When Is Downsizing Appropriate

Dated: February 27 2019

Views: 230


Here are four clear signs that suggest it might be time for you to downsize into a smaller home:

1. You are approaching retirement. Ever-increasing living expenses, coupled with the fact that we’re living longer, means people are looking for ways to reduce their expenses. Reducing or eliminating your mortgage may be one of those expenses.

2. You’re worried about maintaining your home. A larger, older home needs a lot of maintenance, in both the long-term and the present.

3. You have a lot of unused space. You may be cleaning rooms that you never use or don’t have large parties anymore.

4. For financial opportunities. Palm Springs has enjoyed great appreciation over the last five years. If you’ve owned your home for more than five years, you’ve likely realized that appreciation as well. With the added benefit of reducing costs, using the equity in your current home to get a new one where you won’t have to make a payment might be smart.

If you have any questions about home pricing or about residential real estate in general, please don’t hesitate to give us a call at 760-565-5714.  

This Blog courtesy of Will Cook, Will Cook Group, Keller Williams Luxury Homes, Palm Springs, CA |DRE # 01879277

© 2019 Will Cook Group. All Rights Reserved


Blog author image

Will Cook

Ranked in the top 1% of all agents valley wide and named one of the Palm Springs Life Top Realtors for 2019 and 2020, Will is an Associate Broker/Team Leader of the WILL COOK GROUP with Keller William....

Latest Blog Posts

How Will The Presidential Election Impact The Real Estate Market

Here’s a closer look at how the upcoming election will affect real estate.2020 will be remembered as one of the most challenging years of our lives. A global pandemic, a recession that causes

Read More

5 Tips To Selling Your Home In A Sellers Market

If you want to maximize your home sale in this seller’s market, here are the five tips you must remember:1. Create a buzz about your home. You want your home to hit the market with a bang and

Read More

Palm Springs Area Summer 2020 Market Update

What’s happening in the market? Well, homes are very affordable thanks to crazy low-interest rates. The only time the affordability index was higher was back when distressed properties dominated

Read More

What Is The Pulse Of The Palm Springs Area Real Estate Market During The Pandemic

What is the pulse of the Greater Palm Springs Area real estate market during the pandemic? I’m sharing some national news and local data to show how our market is doing amid the health

Read More