In order to answer this question, you must know what your home is worth and also have formulated some kind of plan as to where you want to go. You will also need to know what it will cost you to make those plans happen. Consulting with your Realtor is very important and timely to further understand the entire picture.
A trusted Realtor can show you what your home is worth by means of a detailed home evaluation. This revelation of the equity in your home will be monumentally important. Many of us have some general idea of what our home is worth but knowing more specifically is very important for you before you start looking towards achieving the personal goals you have set for yourself.
A full-service Realtor also has connections to other Realtors in your desired areas of interest, experienced, trusted Realtors who can show you the options at the other end. They form part of a trusted team. These appointments can be easily set in place to allow your search to begin. Once you have a better idea of what is possible at the other end you will be able to weigh the numbers and decide, do I buy first or sell first? Knowing the real estate markets at both ends along with your own personal financial situation is needed for you to make the best decision.
Our team includes a financial planner and estate planner who can speak with you regarding meeting your financial and estate planning needs and goals. Understanding your equity and income and any budget setting is very important and we have team members who can assist with those needs.
A discussion about the state of the current market is integral to your decisions going forward. This will be discussed at the market evaluation appointment in your home.
The costs to make these plans happen is another discussion that is important; the different services you will need and what they will cost so you will know the net amount of money you have to work with.
Once the economics have been determined and a clearer plan is in place, something downsizers may wish to be simultaneously planning is the decluttering of the home. There’s no doubt “stuff” needs to go and there’s no time like the present.
Downsizing is stressful for many reasons. The preparation for the home to be sold is another major task we can help with.
We have formulated here a full needs team ready to respond to you: a One Stop Shop for Downsizing.