Real Estate
Life is meant to be done in community. As we go through life, we go through different stages that leave us in different communities along the way. Communities that share interests, activities, abilities, and conversations. Moms hang out with moms. The grandparents with grandparents. The young adults with young adults. Do you find yourself in a place where you need to downsize into a community that better fits you?
Reasons To Downsize
Downsizing looks different for everyone. Most people think of downsizing as going into a retirement home. That’s far from the only reason.
Economic Reasons
Today’s economy has left families all over the country in hard spots. Downsizing for some families is a tool to alleviate the financial stress. A smaller home in a new area can give families lower mortgage payments.
Empty Nesting
As families grow up, rooms in the home can end up emptying and parents find themselves empty nesting. When a home meant for five now only holds two, it can feel far too big, empty, and too much to take care of. Downsizing into a one meant for two in a community with others in the same stage of life can be a good direction for the empty nesters
Retirement
Of course, retirement is entirely a reason to downsize to a smaller home. Joining a community of others who have just entered the phase in life that’s loaded with more time can help you thrive in this new stage of life. This does not mean that you go to a home with constant help, though if that’s right for you it can be an amazing place! It can be a neighborhood with like minded people in the same place in life.
Things To Know When Selling Your Home To Downsize
When you are ready to downsize, the herculean task of selling your home can be intimidating. There are several factors to think about as you get started. If now is the right time for you to sell, you should also know that we are currently in a buyers market. This will impact your home sale as you prepare to downsize.
Homes Often Sell Slower
When we are in a buyers market, the buyer has the advantages. The first being that they have time to shop. Houses are not “flying off the shelf” as quickly as we see in a sellers market. You should expect the same when mentally preparing to sell your house during a buyers market.
Make sure that you have an extended timeframe in mind for the sale of your house. This type of market is not so easy for those who need a fast sale.
Homes Sell At Or Below The Listing Price
With sellers having so much competition, oftentimes you will get offers that are not quite what you were hoping for. Buyers will offer below your asking price, ask for repairs, rate buydowns, and other asks. If you are needing to sell your house sooner rather than later, accepting an offer with these may be the best way for you to go.
Home Prices Decrease During A Buyer’s Market
If homes are consistently selling for below asking price, you may find that people are listing homes for a lower asking price. This is another tool you can use to compete in the market. With so many options for buyers to choose from, a lower price can help bring buyers your way!
If you are working with an agent, don’t be surprised by them suggesting a lower listing price than your neighbor got 6 months ago.
There Are A Lot Of Homes Listed The Market
Due to the number of homes that are being listed, the house you have come to love may appear like a dime a dozen to the buyers who are looking at houses like yours. They also may be thinking of biding their time for “the perfect house.” This is the time to prepare your house and really let it shine! Make sure to not only address necessary repairs, but look for places you can do small renovations or sprucing up. Updates to your home can make a huge difference in your sale.
Selling With ASDM Homes
Eric with ASDM Homes offers an alternative to help you sell your house fast and get you into your downsized home faster. Cash offers can help you sell your house quickly, for a fair price, without the need for repairs, inspections, or having a line of strangers walk through your house. Selling a house on the market can be a long and difficult process. Selling your house does not have to be.
If a cash offer is what’s right for your downsizing journey, Eric with ASDM Homes is here to help! We can give you a fair cash offer, help with all the legalities, and streamline the process to help get your home sold and cash fast! Contact Eric today to find out what you can get for your home and how quickly you can get that cash in hand!