Downsizing: Sometimes Less is More!

If the kids have flown the coop, your nest might be feeling a bit empty – and way too large!  Are you ready to downsize to a smaller and more affordable home?  I can help!  Check out my tips below to learn the “why’s”, “when’s”, and “how’s” about downsizing.  Together, we can make it a seamless process!

Why Downsize?

You Have Too Much Space:

The top reason that homeowners decide to downsize is that their family’s lifestyle needs have changed.  The kids are grown and off to college, and suddenly the extra bedrooms, bathrooms, rec room, basement, and backyard are going unused.  The large home and excellent public school systems that were once ideal just aren’t necessary anymore, and neither are the coinciding costs.

Less Maintenance:

The extra space might not be utilized anymore, but maintenance is still required – and it can be demanding and costly!  The large yard still requires mowing, the empty rooms still need dusting, and any unexpected damage still has to be repaired.  Need a new roof?  Unfortunately, you will have to replace the whole roof – not just the part over your favorite rooms!  Moving to a smaller house or condo means you can have more free time and save on the exorbitant home maintenance fees on a larger home.

Lower Costs:

Life is expensive, and you might find the bills are piling up if you’ve recently sent the kids off to college.  Downsizing can help you to pay off debt and can boost your savings accounts and retirement funds.  And with today’s low mortgage rates, you can have incredibly low monthly payments!  Plus, as your square-footage needs decrease, so will your property taxes and utility bills!

When Should You Downsize?

When the Market Conditions Are Good:

NOW is an incredible seller’s market!  Following the 2020 pandemic, we are seeing a Real Estate Market boom!  There is high demand and low inventory, which means that open houses have lines wrapped around the block, there are multiple bids on many properties, and offers are going way over asking!

During Peak Selling Season:

The peak selling season in Northern New Jersey is SPRING!  The Spring Market is always the hottest time of year for Real Estate.  Historically, this is the season when most sellers put their homes on the market, get the highest priced offers, and have their homes sell in the shortest amount of time – typically with multiple bids! 

When Mortgage Rates are Low:

When rates are low, buyers are more likely to place higher offers on your home to beat out the competition.  Right now rates are at historic lows, hovering around 2.375 – 2.5% for a 30 year fixed rate!  That’s an incredible number that will benefit you on both ends of your transaction!  Not only can you net more money when selling your current home, but when you are ready to buy you will have access to the same low rate. That will save you thousands of dollars on your monthly payments!

If you want more information on what the rates are at right now, or if you would like to get pre-approved for a mortgage online, please click the link below.  Emi is highly qualified and will be able to answer all your financing questions!
https://www.grarate.com/loan-officer/emikalic

How To Downsize:

Declutter:

I recommend starting the purging process early!  Take inventory of your current space, and make a list of what is actually being used.  If you have a formal dining room set but haven’t hosted a gathering in years, consider selling it.  Maybe you opt for an eat-in kitchen that’s perfect for more intimate gatherings in your next home.  You can even make some money back on your valuables by selling them to your buyers, or on websites like Craigslist and Facebook Marketplace.  Once you figure out what to keep and what to toss, you can gain a better mental picture of how much space you need in your next home!

Pro Tip: Sometimes sentimentality can make us keep things that are no longer practical – and that’s understandable!  Decluttering doesn’t mean that your belongings are “junk,” it just means that they don’t fit into your lifestyle anymore.  Consider taking pictures of the items you’re planning to purge, then make a photo album or scrapbook!  This way you will forever have a keepsake of the cherished memories of your old home.

Photo Credit: crosscountrymoversgroup.com

Focus on the Future:

When searching for a new home, make a long-term plan that accounts for your current and future needs.  If you plan to retire and grow old in this home, consider what adaptions that may require.  Do you need a first-floor entryway?  Do you want to be at a shorter distance from family members?  These may seem like far-off priorities now, but your future self will thank you!

Partner With a Skilled Realtor:

It’s important to find an agent who is experienced, trustworthy, and knowledgeable of your area and the current market.  She will be able to assist you with professional photography, home staging, and multi-media marketing to sell your home for top dollar!

Check out my VIP Marketing Plan below to see the various avenues I use to sell homes quickly!  I include professional photography, staging, print advertising, a professionally designed website, TV and YouTube promotions, printed and mobile property brochures, targeted online advertising, and more!
VIP Marketing Plan

Learn more about my experience, personality, and capability by reading real client testimonials!  Click below to see a compilation of my reviews, in which actual clients voice their opinion about my local knowledge, process expertise, responsiveness, and negotiation skills.
Ana Moniz’s Testimonials

Price Your Home Right:

Once you’ve chosen a realtor who knows the market and your area well, you can trust her to guide you to an appropriate listing price.  Right now is an incredible seller’s market and buyers are offering well over the asking price!  In this market, you may be able to push your price point a bit higher than usual, but make sure not to overprice.  Your agent will recommend a number that will get buyers in the door and create huge interest in your home. The competition will drive up your number and could net you quite a desirable sum!

Ready to downsize? I can help!

Please call me today at 201-247-6341 and I will be more than happy to send you a market analysis of your home. Or, simply click the link below and I can send you one online right now!

What is Your Home Worth in the 2021 Spring Market?

Don’t miss this absolutely fabulous Spring Market in Northern Bergen County!

NOW is the right time to SELL!

Please feel free to reach out to me below anytime at all if you have any questions! 

This image has an empty alt attribute; its file name is 91637412_10157945939588847_4525051795013107712_o.jpg

Ana Moniz, ABR Broker Associate Lifetime Member of the NJAR™ Distinguished Sales Club Coldwell Banker Residential Brokerage 50 Broadway, Hillsdale, NJ  07642
cell- 201-247-6341 | office – (201) 930-8820 Ext. 441 | e-fax- 201-781-6712
www.AnaMonizRealEstate.com | https://www.anamonizrealestate.net/ |  AnaMonizRealEstate@gmail.com

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