DOWNSIZE Guide FOR SENIORS

Designed to help seniors market and sell their home to potential buyers, and do so in a thoughtful and fullfilling way!

Simplifying Your Life with Confidence

These days, downsizing is viewed as a step toward better living and increased freedom. Say goodbye to upkeep problems and hello to the modern urban lifestyle of high-rise living or an active-adult community. Align yourself with others looking for new experiences, better family bonds, and exciting adventures. It's more than just relocating; it's about improving your quality of life.

The Basics - What is downsizing? Downsizing is moving from a bigger home to a smaller one, usually with lower maintenance costs. It is not about reducing your living standards but adapting your lifestyle to new circumstances. For example, you may downsize from your vast family home to a smaller but intriguing apartment, townhouse, or retirement community. Alternatively, you could investigate one of the more compact single-level homes as your retirement home.

Regardless of the location, downsizing entails reducing belongings, including furniture and automobiles. This period might be difficult, especially if you are deeply settled in your current residence. Hence, if you find it challenging to make the move, consider seeking professional help for smooth access to vibrant communities nearby.

Do I Sell My Current Home After or Before Downsizing? Whether you sell your house before or after downsizing in retirement as a senior depends on several factors, including your financial situation, housing preferences, and schedule. Let's look at some essential elements to help you make this decision:

• Financial Considerations: Selling your property before downsizing allows you to use the proceeds to buy a smaller home or join a retirement community. On the other hand, if you are considering a downsizing before-a-move strategy, it might be because you're financially prepared for the entire process but have yet to receive the best offer for your current home in the market, or an appropriate next property.
• Housing Preferences: Consider where you plan to move after downsizing. If you already have a specific residence in mind or are considering moving into one of the readily available 55+ communities in Santa Cruz with limited financial availability, it may be prudent to sell your home first to ensure a smooth transition.
• Type of Property: Some properties take time to sell. For example, Santa Cruz luxury homes might not be as attractive to buyers if they're situated in areas that typically draw middle-income buyers. Evaluate your type of property, its location, and timeline for downsizing. After decluttering and downsizing, putting your home on the market can give you more time to find the right buyer.
• Logistical Considerations: Downsizing involves decluttering and potentially selling or donating items, which can be easier to manage when you do it while you're still living in your current home. On the other hand, selling your home first allows you to focus solely on downsizing and transitioning to your new living situation without the burden of managing multiple properties.

• What You Need to Know Before Getting Started
• What About Capital Gains Taxes?
• What are the Estimated Costs of Your Next Home?
• Budget for Moving Costs?
• Is Your Timeline Realistic?
• Room-by-Room Assessment
• Storage Capacity
• Accessibility
• Letting Go - What to Declutter

Retirement Community Resources

• Explore 55+ communities across the country (US)
• Top Retirements (US)
• California Retirement Communities (CA)
• Best Places to Retire (US)
• Over 55 Mobile Home Parks
• California’s Senior Housing Outlook
• 2023-2028 Seniors Growth and Demand Report
• Planning for California’s Growing Senior Population

Please review our Downsize Guide to discover more about selling your home, and if you would like a Complimentary Home Valuation to prepare for the selling process, contact us today!

Complimentary 40-page copy of Downsize Guide for Seniors!
Many of my clients start educating themselves about the real estate market about six months to two years before deciding to sell or purchase a home. To that end I have put together guides to help educate, and include a smart search feature to narrow down your choices and property features based on your needs. I made it easy to search and save the search so you can monitor the market and make your decision when you’re ready. Please complete the form below.