Are you an empty nester looking to downsize? We were on Twin Cities Live/KSTP Channel 5 to give advice to those considering downsizing now that the kids have moved out.
Is now a good time?
Yes, in 2017 prices are up and inventory is low- so it’s a good time. People are waiting for your house.
Should I make updates?
If you can do it, we suggest making some updates. If you’ve been in a house for 15-20 years, spend some money to update as you’ll get more money for the house and sell it faster. Kitchen is a number one area, but paint and flooring are easy to do and go a long way cosmetically.
I want to downsize, will it be cheaper?
Smaller doesn’t always mean less expensive. You may be trading square footage for the higher amenities you’ve always wanted. Work with your realtor to understand costs of what you want to buy so you have a good understanding of what you’ll get for your home and what to expect your new home to cost.
What about all my stuff?
Years in a house can often mean accumulation of personal belongings. While you are selling, work with a storage facililty to get some of the extra stuff out of the house so buyers can focus on the special features of your home.
What do people downsizing look for?
Empty nesters are looking for one-level living, maintenance on the property, and the work involved caring for your property. Consider if you are going to spend winters down south and how to care for your home while you are gone. If you are considering a condo, we suggest renting first to get a feel for that type of living.
For more of our segments on Twin Cities Live, visit our You Tube Channel.