Minimizing your space and maximizing your lifestyle.
Often times, the word “downsizing” is read with a negative connotation–but it shouldn’t be. If you’re an empty-nester or are simply looking to escape the maintenance of your current home while enlarging your lifestyle, downsizing may be the perfect option for you. There are three “asks” you should consider if you’ve been thinking about making this move: the why, the how, and the when.
THE WHY: Why are you drawn to the idea of downsizing – or better yet, why aren’t you? When you take the time to really dive into your “why’s”, you learn a lot about your true feelings around a decision. Are you hoping to minimize the amount of upkeep in your current home? Do you feel overwhelmed with the space you’re in? Are you concerned about the finances of relocating/staying in your current place? Whatever your “why” may be, we are here to help. It’s important to discuss all of the options with a professional real estate agent, your tax attorney and/or any other financial professionals that can offer insight on this decision. There’s an extensive amount of resources at your disposal, and contacting the right professionals to guide you along the way is the first step toward success.
THE HOW: How do you plan to handle capital gain tax ramifications, along with any moving, staging, and repair costs? How will you accomplish this with minimal stress? How do you plan to minimize your current space before making this move? These are big questions, but they don’t necessarily require big and stressful answers. With the aforementioned connections and resources in your network, you will be able to solve these problems and craft a plan that fits into your budget and lifestyle. Many people are concerned with handling two mortgages at once while making this transition, but with the right amount of planning and preparation, this is an avoidable circumstance.
THE WHEN: The timeline needed to make all of this happen is an essential step in the preparation stage, and will make the process as smooth and stress-free as possible. This is why it is so important to talk with a professional real estate agent. Working with individuals who have endless experience in this area will help to make your move simple and easy. This doesn’t have to be a rushed decision, and with the right preparation, you will make this move, upgrade your lifestyle, and minimize your maintenance, upkeep, and stress in no time.
These are just a few of our top “thought starters” on this decision, and we have a free information packet on downsizing and moving procedures that is available NOW. Contact us today to receive this information and talk through next steps, because you deserve a seamless move, and we’re committed to making that happen.