Millions of homeowners live in large, often multi-story homes that they don’t need any longer. Their kids have grown and moved away. They don’t like cleaning it. They can’t manage the huge yard.
But they own it free and clear. Moving can possibly be unprofitable, since they’ll need to buy another, smaller home in a high-priced market with higher interest rates.
There are a lot of factors in play, and no easy answers. If you’re in a house that’s too big, the best assistance I can provide is to show you some of the downsizing opportunities in our area. There are communities and neighborhoods you might enjoy that fit your price target, allowing you to move into a lifestyle you want without sacrificing your hard-earned equity.
We can discuss what’s happening in the market…including risks and opportunities. You might be in a sweet spot right now where you can still sell at a high price but buy lower.
Since all real estate is local, a careful local analysis of homes selling around you is the best way to determine your current house value and future pricing trend. Let me know if you’re thinking about downsizing. There’s absolutely no obligation.