Are You Ready To Downsize?
The first question we ask folks when they say they want downsize is this, “What does downsizing mean to you?”
Are you looking for…
Smaller square footage in the home?
A smaller lot to maintain?
Are you hoping to lower your payment?
Maybe you just want the rooms rearranged to function for your lifestyle?
Do you need your home to have no steps or an elevator?
Are you looking for a 55+ Community with amenities and gathering places?
Do you prefer a main level living home in a non 55+ community?
Can you live with the restrictions a 55+ community requires?
It is never to early to start the downsize question. The homes with main level living are being snapped up in record numbers as seniors ask themselves the downsizing questions. The Silent Generation, those born 1928 to 1955 and Baby Boomers born between 1946 to 1965 represent a staggering 123 million people who will be facing this very question over the next 25 years. Once they step into the market and explore their options in Northern Virginia they typically find their options are very limited. Builders were slow to see the need for main level living and the land costs in Northern Virginia area make it difficult to build an affordable home for many.
So how do you go about finding your forever home when you know there is limited inventory and you are not quite sure what you are looking for?
First get laser specific on needs vs wants.
Decide what rooms will be must have’s for you in your new home.
Do you need a formal living room?
Do you want a basement or loft?
Do you want a home with a view?
When is you ideal move time?
Where is your ideal location?
Once you have determined these questions it is time to reach out to your local REALTOR.
REALTORS help you formulate a plan of action. They will help you determine the value of your present home. Be open to what your REALTOR recommends, after all it probably has been some time since you were a buyer and today’s average buyer is 33 years old who will be looking at buying your larger home. They do not have a lot of cash for repairs and tend to look for homes that are updated and ready to move into with little or no work needed. Ask yourself does my home need some updating or a bit of a face lift to attract top dollar. What will be my return if I make those changes? Your agent will talk with you about how to donate, sell or dispose of items you will not take with you.
At this same appointment your REALTOR should be able to talk with you about your future housing needs and where you will find what you are looking for. This appointment can be informative and really is best if done at least six months ahead of your ideal move time.
Now how will you fund your purchase?
Next it is time to speak with a lender or financial planner to determine the best way to fund your purchase. Questions you will want to ask the lender..
Can I buy first and then sell, this is so much less stressful!
Can I move some investments around to secure a home non-contingent on the sale of my home?
With this information you will then be able to regroup with your agent to formulate a strategy for down sizing that works for you. Here at TwinsSellingRealEstate.com we pride ourselves in walking our buyers through every step of the process.
If you have a move on the horizon just know we can coach you on all of your options and we will help you attain your GOAL. No matter how long it takes.
Call Peggy James Listin Specialist 703-851-3085 or Patty Blackwelder Buyer specialist at703-801-9367 we are here to help. We work together asa team to bring your goal to reality. You will have a specialist for each side of the transactions yet we work together seemlessly to keep your stress to a minimum.
EXIT Realty Associates Lorton Station Blvd, Lorton VA 22079 Equal Housing Opportunity