Thinking Of Downsizing Your Home? Here Are Some Mistakes To Avoid:

 

Waiting too long to make the decision

 

As you get older, moving becomes harder and more overwhelming. If downsizing is something you are seriously considering, try to get it decided upon and done while it is still reasonable and not terribly challenging.

 

Overestimating what your current home is worth

 

It's easy to dream about the high price your home will bring, but a Red Diamond realty agent can professional can accurately price your home for sale. You might have a misguided sense of what is new and what is outdated.

 

Not asking for help from experienced professionals

 

Interview and choose a real estate professional with the experience to navigate you through the art of downsizing. They will explain the best way to price your home, how you should prepare it for sale, and how they will market it for you.

 

Interview Red Diamond Realty so we can show you how we outshine the rest!

 

How are you going to approach the loan process and the different types of loans out there? If you are 62 or older have you researched the possibility of a reverse mortgage to eliminate mortgage payments?

 

Getting Overwhelmed

 

Yes, there is a lot to think about when planning a move, but break it down and the tasks will become easier. Take into consideration what you Real Estate professional has to say about repairs, landscaping, etc. Tackle those things. Work on any clutter in the home. Potential buyers want to imagine what the home will look like with their things in it. This will also give you a chance to consider what you will want to take to your next home and what can be discarded or possible stored.

 

Choosing the wrong type of home to move into

 

Once you have made the decision to downsize your home, you will have to take into consideration the type of home you are looking for. Is it time for a single story? How much space is too little or too much for your comfort and needs? Should you have a guest room? Will you live close to family or is the plan to move to your dream location? Overall, make sure you are happy with the location, size and space of your home.

 

Forgetting hidden costs

 

Yes, downsizing will likely save you money on your mortgage and utilities, but you will still need to consider costs of moving, new furniture that works better with the new home, potential repairs, maintenance, HOA fees and other costs.

 

Not discussing your plans with your grown children

 

We highly recommend anyone who has grown children to speak with them before any plans are made. Grown children can be a great sounding board with your decision making.

 

Done right, downsizing can be a great idea! You can simplify your life, and possibly reduce your maintenance and utility costs. This is your time!