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The Benefits of Downsizing for Homeowners

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Downsizing is a popular choice for homeowners when they retire or when their needs change, but with inflation still high, it’s also a way to reduce costs.

If you’re thinking of downsizing ask yourself:

Do I really want all the space I have right now?
Have my needs changed since I bought my current home?
Do I want to move so I can try to save on housing expenses?

Downsizing could help cut down on your expenses. $$$$

If you downsize you may have lower energy costs and fewer maintenance needs.

A smaller home typically means lower bills and less upkeep.

Then there’s the potential windfall that comes from selling your larger home and buying something smaller.

Your equity can fuel your move. ⬇️⬇️

The equity you build up in your current house can help. May be enough to pay for some if not all of your down payment.

money bag

SOME HIGHLIGHTS:

Downsizing is a popular choice for homeowners when they retire or when their needs change, but with inflation still high, it’s also a way to reduce costs.
Downsizing could help cut down on your expenses and your equity can fuel your move.
If you’re thinking about moving to a smaller home connect with the real estate professional to go over your housing goals and look at your options with the local market.

What Are Experts Saying About the Fall Housing Market?

The housing market is rapidly changing from the peak frenzy it saw over the past two years. That means you probably have questions about what your best move is if you’re thinking of buying or selling this fall.

To help you make a confident decision, lean on the professionals for insights. Here are a few things experts are saying about the fall housing market.

Expert Quotes for Fall Homebuyers

A recent article from realtor.com:

“This fall, a more moderate pace of home selling, more listings to choose from, and softening price growth will provide some breathing room for buyers searching for a home during what is typically the best time to buy a home.”

Michael Lane, VP and General Manager, ShowingTime:

“Buyers will continue to see less competition for homes and have more time to tour homes they like and consider their options.”

Expert Quotes for Fall Sellers

Selma Hepp, Interim Lead of the Office of the Chief Economist, CoreLogic:

“. . . record equity continues to provide fuel for housing demand, particularly if households are relocating to more affordable areas.”

Danielle Hale, Chief Economist, realtor.com:

“For homeowners deciding whether to make a move this year, remember that listing prices – while lower than a few months ago – remain higher than in prior years, so you’re still likely to find opportunities to cash-in on record-high levels of equity, particularly if you’ve owned your home for a longer period of time.”

Bottom Line

Mortgage rates, home prices, and the supply of homes for sale are top of mind for buyers and sellers today. And if you want the latest information for our area, let’s connect today.

The Benefits of Downsizing for Homeowners

Momentum Is Building for New Home Construction

What Are Experts Saying About the Fall Housing Market?

What Are Experts Saying About the Fall Housing Market?

Expert Quotes for Fall Homebuyers

Expert Quotes for Fall Sellers

Bottom Line