When Is Downsizing Appropriate

Dated: February 27 2019

Views: 254


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

Taking Advantage Of A Sellers Market With No Inventory

Here are three strategies to help you win as a buyer and seller right now.As you’re probably aware, we’ve been in a very strong seller’s market for the last 12 months in the Greater Palm

Read More

The Advantages Disadvantages Of A PreListing Inspection

Here’s what to consider if you’re thinking of doing a pre-listing inspection.Is a pre-listing home inspection—which is an inspection done prior to listing a home on the market—beneficial to

Read More

3 Options For Sellers Dealing With Low Appraisals

If you’re a seller, here are three ways to rectify a low appraisal.We’re in a very strong seller’s market in the Greater Palm Springs area, and it’s not unusual for a home’s appraised

Read More

Whats Happening In The Palm Springs Area Market

Here’s what’s been going on in our greater Palm Springs area real estate market.In the greater Palm Springs area, we continue to be in a very strong seller’s market. To illustrate that, we

Read More