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Whether you’re a recent empty nester or a soon-to-be retiree, you may be thinking about downsizing your home. These pivotal moments in life offer a chance to reconsider where you live and your current needs as you move from one chapter of your journey to another. Often, people find themselves wanting to downsize and declutter for a number of reasons, including having too much space, too much stuff, or even a desire to travel. Regardless of the reason you’re thinking about buying a smaller home, there are a few important steps to take to ensure you make the best of this move.
First, it’s critical to properly assess the value of your home. Although it may be enticing to dream about the possibilities of selling your current residence for far above market value, it’s essential to set realistic expectations about how much you’ll be able to sell your home for and how long the process will take.
For many people, this evaluation can be difficult without the help of an experienced real estate professional. The experts at the San Antonio Board of Realtors (SABOR) can use their experience and extensive knowledge to help you accurately estimate your home’s cost.
Once you have an estimate of how much you’ll be able to earn for your current home, it’s time to think about what you’re looking for when you downsize. Asking the right questions — What area of town would I like to live in? How much am I willing to spend? How much space will I need to accommodate my new lifestyle? — and planning ahead will allow you to choose your dream home for this later stage of your life. A Realtor, with their years of experience, will be able to guide you as you choose the ideal home for your future.
Part of the process of downsizing is figuring out just how much you want to downsize, which goes hand in hand with decluttering. Before selling your home, it’s essential to go through everything you’ve collected over the years and decide what you want to keep and what you’ll want to get rid of. Paring down your belongings will help you understand the amount of stuff you’ll be taking with you to your next house, which will give you a sense of how much space you’ll need at your next place.
Once you determine how much square footage you’ll require, you’ll want to begin shopping for new homes to get a feel for how much your new house will cost. Many people expect that selling their current home and moving into a smaller one will net them extra cash, but that’s dependent on each circumstance.
Some retirees want to downsize and move into a neighborhood with more amenities, for example, which may mean the property value of their future neighborhood is higher than their current one. An experienced Realtor at SABOR will understand the nuances of downsizing, and they can act as a sounding board for you throughout the downsizing process.
When you’re ready to list your home, having the knowledge of a Realtor can ease the burden of the process. The extensive paperwork can be overwhelming for individuals without realty experience. Legally, for instance, you’re required to disclose all information about your current property when listing it. If you don’t do this properly, it could cause problems in the future. With a Realtor by your side, you can rest assured that the paperwork and closing procedures are completed correctly.
For anyone retiring or becoming an empty nester, selling your current home to downsize is an important step to move on to the next phase of your life. The process can be difficult and time-consuming, but with the assistance of the experts at SABOR, you can have the peace of mind that you’re in the best hands with a professional Realtor. For more information, visit https://realestate.sabor.com/.
