Topic 2: Is your gut telling you that something isn’t quite “right” with your home anymore? Or, maybe it’s something obvious that can no longer be avoided or ignored. 

No matter what it is, you’ve realized your home isn’t working for you like it first did.

You’ve changed, your life has changed, and your expectations have changed since you bought your home.  And it’s completely normal to find yourself no longer satisfied with your daily life there anymore. 

And that’s why you might be ready to “right-size” your home! It’s when your current home isn’t the right fit for your life, but moving can be a hard decision to make for many homeowners; emotionally, financially, and logistically. 

What’s Holding You Back ?

When you still love your home and cherish the memories made there (especially if you’ve been there for many years), love your neighborhood, or absolutely love your neighbors, staying put feels comforting and safe. 

And for some homeowners, the hassle of packing up a home, going house hunting, getting financing, and buying and selling at the same time seems daunting. 

All of these factors can make some homeowners hesitant to move. Can you relate? But you daydream about what life could be like in a different home or you constantly feel burdened by your current home, listen to those clues and start by making a list about why you want to right-size and why it could be the right time to move.

Sometimes the signs are right in front of you but you just need a bit more clarity. That’s where I can help you answer your whys. 

Making the decision to move doesn’t have to be overwhelming or stressful if you put careful thought into it and seek out help from a real estate professional like me. Together we can determine when is the right time to move or if you should stay in your current home a bit longer.

Today’s article is a great overview of the factors you should consider if you are confused on whether you should move or stay. It should help you get closer to making a decision that’s best for you.

Signs that It’s the Right Time 

First up, determine if your needs and wants are still being met living in your current home. Are there signs pointing you toward making a move? 

This is when you ask yourself lots of questions and dig deeper to picture how you see yourself living in the years to come. 

I also tell clients to plan to stay at your next home for at least five years, and anticipate what your life is going to be like by then so this next home is the RIGHT one. 

Here’s what to consider:

• Your life has changed or will change. You want a home that reflects your new or evolving needs.  

Sometimes you can anticipate upcoming life changes that will happen within the next few years. With some foresight, you can perhaps time a move when the housing market is healthy and interest rates are low. 

I can guide you on the direction of the market and where interest rates may be going. Together we can make sure to time it right for your particular situation or your own moving goals. The earlier you contact me, the better!

• Can’t or won’t remodel. You love HGTV and can imagine your home remodeled and updated with larger rooms and a gleaming kitchen. Plus you get to stay in the neighborhood you love!

But you realize it’s only a fixer-upper’s dream. Your yard is too small for an addition, you’re not zoned for it, or you just can’t live through the mess or cost. 

Moving can provide you with the sanity you crave, the space you need, and you can ditch the rejiggering of the floor plan. And you can always seek out homes in your current neighborhood if that’s a priority.

• Location, location, location.  When you bought your current home, it probably felt like the perfect location for you,but maybe not anymore. So many variables can go into what makes a well-suited neighborhood for you and what doesn’t at this point in your life.

There are lots of variables that can go into selecting a location but it all comes down to what you want now and where you picture yourself living in the years ahead. 

Don’t forget that if you truly love the feel of your current location but need a different home, we can always seek out other neighborhoods with a similar feel with homes you can afford!

• Square footage is NOT working – too much or too little. You want to say good-bye to rooms cluttered with toys, or you have unused bedrooms sitting empty that you have to clean, heat and cool.  

You want to move from that starter home to a “forever” home; or you want to move from your “forever home” to that condo that allows you to save time and money on maintenance costs and allows you to just lock the door and travel for months at a time.

Remember that your space needs could change again so plan accordingly for down the road (at least 5 years!). 

Time It Right Financially

Next up, money factors and how they can make your move affordable and more doable. Certain times are the RIGHT time to move financially and you should take advantage of the timing if you’re thinking a move is in your future. 

Here’s what to consider:

• Equity in your home.  If you have owned your home for more than a year or two you should have built up substantial equity, putting you in a prime condition to move. This is when your investment in your current home can help you purchase your next right-sized home!

You can tap into this equity when you sell your current home and use the profits from the sale toward the purchase of your next home, perhaps helping with a larger downpayment if moving up to a larger or more expensive home. 

If you’re downsizing, you can look forward to the extra cash from the sale of your larger home to use toward your next home or for living expenses or investments or whatever if you expect to save some dough.

• Positive financial outlook – steady employment/income or stable finances/investments. If you’re in a good place financially, all the better when it comes to right-sizing for your next home. Lenders will look at you favorably if you need to finance your next purchase, and you’ll have a better selection of loan options if you’re going larger or pricier. 

If you aren’t in the best financial position, you can always work toward improving it. You can increase your credit score, save more for a downpayment, and look for more steady or higher paying employment. 

Contact me for Assistance

I like to talk to my clients a few months, even a year before when they’re in the “thinking about moving” phase. We can take a look at your specific situation, life goals, and financial circumstances. So reach out to me earlier than later so we can determine what is right for you!

If you decide it’s the right choice to right-size, I can walk you through all the steps to make it happen.