real estate questions, feel free to reach out to us as well. We’d love to hear from you.