Generally when it comes time to make changes on your housing situation, downsizing might not be the first conclusion you come to. Often, people are so consumed with deciding where to move, how to move, or whether or not to move at all, they fail to consider other options. And, often times, those other options are actually the most reasonable.
So, what kind of alternatives are we talking about? Well, have you ever considered simply downsizing to your next home? Downsizing your home is a great way to take that next step in life, without needing to commit to something that’s just too big to handle.
Here’s why 2017 is YOUR year to downsize your home.
1. Downsizing Isn’t as Bad as You Think
When people hear the word “downsize,” they sometimes get freaked out. “DOWNSIZE? HOW CAN I POSSIBLY DOWNSIZE?” Well, it’s a lot easier than you think, and the trade-off is pretty good. Downsizing means you get to essentially start over again. Get rid of things you don’t need anymore, or maybe even things that you’ve needed to let go of, but you haven’t been able to. Additionally, moving out of that big house into something smaller is exciting for lots of reasons. You get to have that cool new condo or apartment you’ve always wanted, less things to clean, less to maintain, etc.
2. The Market is Ideal Now
Right now, the market for buying a home, surprisingly, is doing quite alright. That’s because currently, millennials and baby boomers, who are the two largest generations in history, are at the home buying age. And, remember, we aren’t talking about first-time buyers. While millennials may very well fit into that category, the baby boomers may be looking at retirement homes and the empty-nesters may be looking for something that’s much smaller (but can still manage accommodating “the grandchildren.”) We are in between two demographic waves that will power the marketing demand for at least the next ten years. This is therefore an ideal time to downsize.
3. Price Appreciation is Going Down (Just Like the Amount of Rooms In Your Next Home!)
For the first time in some time, price appreciation of homes is going down. This is another great reason to downsize to that luxurious new home that’s been catching your eye. Nationally, the price of homes are forecasted to slow down to a 3.9% growth, as opposed to last year, when that growth was up approximately 4.9%. That means getting your new, downsized home won’t cost you as much as you think it will.
4. It May Also Be a Good Time For You to Sell
Generally, the bad news for those looking to buy is that the supply is comparatively lower than other years. Housing inventory at the moment is just not what one would hope for if he or she wanted to have a lot of options. However, if you’re looking to downsize, then this is actually good news for you. Ultimately, fewer homes means a fast-moving market, which means you can get out of your home and into a smaller one in no time!
Karina Christensen of Denver Luxe Team says, “People often put off moving when the stress of selling a house is too complicated. These people can’t even consider moving into a downsized home if they can’t sell their current home to begin with. But, if you take the time to look at the market, you’ll see that the process isn’t as complicated as it once was.”
5. Because It’s Now or Never!
Once people get to a certain point in their lives, they can choose to stay in their home, or make use of the investment they’ve made and move on to the next chapter. Houses are great for raising families and making memories. And, owning a home in the suburbs with the white picket fence and all that jazz has always been the American dream.
But, times are changing, and if you ask most people, they want life to be just a little bit simpler. Downsizing gives people the chance to tone things down and live minimally. When you downsize, you’re not only making a change to your physical space, but also your lifestyle overall. And, studies have shown that simplifying and owning less often gives people greater peace of mind…thereby leading to an increased sense of happiness and fulfillment in life.
Here at Denver Luxe Team we make downsizing a whole lot easier for you. To take a deeper look at the current market and talk to an expert about your options, contact the Denver Luxe Team today.
Send us a message or call us now at: 720-440-2640.
Author: Hana LaRock